It won't be long before would-be MBAs are sending their applications to the Ackman Institute of Learning, giddy about the prospect of receiving an interview, though terrified at the prospect of meeting with Dean of Student Life, Carl Icahn.

The swift rise of activist investors such as Mr. Ackman’s Pershing Square Capital Management LP and Daniel Loeb’s Third Point LLC has shaken up American businesses, forcing companies to cut fat or change course. Activist ideas are also shaking up business schools, upending class discussions and attracting a new crop of future investors eager to make a name for themselves. [...] “There are students at Columbia with the singular goal of getting hired by Pershing Square,” said Robert Jackson, a professor at Columbia’s business and law schools.

Activist Investors Are Shaking Up Business Schools, Too [WSJ]