Aktivizált befektetők - az aktivista fedezeti alapok és jogi szabályozásuk a nemzetközi pénz- és tőkepiacokon

Kecskés András: Aktivizált befektetők - az aktivista fedezeti alapok és jogi szabályozásuk a nemzetközi pénz- és tőkepiacokon. In: Acta Universitatis Szegediensis : forum : acta juridica et politica, (6) 1. pp. 97-118. (2016)

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This paper examines the activist investor’s attitudes of hedge funds towards their investment targets (as a company) and the regulatory background of these activities. In the 2000s 2010s hedge funds had begun to play an aggressive role towards their investment targets, but it was not for the purpose of a possible takeover rather a short-term capital gain. These actions by hedge funds are based on a well- orchestrated scenario and supported by the media frenzy of hedge fund managers. The paper describes step by step the emergence of the strategy and the possible reactions of the target company. The emergence of new type of activist investors was a surprise not only for the listed companies’ managements but for the regulators as well. The main reason behind these operations of hedge funds are deficiencies in capital allocation and inadequate remuneration system especially for executives. Transparency and disclosure rules both play crucial role in stabilizing the market and orienting the management in the interest of the majority shareholders. Finally, it should be examined whether the actions of activist hedge funds are based on short-term interest only or include long-term aspects too. Notwithstanding, the question remains whether these actions serve the interests of the well-informed few or the majority of shareholders as well.

Item Type: Article
Journal or Publication Title: Acta Universitatis Szegediensis : forum : acta juridica et politica
Date: 2016
Volume: 6
Number: 1
ISSN: 2063-2525
Page Range: pp. 97-118
Related URLs: http://acta.bibl.u-szeged.hu/53847/
Uncontrolled Keywords: Pénzpiac - nemzetközi - jogi szabályozás, Tőkepiac - nemzetközi - jogi szabályozás
Additional Information: Bibliogr. a lábjegyzetekben ; Összefoglalás angol nyelven ; Activated investors - activist hedge funds and their legal regulation on the international money and capital markets
Subjects: 05. Social sciences
05. Social sciences > 05.05. Law
Date Deposited: 2018. Jun. 29. 08:59
Last Modified: 2023. Nov. 06. 15:10
URI: http://acta.bibl.u-szeged.hu/id/eprint/54044

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