Joseph Mahoney

Joseph Mahoney

Professor of Business Administration and Caterpillar Chair of Business and Associate Director of Illinois Strategic Organizational Initiative

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140 C Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-244-8257

josephm@illinois.edu

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Educational Background

  • Ph.D., Business Economics, Industrial Organization Economics, University of Pennsylvania, 1989
  • M.S., Business Economics, University of Pennsylvania, 1984
  • B.A., Cum Laude, Economics, University of Pennsylvania, 1980

Positions Held

  • Associate Director of ISOI, Illinois Strategic Organizations Initiative, University of Illinois at Urbana-Champaign, 2024 to present,2021-2023
  • Caterpillar Chair in Business, University of Illinois at Urbana-Champaign, 2011 to present
  • Director of Graduate Studies, Business Administration, University of Illinois at Urbana-Champaign, 2008-2012
  • Investors in Business Education Professor of Strategy, University of Illinois at Urbana-Champaign, 2007-2010
  • Professor of Business Administration, Business Administration, University of Illinois at Urbana-Champaign, 2003 to present
  • Associate Professor of Business Administration, Business Administration, University of Illinois at Urbana-Champaign, 1995-2003
  • Assistant Professor of Business Administration, Business Administration, University of Illinois at Urbana-Champaign, 1988-1995

Recent Publications

  • Mahoney, J. Forthcoming. Towards a Property Rights Foundation for a Stakeholder Theory of the Firm" in Stakeholders. Journal of Management and Governance ( pp. Chapter 29). Northampton, MA: Edward Elgar.
  • Mahoney, J. Forthcoming. Towards a Stakeholder Theory of Strategic Management. Towards a New Theory of the Firm: Humanizing the Firm and the Management Profession ( pp. 153-182). Cambridge, MA: Ballinger Publishing Company.
  • Mahoney, J. (2023). Corporate Personhood and Fiduciary Duties as Critical Constructs in Developing Stakeholder Management Theory and Corporate Purpose. Strategy Science, 8 (2), 212-220.
  • Haveman, H., Mahoney, J., & Mannix, B. (2021). The Evolving Science of Organization: Theory Matters. Academy of Management Review, 46 (4).

Other Publications

Articles

  • Amis, J., Barney, J., Mahoney, J., & Wang, H. (2020). Why We Need a Theory of Stakeholder Governance --- And Why This is a Hard Problem. Academy of Management Review, 45 (3), 499-503.
  • Anand, G., Larson, E., & Mahoney, J. (2020). Thomas Kuhn on Paradigms. Production and Operations Management, 29 (7), 1650-1657.
  • Tan, D., Su, W., Kor, Y., & Mahoney, J. (2020). A Review of Research on the Growth of Multinational Enterprises: A Penrosean Lens. Journal of International Business Studies, 51 (4), 498-537.
  • Mahoney, J. (2020). Transaction Cost Economics As a Theory of Supply Chain Efficiency. Production and Operations Management, 29 (4), 1011-1031.
  • Kim, S., Anand, G., Larson, E., & Mahoney, J. (2019). Resource Co-Specialization in Outsourcing of Entrepreneurial Systems Software: Impact on Exchange Success and Firm Growth. Journal of Science and Technology Policy Management, 10 (5), 1015-1046.
  • Mahoney, J. (2019). Value creation and value appropriation in public and nonprofit organizations. Strategic Management Journal, 40 (4), 465-475.
  • Argyres, N., Mahoney, J., & Nickerson, J. (2019). "Strategic Respones to Shocks: Comparative Adjustment Costs, Transaction Costs, and Opportunity Costs". Strategic Management Journal, 40 (3), 357-376.
  • Argyres, N., Mahoney, J., & Nickerson, J. (2019). "Strategic Respones to Shocks: Comparative Adjustment Costs, Transaction Costs, and Opportunity Costs". Strategic Management Journal, 40 (3), 357-376.
  • Mahoney, J. (2019). Strategic responses to shocks: Comparative adjustment costs, transaction costs, and opportunity costs. Strategic Management Journal, 40 (3), 357-376.
  • Mahoney, J. (2019). ORGANIZATIONAL GOVERNANCE ADAPTATION: WHO IS IN, WHO IS OUT, AND WHO GETS WHAT. Academy of Management Review, 44 (1), 6-27.
  • Pettus, M., Kor, Y., Mahoney, J., & Michael, S. (2018). Sequencing and timing of strategic responses after industry disruption: Evidence from post-deregulation competition in the US railroad industry. Strategic Organization, 16 (4), 373-400.
  • Tsay, A., Gray, J., Noh, I., & Mahoney, J. (2018). A Review of Production and Operations Management Research on Outsourcing in Supply Chains: Implications for the Theory of the Firm. Production and Operations Management, 27 (7), 1177-1220.
  • Chen, P., Kor, Y., Mahoney, J., & Tan, D. (2017). Pre-Market Entry Experience and Post-Market-Entry Learning of the Board of Directors: Implications for Post-Entry Performance. Strategic Entrepreneurship Journal, 11 (4), 441-463.
  • Riley, S., Michael, S., & Mahoney, J. (2017). Human Capital Matters: Market Valuation of Firm Investments in Training and the Role of Complementary Assets. Strategic Management Journal, 38 (9), 1895-1914.
  • Kor, Y., Mahoney, J., Siemsen, E., & Tan, D. (2016). Penrose's The Theory of the Growth of the Firm: An Exemplar of Engaged Scholarship Production and Operations Management, 25 (10), 1727-1744.
  • Kim, B., Kim, E., Miller, D., & Mahoney, J. (2016). The Impact of the Timing of Patents on Innovation Performance. Research Policy, 45 (4), 914-928.
  • Ketokivi, M., & Mahoney, J. (2016). Transaction Cost Economics as a Constructive Stakeholder Theory. Academy of Management Learning & Education, 15 (1), 123-138.
  • Jones, T., Donaldson, T., Freeman, E., Harrison, J., Leanna, C., Mahoney, J., & Pearce, J. (2016). Management Theory and Social Welfare: Contributions and Challenges. Academy of Management Review, 41 (2), 216-228.
  • Jones, T., Donaldson, T., Freeman, R., Harrison, J., Leana, C., Mahoney, J., & Pearce, J. (2016). Introduction to special topic forum management theory and social welfare: Contributions and challenges. Academy of Management Review, 41 (2), 216-228.
  • Mahoney, J. (2015). Advancing the Human Capital Perspective on Value Creation by Joining Capabilities and Governance Approaches. Academy of Management Perspectives, 29 (3), 286-308.
  • Mahoney, J., & Kor, Y. (2015). Advancing the Human Capital Perspective on Value Creation by Joining Capabilities and Governance Approaches. Academy of Management Perspectives, 29 (3), 286-308.
  • Kim, M., Mahoney, J., & Tan, D. (2015). Re-conceptualising exploitative and explorative FDI: A balancing-process approach to firm internationalisation. European Journal of International Management, 9 (5), 537-565.
  • Godfrey, P., & Mahoney, J. (2014). The Functions of the Executive at 75: An Invitation to Reconsider a Timeless Classic. Journal of Management Inquiry, 23 (4), 360-372.
  • Mahoney, J., & Qian, L. (2013). Market Frictions as Building Blocks of an Organizational Economics Approach to Strategic Managment. Strategic Management Journal, 34 (9), 1019-1041.
  • Klein, P., Mahoney, J., McGahan, A., & Pitelis, C. (2013). Capabilities and Strategic Entrepreneurship in Public Organizations. Strategic Entrepreneurship Journal, 7 (1), 70-91.
  • Klein, P., Mahoney, J., Mcgahan, A., & Pitelis, C. (2013). Capabilities and Strategic Entrepreneurship in Public Organizations. Strategic Entrepreneurship Journal, 7 (1), 70-91.
  • Moeen, M., Somaya, D., & Mahoney, J. (2013). Supply Portfolio Concentration in the Outsourcing of Knowledge Based Services. Organization Science, 24 (1), 262-279.
  • McCarter, M., Mahoney, J., & Northcraft, G. (2011). Testing the waters: Using collective real options to manage the social dilemma of strategic alliances. Academy of Management Review, 36 (4), 621-640.
  • Bucheli, M., Mahoney, J., & Vaaler, P. (2010). Chandler's Living Scholarship: The Visible Hand of Vertical Integration in 19th Century America Seen under a 21st Century Transaction Costs Economics Lens". Journal of Management Studies, 47 (5), 859-883.
  • Agarwal-Tronetti, R., Croson, R., & Mahoney, J. (2010). The Role of Incentives and Communication in Strategic Alliances: An Experimental Investigation. Strategic Management Journal, 31 (4), 413-437.
  • Kim, J., & Mahoney, J. (2010). A Strategic Theory of the Firm as a Nexus of Incomplete Contracts: A Property Rights Approach". Journal of Management, 36 (4), 806-826.
  • Mahoney, J., McGahan, A., & Pitelis, C. (2009). The Interdependence of Private and Public Interests". Organization Science, 20 (6), 1043-1052.
  • Wang, H., He, J., & Mahoney, J. (2009). Firm-Specific Knowledge Resources and Competitive Advantage: The Role of Economic-and Relationship-Based Employee Governance Mechanisms". Strategic Management Journal, 30 (12).
  • Foss, N., Klein, P., Kor, Y., & Mahoney, J. (2008). Entrepreneurship, Subjectivism, and the Resource-Based View: Toward a New Synthesis". Strategic Entrepreneurship Journal, 2 (1), 73-94.
  • Kang, M., & Mahoney, J. (2008). Why Firms Make Unilateral Investments Specific to Other Firms: The Case of OEM Suppliers". Strategic Management Journal, 30 (2), 117-135.
  • Kim, J., & Mahoney, J. (2007). Appropriating Economic Rents from Resources: An Integrative Property Rights and Resource-Based Approach. International Journal of Learning and Intellectual Capital, 4 (1), 11-28.
  • Kor, Y., Michael, S., & Mahoney, J. (2007). Resources, Capabilities, and Entrepreneurial Perceptions. Journal of Management Studies, 44 (7), 1187-1212.
  • Mahoney, J., & McGahan, A. (2007). The Field of Strategic Management within the Evolving Science of Strategic Organization". Strategic Organization, 5 (1), 79-99.
  • Tan, D., & Mahoney, J. (2007). The Dynamics of Japanese Firm Growth in U.S. Industries: The Penrose Effect". Management International Review, 47 (2), 259-279.
  • Kim, S., & Mahoney, J. (2006). Mutual commitment to support exchange: relation-specific IT system as a substitute for managerial hierachy. Strategic Management Journal, 27 (5), 401-423.
  • Lajili, K., & Mahoney, J. (2006). "Revisiting Agency and Transaction Costs Theory Predictions on Vertical Financial Ownership and Contracting: Electronic Integration as an Organizational Form Choice" Managerial and Decision Economics. Managerial and Decision Economics, 27 (7), 573-586.
  • Mahoney, J. (2006). How Property Rights Economics Furthers the Resource-Based View: Resources, Transaction Costs and Entrepreneurial Discovery. International Journal of Strategic Change Management, 1 (1), 40-52.
  • Tan, D., & Mahoney, J. (2006). Why a Multinational Firm Chooses Expatriates: Integrating Resource-Based, Agency, and Transaction Costs Perspectives. Journal of Management Studies, 43 (3), 457-484.
  • Carleton-Asher, C., Mahoney, J., & Mahoney, J. (2005). Towards a Property Rights Foundation for a Stakeholder Theory of the Firm. Journal of Management and Governance, 9 (1), 5-32.
  • Kim, J., & Mahoney, J. (2005). Property Rights Theory, Transaction Costs Theory, and Agency Theory: An Organizational Economics Approach to Strategic Management. Managerial and Decision Economics, 26 (4), 223-242.
  • Kor, Y., & Mahoney, J. (2005). How Dynamics, Management, and Governance of Resource Deployments Influence Firm-Level Performance. Strategic Management Journal, 26 (5), 489-496.
  • Tan, D., & Mahoney, J. (2005). Examining the Penrose Effect in an International Business Context: The Dynamics of Jananese Firm Growth in U.S. Industries. Managerial and Decision Economics, 26 (2), 113-127.
  • Kor, Y., & Mahoney, J. (2004). Edith Penrose's (1959) Contributions to the Resource-Based View of Strategic Management. Journal of Management Studies, 41 (1), 183-191.
  • Mahoney, J., & Sanchez, R. (2004). Building New Management Theory by Integrating Processes and Products of Thought. Journal of Management Inquiry, 13 (1), 34-47.
  • Kim, J., & Mahoney, J. (2002). Resource-Based and Property Rights Pespectives on Value Creation: The Case of Oil Field Unitization. Managerial and Decision Economics, 23 (4), 225-245.
  • Mahoney, J. (2002). The Continuing Relevance of Chester I. Barnard's Teachings to Contemporary Management Education. International Journal of Organization Theory and Behavior, 5 (1), 159-172.
  • Mahoney, J. (2001). A Resource-Based Theory of Sustainable Rents. Journal of Management, 27 (6), 651-660.
  • Kor, Y., & Mahoney, J. (2000). Penrose's Resource-Based Approach: The Process and Product of Research Creativity. Journal of Management Studies, 37 (1), 109-139.
  • Bogner, W., Mahoney, J., & Thomas, H. (1998). Paradigm Shift: Parallels in the Origin, Evolution an Function of the Strategic Group Concept and the Resource-based Theory of the Firm. Advances in Strategic Management, 14 63-102.
  • Lajili, K., Barry, P., Sonka, S., & Mahoney, J. (1997). Farmers' Preferences for Crop Contracts: A Principal-Agent Analysis. Journal of Agricultural Resource Economics, 22 (2), 264-280.
  • Mahoney, J., Sundaramurthy, C., & Mahoney, J. (1997). The Effects of Corporate Antitakeover Provisions on Long-term Investment: Empirical Evidence. Managerial and Decision Economics, 18 (5), 349-365.
  • Sundaramurthy, C., Mahoney, J., & Mahoney, J. (1997). Board Structure, Antitakeover Provisions, and Stockholder Wealth. Strategic Management Journal, 18 (3), 231-245.
  • Sanchez, R., & Mahoney, J. (1996). Modularity, Flexibility, and Knowledge Management in Product and Organization Design. Strategic Management Journal, 17 63-76.
  • Mahoney, J., Sundaramurthy, C., & Mahoney, J. (1996). The Differential Impact on Stockholder Wealth of Various Antitakeover Provisions. Managerial and Decision Economics, 17 (6), 531-549.
  • Mahoney, J. (1995). The Management of Resources and the Resource of Management. Journal of Business Research, 33 (2), 91-101.
  • Mahoney, J., Huff, A., & Huff, J. (1994). Management's Search for Balance. Journal of Management Inquiry, 3 (2), 173-174.
  • Mahoney, J., Huff, A., & Huff, J. (1994). Toward a New Social Contract Theory in Organization Science. Journal of Management Inquiry, 3 (2), 153-168.
  • Mahoney, J. (1993). Strategic Management and Determinism: Sustaining the Conversation. Journal of Management Studies, 30 (1), 173-191.
  • Mahoney, J., & Mahoney, J. (1993). An Empirical Investigation of the Effect of Antitakeover Amendments on Stockholder Wealth. Strategic Management Journal, 14 (1), 17-31.
  • Mahoney, J. (1992). Organizational Economics within the Conversation of Stategic Management. Advances in Strategic Management, 8 103-155.
  • Mahoney, J. (1992). The Adoption of the Multidivisional Form of Organization: A Contingency Model. Journal of Management Studies, 29 (1), 49-72.
  • Mahoney, J. (1992). The Choice of Organizational Form: Vertical Financial Ownership versus Other Methods of Vertical Integration. Strategic Management Journal, 13 (8), 559-584.
  • Mahoney, J., & Pandian, J. (1992). The Resource-Based View within the Conversation of Strategic Management. Strategic Management Journal, 13 (5), 363-380.
  • Phillips, A., & Mahoney, J. (1985). Unreasonable Rules and Rules of Reason: Economic Aspects of Vertical Price Fixing. Antitrust Bulletin, Antitrust Bulletin, 30 (1), 99-115.

Book Chapters

  • Skousen, B., & Mahoney, J. (2015). Factors Influencing the Registration Decision in the Informal Economy. Rethinking Management: Theory at the Formal/ Informal Boundary London: Routledge.
  • Mahoney, J. (2013). Modularity and Economic Organization: Concepts, Theory, and Observations. Handbook of Economic Organization: Integrating Economic and Organization Theory ( pp. 383-399). Northampton, MA: Edward Elgar.
  • Mahoney, J. (2013). Chester Barnard and the Systems Approach to Nurturing Organizations. Oxford Handbook of Management Theorists ( pp. 134-151). Oxford: Oxford University Press.
  • Mahoney, J. (2011). Evidence-Based Management in "Macro' Areas: The Case of Strategic Management. Handbook of Evidence-Based Management: Companies, Classrooms and Research ( pp. 79-91). Oxford: Oxford University Press.
  • Mahoney, J., & Michael, S., R. Agarwal, S. Alvarez, & O. Sorenson (Ed.) (2005). A Subjectivist Theory of Entrepreneurship. Handbook of Entrepreneurship ( pp. 33-53). New York: Springer Publications.
  • Tan, D., & Mahoney, J., Joseph L. C. Cheng, Michael A. Hitt (Ed.) (2003). Explaining the Utilization of Managerial Expatriates From the Perspectives of Resource-Based, Agency, and Transaction-Costs Theories. Managing Multinationals in a Knowledge Economy: Economics, Culture (Advances in International Management, Volume 15) ( pp. 179-205). Emerald Group Publishing, Ltd.
  • Sanchez, R., & Mahoney, J., Henk Volberda and Tom Elfring (Ed.) (2001). Modularity and Dynamic Capabilities. Rethinking Strategy ( pp. 158-171). Thousand Oaks, CA: Sage Publications.
  • Mahoney, J., & Sanchez, R., A. Heene & R. Sanchez (Ed.) (1997). Competence Theory Building: Reconnecting Management Research and Management Practice. Competence-based Strategic Management ( pp. 45-64). England: John Wiley & Sons.
  • Mahoney, J., & Crank, D., K. Coaldrake, S. T. Sonka, D. Sudharshan, F. W. Winter (Ed.) (1995). Vertical Coordination: The Choice of Organizational Form. New Industries and Strategic Alliances in Agriculture: Concepts and Cases ( pp. 89-126). Champaign, IL: Stipes Publishing Company.

Books and Monographs

  • Mahoney, J. (2005). Economic Foundations of Strategy. Thousand Oaks, CA: Sage Publications.

Conference Proceedings

  • Isakova, V., Mahoney, J., Chattopadhyay, S., & Schijven, M. (2022). A framework for the economic value of corporate strategic moves: Joining corporate and competitive strategies. Academy of Management.
  • Isakova, V., Mahoney, J., Chattopadhyay, S., & Schijven, M. (2022). A framework for the economic value of corporate strategic moves: Joining corporate and competitive strategies. Eighty-second Annual Meeting of the Academy of Management.
  • Pettus, M., Michael, S., Kor, Y., & Mahoney, J. (2010). Stepping Stones to Firm Growth: Evidence from the Deregulated Railroad Industry. Academy of Management Best Paper Proceedings.
  • Gebauer, J., & Mahoney, J. (2004). Vertical De-Integration Based on Product Modularization and Reconfiguration-An Organizational Economics Perspective. Academy of Management Annual Meeting.

Presentations

  • Bercovitz, J., & Mahoney, J. (2013). Beyond the Dyad: Taking Stock and Looking Forward. International Society for New Institutional Economics.
  • Moeen, M., Somaya, D., & Mahoney, J. (2011). Supply Portfolio Concentration in the Outsourcing of Knowledge Based Services. ASQ-HEC-OMT conference on ‘Coordination within and among Organizations’.
  • Moeen, M., Somaya, D., & Mahoney, J. (2010). Supply Portfolio Concentration in the Outsourcing of Knowledge Based Services. Atlanta Competitive Advantage Conference.
  • Moeen, M., Somaya, D., & Mahoney, J. (2010). Supply Portfolio Concentration in the Outsourcing of Knowledge Based Services. Mid-Atlantic Strategy Colloquium (University of Maryland.
  • Moeen, M., Somaya, D., & Mahoney, J. (2010). Supply Portfolio Concentration in the Outsourcing of Knowledge Based Services. Midwest Strategy Meetings (Kellogg School, Northwestern University.
  • Kim, M., & Mahoney, J. (2009). A Balancing-Mechanism Approach to the Theory of the Multinational Enterprise. Academy of International Business Annual Meetings.
  • Gebauer, J., & Mahoney, J. (2007). Information Technology Enabled Product Modularization: A Value-Based Approach Integrating Supply And Demand Perspectives. 27th Annual International Conference of the Strategic Management Society.
  • Gebauer, J., & Mahoney, J. (2004). Vertical De-Integration Based on Product Modularization and Reconfiguration-An Organizational Economics Perspective. Academy of Management Annual Meeting.
  • Gebauer, J., & Mahoney, J. (2003). The Impact of Information Technology on Organizational Structure: An Organizational Economics Perspective. University of Illinois, Strategy/OB/IS Workshop.
  • Agarwal-Tronetti, R., Croson, R., & Mahoney, J. (2003). Investigating Learning Processes in Alliances: An Experimental Methodology. Academy of Management Annual Meeting.

Working Papers

  • Chauradia, A., Somaya, D., & Mahoney, J. When Is It Better to Build versus Acquire Human Capital? A Comparative Performance Assessment.
  • Kim, B., Kim, E., Miller, D., & Mahoney, J. The Impact of the Timing of Patents on Innovation Performance.
  • Lan, S., Miller, D., & Mahoney, J. A Knowledge-Based View of Financial Performance of Open Source Sponsorship.
  • Liu, C., Mahoney, J., & Miller, D. Where Does Architectural Knowledge Come From.
  • Moeen, M., & Mahoney, J. Supply Portfolio Concentration in Outsourced Knowledge-Based Services.
  • Hoetker, G., Carnahan, S., & Mahoney, J. Inquiry into Modern Contractual Relations in Strategic Management:  Theory and Applications.

Honors and Awards

  • Strategic Management Society Fellow, Strategic Management Society, 2013 to present
  • Academy of Management Fellow, Academy of Management, 2012 to present
  • Dean's Impact Award, University of Illinois at Urbana-Champaign, 2021

Service

  • Associate Editor, Strategic Management Review, 2020 to present, 2020 to present
  • Associate Editor, Academy of Management Review, 2017-2020
  • Editorial Board Member, Journal of Management Studies, 2003-2020
  • Editorial Board Member, Strategic Management Journal, 1991-2006
  • Editorial Board Member, Academy of Management Review, 2002-2005

Teaching Interests

Teaches undergraduate capstone course in strategic management, and Ph.D. courses in strategic management and organizational economics.

Research Interests

Research interests in corporate governance and organizational economics including: the behavioral theory of the firm; stakeholder theory; transaction costs theory; property rights theory; agency theory; resource-based theory; dynamic capabilities & real-options theory.

Current Courses

  • Business Policy and Strategy (BADM 449) Analysis of policy formulation and implementation from a company-wide standpoint; emphasis on integration of knowledge and approaches across functional areas; both endogeneous and exogeneous factors which affect company policies; and the role of the firm in society.

  • Strategic Mgt and Bus Policy (BADM 449) Analysis of policy formulation and implementation from a company-wide standpoint; emphasis on integration of knowledge and approaches across functional areas; both endogeneous and exogeneous factors which affect company policies; and the role of the firm in society.

  • Phil of Science and Bus Admin (BADM 504) Introduction to philosophy of science that focuses on the nature of discovering and justifying knowledge in the business disciplines. Specific issues of interest are the nature of scientific truth, validation of theories, prediction and explanation. Discusses applications to research in various business disciplines.

  • Found of Strategy Research (BADM 545) Seminars on topics in the development of strategic management theory. Topics include: Classics in Strategic Management (explores the historical development of the foundational literature of strategic management); and Theory Development and Assessment in Strategic Management (focuses on the process of conducting and critiquing research in the field).

  • Economic Foundations of Strat (BADM 549) Seminar on current theoretical and empirical research relating to emerging areas of knowledge in the strategic management field. Reflecting the emphasis of current research on strategic and organizational phenomena, topics vary from year to year.

Contact

140 C Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

217-244-8257

josephm@illinois.edu

Vita

Google Scholar

Website

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