Activists - Publications - Faculty & Research

04 Dec 2013
News

Abercrombie Activists May Affect Change

September 2008 (Revised October 2008)
Supplement

Shareholder Activists at Friendly Ice Cream (A2)

By: V.G. Narayanan, Fabrizio Ferri and James Weber

The A1 and A2 versions of the “Shareholder Activists at Friendly Ice Cream (A)” split the original A case into two parts. The A1 case ends as activists Sardar Biglari and Phil Cooley prepare to meet with CEO Don Smith at Friendly's headquarters in September 2006. The... View Details

Keywords: Investment Activism; Business and Shareholder Relations; Governing and Advisory Boards; Conflict and Resolution; Lawsuits and Litigation; Business or Company Management; Food and Beverage Industry; United States

Citation

Purchase

May 2014
Article

How to Outsmart Activist Investors

By: Bill George and Jay W. Lorsch

We offer opinions on how management and corporate boards of directors can best manage investor relations with activist stockholders such as hedge funds who are demanding major changes within a corporation to improve stockholder return. Beverage industry firm PepsiCo is... View Details

Keywords: Investment Activism

Citation

Find at Harvard

Read Now

12 Apr 2013
News

The Market Needs Shareholder Activist

June 2025
Case

Vail Resorts: Responding to Activist Pressure (A)

By: Benjamin C. Esty and Edward A. Meyer

On January 27, 2025, the head of a relatively small hedge fund named Late Apex Partners sent a highly critical letter to the board of directors of Vail Resorts, the world’s largest ski resort operator. In his letter, and the 88-slide presentation that accompanied his... View Details

Keywords: Corporate Finance; Capital Budgeting; Corporate Governance; Competitive Advantage; Competitive Strategy; Leading Change; Valuation; Investment Activism; Climate Change; Management Succession; Financial Management; Risk Management; Sports Industry; Entertainment and Recreation Industry; Travel Industry; United States; Australia; Canada

Citation

Educators

Purchase

12 May 2014
News

How Activist Investors Change the Game

December 2024
Article

Can Activists Change Business for Good?

By: Hiske Arts, Geoffrey Jones, Sarah Soule and Lora Verheecke

Leading experts debate the ability of activists to successfully challenge unsustainable corporate behavior. Includes a discussion of the role of business leaders as actvivists. View Details

Keywords: Corporate Responsibility; Activism; Spirituality; Power and Influence; Social Issues; Corporate Social Responsibility and Impact

Citation

Register to Read

07 Nov 2016
News

The CEO as Activist

Other Article

How Activist Investors Became Respectable

By: Joseph B. Fuller

Citation

Read Now

22 Aug 2007
Research & Ideas

The Hedge Fund as Activist

they keep a larger fraction of the gains that they produce by keeping watch over management. "Shareholder activism" refers to the practice of holding managers accountable for the performance of their firms. Shareholder activists... View Details

Keywords: by Robin Greenwood; Financial Services

21 Jun 2017
News

Are Activists Being Sabotaged by Their Brokers?

03 Nov 2014
News

Activists Fall Short on Coaching Management

19 Jan 2011
Research & Ideas

Activist Board Members Increase Firm’s Market Value

out from under any owners planning to use this rule as a tool. It was a unique situation for [research] because it was unpredicted and legally important for a subset of firms with large activist owners who might take advantage of a proxy... View Details

Keywords: by Carmen Nobel

April 2008 (Revised August 2008)
Supplement

Shareholder Activists at Friendly Ice Cream (B)

By: V.G. Narayanan, Fabrizio Ferri and James Weber

This case study briefly describes the outcome of the Shareholder Activists at Friendly Ice Cream (A) case. View Details

Keywords: Investment Activism; Business and Shareholder Relations; Conflict and Resolution; Outcome or Result

Citation

Purchase

26 Aug 2013
News

Activists Seek Short-Term Gain, Not Long-Term Value

12 May 2015
News

Dupont vs. the activists

The New CEO Activists

CEOs are increasingly taking a stand on divisive social issues that don't directly affect their companies' bottom lines—a dramatic departure from tradition. This Harvard Business Review... View Details

September 2008 (Revised October 2008)
Case

Shareholder Activists at Friendly Ice Cream (A1)

By: Fabrizio Ferri, V.G. Narayanan and James Weber

Two activist investors, one a founder and one a hedge fund manager, seek to improve board oversight at a chain restaurant company. Prestley Blake founded Friendly Ice Cream in 1935 with his brother, and the two created a chain of full-service restaurants. In 1979, they... View Details

Keywords: Investment Activism; Governing and Advisory Boards; Lawsuits and Litigation; Business or Company Management; Business and Shareholder Relations; Conflict of Interests; Food and Beverage Industry; United States

Citation

Educators

Purchase