Activist hedge funds
Author(s)
Brecailo, Helizander (Helizander de Oliveira)
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Other Contributors
Sloan School of Management.
Advisor
Jun Qian and Gustavo Manso.
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Hedge funds have played a significant role in shareholder activism in the U.S. They have appeared quite frequently in the media as the driving force behind changes in firms' management that generate higher returns on their investments. Nonetheless, many wonder whether they really bring long-term value and benefits to firms, stakeholders, or financial markets, or whether hedge funds net returns for their investments only. The purpose of this thesis, which is written as a case study based solely on public information, is to discuss the attributes of activist hedge funds and how they differ from corporate raiders and private equity firms. The case study then maps activists' most common mechanisms for accomplishing their goals. Finally, the restaurant industry-in particular, Wendy's International Inc., which has been highly targeted by activists-offers a platform for studying the outcomes of activists' maneuvers.
Description
Thesis (M.B.A.)--Massachusetts Institute of Technology, Sloan School of Management, 2008. Includes bibliographical references.
Date issued
2008Department
Sloan School of ManagementPublisher
Massachusetts Institute of Technology
Keywords
Sloan School of Management.