Dr Oğuzhan Karakaş, Cambridge Judge Business School
This seminar discuss the study of the nature and benefits of coordinated engagements by activist shareholders cooperating to influence firms on environmental and social issues. The sample includes 1,671 collaborative dialogues by 225 investment organisations from 24 countries, targeting 964 listed companies in 63 countries over 2007-2017. The target firms are large and in distinctive sectors. Success rates are elevated by having a lead investor that is domestic, and having international activists that are more numerous, influential, and exposed to the target company. Successfully engagements are followed by improved profitability, sales growth, and increased ownership by lead investors. Unsuccessful engagements do not experience improvements.
Oğuzhan Karakaş was an Assistant Professor of Finance at the Carroll School of Management at Boston College prior to joining Cambridge Judge Business School. His research interests cover corporate governance, ownership and control, corporate social responsibility, private equity, and dynamic investment strategies.
This seminar is organised in association with the Cambridge Corporate Governance Network (CCGN).