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Department of Finance, LSE
Professor of Finance and Head of Department
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+44 (0)20 7107 5049
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Mike Burkart
Finance Faculty
Review of Financial Studies, 36 (5),1788–1836
We develop a dual-layered agency model to study blockholder monitoring by activist funds that compete for investor flow. Competition for flow affects...
The Review of Economic Studies, 82 (3), 922–962.
Review of Finance, 19 (4), 1383–1414.
We provide a theoretical framework to study blockholder activism by funds who compete for investor flow. In our model, activists are intrinsically...