Visiting Fellow, 2010-2011, Saïd Business School, University of Oxford
Associate Professor, Carlson School of Management, University of Minnesota
Affiliated Faculty Member, Law School, University of Minnesota
Director, Center for Integrative Leadership, University of Minnesota

Courses taught
MBA and Undergraduate, International Business
MBA and MA, Technology and Intellectual Property Management
MBA and MA, Public-Private Organizational Management and Leadership
Executive Education, Risk and Investment in Emerging Markets

Overview
Paul Vaaler is a Visiting Fellow at Saïd Business School.  He is on sabbatic leave from the University of Minnesota where he is Associate Professor at the Carlson School of Management, Affiliated Faculty Member at the Law School, and Director of the Center for Integrative Leadership.  He teaches strategic management and international business courses in MBA, MA and Undergraduate programmes.

His international business research focuses on risk and foreign investment in developing countries.  His strategic management research focuses on business performance patterns in volatile industries.  He is the author, co-author and editor of books, book chapters and articles appearing in Academy of Management Journal, Journal of International Business Studies, Journal of International Money and Finance, Organization Science, Review of Development Economics, Strategic Management Journal and other management and economics journals.  He serves on the AMJ and JIBS editorial review boards.
 
He received his BA from Carleton College, his MA from the University of Oxford where he studied as a Rhodes Scholar, his JD from Harvard Law School, and his PhD from the University of Minnesota.  He taught previously at the Fletcher School of Law & Diplomacy at Tufts University and at the College of Business at the University of Illinois.

 

 

 

Research interests
Paul Vaaler’s research interests span strategic management and international business.  He studies risk and investment in developing countries with special emphasis on the impact of elections and political change on the risk and investment behaviour of foreign investing firms and individuals.  He also studies business performance patterns in volatile industries with special emphasis on understanding long-term trends in the performance stability of businesses active in purportedly “hypercompetitive” or “dynamically competitive” industries.  While visiting Saïd in 2010-2011, he will be working on several research projects, including a book-length manuscript on political business cycles and foreign investment in developing democracies.

Working papers
Vaaler, P and McNamara, G, Political and Market Rivalry in Emerging Market Risk Assessment.

Vaaler, P and Bernhard, W, How Do International Bankers Vote in Developing Country Elections?

Vaaler, P, Developing Country Immigrant Remittances and the Home Country Venture Investing Environment.

Vaaler, P, Legal System and Rule of Law Effects on US Cross-Listing to Bond by Emerging Market Firms.

Journal articles (Since 2000):
Vaaler, P and Bowie, N (forthcoming) Transactions Costs Economics, Knowledge Transfer and Universal Ethical Business Norms in Multinational Enterprises, International Journal of Strategic Change Management.

Mahoney, J, Bucheli, M and Vaaler, P (forthcoming) Chandler’s Living History: The Visible Hand of Vertical Integration in 19th Century America Viewed Under a 21st Century Transaction Costs Economics Lens, Journal of Management Studies.

Vaaler, P and McNamara, G (2010) Are Technology-Intensive Industries More Dynamically Competitive? No and Yes, Organization Science 21(1): 271-289.

Vaaler, P and McNamara, G (2010) Changing Corporate Effects on US Business Performance Since the 1970s, International Journal of Strategic Change Management, 1(4): 377-400.

Vaaler, P and Schrage, B (2009) Residual State Ownership, Policy Stability and Financial Performance Following Strategic Decisions by Privatizing Telecoms, Journal of International Business Studies 40(4): 621-641.

Vaaler, P (2008) How Do MNCs Vote in Developing Country Elections?, Academy of Management Journal 51(1): 21-44.

Vaaler, P, James, B and Aguilera, R (2008) Risk and Capital Structure in Asian Project Finance, Asia Pacific Journal of Management 25(1): 25-50.

Vaaler, P, Schrage, B and Block, S (2006) Elections, Opportunism, Partisanship and Sovereign Ratings in Developing Countries, Review of Development Economics 10(1): 154-170.

McNamara, G, Aime, F and Vaaler, P (2005) Is Performance Driven by Industry- or Firm-Specific Factors? A Response to Hawawini, Subramanian and Verdin, Strategic Management Journal 26(11): 1075-1081.

Vaaler, P, Schrage, B and Block, S (2005) Counting the Investor Vote: Political Business Cycle Effects on Sovereign Bond Spreads in Developing Countries, Journal of International Business Studies, 36(1): 62-88.

Vaaler, P and McNamara, G (2004) Crisis and Competition in Expert Organizational Decision Making: Credit Rating Agencies and Their Response to Turbulence in Emerging Economies, Organization Science, 15(6): 687-703.

Block, S and Vaaler, P (2004) The Price of Democracy: Sovereign Risk Ratings, Bond Spreads and Political Business Cycles in Developing Countries, Journal of International Money and Finance, 23(3): 917-946.

McNamara, G, Vaaler, P and Devers, C (2003) Same as it Ever Was: The Search for Evidence of Increasing Hypercompetition, Strategic Management Journal, 24(3): 261-278.

Jacque, L and Vaaler, P (2001) The International Control Conundrum with Exchange Risk: An EVA Framework, Journal of International Business Studies, 32(4): 813-832.

Vaaler, P and McKnight, L (2000) Creative Destruction in the Internet Economy: The Internet’s Impact on Enterprise Valuation, Communications & Strategies, 40(4): 193-210.

McNamara, G and Vaaler, P (2000) The Influence of Competitive Positioning and Rivalry on Emerging Market Risk Assessment, Journal of International Business Studies, 31(2): 337-348.

Books (Since 2000):
McKnight, L, Vaaler, P and Katz, R (Eds) (2001) Creative Destruction: Business Survival and Success in the Global Internet Economy, MIT Press.  Japanese edition (2003). Chinese edition (2007). 

Jacque, L and Vaaler, P (Eds) (2001) Financial Innovations and the Welfare of Nations:  How Cross-Border Innovations Nurture Emerging Capital Markets, Kluwer Academic Publishers.

Book chapters (Since 2000):
Vaaler, P and McNamara, G (forthcoming) How and Why Credit Assessors ‘Get it Wrong’ When Judging the Risk of Borrowers: Past and Present Evidence at Home and Abroad, in Lawless, R and Brubaker, R (Eds), A Debtor’s World, Oxford University Press.

Vaaler, P, Aguilera, R and Flores, R (2007) New Methods for Ex Post Evaluation of Regional Grouping Schemes in International Business Research: A Simulated Annealing Approach, in Ketchen, D and Bergh, D (Eds), Research Methodology in Strategy and Management (pp. 161-190), Elsevier Science Publishers.

Aguilera, R, Flores, R and Vaaler, P (2007) Is It All a Matter of Grouping? Examining the Regional Effect in Global Strategy, in Tallman, S (Ed),  International Strategic Management: A New Generation (209-228), Edward Elgar Publishers.

Vaaler, P and Schrage, B (2006) Home Country Governance Quality and the “Bonding” Hypothesis: Evidence From Industrialized, Emerging-Market and Less-Developed Countries,in Vachani, S (Ed), Transformations in Global Governance: Implications for Multinationals & Other Stakeholders (pp. 264-297), Edward Elgar Publishers.

 Vaaler, P, McKnight, L, Schrage, B and Katz, L (2003) Innovation and Creative Destruction in Emerging Markets: The Impact of State Commitments on Privatizing Telecoms, in Cranor, L and Wildman, S (Eds), Rethinking Rights and Regulations: Institutional Responses to New Communication Technologies (pp. 367-396), MIT Press.

McNamara, G and Vaaler, P (2002) Strategic Decision-Making in the Entrepreneurial Millennium: Competition, Crisis and ‘Expert’ Risk Assessment of Emerging Market Sovereigns, in Hitt, M, Amit, R, Lucier, C and Nixon, R (Eds), Creating Value: Winners in the New Business Environment (pp. 188-212), Blackwell.

 Vaaler, P (2001) A Tale of Two Citis: Understanding the Paradox of Product Innovation and Imitation Strategies in Multinational Financial Institutions, in Jacque, L and Vaaler, P (Eds), Financial Innovations and the Welfare of Nations (pp. 223-246), Kluwer Academic Publishers.

Vaaler, P (2001) Creating and Destroying Shareholder Value Across Borders, in McKnight, L, Vaaler, P and Katz, R (Eds), Creative Destruction (pp. 145-166) MIT Press.

McKnight, L, Vaaler, P and Katz, L (2001) Introduction to Creative Destruction, in McKnight, L, Vaaler, P and Katz, R (Eds), Creative Destruction (pp. 3-20), MIT Press.

 

 

 

 

 

Department of Strategic Management & Organization
Carlson School of Management
University of Minnesota
3-424 CarlSMgmt
Minneapolis, MN 55455
Tel (612) 625-4951
Fax (612) 626-1316
Email vaal0001@umn.edu
Internet http://www.carlsonschool.umn.edu/faculty-research/faculty.aspx?x500=vaal0001