Mauro Guillen

Mauro Guillen
  • Dr. Felix Zandman Professor of International Management
  • Professor of Management
  • Anthony L. Davis Director, The Lauder Institute

Contact Information

  • office Address:

    212 Lauder-Fisher Hall
    256 South 37th Street
    Philadelphia, PA 19104

Research Interests: economic sociology, emerging multinational firms, globalization, international banking strategies, international political economy, multinational management, organizational theory

Links: CV, Personal Website, Wikipedia Entry, Career Highlights, Media Interviews, OP-EDs, Free Online Class, Download Guillen-Capron Shareholder Protections Index


Mauro F. Guillén is the Anthony L. Davis Director of the Joseph H. Lauder Institute at Penn, a research-and-teaching program on management and international relations. He holds the Zandman Endowed Professorship in International Management at the Wharton School. He received a PhD in sociology from Yale University and a Doctorate in political economy from the University of Oviedo in his native Spain.

He is a trustee of the Royal Foundation of Spain, known as the Fundación Princesa de Asturias, a member of the advisory board of the Escuela de Finanzas Aplicadas (Grupo Analistas), and serves on the World Economic Forum’s Global panel of experts.

He has won the Aspen Institute’s Faculty Pioneer Award. He is an Elected Fellow of the Sociological Research Association and of the Macro Organizational Behavior Society, a former Guggenheim and Fulbright Fellow and a Member in the Institute for Advanced Study in Princeton. In 2005 he won the IV Fundación Banco Herrero Prize, awarded annually to the best Spanish social scientist under the age of 40. He has delivered the Clarendon Lectures at Oxford University, the Otto Krause Memorial Lecture at the University of Johannesburg, and the Laurent Picard Distinguished Lecture at McGill University.

He has received a Wharton MBA Core Teaching Award, a Wharton Graduate Association Teaching Award, a Wharton Teaching Commitment and Curricular Innovation Award, the Gulf Publishing Company Best Paper Award of the Academy of Management, the W. Richard Scott Best Paper Award of the American Sociological Association, the Gustavus Myers Center Award for Outstanding Book on Human Rights, and the President’s Book Award of the Social Science History Association.

His current research deals with the internationalization of the firm, and with the impact of globalization on patterns of organization and on the diffusion of innovations and crises. His most recent books are Rude Awakening: Threats to the Global Liberal Order (2018), The Architecture of Collapse: The Global System in the Twenty-First Century (2016), Global Turning Points (2012), and Emerging Markets Rule (2012). He is also the author or co-author of The New Multinationals (2010), Green Products (2011), Building a Global Bank: The Transformation of Banco Santander (2008), The Rise of Spanish Multinationals (2005), The Taylorized Beauty of the Mechanical (2006), The Limits of Convergence: Globalization and Organizational Change in Argentina, South Korea, and Spain (2001), Models of Management (1994), and The AIDS Disaster (1990).

His research has appeared in a variety of academic journals in four separate fields:

Management: Academy of Management Journal, Administrative Science Quarterly, Management Science, Harvard Business Review, Industrial & Labor Relations Review, Advances in International Comparative Management, Industrial & Corporate Change, Journal of International Business Studies, Strategic Management Journal, Journal of Financial Services Research , Organization, Trends in Organizational Behavior, Business Horizons, and Sloan Management Review.

Sociology: American Journal of Sociology, American Sociological Review, Annual Review of Sociology, European Sociological Review, Social Forces, Sociological Forum, and Theory & Society.

Area Studies: East Asian Economic Perspectives, Journal of Latin American Studies, and Latin American Research Review.
Applied Policy: Telecommunications Policy and Transnational Corporations.

He is an Associate Editor of the Administrative Science Quarterly, and serves or has served on the editorial boards of the American Sociological Review, Academy of Management Journal, Academy of Management Review, and Journal of International Business Studies.

His media appearances include:

Bank Mergers & Acquisitions,, BBC, Bloomberg TV, Boston Globe, Business Mexico, Chicago Tribune, CNBC (TV), Daily Express, e-Commerce Times, Entrepreneur Magazine, Financial Times, Forbes, Foreign Policy, Hispanic Business, Los Angeles Times, The Manufacturer, New York Newsday, New York Times, Investor’s Business Daily, International Herald Tribune, Journal of Commerce, The Economist, Wall Street Journal, Wall Street Journal Europe, Wall Street Journal Americas, Washington Times, World Trade.

He was a member of the University of Oviedo team that won the Spain National Basketball University Championship in 1987.

His personal website is at:


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  • Exequiel Hernandez and Mauro Guillen (2017), What’s Theoretically Novel About Emerging Market Multinationals?, Journal of International Business Studies, 49 (1), pp. 24-33.

    Abstract: We review the classic theory of the MNE and past attempts to use it to understand the internationalization of firms from emerging markets. We offer two criteria to determine whether EMNEs modify classic theory or not: (1) establishing appropriate theoretical reference points and (2) distinguishing between theoretical constructs and empirical variables. We suggest that the literature can benefit from moving beyond comparing EMNEs to DMNEs and focusing instead on more fruitful issues. Specifically, emerging markets offer the opportunity to observe the origin of the capabilities of MNEs in general and the development of the institutional ecosystem that supports internationalization.

  • Mauro Guillen and Laurence Capron (2016), State Capacity, Minority Shareholder Protections, and Stock Market Development, Administrative Science Quarterly, 61 (1), pp. 125-160.

  • Nan Zhou and Mauro Guillen (2016), Categorizing the Liability of Foreignness: Ownership, Location, and Internalization-Specific Dimensions, Global Strategy Journal, 6 (4), pp. 309-329.

    Abstract: This study explains the different types of additional costs faced by multinational firms when they invest abroad. We identify product adaptation cost, discrimination cost, governance cost, and appropriation hazard as important sources of the difficulties that multinationals face. We then link each of these costs to different dimensions of cross-national distance, including economic, cultural, demographic, political, and administrative distance. Finally, we show that the importance of these different distance dimensions differ when multinationals invest abroad for different reasons including market seeking, efficiency seeking, knowledge seeking, and natural resource seeking.

  • Raquel Garcia-Garcia, Esteban Garcia-Canal, Mauro Guillen (2016), Rapid internationalization and long-term performance: The knowledge link, Journal of World Business, 52 (1), pp. 97-110.

    Abstract: Drawing on the knowledge-based view and organizational learning theory, we develop and test a set of hypotheses to provide a first attempt at analyzing the effect of speed of internationalization on long-term performance. Using a panel-data sample of Spanish listed firms (1986–2010), we find that there is an inverted U-shaped relationship between speed of internationalization and long-term performance. We also find that whereas technological knowledge steepens this relationship, the diversity of prior international experience flattens it. Our results contribute to the existing IB literature on the performance of FDI, cross-country knowledge transferability, and nonsequential entry.

  • Nan Zhou and Mauro Guillen (2015), From Home Country to Home Base: A Dynamic Approach to the Liability of Foreignness, Strategic Management Journal, 36, pp. 907-917.

  • Laura Fernandez-Mendez, Esteban Garcia-Canal, Mauro Guillen (2015), Legal Family and Infrastructure Voids as Drivers of Regulated Physical Infrastructure Firm’s Exposure to Governmental Discretion, Journal of International Management , 21, pp. 135-149.

  • Mauro Guillen, The Architecture of Collapse: The Global System in the 21st Century (2015)

  • Heather Berry, Mauro Guillen, Arun S. Hendi (2014), Is there Convergence across Countries? A Spatial Approach, Journal of International Business Studies, 45, pp. 387-404.

  • Randall Collins and Mauro Guillen (2012), Mutual Halo Effects in Cultural Production: The Case of Modernist Architecture, Theory & Society, 41 (6), pp. 527-556.

  • Mauro Guillen and Emilio Ontiveros, Global Turning Points (2012)


Past Courses

  • MGMT111 - Multinational Management

    Multinational management is the study of the international corporation and the global political and economic environment. This course provides an introduction to the more advanced offerings. It covers the historical origins of the multinational corporation, the economics of trade, money and investment in the world economy, and the policies and behavior of governments and international organizations. We place considerable emphasis in understanding the national and historic origins of the international firm, as well as on current issues regarding emerging economies and shifts in the political economy of global markets.

  • MGMT612 - Management of Emerging Enterprises

    Emerging enterprises, the focus in this course, are small, new, fast-growing organizations. Their founders and managers face multifaceted challenges: how to assess the competitive position of their business model and develop a strategy; how to develop the internal organizational structure, culture, and policies for selecting and managing employees; and how to pursue global opportunities. We cover these challenges in separate modules on strategy, human and social capital, and global issues. The human and social capital module covers classic management challenges of aligning interests of the individual and the organization; managing individual psychological needs and social influences; and developing employee capabilities that provide competitive advantage. Also covered are unique challenges that yound organizations face, i.e. building an effective culture; recruiting, selecting, and retaining talent; building systematic approaches to motivating employees; coping with the stresses of rapid growth; and leveraging the benefits (and avoiding the liabilities) of the founder's powerful imprint. ,The strategy module covers fundamental issues central to the competitiveness of the enterprise. Because the strategy field is broad, MGMT 612 emphasizes topics and frameworks that are most relevant for younger firms, such as innovation, disruption, managing resource constraints, and building capabilities. However, a key insight of the module is the importance of seeing the playing field from the perspective of the competition. Thus, by the end of this section, students will have a robust grounding in strategy that will allow them to succeed, whether their career path leads to a Fortune 100 firm or a garage start up. ,The global module covers the emerging firm's decision about when (and whether) to internationalize. This decision must address which foreign markets to enter; the mode of entry; the sequence of moves to develop capabilities; what organizational form to choose; where to establish HQ; and how to adapt to the unique economic and institutional features of different markets. In all these issues, the emphasis is on how young, resource-constrained firms can position themselves profitably in globally competitive markets. For the final project, student teams provide integrated analysis across the modules for an emerging enterprise of their choice.

  • MGMT932 - Proseminar in Management

    Innovation is currently a hot topic. The popular stereotype holds that firms that are not innovating, or that are not at least saying that they are innovating, are backward at best and at risk of extinction at worst. Behind the hype ismore than half a century of theory and research on organizational and managerial innovation, and the seminar will focus on this domain. A useful overview of the domain is available in Fariborz Damanpour "Organizational Innovation" in Oxford Rsearch Encyclopedia on Business and Management Oxford University Press 2018. ,We will examine a number of theoretical and empirical approaches to understanding the phenomenon that have emerged during this period and identify key questions explored, principal contributions to the literature, and remaining questions and areas for future research. At the same time, we will embard on a journey in the sociology of knowledge, to encourange you to understand how the evolution of these approaches is linked to changes in the larger world. ,The seminar is also designed to allow you to pursue an angle on the subject matter that is of particular interest to you, and the deliverables are intended to allow you to investigate a topic that you wish to explore in some depth. Both will be discussed at the beginning of the course and will be fleshed out in subsequent discussions together.

  • MGMT933 - Psychological and Sociological Foundations of Research in Management

    This course, is required of all first-year doctoral students in Management and open to other Penn students with permission, provides an introduction to the psychological and sociological roots of management theory and research. The course is predicated on the belief that to be effective as a contemporary management scholar one needs a background in "the classics." Therefore, we will be reading classics from the fields of psychology and sociology in their original form during this semester.

  • MGMT953 - Seminar on Research Methods

    This is an introductory doctoral seminar on research methods in management. We examine basic issues involved in conducting empirical research for publication in scholarly management journals. We start by discussing the framing of research questions, theory development, the initial choices involved in research design, and basic concerns in empirical testing. We then consider these issues in the context of different modes of empirical research (including experimental, survey, qualitative, archival, and simulation). We discuss readings that address the underlying fundamentals of these modes as well studies that illustrate how management scholars have used them in their work, separately and in combination.

  • MGMT955 - Seminar in International Management

    The goal of the course is to provide you with a foundation in some of the major research areas that underpin the study of Multinational Management. International Business (and the study of MNCs) is an interdisciplinary field. As such, our survey of the seminal articles in the field will span a number of different theoretical and empirical approaches (i.e., economic, managerial, organizational and institutional). Much of our seminar discussions will focus on identifying and developing interesting research questions raised by this interdisciplinary literature, which offers many opportunities for systematic empirical study.

Awards and Honors

  • Nominated to the Anvil Teaching Award by a vote of all Wharton MBA students, 2014
  • Delivers Clarendon Lectures at Oxford University, 2014
  • Elected member of the Sociological Research Association, 2013
  • Aspen Institute Faculty Pioneer Award, 2013
  • Excellence in Teaching: Core Curriculum (top 10 teaching ratings in Core), 2012
  • Spring Core Teaching Award (“Goes above and beyond the call of duty”), 2011
  • Finalist, Carolyn Dexter Best International Paper Award, Academy of Management, 2007
  • IV Fundación Banco Herrero Prize, awarded annually to the most promising Spanish social scientist under the age of 40, 2005
  • Elected Fellow of the Macro Organizational Behavior Society, 2004
  • W. Richard Scott Best Paper Award, American Sociological Association, 2003
  • Special Mention, Best Paper Award, Section on Comparative and Historical Sociology, American Sociological Association, 2002
  • Wharton Core MBA Teaching Award, 2000
  • Selected as Guggenheim Fellow, 1998
  • As Member of the Institute for Advanced Study, Princeton, 1998
  • Gulf Publishing Company Best Paper Award from the Academy of Management, 1997
  • President’s Book Award of the Social Science History Association, 1993
  • Finalist, American Sociological Association Best Dissertation Award, 1992
  • Co-Winner, Sussman Dissertation Prize, Department of Sociology, Yale University, 1992
  • Gustavus Myers Award for Outstanding Book on Human Rights, 1991
  • Special Mention, Worldwide Competition for Young Sociologists, World Congress of Sociology, International Sociological Association, 1990

In the News

Knowledge @ Wharton


Latest Research

Exequiel Hernandez and Mauro Guillen (2017), What’s Theoretically Novel About Emerging Market Multinationals?, Journal of International Business Studies, 49 (1), pp. 24-33.
All Research

In the News

NAFTA 2.0: What Will It Mean for Trade?

In its bid to recast the North American Free Trade Agreement, the U.S. has secured the buy-in of Mexico, but it still faces resistance from Canada.

Knowledge @ Wharton - 2018/09/6
All News

Awards and Honors

Nominated to the Anvil Teaching Award by a vote of all Wharton MBA students 2014
All Awards