Poe Family Distinguished Fellow in Entrepreneurship

Michael Reto Braun, Ph.D.

Poe Family Distinguished Fellow in Entrepreneurship

Professor, Management (Full – Tenured)

Management and Marketing Department

School of Business Administration

University of Montana

Missoula, MT 59812

e-mail:

EDUCATION

Ph.D.,Strategic Management;University of Massachusetts, Amherst,MA;September 2006;

Dissertation Title: The Governance of Reverse Leverage Buyouts.

Dissertation Chair: Anurag Sharma, Ph.D.

M.B.A.Marshall School of Business, University of Southern California, Los Angeles, CA,June 1999

M.A.Business of Publishing; New York University, New York, NY, June 1995

B.A. Asian Studies; Cornell University, Ithaca, NY, June 1992

ACADEMIC HONORS

Recipient, Poe Family Distinguished Fellowship in Entrepreneurship, School of Business Administration, University of Montana, 2017 – Present.
Recipient, Poe Family Faculty Fellowship, School of Business Administration, University of Montana, 2012 – 2017
Most Inspirational Teacher of the Year Award,University of Montana, 2010. Voted on by students in recognition of a professor who has had an extraordinary impact on their lives.
Researcher of the Year Award,University of Montana, 2016-2017.
Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2016-2017.
Outstanding Management Faculty, School of Business Administration, University of Montana, 2015 – 2016.
Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2014 – 2015.
Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2014 – 2015.
Outstanding Management Professor, School of Business Administration, University of Montana, 2012 – 2013.
Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2012 – 2013.
Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2012 – 2013.
Outstanding Management Professor, School of Business Administration, University of Montana, 2010 – 2011.
Outstanding Daytime MBA Professor, School of Business Administration, University of Montana, 2010 – 2011.
Outstanding OCMBA Professor, School of Business Administration, University of Montana, 2010 – 2011.

Laffranchini, G., Braun, M. & Kim, S. “The Price Tag of Family Business Investments: Trading Entrepreneurship for Socioemotional Wealth.” Recipient – Best Paper Award in Family Business. USASBE (United States Association for Small Business and Entrepreneurship), Philadelphia, January 2017.

Emerald Group Publishing “Outstanding Paper Award” Recipient forauthoring article entitled “Economic Recessions, Strategy, and Performance: A Synthesis,” in Journal of Strategy and Management.
Emerald Group Publishing “Highly Commended Award” Recipient forauthoring article entitled “When the Big "R" Hits Home: Governance in Family Firms during Economic Recession,” in Journal of Strategy and Management.
Outstanding Management Professor, School of Business Administration, University of Montana, 2008 – 2009.
Outstanding Management Professor, School of Business Administration, University of Montana, 2006 – 2007.
Awarded $8,000 University of Massachusetts Graduate School Fellowship Award for Outstanding Doctoral Student, University of Massachusetts, 2004-2005. [University-wide competition].
Recipient, Hearst Graduate Student Fellowship, New York University, 1992.

PUBLISHED BOOKS & BOOK CHAPTERS

Braun, M. & Latham, S. 2014. Mastering Strategy: Workshops for Business Success. Published by Praeger Publishers (an imprint of ABC-CLIO). Additional resources at .
Braun, M. & Latham, S. 2010. “Perceptions, Processes, and Performance during Organizational Decline.” Special Topics Book Chapter inHandbook of Research on Strategy Process: Edward Elgar Publishing.

SCHOLARLY AND PROFESSIONAL JOURNAL PUBLICATIONS

Laffranchini, G., Hadjimarcou, J., Kim, S. & Braun, M. “The Internationalization of Family Firms: A Signal Detection Approach” Journal of Family Business Management, 6(3), 291-309.
Braun, M. & Douma, B. 2016. “Podere Riosto: A ‘Forchetta’ in the Road.” Wine Business Case Research Journal, 1(1), 44-57.
Braun, M., Latham, S. & Porschitz, E. 2015. “All Together Now: Strategy Mapping for Family Businesses.” Journal of Business Strategy, 37(1). Lead Article.
McKinley, W., Latham, S. & Braun, M. “Don’t treat innovation as a cure-all.” Harvard Business Review Online, December 8, 2014.
Braun, M. & Porschitz, E. 2014. “Overcoming the Challenges of Family Business.” Business Monadnock, 2(3).
Laffranchini, G. & Braun, M. “Slack in Family Firms: Evidence from Italy (2006-2010)” Journal of Family Business Management, 4(2).
McKinley, W., Latham, S. & Braun, M. 2014. “Organizational Decline and Innovation: Turnaround and Downward Spirals” Academy of Management Review, 39(1), 88-110.
Braun, M. & Latham, S. 2012. “Pulling off the Comeback: Shrink, Expand, Neither, Both?" Journal of Business Strategy, 33(3), 13-21.
Braun, M., Zacharias, L. & Latham, S. 2011. “Family-controlled Firms versus Leveraged Buyouts:A Comparative Assessment of Superior Governance Structures.” Journal of Family Business Management, 1(2), 89 – 106.
Latham, S. & Braun, M. 2011.“Economic Recessions, Strategy, and Performance: A Synthesis.” Journal of Strategy and Management, 4(2). Lead Article. Recipient of Outstanding Paper Award, Emerald Publishing.
Latham, S. & Braun, M. 2010. “To IPO or not to IPO: CEO ownership, market uncertainty, and the decision to go public.” British Journal of Management, Special Issue: An international forum advancing theory and research.21(3).
Latham, S. & Braun, M. 2010. “Does Short-termism Influence Firm Innovation? An Examination of S&P 500 Firms, 1990 - 2003.” Journal of Managerial Issues, 22(3).
Latham, S. & Braun, M. 2010. “Jilted? The manager's little book for keeping customers in a recession.” InJournal of Business Strategy, 31(1). Lead article.
Braun, M. & Latham, S. 2009. “When the Big "R" Hits Home: Governance in Family Firms during Economic Recession.” InJournal of Strategy and Management, 2(2). Lead article; Selected for Editor’s Choice; Recipient of Highly Commended Paper Award, Emerald Publishing.
Braun, M. & Latham, S. 2009. “Rethinking Value Creation in Leveraged Buyouts:Board Restructurings over the Public-Private-Public Cycle.” InManagement Decision, 47(5).
Latham, S. & Braun, M. 2009. “Managerial Risk, Innovation, and Organizational Decline.” InJournal of Management, 35(2).
Latham, S. & Braun, M. 2009. “Assessing the Relationship between Financial Slack and Company Performance during an Economic Recession: An Empirical Study”. In International Journal of Management, 26(1), Invited Paper.
Latham, S. & Braun, M. 2008. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”. In Journal of Managerial Issues, 20(1).
Braun, M. & Sharma, A. 2007. “Divisional reverse leveraged buyout:Finishing school or financial arbitrage". In The Journal of Private Equity, 11(1). Lead article. Summarized (by William A. Trent, CFA) and reprinted in CFA Digest, May 2008, 38(2).
Braun, M. & Latham, A. 2007. “The Governance of Going PrivateTransactions: The Leveraged Buyout Board of Directors as a Distinctive Source of Value.” In Management Decision,Special Issue on Investor Influence on Company Management, 33(6).
Braun, M. & Sharma, A. 2007. “Should the CEO Also Be Chair of the Board? An Empirical Examination of Family-Controlled Firms.” In Family Business Review,20(2).

CONFERENCE PROCEEDINGS

Laffranchini, G., Braun, M. & Kim, S. “The Price Tag of Family Business Investments: Trading Entrepreneurship for Socioemotional Wealth.” Recipient – Best Paper Award in Family Business. USASBE (United States Association for Small Business and Entrepreneurship), Philadelphia, January 2017.
Laffranchini, G., Kim, S. & Braun, M. “To Invest or Not to Invest? Capital Expenditures in Italian Family Firms.” Published in proceedings. USASBE(United States Association for Small Business and Entrepreneurship), Tampa, FL2015.
Laffranchini, G., Hadjimarcou, J., Kim S.,Braun, M. “The Internationalization of small family-owned businesses: A signal detection approach.” Published in proceedings. USASBE (United States Association for Small Business and Entrepreneurship), San Francisco, CA, 2013.
Braun, M., Bajwa, Z. & Latham, S. “Risking the Family Fortune: Capital Expenditures during Organizational Decline.” Eastern Academy of Management, Boston, MA, 2011. Published in refereed proceedings.
Braun, M. & Latham, S.“The Governance of Reverse Leveraged Buyouts: The Board of Directors as a Distinctive Source of Shareholder Value.” Western Academy of Management, Missoula, MT, 2007. Published in refereed proceedings.
Braun, M., “Divisional Reverse Leveraged Buyouts: Rethinking Causes and Consequences of the LBO.” Eastern Academy of Management, Springfield, MA, 2005.Published in refereed proceedings.
Braun, M.,“Eclipse of LBO Research in Strategic Management.”Second Annual IASTED International Conference on Alliances, Mergers, and Acquisitions at MIT,Cambridge, MA, 2004. Published in refereed proceedings.

CONFERENCE & OTHER PRESENTATIONS

Braun, M. “From Made in Montana to Made in Italy: A Guiding Framework.” Brown Bag Lecture Series, University of Montana, Missoula, MT, 2018.
Laffranchini, G., Braun, M. & Kim, S. “The Price Tag of Family Business Investments: Trading Entrepreneurship for Socioemotional Wealth.” Recipient – Best Paper Award in Family Business. USASBE (United States Association for Small Business and Entrepreneurship), Philadelphia, January 2017.
Laffranchini, G., Kim, S. & Braun, M. “To Invest or Not to Invest? Capital Expenditures in Italian Family Firms” USASBE (United States Association for Small Business and Entrepreneurship), Tampa Bay, January 2015.
Laffranchini, G., Hadjimarcou, J. & Braun, M. “The Internationalization of small family-owned businesses: A signal detection approach.” USASBE (United States Association for Small Business and Entrepreneurship), San Francisco, January 2013.
Laffranchini, G. & Braun, M. “Buying your way out of a hole? Acquisitions in family firms during organizational decline.” International Family Enterprise Research Academy (IFERA) Annual World Conference, Palermo, Italy, 2011.
Braun, M., Bajwa, Z. & Latham, S. “Risking the Family Fortune: Capital Expenditures during Organizational Decline.” Eastern Academy of Management, Boston, MA, 2011.
Braun, M. “Of all things Italian: Teaching and researching in Brescia.” International Brown Bag Lecture Series, University of Montana, Missoula, MT, 2010.
Braun, M., Harrington, M., Zacharias, L. & Latham, S. “Of Blood, Carrots and Sticks:Comparing Family Firm and LBO Governance Structures.” National Academy of Management Meeting, ENT Division, Montreal, Canada, 2010.
Latham, S. & Braun, M. “Economic Recessions, Strategy, and Performance: A Synthesis.” National Academy of Management Meeting, BPS Division, Montreal, Canada, 2010.
Latham, S., Braun, M. & Tello, S. “'The Impact of Stock Market Performance on R&D Expenditures: Do Short Term Market Pressures Affect Long Term Investments?” Eastern Academy of Management, Rockport, ME, 2010.
Ledermann, E. & Braun, M. “When Recessions are Good for Companies: Modifying Strategic Frameworks for Competitive Advantage.” Graduate Student and Faculty Research Conference, University of Montana, April 2010.
Latham, S. & Braun, M. “Organizational Decline and Innovation: Closing the Loop.” National Academy of Management Meeting, BPS Division, Chicago, IL, 2009.
Braun, M. & Latham, S. “Rethinking Value Creation in Leveraged Buyouts: Board Restructurings over the Public-Private-Public Cycle.” National Academy of Management Meeting, BPS Division, Anaheim, CA, 2008.
Latham, S. & Braun, M. “To IPO or not to IPO: An Agency Perspective on the Decision to Go Public in an Uncertain Market.” National Academy of Management Meeting, BPS Division, Anaheim, CA, 2008.
Latham, S. & Braun, M. “Decline as the Mother of Rigidity or Innovation? Examining Mone, McKinley, and Barker’s Framework.” National Academy of Management Meeting, BPS Division, Philadelphia, PA, 2007.
Braun, M. & Latham, S.“The Governance of Reverse Leveraged Buyouts: The Board of Directors as a Distinctive Source of Shareholder Value.” 48th Annual Meeting of WesternAcademy of Management, 2006, Missoula, MT. Published in refereed proceedings.
Latham, S. & Braun, M. “Batten Down the Hatches or Trim the Sails: The Role of Financial Slack during Economic Recession.” National Academy of Management Meeting, BPS Division, Atlanta, GA, 2006.
Braun, M. & Sharma, A. “Divisional Reverse Leveraged Buyout: Finishing School or Financial Arbitrage?”Journal of Corporate Finance - Special Issue Conference, "Private Equity, Leveraged Buyouts, and Corporate Governance”, Rensselaer Polytechnic Institute, Troy, NY, April 2006.
Braun, M., “Paths of Divestiture towards Public Independence: Divisional Reverse Leveraged Buyout as an Alternative to Spin-off.” National Academy of Management Meeting, BPS Division,Honolulu, HI, 2005.
Braun, M., “Divisional Reverse Leveraged Buyouts: Rethinking Causes and Consequences of the LBO.” Forty-secondAnnual Meeting of the Eastern Academy of Management, Springfield, MA, 2005.
Braun, M., “Eclipse of LBO Research in Strategic Management.” Second AnnualIASTED International Conference on Alliances, Mergers, and Acquisitions at MIT,Cambridge, MA, 2004.
Braun, M., “Eclipse of the LBO: Revisiting the Debate on the Long-term Viability of an Organizational Innovation.” Fourth AnnualInternational Conference on Money, Risk and Investment, Nottingham-TrentUniversity, Nottingham, UK, 2003.

UNIVERSITY GRANTS

Global Research Initiative Project Grant Award: “From Made in Italy to Made in Montana: A Guiding Framwork.” 2017-2018, University of Montana.
Competitive Summer Grant, 2012, School of Business Administration, University of Montana.
Faculty Exchange,Università degli Studi di Brescia, Italy. July 2011 – August 2012. University of Montana.
International Activity Funding, Cross-cultural Research Grant, 2009, University of Montana.
Competitive Summer Grant, 2009, School of Business Administration, University of Montana.
University Research Grant, Braun, M. & Latham, S. “The Family Imprint during Recession and Recovery:Corporate Governance of Family-controlled Public Firms.” University of Montana, 2008-09.
Summer Research Grant, 2007, School of Business Administration, University of Montana.

PRESS COVERAGE / PUBLIC SPEECHES / RESEARCH MENTION IN INDUSTRY

“Value Proposition Design with Michael Braun” Interview by Justin Angle on A New Angle podcast, November 2017.
“Post-College Career Advice with Michael Braun” Interview by Shannon Parry on Quarter Life Crisis, October 2017.
“What do you know: with Michael Braun” Hour-long interview on European culture, politics, and business on 101.5FM & 1290AM News Talk KGVO FM, December 8, 2015. ()
“As University of Montana enrollment dips, international students are the exception.” Interviewed by Keila Szpaller in Missoulian, June 13, 2015
“Successful family run companies keep business and family separate.” Interview on Michael Braun by Melanie Plenda in Business Monadnock, Volume 2, Issue 3, 2014.
“Montana family business programme aims to address vacuum of support in the state.” Interview on UM’s Family Business Seminar initiative by Michael Finnegan, Campden FB, September 15, 2014.
“Success the focus of forum: First in series to focus on next generation leadership, planning.” Interview on UM’s Family Business Seminar initiative by Alice Miller in Missoulian, January 12, 2014.
“Customer Relationship Management in the Age of Digital Real Estate Services”. Keynote Speaker: to largest national realtors organizations in the U.S. during National Association of Realtors (NAR) Conference (Fall, 2013).
Keynote Speaker: “Entrepreneurship: Nature or Nurture”, Small Business Opportunity Workshop, hosted by Senator Jon Tester, February 23, 2011.
Speaker: “The ‘Family’ in Small Businesses.” 28th Annual State of Missoula Address: “Commerce Report”. Missoula Chamber of Commerce, January 22, 2013, Missoula, MT.
Braun, M. & Latham, S. “Governance in family firms during economic recession”, reprinted for Editor’s Choice in Emerald’s Management Thinking.
Braun, M. “Recession & Your Business: Ideas for Weathering the Storm”, column in Keep Missoula Working, March 2009, published by the Missoula Area Chamber of Commerce.
Latham, S. & Braun, M. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”, mentioned in November, 2008 issue of Canadian Business Monthly, in article entitled “Economic downturn: Survival guide.”
Latham, S. & Braun, M. “The Performance Implications of Financial Slack during Economic Recession and Recovery: Observations from the Software Industry (2001 – 2003)”, reprinted in Entrepreneur.com.
Braun, M. & Sharma, A. “Divisional reverse leveraged buyout: Finishing school or financial arbitrage", summarized (by William A. Trent, CFA) and reprinted in CFA Digest, May 2008, Vol. 38, No. 2: 8-10.
Braun, M. & Sharma, A. “Divisional Reverse Leveraged Buyout: Finishing School or Financial Arbitrage?” mentioned in Index Investor, September 2006 issue.

RESEARCH IN PROGRESS

Cannatelli, B, Pedrini, M. & Braun, M. “"The Relation between Passion and Entrepreneurial Approach: In the Italian Craft Brewing Industry" (Completed manuscript currently under review)
Laffranchini, G., Braun, M. & Kim, S. “Good Times, Bad Times: Environmental Munificence and Performance Aspirations in Family Firms.”
Braun, M. & Latham, S.Mastering Business Models. Proposed to editors at ABC-CLIO as follow-on to Mastering Strategy: Workshops for Business Success, based on success of first book.
Braun, M. & Latham, S. “Customer Lock-In: Market Strategies to Boosting Acquisition and Retention.” (in progress; target journal: Business Horizons)
Braun, M. “Scale, Speed and Standardization: Strategic Objectives to Achieving Unicorn Status.” (in progress; target journal: Journal of Business Strategy)

BOOK REVIEWS

Review of “Myths & Mortals: Family Business Leadership and Succession Planning” by Andrew Keyt, in Journal of Family Business Management, Vol. 5, Issue 2, 2015.
Review of “Trapped in the Family Business” by Michael Klein, PsyD. in Journal of Family Business Management, Vol. 3, Issue 1, 2013.

TEACHING EXPERIENCE

Entrepreneurship & Business Model Design, Visiting Professor, Università Cattolica del Sacro Cuore, Milan, Italy, January 2017; January 2018.
Global Strategic Management, Adjunct Professor, Taylor Institute at Franklin University, Lugano, Switzerland, January-March 2016; March – May 2017.
Strategic Venture Management/Entrepreneurship, University of Montana [BMGT 486; capstone course]
Fall 2014– Present
Advanced Strategy Seminar, Visiting Professor, Università degli Studi di Brescia, Brescia, Italy, March – June 2012.
Business Policy and Strategy, University of Montana [BMGT 446; capstone course]
Fall 2006 – Spring 2011
Strategic Management, University of Montana [BMGT 426]
Fall 2012 - Present
Entrepreneurship, University of Montana [BMGT 348]
Fall 2007 – Spring 2010
MBA Introduction to Strategy, University of Montana [BMGT 604]
Fall 2012
MBA Advanced Strategy Seminar, University of Montana [BMGT 665]
Spring 2011 - Present
MBA Integrated Project, University of Montana [BMGT 603]
Spring 2013
Faculty-led MBA Course, University of Montana, Led visit and marketing analysis presentation to executives at Nike Headquarters, Beaverton OR, May 2013.
Investment Strategy Course, MBA 694, University of Montana, Led visit to meet with Warren Buffett of Berkshire Hathaway, and Kansas City Federal ReserveBank Chair, Omaha, Nebraska/Kansas City, March 9 – 12, 2011.
Global Strategy, Faculty-led International Studies Program, University of Montana -Università degli Studi di Brescia, Brescia, Italy, June 2009; June 2010; June 2011.
Marketing for Artists Workshop, Sept. 26, 2009, University of Montana, Entrepreneurship and Strategy Seminar, Montana World Trade Center.
MBA Essentials, Executive Education Strategy Seminar, University of Montana, Fall 2007.
Montana World Trade Center:Global Trade Certificate Program, Summer 2007 & Summer 2008,University of Montana, Executive Education Strategy Seminar on Foreign Market Entry.
Graduate Instructor, Business Policy and Strategy, University of Massachusetts, Amherst [course number 497], Spring 2005, Fall 2004.
Teaching Assistant, Company Analysis for Investments, University of Massachusetts, Amherst [course number 640], Summer 2004.

INTERNATIONAL PROGRAMS EXPERIENCE

Program Liaison, Summer School Program/Exchange Relationships, Università degli Studi di Brescia (unibs), Brescia, Italy, June 2009 – 2012. Responsible for growing program to 17 visiting students from University of Montana and Montana State University. While on faculty exchange (2011-2012), responsible for developing English-based student exchange curriculum and securing first semester-long UM student exchange from UM to uniBS.

Program Liaison, Summer School Program/Exchange Relationships, Università Cattolica del Sacro Cuore (Cattolica),Milan, Italy, 2015 - Present.As member of International Programs Committee, spearheaded exchange agreement between UM and Cattolica.While on faculty exchange (2015-2016), responsible for securing first semester-long student exchange from Cattolica to UM.

Teaching Assistant, University of Massachusetts, Global Business Experience Program, Winter 2004. Arranged for 30-member student group to visit with Italian manufacturing concerns (Ducati, Perugina, Banfi, and numerous others) in Florence, Milan, and Parma.

INVITED GUEST LECTURES