Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Tuesday, February 20, 2007

Academic Study on Hedge Fund Performance

The New York Times highlights the study of "Hedge Fund Activism, Corporate Governance and Firm Performance" by law professors Frank Partney (San Diego) and Randall Thomas (Vanderbilt) and two finance professors. The study contradicts the generally held view that hedge funds are not "real" shareholders and only in it for short term gains.  In fact, they find that most hedge funds take long-term positions in the companies they invest in and improve the bottom line for all shareholders.  (Frank and Randall presented the paper at the January AALS meeting.)  See NY Times, A Good Word for Hedge Fund Activism (It appeared in the Sunday paper, but you may have missed it because of the holiday.)

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