New Investor Categories, Agility and HRM: The Case of Sovereign Wealth Funds

Human Resource Management Review, Forthcoming

51 Pages Posted: 7 Nov 2016 Last revised: 10 Nov 2016

Douglas J. Cumming

York University - Schulich School of Business

Geoffrey Wood

University of Warwick - Warwick Business School

Igor Filatotchev

City University London - Sir John Cass Business School

Juliane Reinecke

University of Warwick - Warwick Business School

Date Written: November 1, 2016

Abstract

This article reviews the existing literature on SWFs and the firm, focusing particular attention on the implications of the rise of SWFs strategic agility and HRM. This paper outlines three main channels through which sovereign wealth fund (SWF) investment has implications for employees. First, SWFs influence macroeconomic environments, and hence affect labor conditions. Second, institutional conditions in different countries shape the behavior of SWFs around the world, which in turn has implications for HR strategy and practice. Third, SWFs can have a direct effect on the corporate governance and hence HR strategies and employees of organizations in which they invest. We review and discuss these three channels and outline avenues for future research.

Keywords: Sovereign Wealth Funds, Employees, Pensions, Corporate Governance, Macroeconomic Stability, Institutions, Comparative HRM

JEL Classification: O15, J24, G23

Suggested Citation

Cumming, Douglas J. and Wood, Geoffrey and Filatotchev , Igor and Reinecke, Juliane, New Investor Categories, Agility and HRM: The Case of Sovereign Wealth Funds (November 1, 2016). Human Resource Management Review, Forthcoming. Available at SSRN: https://ssrn.com/abstract=2864976

Douglas J. Cumming

York University - Schulich School of Business ( email )

4700 Keele Street
Toronto, Ontario M3J 1P3
Canada

HOME PAGE: http://booksite.elsevier.com/9780124095373/

Geoffrey Wood (Contact Author)

University of Warwick - Warwick Business School ( email )

Coventry CV4 7AL
United Kingdom

Igor Filatotchev

City University London - Sir John Cass Business School ( email )

106 Bunhill Row
London, EC1Y 8TZ
United Kingdom

Juliane Reinecke

University of Warwick - Warwick Business School ( email )

Gibbet Hill Rd.
Coventry, West Midlands CV4 8UW
United Kingdom

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