Footnote:
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments February 16, 2023 erstellt
Description:
A firm's board of directors is considered an essential element of corporate governance. Its objective is to reduce agency costs, consequent to the separation of ownership and control (Gordon 2006). Agency issues in corporate governance increase interest for activist events (Brav, Jiang, Partnoy and Thomas, 2008, Zhu, 2013, Fos, 2017). Danone, with four activist shareholders events between 2012 and 2021, might have faced agency issues that provoked these events. The purpose of this article is to identify any agency issue during this period and to evaluate to which extent it could have been a trigger for activism