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2025 AOM Annual Meeting

STR

OMT

HR

24238: Different Owners, Different Behavior? How Private Equity and Activist Funds Impact Firms and Workers

Monday, July 28, 2025
12:00 - 13:30 CEST (GMT+2)
Location: Bella Center: Hall C- C3-m3
Session Type: Symposium (panel)
Orientation: Research
Shareable link: https://cdmcd.co/ZK8g5d
Unlike what we find in standard models of the firm, corporate owners are not uniform. The explosion of new ownership forms and the rising rate of ownership transitions over the past few decades testifies to this claim. Differences in consumption, competence, and other characteristics like time horizon translate to distinct approaches to managing companies. This can impact firm value, but also organizational survival and industry dynamics, employee compensation and well-being, and the achievement of sustainability goals. This symposium features five papers on the strategic, organizational, and human resource implications of corporate ownership, that build on this claim. Four empirical papers propose new ways of thinking about how private equity and activist investors like hedge funds reshape company behavior. A fifth paper by a leading scholar elaborates a new framework for explaining how corporate ownership shapes management, incorporating while moving beyond agency theory. This symposium will advance knowledge on how corporate owners influence company action, inaction, and capabilities. We believe it will be of special interest to scholars of corporate strategy, organizational theory, and human resources.