作者：Gao, Yu; Smith, Abbie; Wang, Xue
作者单位：University of St Thomas Minnesota; University of Chicago; University System of Ohio; Ohio State University
摘要：We investigate whether hedge funds (HFs) undertake activism in the corporate bond market. Although there is a growing empirical literature investigating HF activism in the equity market, we know little about the role of HF activists in the corporate bond market. The empirical setting is the active enforcement of bondholders' rights during 2003-2007, triggered by issuers' violation of a standard bond covenant requiring timely financial reporting. Using HF holding data of convertible bonds in Fo...
