Event studies examine stock price movements around corporate events. These events can
be voluntary firm announcements (eg, new product introduction, alliance formation, channel …

We summarize and synthesize the results from 73 studies that examine the consequences of
shareholder activism for targeted firms, and draw two primary conclusions. First, activism that …

Environmental, social and governance (“ESG”) scores have been widely touted as indicators
of share price resilience during the COVID‐19 crisis. Contrary to this conventional wisdom …

This paper provides an overview of the academic literature on the market for corporate
control, and focuses specifically on firms' performance around and after a takeover. Despite …

Purpose This paper fits in a research field dealing with the impact of Corporate Ethics
Assessment on Financial Performance. The authors argue how environmental, social and …

This research examines the relationship between policy uncertainty and mergers and
acquisitions (M&As). We find that policy uncertainty is negatively related to firm …

We examine the value effect of working capital management (WCM) for a large sample of
US firms between 1982–2011. Our results indicate (i) the existence of an optimal level of …

We test the empirical validity of a claim that has been playing a central role in debates on
corporate governance—the claim that interventions by activist hedge funds have a negative …

We examine the specification and power of tests based on performance-matched
discretionary accruals, and make comparisons with tests using traditional discretionary …

Market efficiency survives the challenge from the literature on long-term return anomalies.
Consistent with the market efficiency hypothesis that the anomalies are chance results …