Research Output

We take pride in the quality of research papers produced by our students. Please find here below the most recent publications and awards.

Recent Academic Output

Anthony Silard (IESE PhD Candidate)
OCIS Desanctis Award & William H. Newman Award Nominee for his paper “The Internet Bait-and-Switch: The Influence of Connectivity on Contactedness and Connectedness” at the Academy of Management Annual Meeting 2015 (Vancouver).  


Pedro Silva Belisario (IESE PhD Candidate)
His paper "Information Spillovers: The Effect of Analyst Coverage on Stock Returns Co-movement" was awarded with the Best Paper Award of the 2015 London Business Research Conference and the 2015 Paris Business Research Conference.    


Horacio Rousseau (IESE MRM Student)
Best Paper Award for his paper “Let´s Talk: Studying Dialogue among Firms and Outside Actors on Social and Environmental Issues” at the Academy of Management Conference 2014

Abstract: Relying on the institutional logics perspective, we analyze the factors that enable dialogue between corporations and external actors on social and environmental issues. We define an institutional context consisting of an overarching shareholder value logic, a social welfare logic and an environmental logic. Using data on shareholder activism, we found that both external actor power and CEO NGO experience are important features in fostering dialogue with corporations on both social and environmental issues. The external actor’s legitimacy, CEO’s NGO experience, and CEO participation in boards are significant factors to promote dialogue on social but not on environmental matters. CEO elite education, long-term CEO pay, and corporate visibility all have significant effects on enabling dialogue on environmental but not on social issues. These results indicate support the idea that social and environmental issues are rooted in different institutional logics.

Federica Foce Massa's paper “When Complexity Clarifies: Sensemaking in an Institutionally Complex Setting”, was selected as one of 10 finalists for the 2014 SMS Best Conference PhD Paper Prize competition.

Abstract: Institutional logics have traditionally been described as constraining the understanding of reality. Thanks to the privileged setting of an ongoing collaboration between a fashion firm and a fair trade organization, I observe how individuals make sense of the institutional logic in which they are embedded – the internal logic – and of an institutional logic that they are exposed to – external logic – in an institutionally complex setting. I suggest that the exposure to an external logic can improve understanding of reality by helping the holders of the internal logic to make sense of those implicit and automatic practices adopted in their business that have never been rationalized despite their strategic importance.

Bilgehan Uzunca's paper “From Decanter to Bottleneck? How Industry Evolution and Governance Inseparability Shape Value Migration in Ecosystems”, was selected as well, as one of 10 finalists for the 2014 SMS Best Conference PhD Paper Prize competition. Two IESE PhD candidates among the ten finalists

Abstract: How Industry Evolution and Governance Inseparability Shape Value Migration in Ecosystems”: This paper uses insights from the literatures on industry evolution and governance inseparability to complement extant work considering ecosystems from an industry architecture perspective. Focusing on the organization that strives to create an ecosystem, we argue that governance arrangements agreed with other parties in the nascent stages of ecosystem development limit the ability of the ecosystem leader to capture a greater share of value from its key markets as these grow and mature. The addition of industry evolution and governance inseparability considerations into the industry architectures framework allows us to explain why ARM, a firm whose processor designs are dominant in mobile devices such as smartphones and tablets, captures relatively little of the value generated by the ecosystem which it created.
 Catarina Moschieri

The Academy of Management Perspectives recently published the research paper“When Theory Doesn’t Meet Practice: Do Firms Really Stage Their Investments?”produced by Catarina Moschieri and coauthored by R. Ragozzino. Catarina Moschieri, IESE PhD 2008 is currently active as Assistant Professor Strategy at Instituto de Empresa Business School – Spain.

Abstract: Theory has often discussed the benefits of adopting a staged investment strategy in mergers and acquisitions when investments hold uncertain prospects. Specifically, firms should enter into a cooperative agreement, such as a strategic alliance, before they eventually decide to buy out a partner. In this paper, we first review the theoretical arguments supporting such an approach and then provide evidence showing that staged investments in mergers and acquisitions are far less frequent than theory predicts. We analyze a sample of 24,495 global transactions that occurred between 1995 and 2010 and find that firms stage mergers and acquisitions in only 1.26% of all deals. This figure changes little after we control for transaction- and environmental-level considerations. We propose several explanations of why staged investments are seldom used in practice, despite their theoretical properties.
 Lisa Hehenberger

The Academy of Management Journal will shortly publish a paper produced by Lisa Hehenberger titled "Front Stage and Back Stage Convening: The Transition From Opposition to Mutualistic Co-Existence in Organizational Philanthropy." The paper is available online since December 3, 2013, and was coauthored by Prof. Johanna Mair, Professor at Stanford University. Lisa Hehenberger, IESE PhD graduate 2010, currently works as Research Director at the European Venture Philanthropy Association.


Abstract: Actors who support dissimilar institutional models can overcome conflict and move toward mutually beneficial co-existence. To see how, we studied the emergence of venture philanthropy, a rationalized approach to organizational philanthropy in Europe. Our analysis leverages multiple sources of data and focuses on field-configuring events as settings for interactions. We show how convening—bringing together dissimilar actors—in different types of events creates relational spaces for negotiation over institutional models, their practices, and their underlying assumptions. Front stage interactions in public spaces are important in making models accessible to a broad audience, whereas backstage interactions in protected spaces allow models to be deconstructed. Our findings show that the interplay between front stage and back stage enables the reframing of institutional models by refining the constituent practices, which neutralizes opposition and facilitates joint courses of action. Our results contrast with popular accounts of competing institutional logics, advance organizational research on the role of events in field trajectories, and inform research on organizational philanthropy.

Minna Paunova

Minna Paunova, and her co-author Yih-teen Lee, obtained the "Overall Best Paper Award", at the 11th Workshop on International Management of the European Institute for Advanced Studies in Management, Berlin, October 2013. 

Furthermore she was Emerald Best International Symposium Finalist, Academy of Management – August 2013 with her paper "Exploring the dynamics of collocated and global multicultural teams". Symposium organized at the Academy of Management Annual Meeting in Orlando, FL (OB, IM and GDO Divisions).

And she was also among the Best Reviewers, Academy of Management – IM Division – 2013

Yuliya Snihur

The IESE PhD student Yuliya Snihur received the "Best PhD Paper Award" at the Strategic Management Society conference, held in Atlanta this past September. The paper, titled “Cognitive Microfoundations of a Dynamic Capability: What Leads to Business Model Innovation in New Firms?," was written with the assistance of Prof. Christoph Zott. Yuliya defended her thesis in September 2013 and is currently working as Assistant Professor of Strategic Management at Toulouse Business School. Linkedin - Personal blog


Abstract: In this paper we build grounded theory about what leads to business model innovation (BMI), which we conceptualize as a dynamic managerial capability for new firms. By comparing four cases of high-BMI ventures to four start-ups displaying low BMI we examine the sources of these divergent outcomes. Surprisingly, team-level effects are less noteworthy than usually expected in the innovation literature: indeed, teams are associated with a lack of BMI in our sample. Analyzing data from 48 interviews and secondary sources, we find, however, important individual cognitive differences between firm founders who design new business models as compared to those founders who do not. In particular, we find that differential founder deployment of external search behavior and attention focus lead to distinctive levels of BMI.

Yuliya is among the three finalists for The Heizer Dissertation award with her dissertation paper “Business Model Innovation: Exploring the Concept, its Antecedents and Consequences” (written under supervision of Prof. Christoph Zott). The Heizer Doctoral Dissertation Award in New Enterprise Development was the Entrepreneurship Division’s first doctoral dissertation award. The Heizer Award was established through the original sponsorship of The Heizer Corporation, and the continuing sponsorship of Mr. Edgar F. “Ned” Heizer, Jr. Its purpose is to recognize and honor outstanding doctoral research in the area of New Enterprise Development.

Abstract: By combining one theoretical and two empirical essays, in this dissertation we explore business model innovation (BMI), a distinct innovation type, studied in the context of both new and established firms. We argue and empirically show that BMI is distinct from other innovation types (i.e. product, process, and management innovation), provide a more nuanced understanding of the concept, and examine the drivers of BMI. We theoretically build on institutional theory as well as on strategic management research on imitation, dynamic capabilities, and managerial cognition, contributing to the current debates within the innovation, strategy, and entrepreneurship fields. While maintaining the focus on theory development, we employ diverse research methods, such as multiple case studies and a survey to develop and test various propositions.  

Work in ProgressPhD Candidates
Entrepreneurship in conditions of extreme poverty: Shedding light into the heart of darkness,Strategic Management Society, Conference, November 2011 Miami, Florida (USA)Federica Massa Saluzzo
Genesis of organizational identity: so similar, yet so different,Strategic Management Society, Conference, November 2011, Miami, Florida (USA)Yuliya Snihur
Personal relationships and innovation diffusion in SME networks: A content analysis approach”, Journal: El Sevier( October 2011.Federica Ceci and Daniela Iubatti
PublicationsRecent Ph.D. Graduates
Creating an ethical work context: A pathway to generate social capital in the firm. Journal of Business Ethics, vol.88 (3): 477-489David Pastoriza
The Determinants and Performance Effects of Managers' Performance. Evaluation Biase. The Accounting Review 86(5)Jasmijn Bol
The Business Model: Recent Developments and Future Research. Journal of Management, July 2011; vol. 37, 4: pp. 1019-1042Lorenzo Massa
Building Inclusive Markets in Rural Bangladesh: How Intermediaries Work Institutional Voids, Academic Management Journal, August 2012, 55, 819-850Johanna Mair, Ignasi Martí and Marc J. Ventresca
Government efficiency and international technology adoption: The spread of electronic ticketing among airlines, Journal of International Business Studies 43: pages 631-654Roberto Martin N Galang

Contact PhD

Desiree Elisabeth Janssen