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| Tekijä: | Song, W-L. Szewczyk, S.H. |
| Otsikko: | Does coordinated institutional investor activism reverse the fortunes of underperforming firms? |
| Lehti: | Journal of Financial and Quantitative Analysis
2003 : JUN, VOL. 38:2, p. 317-336 |
| Asiasana: | Benchmarking Company performance Institutional investors |
| Kieli: | eng |
| Tiivistelmä: | The impact of Focus Listing by the Council of Institutional Investors on targeting poorly performing companies is investigated in this article. Post-listing stock returns for the targeted companies differ insignificantly from those of a suitable benchmark group. Institutional investors increase their holdings of targeted companies, but not by more than those of the benchmark companies. Similarly, though analysts revise earnings forecasts up for Focus Listed companies, they do so well after the listing event and positive revisions are no greater than the benchmark group. |
SCIMA