Kabir Ahmed

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Dissertation Title: Hedge Fund Activism: A Model for Long-Term Corporate Performance or the Creation of Negative Externalities?

Dissertation Topic:

Several U.S. legal scholars have argued that when hedge funds actively intervene in the corporate governance of a target, publicly-listed company, its long term corporate performance, measured solely by the target company's stock price, improves. However, opponents of this view have cast doubt that hedge fund activism fosters long term corporate performance. For instance, Professor Lynn Stout of Cornell Law School has suggested that the negative impacts of hedge fund activism also needs to considered. These negative impacts - often precipitated by hedge fund interventions to boost a target company's stock price - include job losses, closure of manufacturing centers, environmental damage and relaxing of safety standards.

My project is a case study based research approach that examines several examples of hedge fund activism and tracks the outcomes in relation to both a target company's long-term stock price and the production of negative impacts. The results of my research may provide valuable insights into whether specific regulatory policies might need to be adopted in order to constrain the negative impacts of hedge fund activism while still allowing for innovations that help to improve long term corporate performance.

Education

  • LL.M. - Cornell University Law School
  • M.B.A - Schulich School of Business, York University
  • J.D., LL.M. - Osgoode Hall Law School, York University
  • B.Sc. (Hon) - University of Toronto

Teaching Experience

  • Former Professor, Sheridan College School of Business
  • Former Teaching Assistant, Atkinson College, York University

Professional Experience

  • Corporate and securities lawyer, admitted to the Bars of Ontario, New York State, and the U.S. Supreme Court.
  • Former Ontario Senior Manager, Business Development Group, The Toronto Stock Exchange.

Publications

  • Kabir Ahmed & Dezso Farkas, A Proposal to Encourage Up-The-Ladder Reporting By Insulating In- House Corporate Attorneys From Managerial Power, in the Delaware Journal of Corporate Law, Volume 39:3, 2015.

Awards

  • Harley D. Hallett Graduate Entrance Scholarship