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H.P.G. (Enrico) Pennings

Full Professor

Enrico Pennings
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Professor Applied Industrial Organization

Programme:
Strategy & Entrepreneurship
ERIM Membership:
Fellow ERIM, affiliated since 2006
Profile

Enrico Pennings is a professor at the Department of Applied Economics, the Erasmus School of Economics (ESE).



Professor Pennings has been a fellow of the Tinbergen research school since 2005 and a member of ERIM since 2006.



Before joining the Erasmus School of Economics (ESE) he was an assistant professor at IGIER-Bocconi University in Milan and at the University Pompeu Fabra in Barcelona. He is former IGIER fellow.



Professor Pennings obtained his PhD in 1998 Cum Laude from the Erasmus University Rotterdam with a thesis entitled Real Options and Managerial Decision Making.

Work in progress
  • Bhaskarabhatla, A.S. & Pennings, E. (2012). Defensive Disclosure of Patentable Inventions Under Antitrust Enforcement.
Publications (49)
  • Articles (41)
    • Bekkum, S. van, Smit, J.T.J. & Pennings, E. (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management - FM, 40(4), 911-940.
    • Pennings, H.P.G. (2011). Unionization Structure, Licensing and Innovation. International Journal of Industrial Organization, 29(2), 232-241.[go to publisher's site]
    • Pennings, H.P.G. & Sereno, L. (2011). Evaluating Pharmaceutial R&D udner Technical and Economic Uncertainty. European Journal of Operational Research, 212(2), 374-385.[go to publisher's site]
    • Duso, T., Pennings, H.P.G. & Seldeslachts, J. (2010). Learning dynamics in research alliances: A panel data analysis. Research Policy, 39(6), 776-789.
    • Hoogendoorn, B., Pennings, H.P.G. & Thurik, A.R. (2010). What do we know about social entrepreneurship? An analysis of empirical research. International Review of Entrepreneurship, 8(2), 71-112.
    • Bekkum, S. van, Pennings, H.P.G. & Smit, J.T.J. (2009). A Real Options Perspective on R&D Portfolio Diversification. Research Policy, 38(7), 1150-1158.
    • Emami Namini, J. & Pennings, H.P.G. (2009). Horizontal multinational firms, vertical multinational firms and domestic investment. In Tinbergen Institute Discussion Paper 2009-004/2.
    • Pennings, H.P.G. & Altomonte, C. (2009). Domestic plant productivity and incremental spillovers from foreign direct investment. Journal of International Business Studies, 40(7), 1131-1148.[go to publisher's site]
    • Altomonte, C. & Pennings, H.P.G. (2008). Learning from foreign investment by rival firms: theory and evidence. International Journal of Industrial Organization, 26(5), 1203-1217.[go to publisher's site]
    • Pennings, H.P.G. (2008). Privatization of real options. Journal of Comparative Economics, 36(3), 489-497.
    • Coucke, K., Pennings, H.P.G. & Sleuwaegen, L.I.E. (2007). Employee layoff under different modes of restructuring exit, downsizing or relocation. Industrial and Corporate Change, 16(2), 161-182.
    • Mukherjee, A. & Pennings, H.P.G. (2006). Tariffs, licensing and market structure. European Economic Review, 50, 1699-1707.
    • Pennings, H.P.G. & Altomonte, C. (2006). The Hazard Rate of Foreign Direct Investment: A Structural Estimation of a Real-option Model. Oxford Bulletin of Economics and Statistics, 68(5), 569-593.
    • Sleuwaegen, L.I.E. & Pennings, H.P.G. (2006). International Relocation of Production: Where do Firms Go? Scottish Journal of Political Economy, 53(4), 430-446.
    • Pennings, H.P.G. (2005). How to Maximize Domestic Benefits from Foreign Investments: The Effect of Irreversibility and Uncertainty. Journal of Economic Dynamics and Control, 29, 873-889.
    • Pennings, H.P.G. (2004). Imitation, Patent Protection and Welfare. Oxford Economic Papers, 56, 715-733.
    • Pennings, H.P.G. & Sleuwaegen, L.I.E. (2004). The choice and timing of foreign direct investment under uncertainty. Economic Modelling, 21(6), 1101-1115.
    • Pennings, H.P.G. (2004). Optimal Pricing and Quality Choice when Investment in Quality is Irreversible. The Journal of Industrial Economics, 52, 569-589.
    • Pennings, H.P.G. (2003). The V-Shaped Value Evolution of R&D Projects. Applied Economics Letters, 10(1), 27-32.
    • Pennings, H.P.G. & Lint, L.J.O. (2003). On the recently developed digital video standard, a game based analysis. Technovation, 23, 297-306.
    • Pennings, H.P.G. & Lint, L.J.O. (2003). On the recently developed digital video standard. A game-based analysis, Technovation. International Journal, 23, 297-306.
    • Lint, L.J.O. & Pennings, H.P.G. (2001). An option approach to the new product development process: a case study at Philips electronics. R and D Management, 31(2), 163-172.
    • Natter, M. & Pennings, H.P.G. (2001). Strategic Diversificaton and capacity utilisation. International Journal of Production Economics, 72, 261-272.
    • Natter, M. & Pennings, H.P.G. (2001). Strategic diversification and capacity utilisation. International Journal of Production Economics, 72, 261-272.
    • Pennings, H.P.G. (2001). Price or quantity setting under uncertain demand and capacity constraints: An examination of the profits. Journal of Economics, 74, 157-171.
    • Pennings, H.P.G. (2001). Price or quantity setting under uncertain demand and capacity constraints: An examination of the profits. Journal of Economics, 74, 157-171.
    • Pennings, H.P.G. & Lint, L.J.O. (2000). Market Introduction, Phased Rollout or Abandonment? A Real Option Approach. European Journal of Operational Research, 124, 125-138.
    • Pennings, H.P.G. (2000). Taxes and Stimuli of Investment under Uncertainty. European Economic Review, 44, 383-391.
    • Sleuwaegen, L.I.E. & Pennings, H.P.G. (2000). International relocation: Firm and industry determinants. Economics Letters, 67(2), 179-186.
    • Lint, L.J.O., Pennings, H.P.G. & Natter, M. (1999). Optionsmanagement in F&E: Eine Fallstudie. Zeitschrift fur Betriebswirtschaft, 51(10), 990-1006.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). De recent overeengekomen videostandaard: een standaardanalyse deel II. Bedrijfskunde, 70(2), 83-89.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). De recent overeengekomen digitale videostandaard, deel I. Bedrijfskunde, 70(1), 39-44.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). R&D als optie op marktintroductie. Bedrijfskunde, 69(1), 61-67.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). Financiën en strategie:time-to-wait or time- to-market. MAB, 71(3), 117-125.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). R&D as an option on market introduction. R and D Management, 28, 279-287.
    • Lint, L.J.O. & Pennings, H.P.G. (1998). Een reële optieanalyse van het gelijktijdig ontwikkelen van twee produktstandaarden. MAB, 72(1/2), 60-66.
    • Pennings, H.P.G. (1998). How to Finance your Investment Opportunity Internally: A Note. The Journal of Futures Markets, 18, 599-604.
    • Lint, L.J.O. & Pennings, H.P.G. (1997). The option Value of Advanced R&D. European Journal of Operational Research, 103, 83-94.
    • Lint, L.J.O. & Pennings, H.P.G. (1997). Financiën en strategie: time-to-wait or time-to-market? MAB, 117-125.
    • Pennings, H.P.G. & Lint, L.J.O. (1997). The option value of advanced R&D. European Journal of Operational Research, 103(1), 83-94.
    • Lint, L.J.O. & Pennings, H.P.G. (1995). Optiemanagement bij investeringen in nieuwe technologie. Holland Management Review, 44-45.
  • Book contributions (4)
    • Hoogendoorn, B., Pennings, H.P.G. & Thurik, A.R. (2012). A conceptual overview of What We Know About Social Entrepreneurship. In J. DeFilippis & S. Saegert (Eds.), The Community Development Reader (pp. 117-124). New York: Routledge.
    • Sleuwaegen, L.I.E. & Pennings, H.P.G. (2001). Relocation and public aid: a first report. In Mucchielli,.J.-L. Dunning, J.H. (Ed.), Multinational firms' strategies: The local-global dilemma (Studies in global competition series) (pp. 178-189). New York: Routledge.
    • Lint, L.J.O. & Pennings, H.P.G. (1999). A business shift approach to R&D option valuation. In L. Trigeorgis (Ed.), Real Options and Business Strategy. Applications to Decision Making (pp. 117-135). Cambridge: RISK Publishers.
    • Lint, L.J.O. & Pennings, H.P.G. (1996). Het management van reële optiewaarde. In P.J.J.M. van Loon & J.H. von Eije (Eds.), De financiële functie en ondernemingswaarde (pp. 201-216). Alphen a/d Rijn: Samsom.
  • Professional publications (3)
    • Karreman, B., Nacken, T.G. & Pennings, H.P.G. (2013). Arabische lente voor de EBRD. Internationale Spectator, 67(4), 46-51.
    • Karreman, B. & Pennings, H.P.G. (2011). De volgende fusie- en overnamegolf. Economisch-Statistische Berichten, 96(4619), 589-591.
    • Laan, L. van der & Pennings, H.P.G. (2009). Organizations in a Dynamic Environment. USA-Hoboken-NJ: Wiley Higher Education.
  • Doctoral thesis
    • Pennings, H.P.G. (1998, Juni 12). Real options and managerial decision making. Erasmus University Rotterdam (126 pag.) (Ridderkerk: Offsetdrukkerij Ridderprint B.V.). Prom./coprom.: L.I.E. Sleuwaegen & prof.dr. R.S. Pindyck.
Recognitions (2)
  • Editorial position (1)
    Journal Technovation
    Role Editorial Board
    Start date 01-01-2008

  • Side position (1)
    Name organisation Universita di Sassari
    Role Visiting Professor
    Start date 01-01-2010
    End date 31-05-2010
    Wage earning ja

PhD Projects (5)

Self - interest Fuelling Peace? Multinational enterprises in politically violent regions.

Caroline Witte
PhD Candidate: Caroline Witte Role: Supervisor, Daily Supervisor Timeframe: 2013 -
 

Social Entrepreneurship in the Modern Economy: Warm Glow, Cold Feet

Brigitte Hoogendoorn
PhD Candidate: Brigitte Hoogendoorn Role: Supervisor Defended: 06 October 2011 Full text: Download this thesis
 

Financial Services and Emerging Markets

Bas Karreman
PhD Candidate: Bas Karreman Role: Supervisor Defended: 27 January 2011 Full text: Download this thesis
 

Innovation in the Pharmaceutical Industry: Evidence from Drug Introductions in the U.S.

Lenny Pattikawa
PhD Candidate: Lenny Pattikawa Role: Co-supervisor Defended: 05 April 2007 Full text: Download this thesis
 
Events (22)
Mar 18, 2014 Crisis-Proof Services: Why Trade in Services Did Not Suffer During The 2008-2009 Collapse
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 14, 2014 Optimal Procurement and Investment In New Technologies Under Uncertainty
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 14, 2014 Financial Fair Play in European Football
  Career Event ERIM Doctoral Programme | Strategy & Entrepreneurship

Mar 12, 2014 How Does R&D Worker Recruitment Affect Firm Exploration? A Longitudinal Study of the Role of Cognitive Distance
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 7, 2014 Product Market Financing and the Financing of New Ventures
  ERIM Research Seminar | Strategy & Entrepreneurship

Dec 15, 2011 Multinational Strategies, Networks and Regional Economic Development
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 4, 2011 Submarkets, Vertical Integration and Survival in the US Laser Industry
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 2, 2011 Imperfect Certification
  ERIM Research Seminar | Strategy & Entrepreneurship

Feb 25, 2011 Arrow's Paradox and Competitive Markets for Information
  ERIM Research Seminar | Strategy & Entrepreneurship

Jan 11, 2011 The Stability of Offshore Outsourcing Relationships: The Role of Relation Specificity and Client Control
  ERIM Research Seminar | Strategy & Entrepreneurship

Sep 17, 2010 Does Contract Complexity Limit Opportunities? Vertical Organization and Flexibility
  ERIM Inaugural Address Research in Management Series | Strategy & Entrepreneurship

May 18, 2010 (De-)Institutionalizing Organizational Competence: Olivetti's Transition from Mechanical to Electronic Technology
  ERIM Research Seminar | Strategy & Entrepreneurship

Apr 26, 2010 "The Performance Consequences of New Forms of Ambidexterity in the Context of Interorganizational Innovation"
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 24, 2010 "The Relationship between Multiple Identification Targets during Post-Merger Integration"
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 9, 2010 "The Contingent Value of Initial Collaborative Market Exposure for the Establishment of Autonomous Operations: Evidence from the Aircraft Industry since WWII"
  ERIM Research Seminar | Strategy & Entrepreneurship

Mar 8, 2010 "Selection at the Gate: Difficult Cases, Spillovers, and Organizational Learning"
  ERIM Research Seminar | Strategy & Entrepreneurship

Jun 25, 2009 Sustained Strategic Renewal in Long-Lived Firms
  ERIM Research Seminar | Strategy (- 2009)

Mar 26, 2008 Word of Mouth and Recommender Systems: A Theory of the Long Tail
  ERIM Research Seminar | Strategy (- 2009)

Mar 19, 2008 Why Butterflies Don't Leave: Locational Behavior of Entrepreneurial Firms
  ERIM Research Seminar | Entrepreneurship & Innovation (- 2009)

Mar 12, 2008 Entry and Exit fo Firms in a Global Economy: A Cross-Country and Industry Analysis
  ERIM Research Seminar | Strategy (- 2009)

Mar 5, 2008 Recovering the Sunk Costs of R&D: The Moulds Industry Case
  ERIM Research Seminar | Strategy (- 2009)

Jan 1, 2000 The Impact of Cross-Border Mergers and Acquisitions on the Acquirers' R&D - Firm-Level Evidence
  ERIM Research Seminar | Strategy (- 2009)

Visiting address
Office: H13-31
Burgemeester Oudlaan 50
3062 PA, Rotterdam
Netherlands
Postal address
Postbus 1738
3000 DR, Rotterdam
Netherlands
 

Work in progress

  • Bhaskarabhatla, A.S. & Pennings, E. (2012). Defensive Disclosure of Patentable Inventions Under Antitrust Enforcement.

Latest publication

Karreman, B., Nacken, T.G. & Pennings, H.P.G. (2013). Arabische lente voor de EBRD. Internationale Spectator, 67(4), 46-51.

Latest news

Social entrepreneurship: welfare phenomenon attracts entrepreneurs with a deviant profile

Many inspiring cases of entrepreneurs who are successfully addressing the most pressing ills of our time make social entrepreneurship a promising field with a 'warm glow.' Despite the growing attention from media,…

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