Shareholder Activism and Canada's 'New Corporate Norm'
Bibliographic record
Abstract
The purpose of this project is to attribute shareholder activism's dramatic growth in Canada over the past decade to the cumulative effect of three structural factors. These components include: (1) the rise of institutional investing, which has resulted in an array of strategic enhancements developed by activist hedge funds, strengthening minority shareholder influence; (2) macro-economic volatility, which has produced the situational urgency for short-run share price improvement in traditionally strong Canadian sectors; and lastly, (3) the development of a corporate and securities law regime in Canada that has given rise to a localized activist-haven, providing procedural windfalls that have allowed for minority shareholders to exert unprecedented levels of control in corporate governance matters. The thesis argues that each of these three components have given rise to a surge in shareholder activism, whilst contemporaneously influencing modern Canadian investment practices so significantly, that a new corporate norm (NCN) now exists in Canada.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.002 | 0.005 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.009 | 0.009 |
| Scholarly communication | 0.009 | 0.001 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.001 | 0.002 |
| Insufficient payload (model declined to judge) | 0.005 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".