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Strategy and Business Policy
Member of CNRS-GREGHEC Research Group
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Thomas Åstebro is Professor of strategy and entrepreneurship at HEC Paris; Professor of entrepreneurship at KULeuven (20%); Academic Director, HEC Leadership Center; co-Director Entrepreneurship Track HEC MBA Program, and past member of the Steering committee Groupement de Recherche et d’Etudes en Gestion d’HEC (HEC Management Research Group) and the Steering and Curriculum committees, MBA Program at HEC. He is listed in Marquis Who's Who in the World, is among the top 2 percent most downloaded authors on www.ssrn, has made over 150 presentations, published over 30 academic journal articles, and has been mentioned in business media over 50 times (including The Economist , Business Week , The Times , and Wall Street Journal ). He is an Associate Editor of Management Science , Industrial and Corporate Change , and Research Policy , and past Associate Editor of European Management Review .
"Decision biases and entrepreneurial finance", Forthcoming, Small Business Economics, (in coll. with G. ADOMDZA, K. YONG).
"Equity crowdfunding: A new phenomena", Journal of Business Venturing Insights, June 2016, vol. 5, pp. 37–49 (in coll. with N. VULKAN, M. FERNANDEZ SIERRA).
"Invention Quality and Entrepreneurial Earnings: The Role of Prior Employment Variety", Entrepreneurship: Theory and Practice, March 2016, vol. 40, n° 2, pp. 381-400 (in coll. with K. YONG).
"Public policy to promote entrepreneurship: a call to arms", Small Business Economics, June 2016, vol. 47, n° 1, pp. 35-51 (in coll. with T. ACS, D. AUDRETSCH, D. ROBINSON).
"Business Partners: Complementary Assets, Financing, and Invention Commercialization", Journal of Economics and Management Strategy, Summer 2015, vol. 24, n° 2, pp. 228-252 (in coll. with C. SERRANO).
"Detecting heterogeneous risk attitudes with mixed gambles", Theory and Decision, December 2015, vol. 79, n° 4, pp. 573-600 (in coll. with L. SANTOS-PINTO, A. BRUHIN, J. MATA).
"Skewness seeking: risk loving, optimism or overweighting of small probabilities?", Theory and Decision, February 2015, vol. 78, n° 2, pp. 189-208 (in coll. with J. MATA, L. SANTOS-PINTO).
"Classification models via Tabu search: An application to early stage venture classification", Expert Systems with Applications, December 15 2014, vol. 41, n° 18, pp. 8085-8091 (in coll. with S. ELHEDHLI, C. AKDEMIR).
"Seeking the Roots of Entrepreneurship: Insights from Behavioral Economics", Journal of Economic Perspectives, Summer 2014, vol. 28, n° 3, pp. 49-70 (in coll. with H. HERZ, R. NANDA, R. WEBER).
"The entrepreneurial earnings puzzle: Mismeasurement or real?", Journal of Business Venturing, January 2014, vol. 29, pp. 88-105 (in coll. with J. CHEN ).
"Does academic entrepreneurship pay?", Industrial and Corporate Change, February 2013, vol. 22, n° 1, pp. 281-311 (in coll. with P. Braunerhjelm, A. Broström).
"Bound and Collapse Bayesian Reject Inference for Credit Scoring", Journal of the Operational Research Society, October 2012, vol. 63, n° 10, pp. 1374-1387 (in coll. with G. Chen).
"More than a Dummy: The Probability of Failure, Survival and Acquisition of Private Firms in Financial Distress", European Management Review, 2012, vol. 9, n° 1 (in coll. with J. Winter).
"Startups by recent university graduates and their faculty: Implications for university entrepreneurship policy", Research Policy, May 2012, vol. 41, n° 4, pp. 663-677 (in coll. with N. BAZZAZIAN, S. Braguinsky).
"Entrepreneurs: Jacks of all Trades or Hobos?", Research Policy, June 2011, vol. 40, n° 5, pp. 637-649 (in coll. with P. Thompson).
"Stars and Misfits: Self-Employment and Labor Market Frictions", Management Science, November 2011, vol. 57, n° 11, pp. 1999-2017 (in coll. with P. Thompson, J. Chen).
"Entrepreneurs Seeking Gains: Profit Motives and Risk Aversion in Inventors' Commercialization Decisions", Journal of Economics and Management Strategy, 2010, vol. 19, n° 4, pp. 863-888 (in coll. with K. Simons).
"Calibration Accuracy of a Judgmental Process that Predicts the Commercial Success of New Product Ideas", Journal of Behavioral Decision Making, October 2007, vol. 20, n° 4, pp. 381-403 (in coll. with D. Koehler).
"Inventor Perseverance after Being Told to Quit: The Role of Cognitive Biases", Journal of Behavioral Decision Making, July 2007, vol. 20, n° 3, pp. 253-272 (in coll. with S.A. Jeffrey, G. Adomdza).
"The Effectiveness of Simple Decision Heuristics: Forecasting Commercial Success for Early-Stage Ventures", Management Science, March 2006, vol. 52, n° 3, pp. 395-409 (in coll. with S. Elhedhli).
"Opportunity Knocks", Research Policy, November 2005, vol. 34, n° 9, pp. 1404-1418 (in coll. with K. Dahlin).
"Predictors of the Survival of Innovations", Journal of Product Innovation Management, Juillet 2005, vol. 22, n° 4, pp. 322-335 (in coll. with J. Michela).
"The Winner's Curse of Human Capital", Small Business Economics, 2005, vol. 24, n° 1, pp. 63-78 (in coll. with I. Bernhardt).
"Key Success Factors for Technological Entrepreneurs R&D Projects", IEEE Transactions on Engineering Management, 2004, vol. 51, n° 3, pp. 314-321.
"Sunk Costs and the Depth and Probability of Technology Adoption", Journal of Industrial Economics, September 2004, vol. 52, n° 3, pp. 381-399.
"Assessing the Commercial Viability of New Ventures", Canadian Investment Review, 2003, vol. 16, n° 1, pp. 18-25.
"How to Deal with Missing Categorical Data: Test of a Simple Bayesian Method", Organizational Research Methods, July 2003, vol. 6, n° 3, pp. 309-327 (in coll. with G. Chen).
"Start-Up Financing, Owner Characteristics and Survival", Journal of Economics and Business, July-August 2003, vol. 55, n° 4, pp. 303-320 (in coll. with I. Bernhardt).
"The Return to Independent Invention: Evidence of Risk Seeking, Extreme Optimism or Skewness-Loving?", Economic Journal, January 2003, vol. 484, n° 113, pp. 226-239.
"Non-Capital Investment Costs and the Adoption of CAD and CNC in the U.S. metalworking Industries", RAND Journal of Economics, Winter 2002, vol. 33, n° 4, pp. 672-688.
"Profitable Advice: The Value of Information Provided by Canadas Inventors Assistance Program", Economics of Innovation and New Technology, 2001, vol. 10, n° 1, pp. 45-72 (in coll. with Y. Gerchak).
"Calculating the Expectation and Variance of the Present Value for a Random Profit Stream of Uncertain Duration", Engineering and Process Economics, 2000, vol. 45, n° 4, pp. 339-349 (in coll. with Y. Gerchak).
"The Social Rate of Return to Canadas Inventors Assistance Program", Engineering and Process Economics, 1999, vol. 44, n° 4, pp. 348-61 (in coll. with I. Bernhardt).
"Basic Statistics on the Success Rate and Profits for Independent Inventors", Entrepreneurship: Theory and Practice, 1998, vol. 23, n° 2, pp. 41-48.
"The Effect of Management and Social Interaction on the Intra-Firm Diffusion of Electronic Mail Systems", IEEE Transactions on Engineering Management, 1995, vol. 42, n° 4, pp. 319-331.
Chapters in Edited Books
"The Economic Returns to Entrepreneurship - Implications for Stimulating Entrepreneurship", in IZA World of Labor, A. Kritikos (Ed.), Bloomsbury Press.
"The Returns to Entrepreneurship", in The Oxford Handbook of Entrepreneurial Finance, D. Cummins (ed.), Oxford University Press, 2012, 45-108.
"Universities, Entrepreneurship and Regional Local Development", in Handbook of Research on Entrepreneurship and Regional Development, M. Fritsch (ed.), Edward Elgar Publishing, 2011, 252-333 (in coll. with N. BAZZAZIAN).
"Computer Aided Design", in Computer Integrated Manufacturing, The past, the present and the future, R. U. Ayres, W. Haywood, M. E. Merchant, J. Ranta, J. Warnecke (eds.), Chapman & Hall, 1992, 83-96.
"The International Diffusion of Computer Aided Design", in Computer Integrated Manufacturing Technologies; Models, case studies and forecasts of diffusion, R.U. Ayres, W. Haywood, I. Tchijov (eds.), Chapman & Hall, 1992, 171-196.
"Appendix: Invention Quality and Entrepreneurial Earnings: The Role of Prior Employment Variety", Cahier de Recherche du Groupe HEC, 2016 (in coll. with K. YONG).
"Invention Quality and Entrepreneurial Earnings: The Role of Prior Employment Variety", Cahier de Recherche du Groupe HEC, 2016 (in coll. with K. YONG).
"Public Policy to Promote Entrepreneurship: A Call to Arms", Cahier de Recherche du Groupe HEC, 2016 (in coll. with Z. ACS, D. AUDRETSCH, D. ROBINSON).
"The Effects of a Training Program to Encourage Social Entrepreneurship", Cahier de Recherche du Groupe HEC, 2016 (in coll. with F. HOOS).
"Academic Entrepreneurship: Bayh-Dole versus the 'Professor's Privilege'", Cahier de Recherche du Groupe HEC, 2015 (in coll. with S. BRAGUINSKY, P. BRAUNERHJELM, A. BROSTROM).
"Classification Models Via Tabu Search: An Application to Early Stage Venture Classification", Cahier de Recherche du Groupe HEC, 2015 (in coll. with S. ELHEDHLI).
"Seeking the Roots of Entrepreneurship: Insights from Behavioral Economics", Cahier de Recherche du Groupe HEC, 2015 (in coll. with H. HERZ, R. NANDA, R. WEBER).
"Detecting Heterogeneous Risk Attitudes with Mixed Gambles", Cahier de Recherche du Groupe HEC, 2014 (in coll. with L. SANTOS PINTO, A. BRUHIN, J. MATA).
Employment Date: 2008
Main courses taught at HEC
High Tech Entrepreneurship
1994 Ph.D. , Carnegie Mellon University, USA.
1989 Licentiate of Technology, Chalmers University of Technology, Sweden.
1986 Master of Science, Chalmers University of Technology, Sweden.
Academic responsibilities at HEC
2015- Professor, Strategy and Business Policy.
2008- Member, GREGHEC (CNRS).
2008-2014 Associate Professor.
External academic responsibilities
2006-2008 Cross-appointed Associate Professor, Department of Health Policy, Management and Evaluation, University of Toronto, Department of Health Policy, Management and Evaluation, University of Toronto.
2003-2008 Associate Professor, Rotman School of Management, University of Toronto.
2001-2002 Visiting Professor, Queensland University of Technology.
2001-2003 Associate Professor, University of Waterloo.
2001-2001 Visiting Professor, Jönköping International Business School.
2001-2001 Visiting Professor, Rotman School of Management, University of Toronto.
2000-2001 Tenured , University of Waterloo.
1998-1998 Visiting Scientist, International Institute for Applied Systems Analysis.
1997-2000 Research Associate, Carnegie Mellon Census Research Data Center, The Heinz School of Public Policy and Management, Carnegie Mellon University.
1996-1996 Research Associate, Center for Economic Studies, US Bureau of the Census.
1995-1996 Affiliate Professor, 2Graduate School of Industrial Administration, Carnegie Mellon University.
1995-2001 Assistant Professor, Department of Management Sciences, University of Waterloo.
1994-1995 Lecturer, Department of Management Sciences, University of Waterloo.
1994-1994 Lecturer, Graduate School of Industrial Administration, Carnegie Mellon University.
Membership in Academic or Professional Organisation
Member, American Economic Association.
Member of selection committee, Canadian Young Entrepreneur Award.
mai 2015- Membre du Comité Exécutif du Workshop 2015 de SEI (Strategy, Entrepreneurship and Innovation).
2014- Advisory Editor, Research Policy.
2011- Associate Editor, Industrial and Corporate Change.
janvier 2011-janvier 2013 Associate Editor, European Management Review.
2004- Member Editorial Board, IEEE Transactions on Engineering Management.
janvier 2002-janvier 2005 Member, Editorial Board, Credit Risk international.
2001- Chief Academic Review Officer, TIM Division, Administrative Sciences Association of Canada.
Organizer, 5th HEC Workshop on Entrepreneurship.
Organizer of HEC Workshop on Crowdfunding.
Organizer, HEC Workshop on Student Entrepreneurship.
Lead initiative to create a European Doctoral Consortium in the field of Strategy, Innovation and Entrepreneurship with inaugural event at HEC.
Organizer of HEC workshop on Academic Entrepreneurship.
Organizer of HEC workshop on Entrepreneurial Entry.
Co-Organizer, Mathematical Approaches to Credit Risk Management” held at the Banff International Research Station for Mathematical Innovation and Discovery .
Awards & Honors
2003 Best Paper: Administrative Association of Canada, Technology and Innovation Management Division..
2001 National Award: 2nd place - Most Promising Technology, Awarded by the Innovations Foundation, University of Toronto.
1999 Best Paper, Runner Up: Canadian Council on Small Business and Entrepreneurship Conference.
1995 2000 - National Award: NSERC/SSHRC/CIBC Associate Chair in Management of Technological Change..
1991 National Scholarship: The Sweden-America Foundation..
1991 1994 - National Scholarship: Jan Wallander and Tom Hedelius Foundation for Research in the Social Sciences.
1989 Scholarship: The Institute for Management of Innovation and Technology, Sweden, 10 year Jubilee Stipend..
1988 Scholarship: Arvid Lindmans Memorial Foundation.
1988 National Scholarship: The Swedish Natural Science Research Council..
management of innovation