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)
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Official URL: http://dx.doi.org/10.1016/j.econlet.2017.09.012 |
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 |
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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) |
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