Michael Reto Braun, Ph.D.
Professor, Management
Management and Marketing Department
School of Business Administration
University of Montana
Missoula, MT 59812
e-mail:
EDUCATION
Ph.D., Strategic Management; University of Massachusetts, Amherst, MA; September 2006;
Dissertation Title: The Governance of Reverse Leverage Buyouts.
Dissertation Chair: Anurag Sharma, Ph.D.
M.B.A. Marshall School of Business, University of Southern California, Los Angeles, CA, June 1999
M.A. Business of Publishing; New York University, New York, NY, June 1995
B.A. Asian Studies; Cornell University, Ithaca, NY, June 1992
ACADEMIC HONORS
· Recipient, Poe Family Faculty Fellowship, School of Business Administration, University of Montana, 2012 – Present
· Outstanding Management Faculty, School of Business Administration, University of Montana, 2015 – 2016.
· Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2014 – 2015.
· Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2014 – 2015.
· Outstanding Management Professor, School of Business Administration, University of Montana, 2012 – 2013.
· Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2012 – 2013.
· Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2012 – 2013.
· Outstanding Management Professor, School of Business Administration, University of Montana, 2010 – 2011.
· Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2010 – 2011.
· Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2010 – 2011.
· Most Inspirational Teacher of the Year Award, University of Montana, 2010.
· Emerald Group Publishing “Outstanding Paper Award” Recipient for authoring article entitled “Economic Recessions, Strategy, and Performance: A Synthesis,” in Journal of Strategy and Management.
· Emerald Group Publishing “Highly Commended Award” Recipient for authoring article entitled “When the Big "R" Hits Home: Governance in Family Firms during Economic Recession,” in Journal of Strategy and Management.
· Outstanding Management Professor, School of Business Administration, University of Montana, 2008 – 2009.
· Outstanding Management Professor, School of Business Administration, University of Montana, 2006 – 2007.
· Awarded $8,000 University of Massachusetts Graduate School Fellowship Award for Outstanding Doctoral Student, University of Massachusetts, 2004-2005. [University-wide competition].
· Recipient, Hearst Graduate Student Fellowship, New York University, 1992.
PUBLISHED BOOKS & BOOK CHAPTERS
· Braun, M. & Latham, S. 2014. Mastering Strategy: Workshops for Business Success. Published by Praeger Publishers (an imprint of ABC-CLIO). Additional resources at www.mastering-strategy.com.
· Braun, M. & Latham, S. 2010. “Perceptions, Processes, and Performance during Organizational Decline.” Special Topics Book Chapter in Handbook of Research on Strategy Process: Edward Elgar Publishing.
SCHOLARLY AND PROFESSIONAL JOURNAL PUBLICATIONS
1. Laffranchini, G., Hadjimarcou, J., Kim, S. & Braun, M. “The Internationalization of Family Firms: A Signal Detection Approach” Forthcoming in Journal of Family Business Management.
2. Braun, M. & Douma, B. 2016. “Podere Riosto: A ‘Forchetta’ in the Road.” Wine Business Case Research Journal, 1(1), 44-57.
3. Braun, M., Latham, S. & Porschitz, E. 2015. “All Together Now: Strategy Mapping for Family Businesses.” Journal of Business Strategy, 37(1). Lead Article.
4. McKinley, W., Latham, S. & Braun, M. “Don’t treat innovation as a cure-all.” Harvard Business Review Online, December 8, 2014.
5. Braun, M. & Porschitz, E. 2014. “Overcoming the Challenges of Family Business.” Business Monadnock, 2(3).
6. Laffranchini, G. & Braun, M. “Slack in Family Firms: Evidence from Italy (2006-2010)” Journal of Family Business Management, 4(2).
7. McKinley, W., Latham, S. & Braun, M. 2014. “Organizational Decline and Innovation: Turnaround and Downward Spirals” Academy of Management Review, 39(1), 88-110.
8. Braun, M. & Latham, S. 2012. “Pulling off the Comeback: Shrink, Expand, Neither, Both?" Journal of Business Strategy, 33(3), 13-21.
9. Braun, M., Zacharias, L. & Latham, S. 2011. “Family-controlled Firms versus Leveraged Buyouts: A Comparative Assessment of Superior Governance Structures.” Journal of Family Business Management, 1(2), 89 – 106.
10. Latham, S. & Braun, M. 2011. “Economic Recessions, Strategy, and Performance: A Synthesis.” Journal of Strategy and Management, 4(2). Lead Article. Recipient of Outstanding Paper Award, Emerald Publishing.
11. Latham, S. & Braun, M. 2010. “To IPO or not to IPO: CEO ownership, market uncertainty, and the decision to go public.” British Journal of Management, Special Issue: An international forum advancing theory and research. 21(3).
12. Latham, S. & Braun, M. 2010. “Does Short-termism Influence Firm Innovation? An Examination of S&P 500 Firms, 1990 - 2003.” Journal of Managerial Issues, 22(3).
13. Latham, S. & Braun, M. 2010. “Jilted? The manager's little book for keeping customers in a recession.” In Journal of Business Strategy, 31(1). Lead article.
14. Braun, M. & Latham, S. 2009. “When the Big "R" Hits Home: Governance in Family Firms during Economic Recession.” In Journal of Strategy and Management, 2(2). Lead article; Selected for Editor’s Choice; Recipient of Highly Commended Paper Award, Emerald Publishing.
15. Braun, M. & Latham, S. 2009. “Rethinking Value Creation in Leveraged Buyouts: Board Restructurings over the Public-Private-Public Cycle.” In Management Decision, 47(5).
16. Latham, S. & Braun, M. 2009. “Managerial Risk, Innovation, and Organizational Decline.” In Journal of Management, 35(2).
17. Latham, S. & Braun, M. 2009. “Assessing the Relationship between Financial Slack and Company Performance during an Economic Recession: An Empirical Study”. In International Journal of Management, 26(1), Invited Paper.
18. Latham, S. & Braun, M. 2008. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”. In Journal of Managerial Issues, 20(1).
19. Braun, M. & Sharma, A. 2007. “Divisional reverse leveraged buyout: Finishing school or financial arbitrage". In The Journal of Private Equity, 11(1). Lead article. Summarized (by William A. Trent, CFA) and reprinted in CFA Digest, May 2008, 38(2).
20. Braun, M. & Latham, A. 2007. “The Governance of Going Private Transactions: The Leveraged Buyout Board of Directors as a Distinctive Source of Value.” In Management Decision, Special Issue on Investor Influence on Company Management, 33(6).
21. Braun, M. & Sharma, A. 2007. “Should the CEO Also Be Chair of the Board? An Empirical Examination of Family-Controlled Firms.” In Family Business Review, 20(2).
CONFERENCE PROCEEDINGS
· Laffranchini, G., Kim, S. & Braun, M. “To Invest or Not to Invest? Capital Expenditures in Italian Family Firms.” Published in proceedings. USASBE (United States Association for Small Business and Entrepreneurship), Tampa, FL 2015.
· Laffranchini, G., Hadjimarcou, J., Kim S., Braun, M. “The Internationalization of small family-owned businesses: A signal detection approach.” Published in proceedings. USASBE (United States Association for Small Business and Entrepreneurship), San Francisco, CA, 2013.
· Braun, M., Bajwa, Z. & Latham, S. “Risking the Family Fortune: Capital Expenditures during Organizational Decline.” Eastern Academy of Management, Boston, MA, 2011. Published in refereed proceedings.
· Braun, M. & Latham, S. “The Governance of Reverse Leveraged Buyouts: The Board of Directors as a Distinctive Source of Shareholder Value.” Western Academy of Management, Missoula, MT, 2007. Published in refereed proceedings.
· Braun, M., “Divisional Reverse Leveraged Buyouts: Rethinking Causes and Consequences of the LBO.” Eastern Academy of Management, Springfield, MA, 2005. Published in refereed proceedings.
· Braun, M., “Eclipse of LBO Research in Strategic Management.” Second Annual IASTED International Conference on Alliances, Mergers, and Acquisitions at MIT, Cambridge, MA, 2004. Published in refereed proceedings.
CONFERENCE & OTHER PRESENTATIONS
· Laffranchini, G., Kim, S. & Braun, M. “To Invest or Not to Invest? Capital Expenditures in Italian Family Firms” USASBE (United States Association for Small Business and Entrepreneurship), Tampa Bay, January 2015.
· Laffranchini, G., Hadjimarcou, J. & Braun, M. “The Internationalization of small family-owned businesses: A signal detection approach.” USASBE (United States Association for Small Business and Entrepreneurship), San Francisco, January 2013.
· Laffranchini, G. & Braun, M. “Buying your way out of a hole? Acquisitions in family firms during organizational decline.” International Family Enterprise Research Academy (IFERA) Annual World Conference, Palermo, Italy, 2011.
· Braun, M., Bajwa, Z. & Latham, S. “Risking the Family Fortune: Capital Expenditures during Organizational Decline.” Eastern Academy of Management, Boston, MA, 2011.
· Braun, M. “Of all things Italian: Teaching and researching in Brescia.” International Brown Bag Lecture Series, University of Montana, Missoula, MT, 2010.
· Braun, M., Harrington, M., Zacharias, L. & Latham, S. “Of Blood, Carrots and Sticks: Comparing Family Firm and LBO Governance Structures.” National Academy of Management Meeting, ENT Division, Montreal, Canada, 2010.
· Latham, S. & Braun, M. “Economic Recessions, Strategy, and Performance: A Synthesis.” National Academy of Management Meeting, BPS Division, Montreal, Canada, 2010.
· Latham, S., Braun, M. & Tello, S. “'The Impact of Stock Market Performance on R&D Expenditures: Do Short Term Market Pressures Affect Long Term Investments?” Eastern Academy of Management, Rockport, ME, 2010.
· Ledermann, E. & Braun, M. “When Recessions are Good for Companies: Modifying Strategic Frameworks for Competitive Advantage.” Graduate Student and Faculty Research Conference, University of Montana, April 2010.
· Latham, S. & Braun, M. “Organizational Decline and Innovation: Closing the Loop.” National Academy of Management Meeting, BPS Division, Chicago, IL, 2009.
· Braun, M. & Latham, S. “Rethinking Value Creation in Leveraged Buyouts: Board Restructurings over the Public-Private-Public Cycle.” National Academy of Management Meeting, BPS Division, Anaheim, CA, 2008.
· Latham, S. & Braun, M. “To IPO or not to IPO: An Agency Perspective on the Decision to Go Public in an Uncertain Market.” National Academy of Management Meeting, BPS Division, Anaheim, CA, 2008.
· Latham, S. & Braun, M. “Decline as the Mother of Rigidity or Innovation? Examining Mone, McKinley, and Barker’s Framework.” National Academy of Management Meeting, BPS Division, Philadelphia, PA, 2007.
· Braun, M. & Latham, S. “The Governance of Reverse Leveraged Buyouts: The Board of Directors as a Distinctive Source of Shareholder Value.” 48th Annual Meeting of Western Academy of Management, 2006, Missoula, MT. Published in refereed proceedings.
· Latham, S. & Braun, M. “Batten Down the Hatches or Trim the Sails: The Role of Financial Slack during Economic Recession.” National Academy of Management Meeting, BPS Division, Atlanta, GA, 2006.
· Braun, M. & Sharma, A. “Divisional Reverse Leveraged Buyout: Finishing School or Financial Arbitrage?” Journal of Corporate Finance - Special Issue Conference, "Private Equity, Leveraged Buyouts, and Corporate Governance”, Rensselaer Polytechnic Institute, Troy, NY, April 2006.
· Braun, M., “Paths of Divestiture towards Public Independence: Divisional Reverse Leveraged Buyout as an Alternative to Spin-off.” National Academy of Management Meeting, BPS Division, Honolulu, HI, 2005.
· Braun, M., “Divisional Reverse Leveraged Buyouts: Rethinking Causes and Consequences of the LBO.” Forty-second Annual Meeting of the Eastern Academy of Management, Springfield, MA, 2005.
· Braun, M., “Eclipse of LBO Research in Strategic Management.” Second Annual IASTED International Conference on Alliances, Mergers, and Acquisitions at MIT, Cambridge, MA, 2004.
· Braun, M., “Eclipse of the LBO: Revisiting the Debate on the Long-term Viability of an Organizational Innovation.” Fourth Annual International Conference on Money, Risk and Investment, Nottingham-Trent University, Nottingham, UK, 2003.
UNIVERSITY GRANTS
· Competitive Summer Grant, 2012, School of Business Administration, University of Montana.
· Faculty Exchange, Università degli Studi di Brescia, Italy. July 2011 – August 2012. University of Montana.
· International Activity Funding, Cross-cultural Research Grant, 2009, University of Montana.
· Competitive Summer Grant, 2009, School of Business Administration, University of Montana.
· University Research Grant, Braun, M. & Latham, S. “The Family Imprint during Recession and Recovery: Corporate Governance of Family-controlled Public Firms.” University of Montana, 2008-09.
· Summer Research Grant, 2007, School of Business Administration, University of Montana.
PRESS COVERAGE / PUBLIC SPEECHES / RESEARCH MENTION IN INDUSTRY
· “What do you know: with Michael Braun” Hour-long interview on European culture, politics, and business on 101.5FM & 1290AM News Talk KGVO FM, December 8, 2015. (https://www.youtube.com/watch?v=BuKm7Gt0k9s&feature=youtu.be)
· “As University of Montana enrollment dips, international students are the exception.” Interviewed by Keila Szpaller in Missoulian, June 13, 2015
· “Successful family run companies keep business and family separate.” Interview on Michael Braun by Melanie Plenda in Business Monadnock, Volume 2, Issue 3, 2014.
· “Montana family business programme aims to address vacuum of support in the state.” Interview on UM’s Family Business Seminar initiative by Michael Finnegan, Campden FB, September 15, 2014.
· “Success the focus of forum: First in series to focus on next generation leadership, planning.” Interview on UM’s Family Business Seminar initiative by Alice Miller in Missoulian, January 12, 2014.
· “Customer Relationship Management in the Age of Digital Real Estate Services”. Keynote Speaker: to largest national realtors organizations in the U.S. during National Association of Realtors (NAR) Conference (Fall, 2013).
· Keynote Speaker: “Entrepreneurship: Nature or Nurture”, Small Business Opportunity Workshop, hosted by Senator Jon Tester, February 23, 2011.
· Speaker: “The ‘Family’ in Small Businesses.” 28th Annual State of Missoula Address: “Commerce Report”. Missoula Chamber of Commerce, January 22, 2013, Missoula, MT.
· Braun, M. & Latham, S. “Governance in family firms during economic recession”, reprinted for Editor’s Choice in Emerald’s Management Thinking.
· Braun, M. “Recession & Your Business: Ideas for Weathering the Storm”, column in Keep Missoula Working, March 2009, published by the Missoula Area Chamber of Commerce.
· Latham, S. & Braun, M. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”, mentioned in November, 2008 issue of Canadian Business Monthly, in article entitled “Economic downturn: Survival guide.”
· Latham, S. & Braun, M. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”, reprinted in Entrepreneur.com.
· Braun, M. & Sharma, A. “Divisional reverse leveraged buyout: Finishing school or financial arbitrage", summarized (by William A. Trent, CFA) and reprinted in CFA Digest, May 2008, Vol. 38, No. 2: 8-10.