Abstract:Hedge funds' engagements do not cause value‐enhancing as acknowledged by previous research; new insights highlight how distinct strategies combine into configurational causes of value improvement of the two common short‐run and long‐run forms of market reactions. Qualitative comparative analysis is applied and uncovers several equifinal configurations associated with value creation. The results reveal that the hostility of hedge funds' tactics is a necessary condition or, in other words, a prerequisite for hig… Show more
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