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Institute of Strategy |
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Professor Markku V. J. Maula Head of the Institute of Strategy Professor of
Venture Capital |
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Contact Information |
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Mobile phone |
+358 40 556 0677 |
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Office phone |
+358 9 4702 3085 |
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Telefax |
+358 9 4702 3095 |
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Mail address |
Institute of
Strategy |
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Visiting address |
TUAS Building, Otaniementie 17, Espoo, Finland |
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Biography |
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Dr. Markku V. J. Maula is the Head of the Institute and Professor of Venture Capital at the Institute of Strategy, Aalto University. He was appointed as a professor in 2004 and tenured in 2009. Since Fall 2011, Professor Maula has been the founding director of the Aalto Ventures Program. He graduated as Doctor of Science in Technology (with distinction) in 2001. Prior to that, he graduated as MSc (Econ.) majoring in Finance at Helsinki School of Economics (2000) and MSc (Eng.) (with distinction) in Strategy at Helsinki University of Technology (2000). He has been a visiting scholar at Stanford University, Scancor, in 2000 and at INSEAD in 2010. In Spring 2012 he is visiting Stanford again. Before his academic career, he worked at Nokia and CapMan. Professor Maula’s research focuses on value creation related issues in business strategy and corporate finance with a particular focus on venture capital and private equity, technology-based new firms, corporate venturing, mergers and acquisitions, and innovation policy. He has lead several international research projects on the internationalization of the venture capital and private equity industries, various forms of external corporate venturing, as well as public policy to develop venture capital markets, implemented in collaboration with international scholars and leading firms and government agencies. His current main research projects focus on value creation through active and responsible ownership, development of emerging industries, and global networks in the finance of innovation. Professor Maula’s research has been published in referee journals including Strategic Management Journal, Journal of Business Venturing, Research Policy, Entrepreneurship Theory & Practice, and Strategic Entrepreneurship Journal. In addition to journal publications, he has authored or co-authored several papers currently under review in leading scholarly journals, several book chapters, tens of conference papers presented in the leading academic conferences, and several policy papers and reports. His publications can be found through his ResearcherID, Google Scholar profile, SSRN author profile, and Microsoft Academic Search profile. Professor Maula has received several international awards for outstanding scholarship. He was the second scholar in Europe to win the Heizer Award from the Academy of Management for the best doctoral dissertation in the field of new enterprise development. He has also been awarded the McKinsey & Company Strategic Management Society Best Conference Paper Prize Honorable Mention (multiple times), the Stevens Institute of Technology Wesley J. Howe Award for Excellence in Research on the Topic of Corporate Entrepreneurship and The Haynes Prize for the Best Paper Award. His research has been cited in national and international press and news channels including Financial Times and Dow Jones Newswires. Professor Maula teaches several Master’s and doctoral level courses and supervises doctoral, Master’s and MBA theses. In addition to his research and teaching roles, Professor Maula is or has been the chairman or a member of several boards and committees e.g. a member in the Research Committee of the Entrepreneurship Division of the Academy of Management, Editorial Board member of Strategic Management Journal, Journal of Business Venturing, Entrepreneurship Theory & Practice, and Venture Capital: International Journal of Entrepreneurial Finance as well as a Review Board member of the Babson College Entrepreneurship Research Conference. He is also a member of the Board of Studies of Aalto University Executive Education and has been the Chairman of the Committee for Postgraduate Studies and the Director of the Doctoral Program of the Department of Industrial Engineering and Management (2004-2009), a board member in the Venture Cup Finland Foundation (2004-2009), and a steering group member in the Helsinki Institute for Science and Technology Studies (2004-2012). He is also a member of the Independent Governing Body of PEREP_Analytics, a pan-European private equity data collection platform. Professor Maula has also acted as an active advisor to many industry leading firms and domestic and international government agencies in various issues related to venture capital and private equity, business strategy, corporate finance, corporate venturing, and innovation policy including expert roles e.g. for the Finnish Prime Minister’s Office, the Ministry of Employment and the Economy of Finland, Sitra the Finnish Innovation Fund, Tekes the Finnish Funding Agency for Technology and Innovation, Enterprise Ireland (with PwC), AkzoNobel, Roschier Attorneys Ltd., Nordic Innovation Center, a task force of the Nordic Council of Ministers, as well as invited expert testimonies and presentations e.g. for the European Commission, the Economic Council of Finland, the Ministry of Finance, the Ministry of Employment and the Economy, and the Commerce Committee of the Parliament of Finland. |
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Recent Publications in Refereed Journals |
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Schildt,
H.A., Keil, T. & Maula, M.V.J. 2012. The Temporal Effects of Relative and
Firm-Level Absorptive Capacity on Interorganizational Learning. Forthcoming
in Strategic
Management Journal. Keil,
T., Maula, M.V.J., & Wilson, C. 2010. Unique Resources of Corporate
Venture Capitalists as a Key to Entry into Rigid Venture Capital Syndication
Networks. Entrepreneurship Theory & Practice 34(1):
83-103. Maula,
M.V.J., Autio, E., & Murray, G.C. 2009. Corporate Venture Capital and the
Balance of Risks and Rewards for Portfolio Companies. Journal of Business Venturing 24(3):
274-286. Hill,
S., Maula M.V.J., Birkinshaw, J., & Murray, G.C. 2009. Transferability of
the Venture Capital Model to the Corporate Context: Implications for the
Performance of Corporate Venture Units. Strategic
Entrepreneurship Journal 3(1): 3-27. Uotila,
J., Maula, M.V.J., Keil, T., & Zahra, S.A. 2009. Exploration,
Exploitation and Financial Performance: Analysis of S&P 500 Corporations.
Strategic
Management Journal 30(2): 221-231. Keil,
T., Maula, M.V.J., Schildt, H.A., & Zahra, S.A. 2008. The Effect of
Governance Modes and Relatedness of External Business Development Activities
on Innovative Performance. Strategic
Management Journal 29(8): 895-907. Mäkelä,
M.M. & Maula, M.V.J. 2008. Attracting Cross-Border Venture Capital: The
Role of a Local Investor. Entrepreneurship
and Regional Development 20: 237-257. Hursti,
J. & Maula, M.V.J. 2007. Acquiring Financial Resources From Foreign
Equity Capital Markets: Examination of the Factors Influencing Foreign
Initial Public Offerings. Journal of Business Venturing 22(6):
833-851. Jääskeläinen,
M., Maula, M.V.J., & Murray G.C. 2007. Profit Distribution
and Compensation Structures in Publicly and Privately Funded Hybrid Venture
Capital Funds. Research Policy 36(7):
913-929. Jääskeläinen,
M., Maula, M.V.J., & Seppä, T. 2006 Allocation of Attention to Portfolio
Companies and the Performance of Venture Capital Firms. Entrepreneurship Theory & Practice 30(2):
185-206. Mäkelä,
M.M. & Maula, M.V.J. 2006. Interorganizational Commitment in Syndicated
Cross-Border Venture Capital Investments. Entrepreneurship Theory & Practice 30(2):
273-298. Schildt,
H.A., Maula, M.V.J., & Keil, T. 2005. Explorative and Exploitative
Learning from External Corporate Ventures. Entrepreneurship
Theory & Practice 29(4): 493-515. Maula,
M.V.J., Autio, E., & Arenius, P. 2005. What Drives Micro-Angel
Investments? Small
Business Economics 25(5): 459-475. Zahra,
S.A., Keil, T., & Maula, M.V.J. 2005. New Ventures’ Inward Licensing:
Examining the Effects of Industry and Strategy Characteristics. European
Management Review 2(3): 154-166. Mäkelä,
M.M. & Maula, M.V.J. 2005. Cross-Border Venture Capital and New Venture
Internationalization: An Isomorphism Perspective. Venture Capital: An International Journal of Entrepreneurial
Finance 7(3): 227-257. Maula, M.V.J., Autio, E., & Murray G.C. 2005. Corporate
Venture Capitalists and Independent Venture Capitalists: What Do They Know,
Who Do They Know, and Should Entrepreneurs Care? Venture Capital: An International Journal of Entrepreneurial
Finance 7(1): 3-19. |
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