Photo of David Hsu

David Hsu

Richard A. Sapp Professor

Professor of Management

Research Interests: intellectual property rights, start-up innovation, strategies for commercializing technological innovation, venture capital

Links: CV, Personal Website

Contact Information

Address: 2028 SH-DH, 3620 Locust Walk, Philadelphia, PA 19104
Email: dhsu@wharton.upenn.edu
Office: (215) 746-0125
Office Fax: (215) 898-0401

Overview

David Hsu is the Richard A. Sapp Professor and a Professor of Management (with tenure) at the Wharton School, University of Pennsylvania. He graduated from Stanford University with undergraduate majors in economics and political science. After a few years working in industry, he received his master’s degree in public policy from Harvard University, followed by his Ph.D. in management from the Massachusetts Institute of Technology.

Hsu’s research interests are in entrepreneurial innovation and management. Within that domain, he has investigated topics such as intellectual property management, start-up innovation, technology commercialization strategy, and venture capital. His research has appeared in leading journals such as Journal of Finance, Management Science, RAND Journal of Economics, and Research Policy. He serves as an associate editor of the Entrepreneurship and Innovation department of Management Science. In 2008, Hsu was awarded an Alfred P. Sloan Foundation Industry Studies Fellowship. At Wharton, he teaches two MBA electives, Entrepreneurship and Technology Strategy. At Penn, Hsu is Associate Faculty Director of the Weiss Tech House, which encourages and supports students in the creation, development, and commercialization of innovative technologies.

Research


  • M. Marx, David Hsu (Forthcoming), Strategic ‘Switchbacks’: Dynamic Commercialization Strategies for Technology Entrepreneurs.  
  • O. Bengtsson, David Hsu (2015), Ethnic Matching in the U.S. Venture Capital Market, Journal of Business Venturing, 30 (2), 338 - 354.  
  • V. Aggarwal, David Hsu (2014), Entrepreneurial Exits and Innovation, Management Science, 60 (4), 867 - 887.  
  • David Hsu, K. Lim (2014), Knowledge Brokering and Organizational Innovation: Founder Imprinting Effects, Organization Science, 25 (4), 1134 - 1153.  
  • C. Eesley, David Hsu, E. B. Roberts (2014), The Contingent Effects of Top Management Teams on Venture Performance: Aligning Founding Team Composition with Innovation Strategy and Commercialization Environment, Strategic Management Journal, 35 (12), 1798 - 1817.  
  • M. Marx, J. Gans, David Hsu (2014), Dynamic Commercialization Strategies for Disruptive Technologies: Evidence from the Speech Recognition Industry, Management Science, 60 (12), 3103 - 3123.  
  • Alessandro Marino, David Hsu (Working), Organizational Routines Development and Venture Performance.
  • Vikas A. Aggarwal, David Hsu, Andy Wu (Under Review), R&D Production Team Organization and Firm-Level Innovation.  Abstract
  • David Hsu, R. Ziedonis (2013), Resources as Dual Sources of Advantage: Implications for Valuing Entrepreneurial-Firm Patents, Strategic Management Journal, 34 (7), 761 - 781.  
  • O. Bengtsson, David Hsu (2010), How Do Venture Capital Partners Match with Startup Founders?, Management Department Working Paper  Abstract
  • David Hsu, A. Marino (2010), Organizational Routines Development and New Venture Performance, Management Department Working Paper  Abstract
  • C. Eesley, David Hsu, E. B. Roberts (2009), Bringing Entrepreneurial Ideas to Life, Management Department Working Paper  Abstract
  • V. Aggarwal, David Hsu (2009), Modes of Cooperative R&D Commercialization by Start-ups, Strategic Management Journal, 30: 835-864.    Abstract
  • David Hsu, K. Lim (2009), The Antecedents and Innovation Consequences of Organizational Knowledge Brokering Capability, Management Department Working Paper  Abstract
  • David Hsu, "Technology-Based Entrepreneurship". In Handbook of Technology and Innovation Management, Wiley, UK, edited by Scott Shane, (2008).  
  • J. Gans, David Hsu, S. Stern (2008), The Impact of Uncertain Intellectual Property Rights on the Market for Ideas: Evidence from Patent Grant Delays, Management Science, 54: 982-997.    Abstract
  • David Hsu, R. Ziedonis (2008), Patents as Quality Signals for Entrepreneurial Ventures, Academy of Management Best Paper Proceedings  
  • David Hsu (2007), Experienced Entrepreneurial Founders, Organizational Capital, and Venture Capital Funding, Research Policy, 36: 722-741.    Abstract
  • David Hsu, E. Roberts, C. Eesley (2007), Entrepreneurs from Technology-based Universities: Evidence from MIT, Research Policy, 36: 768-788.    Abstract
  • David Hsu (2006), Venture Capitalists and Cooperative Start-up Commercialization Strategy, Management Science, 52 (2), 204 - 219.  
  • David Hsu, M. Kenney (2005), Organizing Venture Capital: The Rise and Demise of American Research and Development Corporation, 1946-1973, Industrial and Corporate Change, 14: 579-616.    Abstract
  • David Hsu (2004), What Do Entrepreneurs Pay for Venture Capital Affiliation?, Journal of Finance, 59: 1805-1844.    Abstract
  • David Hsu (2004), Venture Capitalists and Cooperative Start-up Commercialization Strategy, Academy of Management Best Paper Proceedings  
  • J. Gans, David Hsu, S. Stern (2002), When Does Start-up Innovation Spur the Gale of Creative Destruction?, RAND Journal of Economics, 33: 571-586.  
  • David Hsu, T. Bernstein (1997), Managing the University Technology Licensing Process: Findings from Case Studies, Journal of the Association of University Technology Managers, 9, 1 - 33.  

In The News

Knowledge @ Wharton

Courses

Current

  • MGMT611 - Managing Established Enterprises

    The management of large, established enterprises creates a range of multi-facet challenges for the general manager. A general manager needs to understand the internal workings of a firm, how to assess and create a strategy,an how to take into account increasing, globalization. While these issues are distinct, they are very much intertwined. As a result, this course will provide you with an integrated view of these challenges and show you that successful management in the 21st century requires a combination of insights drawn from economics, sociology, psychology and political economy.

    MGMT611920 

  • MGMT612 - Management of Emerging Enterprises

    The management of emerging enterprises - new, small, entrepreneurial organizations - creates a range of multi-faceted challenges for the entrepreneur, whether the founder (and founding team) or the first generation of management. Establishing an emerging organization's unique business model or value proposition (not to mention its survival) is often the overriding preoccupation, but even in a new, small organization, managers need to under- stand how to develop the internal workings of a new firm, how to assess and create a strategy, and how to take into account ever-increasing globalization. While these issues are distinct, they are very much intertwined. As a result, this course will provide you with an integrated view of these challenges and show you that successful management in the 21st century requires a combination of insights drawn from economics, sociology, psychology and political economy. The course has three main parts. The first major part of the course will deal with fundamental issues of strategy, examining issues central to the long- and short-term competitive position of an enterprise.

    The second part of the course stresses the fact that organizational life is built around a complex interplay of social forces. We will study how to develop and implement organizational designs and human resource systems that achieve competitive advantage through the management of people. The third part of the course stresses the deep and persistent cross-national differences in economic, political and social institutions that affect the strategy, social structure, performance and value of organizations. The course culminates in the Wharton Global Summit when we examine the general management challenges posed by a current crisis (e.g., Euro 2013?) or in a rapidly growing frontier market (e.g., Imbalances in China).

    MGMT612921 

  • MGMT801 - Entrepreneurship

    This is the foundation course in the Entrepreneurial Management program. The purpose of this course is to explore the many dimensions of new venture creation and growth. While most of the examples in class will be drawn from new venture formation, the principles also apply to entrepreneurship in corporate settings and to non-profit entrepreneurship. We will be concerned with content and process questions as well as with formulation and implementation issues that relate to conceptualizing, developing and managing successful new ventures. The emphasis in this course is on applying and synthesizing concepts and techniques from functional areas of strategic management, finance, accounting, managerial economics, marketing, operations management, and organizational behavior in the context of new venture development. The class serves as both a stand alone class and as a preparatory course to those interested in writing and implementing a business plan (the subject of the semester-long course, MGMT 806).

    Format: Lectures and case discussions

    Requirements: Class participation, interim assignments, final project

    MGMT801701 

    MGMT801751 

Previous

  • MGMT612 - Management of Emerging Enterprises

    The management of emerging enterprises - new, small, entrepreneurial organizations - creates a range of multi-faceted challenges for the entrepreneur, whether the founder (and founding team) or the first generation of management. Establishing an emerging organization's unique business model or value proposition (not to mention its survival) is often the overriding preoccupation, but even in a new, small organization, managers need to under- stand how to develop the internal workings of a new firm, how to assess and create a strategy, and how to take into account ever-increasing globalization. While these issues are distinct, they are very much intertwined. As a result, this course will provide you with an integrated view of these challenges and show you that successful management in the 21st century requires a combination of insights drawn from economics, sociology, psychology and political economy. The course has three main parts. The first major part of the course will deal with fundamental issues of strategy, examining issues central to the long- and short-term competitive position of an enterprise.

  • MGMT801 - Entrepreneurship

    This is the foundation course in the Entrepreneurial Management program. The purpose of this course is to explore the many dimensions of new venture creation and growth. While most of the examples in class will be drawn from new venture formation, the principles also apply to entrepreneurship in corporate settings and to non-profit entrepreneurship. We will be concerned with content and process questions as well as with formulation and implementation issues that relate to conceptualizing, developing and managing successful new ventures. The emphasis in this course is on applying and synthesizing concepts and techniques from functional areas of strategic management, finance, accounting, managerial economics, marketing, operations management, and organizational behavior in the context of new venture development. The class serves as both a stand alone class and as a preparatory course to those interested in writing and implementing a business plan (the subject of the semester-long course, MGMT 806).

  • MGMT893 - Advanced Study Project for Entrepreneurial Management

  • MGMT932 - Pro-Seminar in Management

    The purpose of this quarter course is to continue to explore key concepts and research programs in the field of micro-organizational behavior that we coveredin MGMT 951 and MGMT 961. Building on this work, we will cover a series of advanced topics in micro Organizational Behavior using a blend of classic and contemporary literature so that we can appreciate the prevailing theories and findings in various areas of micro-organizational behavior.