Do Sell‐Side Analysts Play a Role in Hedge Fund Activism? Evidence from Textual Analysis

ABSTRACT We investigate variation in information production by sell‐side analysts and its potential role in hedge fund activist intervention, an important external corporate governance mechanism that creates shareholder value. Using textual analysis to derive an activism dictionary from intervention...

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Veröffentlicht in:	Contemporary accounting research 2022-09, Vol.39 (3), p.1583-1614
Hauptverfasser:	Chen, Huimin (Amy), Shohfi, Thomas D.
Format:	Artikel
Sprache:	eng
Schlagworte:	Activism activisme des fonds spéculatifs Activists analyse textuelle analyst reports analystes sell‐side Analysts Brokerage Companies Corporate governance fonds spéculatifs hedge fund activism Hedge funds information production Intervention production d'informations Propensity rapports d'analystes sell‐side analysts Stockholders Tactics Text analysis Textual analysis
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