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

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  • Wood, Steven

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.

Suggested Citation

  • Wood, Steven, 2025. "Owners vs. agents: A global examination of the behavior of owner operators," International Review of Financial Analysis, Elsevier, vol. 103(C).
    • Handle: RePEc:eee:finana:v:103:y:2025:i:c:s1057521925002182
    DOI: 10.1016/j.irfa.2025.104131
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