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Thomas Keusch
Assistant Professor of Accounting and Control
Keywords
Corporate Governance; Hedge Fund Activism; Activist Settlements; JEL Classification: G12; G23; G32; G34; G35; G38; K22;
Journal Article
Bebchuk L. A., Brav A., Jiang W., Keusch T. (2020). Dancing With Activists Journal of Financial Economics, 137(1), (pp1-41).
An important milestone often reached in the life of an activist engagement is entering into a “settlement” agreement between the activist and the target's board. Using a comprehensive hand-collected data set, the authors analyze the drivers, nature, and consequences of such settlement agreements.