How Does Hedge Fund Activism Reshape Corporate Innovation?

The authors have benefited from discussions with Taylor Begley, Sharon Belenzon, Nittai Bergman, Shai Bernstein, Thomas Keusch, Adrien Matray, Frank Partnoy and comments from seminar and conference participants at Baruch College, Interdisciplinary Center at Herzliya, Hebrew University, Kellogg, NC State, Purdue, Rice University, Tel-Aviv University, Washington University in St. Louis, University of Southern California, Yeshiva University, the 2015 AFA Annual Meetings, the 2015 BI Conference on Corporate Governance, the June 2015 Academic day at London Business School’s Centre for Corporate Governance, University of San Diego/Vanderbilt Conference on the Future of Research on Hedge Fund Activism, the 2015 Ackerman Chair Corporate Governance Conference, the 2015 NHH Center for Corporate Finance Conference, and the 2016 Weinberg Corporate Governance Symposium. Alon Brav can be reached at phone: (919) 660-2908, email: brav@duke.edu. Wei Jiang can be reached at phone: (212) 854-9002, email: wj2006@columbia.edu. Song Ma can be reached at phone: (919) 660-1964, email: song.ma@duke.edu. Xuan Tian can be reached at phone: (812) 855-3420, email: tianx@indiana.edu. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.