Fall 2025
Gustavo Barboza
Professor and Jack and Vada Reynolds Endowed Chair in International Business
Dr Gustavo Barboza is Professor of International Business at Loyola University New Orleans, where he holds the Jack and Vada Reynolds Endowed Chair Originally from Costa Rica, he earned his Ph D in Agricultural Economics from Oklahoma State University
His research explores international business, entrepreneurship, and economic development, with publications in leading journals such as Journal of Business Ethics, Journal of Hospitality and Tourism Research, Review of Development Economics, and Economic Notes, Small Business Economics Journal, Journal of Technology Transfer and Journal of Knowledge Management
Dr Barboza’s current projects address Triangularity of Agglomeration-Clustering-Knowledge Spillovers, Models of Knowledge Spillovers; and Spatial Fluidity of Knowledge Spillovers He is fluent in Spanish, English, and Italian
Foreign Direct Investment and Multinational Enterprises’ Impact on Local Entrepreneurship Development via Knowledge Spillover Effect: The Transformational Experience of Costa Rica
Co authors : A Braga
Entrepreneurial Ecosystems, 2025
This chapter presents the case of the evolution of entrepreneurial ecosystems of Costa Rica, by focusing on the impact of Foreign Direct Investment (FDI) by Multinational Enterprises (MNEs) on entrepreneurial activity and economic development in the local economy
Technology transfer, knowledge spillover and foreign direct investment
Co authors : A. Braga, A. Duchier, et al.
Journal of Technology Transfer, 2025
This study explores the role of Multinational Enterprises and Foreign Direct Investment have in fostering regional economic development in emerging markets, via the process of technology transfer within the context of the Knowledge Spillover Theory of Entrepreneurship We examine the effects of Foreign Direct Investment, sectoral clustering, and firm heterogeneity on productivity and local entrepreneurship development using the transformational case of Costa Rica
Missing
Weak vs Strong Knowledge Spillover Effects. Evidence from Geographic Distribution of Innovative Startup in Italy
Co authors : Pede, V
Review of Regional Studies, 54-2:163-191, August 2024
This paper introduces the concepts of weak and strong knowledge spillover effects within the context of the Knowledge Spillover Theory of Entrepreneurship In this context, the fundamental idea of our proposition is to provide a comprehensive analysis of the factors and conditions promoting and supporting entrepreneurship development at the regional and provincial level using a unique unbalanced panel database, consisting of 9242 Italian Innovative startups for the period 2008-2018
links of knowledge spillover effects on firm intensity and regional development.
Small Business Economics, Volume 63, pages 1721–1745, 2024
This paper investigates the presence and extent of missing links that prevent the transmission and condition the flow of knowledge spillover effects (KSE) across space and time Findings using a comprehensive database composed of 9242 innovative startups from Italy covering the period 2008–2018 and all 20 geographic regions as well as all economic sectors at the 2-digit level of aggregation indicate that missing links related to observed differences in industry structures and availability of pools of skilled human capital amount for large and persistent differences in terms of firm intensity differential across neighboring regions
Mapping Sustainable Human Resource Management in Latin America: Future Directions
Green Human Resource Management – A View from Global South West Countries. Springer Nature., 2023
Consequences of practicing sustainable Human Resource Management (HRM) are becoming visible in most sectors and industries In this paper we pay particular attention to sustainable HRM practices that integrate the pillars of the triple bottom line: economic, environmental, and social sustainability We performed a systematic literature review of articles published from 1996 to 2022, with a particular focus on Latin America (LATAM)
Knowledge Spillovers Effects, Firm Productivity and Regional formation of Innovative Startups: Evidence from Italy
Co authors : A Capocchi, and S Trejos
Review of Regional Studies, Vol. 53, Issue 2, 2023
This paper analyzes the determinants and effects of technological catch-up and knowledge spillover effects on employment productivity in the Innovation Startup Segment in Italy using a sample of 260 Innovative Startup companies Estimates indicate that regional specialization provides the highest potential for employment productivity gains, while higher levels of competition and higher regional diversity suppress the prospects for knowledge spillover effects to develop
Co authors : Madero, S M , Rubio Leal, Y L , & Olivas-Luján, M R Center
Leverage and Firm Value
Co authors : Pratt, William , and M Brigida
Economic Notes, July 2023
Three highly cited studies with over 6000 citations collectively report a negative relationship between the market value of the firm and leverage Such empirical findings clearly contradict the hypothesis of leverage adding value to the firm and an optimal capital structure that maximizes firm value these findings have yet to be resolved Employing a sample of 3,768 firms consisting of 39,015 observations, a stochastic frontier analysis was used to assess the relationship of leverage among other capital structure factors with firm value
Financial (il)literacy and Individual Behavior. Evidence on credit card repayment patterns
Co authors : P. Bongini, and M. Rossolini
Financial Services Review, 2021
We explore the role that financial (il)literacy and personal traits have on financial behavior Using a sample of 156 college students from the United States, we provide unique empirical evidence by specifically differen- tiating between individuals with higher levels of financial literacy versus individuals declaring not knowing the answers to financial literacy questions and those answering incorrectly. Thus, we assess the implications of revealed lack of financial knowledge on financial behavior regarding credit card use in comparison with two other cohorts; cohort one answering correctly, and cohort two failing to answer
Producer
Benefit
Experience. Information Asymmetries and Value Exchange Processes
Co authors : W. Pratt, and N. Singh
International Journal of Business Environment, 2021
This study proposes the new concept of producer benefit experience (PBE) and argues that companies that educate their consumers about the externalities and utilise green practices to create value for their consumers rather than focusing on cost reduction will have higher chances of success That is, companies that incorporate green practices into their strategy can have sustained competitive advantage, increased performance, and profitability The uniqueness of this paper is that PBE concept is being discussed for the first time
Innovative startups in Italy. Managerial challenges of knowledge spillovers effects on employment generation
Co authors : A. Capocchi
Journal of Knowledge Management, Vol 24 No 10 pp 2573-2596, 2020
This paper aims to investigate the impact of knowledge spillover effects (KSE) on employment levels using a sample of 245 Italian Innovative startup companies created as a result of the legislative changes of Law Decree 179/12 introduced in Italy in 2012
Technological Leadership and Sectorial Employment Growth: A Spatial Econometric Analysis for U.S. Counties
Co authors : Pede, Val , R Florax, H de Groot
Economic Notes, Vol 50.1, Feb 2021.
This paper studies the determinants of technological catch-up considering spatial and sectoral aggregation of industries We investigate how geographical and technological proximity to the technology leader impact regional employment growth We model technological progress by means of a hierarchical process of catch-up to the technology leader We also incorporate measures for knowledge spillover effects to test the roles of competition, specialisation, and diversity at the industry level Empirical results using data at the county level for different economic sectors (2-dig NAICS) for the United States indicate that human capital
A contribution to the empirics of food price behavior: the case of rice price dynamics in Italy
Co authors : Gavinelli, L., Pede, V., Mazzucchelli, A. and Di Gregorio, A.
British Food Journal, 2020
The purpose is to detect the nonlinearity wholesale rice price formation process in Italy in the 1995–2017 period Wholesale rice prices are significantly affected by variations in the international price of rice as well as variations in Arborio price
An Empirical Estimation of the Value Added Impact of Lucca Comics & Games Festival on Hotels Performance
Co authors : Capocchi, A , DeMicco, F , and Vallone, C
Journal of Hospitality and Tourism Research, 2020
Our study aims at investigating how the “Lucca Comics & Games Festival” has grown to become a major revenue generator for the hotel industry and the overall Lucca economic activity Our study placed a specific interest in analyzing, estimating, and approximating the monetary impact of “Lucca Comics & Games Festival” on the hotel and hospitality segment, and provided extensions to the larger economic activity of the Lucca economy
Alessandro Braga
Research Scholar in International Business
Dr Alessandro Braga is a Research Scholar in International Business at Loyola University New Orleans, where he joined the College of Business in 2023 Originally from Italy, he earned his Ph D in Business Administration from the University of Siena and has held academic positions in the U K , U S , Denmark, Peru, and Italy
His work has appeared in journals such as Regional Studies, Public Money & Management, and Meditari Accountancy Research, as well as in edited volumes with Oxford University Press, Emerald, and Routledge He is also an active reviewer for leading journals and a member of international academic networks including the Scholar Strategy Network and PUPOL
Dr Braga’s current research focuses on entrepreneurship and innovation at the regional level, knowledge spillovers, place-based leadership, social and public value, and sustainability in business He is fluent in Italian, English, and Spanish
Foreign Direct Investment and Multinational Enterprises’ Impact on Local Entrepreneurship Development via Knowledge Spillover Effect: The Transformational Experience of Costa Rica
Co authors : G Barboza
Entrepreneurial Ecosystems, 2025
This chapter presents the case of the evolution of entrepreneurial ecosystems of Costa Rica, by focusing on the impact of Foreign Direct Investment (FDI) by Multinational Enterprises (MNEs) on entrepreneurial activity and economic development in the local economy
Technology transfer, knowledge spillover and foreign direct investment
Co authors : G. Barboza, A. Duchier, et al.
Journal
of Technology Transfer, 2025
This study explores the role of Multinational Enterprises and Foreign Direct Investment have in fostering regional economic development in emerging markets, via the process of technology transfer within the context of the Knowledge Spillover Theory of Entrepreneurship We examine the effects of Foreign Direct Investment, sectoral clustering, and firm heterogeneity on productivity and local entrepreneurship development using the transformational case of Costa Rica
of Business
Enhancing knowledge spillover of innovation through artificial intelligence: an empirical investigation
Co
authors : E. D’Amico, M. Belitski
Journal of Technology Transfer, 2025
Effective technological innovation relies on having ample knowledge resources to enhance firm performance and knowledge creation Innovators seek both internal and external knowledge, actively engaging in a continuous search for these valuable resources Knowledge collaboration is a specific strategy that innovative firms can follow during Artificial Intelligence (AI) adoption processes This study investigates the role of AI and knowledge collaboration in firm innovation.
From Bureaucrats to In-and-outers: does the new Italian Recovery Plan call for a new public manager?
Co authors : E Mori, S Platoni, E Zuffada
Azienda pubblica, Issue 04, 2024
The new Italian Recovery Plan opens up a new concept of a public manager focused on competencies and continuous training This paper investigates the possible presence of four ideal types of Italian public managers in regional governments Questionnaires were electronically submitted to a sample of Italian public managers working in Regional Governments Data were analyzed using principal component analysis and cluster analysis to detect the presence of and changes in clusters of career patterns for Italian public managers
Conceptualising performance in public services co-production: from ideas to measures in neighbourhood watch schemes
Co authors : Sorrentino, D , Ruggiero, P & Mussari, R
Journal of Public Budgeting, Accounting & Financial Management, 21 May 2024
This paper delves into a pivotal juncture within the co-production literature, intersecting with the ongoing debate about performance challenges in public sector accounting scholarship. It explores how public managers conceive and measure the performance of co-produced public services
New development: Mitigating disvalue through a material understanding of public value co-creation.
Co authors : Sancino, A , Corvo, L & Giacomini, D
Public Money & Management, 2023
This article introduces a strategy that can be used by managers to (co)design, (co)analyse and (co)assess processes of public value co-creation Actions for implementation by public managers are also recommended, such as keeping a register of co-creation processes; describing the settings and the material relations among the actors taking part in cocreation; and accounting over time for the material effects of co-creation processes Watchdogs and civil society organizations should be monitoring the effects of public value co-creation processes from a material perspective
Center for International Business |
Civic Leadership for a transformative social economy. A comparison of city leadership constellation in Italy & UK.
Co authors : Sancino, A , Pagani, M , Corvo, L , & Scognamiglio, F
Social Economy Science: Transforming the Economy & Making Society More Resilient Oxford University Press, 2023
Highlights the importance of social economy science as a means of addressing the biggest societal challenges
How can technology advance the public administration discipline in Higher Education? A comprehensive analysis of the U.S. scenario
EdTech Economy and the Transformation of Education, 2022
This study investigates the contribution of technology in the public administration discipline by illustrating how and why public administration and technology are connected A qualitative thematic analysis conducted using a sample of U S public affairs schools/colleges sheds light on the main topics of technology-related courses in the United States academia The findings seem to confirm the positive interest in integrating technology in the public administration discipline
Transitioning towards remote working: the challenge of the Peruvian Civil Service Authority in midst of the Covid-19 pandemic
ASPA – Section on International and Comparative Administration – Occasional paper Series, 2022
This research aims at discussing how Peru is dealing with the COVID-19 pandemic by presenting the case of the Peruvian National Civil Service Authority (SERVIR) in the effort of wide-spreading remote working In particular, the paper will focus on the 2020 Peruvian Government policy about introducing a legal framework for remote working
Understanding Public Value Co-Creation from a Place Perspective.
Co authors : Sancino, A
Public Value Co-Creation – A Strategic Map for Public Managers Bingley: Emerald Group Publishing, 2022
This chapter investigates public value co-creation by researching how people make experience of public value creation across sectors and from a place perspective The study draws on a qualitative thematic analysis conducted on a crowdsourced dataset of more than 1,000 case examples of place leadership provided across three years (2017–2019) by a sample of students The results identify 21 themes (ways of co-creating public value from four realms of place-based leadership – political, community, managerial and business)
What can city leaders do for the climate change? Insights on boundary arrangements from the C40 network.
Co authors : Sancino, A., Stafford, M., & Budd, L. Regional Studies, 56(7), 1224-1233, 2022
This paper sheds light on what city leaders can do about climate change in the context of the complex extra-territorial challenges they face We created an original database of those actions implemented by members of the C40 Cities Climate Leadership Group and investigated which boundary organizations, objects and experiences (‘boundary cooperative arrangements’) can be triggered to undertake climate change actions by city leaders Through a secondary qualitative analysis, we identified six main actions
Which EU Governance in a Post Covid-19 era? A Debate over Possible Scenarios
Co authors : Mori, E & Zuffada E
European Journal of Economics, Finance and Administrative Sciences, 109, 1428, 2021
This article aims at discussing different pathways of EU governance in a post Covid-19 era This topic is of particular relevance, because it arises from the widespread recognition that Europe is experiencing a governance crisis, which has become particularly challenging during the last decade Therefore, this contribution starts from examining two main facts that can explain the governance crisis of the European Union: the debate over the sovereignty and the alleged crisis of Nation-States
The strategic governance of the digital transformation of the accounting environment: insights from virtual museums in Italy
Co authors : Esposito P., Sancino, A. & Ricci, P. Meditari Accountancy Research, 31(2): 366-380, 2021
This paper aims to investigate the strategic governance of the digital transformation of the accounting environment in cultural organizations, with a specific focus on practices of social responsibility and stakeholder engagement in virtual museums
New Development: COVID-19 and its Publics – Implications for Strategic Management and Democracy
Co authors : Sancino, A , Garavaglia, C , Sicilia, M
Public Money & Management, 41(5), 404-407, 2021.
This article discusses the concept of ‘publics’ and provides a case example related to Covid-19 to show the importance of strategically managing with and for publics Specifically, the publics of local governance in lockdown are identified from two focus groups with local leaders conducted in Lombardy, Italy Identifying, designing and visualizing publics is a key democratic and strategic choice with implications on the public values enacted
Center for International Business | College
Caleb Bernacchio
Legendre Soule Endowed Chair in Business Ethics and Faculty Director of the Center for Ethics and Economic Justice
Dr Caleb Bernacchio is the Legendre-Soulé Endowed Chair in Business Ethics and Faculty Director of the Center for Ethics and Economic Justice at Loyola University New Orleans He earned his Ph D in Business Ethics from IESE Business School in 2020, following graduate studies in management research (IESE) and business administration (Louisiana State University)
His research focuses on virtue-based approaches to business ethics, as well as the intersection of behavioral strategy, organization theory, and ethics He has published in leading journals such as Academy of Management Annals, Academy of Management Review, Business Ethics Quarterly, Journal of Business Ethics, and International Philosophical Quarterly He is also completing a monograph that develops a neo-Aristotelian account of markets, firms, and stakeholder relations
In addition to his scholarship, Dr Bernacchio serves on the editorial boards of Business Ethics Quarterly and Philosophy of Management His teaching emphasizes the case method and integrates Catholic Social Teaching, Thomism, and Ignatian spirituality, while his leadership at the Center promotes ethical formation, responsible business, and economic justice through study and service
Reconsidering the Moral Dimension of Managerial Authority: A Review and Integrative Research Agenda
Co authors : Foss, Nicolai Academy of Management Annals, Vol 18, No 2, 2024
In our review, we identified two distinct approaches to managerial authority, namely bureaucratic theories and efficiency-based theories, each involving several variations (five and three, respectively) Drawing together themes from our review, we argue further that, given the many challenges facing managerial authority in a contemporary context, there is a need for an integrative theory of authority that both identifies complementarities between the differing dimensions of authority and attributes a fundamental role to the moral dimension
The Virtues of Joint Production: Ethical Foundations for Collaborative Organization
Co authors : Foss, Nicolai & Lindenberg, Siegwart Academy of Management Review, 49(1): 155-181, 2024
In this article, we identify novel ethical microfoundations of collaborative organizations, explaining the role of organizational ethics in supporting organization-level goals and good governance We draw upon virtue ethics, adopting a practice perspective on joint production to explain how standards of professional excellence and the virtues function so as to sustain commitment to organizational goals within collaborative organizations
Organizations in the Space of Reasons
Philosophy of Management, 2024
Bounded rationality presents a challenge to the notion that virtue is a capacity for knowledge, suggesting that judgments concerning the salience of specific facts are, in some cases, an indication of one ’ s incapacity to appreciate the full range of normatively salient facts This problem can be mitigated by linking an account of the virtues with a theory of organizations From this perspective, virtue is inherently shaped by the norms structuring one ’ s role(s) and is linked to the complementary set of roles, that is, the organization, in which one is participating through the virtues of loyalty and obedience Within this perspective, human cognitive limitations are made to be strengths, allowing one to focus on a narrow set of reasons for action linked with one ’ s role to better achieve salient aims as a member of the organization than one could as an isolated individual
Freedom, Markets and Moral Motivation: Towards a More Adequate Account of the Implicit Morality of the Market
Journal of Human Values, 2024
The market failures approach is amongst the most influential theories of business ethics Its interest within the field is, in large part, a result of its rejection of moralism and any sort of applied ethics approach, favouring, in contrast, a focus on the institutionally embodied goal of economic activity, which it takes to be that of Pareto efficiency From this articulation of the goal, or purpose, of markets, a set of efficiency imperatives are derived that are taken to comprise the implicit morality of the market
Toward a Constructive Critique of Managerial Agency: MacIntyre’s Contribution to Strategy as Practice
Philosophy of Management, 22: 539– 561, 2023
MacIntyre’s distinctive version of practice theory has already influenced strategy as practice research but his approach has further relevance to the field The MacIntyrean approach further focuses attention on joint production as an organization-wide practice that potentially encompasses and integrates sub-organizational practices It also highlights the way that ordinary organization members engage in modes of praxis in order to integrate productive practices in the service of morally salient, organizational goals, facilitating collaboration and long-term value creation
Value Creation and the Internal Goods of Business
Co authors : Couch, Robert
Frontiers in Sociology, 7: 1-10, 2023.
In his early work, Moore argues that business itself was a MacIntyrean practice He later rejected this view in response to criticisms from Beadle and others Most subsequent work, including that of Moore, adopted a view of organizations, including firms, as institutions that house a core practice We first recount Moore's early view, defend and it from various criticisms We then briefly review research in management and finance arguing that this research supports a view of business consonant with Moore's early view Thus, we argue that business is a distinct practice that integrates various productive and auxiliary practices to facilitate mutually beneficial transactions
Hegelian Reflections on Agency, Alienation, and Work: Toward an Expressivist Theory of the Firm
Philosophy of Management, 21: 523–544, 2022
Hegel’s practical philosophy has important insights for understanding the ethical role of the firm in modern society From a broadly Hegelian perspective, the firm’s role in society is to facilitate freedom, that is, the concrete realization of rational agency It does this by providing the institutional structures, norms, practices, and modes of discourse necessary for individuals to link their subjective aims with objectively valid societal aims, embodied in the firm’s purpose Accordingly, I first present a Hegelian account of the link between action and social structure, before arguing that the firm, when it functions properly, enables individuals to express their capacity for rational agency within concrete social contexts
Does MacIntyre’s Moral Philosophy Require a Personalist Moral Psychology? MacIntyre and Tomasello on Moral Psychology
Frontiers in Communication – Organizational Psychology, 7: 1-9, 2022
Alasdair MacIntyre has developed a theory of virtue ethics that is closely integrated with sociology and organization studies While rejecting reductive views of the virtues, MacIntyre appeals to their functional role in facilitating collaboration as a basis for justifying their normative requirements This raises the question of how agents within cooperative contexts come to appreciate their intrinsic value I argue that MacIntyre's account of the virtues is undergirded by an implicit personalist moral psychology
MacIntyre on Practical Reasoning: A Response to Patrick Byrne International Philosophical Quarterly, 61(4): 481-494, 2022.
Patrick Byrne argues that MacIntyre’s account of practical reasoning is inadequate because it is based upon a notion of flourishing that places too much emphasis on impersonal facts, likewise because it is excessively focused on means without considering the role of desire for ends, and because it is does not account for the role of feelings in explaining how knowledge of ends is attained In this essay, I argue that MacIntyre’s account provides adequate responses to each of these concerns But more broadly, I argue that Byrne is right to suggest that a Lonerganian perspective offers important insights that can extend MacIntyre’s
Self-Authorship through Mutual Benefit: Toward a Liberal Theory of the Virtues in Business
Business Ethics Quarterly, 2023
This article develops a liberal theory of the virtues in business I first articulate two key liberal values embodied within market society: self-authorship and mutual benefit Selfauthorship is a mode of autonomy given expression through the effective exercise of economic liberties Mutual benefit involves the intentional pursuit of the well-being of one ’ s transaction partners within economic exchange These values are uniquely realized, I argue, within business, conceptualized as a distinct, firm-level, social practice
Business and the Ethics of Recognition
Journal of Business Ethics, 185: 1-16, 2023.
Recognition is a fundamental good that corporations ought to give to employees, a good that is essential to their well-being, and thus, recognition should be among the central notions in our understanding of organizations and in any theory of business ethics Drawing upon the work of Philip Pettit and Robert Brandom as well as themes from instrumental stakeholder theory, I develop a complex notion of recognition involving both status recognition and capacity recognition and argue that this account meets three fundamental desiderata of any adequate account of business ethics
The Virtues of Covid 19: How Working from Home Can Make Us the Best (or Worse) Versions of Ourselves
Co authors : Rocchi, Marta
Business and Society Review Ethics Journal, 127(3): 685-700, 2022
The combined effect of technological innovations in the workplace and the lockdowns imposed by the COVID-19 pandemic has rapidly increased the prominence of remote working, with an undeniable impact on both business and society In light of this organizational and sociological change, this article analyzes how this renewed work environment can be the place where workers can develop several relevant virtues, specifically moderation, integrity, and mercy
Mazhar Islam
Assistant Professor of Management, Faculty Director of the Center for Entrepreneurship and Community Development, and holder of the Stanford H. Rosenthal Professorship in Risk, Insurance and Entrepreneurship
Dr Mazhar Islam is Assistant Professor of Management at Loyola University New Orleans, where he also directs the Center for Entrepreneurship and Community Development and holds the Stanford H Rosenthal Professorship He earned his Ph D in Strategic Management from the University of Minnesota
His research focuses on entrepreneurship, strategic management, and the global business environment, with work published in Journal of Business Venturing, Research Policy, and California Management Review His book Demography and the Global Business Environment (Edward Elgar, 2021) was named by BookAuthority as one of the “20 Best Demography Books of All Time
Dr Islam has received awards from the Strategic Management Society and the Entrepreneur & Innovation Exchange Before academia, he worked internationally in engineering, consulting, and investment banking Originally from Bangladesh, he has lived in five countries and traveled to more than 40
Supporting Refugees: An Entrepreneurial Resourcefulness Approach.
Co authors : Hans RawhouserLisa Jones Christensen, Elizabeth Embry, Trenton A Williams, Michael Conger, and Cindy Trussel
Journal of Business Venturing Insights, Volume 22, 2024
This rapid research paper seeks to aid Lighthouse Charities (LC), a Las Vegas-based refugee-sponsoring organization Rather than channeling all refugees toward entrepreneurship, LC utilizes a two-pronged entrepreneurial resourcefulness approach LC creates refugee-focused work integration social enterprises (WISEs) and also supports refugee clients as entrepreneurs
Insider Trading Profitability in Geographically Diversified Firms: Does Managerial Ability Matter?
Co authors : Chen Li, and Shantanu Dutta
Applied Economics Letters, 1-10, 2024
We examine the impact of managerial ability on insider trading profitability within geographically diversified firms, where operational complexity can potentially increase insider advantages We analyse a sample of 54,899 insider purchase transactions and find that higher managerial ability significantly reduces the positive relationship between geographical diversification and insider trading profitability
Old vs. Young Nations: Opportunities and Challenges for Entrepreneurs.
Co authors : Alfred Marcus
Entrepreneur & Innovation Exchange, 2022
This article explains how worldwide demographic changes are likely to affect entrepreneurship in the future Our observations are drawn from our recently published book entitled “Demography and the Global Business Environment ” The book is based on research that we have done, both independently and jointly, in the area of strategic management In the book, we provide much more detail on the topic below
The Role of Acquisition Experience in Acquirer-Advisor Relationship Formation.
Co authors : Carmen Weigelt, and Haemin D Park
Advances in Mergers and Acquisitions, Volume 2, pp 85-116, 2022.
We consider conditions under which firms hire an intermediary advisor in acquisition deals Although acquirers pay large advisory fees to investment banks for their assistance in acquisitions, we know little about the conditions under which acquirers form a relationship with an investment bank for an acquisition deal Specifically, we examine the role of overall acquisition experience, acquisition experience specific to the target’s industry, prior relationship-specific experience, and deal size in relationship formation and continuation
Adapting to Global Demographic Deficits in Disproportionately Old Nations: Business Opportunities and Challenges.
Co authors : Alfred Marcus
California Management Review, December 2021
Disproportionately old nations such as Japan, Germany, and the U S start with many advantages, but they suffer from demographic deficits that arise because of rapid decline in their working-age population As these deficits rise, they must find the resources to care for the elderly effectively while nurturing the young adequately To manage, they need some combination of technological innovation that advances productivity with greater automation, and liberal immigration policies
