Mark DesJardine

Color portrait of Mark DesJardine

Assistant Professor

Department Management and Organization
Office Address 415 Business Building
Phone Number 814-865-2463
Email Address desjardine@psu.edu

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Mark is an Assistant Professor of Strategy and Sustainability at Pennsylvania State University’s Smeal College of Business. Prior to joining Smeal, Mark was an Assistant Professor of Strategy and Business Policy at HEC Paris, where he taught and oversaw Strategic Management in the MBA program.

Focusing on corporate short-termism, Mark’s research intersects strategy, sustainability, and finance. His primary focus is on understanding how investors shape the sustainability of companies and their actions toward other stakeholders. His work has been published in: 1) leading academic journals, such as the Academy of Management Journal, Organization Science, and Strategic Management Journal; 2) media outlets, such as Reuters, the New York Times, Bloomberg, Forbes, and the Financial Times; and 3) specialist outlets, such as Harvard Business Review, Principles of Responsible Investing, and Institutional Investor.

Mark has won won numerous awards for his research, including Best Paper Awards (AOM, SMS, ARCS) and People's Choice Awards (ARCS), as well as the Sumantra Ghoshal Research and Practice Award from the Academy of Management (Strategic Management Division). In 2021, Mark won two Emerging Scholar Awards, one from the Academy of Management (Organizations and the Natural Environment Division) and another from the Alliance for Research on Corporate Sustainability, a Responsible Research in Management Award from the Academy of Management Fellows Group, and the Best Article Award from the FIR-Principles of Responsible Investment.

Mark serves on the Editorial Boards of Strategic Management Journal, Organization Science, and Organization & Environment, and is a Representative-at-Large of the Stakeholder Interest Group of the Strategic Management Society.

Mark is a CFA Charterholder and holds a PhD from Western University’s Ivey Business School, where he was awarded the Governor General’s Gold Medal. Outside work, Mark is an avid outdoorsman who enjoys mountain biking, kayaking, and camping.

Expertise

Business sustainability / Corporate social responsibility
Shareholder activism
Corporate governance
Corporate short-termism

Education

Ph D, Strategy and Sustainability, Western University, 2016

CFA Charterholder, CFA Institute, 2013

Courses Taught

ENGR 425 – New Venture Creation (3)
Via problem-based learning, students define new business ventures to meet current market needs, develop business models, and present to various stakeholders. The goal of New Venture Creation is to better prepare undergraduate students to be leaders in adaptive, globally-minded, technology-savvy organizations. The course is structured so students develop skills that are of high value in any workplace: leadership skills, self-efficacy, creativity and the ability to deal with ambiguity. Upon course completion, students will have a working knowledge of traditional and non-traditional ways for identifying a new product or business opportunity, quantifying the potential, understanding the key competitive factors, researching the audience, and producing a convincing plan for financing and launch. Students who want to augment the skills and knowledge from their major with the ability to develop a new product/service/process, will find New Venture Creation a valuable course. This is a novel problem-based learning (PBL) course, where the learning is student-centered, with faculty acting primarily in the role of facilitators. Active/Experiential learning happens in this course because students develop ownership of their venture concepts and are fully responsible for the genesis of ideas.

IST 425 – New Venture Creation (3)
Via problem-based learning, students define new business ventures to meet current market needs, develop business models, and present to various stakeholders. The goal of New Venture Creation is to better prepare undergraduate students to be leaders in adaptive, globally-minded, technology-savvy organizations. The course is structured so students develop skills that are of high value in any workplace: leadership skills, self-efficacy, creativity and the ability to deal with ambiguity. Upon course completion, students will have a working knowledge of traditional and non-traditional ways for identifying a new product or business opportunity, quantifying the potential, understanding the key competitive factors, researching the audience, and producing a convincing plan for financing and launch. Students who want to augment the skills and knowledge from their major with the ability to develop a new product/service/process, will find New Venture Creation a valuable course. This is a novel problem-based learning (PBL) course, where the learning is student-centered, with faculty acting primarily in the role of facilitators. Active/Experiential learning happens in this course because students develop ownership of their venture concepts and are fully responsible for the genesis of ideas.

MGMT 425 – New Venture Creation (3)
Via problem-based learning, students define new business ventures to meet current market needs, develop business models, and present to various stakeholders. The goal of New Venture Creation is to better prepare undergraduate students to be leaders in adaptive, globally-minded, technology-savvy organizations. The course is structured so students develop skills that are of high value in any workplace: leadership skills, self-efficacy, creativity and the ability to deal with ambiguity. Upon course completion, students will have a working knowledge of traditional and non-traditional ways for identifying a new product or business opportunity, quantifying the potential, understanding the key competitive factors, researching the audience, and producing a convincing plan for financing and launch. Students who want to augment the skills and knowledge from their major with the ability to develop a new product/service/process, will find New Venture Creation a valuable course. This is a novel problem-based learning (PBL) course, where the learning is student-centered, with faculty acting primarily in the role of facilitators. Active/Experiential learning happens in this course because students develop ownership of their venture concepts and are fully responsible for the genesis of ideas.

Selected Publications

Desjardine M. R., Shi W., Sun Z., "Different Horizons: The Effects of Hedge Fund Activism versus Corporate Shareholder Activism on Strategic Actions." Journal of Management, 2021
Shi W., DesJardine M. R., "Under Attack! CEO Implicit Motives and Firm Competitive Responses Following Short Seller Activism." Organization Science, 2021
DesJardine M., Shi W., "How Temporal Focus Shapes the Influence of Executive Compensation on Risk Taking." Academy of Management Journal, vol. 64, no. 1, 2021, pp. 265-292
DesJardine M. R., Marti E., Durand R., "Activist Hedge Funds Target Corporate Social Responsibility." Academy of Management Insights, 2020, journals.aom.org/doi/epub/10.5465/amj.2019.0238.summary
DesJardine M., Marti E., Durand R., "Why Activist Hedge Funds Target Socially Responsible Firms: The Reaction Costs of Signaling Corporate Social Responsibility." Academy of Management Journal, 2020
DesJardine M. R., Durand R., "La vérité sur l’impact des fonds spéculatifs activistes." Harvard Business Review France, 2020, www.hbrfrance.fr/chroniques-experts/2020/02/29317-la-verite-sur-limpact-des-fonds-speculatifs-activistes/
DesJardine M., Durand R., "Disentangling the Effects of Hedge Fund Activism on Firm Financial and Social Performance." Strategic Management Journal, vol. 41, no. 6, 2020, onlinelibrary.wiley.com/doi/10.1002/smj.3126
Best Paper (ARCS 2019)
DesJardine M., Bansal P., Yang Y., "Bouncing Back: Building Resilience Through Social and Environmental Practices in the Context of the 2008 Global Financial Crisis." Journal of Management, vol. 45, no. 4, 2019, pp. 1434–1460, doi:10.1177/0149206317708854
DesJardine M., Bansal P., "One Step Forward, Two Steps Back: How External Evaluations Can Shorten Organizational Time Horizons." Organization Science, 2019, pubsonline.informs.org/doi/full/10.1287/orsc.2018.1259
DesJardine M., "Under Pressure: The Causal Effect of Financial Analyst Coverage on Long-Term Capital Investments." Academy of Management Best Paper Proceedings, 2015
Sumantra Ghoshal Research and Practice Award by STR Division (Academy of Management).
Bansal P., DesJardine M., "Business Sustainability: It is about Time." Strategic Organization, vol. 12, no. 1, 2014, pp. 70-78
5-year SO! WHAT Award (Best Paper)

Research Impact and Media Mentions

"[Lead article] Engine No. 1’s big win over Exxon shows activist hedge funds joining fight against climate change", The Conversation, Newspaper, theconversation.com/engine-no-1s-big-win-over-exxon-shows-activist-hedge-funds-joining-fight-against-climate-change-159983
"Sustainability under attack: Lessons from Danone", New Climate Capitalism, Podcast, climatenarrativesannotated.substack.com/p/-17-sustainability-under-attack-lessons
"Do Hedge Funds Create Value? Lessons From Danone And Unilever", Forbes, Journal or Magazine, www.forbes.com/sites/timabansal/2021/04/15/how-hedge-funds-are-destroying-corporations-and-society/?sh=200aaa067ead
"Danone CEO Faber ousted: "a short term win for activist investors that puts profit before purpose"", France24, Television, www.youtube.com/watch?v=6LBjkELsQXI
"The Net Negative Effects Of Hedge Fund Activism In Pension Portfolios: Assessing the Harm to Stakeholders and Long-Term Value", National Conference on Public Employee Retirement Systems, Trade Association
"Ethical CSR focus triggers hostile investor activism, study finds", The Financial Times, Newspaper, www.ft.com/content/2ab06d51-bb6d-4f41-88cf-b220b2a4bcd1?shareType=nongift#comments-anchor
"Increasing Diversity And Profits? Investors Think Companies Can’t Do Both", Forbes, Journal or Magazine, www.forbes.com/sites/kimelsesser/2020/07/20/increasing-diversity-and-profits-investors-think-companies-cant-do-both/#31749c7322bc
"Why Activist Hedge Funds Target Socially Responsible Firms, and How Executives and Investors Can Counteract Them", Knowledge@HEC, Internet, www.hec.edu/en/knowledge/articles/why-activist-hedge-funds-target-socially-responsible-firms-and-how-executives-and-investors-can-counteract-them
"Shareholder activism: The weekly wrap", Activist Insight, Internet
"Activist Hedge Funds Can Smell Greenwashing, Study Finds", Institutional Investor, Journal or Magazine, www.institutionalinvestor.com/article/b1m72r85v3slnb/Activist-Hedge-Funds-Can-Smell-Greenwashing-Study-Finds#.XvYYeO8W68U.twitter
"Companies That Spend on Social Causes Risk Hedge Fund Challenge: Study", The New York Times, Newspaper, www.nytimes.com/reuters/2020/06/23/business/23reuters-companies-hedgefunds-socialresponsibility.html
"Companies That Spend on Social Causes Risk Hedge Fund Challenge: Study", US News, Newspaper, money.usnews.com/investing/news/articles/2020-06-23/companies-that-spend-on-social-causes-risk-hedge-fund-challenge-study
"Activist Hedge Funds Hurt Sustainability", Network for Business Sustainability, Internet, www.nbs.net/articles/activist-hedge-funds-hurt-sustainability
"Does hedge fund activism impact the long-term sustainability of companies?", Principles for Responsible Investing, Internet, www.unpri.org/pri-blog/does-hedge-fund-activism-impact-the-long-term-sustainability-of-companies/5923.article
"Reconsidering Activism in France", Wachtell Lipton Rosen & Katz, Law Firm
"Hedge Funds Will Be Collateral Damage in Japan", Bloomberg, Newspaper, www.bloomberg.com/opinion/articles/2020-04-19/coronavirus-japan-inc-will-pull-cash-off-table-for-hedge-funds
"Activist Attacks and Firm Value", Wachtell Lipton Rosen & Katz, Law Firm
"Activist Hedge Funds Hurt Businesses in the Long Run", Institutional Investor, Journal or Magazine, www.institutionalinvestor.com/article/b1ksg0cq4454hc/Activist-Hedge-Funds-Hurt-Businesses-in-the-Long-Run
"Activist Hedge Funds: Short-Term Gains Offset By Drop in Companies’ Value in Long Term, New Research Finds", China Daily, CRI Online, China.com, Shhcgroup.cn, Newspaper, caijing.chinadaily.com.cn/a/202003/12/WS5e69f51fa3107bb6b57a60d0.html
"Activist Hedge Funds: Good for Some, Bad for Others?", Knowledge@HEC, Internet, www.hec.edu/en/knowledge/articles/activist-hedge-funds-good-some-bad-others
"La vérité sur l’impact des fonds spéculatifs activistes", Harvard Business Review France, Journal or Magazine, www.hbrfrance.fr/chroniques-experts/2020/02/29317-la-verite-sur-limpact-des-fonds-speculatifs-activistes/
"Moral Money", Financial Times, Newspaper, www.ft.com/content/a6ebba24-632b-11ea-b3f3-fe4680ea68b5
"Do corporate mega mergers inhibit social responsibility?", The Guardian, Newspaper, www.theguardian.com/sustainable-business/2015/jun/10/monsanto-coca-cola-pepsico-syngenta-mega-merger
"Don't Confuse Sustainability with Corporate Social Responsibility", Huffington Post, Journal or Magazine, www.huffingtonpost.ca/ivey-business-school/sustainable-business_b_5678831.html

Editorships

Strategic Management Journal, Editorial Board, (onlinelibrary.wiley.com/page/journal/10970266/homepage/editorialboard.html), September 2020 - December 2023
Organization Science, Editorial Board, (pubsonline.informs.org/page/orsc/editorial-board), July 2020 - July 2022
Organization & Environment, Editorial Board, (journals.sagepub.com/editorial-board/oae), February 2020 - February 2023