Hubris and Activist Hedge Fund Success

Albert M. Ahn, Yu Zhang

Research output: Chapter in book/report/conference proceedingConference proceedingpeer-review


The growing visibility and aggressive tactics by some activist hedge funds raises the question of what determines whether these activist campaigns are successful. Given the lack of significant governmental oversight of hedge funds and their incentive structure, we propose that hubris is likely to play a role in explaining their success. Specifically we investigate and find that hedge funds that exhibit more hubris based on prior campaigns and their aggressiveness towards the target firm are less likely to be successful in achieving their stated goals. Our paper contributes to understanding activist hedge funds by examining how hubris may impact their success or failure.
Original languageEnglish
Title of host publicationAcademy of Management Proceedings 2016
EditorsSonia Taneja
PublisherAcademy of Management
Publication statusPublished - 1 Jan 2016
Event76th Annual Meeting of the Academy of Management, AOM 2016: Making Organizations Meaningful - Anaheim, United States
Duration: 5 Aug 20169 Aug 2016 (Conference website) (Conference proceedings)

Publication series

NameAcademy of Management Proceedings
ISSN (Print)0065-0668
ISSN (Electronic)2151-6561


Conference76th Annual Meeting of the Academy of Management, AOM 2016
Country/TerritoryUnited States
Internet address

User-Defined Keywords

  • Activist Investors
  • Hedge Funds
  • Hubris


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