While some vocal activist investors target healthy firms, modeling a form of corporate extortion that channels the greenmailer heritage, others draw on the original noble mission of showcasing genuine governance pathologies.
Recently, we evaluated how many self-styled activist investors are distinct from the original activists who helped catalyze needed governance reforms two decades back. We argued that the credibility and value proposition of activist investors are increasingly imperiled, amidst mounting proxy battle losses in high-profile fights and the flailing financial performance of activist firms.
