作者：Li, Yu; Zhang, Yan A.; Shi, Wei
作者单位：University of International Business & Economics; Rice University; University of Miami
摘要：Research Summary While geographic and cultural distances deter firms' international expansion, they do so via different mechanisms, such that firms with advantages in overcoming one-dimension may face disadvantages in overcoming the other. Larger, older, and state-owned firms have better access to resources in their home countries than smaller, younger, and non-state-owned firms, and thus are less concerned about the high operating costs associated with larger geographic distances. However, th...
作者：DesJardine, Mark R.; Durand, Rodolphe
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Hautes Etudes Commerciales (HEC) Paris
摘要：Research Summary We investigate how hedge fund activism affects firms' financial and social performance. So far, research has examined either the impact of hedge fund activism on firms' short-term financial performance, or how other types of shareholder activism affect firms' social performance. Crossing these boundaries with data on 1,324 activist hedge fund campaigns between 2000 and 2016, we find a clear trade-off associated with hedge fund activism: benefits are shareholder-centric and sho...
