The Impact of Restructuring on Bondholders

Thirty years of shareholder activism: A survey of empirical research

“…The results in Renneboog andSzilagyi (2011) andCuñat, Gine, andGuadalupe (2012) suggest that recent samples of shareholder proposals are associated with share value increases, unlike most research based on earlier samples. Such time-varying results could reflect an improvement in targeting practices by proposal sponsors, as argued by Buchanan et al (2012).…”