Indiana University Kelley School Of Business World Class Entrepreneurship Research Leaders

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World Class
Entrepreneurship Research Leaders
indiana university
kelley school of business n n n n n
World Class
Entrepreneurship Research Leaders
indiana university
kelley school of business n n n n n
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
(Gilclear sheet lays over this photo)
“The mind, once stretched by a compelling idea, will never again return to its original shape.”
-wi lli am 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 entre-
preneurship, among many others. Our faculty has also published over 20 books in the area of
entrepreneurship and in so doing, has signi?cantly 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 sub-
scribes 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 dis-
seminate the results not only in top academic journals, but also in in?uential “trade-oriented”
publications. We ?rmly 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
nnn World Class Entrepreneurship Research Leaders 1
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 ?nest 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 re-
search productivity of the Kelley School of Business faculty dedicated to en-
trepreneurship 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 ?eld 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 entre-
preneurship throughout the world.
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 ?eld.
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 ?eld.
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 ?nest researchers
in the entrepreneurship ?eld. 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 ?eld 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.
nnn World Class Entrepreneurship Research Leaders 3
World Class Entrepreneurship
Research Initiatives
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 Of?ce 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, in-
cluding: Entrepreneurship and Economic Growth, with Oxford University Press, 2006, and The Entre-
preneurial 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.
nnn World Class Entrepreneurship Research Leaders 5
World Class Research Faculty
in Entrepreneurship
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 ?elds of entrepreneurship, strategic man-
agement, 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 recog-
nized 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 identi?ed 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 Entrepreneur-
ship & 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 Entrepre-
neurship 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 ?eld. 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 ar-
ticle 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 Acad-
emy of Management.
nnn World Class Entrepreneurship Research Leaders 7
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 ven-
ture 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-?ve 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 identi?ed as the third most published
author in entrepreneurship.
Dr. McDougall has been credited as one of the pioneers in the ?eld of international entrepre-
neurship. 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 ?rms to also include entrepreneurial ?rms. Together their research on new
venture ?rms which internationalized soon after inception challenged traditional theories of
internationalization and pierced the then-held belief that internationalization was the preserve
of established ?rms.
Dr. McDougall and Dr. Oviatt are the ?rst entrepreneurship scholars to ever receive the presti-
gious 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 inter-
national 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 signi?cant 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.
6 World Class Entrepreneurship Research Leaders nnn
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 ?eld of entrepreneurship. Given that there is a general tendency in
today’s business environment for the shortening of product and business model lifecycles, future
pro?t 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
pro?tability 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 speci?c areas: (1) Entrepreneurial Opportunity. Dr. Shepherd’s work focuses on the
role of individuals’ knowledge and motivation in the acknowledgement and exploitation of op-
portunities. 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 re-
search. (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 ?rms for
success, especially considering the role of knowledge, motivation, and how entrepreneurs choose
to position their ?rms 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 ?rm failure should be avoided and acknowledgement that project failure within a ?rm
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 mini-
mizes 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 Entrepre-
neurship Theory & Practice).
nnn World Class Entrepreneurship Research Leaders 9
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 ?eld of entrepreneurship. He has published over 150 articles on aspects of entrepre-
neurship, 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 Entrepreneur-
ship (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 Entrepreneur-
ship (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 Busi-
ness 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.
8 World Class Entrepreneurship Research Leaders nnn
nnn World Class Entrepreneurship Research Leaders 11
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 Profes-
sorship 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 ?ve 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 consult-
ing entrepreneurship and small business issues. His most current work examines the in?uence
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 ?rst
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 ?rms. 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 ?rms
in the retail music business. He also conducts workshops for executives, most recently for the
Asian Paci?c Management Development Consortium, ALCOA-CSI and Otis Elevator, North
American Operations.
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 Busi-
ness, Indiana University. He received his undergraduate degree in economics from DePauw
University and both his MBA and his Ph.D. degrees in ?nance 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 As-
sociation, 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 of?cer 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 ?nancial contracting, credit availability and ?nancial inter-
mediation 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 ?nance; 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 ?nancial constraints
faced by small and mid-sized (SMEs) enterprises in different countries. His current working
papers include studies of SME ?nancing and banking relationships in Spain, Japan, and Korea.
10 World Class Entrepreneurship Research Leaders nnn
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 compo-
sition, board leadership structure, executive and director compensation, and ?rms’ ownership
structures. Her research spans all types of organizations, including entrepreneurial ?rms, small
businesses, large public corporations, and private organizations. She is considered one of the
premier scholars in the ?elds 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 gradu-
ate 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.
nnn World Class Entrepreneurship Research Leaders 13 12 World Class Entrepreneurship Research Leaders nnn
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 Acad-
emy of Management and an inaugural member of its Hall of Fame. Professor Dalton is respect-
ed as a premier scholar in the ?elds 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 Manage-
ment 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 ?nancial 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 La-
bor, Department of the Navy, Farm Bureau Insurance, Federal Express, General Motors, Hart-
ford 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 Busi-
ness stands as a tribute the tremendous leadership of Dr. Dan Dalton.
nnn World Class Entrepreneurship Research Leaders 15
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 Uni-
versity in Bloomington, Indiana, where he teaches courses in strategy and management consult-
ing. 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 deci-
sion-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 educa-
tion, management consulting, not-for-pro?t, and public utilities. Recent clients include Boeing,
Boston Scienti?c, J.D. Power & Associates, Kimball Of?ce Furniture, Microsoft, Price Water-
house Coopers, Scienti?c Atlanta, and The Greater Indianapolis Hospitality & Lodging Asso-
ciation. 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.
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 ?rst monograph and
becoming its fourth president in 1981. In that position, he worked three years to create the Jour-
nal of Product Innovation Management, which he later edited for over ?fteen years. JPIM is the world’s
leading journal in the ?eld of innovation management, based on citation impact as measured
by both the Science and Social Science Citation Indexes. Today, PDMA’s annual conference at-
tracts 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 pa-
pers 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 ?ve books includ-
ing the PDMA Handbook of New Product Development (Wiley – both ?rst and second editions), Life
Style and Psychographics, Problems in Canadian Marketing, and Advertising Management: Practical Perspectives.
His doctoral dissertation won a ?rst 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 publica-
tion in Management Science. It deals with issues surrounding challenges in forecasting sales of new
products.
He has received ?fteen teaching awards from his graduate students during his two decades at IU,
was the ?rst recipient of the Eli Lilly Alumni Teaching Excellence Award and was identi?ed 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 To-
day, 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.
14 World Class Entrepreneurship Research Leaders nnn
nnn World Class Entrepreneurship Research Leaders 17
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
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 ?rms 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, pri-
marily 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 com-
petition. 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 ?ndings 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
?edgling 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
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
High Impact Journal
Publications in Entrepreneurship
by faculty from the Kelley School of Business at Indiana University
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 Infuence 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
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 Confgurational Models,”
Strategic Management Journal, Vol. 18 (9): 677-695.
Slevin, D.P., and Covin, Jeffrey G. (1997) “Strategy Formation Patterns, Performance,
and the Signifcance of Context,” Journal of Management, Vol. 23 (2): 189-209.
Zahra, S.A., and Covin, Jeffrey G. (1995) “Contextual Infuences 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 Profles, 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 Unidentifed 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
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
Tihanyi, L., Ellstrand, A. E., Daily, Catherine M., & Dalton, Dan. R. (2000) “Composition
of the Top Management Team and Firm International Diversifcation,” 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
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
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) “Defning 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
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
Signifcance 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
Hayward, M., Shepherd, Dean A., and Griffn, 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 Identifcation,” 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

nnn World Class Entrepreneurship Research Leaders 29
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.)
High Impact Books
in Entrepreneurship
by faculty from the Kelley School of Business at Indiana University
30 World Class Entrepreneurship Research Leaders nnn
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.)
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World Class
Entrepreneurship Research Leaders
indiana university
kelley school of business n n n n n
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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kelley school of business n n n n n

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