Characteristics of Target Companies;

摘要

The next important question for hedge fund activism is: What type of companies do activist hedge funds target? Table 5.1 reports results for probit regressions predicting hedge funds' targeting. The regressions cover all Compustat firm-year observations from 2001 to 2007, which include both event and non-event observations. The dependent variable is a dummy variable equal to one if the firm-year observation corresponds to a firm being targeted by a hedge fund during the year.