Research

Dissertation

Dependence Reimagined: Extending and Enriching Conceptualizations of Dependence Between Directors and Their Firm

Data collection and writing stage; Job Market Paper: Boardroom Compensation Tradeoffs: Financial Dependence and Director Behavior in M&A Negotiations

ABSTRACT:
This dissertation, titled Dependence Reimagined: Extending and Enriching Conceptualizations of Dependence Between Directors and Their Firm addresses a central yet under-theorized construct in organizational governance: dependence. While widely acknowledged across various literatures as a critical organizing force, the treatment of dependence in the corporate governance literature, particularly in the context of boards of directors, remains narrow and conceptually impoverished.

The prevailing view treats board independence in binary terms, usually defined by whether a director is employed by the firm, and conflates independence with effectiveness in monitoring. However, this approach neglects the nuanced and multi-faceted nature of director dependence that manifests through financial reliance on board compensation and the social capital gained from prestigious affiliations. Rooted in the interdisciplinary foundations of agency theory and resource dependence theory, this dissertation develops a richer conceptual framework to examine how these non-employment-based dependencies influence director behavior and, ultimately, firm outcomes. The project is structured around three empirical chapters, each using a comprehensive panel dataset of S&P 1500 firms (2010–2024) to assess how financial and social dependence alter the roles of directors as monitors, advisors, and strategic contributors. This research not only bridges long-standing theoretical gaps but also offers practical insights for board composition, regulatory standards, and stakeholder expectations. By problematizing a long-accepted governance assumption, that independent directors are necessarily superior, this work advances a behavioral and context-sensitive understanding of corporate oversight and resource provision, with potential implications for future governance reforms.

Resource Orchestration’s Role in the Implementation of Mergers and Acquisitions

Sirmon DG, Hitt MA, McClellan, B.

Accepted at Organizational Dynamics

Constructing Entrepreneurial Engagements Under the Extreme Uncertainty of Societal Grand Challenges

The Imagined Deemed Possible: How Entrepreneurs Shape Possibilities for Addressing Societal Grand Challenges through Entrepreneurial Means

Shaping Strategies in the Electric Vehicle Industry

Weiss, T., Rindova, V., McClellan, B.

Kotha, S.; McClellan, B; Rindova, V.

Preparing for Submission

2nd Round R&R at Academy of Management Journal

Reject & Resubmit at Strategic Management Journal

Research Interests

Corporate Governance - Boards of Directors
Mergers & Acquisitions
Entrepreneurship – scalability of organizations, resource mobilization and acquisition
Technology Entrepreneurship – strategic actions in uncertain conditions
Business Model Reemergence

My research examines how governance systems and managerial decision-making unfold under conditions of uncertainty, interdependence, and strategic change. Anchored in the domains of corporate governance, mergers and acquisitions (M&A), and entrepreneurship, my work seeks to uncover how formal and informal power structures, particularly those within boards of directors, shape strategic outcomes when firms pursue high-stakes or future-oriented initiatives.

My dissertation, Dependence Reimagined, explores how multidimensional dependence between directors and their firms, including social, financial, and career-based ties, shapes directors’ behavior in M&A transactions. This work contributes to behavioral governance by offering a more nuanced lens on director motivation and agency beyond traditional independence models. By analyzing how forms of dependence influence acquisition premiums, I aim to reconcile inconsistencies in empirical findings and clarify the behavioral foundations of governance effectiveness.

Beyond boards and M&A, I am interested in how entrepreneurs and executives navigate uncertainty through imagination and influence. A related stream of research explores how entrepreneurial actors engage in "strategic shaping", or framing futures, influencing stakeholders, and constructing ecosystems to address grand challenges. This aligns with my interest in resource orchestration looking at how firms structure, bundle, and leverage assets across corporate and entrepreneurial contexts.

My research combines rigorous quantitative methods with a deep interest in theory-building. I strive to produce work that is not only theoretically rich and contributes to existing literature, but practically resonant, offering actionable insights for firms navigating strategic complexity and transformation.