Shareholder activism refers to the efforts of investors, particularly shareholders, to influence a company's behavior and decisions. These investors may push for changes in management, corporate policies, or strategic direction to enhance shareholder value. Activists often use their voting power or public campaigns to advocate for their interests. Activists can be individual investors or large institutional investors, such as pension funds or hedge funds. They may engage in various tactics, including proposing shareholder resolutions, launching public campaigns, or even seeking board representation. The goal is to hold companies accountable and drive improvements in performance and governance.