Activist Hedge Funds: Beware the New Titans
梳理了对冲基金积极主义的研究机会，指出管理学者应关注这一现象，探讨其是股东捍卫者还是损害公司长期战略健康。
Deploying more than $65 billion in capital globally and with more than 900 campaigns in 2018, activist hedge funds represent “the activist” in the capital market and have a significant influence on corporate governance and strategy and even the ownership of companies. While finance scholars have focused on understanding what firms activist hedge funds target and the performance repercussions of their campaigns, management scholars have largely ignored this important constituent. Based on our extensive research on the context of hedge fund activism, we here provide a research agenda that articulates the opportunities for management scholars to conduct investigations into this important phenomenon. By shedding light on the dynamics of hedge fund activism, management scholars have the opportunity to provide greater clarity as to whether these activists are shareholder champions or if they undermine the long-term strategic health of companies.