International Journal on Science and Technology

E-ISSN: 2229-7677   •   Impact Factor: 9.88

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 16 Issue 3 July-September 2025 Submit your research before last 3 days of September to publish your research paper in the issue of July-September.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 16 Issue 3
July-September 2025

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Activist Investors and Hostile Takeovers: Redefining Power in M&A and Corporate Restructuring

Author(s) Mr. Alok Routray
Country India
Abstract This paper investigates how activist investors and hostile takeovers influence the outcomes of mergers and acquisitions (M&A). Traditionally viewed as disruptive forces, activists and hostile bidders are now increasingly recognized as governance agents that challenge entrenched management, reallocate capital, and unlock shareholder value. Using a hand-curated dataset of 135 transactions (100 global and 35 Indian) announced between 2005 and 2023, the study applies event study methodology, long-horizon buy-and-hold abnormal returns (BHAR), and changes in operating efficiency (ΔROCE) to assess performance. The evidence shows that activist-led and hostile acquisitions deliver significantly higher announcement-period returns (CARs of 9–13%) and stronger long-term gains (BHARs approaching 40%) relative to non-activist deals. Indian transactions broadly mirror these global patterns, though with lower magnitudes, reflecting SEBI’s evolving regulatory framework and the rising assertiveness of institutional investors. By reframing activism and hostile takeovers as mechanisms of market discipline and corporate renewal, the paper argues that—when appropriately regulated—these interventions function as constructive disruptors that enhance governance standards and foster sustainable value creation.
Published In Volume 16, Issue 3, July-September 2025
Published On 2025-09-09
DOI https://doi.org/10.71097/IJSAT.v16.i3.8149
Short DOI https://doi.org/g93b5q
View / Download PDF File

Share this


CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJSAT DOI prefix is
10.71097/IJSAT

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 16 Isu 3Cover Page Vol 16 Isu 2Cover Page Vol 16 Isu 1

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJSAT
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us Message on WhatsApp +91-9687-182-185 editor@ijsat.org