On Thursday 12 September 2024, verdedigt R Kuijpers will defend the doctoral thesis titled: ‘The Effect of Shareholder Activism on Corporate Divestments'.
- Promotor
- Co-promotor
- Date
- Thursday 12 Sep 2024, 13:00 - 14:30
- Type
- PhD defence
- Space
- Senate Hall
- Building
- Erasmus Building
- Location
- Campus Woudestein
Brief summary:
Activist investors have become an established disciplinary force on financial markets through performing a monitoring function, and targeting excessively diversified firms. The management of excessively diversified firms exposes the firm to shareholder activism as it is not optimising the corporate portfolio for shareholder value creation. The reduced corporate focus of excessively diversified firms generally results in a lower financial performance of the firm, which is often reflected in a diversification discount on financial markets. Activist investors attempt to release these locked-in agency costs resulting from excessive diversification and increase total shareholder returns through proposing the divestment of unrelated corporate assets as a corrective measure for excessive diversification in the corporate portfolio. The empirical investigation in this dissertation explores the phenomenon of activist investor induced corporate divestments, and explains how management can retain the mandate for strategic portfolio decisions under shareholder pressure.
- More information
The public defence will begin exactly at 13.00 hrs. The doors will be closed once the public defence starts, latecomers may be able to watch on the screen outside. There is no possibility of entrance during the first part of the ceremony. Due to the solemn nature of the ceremony, children under the age of 6 are not allowed during the first part of the ceremony.
