Entrepreneurship Research Leaders - Kelley School of Business ...

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Entrepreneurship Research Leaders - Kelley School of Business ...

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World Class

Entrepreneurship Research Leaders


indiana university

kelley school of business n nnnn

World Class

Entrepreneurship Research Leaders


(Gilclear sheet lays over this photo)


World Class Leadership in the Field of

Entrepreneurship Research

The Kelley School of Business at Indiana University has established itself as a

world leader in academic research. Ranked in the Top 25 in terms of faculty

research, some of the world’s finest entrepreneurship researchers and scholars are

part of the Entrepreneurship Team at Indiana University! Research productivity

drives the heart and soul of a university. In order to become the world’s premier

entrepreneurship university, it is our research and scholarly activities that must

lead the way.

In the following pages we have attempted to highlight the biographies and research

productivity of the Kelley School of Business faculty dedicated to entrepreneurship

research. This brief overview is an indication of the research

leadership emanating from Indiana University. Our credo is “World Class” in

everything we stand for here at IU’s Kelley School of Business. In the field of

entrepreneurship research, we proudly outline our record of achievements as a

testament to the world class faculty that makes up the Entrepreneurship Team

at Indiana University. This faculty is leading the way for Indiana University’s

Kelley School of Business to establish itself as a premier institution for entrepreneurship

throughout the world.

“The mind, once stretched by a compelling idea, will never again return to its original shape.”

-william wordsworth

You routinely receive brochures where Deans or Department Chairs share the accomplishments

of their schools. Our intent with this publication is not to merely update you on what we are

doing in the area of entrepreneurship, but to encourage your faculty to contact our faculty and

explore potential areas of collaboration.

We believe that knowledge has the power to profoundly change lives, organizations and entire

societies. Nowhere in the Kelley School is this philosophy embraced with greater passion than

in the area of entrepreneurship. On the research front, our goal is to be recognized as an important

source of ideas – ideas that fundamentally advance both theory and practice.

In recent years, the Kelley School faculty has published over 125 refereed articles covering a

wide range of topics in entrepreneurship such as governance, managing the transition stages of

family-run businesses, managing rapid growth, and success factors related to corporate entrepreneurship,

among many others. Our faculty has also published over 20 books in the area of

entrepreneurship and in so doing, has significantly shaped the way the subject is taught around

the world.

On the following pages, you will learn more about the incredible scope of research activity of

our faculty. While I am proud of their productivity, what excites me most is how it has come

about. In recent years, we have hired scholars who are sincerely interested in changing the world

through entrepreneurship and have created an exciting culture of research where collaboration

among colleagues and doctoral students is the norm, not the exception. Kelley faculty subscribes

to a “problem-solving” approach to research and strives to speak to both academic and

practitioner audiences. They tackle important practical topics, study them with rigor, and disseminate

the results not only in top academic journals, but also in influential “trade-oriented”

publications. We firmly believe that we cannot accomplish our aim of changing business practice

by only sharing new knowledge with each other through the pages of academic journals.

My hope is that by reviewing this publication, you and your colleagues will see some areas of

research overlap with our faculty and as a result, new research partnerships will emerge.

Entrepreneurially Yours,

Dr. Daniel C. Smith

Dean of the Kelley School of Business

The Clare W. Barker Chair and Professor of Marketing

Indiana University – Bloomington

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World Class Entrepreneurship

Research Initiatives

Ph.D. Program in Entrepreneurship

Established in 2000 and awarded the National Model Ph.D. Program in Entrepreneurship by

the U.S. Association of Small Business & Entrepreneurship. This specialized program in doctoral

research studies prepares the next generation of scholars for the entrepreneurship field.

Babson Entrepreneurship Research Conference

In 2006, Indiana University’s Kelley School of Business hosted the annual Babson College

Entrepreneurship Research Conference. Over 325 entrepreneurship scholars from 29 nations

visited the IU campus to share some of the leading research in the entrepreneurship field.

The 21 st Century Entrepreneurship Research Fellows

This honored group of global entrepreneurship scholars, developed through the National

Consortium of Entrepreneurship Centers, is an initiative under the Kelley School of Business

to facilitate the best in entrepreneurship research.

The National Consortium of Entrepreneurship Centers (NCEC)

This network of over 150 university entrepreneurship centers is growing rapidly to become

the premier focal point for all entrepreneurship centers. The consortium is under the direction of

Dr. Donald F. Kuratko and Indiana University’s Johnson Center for Entrepreneurship & Innovation.

International Entrepreneurship Research Conference

Hosted at the Schloss-Ringberg Castle in Germany in 2007 in partnership with the Max Plank

Institute, this special research conference brings together some of the world’s finest researchers

in the entrepreneurship field. The theme was “Strategic Entrepreneurship” and a special volume

of Entrepreneurship Theory & Practice (ET&P) has been dedicated to the research emanating from

the conference.

Doctoral Consortiums

The international doctoral consortiums at the Academy of Management and the Babson

Research Conference have been chaired by Dr. Dean A. Shepherd and Dr. Jeffrey G. Covin

from Indiana University’s Entrepreneurship faculty. Their leadership has provided guidance and

insights to numerous Ph.D. candidates.

Entrepreneurial Thought Leadership

A regular feature in the quarterly publication, The Indiana Entrepreneur, which is published by the

Johnson Center for Entrepreneurship & Innovation. This feature provides a synopsis of the

research leaders in entrepreneurship at IU’s Kelley School of Business and includes each faculty

member’s high impact research in the field of entrepreneurship.

International Ph.D. Seminar in Entrepreneurship

This annual week long international Ph.D. seminar in entrepreneurship is conducted by the

entrepreneurship faculty at IU’s Kelley School of Business for the purpose of broadening and

deepening the entrepreneurship research backgrounds of current Ph.D. students seeking to

specialize in entrepreneurship.

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World Class Research Faculty

in Entrepreneurship

Dr. David B. Audretsch

Ameritech Chair of Economic Development;

Director of the Institute for Development Strategies

Research Expertise: Global Leadership in Entrepreneurship & Economic Development

David B. Audretsch is the Ameritech Chair of Economic Development and the Director of

the Institute for Development Strategies at Indiana University. In addition, he is the Director

of the Entrepreneurship, Growth and Public Policy Group at the Max Planck Institute in Jena,

Germany, and is a research fellow of the Centre for Economic Policy Research (London). He

has consulted with the World Bank, National Academy of Sciences, U.S. State Department,

United States Federal Trade Commission, General Accounting Office and International Trade

Commission, as well as the United Nations, Commission of the European Union, the European

Parliament, the OECD, and a number of European governments.

As Dr. Audretsch’s research has focused on the links between entrepreneurship, government

policy, innovation, economic development and global competitiveness, two vivid illustrations

of Dr. Audretsch’s insightful research are the introduction of the Knowledge Spillover Theory of

Entrepreneurship and Entrepreneurship Capital. His research has been published in over one hundred

scholarly articles in the leading academic journals. Some of his more powerful articles include:

“R&D Spillovers and the Geography of Innovation and Production” with Maryann P. Feldman,

American Economic Review, 86(3), June, 1996, 630-640; “Company-Scientist Locational Links:

The Case of Biotechnology,” with Paula E. Stephan, American Economic Review, 86(3), June, 1996,

641-652, and “Does Entrepreneurship Capital Matter?” with Max Keilbach, Entrepreneurship

Theory and Practice,Vol.28,No.5, September, 2004, 419-430. He has published thirty books, including:

Entrepreneurship and Economic Growth, with Oxford University Press, 2006, and The Entrepreneurial

Society, Oxford University Press, 2007. He is co-founder and co-editor of Small Business

Economics: An International Journal.

The powerful impact of Dr. Audretsch’s research earned him the highest global award from

entrepreneurship research: The International Award for Entrepreneurship and Small Business

Research presented by the Swedish Foundation for Small Business Research.

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Dr. Patricia P. McDougall

The William L. Haeberle Professor of Entrepreneurship;

Professor of Strategic Management & the Associate Dean

for Faculty and Research for the Kelley School of Business

Research Expertise: Strategic and International Entrepreneurship

Patricia P. (Tricia) McDougall is the Associate Dean for Faculty and Research as well as the

William L. Haeberle Professor of Entrepreneurship at Indiana University’s Kelley School of

Business. Her major research interests include accelerated internationalization and new venture

strategies. She has co-edited three books and published in a variety of journals, including

Academy of Management Journal, Journal of Business Venturing, Entrepreneurship Theory and Practice, Strategic

Management Journal, Journal of Management, Journal of International Business Studies, Journal of Business Ethics,

and Academy of Management Executive. Her business cases appear in more than twenty-five books,

and her research has also been presented in the business press, including Inc. Magazine, USA

Today, and The Wall Street Journal. She is a 21st Century Entrepreneurship Research Fellow and

in a survey published in the Journal of Management she was identified as the third most published

author in entrepreneurship.

Dr. McDougall has been credited as one of the pioneers in the field of international entrepreneurship.

Working for years with her co-author Dr. Benjamin M. Oviatt from Georgia State

University, she changed the research focus in international business from an exclusive interest in

large multinational firms to also include entrepreneurial firms. Together their research on new

venture firms which internationalized soon after inception challenged traditional theories of

internationalization and pierced the then-held belief that internationalization was the preserve

of established firms.

Dr. McDougall and Dr. Oviatt are the first entrepreneurship scholars to ever receive the prestigious

Journal of International Business Studies (JIBS) Decade Award. Their recent article entitled, “The

Internationalization of Entrepreneurship,” was published in the Journal of International Business

Studies (JIBS) in January 2006. The article is a retrospective essay of their research in international

entrepreneurship over the past decade and was published to honor Drs. McDougall

and Oviatt for their receipt of the 2004 JIBS Decade Award for their 1994 article on the early

internationalization of new ventures. The original 1994 article was also reprinted in the January

2006 issue of JIBS, along with commentary on the original article and authors’ careers from the

journal’s editor and two noted scholars. The Decade Award is given annually to the article that has

had the most significant impact on international business research during the past decade. This

prestigious award was presented at the annual meeting of the Academy of International Business

held in Stockholm, Sweden.

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Dr. Jeffrey G. Covin

The Samuel and Pauline Glaubinger Professor of Entrepreneurship;

Professor of Strategic Management

Research Expertise: Corporate Venturing and Strategic Entrepreneurship

Jeffrey G. Covin is the Samuel and Pauline Glaubinger Professor of Entrepreneurship and

Professor of Strategic Management at the Kelley School of Business, Indiana University -

Bloomington. Dr. Covin is a leading scholar in the fields of entrepreneurship, strategic management,

and technology management, with several dozen articles published in journals such

as Strategic Management Journal, Journal of Management, Journal of Business Venturing, Entrepreneurship Theory

& Practice, Journal of Management Studies, Journal of Business Ethics, Sloan Management Review, Journal of

Business Research, and the Journal of High Technology Management Research. His research has been recognized

nationally with awards including ET&P’s Best Journal Article award for the years 1991 and

1997 and the U.S. Association of Small Business and Entrepreneurship (USASBE) Best Journal

Article in Corporate Entrepreneurship award for the years 1991 and 2000. His articles have twice

been chosen for the prestigious AnBar Citation of Excellence Award. Dr. Covin was identified as the

second-most published author of scholarly articles on the topic of entrepreneurship in a study

published in the Journal of Management in 1997. Dr. Covin has co-authored Corporate Entrepreneurship

& Innovation (South-Western/Thomson Publishers, 2007). Dr. Covin co-developed the

Ph.D. in Entrepreneurship Program at Indiana University which received national acclaim by

being named the National Model Ph.D. Program in Entrepreneurship by USASBE. Dr. Covin has been

named a 21st Century Entrepreneurship Research Fellow by the National Consortium of Entrepreneurship

Centers. In 2005, he was awarded the prestigious Entrepreneurship Mentor Award by the

Academy of Management for his exemplary work in developing Ph.D. students and junior-level

faculty in the entrepreneurship field. Prior to joining the Kelley School of Business, Dr. Covin

held the Hal and John Smith Chair of Entrepreneurship and Small Business Management at

the Georgia Institute.

The powerful impact of Dr. Covin’s research has earned him numerous awards for best article

including twice receiving the U. S. Association of Small Business and Entrepreneurship

(USASBE) Best Journal Article in Corporate Entrepreneurship. His dedicated leadership in developing

the Ph.D. Program in Entrepreneurship at Indiana University as well as the successful Ph.D.

students he has mentored earned him the prestigous Entrepreneurship Mentor Award by the Academy

of Management.

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Dr. Donald F. Kuratko

The Jack M. Gill Chair of Entrepreneurship, Professor of Entrepreneurship

& Executive Director of the Johnson Center for Entrepreneurship & Innovation

Research Expertise: Corporate Entrepreneurship and Entrepreneurship

Donald F. Kuratko is The Jack M. Gill Chair of Entrepreneurship, Professor of Entrepreneurship

and Executive Director the Johnson Center for Entrepreneurship & Innovation, the Kelley School

of Business, Indiana University -Bloomington. He is considered a preeminent scholar and national

leader in the field of entrepreneurship. He has published over 150 articles on aspects of entrepreneurship,

new venture development, and corporate entrepreneurship.

His work has been published in journals such as Strategic Management Journal, Academy of Management

Executive, Journal of Business Venturing, Entrepreneurship Theory & Practice, Journal of Small Business Management,

Journal of Small Business Strategy, Family Business Review, and the Journal of Business Ethics. Dr. Kuratko has

authored 22 books, including the leading entrepreneurship book in American universities today,

Entrepreneurship: Theory, Process, Practice, 7th ed. (South-Western/Thomson Publishers, 2007), as well

as Strategic Entrepreneurial Growth, 2nd ed. (South-Western/Thomson Publishers, 2004), Corporate

Entrepreneurship & Innovation (South-Western/Thomson Publishers, 2007), Corporate Entrepreneurship

(South-Western/Thomson Publishers, 2002),The Human Resource Function in Emerging Enterprises,

(South-Western/Thomson Publishers, 2002), Effective Small Business Management, 7th ed. (Wiley &

Sons Publishers, 2001), and Entrepreneurial Strategy (Dryden Press/Harcourt Brace & Co., 1994).

In addition, Dr. Kuratko has been consultant on Corporate Entrepreneurship and Entrepreneurial

Strategies to a number of major corporations such as Anthem Blue Cross/Blue Shield, AT&T,

United Technologies, Ameritech, Union Carbide Corporation, ServiceMaster and TruServ. Under

his leadership, Indiana University’s Entrepreneurship Program has recently been ranked #4 in the

nation by Entrepreneur magazine, named one of the Top 5 Entrepreneurial Business Schools by the

Princeton Review as reported in Forbes magazine, achieved Top 4 Graduate Business Schools for Entrepreneurship

(public institutions) and the #1 Undergraduate Business School for Entrepreneurship (public institutions) in U.S.

News & World Report’s elite rankings.

Dr. Kuratko was honored as the Entrepreneur of the Year for the state of Indiana and was inducted into

the Institute of American Entrepreneurs Hall of Fame. He has been honored with The George Washington Medal

of Honor; the Leavey Foundation Award for Excellence in Private Enterprise; the NFIB Entrepreneurship Excellence

Award; and the National Model Innovative Pedagogy Award for Entrepreneurship. In addition, Dr. Kuratko

was named the National Outstanding Entrepreneurship Educator (by the U.S. Association for Small Business

and Entrepreneurship) and he was selected one of the Top Three Entrepreneurship Professors in the

U.S. by the Kauffman Foundation, Ernst & Young, Inc. magazine, and Merrill Lynch. He received

the Thomas W. Binford Memorial Award for Outstanding Contribution to Entrepreneurial Development from the

Indiana Health Industry Forum. Dr. Kuratko has been named a 21st Century Entrepreneurship Research

Fellow by the National Consortium of Entrepreneurship Centers as well as the U.S. Association for

Small Business & Entrepreneurship Scholar for Corporate Entrepreneurship in 2003. Finally, he has been

honored by his peers in Entrepreneur magazine as one of the Top Two Entrepreneurship Program

Directors in the nation for three consecutive years including the #1 Entrepreneurship Program Director

in 2003.

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Dr. Dean A. Shepherd

Associate Professor of Entrepreneurship & Dean’s Research Fellow

Research Expertise: Venture Strategy and Decision Making

Dean A. Shepherd is a Dean’s Research Fellow and Associate Professor of Entrepreneurship at

the Kelley School of Business, Indiana University. Dr. Shepherd received his doctorate and MBA

from Bond University (Australia) and a Bachelor of Applied Science from the Royal Melbourne

Institute of Technology.

Dr. Shepherd’s research is in the field of entrepreneurship. Given that there is a general tendency in

today’s business environment for the shortening of product and business model lifecycles, future

profit streams from existing operations are uncertain and entrepreneurs need to constantly seek

out new opportunities. The pursuit of opportunities often requires access to resources beyond

those of the individual and can result in the creation of new ventures or improved growth and

profitability for existing businesses. Along with the promise of high returns, entrepreneurs and

their businesses face the risk of failure. Dr. Shepherd’s past and present entrepreneurship research

focuses on four specific areas: (1) Entrepreneurial Opportunity. Dr. Shepherd’s work focuses on the

role of individuals’ knowledge and motivation in the acknowledgement and exploitation of opportunities.

In a recent Academy of Management Review paper, McMullen and Shepherd (2006) were

able to reconcile economic theories of the entrepreneur that were previously considered alternate

explanations. He has also concomitantly considered knowledge and motivation in the pursuit

of entrepreneurial careers through a combination of theoretical, analytical, and experimental research.

(2) Stakeholder Support for Entrepreneurial Firms. Dr. Shepherd’s research has made a number of

contributions to knowledge of venture capitalists’ decision making. (3) Entrepreneurial Strategies. Dr.

Shepherd’s research in this stream focuses on entrepreneurs’ decisions to position their firms for

success, especially considering the role of knowledge, motivation, and how entrepreneurs choose

to position their firms by their resource allocation decisions. (4) Failure of Entrepreneurial Businesses.

Entrepreneurship and strategy research has an anti-failure bias, with little research on failure other

than how firm failure should be avoided and acknowledgement that project failure within a firm

can represent an important learning opportunity. Recently in an article in the Academy of Management

Review, Dr. Shepherd explored the emotional consequences of failure for entrepreneurs; that the

loss of a business due to failure can cause the self-employed to feel grief – a negative emotional

response from the loss of something important – which interferes with the ability to learn from

the events surrounding that loss. He then proposed a dual process of grief recovery that minimizes

emotional interference and enhances the ability of the self-employed to learn from the loss

of a business.

Focusing on the four streams described above, Dr. Shepherd has published primarily in the top

general management journals (Academy of Management Review, Journal of Management, Management Science,

and the Strategic Management Journal), top general operations journals (European Journal of Operational

Research) and the top specialized entrepreneurship journals (Journal of Business Venturing and Entrepreneurship

Theory & Practice).

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Dr. Gregory F. Udell

The Bank One Chair of Banking and Finance;

Professor of Finance

Research Expertise: Venture Capital and Entrepreneurial Finance

Gregory F. Udell is the Bank One Chair of Banking and Finance at the Kelley School of Business,

Indiana University. He received his undergraduate degree in economics from DePauw

University and both his MBA and his Ph.D. degrees in finance from Indiana University. Prior

to joining Indiana University in 1998, Dr. Udell was a member of the faculty of New York

University where he was a Professor of Finance and Director of the William R. Berkley Center

for Entrepreneurial Studies at the Stern School of Business. He has also recently taught at the

Indian School of Business in Hyderabad, India and the International Graduate Business School

in Zagreb, Croatia.

Dr. Udell is a member of the Academic Advisory Board of the Turnaround Management Association,

a member of the Board of Directors of the Georgetown University Credit Research

Center, a member of the Board of Directors of the Financial Management Association, and

he has been the Vice President for Global Services of the Financial Management Association.

Prior to starting his academic career he was a commercial loan officer at the National Boulevard

Bank and then Vice President at the Marina Bank (part of the former LaSalle group), both in

Chicago. He has also been a visiting economist and consultant to the Board of Governors of the

Federal Reserve System, a visiting scholar at the Bank of Japan, a consultant to the World Bank

and is currently a consultant to the Federal Reserve Bank of Chicago.

Dr. Udell has published articles on financial contracting, credit availability and financial intermediation

in academic journals including the Economic Journal, Journal of Banking and Finance, Journal

of Business, Journal of Financial Economics, Journal of Financial Intermediation, Journal of Money, Credit and

Banking, Journal of Monetary Economics, and the Journal of Political Economy. He is the author of a

textbook on asset based lending, Asset-Based Finance (2004), and a co-author (with L. Ritter and

W. Silber) of Principles of Money, Banking and Financial Markets, 11th edition (2004). Dr. Udell is

an associate editor or member of the editorial boards of seven journals including the Journal of

Money, Credit and Banking, Journal of Banking and Finance, Journal of Financial Services Research and Small

Business Economics. He has also been a co-editor of two special issues of the Journal of Banking and

Finance, one on deposit insurance and one on small business finance; and has been a co-editor of

a special issue on community banking in the Journal of Financial Services Research.

Much of Dr. Udell’s current research activity involves investigating the financial constraints

faced by small and mid-sized (SMEs) enterprises in different countries. His current working

papers include studies of SME financing and banking relationships in Spain, Japan, and Korea.

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Dr. Marc J. Dollinger

Professor of Business Administration & Entrepreneurship

Research Expertise: Entrepreneurial Strategies

Marc J. Dollinger is a Professor of Business Administration and held the Glaubinger Professorship

in Business in the Management Department at the Kelley School of Business, Indiana

University. He received his MBA and Ph.D. from Lehigh University (‘78, ‘82) in Pennsylvania

and spent five years at the University of Kentucky before his appointment to Indiana. He earned

his B.A in history at the University of Buffalo (1972).

The major focus of Dr. Dollinger’s career has been devoted to teaching, researching and consulting

entrepreneurship and small business issues. His most current work examines the influence

of creative cognitive style on new venture creation. He is also at work investigating the effect

of mega-events (like the Indianapolis 500 ® ) on entrepreneurship. Marc is also a member of

the editorial board of the Journal of Asian Business Studies and a former member of the boards of

Entrepreneurship: Theory and Practice and the Academy of Management Review. His 1990 paper, “The

Evolution of Collective Strategies in Fragmented Industries”, was awarded the Best Paper Award

by the Academy of Management Review. His textbook, Entrepreneurship: Strategies and Resources was first

published in 1995, is now in its third edition, and is being revised for a fourth edition. He

has written extensively about small business and entrepreneurship and has over 50 articles and

presentations to his credit.

Dr. Dollinger was the Chairman of the Kelley School of Business’s Undergraduate Program

(1999-2005). He teaches both undergraduate and MBA entrepreneurship and strategy courses

at Indiana University’s Kelley School of Business and the Kelley Direct online program. He

has led graduate and undergraduate study tours to China and Japan. Dr. Dollinger spent three

years as a consultant for the Small Business Development Center Program during which time he

counseled hundreds of potential entrepreneurs and small firms. He has designed, developed and

conducted workshops for many small business groups, including manufacturer’s representatives

of a major medical products company, minority business owners, and owners of small firms

in the retail music business. He also conducts workshops for executives, most recently for the

Asian Pacific Management Development Consortium, ALCOA-CSI and Otis Elevator, North

American Operations.

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Dr. Dan R. Dalton

The Harold A. Poling Chair of Strategic Management;

Professor of Strategic Management; Director of the Institute for Corporate Governance;

and Dean Emeritus of the Kelley School of Business

Research Expertise: Corporate Governance and IPOs

Dan R. Dalton is the founding Director of the Institute for Corporate Governance, Dean

Emeritus, Professor of Strategic Management, and the Harold A. Poling Chair of Strategic

Management in the Kelley School of Business, Indiana University. He is a Fellow of the Academy

of Management and an inaugural member of its Hall of Fame. Professor Dalton is respected

as a premier scholar in the fields of strategic management and entrepreneurship as well as

being considered one of the most widely published academics. With over 280 research articles

to his credit in corporate governance, entrepreneurship, business strategy, law, and ethics, Dr.

Dalton’s research has been published in leading academic journals such as the Academy of Management

Journal, Academy of Management Review, Academy of Management Executive, Strategic Management Journal,

Entrepreneurship Theory & Practice, Journal of Business Venturing, Directors & Boards, Journal of Management,

California Management Review, among others. Additionally, his work has been frequently featured

in the business and financial press including, Business Week, Wall Street Journal, Fortune, Economist,

Financial Times, Boston Globe, Chicago Tribune, Los Angeles Times, New York Times, and the Washington Post.

Professor Dalton has consulted on corporate governance issues with over 125 public, corporate,

and industry groups such as: Abbott Laboratories, American Airlines, Ameritech, Ashland Oil,

AT&T, B. F. Goodrich, Chase Manhattan Bank, Chemical Bank, Chicago Transit Authority

(CTA), Chrysler Corporation, Cigna, City of Detroit, Colorado Department of Highways,

Coopers & Lybrand, Dallas Area Rapid Transit, Department of Defense, Department of Labor,

Department of the Navy, Farm Bureau Insurance, Federal Express, General Motors, Hartford

Insurance Group, P&G, RCA, and Xerox.

As a renowned classroom professor, Dr. Dalton has received over 45 MBA Teaching Excellence

Awards including twice named as Outstanding Faculty “Best Bet,” Top Twenty MBA Programs

in Business Week’s Annual Faculty Awards.

Serving as Dean of the Kelley School of Business from 1997 – 2004, he was instrumental

in securing $175 million in total development activity over the period; the total including

alternative revenue sources (e.g., Executive Education, Kelley Direct) would be approximately

$225 million; the total including special legislative appropriations for Kelley School of Business

construction initiatives would be approximately $265 million. Ranked as one of the Top 20

graduate and Top 10 undergraduate business schools in the world, the Kelley School of Business

stands as a tribute the tremendous leadership of Dr. Dan Dalton.

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Dr. Catherine M. Dalton

The David H. Jacobs Chair of Strategic Management;

Professor of Strategic Management;

& Research Director of the Institute for Corporate Governance

Research Expertise: Corporate Governance and IPOs

Catherine M. Dalton is a Professor of Strategic Management and holds the David H. Jacobs

Chair of Strategic Management in the Kelley School of Business, Indiana University. She also

serves as Editor of Business Horizons, a bi-monthly publication of the Kelley School of Business.

Dr. Dalton also serves as Research Director of the Institute for Corporate Governance and as a

Fellow in the Randall L. Tobias Center for Leadership Excellence. She received her Ph.D. degree

in strategic management from the Kelley School of Business, Indiana University, as well as her

MBA and B.S.B.A. (management) degrees from Xavier University. She has previously served on

the faculties of Purdue University, Ohio State University, and Miami University.

Dr. Dalton is an expert in corporate governance, with particular expertise in board composition,

board leadership structure, executive and director compensation, and firms’ ownership

structures. Her research spans all types of organizations, including entrepreneurial firms, small

businesses, large public corporations, and private organizations. She is considered one of the

premier scholars in the fields of strategic management and entrepreneurship, having specialized

in the area of corporate governance. Dr. Dalton’s research articles have been published in a variety

of notable academic and practitioner outlets, such as the Academy of Management Journal, Academy of

Management Review, Academy of Management Executive, Strategic Management Journal, Entrepreneurship Theory

& Practice, Journal of Business Venturing, Directors & Boards, Journal of Management, California Management

Review, among others. Professor Dalton teaches strategic management courses in both the graduate

and undergraduate degree programs in the Kelley School of Business, Indiana University, and

provides corporate governance training to corporate boards of directors. She is a member of the

Indiana University Alliance of Distinguished and Titled Professors and maintains memberships

in the Academy of Management and Strategic Management Society. She serves on the editorial

review board of the Journal of Business Strategy and contributes a feature column to the journal

called Governance Rules.

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Dr. Thomas P. Hustad

Professor of Marketing

Research Expertise: New Product Development

Thomas P. Hustad joined the Kelley faculty in 1977, bringing with him an interest in product

management and new product development. Dr. Hustad became involved in the earliest days

of the Product Development and Management Association, authoring its first monograph and

becoming its fourth president in 1981. In that position, he worked three years to create the Journal

of Product Innovation Management, which he later edited for over fifteen years. JPIM is the world’s

leading journal in the field of innovation management, based on citation impact as measured

by both the Science and Social Science Citation Indexes. Today, PDMA’s annual conference attracts

over 700 participants and is sponsored by Business Week, Microsoft Corporation and other

leading organizations.

Dr. Hustad has written articles for a number of journals, including the Journal of Marketing Research,

Journal of Advertising Research, Management Science and Design Management Journal. He has presented papers

to professional meetings in the United States, Canada and Europe and Asia, co-edited the

book Managing the Product Development Process and has contributed to five books including

the PDMA Handbook of New Product Development (Wiley – both first and second editions), Life

Style and Psychographics, Problems in Canadian Marketing, and Advertising Management: Practical Perspectives.

His doctoral dissertation won a first place award from the American Marketing Association in

1973. Dr. Hustad is the co-author of an article that is the eighth most cited marketing publication

in Management Science. It deals with issues surrounding challenges in forecasting sales of new

products.

He has received fifteen teaching awards from his graduate students during his two decades at IU,

was the first recipient of the Eli Lilly Alumni Teaching Excellence Award and was identified by Business

Week Magazine as a “best bet” MBA teacher. Dr. Hustad’s contributions have contributed to IU’s

recognition as a premier MBA marketing program, recognized recently by the Wall Street Journal

as the #1 MBA program in consumer marketing and also achieving distinction in other areas.

Dr. Hustad has been quoted in media as diverse as the New York Times, The Washington Post, USA Today,

Investor’s Business Daily, Wall Street Journal, Los Angeles Times, Globe and Mail, Christian Science Monitor,

Fortune, Newsweek, Smithsonian Magazine, Business Week, New England Business, Indianapolis Star, Indianapolis

News and Indianapolis Magazine. He appeared on PBS Television’s Nightly Business Report in a special

report on product innovation and delivered the invited inaugural address for the Dean of the

Copenhagen Business School.

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Dr. Paul N. Friga

Clinical Associate Professor of Management

Research Expertise: Entrepreneurial Consulting

Paul N. Friga is a Clinical Associate Professor at the Kelley School of Business at Indiana University

in Bloomington, Indiana, where he teaches courses in strategy and management consulting.

He also serves as the Director of the Kelley Consulting Academy (MBA Program) and

the Director of the Consulting Workshop (for undergraduates). He researches strategic decision-making,

knowledge transfer, intuition and entrepreneurship and has presented at numerous

conferences throughout the world.

Dr. Friga’s work has been published in The Academy of Management Learning and Education, Research

Technology Management, and a book by McGraw-Hill, The McKinsey Mind (2001). He serves on

the Editorial Board for The Academy of Management Learning and Education. He completed his Ph.D.

and MBA at the University of North Carolina at Chapel Hill and previously worked as a

management consultant for Price Waterhouse Coopers and McKinsey & Company. Dr. Friga’s

undergraduate degree (Honors Program) is from Saint Francis University, where he graduated

Magna Cum Laude with a double degree in management and accounting. He has also earned CPA

and CMA designations.

Dr. Friga has consulted for numerous Fortune 500 and mid-size businesses in various industries

including high technology, retail, water processing, wall/furniture manufacturing, higher education,

management consulting, not-for-profit, and public utilities. Recent clients include Boeing,

Boston Scientific, J.D. Power & Associates, Kimball Office Furniture, Microsoft, Price Waterhouse

Coopers, Scientific Atlanta, and The Greater Indianapolis Hospitality & Lodging Association.

He is also a faculty member in the Institute for Management Studies for whom he offers

approximately 10 one-day strategy seminars to executives in the U.S. and Europe each year.

nnn World Class Entrepreneurship Research Leaders 15


Dr. Todd Saxton

Associate Professor of Strategy & Entrepreneurship

Research Expertise: Strategy and Entrepreneurship

Todd Saxton is an Associate Professor of Strategy and Entrepreneurship at Indiana University

Kelley School of Business (Indianapolis) and is the Indiana Venture Center Faculty Fellow. Dr.

Saxton sits on the Board as one of the Indiana University liaisons to the Indiana Venture Center.

He is also on the Board of the Venture Club of Indiana, one of the largest and most successful

organizations for the venture community in the country. He received his undergraduate degree

in economics from the University of Virginia, with distinction, in 1985. He worked in business

consulting for two different firms from 1985-1991, primarily helping Fortune 500 companies

with acquisition and alliance programs and competitive strategy. He received his Ph.D. from

Indiana University in 1995 in strategy and entrepreneurship.

Dr. Saxton teaches and conducts research at Indiana University Kelley School of Business, primarily

in Indianapolis. He has won multiple teaching awards including the Lilly Teaching Award

as top graduate instructor. He specializes in corporate and competitive strategy, innovation, and

new venture formation and development. Dr. Saxton has guided the development of nearly 100

strategic analyses of existing companies, and over 20 business plans. Among these plans are the

roots of several successful businesses and a winner of the Indiana University business plan competition.

His research interests focus on the role of intangible resources such as reputation in the

success of large companies as well as new ventures. He has spent over 10 years analyzing the role

of reputation and other factors in alliance, acquisition and new venture success. Dr. Saxton has

published in the Academy of Management Journal, Strategic Management Journal and Journal of Management,

and has served on the Editorial Review Boards of the Academy of Management Review and Journal of

Management. His ongoing research on how new ventures develop and leverage their reputation with

key stakeholders promises to yield important findings for researchers as well as entrepreneurs.

Indiana University Kelley School of Business - Indianapolis administers Kelley’s evening MBA

program and Kelley Direct, our online program, and also houses the undergraduate business

programs on the campus of IUPUI. Kelley functions as one school with two locations, with

Kelley Indianapolis acting as a department within Kelley. Our students are actively engaged with

the venture community and with a number of classes and projects involving teams working with

fledgling ventures. The new Discovery, Innovation, and Ventures Enterprise (DIVE) formalizes

opportunities for our students with an interest in new venture and corporate entrepreneurship

to cultivate their entrepreneurial aspirations.

16 World Class Entrepreneurship Research Leaders nnn

Dr. W. Harvey Hegarty

Professor of Business Administration

Research Expertise: Creativity and Innovation

Dr. John W. Hill

The Arthur M. Weimer Faculty Chair

Professor of Accounting

Research Expertise: Emerging Life Science Companies

Dr. Johannes G. Denekamp

Faculty Lecturer of Management & Entrepreneurship

Research Expertise: Business Plan Development

Dr. William L. Haeberle

Professor Emeritus of Management & Entrepreneurship

Research Expertise: Turnaround Management

nnn World Class Entrepreneurship Research Leaders 17


High Impact Journal

Publications in Entrepreneurship

by faculty from the Kelley School of Business at Indiana University

Audretsch, David B. and Mahmood, Talat (1995) “New-Firm Survival: New Results

Using a Hazard Function,” Review of Economics and Statistics, Vol. 77, No. 1, 97-

103.

Audretsch, David B., Acs, Zoltan J. and Feldman, Maryann P. (1994) “R&D

Spillovers and Recipient Firm Size,” with Zoltan J. Acs and Maryann P. Feldman,

Review of Economics and Statistics, Vol. 76, No. 2, 336-340.

Acs, Zoltan J. and David B. Audretsch (1988) “Innovation in Large and Small Firms:

An Empirical Analysis,” American Economic Review, 78 (4): 678-690.

Audretsch, David B. and Feldman, Maryann P. (1996) “R&D Spillovers and the

Geography of Innovation and Production,” American Economic Review, 86 (3),

June, 630-640.

Audretsch, David B. and Stephan, Paula E. (1996) “Company-Scientist Locational

Links: The Case of Biotechnology,” American Economic Review, 86 (3), June, 641-

652.

Audretsch, David B. and Thurik, A. Roy (2007) “A Model of the Entrepreneurial

Economy,” International Journal of Entrepreneurship Education, Vol. 2, No. 2.

Audretsch, David B. and Keilbach, Max (2004) “Does Entrepreneurship Capital

Matter?” Entrepreneurship Theory and Practice, Vol. 28, No. 5, 419-430.

Audretsch, David B., Gilbert, Brett A., and McDougall, Patricia P. (2004) “The

Emergence of Entrepreneurship Policy,” Small Business Economics, Vol. 22, No. 4,

313-323.

Gilbert, Brett A., Audretsch, David B. and McDougall, Patricia P. (2004) “The

Emergence of Entrepreneurship Policy,” Journal of Small Business Economics,

Vol. 22, 313-323.

Covin, Jeffrey G., and Miles, M.P. (2007) “The Strategic Use of Corporate Venturing,”

Forthcoming in Entrepreneurship Theory and Practice, Vol. 31 (2).

Covin, Jeffrey G., Green, K.M., and Slevin, D.P. (2006) “Strategic Process Effects on

the Entrepreneurial Orientation-Sales Growth Rate Relationship,” Entrepreneurship

Theory and Practice, Vol. 30 (1): 57-82.

King, D.R., Covin, Jeffrey G., and Hegarty, W.H. (2003) “Complementary Resources

and the Exploitation of Technological Innovations,” Journal of Management, Vol. 29

(4): 589-606.

Miles, M.P., and Covin, Jeffrey G. (2002) “Exploring the Practice of Corporate

Venturing: Some Common Forms and Their Organizational Implications,”

Entrepreneurship Theory and Practice, Vol. 26 (3): 21-40.

Covin, Jeffrey G., Slevin, D.P., and Heeley, M.B. (2000) “Pioneers and Followers:

Competitive Tactics, Environment, and Firm Growth,” Journal of Business Venturing,

Vol. 15 (2): 175-210.

Miles, M.P., and Covin, Jeffrey G. (2000) “Environmental Marketing: A Source of

Reputational, Competitive, and Financial Advantage,” Journal of Business Ethics,

23 (3): 299-311.

nnn World Class Entrepreneurship Research Leaders 19


Covin, Jeffrey G., and Miles, M.P. (1999) “Corporate Entrepreneurship and the

Pursuit of Competitive Advantage,” Entrepreneurship Theory and Practice, Vol.

23 (3): 47-63.

Slevin, D.P., and Covin, Jeffrey G. (1997) “Time, Growth, Complexity, and Transitions:

Entrepreneurial Challenges for the Future,” Entrepreneurship Theory and Practice,

Vol. 22 (2): 53-68.

Dess, G.G., Lumpkin, G.T., and Covin, Jeffrey G. (1997) “Entrepreneurial Strategy

Making and Firm Performance: Tests of Contingency and Configurational Models,”

Strategic Management Journal, Vol. 18 (9): 677-695.

Slevin, D.P., and Covin, Jeffrey G. (1997) “Strategy Formation Patterns, Performance,

and the Significance of Context,” Journal of Management, Vol. 23 (2): 189-209.

Zahra, S.A., and Covin, Jeffrey G. (1995) “Contextual Influences on the Corporate

Entrepreneurship-Performance Relationship: A Longitudinal Analysis,” Journal of

Business Venturing, Vol. 10 (1): 43-58.

Covin, Jeffrey G., and Slevin, D.P. (1991) “A Conceptual Model of Entrepreneurship

as Firm Behavior,” Entrepreneurship Theory and Practice, Vol. 16 (1): 7-25.

Covin, Jeffrey G. (1991) “Entrepreneurial Versus Conservative Firms: A Comparison

of Strategies and Performance,” Journal of Management Studies, Vol. 28 (5): 439-

462.

Covin, Jeffrey G., Slevin, D.P., and Covin T.J. (1990) “The Content and Performance

of Growth-Seeking Strategies: A Comparison of Small Firms in High-and Low-

Technology Industries,” Journal of Business Venturing, Vol. 5 (6): 391-412.

Covin, Jeffrey G., and Covin T.J. (1990) “Competitive Aggressiveness, Environmental

Context, and Small Firm Performance,” Entrepreneurship Theory and Practice, Vol.

14 (4): 35-50.

Covin, Jeffrey G., Prescott, J.E. and Slevin, D.P. (1990) “The Effects of Technological

Sophistication on Strategic Profiles, Structure, and Firm Performance,” Journal of

Management Studies, Vol. 27 (5): 485-510.

Covin, Jeffrey G., and Slevin, D.P. (1990) “New Venture Strategic Posture, Structure,

and Performance: An Industry Life Cycle Analysis,” Journal of Business Venturing,

Vol. 5 (2): 123-135.

Slevin, D.P., and Covin, Jeffrey G. (1990) “Juggling Entrepreneurial Style and

Organization Structure... How to Get Your Act Together,” Sloan Management Review,

Vol. 31 (2): 43-53.

King, D. R., Covin, Jeffrey G., Daily, Catherine M., & Dalton, Dan R. (2004) “Meta-

Analyses of Post-Acquisition Performance: Indications of Unidentified Moderators,”

Strategic Management Journal, Vol. 25, 187-200.

Certo, S. T., Covin, Jeffrey G., Daily, Catherine M., & Dalton, Dan. R. (2001) “Wealth

and the Effects of Founder Management Among IPO-Stage New Ventures,” Strategic

Management Journal, Vol. 22, 641-658.

20 World Class Entrepreneurship Research Leaders nnn

Arthaud-Day, M., Certo, S. T., Dalton, Catherine M., & Dalton, Dan R. (2006)

“A Changing of the Guard: Executive and Director Turnover Following Corporate

Earnings Restatements,” Academy of Management Journal.

Lester, R. H., Certo, S. T., Dalton, Catherine M., Dalton, Dan R., & Cannella, A.

A., Jr. (2006) “Initial Public Offering Investor Valuations: An Examination of Top

Management Team Prestige and Environmental Uncertainty,” Journal of Small

Business Management, Vol. 44 (1): 1-26.

Johnson, J. L., Ellstrand, A. E., Dalton, Dan R., & Dalton, Catherine M. (2005)

“The Influence of the Financial Press on Stockholder Wealth: The Case of Corporate

Governance,” Strategic Management Journal, Vol. 26, 461-471.

Daily, Catherine M., Certo, S. T., & Dalton, Dan R. (2005) “Investment Bankers and

IPO Pricing: Does Prospectus Information Matter?” Journal of Business Venturing,

Vol. 20, 93-111. (Research abstracted in The Wall Street Journal, December 29, 2003: C5; IPO View, December

21, 2003 distributed on Dow Jones Reuters news services.)

Certo, S. T., Daily, Catherine M., Cannella, A. A., Jr., & Dalton, Dan R. (2003)

“Giving Money to Get Money: How CEO Stock Options and CEO Equity Enhance IPO

Valuations,” Academy of Management Journal, Vol. 46, 643-653.

Daily, Catherine M., Dalton, Dan R., & Cannella, A. A., Jr. (2003) “Corporate

Governance: Decades of Dialogue and Data,” Academy of Management Review,

Vol. 28, 371-382.

Daily, Catherine M., Dalton, Dan R., & Rajagopalan, N. (2003) “Governance Through

Ownership: Centuries of Practice, Decades of Research.” Academy of Management

Journal, Vol. 46, 151-158.

Daily, Catherine M., Certo, S. T., Dalton, Dan R., & Roengpitya, R. (2003) “IPO

Underpricing: A Meta-Analysis and Research Synthesis,” Entrepreneurship Theory

and Practice, Vol. 27 (3): 271-295. (Finalist for the McKinsey/Strategic Management Society Best

Conference Paper.)

Daily, Catherine M., McDougall, Patricia P., Covin, Jeffrey G. and Dalton, Dan R.,

(2002) “Governance and Strategic Leadership in Entrepreneurial Firms,” Journal of

Management, Vol. 28, 387-412.

Daily, Catherine M., Certo, S. T., & Dalton, Dan R. (2002) “Executive Stock Option

Repricing: Retention and Performance Reconsidered,” California Management Review,

Vol. 44 (4): 8-23. (Paper nominated by the California Management Review’s editorial board for the Accenture

Award). (Note: Research abstracted in The New York Times, July 29, 2001, Money & Business (section 3): 1;

Business Week, August 13, 2001, Economic Trends: 24; Money, October 2001: 164-165; Investor Relations,

September 2001: 9; IRRC Corporate Governance Highlights, 12 (35): 138.

Daily, Catherine M. & Dollinger, Marc J. (1993) “Alternative Methodologies For

Classifying Family Versus Non-Family Businesses,” Journal of Small Business

Management, Vol. 31, (2) 79-90.

Certo, S. T., Daily, Catherine M., & Dalton, Dan. R. (2001) “Signaling Firm Value

Through Board Structure: An Investigation of Initial Public Offerings,” Entrepreneurship

Theory and Practice, Vol. 26 (2): 33-50.

nnn World Class Entrepreneurship Research Leaders 21


Tihanyi, L., Ellstrand, A. E., Daily, Catherine M., & Dalton, Dan. R. (2000) “Composition

of the Top Management Team and Firm International Diversification,” Journal of

Management, 26, 1157-1177.

Daily, Catherine M., Certo, S. T., & Dalton, Dan. R. (2000) “International Experience

in the Executive Suite: The Path to Prosperity?” Strategic Management Journal, 21,

515-523.

Daily, Catherine M., Johnson, J. L., Ellstrand, A. E., & Dalton, Dan R. (1998)

“Compensation Committee Composition as a Determinant of CEO Compensation,”

Academy of Management Journal, 41, 209-220.

Dalton, Dan R., Daily, Catherine M., Ellstrand, A. E., & Johnson, J. L. (1998) “Board

Composition, Leadership Structure, and Financial Performance: Meta-Analytic Reviews

and Research Agenda,” Strategic Management Journal, 19, 269-290.

Dalton, Dan R., Daily, Catherine M., Certo, S. T., & Roengpitya, R. (2003) “Meta-

Analyses of Financial Performance and Equity: Fusion or Confusion?” Academy of

Management Journal, 46: 13-26. (Note: Research abstracted in USA Today, March 10, 2003, Money:

5B; The Indianapolis Star, January 20, 2003, Business: C1; The New York Times, January 12, 2003, Money &

Business (section 3): 1, 12; Executive Excess 2002: CEOs Cook the Books, Skewer the Rest of Us, Institute

for Policy Studies, August 2002: 9; International Herald Tribune, August 12, 2002: 11; The New York Times,

August 11, 2002, Money & Business (section 3): 4; Business Times, August 13, 2002: 1-3; Ninth Annual CEO

Compensation Survey, Institute for Policy Studies, 2002: 9; Newsday, August 16, 2002: 1; United States House of

Representatives, Committee on Financial Services, 2002.)

Dollinger, Marc J., Golden, P., & Saxton, Todd (1997) “The Effect of Reputation on the

Decision to Joint Venture,” Strategic Management Journal, Vol. 18 (2) 127-140.

Wimbush, J., Dollinger, Marc., Enz, C., Daily, Catherine M. & Dalton, Dan R. (1996)

“The Relationship Between Minority Business Enterprises and Corporate Purchasing

Personnel: Perceptions From Both Sides of the Table,” Journal of Business

Strategy, Vol. 13, 42-64.

Golden, P., Dollinger, Marc J. & Daily, Catherine M. (1993) “Cooperative Alliances

and Competitive Strategies in Small Manufacturing Firms,” Entrepreneurship:

Theory and Practice, Vol. 17 (4): 43-56.

Dollinger, Marc J., Golden, P. & Daily, Catherine (1992) “Interorganizational and

Collective Strategies,” Journal of Management, Vol.8 (4): 696-717.

Dollinger, Marc J. & Danis, W. (1998) “Preferred Decision-Making Styles: A Cross

Cultural Comparison,” Psychological Reports, Vol. 82, 755-761.

Dollinger, Marc J., Saxton, Todd. & Golden, P. (1995) “Intolerance of Ambiguity and

the Decision to Form an Alliance,” Psychological Reports, Vol. 77, 1197-1198.

Mitchell, Ron, Friga, Paul N. and Mitchell, Rob (2005) “Untangling the Intuition Mess:

Intuition as a Construct in Entrepreneurial Research,” Entrepreneurship, Theory and

Practice, November: 653-679.

Heeler, R. M. and Hustad, Thomas P. (1980) “Problems in Predicting New Product

Growth for Consumer Durables,” Management Science, 26: 1007-1020. (Listed as

the 8 th most frequently cited marketing article in Management Science.)

22 World Class Entrepreneurship Research Leaders nnn

Hustad,Thomas P. (1991) “Marketing’s Contribution to Innovation: The Concept of

Market-In Design,” Design Management Journal, Vol. 2, 54-60.

Hustad, Thomas P. (1996) “Reviewing Current Practices in Innovation Management

and a Summary of Selected Best Practices,” in The PDMA Handbook of New

Product Development, Wiley Publishers. (Cited in Wall Street Journal, Business Bulletin,

November 14, 1996 and also May 1, 1997; cited in Business Week, January 27, 1997; cited in USA Today,

February 24, 1997.)

Kuratko, Donald F., Ireland, R. Duane, Covin, Jeffrey G., & Hornsby, Jeffrey S.

(2005) “A Model of Middle Level Managers’ Entrepreneurial Behavior”

Entrepreneurship Theory & Practice, Vol. 29, #6, 699-716.

Kuratko, Donald F., Hornsby, Jeffrey S., and Bishop, James W. (2005)

“Managers’ Corporate Entrepreneurial Actions and Job Satisfaction,” International

Entrepreneurship and Management Journal, Vol. 1, #3, 275-291.

Kuratko, Donald F. (2005) “The Emergence of Entrepreneurship Education:

Development, Trends, and Challenges,” Entrepreneurship Theory & Practice,

Vol. 29, #5, 577-598.

Goldsby, Michael G., Kuratko, Donald F., & Bishop, James W. (2005)

Entrepreneurship & Fitness: An Examination of Rigorous Exercise and Goal

Attainment Among Small Business Owners,” Journal of Small Business

Management, Vol. 43 #1, 78- 92. (Note: This research was reported by ABC, NBC, CBS, MSNBC,

CNN, The Associated Press, United Press International, National Public Radio, The Washington Post, Men’s

Health magazine, Runner’s World magazine, Health magazine, Self magazine, Living Fit magazine, Prevention

magazine, and The Chronicle of Higher Education.)

Kuratko, Donald F. & Goldsby, Michael G. (2004) “Corporate Entrepreneurs or

Rogue Middle Managers: A Framework for Ethical Corporate Entrepreneurship,”

Journal of Business Ethics, Vol. 55, #1, 13-30.

Kuratko, Donald F., Goldsby, Michael G., & Hornsby, Jeffrey S. (2004) “The Ethical

Perspectives of Entrepreneurs: An Examination of Stakeholder Salience,” Journal of

Applied Management and Entrepreneurship, Vol. 9, #4, 19-42. (Note: Awarded the

“Paul Hersey Award for Best Journal Article of the Year” by the editorial board of the Journal of Applied

Management & Entrepreneurship.)

Hornsby, Jeffrey S., Kuratko, Donald F., & Zahra, Shaker A. (2002) “Middle

Managers’ Perception of the Internal Environment for Corporate Entrepreneurship:

Assessing a Measurement Scale,” Journal of Business Venturing, Vol. 17, #3,

253-273.

Kuratko, Donald F., Ireland, R. Duane, & Hornsby, Jeffrey S. (2001) “Improving Firm

Performance Through Entrepreneurial Actions: Acordia’s Corporate Entrepreneurship

Strategy,” Academy of Management Executive, Vol. 15, #4, 60-71. (Note Selected

“Outstanding Journal Article in Corporate Entrepreneurship” for 2001-2002 by the U.S.Association of Small

Business & Entrepreneurship.)

Zahra, Shaker A., Kuratko, Donald F., & Jennings, Daniel F. (1999) “The

Antecedents and Consequences of Firm-Level Entrepreneurship: The State of the

Field,” Entrepreneurship Theory & Practice, Vol. 24, #2, 45-65.

nnn World Class Entrepreneurship Research Leaders 23


Hornsby, Jeffrey S., Kuratko, Donald F., & Montagno, Ray V. (1999) “Perception of

Internal Factors for Corporate Entrepreneurship: A Comparison of Canadian and U.S.

Managers,” Entrepreneurship Theory & Practice, Vol. 24, #2, 9-24.

Zahra, Shaker A., Jennings, Daniel F., & Kuratko, Donald F. (1999) “Corporate

Entrepreneurship and the Acquisition of Dynamic Organizational Capabilities,”

Entrepreneurship Theory & Practice, Vol. 23, #3, 5-10.

Kuratko, Donald F., Monagno, Ray V., & Hornsby, Jeffrey S. (1990) “Developing an

Intrapreneurial Assessment Instrument for an Effective Corporate Entrepreneurial

Environment,” Strategic Management Journal, Vol. #11, 49-58.

Goldsby, Michael G., Kuratko, Donald F., Hornsby, Jeffrey S., Neck, Christopher P.,

& Houghton, Jeffery D. (2007) “Social Cognition and Corporate Entrepreneurship: A

Framework for Enhancing the Role of Middle-Level Managers,” International Journal

of Leadership Studies, forthcoming.

Ireland, R. Duane, Kuratko, Donald F., & Morris, Michael H. (2006) “A Health

Audit for Corporate Entrepreneurship: Innovation at all Levels - Part 2,” Journal of

Business Strategy, Vol. 27, #2, 21-30.

Ireland, R. Duane, Kuratko, Donald F., & Morris, Michael H. (2006) “A Health

Audit for Corporate Entrepreneurship: Innovation at all Levels - Part 1,” Journal of

Business Strategy, Vol. 27 #1, 10-17.

Kuratko, Donald F. (2006) “A Tribute to 50 Years of Excellence in Entrepreneurship &

Small Business,” Journal of Small Business Management, Vol. 44, #3, 483-492.

Finkle, Todd A., Kuratko, Donald F., & Goldsby, Michael G. (2006) “An Examination

of Entrepreneurship Centers in the United States: A National Survey,” Journal of

Small Business Management 50 th Anniversary Special Issue, Vol. 44, #2, 184-206.

Lyles, Marjorie A., Saxton, Todd & Watson, K. (2004) “Venture Survival in a

Transitional Economy,” Journal of Management, Vol. 30 (3): 351-375.

McDougall, Patricia P. and Oviatt, Benjamin M. (2005) “Defining International

Entrepreneurship and Modeling the Speed of Internationalization,” Entrepreneurship

Theory and Practice, Vol. 29 (5): 537-554.

Oviatt, Benjamin M. and Patricia P. McDougall (2005) “The Internationalization of

Entrepreneurship,” Journal of International Business Studies, Vol. 36 (1), 2-8.

(Retrospective Article awarded the 2004 Palgrave Macmillan Journal of International Business Studies Decade

Award.)

Mitchell, Ronald K., Busenitz, Lowell, Lant, Teresa, McDougall, Patricia P., Morse,

Eric A. and Smith, J. Brock (2005) “The Distinctive and Inclusive Domain of

Entrepreneurial Cognition Research,” Entrepreneurship Theory and Practice,

Vol. 28 (6): 505-518.

Powers, Joshua B. and McDougall, Patricia P. (2005) “University Start-up Formation

and Technology Licensing with Firms that Go Public: A Resource View of Academic

Entrepreneurship,” Journal of Business Venturing, Vol. 20 (3): 291-311.

24 World Class Entrepreneurship Research Leaders nnn

Shrader, Rodney C., McDougall, Patricia P., and Oviatt, Benjamin M. (2003) “Early

Internationalization of U.S. Based New Ventures: A Comparison of International and

Domestic New Ventures,” Journal of International Entrepreneurship, Vol. 1, 59-82.

Mitchell, Ronald K., Busenitz, Lowell, Lant, Teresa, McDougall, Patricia P., Morse,

Eric A. and Smith, J. Brock (2002) “Toward a Theory of Entrepreneurial Cognition:

Rethinking the People Side of Entrepreneurship Research,” Entrepreneurship

Theory and Practice, Vol. 25, 93-104.

Robinson, Kenneth C. and McDougall, Patricia P. (2001) “Entry Barriers and New

Venture Performance: A Comparison of Universal and Contingency Approaches,”

Strategic Management Journal, Vol. 22, 659-685.

Shrader, Rodney C., Oviatt, Benjamin M. and McDougall, Patricia P. (2000) “How

New Ventures Exploit Tradeoffs Among International Risk Factors: Lessons for the

Accelerated Internationalization of the 21 st Century,” Academy of Management

Journal, Vol. 43, 1227-1247.

McDougall, Patricia P. and Oviatt, Benjamin M. (2000) “International

Entrepreneurship: The Intersection of Two Research Paths,” Academy of

Management Journal, Vol. 43, 902-908.

Bamford, Charles E., Thomas J. Dean, and McDougall, Patricia P. (2000) “An

Examination of the Impact of Initial Founding Conditions and Decisions Upon the

Performance of New Bank Start-ups,” Journal of Business Venturing, Vol. 15,

253-277.

McDougall, Patricia P. and Oviatt, Benjamin M. (1996) “New Venture Internationalization,

Strategic Change, and Performance: A Follow-Up Study,” Journal of Business

Venturing, Vol. 11 (1): 23-42.

McDougall, Patricia P., Robinson Jr., Richard B. and DeNisi, Angelo S. July (1992)

“Modeling New Venture Performance: An Analysis of New Venture Strategy, Industry

Structure, and Venture Origin,” Journal of Business Venturing, Vol. 7 (4): 267-289.

Carow, K., Heron, R. & Saxton, Todd (2004) “Does the Early Bird Get the Worm?

An Empirical Investigation of Early-Mover Advantages in Acquisitions,” Strategic

Management Journal, Vol. 25, 563-585.

Saxton, Todd & Dollinger, Marc J. (2004) “Target Reputation and Appropriability:

Picking and Deploying Resources in Acquisitions,” Journal of Management, Vol. 30,

(1): 123-147.

Saxton, Todd (1997) “The Effects of Partner and Relationship Characteristics on Alliance

Outcomes,” Academy of Management Journal, Vol. 40 (2): 443-461.

Zacharakis, A., McMullen, J., and Shepherd, Dean A. (2007) “VC Decision Making

Across Three Countries: An Institutional Theory Perspective,” Journal of

International Business Studies, forthcoming.

Dimov, D., Shepherd, Dean A., and Sutcliffe, K. (2007) “Organizational Status and

Investments in Uncertain Markets: The Moderating Role of Management Team

Expertise,” Journal of Business Venturing, forthcoming.

nnn World Class Entrepreneurship Research Leaders 25


Hayward, M., Shepherd, Dean A., and Griffin, D. (2006) “Hubris Theory of

Entrepreneurship.” Management Science 52 Vol. (2): 160-172.

McMullen, J.S. and Shepherd, Dean A. (2006) “Entrepreneurial Action and the Role

of Uncertainty in the Theory of the Entrepreneur,” Academy of Management Review

Vol. 31, 132–152.

Shepherd, Dean A., and DeTienne, D. (2005) “Prior Knowledge, Potential Financial

Reward, and Opportunity Identification,” Entrepreneurship, Theory and Practice

Vol. 29 (1): 91-113.

Dimov, D. and Shepherd, Dean A. (2005) “Human Capital Theory and Venture Capital

Firms: Exploring “Home Runs” and “Strike Outs,” Journal of Business Venturing

Vol. 20 (1): 1-21.

Choi, Y.R. and Shepherd, Dean A. (2004) “Entrepreneurs’ Decisions to Exploit

Opportunities,” Journal of Management Vol. 30 (3): 377-395.

Wiklund, J. and Shepherd, Dean A. (2003) “Knowledge-Based Resources,

Entrepreneurial Orientation, and the Performance of Small and Medium Sized

Businesses,” Strategic Management Journal Vol. 24, 1307-1314.

Shepherd, Dean A. (2003) “Learning from Business Failure: Propositions about the

Grief Recovery Process for the Self-Employed,” Academy of Management Review

Vol. 28 (2): 318-329.

Shepherd, Dean A., Douglas, E.J. and Shanley, M. (2000) “New Venture Survival:

Ignorance, External Shocks and Risk Reduction Strategies,” Journal of Business

Venturing, Vol. 15 (5): 393-410.

Douglas, E. and Shepherd, Dean A. (2000) “Entrepreneurship as a Utility Maximizing

Response,” Journal of Business Venturing, Vol. 15 (3): 393-410.

Shepherd, Dean A. (1999) “Venture Capitalists’ Assessment of New Venture

Survival,” Management Science Vol. 45 (5): 621-632.

Berger, Allen N. and Udell, Gregory F. (2007) “A More Complete Conceptual

Framework for SME Finance,” Journal of Banking and Finance, forthcoming.

DeYoung, Robert, Hunter, William C. and Udell, Gregory F. (2004) “The Past,

Present and Probable Future of Community Banks,” Journal of Financial Services

Research, 85-133.

Berger, Allen N. and Udell, Gregory F. (2002) “Small Business Credit Availability and

Relationship Lending: The Importance of Bank Organizational Structure,” The

Economic Journal, F32-F53.

Berger, Allen N., Klapper, Leora F. and Udell, Gregory F. (2001) “The Ability of

Banks to Lend to Informationally Opaque Small Businesses,” Journal of Banking

and Finance, 2127-2167.

26 World Class Entrepreneurship Research Leaders nnn

Berger, Allen N. Saunders, Anthony, Scalise, Joseph, and Udell, Gregory F. (1998)

“The Effects of Bank Mergers and Acquisitions on Small Business Lending,” Journal

of Financial Economics.

Berger, Allen N. and Udell, Gregory F. (1998) “The Economics of Small Business

Finance: The Roles of Private Equity and Debt Markets in the Financial Growth Cycle,”

Journal of Banking and Finance.

Berger, Allen N. and Udell, Gregory F. (1995) “Relationship Lending and Lines of

Credit in Small Firm Finance,” Journal of Business.

Berger, Allen N. and Udell, Gregory F. (1994) “Did Risk-Based Capital Allocate

Bank Credit and Cause a ‘Credit Crunch’ in the U.S.,” Journal of Money, Credit and

Banking. (Note Reprinted in The Regulation and Supervision of Banks edited by Maximilian J.B. Hall, Edward

Elgar, 2000.)

Berger, Allen N. and Udell, Gregory F. (1992) “Some Evidence on the Empirical

Significance of Credit Rationing,” Journal of Political Economy. (Note: Reprinted in New

Theories of Market Failure: A Critical Examination, Chicago: The University of Chicago Press, 2003.)

Berger, Allen N. and Udell, Gregory F. (1990) “Collateral, Loan Quality, and Bank Risk,”

Journal of Monetary Economics.

Berger, Allen N. and Udell, Gregory F. (1998) “The Economics of Small Business

Finance,” a special issue of the Journal of Banking and Finance.

nnn World Class Entrepreneurship Research Leaders 27


High Impact Books

in Entrepreneurship

by faculty from the Kelley School of Business at Indiana University

Audretsch, David B., The Entrepreneurial Society (Oxford University Press, 2007.)

Audretsch, David B., Max Keilbach and Erik Lehmann, Entrepreneurship and Economic

Growth (New York: Oxford University Press, 2006.)

Audretsch, David B., Innovation and Industry Evolution (Cambridge: MIT Press, 1995.)

Acs, Zoltan J. and David B. Audretsch, Innovation and Small Firms (Cambridge: MIT Press,

1990.)

Audretsch, David B., and Welfens, Paul J., The New Economy and Economic Growth in

Europe and the US (Springer Publishers, 2002.)

Audretsch, David B., (Ed.) SMEs in the Age of Globalization, (Edward Elgar Publishing,

2003.)

Audretsch, David B., and Acs, Zolton, (Eds.) Handbook of Entrepreneurship Research,

Vol. 1 (Kluwer Academic Publishers, 2003.)

Audretsch, David B., and Acs, Zolton, (Eds.) Small Firms and Entrepreneurship: An

East-West Perspective (Cambridge University Press, 1993.)

Dollinger, Marc J. Entrepreneurship: Strategies and Resources. 4 th ed. (Marsh

Publications, 2007.)

Dollinger, Marc J., Entrepreneurship: Strategy & Resources, 3 rd ed. (New Jersey:

Prentice Hall, 2003.)

Apple, L.E. and Hustad, Thomas P. (Eds.), Product Development: Prospering in a Rapidly

Changing World (Product Development & Management Association, 1990.)

Hustad, Thomas P., Moore, W.L., and Shocker, A.D. (Eds.), Business Success Through New

Product Success (Product Development & Management Association, 1991.)

Feldman, L. P., Hustad, Thomas P., and Page, A. L. (Eds.), Managing Product Development:

Winning in the 90s, (Product Development & Management Association, 1992.)

Kuratko, Donald F. & Hodgetts, Richard M., Entrepreneurship: Theory, Process, Practice,

7 th ed. (South-Western/Thomson Publishers, 860 pages, 2007; previous editions: 2004, 2001,

1998, 1995, 1992, 1989.) (Note: Received 6 Star Rating on AMAZON.COM for excellence; adopted at over 350 major

universities and considered one of the leading textbooks in the world for entrepreneurship.)

Morris, Michael H. & Kuratko, Donald F., Corporate Entrepreneurship (South-Western/

Thomson Publishers, 400 pages, 2002.)

Morris, Michael H., Kuratko, Donald F., & Covin, Jeffrey G., Corporate Entrepreneurship &

Innovation (South-Western/Thomson Publishers, 2007.) (Note: Groundbreaking book that is considered the

best book for MBA courses in Corporate Entrepreneurship.)

Hodgetts, Richard M. & Kuratko, Donald F., Effective Small Business Management, 7 th ed.

(Wiley & Sons Publishers, 670 pages, 2001; previous editions: 1998, 1995, 1992, 1989, 1986.)

Kuratko, Donald F. & Welsch, Harold W., Strategic Entrepreneurial Growth, 2 nd ed.

(South-Western Thomson Publishers, 487 pages, 2004; previous edition, 2001.)

nnn World Class Entrepreneurship Research Leaders 29


Hornsby, Jeffrey S. & Kuratko, Donald F., The Human Resource Function in Emerging

Enterprises (South-Western/Thomson Publishers, 365 pages, 2002.)

Kuratko, Donald F. & Welsch, Harold W., Entrepreneurial Strategy (Harcourt Brace, Inc., 580

pages, 1994.)

Kuratko, Donald F. & Hornsby, Jeffrey S., New Venture Management: A Frontline Perspective,

(Prentice Hall Publishers, 400 pages, 2007.)

Hornsby, Jeffrey S. & Kuratko, Donald F., Frontline HR: A Handbook for the Emerging Manager

(South-Western/Thomson Publishers, 330 pages, 2005.)

Kuratko, Donald F. & McDonald, Robert C., The Entrepreneurial Planning Guide

(JCEI Publications, 2007.)

Shepherd, Dean A. and Katz, J., (Eds.) Advances in Entrepreneurship, Firm Emergence and

Growth, Volume 9. (Greenwich, CT: JAI Press Issue on Showcasing European Research

on Entrepreneurship, 2006.)

Shepherd, Dean A. and Wiklund, J., Entrepreneurial Small Businesses. (Edward Elgar

Publishing Co., 2006.)

Shepherd, Dean A. and Katz, J., (Eds.) Advances in Entrepreneurship, Firm Emergence and

Growth, Volume 8. (Greenwich, CT: JAI Press. Issue on International Entrepreneurship, 2005.)

Shepherd, Dean A. and Katz, J., (Eds.) Advances in Entrepreneurship, Firm Emergence

and Growth, Volume 7. (Greenwich, CT: JAI Press. Issue on Corporate Entrepreneurship, 2004.)

Katz, J. and Shepherd, Dean A. (Eds.) Advances in Entrepreneurship, Firm Emergence and

Growth, Volume 6. (Greenwich, CT: JAI Press. Issue on Entrepreneurial Cognition and Information

Processing, 2003.)

Shepherd, Dean A. and Douglas, E., Attracting Equity Investors: Positioning, Preparing

and Presenting the Business Plan. (The Sage Series on Entrepreneurship and the

Management of Enterprises, 1999.)

Shepherd, Dean A. and Shanley, M. New Venture Strategy: Timing, Environmental

Uncertainty and Performance. (The Sage Series in Entrepreneurship and the Management of

Enterprises, 1998.)

Hisrich, Robert , Peters, Michael, and Shepherd, Dean A. Entrepreneurship: Starting,

Developing, and Managing a New Enterprise. 7 th ed. (New York: McGraw-Hill Irwin, 590

pages, 2007.)

Udell, Gregory F. (2004) Asset-Based Finance, (New York: Commercial Finance Association.)

Ritter, Lawrence S., Silber, William and Udell, Gregory F. (2004) Principles of Money,

Banking and Financial Markets 11th Ed., (New York: Addison Wesley Longman.)

Bakker, Marie H.R, Klapper, Leora and Udell, Gregory F. (2004) “Financing Small and

Medium-size Enterprises with Factoring: Global Growth in Factoring and Its Potential in Eastern

Europe” (World Bank Monograph.)

30 World Class Entrepreneurship Research Leaders nnn

Photography: Tyagan Miller, Ric Cradick, Kendall Reeves, Kirkwood Photo, Ann Schertz. Graphic Designer: Jenny El-Shamy. 08/06


For more information about

the Johnson Center for Entrepreneurship & Innovation,

contact us at:

The Johnson Center for Entrepreneurship and Innovation

The Godfrey Graduate & Executive Education Center

1275 East Tenth Street, Suite 2050

Bloomington, Indiana 47401-1703

812.855.4248

www.kelley.indiana.edu/jcei

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