Section I will describe the key players involved in wolf pack activism and their conflicting motives, including both the members of wolf packs and those affected by them. Given that not all shareholders have common interests, this will include an analysis of the motives of various types of shareholders and an analysis of how these diverse motives may affect the wealth sustainability of companies. Section II will explain the phenomenon of wolf packs in corporate governance by describing the circumstances that lead to their formation and the various regulations (or lack thereof) pertaining to them. Section III will describe divergent theories about shareholder value and how these theories impact views about wolf packs in corporate governance. Section IV will analyze the theories, taking into account the motives of the various players described in Section I. This analysis will include a discussion of which players are more likely to adopt each theory. Lastly, Section V will discuss potential reforms in light of the best theory on the impact of wolf pack activism.
Theories and Solutions on Wolf Pack Activism,
Mich. Bus. & Entrepreneurial L. Rev.
Available at: https://repository.law.umich.edu/mbelr/vol7/iss2/6