Prof. dr. H.P.G. (Enrico) Pennings

Erasmus School of Economics (ESE)
Erasmus University Rotterdam
Fellow ERIM
Field: Strategy & Entrepreneurship
Affiliated since 2006

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.

Publications

  • Academic (45)
    • Witte, C., Burger, M., & Pennings, E. (2020). When political instability devaluates home-host ties. Journal of World Business, 55(4), [101077]. https://doi.org/10.1016/j.jwb.2020.101077

    • Peeters, T., Mills, B., Pennings, E., & Sung, H. (2019). Manager Migration, Learning-by-hiring and Cultural Distance in International Soccer. Global Strategy Journal, 11(3), 494-519. https://doi.org/10.1002/gsj.1354

    • Smit, H., Pennings, E., & Bekkum, S. (2017). Real Options and Institutions. Journal of International Business Studies, 48(5), 620-644. https://doi.org/10.1057/s41267-016-0055-7

    • Bhaskarabhatla, A., Anurag, P., Chatterjee, C., & Pennings, E. (2017). Mitigating Regulatory Impact: The Case of Partial Price Controls on Metformin in India. Health Policy and Planning, 32(2), 194-204. https://doi.org/10.1093/heapol/czw109

    • de Vries, AGB., Pennings, E., Block, J., & Fisch, C. (2017). Trademark or patent? The effects of market concentration, customer type and venture capital financing on start-ups’ initial IP applications. Industry and Innovation, 24(4), 325-345. https://doi.org/10.1080/13662716.2016.1231607

    • Fernald, KDS. K., Pennings, E., van den Bosch, JF., Commandeur, H., & Claassen, E. (2017). The moderating role of absorptive capacity and the differential effects of acquisitions and alliances on Big Pharma firms' innovation performance. PLoS One (print), 12(2), 1-22. https://doi.org/10.1371/journal.pone.0172488

    • Witte, C., Burger, M., Ianchovichina, E., & Pennings, E. (2017). Dodging bullets: the heterogeneous effect of political violence on greenfield FDI. Journal of International Business Studies, 48(7), 862-892. https://doi.org/10.1057/s41267-017-0079-7

    • Pennings, E. (2016). Real Options with Ex-Post Division of the Surplus. Journal of Banking and Finance, 81, 200-206. https://doi.org/10.1016/j.jbankfin.2016.09.007

    • Altomonte, C., Colantone, I., & Pennings, E. (2016). Heterogeneous firms and asymmetric product differentiation. The Journal of Industrial Economics, 64(4), 835-874. https://doi.org/10.1111/joie.12105

    • Reeven, P., & Pennings, E. (2015). On the Relation between Multimarket Contact and Service Quality: Mutual Forbearance or Network Coordination? Strategic Management Journal, 37(10), 2121-2134. https://doi.org/10.1002/smj.2435

    • Fernald, KDS. K., Pennings, E., & Claassen, E. (2014). Biotechnology Commercialization Strategies: Risk and Return in Interfirm Cooperation. Journal of Product Innovation Management, 32(6), 971-996. https://doi.org/10.1111/jpim.12218

    • Bhaskarabhatla, A., & Pennings, E. (2014). Defensive Disclosure of Patentable Inventions under Antitrust Enforcement. Industry and Innovation, 21(7), 533-552. https://doi.org/10.1080/13662716.2014.987452

    • Pennings, E. (2011). Unionization Structure, Licensing and Innovation. International Journal of Industrial Organization, 29(2), 232-241. https://doi.org/10.1016/j.ijindorg.2010.06.001

    • Pennings, E., & Sereno, L. L. (2011). Evaluating Pharmaceutial R&D udner Technical and Economic Uncertainty. European Journal of Operational Research, 212(2), 374-385. https://doi.org/10.1016/j.ejor.2011.01.055

    • Bekkum, S., Smit, H., & Pennings, E. (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management - FM, 40(4), 911-940. https://doi.org/10.1111/j.1755-053X.2011.01166.x

    • Duso, T., Pennings, E., & Seldeslachts, J. (2010). Learning dynamics in research alliances: A panel data analysis. Research Policy, 39(6), 776-789. https://doi.org/10.1016/j.respol.2010.03.002

    • Hoogendoorn, B., Pennings, E., & Thurik, R. (2010). What do we know about social entrepreneurship? An analysis of empirical research. International Review of Entrepreneurship, 8(2), 71-112.

    • Bekkum, S., Pennings, E., & Smit, H. (2009). A Real Options Perspective on R&D Portfolio Diversification. Research Policy, 38(7), 1150-1158. https://doi.org/10.1016/j.respol.2009.03.009

    • Pennings, E., & Altomonte, C. (2009). Domestic plant productivity and incremental spillovers from foreign direct investment. Journal of International Business Studies, 40(7), 1131-1148. https://doi.org/10.1057/jibs.2008.99

    • Pennings, E. (2008). Privatization of real options. Journal of Comparative Economics, 36(3), 489-497. https://doi.org/10.1016/j.jce.2008.05.003

    • Altomonte, C., & Pennings, E. (2008). Learning from foreign investment by rival firms: theory and evidence. International Journal of Industrial Organization, 26(5), 1203-1217. https://doi.org/10.1016/j.ijindorg.2007.12.002

    • Coucke, K., Pennings, E., & Sleuwaegen, LIE. (2007). Employee layoff under different modes of restructuring exit, downsizing or relocation. Industrial and Corporate Change, 16(2), 161-182. https://doi.org/10.1093/icc/dtm002

    • Sleuwaegen, LIE., & Pennings, E. (2006). International Relocation of Production: Where do Firms Go? Scottish Journal of Political Economy, 53(4), 430-446. https://doi.org/10.1111/j.1467-9485.2006.00388.x

    • Pennings, E., & 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. https://doi.org/10.1111/j.1468-0084.2006.00178.x

    • Mukherjee, A., & Pennings, E. (2006). Tariffs, licensing and market structure. European Economic Review, 50, 1699-1707. https://doi.org/10.1016/j.euroecorev.2005.08.005

    • Pennings, E. (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, E., & Sleuwaegen, LIE. (2004). The choice and timing of foreign direct investment under uncertainty. Economic Modelling, 21(6), 1101-1115. https://doi.org/10.1016/j.econmod.2004.02.003

    • Pennings, E. (2004). Optimal Pricing and Quality Choice when Investment in Quality is Irreversible. The Journal of Industrial Economics, 52, 569-589.

    • Pennings, E. (2004). Imitation, Patent Protection and Welfare. Oxford Economic Papers, 56, 715-733.

    • Lint, O., & Pennings, E. (2003). The recently chosen digital video standard: Playing the game within the game. Technovation, 23(4), 297-306. https://doi.org/10.1016/S0166-4972(01)00118-3

    • Pennings, E. (2003). The V-Shaped Value Evolution of R&D Projects. Applied Economics Letters, 10(1), 27-32.

    • Pennings, E. (2001). Price or quantity setting under uncertain demand and capacity constraints: An examination of the profits. Journal of Economics, 74, 157-171.

    • Natter, M., & Pennings, E. (2001). Strategic Diversificaton and capacity utilisation. International Journal of Production Economics, 72, 261-272.

    • Natter, M., & Pennings, E. (2001). Strategic diversification and capacity utilisation. International Journal of Production Economics, 72, 261-272.

    • Lint, LJO. O., & Pennings, E. (2001). An option approach to the new product development process: a case study at Philips electronics. R and D Management, 31(2), 163-172.

    • Pennings, E. (2000). Taxes and Stimuli of Investment under Uncertainty. European Economic Review, 44, 383-391. https://doi.org/10.1016/S0014-2921(98)00078-6

    • Pennings, E., & Lint, LJO. O. (2000). Market Introduction, Phased Rollout or Abandonment? A Real Option Approach. European Journal of Operational Research, 124, 125-138. https://doi.org/10.1016/S0377-2217(99)00121-6

    • Sleuwaegen, LIE., & Pennings, E. (2000). International relocation: Firm and industry determinants. Economics Letters, 67(2), 179-186.

    • Lint, LJO. O., Pennings, E., & Natter, M. (1999). Optionsmanagement in F&E: Eine Fallstudie. Zeitschrift fur Betriebswirtschaft, 51(10), 990-1006.

    • Pennings, E. (1998). How to Finance your Investment Opportunity Internally: A Note. The Journal of Futures Markets, 18, 599-604.

    • Lint, LJO. O., & Pennings, E. (1998). Financiën en strategie:time-to-wait or time- to-market. MAB, 71(3), 117-125.

    • Lint, LJO. O., & Pennings, E. (1998). Een reële optieanalyse van het gelijktijdig ontwikkelen van twee produktstandaarden. MAB, 72(1/2), 60-66.

    • Pennings, E., & Lint, O. (1997). The option value of advanced R & D. European Journal of Operational Research, 103(1), 83-94. https://doi.org/10.1016/S0377-2217(96)00283-4

    • Lint, LJO. O., & Pennings, E. (1997). Financiën en strategie: time-to-wait or time-to-market? MAB, 117-125.

    • Lint, LJO. O., & Pennings, E. (1995). Optiemanagement bij investeringen in nieuwe technologie. Holland Management Review, 44-45.

  • Professional (5)
    • Karreman, B., Nacken, T., & Pennings, E. (2013). Arabische lente voor de EBRD. Internationale Spectator, 67(4), 46-51.

    • Karreman, B., & Pennings, E. (2011). De volgende fusie- en overnamegolf. Economisch-Statistische Berichten, 96(4619), 589-591.

    • Lint, LJO. O., & Pennings, E. (1998). De recent overeengekomen videostandaard: een standaardanalyse deel II. Bedrijfskunde, 70(2), 83-89.

    • Lint, LJO. O., & Pennings, E. (1998). De recent overeengekomen digitale videostandaard, deel I. Bedrijfskunde, 70(1), 39-44.

    • Lint, LJO. O., & Pennings, E. (1998). R&D als optie op marktintroductie. Bedrijfskunde, 69(1), 61-67.

  • Professional (1)
    • van der Laan, L., & Pennings, E. (2009). Organizations in a Dynamic Environment. Wiley Higher Education.

  • Academic (4)
    • Hoogendoorn, B., Pennings, E., & Thurik, 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). Routledge. http://hdl.handle.net/1765/38346

    • Sleuwaegen, LIE., & Pennings, E. (2001). Relocation and public aid: a first report. In M. J-L. Dunning, J.H. (Ed.), Multinational firms' strategies: The local-global dilemma (pp. 178-189). Routledge. Studies in global competition series

    • Lint, LJO. O., & Pennings, E. (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). RISK Publishers.

    • Lint, LJO. O., & Pennings, E. (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). Samsom.

  • Academic (2)
    • Fleten, SE., Huisman, R., Kilic, M., Pennings, E., & Westgaard, S. (2015). Electricity futures prices: time varying sensitivity to fundamentals. In Risk (Vol. 8, pp. 1-22). Journal of Energy Markets. 4 https://doi.org/10.21314/JEM.2015.136

    • Emami Namini, J., & Pennings, E. (2009). Horizontal multinational firms, vertical multinational firms and domestic investment. In Tinbergen Institute Discussion Paper 2009-004/2 https://doi.org/10.2139/ssrn.1330801

  • Internal (1)
    • Pennings, E. (1998). Real options and managerial decision making. Erasmus University Rotterdam.

  • Popular (1)
    • Pennings, E. (2010). Does contract complexity limit opportunities? Vertical organisation and flexibility. Erasmus Research Institute of Management. http://hdl.handle.net/1765/20457

  • Academic (1)
    • Pennings, E., & Sleuwaegen, LIE. (2002). The reorganization decisions of troubled firms: exit, downscale or relocate, 21 pag.

  • Academic (4)
    • Hoogendoorn, B., Pennings, E., & Thurik, R. (2009). What do we know about social entrepreneurship: an analysis of empirical research. (Report ERS-2009-044-ORG ed.) ERIM. Report Vol. ERS-2009-044-ORG

    • Lint, LJO. O., & Pennings, E. (1999). The option approach to the new product development process. (RIBES 99-31 ed.) RIBES Vol. 99-31

    • Sleuwaegen, LIE., & Pennings, E. (1999). The choice and timing of foreign market entry under uncertainty. Mimeo.

    • Sleuwaegen, LIE., & Pennings, E. (1999). Exit or Relocation under Uncertainty? Theory and Evidence. Mimeo.

  • Professional (1)
    • Meijaard, J. J., van Fraassen, M., Prince, Y., Hek, P., Nacken, T., Karreman, B., Pennings, E., & Belderbos, RA. R. (2020). Evaluatie van de NFIA 2010-2018. MIR i.o.v. Ministerie van Economische Zaken en Klimaat.

  • Technovation (Journal)

    Editorial work (Academic)

  • Role: Co-promotor
  • PhD Candidate: Lenny Pattikawa
  • Time frame: 2002 - 2007
  • Role: Member Doctoral Committee
  • PhD Candidate: Haibo Zhou
  • Time frame: 2006 - 2010
  • Role: Member Doctoral Committee
  • PhD Candidate: Peter van der Zwan
  • Time frame: 2007 - 2011
  • Role: Promotor
  • PhD Candidate: Bas Karreman
  • Time frame: 2006 - 2011
  • Role: Member Doctoral Committee
  • PhD Candidate: Pourya Darnihamedani
  • Time frame: 2012 - 2016
  • Role: Promotor, Daily Supervisor
  • PhD Candidate: Caroline Witte
  • Time frame: 2013 - 2018
  • Role: Member Doctoral Committee
  • PhD Candidate: Nishad Matawlie
  • Time frame: 2015 - 2020
2014
March
14
Research Seminar
As: Contact, Coordinator
2014
March
14
2014
March
07
Research Seminar
As: Contact, Coordinator
2011
December
15
2011
March
04
2011
March
02
Research Seminar
As: Coordinator
2011
February
25
2009
June
25
Research Seminar
As: Coordinator
2008
March
26
2008
March
19
2008
March
05

Address

Visiting address

Office: N3-10
Burgemeester Oudlaan 50
3062 PA Rotterdam

Postal address

Postbus 1738
3000 DR Rotterdam
Netherlands