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We find that while, in the long run, divestitures initiated by activist hedge funds improved firm profitability, divestitures initiated by other activists destroyed firm profitability in the long-run.
Women directors are associated with less aggressive investment policies, better acquisition decisions and improved firm performance overall.
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What if formal innovation training actually improved firm-level innovativeness?
These actions also help improve firm performance.
Does employee satisfaction improve firm value?
This suggests that creditors improve firm performance by refocusing operations.
Large pay gaps do not necessarily improve firm performance.
But does access to high-quality courts for corporate litigation actually improve firm performance?
Against this background, high-quality courts should improve firm performance in at least two ways.
The empirical results suggest the direction of how to improve firm efficiency.
In the second part of our paper, we attempt to identify how financial analysts improve firm productivity.
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