Owners vs. agents: A global examination of the behavior of owner operators

Steven Wood

International Review of Financial Analysis, 2025, vol. 103, issue C

Abstract: I have conducted research on the behaviors of a distinct, and large, group of public companies that are managed by large, committed, long-term oriented owners. These 1297 owner operators that I've studied over the past decade (2013−2023) have behaved very differently in their capital allocation and management style, leading to long-term value optimization rather than short-term profit maximization.

Keywords: Ownership structure; Corporate performance; Family firms; Founder firms; Inside ownership (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:103:y:2025:i:c:s1057521925002182

DOI: 10.1016/j.irfa.2025.104131

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