description: individual or group buying shares to influence company management
153 results
by Mehrsa Baradaran · 7 May 2024 · 470pp · 158,007 words
’s efforts to hire employees of color were insufficient, given the scale and type of changes they saw as necessary. Calling themselves Campaign GM, these “activist shareholders” (before the term was coined) were organized by a group of young lawyers affiliated with Ralph Nader. Nader, whose 1965 book Unsafe at Any Speed
by Mariana Mazzucato · 25 Apr 2018 · 457pp · 125,329 words
buy-back programmes. In 2012, for example, Apple announced a share buy-back programme of up to a staggering $100 billion, partly to ward off ‘activist' shareholders demanding that the company return cash to them to ‘unlock shareholder value'.7 Rather than reinvest in the business, Apple preferred to transfer cash to
by Dambisa Moyo · 3 May 2021 · 272pp · 76,154 words
a global corporation for $100 billion, the largest global mergers and acquisitions transaction in 2016; enormous regulatory fines stemming from a crackdown on corporate behavior; activist shareholders seeking to disrupt the company strategy; the unique challenges of having an insider—a large, dominant, usually family member—shareholder on the board; expropriation of
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members, and whether or not the roles of the board chairman and CEO should be merged. Board rules must also dictate whether, how, and when activist investors, company founders, or employee representatives should have a seat on the board. Even as these arguments rage on, there are certain rules and guidelines in
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position in the company. Strategic investors, generally, are focused on the long term, while activist investors can be in it for short-term stock appreciation. Many observers assume that strategic shareholders are always a constructive, positive influence, while activist shareholders are invariably negative and disruptive. However, the reality is far more nuanced. Left unchecked
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into management’s time—and that, in many cases, run counter to the long-term interests of the company. For example, Procter & Gamble and the activist investor Nelson Peltz spent $100 million each advocating for their separate interests during a proxy battle in 2017. The board likely spent a significant proportion of
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to avoid being the target of an activist; virtually every industry has seen activists gain board seats. Some well-known corporations that have engaged with activist investors include food producer Nestlé, with Third Point; confectionary maker Mondelēz, with Trian; and retailer JCPenney, with the hedge fund Pershing Square. I directly experienced the
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2016, while I was serving on the board of the Silicon Valley technology company Seagate, the board opted to willingly invite in ValueAct Capital, an activist investor. The two entities worked productively together, demonstrating that the relationship between the company board and the activist can be collaborative and constructive. This kind of
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involves job losses or restructuring that involves the sale of a business unit. Even so, the hard-nosed, purely numerical approach that tends to guide activist investors often neglects the broader societal considerations that boards need to bear in mind. A similar conundrum of divided loyalties is presented by the question of
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be dealt with by transforming the business landscape. When it comes to investments, boards must reckon with more vocal institutional investors, the risk of outside activists, investors excluding their companies from key funds, the rise of machines, the effects of algorithmic trading, and capital drying up for public companies. More and more
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vocal investors, including those that dominate the share registers and therefore pose a threat to the status quo. Of these, passive funds, active funds, and activist investors are emerging as the most prominent figures wielding influence over boards and management. Passive funds tend to track a stock market index such as the
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board. In part, these institutional investors are responding to pressure from their employees, society, and their clients—such as public-sector and corporate pension funds. Activist shareholders bring a more radical approach to how they engage with a board and a corporation. They will often quietly build an equity stake in a
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on their investments in a short period—their average time between entering and exiting an investment is twenty-eight months—and boards anticipate that an activist investor will be motivated accordingly. Effective activists run campaigns to win over a target company’s largest shareholders to build support for their plans for change
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to break up a company, which can lead to conflict with the board. In July 2018, food group Nestlé was called to task by an activist investor, Third Point Management’s Dan Loeb, who accused the company of being “insular, complacent, and overly bureaucratic” and of “missing too many trends.” He proposed
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, 2014. https://uk.reuters.com/article/uk-pfizer-astrazeneca-cameron/cameron-tells-pfizer-wants-more-commitments-for-astrazeneca-deal-idUKKBN0DN0S120140507. Jessop, Simon, and Sinead Cruise. “Activist Investor Bramson May Get Bloody Nose at Barclays AGM.” Reuters, April 26, 2019. https://uk.reuters.com/article/uk-barclays-agm-activist
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/activist-investor-bramson-may-get-bloody-nose-at-barclays-agm-idUKKCN1S21BZ. Jiang, Bin, and Tim Koller. “Paying Back Your Shareholders.” McKinsey & Company, May 1, 2011. www.mckinsey.
by William D. Cohan · 25 Dec 2015 · 1,009pp · 329,520 words
designed to simplify Lazard's byzantine ownership structure and came about chiefly as a result of the ongoing efforts of Jon Wood at UBS, the activist shareholder. After the merger with Rue Imperiale, Eurazeo would become, essentially, a large publicly traded private-equity fund. Together, Michel and the onetime Lazard suitor Credit
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genome. "For reasons that remain inexplicable," Andrew Ross Sorkin wrote in the Times after the compromise had been reached, "Mr. Wasserstein assumed the role of activist investor himself." Sorkin then canvassed Wall Street opinion to see how much reputational damage Bruce and Lazard had suffered, especially since only a month before Bruce
by Nicholas Shaxson · 10 Oct 2018 · 482pp · 149,351 words
, particularly the outsourcing of labour-intensive production facilities to cheap-labour countries like China or Bangladesh. This was driven especially hard by financial players and activist shareholders. And at the same time, also driven by financial players, bigger firms were aggressively expanding their use of tax havens to cut tax bills. These
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so bad that it was ‘like a prison’.28 These changes in the landscape of economic power have most often been driven by investment funds, activist shareholders and other financial interests, which have forced firms to channel their growing profits not into research and development but into paying bumper dividends. ‘The pressure
by Douglas Rushkoff · 1 Mar 2016 · 366pp · 94,209 words
lives. It’s easiest to see and feel that impact by investing in regional companies and projects, big or small. A large corporation’s local activist shareholders can have a disproportionately significant influence on how the company employs, sources, pollutes, and donates. Meanwhile, as distributed technologies allow smaller, more locally connected businesses
by Raghuram Rajan · 26 Feb 2019 · 596pp · 163,682 words
top management went up by only $3.25.41 The authors suggested it should be much more. Corporate chieftains obviously loved this message. Second, large activist shareholders ought to monitor firm management and push it to do the right thing for shareholders—a recent example was when the influential shareholders of the
by Alice Ross · 19 Nov 2020 · 197pp · 53,831 words
from the index, please use the search feature of your ebook reader. AB InBev 176 active funds 30, 31, 41, 83, 96, 97, 98, 125 activist investors 69–77, 84–90, 100–101 advertising 77, 79, 80, 151, 202 AGMs (Annual General Meetings) 70–73, 84, 87, 104 agriculture 85, 120, 145
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investors 170–71; semiconductor companies 143, 166–7, 178; weight reduction, investing in 167–8; zero emission pledges 176–8 engagement/effecting change 69–106; activist shareholders 69–74, 84–90; disclosure, improving 80–84; fund managers 73–4, 77–80; green bonds 93–6; greenwashing 77–80; passive investing 96–104
by John N. Reynolds and Edmund Newell · 8 Nov 2011 · 193pp · 11,060 words
investment banks, but such pressure is not always farsighted. In 2007, there was extensive external pressure on HSBC to reform its activities, including pressure from activist shareholders. It became clear from late 2007 onwards, as the financial crisis developed, that while HSBC had eschewed some short-term opportunities for profits, despite highprofile
by Steven Brill · 28 May 2018 · 519pp · 155,332 words
and that borrows the rhetoric of other democracy movements. Armed with cash from huge hedge funds that they control, the raiders now style themselves as “activist shareholders” engaged in campaigns to get even some of the largest and most successful companies to do better for their shareholders by “unlocking” the value they
by vpavan
by Scott Galloway · 2 Oct 2017 · 305pp · 79,303 words
by Emmanuel Saez and Gabriel Zucman · 14 Oct 2019 · 232pp · 70,361 words
by William Magnuson · 8 Nov 2022 · 356pp · 116,083 words
by Jason Kelly · 10 Sep 2012 · 274pp · 81,008 words
by Tim Harford · 1 Jan 2008 · 250pp · 88,762 words
by Rick Wartzman · 15 Nov 2022 · 215pp · 69,370 words
by James O'Toole · 29 Dec 2018 · 716pp · 192,143 words
by Hans Gremeil and William Sposato · 15 Dec 2021 · 404pp · 126,447 words
by Grace Blakeley · 11 Mar 2024 · 371pp · 137,268 words
by Jeff Gramm · 23 Feb 2016 · 384pp · 103,658 words
by Linsey McGoey · 14 Apr 2015 · 324pp · 93,606 words
by Gina Keating · 10 Oct 2012 · 347pp · 91,318 words
by Russell Gold · 7 Apr 2014 · 423pp · 118,002 words
by Maneet Ahuja, Myron Scholes and Mohamed El-Erian · 29 May 2012 · 302pp · 86,614 words
by Paul Roberts · 1 Sep 2014 · 324pp · 92,805 words
by Scott Wapner · 23 Apr 2018 · 302pp · 80,287 words
by Vivek Ramaswamy · 16 Aug 2021 · 344pp · 104,522 words
by Walt Bogdanich and Michael Forsythe · 3 Oct 2022 · 689pp · 134,457 words
by Kate Conger and Ryan Mac · 17 Sep 2024
by Joris Luyendijk · 14 Sep 2015 · 257pp · 71,686 words
by Naomi Klein · 15 Sep 2014 · 829pp · 229,566 words
by Steven Rattner · 19 Sep 2010 · 394pp · 124,743 words
by Alex Zevin · 12 Nov 2019 · 767pp · 208,933 words
by Philip Coggan · 1 Dec 2011 · 376pp · 109,092 words
by Wolfgang Streeck · 1 Jan 2013 · 353pp · 81,436 words
by Mohamed A. El-Erian · 26 Jan 2016 · 318pp · 77,223 words
by Cory Doctorow · 19 Mar 2019 · 444pp · 84,486 words
by Georgina Adam · 14 Jun 2014 · 231pp · 60,546 words
by Siva Vaidhyanathan · 1 Jan 2010 · 281pp · 95,852 words
by Charles Arthur · 3 Mar 2012 · 390pp · 114,538 words
by Stanley McChrystal and Anna Butrico · 4 Oct 2021 · 489pp · 106,008 words
by Alex Prud'Homme · 6 Jun 2011 · 692pp · 167,950 words
by Daniel Yergin · 14 Sep 2020
by James Griffiths; · 15 Jan 2018 · 453pp · 114,250 words
by Barton Biggs · 3 Jan 2005
by Doug Henwood · 30 Aug 1998 · 586pp · 159,901 words
by Mark Dowie · 3 Oct 2009 · 410pp · 115,666 words
by Chris Nashawaty · 251pp · 86,553 words
by Benjamin Lorr · 14 Jun 2020 · 407pp · 113,198 words
by Joy Lisi Rankin
by Vaudine England · 16 May 2023 · 308pp · 122,100 words
by Zoë Schiffer · 13 Feb 2024 · 343pp · 92,693 words
by James Ashton · 11 May 2023 · 401pp · 113,586 words
by Lionel Barber · 3 Oct 2024 · 424pp · 123,730 words
by Walter Isaacson · 11 Sep 2023 · 562pp · 201,502 words
by Michael Shnayerson · 20 May 2019 · 552pp · 163,292 words
by Chrystia Freeland · 11 Oct 2012 · 481pp · 120,693 words
by Norton Reamer and Jesse Downing · 19 Feb 2016
by Rodrigo Aguilera · 10 Mar 2020 · 356pp · 106,161 words
by Henry Sanderson · 12 Sep 2022 · 292pp · 87,720 words
by Tobias E. Carlisle · 13 Oct 2017 · 120pp · 33,892 words
by Jimmy Soni · 22 Feb 2022 · 505pp · 161,581 words
by Orit Gadiesh and Hugh MacArthur · 14 Aug 2008 · 92pp · 23,741 words
by Jeff Booth · 14 Jan 2020 · 180pp · 55,805 words
by Grace Blakeley · 9 Sep 2019 · 263pp · 80,594 words
by Ryan Dezember · 13 Jul 2020 · 279pp · 87,875 words
by David Carey · 7 Feb 2012 · 421pp · 128,094 words
by Brian Dumaine · 11 May 2020 · 411pp · 98,128 words
by Mike Isaac · 2 Sep 2019 · 444pp · 127,259 words
by Gautam Baid · 1 Jun 2020 · 1,239pp · 163,625 words
by Scott Davis, Carter Copeland and Rob Wertheimer · 13 Jul 2020 · 372pp · 101,678 words
by Michael Wolff · 22 Jun 2015 · 172pp · 46,104 words
by Eric Ries · 15 Mar 2017 · 406pp · 105,602 words
by Antony Loewenstein · 1 Sep 2015 · 464pp · 121,983 words
by Brad Stone · 10 May 2021 · 569pp · 156,139 words
by Steven G. Mandis · 9 Sep 2013 · 413pp · 117,782 words
by Dan Lyons · 4 Apr 2016 · 284pp · 92,688 words
by Jonathan Haskel and Stian Westlake · 7 Nov 2017 · 346pp · 89,180 words
by Stephen Davis, Jon Lukomnik and David Pitt-Watson · 30 Apr 2016 · 304pp · 80,965 words
by Gregory Zuckerman · 5 Nov 2013 · 483pp · 143,123 words
by Matt Blumberg · 13 Aug 2013 · 561pp · 114,843 words
by Christine S. Richard · 26 Apr 2010 · 459pp · 118,959 words
by Benjamin Graham and David Dodd · 1 Jan 1962 · 1,042pp · 266,547 words
by Lars Kroijer · 26 Jul 2010 · 244pp · 79,044 words
by Sandra Navidi · 24 Jan 2017 · 831pp · 98,409 words
by Aaron Brown and Eric Kim · 10 Oct 2011 · 483pp · 141,836 words
by Lasse Heje Pedersen · 12 Apr 2015 · 504pp · 139,137 words
by Edwin Lefèvre and William J. O'Neil · 14 May 1923 · 650pp · 204,878 words
by George R. Tyler · 15 Jul 2013 · 772pp · 203,182 words
by Duff McDonald · 24 Apr 2017 · 827pp · 239,762 words
by Ryan Holiday · 13 Jun 2016 · 177pp · 54,421 words
by Scott D. Anthony and Mark W. Johnson · 27 Mar 2017 · 293pp · 78,439 words
by Michael Batnick · 21 May 2018 · 198pp · 53,264 words
by Bethany McLean · 13 Sep 2015 · 160pp · 6,876 words
by Wesley R. Gray and Tobias E. Carlisle · 29 Nov 2012 · 263pp · 75,455 words
by Reid Hoffman and Chris Yeh · 14 Apr 2018 · 286pp · 87,401 words
by Mihir Desai · 22 May 2017 · 239pp · 69,496 words
by Howard Marks · 30 Sep 2018 · 302pp · 84,428 words
by Eric Posner and E. Weyl · 14 May 2018 · 463pp · 105,197 words
by Philip Augar · 4 Jul 2018 · 457pp · 143,967 words
by Scott Kupor · 3 Jun 2019 · 340pp · 100,151 words
by Trebor Scholz and Nathan Schneider · 14 Aug 2017 · 237pp · 67,154 words
by Roger L. Martin · 28 Sep 2020 · 600pp · 72,502 words
by Owen Walker · 4 Mar 2021 · 278pp · 82,771 words
by Matthew Hindman · 24 Sep 2018
by Robert Wachter · 7 Apr 2015 · 309pp · 114,984 words
by Tim Koller, McKinsey, Company Inc., Marc Goedhart, David Wessels, Barbara Schwimmer and Franziska Manoury · 16 Aug 2015 · 892pp · 91,000 words
by David M. Cote · 17 Apr 2020 · 297pp · 93,882 words
by Michael A. Cusumano, Annabelle Gawer and David B. Yoffie · 6 May 2019 · 328pp · 84,682 words
by Kevin Roose · 18 Feb 2014 · 269pp · 83,307 words
by Eliot Brown and Maureen Farrell · 19 Jul 2021 · 460pp · 130,820 words
by Richard Robb · 12 Nov 2019 · 202pp · 58,823 words
by Duncan Mavin · 20 Jul 2022 · 345pp · 100,989 words
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by Tony Robbins · 18 Nov 2014 · 825pp · 228,141 words
by Peter S. Goodman · 11 Jun 2024 · 528pp · 127,605 words
by Stephen Witt · 8 Apr 2025 · 260pp · 82,629 words
by Aaron Dignan · 1 Feb 2019 · 309pp · 81,975 words
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by Christopher Varelas · 15 Oct 2019 · 477pp · 144,329 words
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by Edward Chancellor · 15 Aug 2022 · 829pp · 187,394 words
by Alan Murray · 15 Dec 2022 · 263pp · 77,786 words
by James B Stewart and Rachel Abrams · 14 Feb 2023 · 521pp · 136,802 words
by Nick Romeo · 15 Jan 2024 · 343pp · 103,376 words
by Brett Christophers · 12 Mar 2024 · 557pp · 154,324 words
by Arundhati Roy · 5 May 2014 · 91pp · 26,009 words
by Alec Nevala-Lee · 1 Dec 2012 · 341pp · 104,493 words
by Michael Shellenberger · 11 Oct 2021 · 572pp · 124,222 words
by Elizabeth Warren and Amelia Warren Tyagi · 17 Aug 2004 · 318pp · 93,502 words
by John Plender · 27 Jul 2015 · 355pp · 92,571 words
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by Ken Langone · 14 May 2018
by Benn Steil · 14 May 2013 · 710pp · 164,527 words
by Rana Foroohar · 16 May 2016 · 515pp · 132,295 words
by Richard Ferri · 11 Jul 2010
by Pierre Vernimmen, Pascal Quiry, Maurizio Dallocchio, Yann le Fur and Antonio Salvi · 16 Oct 2017 · 1,544pp · 391,691 words
by Philip Coggan · 1 Jul 2009 · 253pp · 79,214 words