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Management article
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Reference no. ROT320
Published by: Rotman Management Magazine
Originally published in: "Rotman Management Magazine", 2016
Length: 6 pages

Abstract

In the 1980s and 90s, funds that attacked publicly-traded companies were known as 'corporate raiders', and their attacks were brutish. Fearing reputational risk, most asset managers steered clear of such nasty attacks. Today, these funds are called 'activists', and they have gained respectability, as their campaigns are often based on an alternative view of corporate strategy-developed with significant investments of time, talent and money. As a result, fund managers are now willing to listen, and senior executives need to accept the reality of this 'golden age of activism', where trillions of dollars-yes, trillions-are being mobilized to improve the performance of publicly-traded companies. The author presents three new realities that every director and executive must embrace to thrive in the 'new normal'.

About

Abstract

In the 1980s and 90s, funds that attacked publicly-traded companies were known as 'corporate raiders', and their attacks were brutish. Fearing reputational risk, most asset managers steered clear of such nasty attacks. Today, these funds are called 'activists', and they have gained respectability, as their campaigns are often based on an alternative view of corporate strategy-developed with significant investments of time, talent and money. As a result, fund managers are now willing to listen, and senior executives need to accept the reality of this 'golden age of activism', where trillions of dollars-yes, trillions-are being mobilized to improve the performance of publicly-traded companies. The author presents three new realities that every director and executive must embrace to thrive in the 'new normal'.

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