IMD business school for management and leadership courses

The six disciplines of strategic thinking by Michael D Watkins
Book Strategy Leadership
The Six Disciplines of Strategic Thinking
Latest awards & honors
More awards & honors
Article
The art of asking smarter questions

With organizations of all sorts facing increased urgency and unpredictability, being able to ask smart questions has become key. But unlike lawyers, doctors, and psychologists, business professionals are not formally trained on what kinds of questions to ask when approaching a problem. They must learn as they go. In their research and consulting…

Decision Making Disruption Change Management Global Business Strategy
Recognized in HBR’s top five most read articles of 2024
By Arnaud Chevallier, Frédéric Dalsace and Jean-Louis Barsoux
in Harvard Business Review
May-June 2024, vol. 102, issue 3, pp. 66-74
The art of asking smarter questions
By Arnaud Chevallier Frédéric Dalsace and Jean-Louis Barsoux
in Harvard Business Review May-June 2024, vol. 102, issue 3, pp. 66-74
Summary
With organizations of all sorts facing increased urgency and unpredictability, being able to ask smart questions has become key. But unlike lawyers, doctors, and psychologists, business professionals are not formally trained on what kinds of questions to ask when approaching a problem. They must learn as they go. In their research and consulting…
Recognized in HBR’s top five most read articles of 2024
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Examining heterogeneous configurations of socioemotional wealth in family firms through the formalization of corporate social responsibility strategy

Family firms purportedly use different socioemotional wealth (SEW) reference points in choosing strategies, yet empirical research continues to use family involvement as a proxy for SEW. This study uses a configurational approach to examine how the multidimensionality of SEW may be used to explain the firm’s chosen strategy. We use psychometric …

Family Business
2024 Family Business Revew Best Article Award – Honorable Mention
By Josh Wei-Jun Hsueh, Alfredo De Massis and Luis R. Gomez-Mejia
in Family Business Review
June 2023, vol. 36, no. 2, pp. 172-198, https://doi.org/10.1177/08944865221146350
Examining heterogeneous configurations of socioemotional wealth in family firms through the formalization of corporate social responsibility strategy
By Josh Wei-Jun Hsueh Alfredo De Massis and Luis R. Gomez-Mejia
in Family Business Review June 2023, vol. 36, no. 2, pp. 172-198, https://doi.org/10.1177/08944865221146350
Summary
Family firms purportedly use different socioemotional wealth (SEW) reference points in choosing strategies, yet empirical research continues to use family involvement as a proxy for SEW. This study uses a configurational approach to examine how the multidimensionality of SEW may be used to explain the firm’s chosen strategy. We use psychometric …
2024 Family Business Revew Best Article Award – Honorable Mention
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Case Study
National Payments Corporation of India: Cutting-edge Fintech ecosystem innovation in India

In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold sta…

Finance Economics
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
By Marleen Dieleman, Ishtiaq Pasha Mahmood and Sadat Reza
© 2024
National Payments Corporation of India: Cutting-edge Fintech ecosystem innovation in India
By Marleen Dieleman Ishtiaq Pasha Mahmood and Sadat Reza
©2024
Summary
In recent years, India had experienced a digital revolution, emerging as a forerunner in cashless payments and, in the process, dramatically raising the level of financial inclusion in the country. The National Payments Corporation of India (NPCI), established in 2008 with the mandate to improve national payment systems, became a global gold sta…
2023-2024 Ivey Publishing Best Seller Award (11th among 25 expert cases)
Copyright ©2024
Copyright owner External Copyright
Organization National Payments Corporation of India
Industry Finance and Insurance, Financial Services
Available Languages English
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Academic publications
More academic publications
Article
Impact orientation and venture capital financing: The interplay of governmental, social impact and traditional venture capital

In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commercial operations. Using a sample of 15,510 VC-backed start-ups, we show that impact-oriented ventures…

Finance Venture Capital Social Innovation
By Valentina Lo Mele, Anita Quas, Patrick Reichert and Stefano Romito
in Finance Research Letters
October 2024, vol. 68, 105987, https://doi.org/10.1016/j.frl.2024.105987
Impact orientation and venture capital financing: The interplay of governmental, social impact and traditional venture capital
By Valentina Lo Mele Anita Quas Patrick Reichert and Stefano Romito
in Finance Research Letters October 2024, vol. 68, 105987, https://doi.org/10.1016/j.frl.2024.105987
Summary
In addition to traditional venture capital (VC), governmental VC and social impact VC investors have emerged as alternatives to fund entrepreneurial ventures, especially start-ups that incorporate social and/or environmental objectives into commercial operations. Using a sample of 15,510 VC-backed start-ups, we show that impact-oriented ventures…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Family businesses and strategic change: The role of family ownership

In this study, we analyze how the performance-aspiration gap influences strategic change in family firms, providing evidence of the moderating role of family ownership in this relationship. According to socioemotional wealth (SEW) theory, family owners pursue non-financial as well as financial goals, are more risk-averse due to their personal we…

Family Business Strategy
By Nina Schweiger, Kurt Matzler, Julia Hautz and Alfredo De Massis
in Review of Managerial Science
October 2024, vol. 18, pp. 2981-3005 https://doi.org/10.1007/s11846-023-00703-3
Family businesses and strategic change: The role of family ownership
By Nina Schweiger Kurt Matzler Julia Hautz and Alfredo De Massis
in Review of Managerial Science October 2024, vol. 18, pp. 2981-3005 https://doi.org/10.1007/s11846-023-00703-3
Summary
In this study, we analyze how the performance-aspiration gap influences strategic change in family firms, providing evidence of the moderating role of family ownership in this relationship. According to socioemotional wealth (SEW) theory, family owners pursue non-financial as well as financial goals, are more risk-averse due to their personal we…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Carbon risk and equity prices

We study the effects of carbon transition risk on equity prices in the United States and Europe using disclosed carbon intensity data and find a negative effect on the cross section of returns and a negative carbon premium for the period 2009–2019. Examining fund flows, we find that institutional investors had an aversion to carbon-intensive sto…

Finance Sustainability
By Arthur Enders, Thomas S. Lontzek, Karl Schmedders and Marco Thalhammer
in The Financial Review
16 September 2024, ePub before print, https://doi.org/10.1111/fire.12414
Carbon risk and equity prices
By Arthur Enders Thomas S. Lontzek Karl Schmedders and Marco Thalhammer
in The Financial Review 16 September 2024, ePub before print, https://doi.org/10.1111/fire.12414
Summary
We study the effects of carbon transition risk on equity prices in the United States and Europe using disclosed carbon intensity data and find a negative effect on the cross section of returns and a negative carbon premium for the period 2009–2019. Examining fund flows, we find that institutional investors had an aversion to carbon-intensive sto…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
More risk-averse or more innovative? The effect of women board membership and aspirations on patent activity

Do women directors make firms more risk-averse or more innovative? We examine this question by predicting and showing that the effect of increasing women directors on the board on firm innovation output depends on the firm’s performance relative to aspirations (PRA). Research based on the Behavioral Theory of the Firm (BTOF) has shown that the b…

Board Diversity and Equity and Inclusion
By Stephen Smulowitz, Malgorzata Smulowitz and Didier Cossin
in Research Policy
10 September 2024, ePub before print, https://doi.org/10.1016/j.respol.2024.105109
More risk-averse or more innovative? The effect of women board membership and aspirations on patent activity
By Stephen Smulowitz Malgorzata Smulowitz and Didier Cossin
in Research Policy 10 September 2024, ePub before print, https://doi.org/10.1016/j.respol.2024.105109
Summary
Do women directors make firms more risk-averse or more innovative? We examine this question by predicting and showing that the effect of increasing women directors on the board on firm innovation output depends on the firm’s performance relative to aspirations (PRA). Research based on the Behavioral Theory of the Firm (BTOF) has shown that the b…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Analyzing swings in Bitcoin returns: A comparative study of the LPPL and sentiment-informed random forest models

Forecasting Bitcoin’s returns continues to be a challenging endeavor for both scholars and practitioners. In this paper, we train a random forest model on a variety of features, with the aim of predicting pronounced changes in the returns of Bitcoin. The model that we present in this paper outperforms the baseline model with which we compare it:…

Finance
By José Parra Moyano, Daniel Partida, Moritz Gessl and Somnath Mazumdar
in Digital Finance
September 2024, vol. 6, pp. 427–439, https://doi.org/10.1007/s42521-024-00110-7
Analyzing swings in Bitcoin returns: A comparative study of the LPPL and sentiment-informed random forest models
By José Parra Moyano Daniel Partida Moritz Gessl and Somnath Mazumdar
in Digital Finance September 2024, vol. 6, pp. 427–439, https://doi.org/10.1007/s42521-024-00110-7
Summary
Forecasting Bitcoin’s returns continues to be a challenging endeavor for both scholars and practitioners. In this paper, we train a random forest model on a variety of features, with the aim of predicting pronounced changes in the returns of Bitcoin. The model that we present in this paper outperforms the baseline model with which we compare it:…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Multiple-principal demands and CEO compliance in emerging market state-owned enterprises

This study addresses multiple-principal–agent power dynamics in state-owned enterprises (SOEs) in emerging markets. We investigate under what conditions agents (CEOs) accede to demands of government-linked principals. Our qualitative study in Indonesia advances agency theory by disaggregating and categorizing government-linked principals. We als…

Emerging Market Corporate Governance
By Indri Dwi Apriliyanti, Marleen Dieleman and Trond Randøy
in Journal of Management Studies
September 2024, vol. 61, no. 6, pp. 2406-2436, https://doi.org/10.1111/joms.12977
Multiple-principal demands and CEO compliance in emerging market state-owned enterprises
By Indri Dwi Apriliyanti Marleen Dieleman and Trond Randøy
in Journal of Management Studies September 2024, vol. 61, no. 6, pp. 2406-2436, https://doi.org/10.1111/joms.12977
Summary
This study addresses multiple-principal–agent power dynamics in state-owned enterprises (SOEs) in emerging markets. We investigate under what conditions agents (CEOs) accede to demands of government-linked principals. Our qualitative study in Indonesia advances agency theory by disaggregating and categorizing government-linked principals. We als…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Case studies
More case studies
Knowledge Hub – I by IMD
See more
Insights for practitioners
See more
Article
¿Dónde se queda corta la estrategia industrial de Mario Draghi para Europa?

The call by the former Italian prime minister and ECB president for massive investment in the EU is a wake-up call to Europe’s economic stagnation. But can the continent afford the trade-offs it is overlooking?

Global Business Finance Strategy
By Arturo Bris
in Expansión
30 September 2024
¿Dónde se queda corta la estrategia industrial de Mario Draghi para Europa?
By Arturo Bris
in Expansión 30 September 2024
Summary
The call by the former Italian prime minister and ECB president for massive investment in the EU is a wake-up call to Europe’s economic stagnation. But can the continent afford the trade-offs it is overlooking?
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
«Founder mode»: che cos’è, perché può spaccare la Silicon Valley (e segnare la fine dell’era del management)

September 2024 marks a turning point in the world of corporate management. Paul Graham, a prominent figure in Silicon Valley and founder of Y Combinator, the most renowned global innovation incubator, recently published an essay on founder mode , presenting it as an alternative to the traditional corporate management model. The origin of this re…

Family Business Leadership Innovation Disruption
By Alfredo De Massis and Paolo Lacchè
in Corriere della Sera
30 September 2024
«Founder mode»: che cos’è, perché può spaccare la Silicon Valley (e segnare la fine dell’era del management)
By Alfredo De Massis and Paolo Lacchè
in Corriere della Sera 30 September 2024
Summary
September 2024 marks a turning point in the world of corporate management. Paul Graham, a prominent figure in Silicon Valley and founder of Y Combinator, the most renowned global innovation incubator, recently published an essay on founder mode , presenting it as an alternative to the traditional corporate management model. The origin of this re…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Data collectives are the next frontier of labor relations

The AI boom — and the growth of gen AI in particular — has introduced new points of conflict between employees and companies. Some of these have already started to play out, such as in the Writers Guild of America strike over how AI can and can’t be used in the entertainment industry. But others are still on the horizon. As AI becomes more integ…

Artificial Intelligence Data Analytics Technology Management Team Dynamics
By Amit M. Joshi and José Parra Moyano
in HBR.org
27 September 2024
Data collectives are the next frontier of labor relations
By Amit M. Joshi and José Parra Moyano
in HBR.org 27 September 2024
Summary
The AI boom — and the growth of gen AI in particular — has introduced new points of conflict between employees and companies. Some of these have already started to play out, such as in the Writers Guild of America strike over how AI can and can’t be used in the entertainment industry. But others are still on the horizon. As AI becomes more integ…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
AI is working its way into smartphones, but some tools could be subverted for misinformation

Artificial intelligence (AI) has already transformed how we work and communicate. Now, it’s making its way into our pockets. Apple launched its iPhone 16 on September 9 2024 and Google revealed its Pixel 9 smartphones on August 13. Both are bold examples of how AI is being fused with consumer devices. As AI moves from the cloud into our hands, t…

Artificial Intelligence Technology Management Disruption Organizational Learning
By José Parra Moyano
in The Conversation
18 September 2024
AI is working its way into smartphones, but some tools could be subverted for misinformation
By José Parra Moyano
in The Conversation 18 September 2024
Summary
Artificial intelligence (AI) has already transformed how we work and communicate. Now, it’s making its way into our pockets. Apple launched its iPhone 16 on September 9 2024 and Google revealed its Pixel 9 smartphones on August 13. Both are bold examples of how AI is being fused with consumer devices. As AI moves from the cloud into our hands, t…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Book
The future-ready leader: Accelerated learning for business success

If you’re a business leader looking to stay ahead of the curve, this book is an essential guide. It offers a comprehensive overview of the major trends shaping the future of business, drawing on reviews of 70 recent management books and interviews with 21 senior leaders. What sets this book apart is that it’s grounded in the real-world experienc…

Leadership Disruption Change Management Strategy
By Peter Lorange and Karin Mugnaini
Published by Springer, © 2023
The future-ready leader: Accelerated learning for business success
By Peter Lorange and Karin Mugnaini
Published by Springer ©2023
Summary
If you’re a business leader looking to stay ahead of the curve, this book is an essential guide. It offers a comprehensive overview of the major trends shaping the future of business, drawing on reviews of 70 recent management books and interviews with 21 senior leaders. What sets this book apart is that it’s grounded in the real-world experienc…
Copyright ©2023
Copyright owner External Copyright
Available Languages English
Contact

Research Information & Knowledge Hub for additional information on IMD publications