King, T, Bozos, K orcid.org/0000-0003-2914-6495 and Koutmos, D (2017) Shareholder Activism and Equity Price Reactions. Economics Letters, 160. pp. 100-104. ISSN 0165-1765
Abstract
Using a large dataset of 8,870 shareholder corporate social responsibility (CSR) proposals for US firms, we employ a novel methodological approach that allows for the estimation of dynamic share price and risk reactions. We show that formal activist shareholder recommendations can affect stock returns and risk. However, the direction and magnitude of these effects are conditional upon the nature of the proposal and the identity of the sponsor.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2017 Elsevier B.V. This is an author produced version of a paper published in Economics Letters. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Corporate social responsibility; Shareholder activism; Time-varying betas; Risk-return trade-off |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Accounting & Finance Division (LUBS) (Leeds) |
Depositing User: | Symplectic Publications |
Date Deposited: | 13 Sep 2017 12:21 |
Last Modified: | 18 Mar 2019 01:39 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.econlet.2017.09.012 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:121136 |