The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu The leading online blog in the fields of corporate governance and financial regulation. Tue, 02 Jun 2026 13:15:31 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.8 https://corpgov.law.harvard.edu/wp-content/uploads/2024/02/cropped-photography-4-e1706898544564-1-32x32.png Shareholder Activism: Who, What, When, and How? – The Harvard Law School Forum on Corporate Governance https://corpgov.law.harvard.edu 32 32 Shareholder Activism: Who, What, When, and How? https://corpgov.law.harvard.edu/2015/04/07/shareholder-activism-who-what-when-and-how/?utm_source=rss&utm_medium=rss&utm_campaign=shareholder-activism-who-what-when-and-how https://corpgov.law.harvard.edu/2015/04/07/shareholder-activism-who-what-when-and-how/#comments Tue, 07 Apr 2015 13:04:34 +0000 https://corpgov.law.harvard.edu/?p=70625?d=20150407090434EDT Posted by Mary Ann Cloyd, PricewaterhouseCoopers LLP, on Tuesday, April 7, 2015
Editor's Note:

Mary Ann Cloyd is leader of the Center for Board Governance at PricewaterhouseCoopers LLP. The following post is based on a PricewaterhouseCoopers publication, available here.

Who are today’s activists and what do they want?

Shareholder activism spectrum

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“Activism” represents a range of activities by one or more of a publicly traded corporation’s shareholders that are intended to result in some change in the corporation. The activities fall along a spectrum based on the significance of the desired change and the assertiveness of the investors’ activities. On the more aggressive end of the spectrum is hedge fund activism that seeks a significant change to the company’s strategy, financial structure, management, or board. On the other end of the spectrum are one-on-one engagements between shareholders and companies triggered by Dodd-Frank’s “say on pay” advisory vote.

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