Skip to main content
Kent Academic Repository

Shareholder activism and equity price reactions

King, Timothy, Bozos, Konstantinos, Koutmos, Dimitrios (2017) Shareholder activism and equity price reactions. Economics Letters, 160 . 100 - 104. ISSN 0165-1765. (doi:10.1016/j.econlet.2017.09.012) (KAR id:67669)

Abstract

Using a large dataset of 8,870 shareholder corporate social responsibility (CSR) proposals for US firms, we employ a novel methodological approach that allows for the estimation of dynamic share price and risk reactions. We show that formal activist shareholder recommendations can affect stock returns and risk. However, the direction and magnitude of these effects are conditional upon the nature of the proposal and the identity of the sponsor.

Item Type: Article
DOI/Identification number: 10.1016/j.econlet.2017.09.012
Uncontrolled keywords: Corporate social responsibility, Shareholder activism, Time-varying betas, Risk-return trade-off, cequfin
Subjects: H Social Sciences
Divisions: Divisions > Kent Business School - Division > Department of Accounting and Finance
Depositing User: Tracey Pemble
Date Deposited: 19 Jul 2018 11:27 UTC
Last Modified: 05 Nov 2024 11:08 UTC
Resource URI: https://kar.kent.ac.uk/id/eprint/67669 (The current URI for this page, for reference purposes)

University of Kent Author Information

  • Depositors only (login required):

Total unique views for this document in KAR since July 2020. For more details click on the image.