The Institute of Strategy and Venturing enjoys an international reputation for research and teaching excellence in its core areas, a reputation that is further enhanced by strong links with globally leading business and engineering schools. These strengths are leveraged for the benefit of its students, so as to provide them with a truly transformative learning experience.
The overriding objective of the Institute is to transform the careers of its students by providing them with the skills, competencies, and contacts required to excel in creating and transforming technology-based business in the globalizing business world. To meet our objective, we continuously strive to surpass its standards of research and teaching excellence. By continuously benchmarking our performance against globally leading programs and institutes in its area, we aspire to instill a spirit of excellence in our students, and thus help them reach their full potential.
The teaching activity is supported by world-class research on strategy and venturing. The internationally recognized, award-winning publication activity of our faculty ensures that the knowledge base is continuously refreshed and upgraded with cutting-edge knowledge generated in close co-operation with other leading academics as well as industry and consulting practitioners.
The Institute is lead by Professor Markku Maula
| Schildt, H., Lahdenranta, K., Demir, R. & Turunen, T. 2023. Waking up to digital innovation: how organisational secrecy hampers top management focus on strategic renewal Forthcoming in: Innovation: Organization and Management |
| Maula, M.V.J., Heimeriks K., & Keil, T. 2022. Organizational experience and performance: A systematic review and contingency framework. Forthcoming in Academy of Management Annals. |
| Cepa, K., & Schildt, H. 2022. What to teach when we teach digital strategy? An exploration of the nascent field. Forthcoming in Long Range Planning. |
| Foss, N., Schmidt, J., Teece, D. 2023. Ecosystem leadership as a dynamic capability. Long Range Planning 56(1), February 2023, 102270 |
| Lukkarinen, A. & Schwienbacher, A. 2023. Secondary market listings in equity crowdfunding: The missing link? Forthcoming in Research Policy 52(1), 104648. |
| Kodeih, F., Schildt, H., & Lawrence, T. B. 2023. Countering Indeterminate Temporariness: Sheltering work in refugee camps. Organization Studies 44(2):175-199 |
| Dimov, D., Maula, M. V. J., & Romme, A. G. L. 2022. Crafting and Assessing Design Science Research for Entrepreneurship. Forthcoming in Entrepreneurship Theory & Practice. |
| Bahoo-Torodi, A. & Torrisi, S. 2022 When do spinouts benefit from market overlap with parent firms? Forthcoming in Journal of Business Venturing, 37(6):1-17 |
| Burkhard, B., Sirén, C., van Essen, M., Grichnik, D., & Shepherd, D. A. 2022 Nothing ventured, nothing gained: A meta-analysis of CEO overconfidence, strategic risk taking, and performance. Forthcoming in Journal of Management. |
| Keil, T., Deutsch, Y., Laamanen, T., & Maula, M. V. J. 2023. Temporal dynamics in acquisition behavior: The effects of activity load on strategic momentum. Journal of Management Studies 60(1): 38-81. |
| Jeon, E. & Maula, M.V.J. 2022. Progress Toward Understanding the Tensions in Corporate Venture Capital: A Systematic Review. Journal of Business Venturing, 37(4):106226. |
| Maula, M.V.J. & Lukkarinen, A. 2022. Attention Across Borders: Investor Attention as a Driver of Cross-Border Equity Crowdfunding Investments. Strategic Entrepreneurship Journal 16 (4): 699-734 |
| Ehrig, T., & Schmidt, J. 2022. Theory-based learning and experimentation: How strategists can systematically generate knowledge at the edge between the known and the unknown. Strategic Management Journal, 43(7):1287-1318 |
| Kakarika, M., Biniari, M., Guillén, L., Mayo, M. 2022. Where does the heart lie? A multistage process model of entrepreneurial passion and role identity management. Journal of Organizational Behavior 43(9):1562-1578 |
| Schöbel, M., Silla, I., Teperi, A. M., Gustafsson, R., Piirto, A., Rollenhagen, C., & Wahlström, B. 2022. Human and organizational factors in European nuclear safety: A fifty-year perspective on insights, implementations, and ways forward. Energy Research & Social Science, 85, 102378. |
| Tuomala, E., Danivska, V., Gustafsson, R. 2022, Is a new office a blessing in disguise? The strategic importance of relocation. Facilities, 40(1-2): 118-130 |
| Vuori T.O. & Huy Q.N. 2022 Regulating Top Managers’ Emotions during Strategy Making: Nokia’s Socially Distributed Approach Enabling Radical Change from Mobile Phones to Networks in 2007-2013. Academy of Management Journal, 65(1): 331-361 |
| Luoma, Jukka; Laamanen, Tomi; Lamberg, Juha-Antti. 2022 Toward a routine-based view of interfirm rivalry. Strategic Organization, 20(2) |
| Cheung, Z, Gustafsson, R., & Nyqvist, R. 2022. Peer interaction and pioneering organizational form adoption: A tale of the first two for-profit stock exchanges. Organization Studies 43(8):1223-1246 |
| Cepa, K. &Schildt, H. 2021 Data-induced Rationality and Unitary Spaces in Interfirm Collaboration. Forthcoming in Organization Science |
| Vicente, R., Gustafson, R., Martinez-Fuentes, C. 2021. Opening Up Science for a Sustainable World: An Expansive Normative Structure of Open Science in the Digital Era. Science and Public Policy 48(6):799-813 |
| Zhang, Y. & Biniari, M. G., 2021 Forging a collective entrepreneurial identity within existing organizations through corporate venturing. International Journal of Entrepreneurial Behavior & Research, 27(6):1502-1525 |
| Jaribion, A., Khajavi, S., Järvihaavisto, U., Nurmi , I., Gustafsson, R. & Holmström, J. 2021 Crowdsourcing Properties and Mechanisms of Mega Hackathons: The Case of Junction. Forthcoming in IEEE Transactions on Engineering Management. |
| Liu, Y., & Maula, M.V.J. 2021. Contextual status effects: The performance effects of host-country network status and regulatory institutions in cross-border venture capital. Research Policy 50(5): 104216 |
| Sihvonen, A., Luoma, J., & Falk, T. 2021 How customer knowledge affects exploration: Generating, guiding, and gatekeeping. Industrial Marketing Management 94 (April 2021): 90-105 |
| Pöyry, E., Parvinen, P., & Martens, J. 2021 Effectiveness of value calculators in B2B sales work – Challenges at the sales-call level. Journal of Business Research,126 (March 2021):350-360 |
| Pollack, J. M., Maula, M., Allison, T. H., Renko, M., & Guenther, C. C. 2021 Making a contribution to entrepreneurship research by studying crowd-funded entrepreneurial opportunities. Entrepreneurship Theory and Practice 45(2):247-262. |
| Luoma, J & Martela, F. 2021 A Dual-Processing View of Three Cognitive Strategies in Strategic Decision Making: Intuition, Analytic Reasoning, and Reframing. Long Range Planning, 54(3) June 2021, 102065 |
| Aguilera, R. V., Duran, P., Heugens, P. P. M. A. R., Sauerwald, S., Turturea, R. & Van Essen, M. State ownership, political ideology, and firm performance around the world. Journal of World Business, 2021 56(1). |
| Lamberg, Juha-Antti; Luoma, Jukka. 2021 Ideology in Vicarious Learning-Related Communication. Organization Science 32(3):708-730 |
| Reisinger, M., Schmidt, J., Stieglitz, N. 2021 How complementors benefit from taking competition to the system level. Management Science, 2021 67(8) |
| Nykänen, N. 2021 Following the old road: Organizational imprinting and the regional development of Russia. Management and Organization Review, 17(3):583-616 |
| Hänninen, M., Luoma, J. & Mitronen, L. 2021 Information standards in retailing? A review and future outlook The International Review of Retail, Distribution and Consumer Research, 31(2) |
| Nevalainen, P., & Yliaska, V. 2021 From state-owned smokestacks to post-industrial dreams: The Finnish government in business, 1970-2010 Business History, 63(8) |
| Ehrig, T. & Schmidt, J. 2021 Making biased but better predictions: The tradeoffs strategists face when they learn and use heuristics. Strategic Organization 19(2):263-284 |
| Roitto, M., Nevalainen, P., & Kaarkoski, M. 2020 Fuel for commercial politics: the nucleus of early commercial proliferation of atomic energy in three acts. Forthcoming in Business History |
| Parvinen, P., Laitila, M., Pöyry, E., Gustafsson, R. & Rossi, M. 2020 Advancing data monetization and the creation of data-based business models. Communications of the association for information systems, 47(1), 2. |
| Maula, M. V. J., & Stam, W. Enhancing rigor in quantitative entrepreneurship research. Entrepreneurship Theory and Practice, 2020 44(6):1059-1090 |
| Heugens, P. P. M. A. R., Sauerwald, S., Turturea, R. & Van Essen, M. Does State Ownership Hurt or Help Minority Shareholders? International Evidence from Control Block Transactions Global Strategy Journal, 2020 10(4): 750-778 |
| Cheung, Z., Aalto, E., & Nevalainen, P. Institutional Logics and the Internationalization of a State-Owned Enterprise: Evaluation of International Venture Opportunities by Telecom Finland 1987–1998. Journal of World Business, 2020 55(6), |
| Vicente-Saez, R., Gustafsson, R. & Van den Brande, L. The dawn of an open exploration era: Emergent principles and practices of open science and innovation of university research teams in a digital world. Technological Forecasting and Social Change, 156, July 2020, 120037 |
| Engelen, Peter-Jan; Heugens, Pursey; Van Essen, Marc, Turturea, Roxana; Bailey, Nick The Impact of Stakeholders’ Temporal Orientation on Short- and Long-term IPO Outcomes: A Meta-analysis Long Range Planning 2020 53 (2). |
| Karhu, K., Gustafsson, R., Eaton, B., Henfridsson, O. & Sørensen, C. Four Tactics for Implementing a Balanced Digital Platform Strategy MIS Quarterly Executive 2020 19(2/4):105-120. |
| Schildt, H., Mantere, S., Cornelissen, J. Power in sensemaking processes. Organization Studies 2020 41(2) |
| Tihanyi, L., Aguilera, R. V., Heugens, P. P. M. A. R., Van Essen, M., Sauerwald, S., Duran, P. & Turturea, R. State Ownership and Political Connections Journal of Management 2019 45 (6): 2293-2321 |
| Garud, R., Lant, T. K. & Schildt, H. A. Generative imitation, strategic distancing and optimal distinctiveness during the growth, decline and stabilization of Silicon Alley Innovation: Management, Policy and Practice 2019 21(1):187-213. |
| Sauerwald, Steve; Heugens, Pursey P M A R; Turturea, Roxana; Van Essen, Marc Are all private benefits of control ineffective? principal‐principal benefits, external governance quality, and firm performance. Journal of Management Studies 2019 56(4): 725-757 |
| Baumann, O., Schmidt, J., Stieglitz, N. Effective search in rugged performance landscapes: A review and outlook Journal of Management 2019 45(1):285-318 |
| Gelderen, M. V.; Kautonen, T.; Wincent, J.; Biniari, M. Implementation intentions in the entrepreneurial process: concept, empirical findings, and research agenda. Small Business Economics 2018 51(4): 923-941 |
| Laamanen, T.; Maula, M.V.J.; Kajanto, M.; Kunnas, P. The Role of Cognitive Load in Effective Strategic Issue Management. Long Range Planning Long Range Planning 51 (4): 625-639 |
| Karhu, K., Gustafsson, R., & Lyytinen, K. Exploiting and Defending Open Digital Platforms with Boundary Resources: Android’s Five Platform Forks. Information Systems Research 2018 29(2):479–497 |
| Gustafsson, R.; Jarvenpaa, S. Extending community management to industry- university-government organizations. R&D Management 2018 48(1): 121-135 |
| Vuori, N., Vuori, T. & Huy, Q.N. Emotional practices: how masking negative emotions impacts the post-acquisition integration process. Strategic Management Journal 2018 39(3): 859-893 |
| Makarius, E.; Stevens, C.; Tenhiälä, A. Tether or stepping stone? The relationship between perceived external reputation and collective voluntary turnover rates. Organization Studies 2017 38(12):1665-1686 |
| Keil, T., Maula, M.V.J, & Syrigos, E. CEO Entrepreneurial Orientation, Entrenchment and Firm Value Creation. Entrepreneurship Theory and Practice 2017 41(4): 475–504 |
| Uotila, J.; Keil, T.; Maula, M.V.J., Supply-Side Network Effects and the Development of IT Standards. MIS Quarterly 2017 41(4) :1207-1226. |
| Graebner, M.; Heimeriks, K.; Huy, Q.; Vaara, E. The process of post-merger integration: A review and agenda for future research. Academy of Management Annals 2017, 11(1):1-32 |
| Kuusela, P.; Keil, T.; Maula, M.V.J. Driven by Aspirations, But in What Direction? Performance Shortfalls, Slack Resources and Resource-Consuming vs. Resource-Freeing Organizational Change. Strategic Management Journal 2017 38 (5): 101-1120 |
| Meuleman, M., Jääskeläinen, M., Maula, M.V.J., Wright, M. Venturing into the unknown with strangers: Substitutes of relational embeddedness in cross-border partner selection in venture capital syndicates. Journal of Business Venturing 2017 32 (2):131-144. |
| van der Have, Robert P.; Rubalcaba, Luis Social innovation research: An emerging area of innovation studies? Research Policy, November 2016, 45 (9):1923-1935 |
| Liu, Yu; Maula, Markku Local Partnering in Foreign Ventures: Uncertainty, Experiential Learning, and Syndication in Cross-Border Venture Capital Investments. Academy of Management Journal 2016 59(4): 1407-1429 |
| Lukkarinen, Anna; Teich, Jeffrey E.; Wallenius, Hannele; Wallenius, Jyrki Success drivers of online equity crowdfunding campaigns. Decision Support Systems 2016 87(July): 26–38 |
| Granqvist, Nina; Gustafsson, Robin Temporal Institutional Work Academy of Management Journal 2016 59(3): 1009-1035. |
| Schmidt, Jens; Makadok, Richard; Keil, Thomas Customer-Specific Synergies and Market Convergence Strategic Management Journal 2016 37(5):870-895 |
| Tenhiälä, A.; Giluk, T.L.; Simón, C.; Oh, I.-S.; Kepes, S.; Kim, S. The research-practice gap in Human Resource Management: A cross-cultural study. Human Resource Management 2016 55(2):179-200. |
| Cooper, Joseph T.; Stanley, Laura J.; Klein, Howard J.; Tenhiälä, Aino Profiles of commitment in standard and fixed-term employment arrangements: Implications for work outcomes. European Journal of Work and Organizational Psychology 2016 25(1):149-165. |
| Mitra, Atul; Tenhiälä, Aino; Shaw, Jason D. Smallest meaningful pay increases: Field test, constructive replication, and extension. Human Resource Management2016 55(1): 69–81. |
| Vuori, T. O., and Huy, Q. N. Distributed Attention and Shared Emotions in the Innovation Process: How Nokia Lost the Smartphone Battle. Administrative Science Quarterly, 2016 61(1): 9-51. |
| Gustafsson, Robin; Jääskeläinen, Mikko; Maula, Markku; Uotila, Juha Emergence of industries: A review and future directions International Journal of Management Reviews, 2016 18(1): 28-50. |
2022
Österman, Riku / Resource mobilization in capabilities for strategic change. Aalto University, 2022. 227 p.
Valli, Joosef/ Cognition, Complexity, and the Financial Crisis: The Federal Open Market Committee's Search for a Monetary Policy Strategy". Aalto University, 2022. 206 p.
2021
Vicente Saéz, Rubén/Open science in the digital era. Aalto University, 2021. 97 p.
2020
van der Have, Robert/Seeking Speed: Managing the Search for Knowledge to Innovate Faster.
Aalto University, 2020. 178 p.
Cheung, Zeerim/ Analytically Structured History Approach Using a Relational Database - Essays on the Historical Embeddedness of Strategy Formulation. Aalto University, 2020. 201 p.
Maheswaree, Pardeep/ CEO Selection and CEO-firm Fit. Aalto University, 2020. 135 p.
Nissilä, Heli/ Pursuing legitimacy for solar energy – essays on temporality and collective spaces in nascent fields. Aalto University, 2020. 164 p.
2017
Liu, Yu. / Antecedents and Outcomes of Partnering Abroad with Local Firms: Evidence from Cross-border Venture Capital. Aalto University, 2017. 144 p.
Partanen, Timo M.. / Entry to a New Technology-enabled Product Category - How New Market Uncertainty and Old Market Growth Influence Entry-timing Effects. Aalto University, 2017. 166 p.
Rowell, Chris. / Signaling and Shaping Legitimacy - Weaving webs of meaning in time and new markets. Aalto University, 2017. 160 p.
2016
Hossain, Mokter. / Embracing open innovation to acquire external ideas and technologies and to transfer internal ideas and technologies outside. Aalto University, 2016. 208 p.
Ervasti, Ilpo. / Paper Industry Material Recycling - Revealing and Rectifying the Chaos in Terminology. Aalto University, 2016. 148 p.
Ritakallio, Timo. / Shaping Elements While Maintaining Fit. Aalto University, 2016. 224 p.
Leppälä, Jarkko. / Systematic Risk Management on Farms. Aalto University, 2016. 152 p.
2015
Poesche, Jürgen. / Legitimization of Science and Technology: From the French Pragmatic Sociology and the Annales School to Complex and Recursive Recombination. Aalto University, 2015. 459 p.
2014
Rönkkö, Mikko. / Methodological Myths in Management Research: Essays on Partial Least Squares and Formative Measurement. Aalto University, 2014. 319 p.
Hämäläinen, Markko. / Renaissance Entrepreneurship: A Grounded Theory of Entrepreneurial Recycling. Aalto University, 2014. 182 p.
Peltonen, Juhana. / Strategic Management of Entrepreneurial Firms during Recession. Aalto University, 2014. 140 p.
Manninen, Otso. / Understanding Private Equity Fund Returns: Access as the Determinant of Differences between Limited Partners’ Private Equity Returns. Aalto University, 2014. 102 p.
2013
Kuusela, Pasi. / A Behavioral Theory Perspective on Acquisitions, Acquisition Performance, and Strategic Alternatives. Aalto University, 2013. 187 p.
Niemi, Antti. / The Governance of Long-Term Investing in Knowledge Creation - Novel Control Mechanisms for Reducing Managerial Myopia and Increasing Growth in Organizations. Aalto University, 2013. 226 p.
2012
Uotila, Juha. / Balancing exploratory and exploitative adaptation: Organizational and environmental dynamics. Aalto University, 2012. 229 p.
Schmidt, Jens. / Exploiting value-creation opportunities : A demand-based view. Aalto University, 2012. 263 p.
Vuori, Natalia. / Learning to carry out multiple acquisitions. Aalto University, 2012. 170 p.
Ollinaho, Ossi I.. / Origins of institutional change: Brazilian alcohol fuel program between 1975 and 2000. Aalto University, 2012. 270 p.
Viitamo, Esa. / Productivity as a competitive edge of a service firm : Theoretical analysis and a case study of the Finnish banking industry. Aalto University, 2012. 348 p.
Valorinta, Mikko. / Socio-cognitive perspectives on IT-enabled change in organizations. Aalto University, 2012. 134 p.
2011
Tahvanainen, Antti-Jussi. / Diagnosing the growing pains of a technology-based industry an examination of the Finnish biotechnology industry in light of empirical economics. ETLA - The Research Institute of the Finnish Economy, 2011. 229 p.
Järvinen, Joonas. / Dynamics of ecological interdependences between European paper & pulp and printing & publishing industries, 1950-2005. Aalto University, 2011. 250 p.
Vuori, Timo. / Emotional sensegiving. Aalto University, 2011. 227 p.
Thompson, Marc. / Management capability, innovations in work practices and performance : multilevel research in science and technology based firms. Aalto University, 2011. 51 p.
Kuronen, Tuomas. / Ritual in constructing strategic leadership mythologies. Aalto University, 2011. 146 p.
2010
Gustafsson, Robin. / Awareness, institutional entrepreneurship, and contradictions in emerging technological fields. Aalto-yliopiston teknillinen korkeakoulu, 2010. 223 p.
Keränen, Tapio. / Change in organization - emerging situations, character and praxis. Aalto-yliopiston teknillinen korkeakoulu, 2010. 225 p.
Aaltonen, Pertti. / Co-selection in R&D project portfolio management. Aalto-yliopiston teknillinen korkeakoulu, 2010. 197 p.
Laasasenaho, Martti. / Ohjelmakeskeisestä kehittämispolitiikasta yksilökeskeiseen kehittämispolitiikkaan harvaan asutulla maaseudulla : Elämänurasopimus kunnan ja kehittäjäyksilön välillä. Aalto-yliopiston teknillinen korkeakoulu, 2010. 247 p.
Partanen, Timo. / Regulatory interaction in electricity retail theory and evidence from the United States and the European Union. Aalto-yliopiston teknillinen korkeakoulu, 2010. 258 p.
Nikulainen, Tuomo. / Studies on the diffusion of new science-based technologies. Taloustieto, 2010. 123 p.
| Name | Title | Telephone | Room |
| Biniari, Marina | Visitor | +358 50 441 9093 | |
| Bodner, Julia | Visitor | 4141 | |
| Burkhard, Barbara | Postdoctoral Researcher | +358 50 470 2848 | 4111 |
| Byström, Nomi | Project Employee | 4143 | |
| Cheung, Zeerim | Visiting Postdoctoral Researcher | ||
| Golzarjannat, Anita | Doctoral Researcher | ||
| Gustafsson, Robin | Associate Professor | +358 50 316 0981 | 4112 |
| van der Have, Robert robert.vanderhave(at)aalto.fi |
Postdoctoral Researcher |
+358 40 727 8357 |
4117 |
| Heiska, Marianna (on leave) |
Doctoral Researcher | ||
| Heiskala, Mikko | Doctoral Researcher | +358 50 387 8152 | 4141 |
| Henriksson, Nina | Planning Officer | +358 50 387 8110 | 4115 |
| Indukaev, Andrey | Postdoctoral Researcher | 4143 | |
| Jääskeläinen, Mikko | Associate Professor | +358 50 592 3470 | 4135 |
| Kaila, Ruth | University Teacher | +358 40 701 9500 | 4110 |
| Karhu, Kimmo | Assistant Professor | +358 40 757 6871 | 4140 |
| Kelly, Peter | Senior Lecturer | +358 41 503 4508 | 2168 |
| Liesola, Erik | Doctoral Researcher | +358 50 400 1721 | 4141 |
| Lipiäinen, Niko | Visiting Doctoral Candidate | +358 50 452 4334 | 4125 |
| Lukkarinen, Anna |
Visitor | ||
| Luoma, Jukka | Associate Professor | +358 40 353 8412 | 4142 |
| Maheshwaree, Pardeep | Postdoctoral Researcher | ||
| Maula, Markku | Professor, Head of the Institute | +358 40 556 0677 | 4114 |
| Mucha, Tomasz | Doctoral Researcher | +358 50 475 5232 | 4141 |
| Nevalainen, Pasi | Academy Postdoctoral Researcher | +358 50 466 9625 | 4117 |
| Nykänen, Nooa | Postdoctoral Researcher | +358 50 430 0624 | 4141 |
| Nykänen, Sarri | Doctoral Researcher | +358 45 121 1552 | 4137 |
| Pejoska, Jana | Creative Director | +358 50 327 0966 | |
| Rönnqvist, Riitta | Doctoral Researcher | ||
| Salehi, Sajjad | Doctoral Researcher | 4125 | |
| Schildt, Henri | Professor | +358 50 413 9442 | |
| Schmidt, Jens | Associate Professor | +358 50 373 1429 | 4113 |
| Seppälä, Jane | Doctoral Researcher | +350 50 348 3224 | 4141 |
| Valli, Joosef | Postdoctoral Researcher | 4137 | |
| Vicente-Sáez, Rubén | Postdoctoral Researcher | +358 50 325 1920 | 4125 |
| Vuori, Timo | Associate Professor | +358 50 441 9072 | 4116 |
| Väisänen, Kaarlo | Doctoral Researcher | 3151 | |
| Wunder, David | Doctoral Researcher | 4137 | |
| Wallenius, Hannele | Professor, emerita | +358 50 387 8109 | 3168 |
Email addresses = [email protected] unless otherwise indicated.
The project seeks to understand what are the most impactful innovation policy tools that enable advancements and innovations in data and platform economy.
The project "Policy Rationals in the Shift to Digital Platform Economy" run by Aalto University studies the impacts of digital platform economy to the business and competitiveness of firms and the current state of Finnish innovation funding.