Mark DesJardine

Color portrait of Mark DesJardine

Assistant Professor

Department Management and Organization

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 financial markets shape the investment horizons and sustainability of publicly-traded companies. Through this work, Mark helps managers balance their short- and long-term priorities, ultimately seeking to build stronger, more sustainable companies. His work has been published in: 1) leading academic journals, such as the Academy of Management Journal, Strategic Management Journal, Organization Science, Journal of Management, and Strategic Organization; 2) mainstream 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 serves on the Editorial Boards of 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, skiing, and white water kayaking.

Expertise

Business sustainability / Corporate social responsibility
Shareholder activism / Hedge fund activism
Corporate strategy
Corporate short-termism

Education

Ph D, Strategy and Sustainability, Western University, 2016

CFA Charterholder, CFA Institute, 2013

Courses Taught

ENGR 425 – New Venture (3)
Via problem-based learning, teams define new business ventures to meet current market needs, develop business plans, and present to investors. ENGR 425ENGR (MGMT/IST/ENTR) 425 Introduction to Entrepreneurship (3) The goal of ENGR (MGMT/IST/ENTR) 425 is to better prepare undergraduate students to be business leaders in adaptive, globally-minded, technology-savvy companies. The course is structured so students develop skills that are of high value in any workplace: they develop improved leadership skills, higher self-efficacy, creativity and the ability to deal with ambiguity. On 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 executive summary for internal or external financing and launch. Students who want to augment the skills and knowledge from their major with the ability to refine a new product/service process in an interdisciplinary team will find ENGR (MGMT/IST/ENTR) 425 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 learning happens in this course because students develop ownership in their new business venture concept and are fully responsible for the genesis of the idea. The course leverages the on-line course management system (ANGEL) to define weekly learning objectives, support electronic delivery of assignments, robust video content with entrepreneurs is provided on CD-ROM or via ANGEL, providing additional insights into entrepreneurship. The technology or business segment focus of the class is easily adapted by using different case studies and course mentors.This will be one of two courses in the new two-course sequence for business students in entrepreneurship. This course will be accepted as a supporting course in the Engineering Entrepreneurship Minor (E-SHIP) and in the Engineering Leadership Development Minor (ELDM). ENGR (MGMT/IST/ENTR) 425 can be used as a technical elective in many of the engineering departments. It will be accepted as a Support of Option course for the Information Sciences and Technology (IST) major.This course will be offered each Fall and Spring semester with two sections each semester. Class enrollment per section will be set at 60 total.

IST 425 – New Venture (3)
Via problem-based learning, teams define new business ventures to meet current market needs, develop business plans, and present to investors. ENGR 425ENGR (MGMT/IST/ENTR) 425 Introduction to Entrepreneurship (3) The goal of ENGR (MGMT/IST/ENTR) 425 is to better prepare undergraduate students to be business leaders in adaptive, globally-minded, technology-savvy companies. The course is structured so students develop skills that are of high value in any workplace: they develop improved leadership skills, higher self-efficacy, creativity and the ability to deal with ambiguity. On 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 executive summary for internal or external financing and launch. Students who want to augment the skills and knowledge from their major with the ability to refine a new product/service process in an interdisciplinary team will find ENGR (MGMT/IST/ENTR) 425 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 learning happens in this course because students develop ownership in their new business venture concept and are fully responsible for the genesis of the idea. The course leverages the on-line course management system (ANGEL) to define weekly learning objectives, support electronic delivery of assignments, robust video content with entrepreneurs is provided on CD-ROM or via ANGEL, providing additional insights into entrepreneurship. The technology or business segment focus of the class is easily adapted by using different case studies and course mentors.This will be one of two courses in the new two-course sequence for business students in entrepreneurship. This course will be accepted as a supporting course in the Engineering Entrepreneurship Minor (E-SHIP) and in the Engineering Leadership Development Minor (ELDM). ENGR (MGMT/IST/ENTR) 425 can be used as a technical elective in many of the engineering departments. It will be accepted as a Support of Option course for the Information Sciences and Technology (IST) major.This course will be offered each Fall and Spring semester with two sections each semester. Class enrollment per section will be set at 60 total.

MGMT 425 – New Venture (3)
Via problem-based learning, teams define new business ventures to meet current market needs, develop business plans, and present to investors. ENGR 425ENGR (MGMT/IST/ENTR) 425 Introduction to Entrepreneurship (3) The goal of ENGR (MGMT/IST/ENTR) 425 is to better prepare undergraduate students to be business leaders in adaptive, globally-minded, technology-savvy companies. The course is structured so students develop skills that are of high value in any workplace: they develop improved leadership skills, higher self-efficacy, creativity and the ability to deal with ambiguity. On 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 executive summary for internal or external financing and launch. Students who want to augment the skills and knowledge from their major with the ability to refine a new product/service process in an interdisciplinary team will find ENGR (MGMT/IST/ENTR) 425 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 learning happens in this course because students develop ownership in their new business venture concept and are fully responsible for the genesis of the idea. The course leverages the on-line course management system (ANGEL) to define weekly learning objectives, support electronic delivery of assignments, robust video content with entrepreneurs is provided on CD-ROM or via ANGEL, providing additional insights into entrepreneurship. The technology or business segment focus of the class is easily adapted by using different case studies and course mentors.This will be one of two courses in the new two-course sequence for business students in entrepreneurship. This course will be accepted as a supporting course in the Engineering Entrepreneurship Minor (E-SHIP) and in the Engineering Leadership Development Minor (ELDM). ENGR (MGMT/IST/ENTR) 425 can be used as a technical elective in many of the engineering departments. It will be accepted as a Support of Option course for the Information Sciences and Technology (IST) major.This course will be offered each Fall and Spring semester with two sections each semester. Class enrollment per section will be set at 60 total.

Selected Publications

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., Shi W., "CEO Temporal Focus and Behavioral Agency Theory: Evidence from Mergers and Acquisitions." Academy of Management Journal, 2020
DesJardine M., Durand R., "Disentangling the Effects of Hedge Fund Activism on Firm Financial and Social Performance." Strategic Management Journal, 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

"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
"Shareholder activism: The weekly wrap", Activist Insight, Web
"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", US News, Newspaper, money.usnews.com/investing/news/articles/2020-06-23/companies-that-spend-on-social-causes-risk-hedge-fund-challenge-study
"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
"Activist Hedge Funds Hurt Sustainability", Network for Business Sustainability, Web, www.nbs.net/articles/activist-hedge-funds-hurt-sustainability
"Does hedge fund activism impact the long-term sustainability of companies?", Principles for Responsible Investing, Web, 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
"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

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