scholarly journals Reputation and Investor Activism: A Structural Approach

2020 ◽  
Vol 2017 (036r1) ◽  
pp. 1-68
Author(s):  
Travis L. Johnson ◽  
◽  
Nathan Swem ◽  

We measure the impact of reputation for proxy fighting on investor activism by estimating a dynamic model in which activists engage a sequence of target firms. Our estimation produces an evolving reputation measure for each activist and quantifies its impact on campaign frequency and outcomes. We find that high reputation activists initiate 3.5 times as many campaigns and extract 85% more settlements from targets, and that reputation-building incentives explain 20% of campaign initiations and 19% of proxy fights. Our estimates indicate these reputation effects combine to nearly double the value activism adds for target shareholders.


Diabetes ◽  
2019 ◽  
Vol 68 (Supplement 1) ◽  
pp. 332-OR
Author(s):  
BOYI JIANG ◽  
YUXIANG ZHONG ◽  
PRATIK AGRAWAL ◽  
TONI L. CORDERO ◽  
ROBERT VIGERSKY
Keyword(s):  




2017 ◽  
Vol 2 (4) ◽  
pp. 25
Author(s):  
L. A. Montoya ◽  
E. E. Rodríguez ◽  
H. J. Zúñiga ◽  
I. Mejía

Rotating systems components such as rotors, have dynamic characteristics that are of great importance to understand because they may cause failure of turbomachinery. Therefore, it is required to study a dynamic model to predict some vibration characteristics, in this case, the natural frequencies and mode shapes (both of free vibration) of a centrifugal compressor shaft. The peculiarity of the dynamic model proposed is that using frequency and displacements values obtained experimentally, it is possible to calculate the mass and stiffness distribution of the shaft, and then use these values to estimate the theoretical modal parameters. The natural frequencies and mode shapes of the shaft were obtained with experimental modal analysis by using the impact test. The results predicted by the model are in good agreement with the experimental test. The model is also flexible with other geometries and has a great time and computing performance, which can be evaluated with respect to other commercial software in the future.



Author(s):  
Shijing Wu ◽  
Haibo Zhang ◽  
Xiaosun Wang ◽  
Zeming Peng ◽  
Kangkang Yang ◽  
...  

Backlash is a key internal excitation on the dynamic response of planetary gear transmission. After the gear transmission running for a long time under load torque, due to tooth wear accumulation, the backlash between the tooth surface of two mating gears increases, which results in a larger and irregular backlash. However, the increasing backlash generated by tooth accumulated wear is generally neglected in lots of dynamics analysis for epicyclic gear trains. In order to investigate the impact of backlash generated by tooth accumulated wear on dynamic behavior of compound planetary gear set, in this work, first a static tooth surface wear prediction model is incorporated with a dynamic iteration methodology to get the increasing backlash generated by tooth accumulated wear for one pair of mating teeth under the condition that contact ratio equals to one. Then in order to introduce the tooth accumulated wear into dynamic model of compound planetary gear set, the backlash excitation generated by tooth accumulated wear for each meshing pair in compound planetary gear set is given under the condition that contact ratio equals to one and does not equal to one. Last, in order to investigate the impact of the increasing backlash generated by tooth accumulated wear on dynamic response of compound planetary gear set, a nonlinear lumped-parameter dynamic model of compound planetary gear set is employed to describe the dynamic relationships of gear transmission under the internal excitations generated by worn profile, meshing stiffness, transmission error, and backlash. The results indicate that the introduction of the increasing backlash generated by tooth accumulated wear makes a significant influence on the bifurcation and chaotic characteristics, dynamic response in time domain, and load sharing behavior of compound planetary gear set.



2011 ◽  
Vol 697-698 ◽  
pp. 701-705
Author(s):  
D.D. Ji ◽  
Y.M. Song ◽  
J. Zhang

A lumped-parameter dynamic model for gear train set in wind turbine is proposed to investigate the dynamics of the speed-increasing gear box. The proposed model is developed in a universal Cartesian coordinate, which includes transversal and torsional deflections of each component, time-varying mesh stiffness, gear profile errors and external excitations. By solving the dynamic model, a modal analysis is performed. The results indicate that the modal properties of the multi-stage gear train in wind turbine are similar to those of a single-stage planetary gear set. A harmonic balance method (HBM) is used to obtain the dynamic responses of the gearing system. The responses give insight into the impact of excitations on the vibrations.





2021 ◽  
Author(s):  
Wei Shi ◽  
Chongwu Xia ◽  
Philipp Meyer-Doyle

Although prior research on shareholder activism has highlighted how such activism can economically benefit the shareholders of targeted firms, recent studies also suggest that shareholder activism can economically disadvantage nonshareholder stakeholders, notably employees. Our study extends this research by exploring whether shareholder activism by institutional investors (i.e., institutional investor activism) can adversely affect employee health and safety through increased workplace injury and illness. Furthermore, deviating from the assumption that financially motivated institutional investor activists are homogeneous in their goals and preferences, we investigate whether the influence of institutional investor activism on employee health and safety hinges on the political ideology of the shareholder activist and of the board of the targeted firm. Using establishment-level data, we find that institutional investor activism adversely influences workplace injury and illness at targeted firms and that this influence is stronger for nonliberal shareholder activists and for firms with a nonliberal board. Our study contributes to shareholder activism research by highlighting how the political ideology of shareholder activists and boards affects the impact of shareholder activism on stakeholders and how shareholder activism can adversely affect the health and safety of employees. Furthermore, our paper also contributes to research on workplace safety and the management of employee relations and human capital resources by highlighting the detrimental effect of a firm’s ownership by investor activists on its employees and how the board’s political ideology may enable a firm to reduce this risk.



2018 ◽  
Vol 52 (1) ◽  
pp. 16-26 ◽  
Author(s):  
Frances V.C. Ryan ◽  
Peter Cruickshank ◽  
Hazel Hall ◽  
Alistair Lawson

Results are reported from a study that investigated patterns of information behaviour and use as related to personal reputation building and management in online environments. An everyday life information seeking (ELIS) perspective was adopted. Data were collected by diary and interview from 45 social media users who hold professional and managerial work roles, and who are users of Twitter, Facebook and/or LinkedIn. These data were first transcribed, then coded with NVivo10 according to themes identified from a preliminary literature review, with further codes added as they emerged from the content of the participant diaries and interviews. The main findings reveal that the portrayal of different personas online contributes to the presentation (but not the creation) of identity, that information-sharing practices for reputation building and management vary according to social media platform, and that the management of online connections and censorship are important to the protection of reputation. The maintenance of professional reputation is more important than private reputation to these users. They are aware of the ‘blur’ between professional and private lives in online contexts, and the influence that it bears on efforts to manage an environment where LinkedIn is most the useful of the three sites considered, and Facebook the most risky. With its novel focus on the ‘whole self’, this work extends understandings of the impact of information on the building and management of reputation from an information science perspective.



Author(s):  
G. Aridon ◽  
A. Al Majid ◽  
L. Blanchard ◽  
D. Rémond ◽  
R. Dufour

This paper presents a simulation tool for predicting the self-deployment of an on-board deployable hexapod based on the release of strain energy stored in six tape-spring actuators. Their hysteretic behavior is described by six restoring force models, and a formulation of a direct dynamic model developed with a Lagrangian approach is performed. Furthermore, tensor representation is used to condense and simplify the calculation of Lagrangian partial derivatives. The results are compared with a numerical model that implements the recursive Newton–Euler technique. Finally, the impact of base excitations on the hexapod deployment performances is evaluated by using the proposed restoring force models.



2021 ◽  
pp. 252-282
Author(s):  
Ulf von Lilienfeld-Toal ◽  
Jan Schnitzler

This chapter reviews the growing empirical literature on shareholder activism by hedge funds. The aim is a comparative approach contrasting the impact of hedge fund activism on target firms with outcomes for other types of activist investors. Following recent research, the chapter provides an empirical analysis based on the disclosure of equity blockholdings by activist investors in a large sample of all US listed companies. In addition, it summarizes which types of investors engage in other events linked to activism, such as takeovers, proxy contests, or shareholder proposals. Overall, there is evidence that not only hedge funds but also other types of investors can be effective monitors, but there are nuanced differences with respect to targeting decisions and payout policies.



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