Annual Review of Shareholder Activism 2023
Lazard’s 2023 review of shareholder activism highlights key trends and data in shareholder activism activity throughout the year. New campaign activity in 2023 represented a 7% increase year-over-year and an all-time record for activity in Europe and APAC. Global Campaign Activity Reaches All-Time Highs 2023 activity reached a record high, topping the prior record set […]
Mary Ann Deignan is Head of Capital Markets Advisory, and Rich Thomas and Kathryn Night are Managing Directors in the Capital Markets Advisory group at Lazard. This post is based on a Lazard memorandum by Ms. Deignan, Mr. Thomas, Ms. Night, Christopher Couvelier, Antonin Deslandes, and Leah Friedman. Related research from the Program on Corporate Governance includes The Long-Term Effects of Hedge Fund Activism (discussed on the Forum here) by Lucian A. Bebchuk, Alon P. Brav, and Wei Jiang; Dancing with Activists (discussed on the Forum here) by Lucian A. Bebchuk, Alon P. Brav, Wei Jiang, and Thomas Keusch; and Who Bleeds When the Wolves Bite? A Flesh-and-Blood Perspective on Hedge Fund Activism and Our Strange Corporate Governance System by Leo E. Strine.
Lazard’s 2023 review of shareholder activism highlights key trends and data in shareholder activism activity throughout the year. New campaign activity in 2023 represented a 7% increase year-over-year and an all-time record for activity in Europe and APAC.
