Bio

My research focuses on the influence of the external environment on entrepreneurship. Specifically, I investigate the types of environments that encourage the founding of high growth, technology-based firms. Although I build on previous literature that explains why entrepreneurs are successful on the basis of individual characteristics, network ties, and strategy, my major contribution is to demonstrate that institutions matter. I show that effective institutional change influences who starts firms, not just how many firms are started.

Studying the implications of institutional change for entrepreneurship is difficult because it requires that institutions vary while other aspects of the environment remain constant. Thus, I have repeatedly studied entrepreneurship in a single country (China, Japan, and the U.S.) before and after a major institutional change that has intentionally or unintentionally altered the landscape for people who seek to found new firms.

My research is divided into three streams: (1) how formal institutions (policies, legal structures and regulations) influence entrepreneurship, (2) how informal institutions (accepted practices and norms) shape entrepreneurial opportunities, (3) how the environments of particular industries influence the success of entrepreneurial teams.

Academic Appointments

  • Assistant Professor, Management Science and Engineering

Administrative Appointments

  • Advisory Board, United States Department of State - Global Innovation through Science and Technology (GIST Network) (2014 - Present)
  • Visiting Scholar Committee, Stanford MS&E (2010 - 2016)

Honors & Awards

  • Best Paper Proceedings, Academy of Management (2005, 2006, 2010, 2012)
  • Dissertation Fellowship Award, Kauffman Foundation (2007)
  • Best Dissertation Award Winner (Business Policy and Strategy Division), Academy of Management (2010)
  • Technology and Innovation Management, IEEE International (2011)
  • Lillie Award, Stanford University (2011, 2012)
  • Batten Institute Fellow, University of Virginia (UVA) Darden School of Business (2012)
  • Research Fund for International Young Scientists, National Natural Science Foundation of China (NSFC) (2012)
  • Kauffman-Nesta Research Grant winner - Randomized Controlled Trials in Entrepreneurship, Kauffman-NESTA (2014)
  • Faculty Affiliate, Stanford Center for International Development (SCID) (2014-present)
  • Richard Schulze Inaugural Distinguished Professorship Award, Richard Schulze Foundation (2015)

Boards, Advisory Committees, Professional Organizations

  • Editorial Board, Strategic Management Journal (2015 - Present)
  • Director, Startup Chile (2012 - Present)
  • Member, Academy of Management (2005 - Present)

Professional Education

  • PhD, MIT, Sloan School of Management (2009)
  • BS, Duke University, Biological Basis of Behavior (2002)

Contact

Links

Current Research and Scholarly Interests

My research focuses on the influence of the external environment on entrepreneurship. Specifically, I investigate the types of environments that encourage the founding of high growth, technology-based firms. Although I build on previous literature that explains why entrepreneurs are successful on the basis of individual characteristics, network ties, and strategy, my major contribution is to demonstrate that institutions matter. I show that effective institutional change influences who starts firms, not just how many firms are started.

Studying the implications of institutional change for entrepreneurship is difficult because it requires that institutions vary while other aspects of the environment remain constant. Thus, I have repeatedly studied entrepreneurship in a single country (China, Japan, and the U.S.) before and after a major institutional change that has intentionally or unintentionally altered the landscape for people who seek to found new firms.
My research is divided into three streams: (1) how formal institutions (policies, legal structures and regulations) influence entrepreneurship, (2) how informal institutions (accepted practices and norms) shape entrepreneurial opportunities, (3) how the environments of particular industries influence the success of entrepreneurial teams.

In 2015 I was selected for the inaugural Schulze Foundation Distinguished Professorship Award from Richard Schulze (founder, Best Buy). In 2012, I was winner of a prestigious and highly selective award from the National Natural Science Foundation of China (NSFC) 2012 Research Fund for International Young Scientists. I also received the 2010 Best Dissertation Award in the Business Policy and Strategy Division of the Academy of Management and am recipient of the 2007 Ewing Marion Kauffman Foundation’s Dissertation Fellowship award. My work has been generously funded by Sequoia Capital, Sohu.com, the Kauffman Foundation, the MIT Entrepreneurship Center and Stanford Technology Ventures Program (STVP).

Prior to returning to school, I worked as a research assistant at the Duke University Medical Center, publishing in medical journals and textbooks on cognition in schizophrenia and fMRI neuro-imaging studies. In addition, I have founded three firms and worked in two venture capital firms, focusing on education and life sciences sectors.

Projects

  • Does Institutional Change in Universities Influence High-Tech Entrepreneurship?: Evidence from China’s Project 985, Stanford University (2/1/2013 - Present)

    T
    his paper contributes to institutional theory on cognitive and normative institutional change targeted at altering beliefs,
    behaviors, and ultimately firm performance. Prior work emphasizes institutional changes where the ideas and beliefs
    originate from those within the institutional context. Under examined are cases of institutional changes in beliefs and
    behaviors imposed from outside of the context, which may result in inconsistencies among cognitive, normative, and
    regulatory institutional pillars. Project 985 was a program implemented by the Chinese government that provided funding for
    a set of universities to build new research centers. We found that graduates of these universities subsequently expressed
    greater beliefs in innovation and founded more high-tech ventures, but that entrepreneurs influenced by the reform were not as
    financially successful as entrepreneurs who founded firms before the reform or from non-985 universities. We explain this
    surprising finding as caused by the fact that Project 985 was institutionally inconsistent with China’s broader institutional
    environment. An important implication is that institutional changes may alter beliefs and behavior, but they must be consistent
    with the broader institutional environment to improve firm performance.

    Location

    Beijing, China

    Collaborators

    • Delin Yang, Professor, Tsinghua University

    For More Information:

  • Startup Chile, Stanford University (2/1/2015 - Present)

    Location

    Santiago, Chile

    Collaborators

    • Michael Leatherbee, Assistant Professor, Universidad Catolica

    For More Information:

  • Failure IS an Option, Stanford University (2/1/2014 - Present)

    Do changes in the consequences of firm failure affect the mix of founding entrepreneurs and the performance of new ventures? We take advantage of a quasi-natural experiment in Japan in which changes to bankruptcy laws eased the social and regulatory consequences of closing a firm and find as follows: a) entrepreneurs with high human and social capital (i.e., those entrepreneurs who graduated from one of the top ten universities in Japan) declare bankruptcy more often than others, b) establish a greater proportion of new firms, and, c) new firm performance improves as entrepreneurs with high human and social capital become more likely to found higher-performing firms. Whereas prior research emphasizes that more lenient bankruptcy laws worsen economic performance by lowering entry barriers and attracting poor-performing firms, our research suggests that more lenient bankruptcy laws can stimulate venture formation among individuals with high human and social capital, leading to higher-performing firms. Overall, we find that reforms leading to more lenient bankruptcy laws encourage better – and not just more – entrepreneurs to found ventures.

    Location

    Tokyo, Japan

    Collaborators

    • Robert Eberhart, Assistant Professor, Santa Clara University

    For More Information:

  • ITRI - Stanford platform, ITRI (2/1/2015)

    On-going collaboration platform with ITRI in Taiwan.

    Location

    Hsinchu, Taiwan

    Collaborators

    • Steven Su, Executive Director, ITRI

2015-16 Courses

All Publications

  • Does Institutional Change in Universities Influence High-Tech Entrepreneurship? Evidence from China’s Project 985 Organization Science (forthcoming) Eesley, C. E., Li, J. B. 2016

    View details for DOI 10.1287/orsc.2015.1038

  • Through the Mud or in the Boardroom: Examining Activist Types and their Strategies in Targeting Firms for Social Change Strategic Management Journal Eesley, C., DeCelles, K., Lenox, M. 2015

    View details for DOI 10.1002/smj.2458

  • THE CONTINGENT EFFECTS OF TOP MANAGEMENT TEAMS ON VENTURE PERFORMANCE: ALIGNING FOUNDING TEAM COMPOSITION WITH INNOVATION STRATEGY AND COMMERCIALIZATION ENVIRONMENT STRATEGIC MANAGEMENT JOURNAL Eesley, C. E., Hsu, D. H., Roberts, E. B. 2014; 35 (12): 1798-1817

    View details for DOI 10.1002/smj.2183

    View details for Web of Science ID 000344327400005

  • Are You Experienced: When Does Talent vs. Experience Drive Entrepreneurial Performance Strategic Entrepreneurship Journal Eesley, C., E., Roberts, E., B. 2012; 6 (3): 207-219
  • Private Environmental Activism and the Selection and Response of Firm Targets. Journal of Economics Management and Strategy Lenox, M., Eesley, C., E. 2009; 18 (1): 45-73
  • Entrepreneurs from technology-based universities: Evidence from MIT Research Policy Hsu, D. H., Roberts, E. B., Eesley, C. E. 2007; 5 (36): 768-788
  • Firm Responses to Secondary Stakeholder Action Strategic Management Journal Eesley, C. E. 2006; 27 (8): 765-782

    View details for DOI 10.1002/smj.536

  • Entrepreneurship Education Comes of Age on Campus: The Challenges and Rewards of Bringing Entrepreneurship to Higher Education Ewing Marion Kauffman Research Paper Torrance, Wendy, E. F., Rauch, J., Aulet, W., Blum, L., Burke, B., D'Ambrosio, T., Eesley, C. E.
  • Impact: Stanford University's Economic Impact via Innovation and Entrepreneurship Eesley, Charles, E., Miller, William, F.
  • Entrepreneurship Education Comes of Age on Campus: The Challenges and Rewards of Bringing Entrepreneurship to Higher Education Torrance, W. E., Rauch, J., Aulet, W., Blum, L., Burke, B., D'Ambrosio, T., Eesley, C. E. 2013
  • Review of: Winds of Change: The Environmental Movement and the Global Development of the Wind Energy Industry Administrative Science Quarterly Eesley, C., E., Hannah, D., P. 2012; 57: 359-362
  • Neurocognitive Impairments Essentials of Schizophrenia Keefe, R., Eesley, C. E. American Psychiatric Publishing. Washington, DC, 2012.. 2012
  • Bringing Ideas to Life IEEE International Recent Advances in Technology and Innovation Management Eesley, C. E., Hsu, D., Roberts, E. B. Wily Publications. 2012: 40-60
  • Entrepreneurial Impact: The Role of MIT - An Updated Report Foundations and Trends in Entrepreneurship Roberts, E., B., Eesley, C., E. 2011; 7 (1-2): 1-149
  • Neurocognition in Schizophrenia Kaplan and Sadock's Comprehensive Textbook of Psychiatry Keefe, R., Eesley, C. E. edited by Sadock, B., Sadock, V. A., Ruiz, P. Baltimore, MD: Lippincott, Williams, & Wilkins. 2009
  • Implementing a Public Subsidy for Vaccines Pharmaceutical Innovation: Incentives, Competition, and Cost-Benefit Analysis in International Perspective Sloan, F. A., Eesley, C. E. edited by Sloan, F. A. New York: Cambridge University Press. 2007: 107-126
  • Governments as Insurers in Professional and Hospital Liability Insurance Markets Medical Malpractice and the U.S. Health Care System--New Century, Different Issues Sloan, F. A., Eesley, C. E. edited by Sage, W. M. New York: Cambridge University Press. 2006: 291-317
  • Defining a cognitive function decrement in schizophrenia Biological psychiatry Keefe, R. S., Eesley, C. E., Poe, M. P. 2005; 6 (57): 688-691