Department Seminar Series - April 2017 Prof Andrew Pendleton

Department Seminar Series - April 2017 Prof Andrew Pendleton

The rise and fall of the listed company, and its implications for employment relations

Andrew Pendleton

Professor of HRM

Durham University Business School, UK

The presentation examines how corporate ownership influences and constrains managerial decision-making in employment relations and HRM.  The specific focus is stock-market listed companies, and the argument that the ownership of these firms tends to be associated with various labour management characteristics such as greater pay inequality, job insecurity etc.  It is found that, contrary to arguments associated with critiques of ‘short-termism’, stock market firms are more likely to have ‘high commitment’ labour, employment, and HRM practices.  This is attributed to various features of stock-market listed firms such as ownership dispersion, greater disclosure, and public visibility.  We then show that the listed sector is declining in countries such as the US and UK (though not Australia).  Various reasons for this are considered, such as greater frequency of share trading, increased regulation of listed companies, and shareholder activism.  The presentation concludes by discussing the emergence of new forms of corporate ownership, such as private equity, and by highlighting the differences between them and listed companies.  The presentation concludes by considering the implications for HRM and employment relations.  

Brief Bio: Professor Andrew Pendleton joined Durham University Business School in January 2015. From 2005 to 2014 he was Professor of HRM at the University of York Management School, where he also served as Research Director, Deputy Head of School, and Acting Head of School. Before York he held academic appointments at Bath, Bradford, Kent, and Manchester Metropolitan universities. He has held visiting appointments at Monash and Sydney Universities, and is currently Faculty Fellow and Mentor in the Beyster Program at the School of Management and Labor Relations, Rutgers University, USA. 

Title: "The rise and fall of the listed company, and its implications for employment relations"
Presenter: Professor Andrew Pendleton, Durham University Business School, UK 
Date:  Monday 10 April from 11am to 12pm
Venue:  Seminar room 623

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