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Wei   Shi

Wei Shi

Associate Professor, Management

Research Interests

Corporate governance; corporate strategy; and location choice strategy

Featured Publications

  • *denotes equal contribution and denotes co-authorship with students. 


    Shi, W., Gao., C., & Aguilera, R. “The Liabilities of Foreign Institutional Ownership:  Managing Political Dependence Through Corporate Political Spending.” In press, Strategic Management Journal.  

    Shi, W., & Veenstra, K. “The moderating effect of cultural values on the relationship between corporate social performance and firm performance.” In press, Journal of Business Ethics. 

    Li, J., Shi, W., Connelly, B., Yi, X., & Qin, X. “CEO awards and financial misconduct.” In press, Journal of Management. 

    Connelly, B., Shi, W., Walker, J., & Hersel, M. “Searching for a sign: CEO successor selection in the wake of misconduct.” In press, Journal of Management.

    *Connelly, B., Li., Q., Shi, W., & Lee, K. “CEO dismissal: Consequences for the strategic risk taking of competitor CEOs.” In press, Strategic Management Journal.  

    Shi, W., Ndofor, H., & Hoskisson, R. “Disciplining role of short sellers: Evidence from M&A activity.” In press, Journal of Management.

    *Desjardine, M., & Shi, W. “CEO temporal focus and behavioral agency theory: Evidence from mergers and acquisitions.” In press, Academy of Management Journal.

    Shi, W., Connelly, B., Hoskisson, R., & Ketchen, D. “Portfolio spillover of institutional investor activism: An awareness-motivation-capability perspective.” In press, Academy of Management Journal.

    Li, Y., Zhang, Y. A., & Shi, W. 2020. Navigating geographic and cultural distances in international expansion: The paradoxical roles of firm size, age, and ownership. Strategic Management Journal, 41(5): 921-949.

    *Jiang, F., Shi, W., & Zheng, X. 2020. Board chairs and R&D investment: Evidence from Chinese family-controlled firms. Journal of Business Research, 112: 109-118.

    Shi, W., Aguilera, R., & Wang, K. 2020. “State Ownership and Securities Fraud: A Political Governance Perspective.” Corporate Governance: An International Review, 28(2) 157-176.

    Shi, W., Connelly, B., Mackey, J., & Gupta, A. 2019. Placing their bets: The influence of strategic investment on CEO pay-for-performance. Strategic Management Journal, 40(12): 2047-2077.

    Connelly, B. L., Shi, W., Hoskisson, R. E., & Koka, B. 2019. Institutional investor influence on joint venture exploration and exploitation. Journal of Management, 45(8): 3178-3203.

    Shi, W., Zhang, Y., & Hoskisson, R. E. 2019. Examination of CEO-CFO Social Interaction through Language Style Matching: Outcomes for the CFO and the Organization. Academy of Management Journal, 62(2): 383-414.

    Shi, W., Connelly, B. L., & Cirik, K. 2018. Short Seller Influence on Firm Growth: A Threat-Rigidity Perspective. Academy of Management Journal, 61(5): 1892-1919.

    Shi, W., & Connelly, B. 2018. Is regulatory adoption ceremonial? Evidence from lead director appointments. Strategic Management Journal. 39(8): 2386-2413.  

    Shi, W., Pathak, S. Song, J. & Hoskisson, R. 2018. The adoption of chief diversity officers among S&P 500 firms: Institutional, resource dependence, and upper echelons accounts. Human Resource Management. 57(1): 83-96.

    Shi, W., Zhang, Y., & Hoskisson, R. E. 2017. Ripple effects of CEO awards: Investigating the acquisition activities of superstar CEOs’ competitors. Strategic Management Journal. 38(10): 2080–2102.

    Schuler, D., Shi, W., Hoskisson, R. E., & Chen, T. 2017. Windfalls of “emperors’ sojourns”: Stock market reactions to Chinese firms hosting high ranking government officials. Strategic Management Journal. 38(8): 1668-1687.

    Connelly, B., Shi, W., & Zyung, J. 2017. Managerial response to constitutional constraints on shareholder power. Strategic Management Journal. 38(7): 1499-1517.

    Shi, W., Connelly, B., & Hoskisson, R. E. 2017. External corporate governance and financial fraud: Cognitive evaluation theory insights on agency theory prescriptions. Strategic Management Journal. 38(6): 1268–1286. 

    Shi, W., Hoskisson, R. E., & Zhang, Y. 2017. Independent director death and CEO acquisitiveness: Build an empire or pursue a quiet life? Strategic Management Journal. 38(3): 780–792.

    Shi, W., Connelly, B. L., & Sanders, W. G. 2016. Buying bad behavior: Tournament incentives and securities class action lawsuits. Strategic Management Journal, 37(7): 1354–1378.

    Shi., W., Hoskisson R, E. & Zhang Y. 2016. A geopolitical perspective into the opposition to globalizing state-owned enterprises in target states. Global Strategy Journal, 6(1): 13–30.

    Shi, W., & Tang, Y. 2015. Cultural similarity as in-group favoritism: The impact of religious and ethnic similarity on alliance formation and announcement returns. Journal of Corporate Finance, 34: 32-46.

    Hoskisson, R. E., Shi, W., Yi, X., & Jin, J. 2013. The evolution and strategic positioning of private equity firms. Academy of Management Perspectives, 27(1): 22-38.


Teaching and Professional Experience

  • Assistant Professor, Kelley School of Business, Indiana University, 2016-2018
  • Business Analyst, Yantai Wanhua America Co. Ltd., Philadelphia, Pennsylvania, 2010
  • Business Analyst, Miller Energy LLC, New Orleans, Louisiana, 2009
  • Assistant to CEO, Yantai Wanhua Polyurethanes Co. Ltd., Yantai, China, 2005-2008
  • Investment Commissioner, Investment Promotion Bureau of YEDA, Yantai, China, 2004-2005


  • Ph.D., Strategic Management, Rice University
  • MBA, Finance, Tulane University
  • B.A., English Literature, Beijing Foreign Studies University

Honors and Awards

  • Nominated for the 2018 Alan M. Rugman Most Promising Scholar(s) Award, 2018
  • Kelley School of Business Research Award, 2017
  • Finalist SMS Best Conference PhD Paper Prize, 2014
  • Runner-up of 2012 Emerald/IACMR Chinese Management Research Fund Award, 2013
  • Runner-up of 2011 Emerald/IACMR Chinese Management Research Fund Award, 2012
Wei   Shi


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