Individual investors are more likely to support activist campaigns that target female-led companies than those that target male-led companies, according to an experiment done for a new study.
The findings are based on about 500 responses to an online study of individual investors based in the U.S. by New Orleans-based analytics firm Lucid Holdings, part of Stockholm-based market-research firm
The research was conducted between 2017 and 2021.
Participants in the experiment were shown a letter that they were told to imagine was from a managing partner of a large activist investor in one of their holdings. The letter requested their support to get the partner elected to the company’s board. The target company’s chief executive was male in letters to some respondents and female in…
