prof.dr. (Enrico) HPG Pennings

Professor Applied Industrial Organization

Full Professor Erasmus School of Economics Applied Economics

Location: Burg. Oudlaan 50, Rotterdam
Room: T18-37
Telephone: 0104082166
Email: pennings@ese.eur.nl

Profile

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.

- C.T. Witte, M.J. Burger & H.P.G. Pennings (2020). When political instability devaluates home-host ties. Journal of World Business, 55 (4):101077. doi: 10.1016/j.jwb.2020.101077
  T.L.P.R. Peeters, B. Mills, H.P.G. Pennings & H. Sung (2019). Manager Migration, Learning-by-hiring and Cultural Distance in International Soccer. Global Strategy Journal, In press. doi: 10.1002/gsj.1354 [go to publisher's site]
  A.S. Bhaskarabhatla, P. Anurag, C. Chatterjee & H.P.G. Pennings (2017). Mitigating Regulatory Impact: The Case of Partial Price Controls on Metformin in India. Health Policy and Planning, 32 (2), 194-204. doi: 10.1093/heapol/czw109
  C.T. Witte, M.J. Burger, E. Ianchovichina & H.P.G. Pennings (2017). Dodging bullets: the heterogeneous effect of political violence on greenfield FDI. Journal of International Business Studies, 48 (7), 862-892. doi: 10.1057/s41267-017-0079-7
  K.D.S. Fernald, H.P.G. Pennings, J.F. van den Bosch, H.R. Commandeur & E. Claassen (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. doi: 10.1371/journal.pone.0172488
  H.P.G. Pennings (2017). Real Options with Ex-Post Division of the Surplus. Journal of Banking and Finance, 81, 200-206. doi: 10.1016/j.jbankfin.2016.09.007
  A. de Vries, H.P.G. Pennings, J.H. Block & C. Fisch (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. doi: 10.1080/13662716.2016.1231607
  J.T.J. Smit, E. Pennings & S. van Bekkum (2017). Real Options and Institutions. Journal of International Business Studies, 48 (5), 620-644. doi: 10.1057/s41267-016-0055-7
  P.A. van Reeven & H.P.G. Pennings (2016). On the Relation between Multimarket Contact and Service Quality: Mutual Forbearance or Network Coordination? Strategic Management Journal, 37 (10), 2121-2134. doi: 10.1002/smj.2435
  C. Altomonte, I. Colantone & H.P.G. Pennings (2016). Heterogeneous firms and asymmetric product differentiation. The Journal of Industrial Economics, 64 (4), 835-874. doi: 10.1111/joie.12105
  A.S. Bhaskarabhatla & H.P.G. Pennings (2014). Defensive Disclosure of Patentable Inventions under Antitrust Enforcement. Industry and Innovation, 21 (7), 533-552. doi: 10.1080/13662716.2014.987452
  K.D.S. Fernald, H.P.G. Pennings & E. Claassen (2014). Biotechnology Commercialization Strategies: Risk and Return in Interfirm Cooperation. Journal of Product Innovation Management, 32 (6), 971-996. doi: 10.1111/jpim.12218
  H.P.G. Pennings (2011). Unionization Structure, Licensing and Innovation. International Journal of Industrial Organization, 29 (2), 232-241. doi: 10.1016/j.ijindorg.2010.06.001
  H.P.G. Pennings & L. Sereno (2011). Evaluating Pharmaceutial R&D udner Technical and Economic Uncertainty. European Journal of Operational Research, 212 (2), 374-385. doi: 10.1016/j.ejor.2011.01.055
  S. van Bekkum, J.T.J. Smit & E. Pennings (2011). Buy Smart, Time Smart: Are Takeovers Driven by Growth Options or Mispricing? Financial Management - FM, 40 (4), 911-940. doi: 10.1111/j.1755-053X.2011.01166.x
  B. Hoogendoorn, H.P.G. Pennings & A.R. Thurik (2010). What do we know about social entrepreneurship? An analysis of empirical research. International Review of Entrepreneurship, 8 (2), 71-112.
  T. Duso, H.P.G. Pennings & J. Seldeslachts (2010). Learning dynamics in research alliances: A panel data analysis. Research Policy, 39 (6), 776-789. doi: 10.1016/j.respol.2010.03.002
  S. van Bekkum, H.P.G. Pennings & J.T.J. Smit (2009). A Real Options Perspective on R&D Portfolio Diversification. Research Policy, 38 (7), 1150-1158. doi: 10.1016/j.respol.2009.03.009
  H.P.G. Pennings & C. Altomonte (2009). Domestic plant productivity and incremental spillovers from foreign direct investment. Journal of International Business Studies, 40 (7), 1131-1148. doi: 10.1057/jibs.2008.99
  C. Altomonte & H.P.G. Pennings (2008). Learning from foreign investment by rival firms: theory and evidence. International Journal of Industrial Organization, 26 (5), 1203-1217. doi: 10.1016/j.ijindorg.2007.12.002
  H.P.G. Pennings (2008). Privatization of real options. Journal of Comparative Economics, 36 (3), 489-497. doi: 10.1016/j.jce.2008.05.003
  K. Coucke, H.P.G. Pennings & L.I.E. Sleuwaegen (2007). Employee layoff under different modes of restructuring exit, downsizing or relocation. Industrial and Corporate Change, 16 (2), 161-182. doi: 10.1093/icc/dtm002 [go to publisher's site]
  H.P.G. Pennings & C. Altomonte (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. doi: 10.1111/j.1468-0084.2006.00178.x
  A. Mukherjee & H.P.G. Pennings (2006). Tariffs, licensing and market structure. European Economic Review, 50, 1699-1707. doi: 10.1016/j.euroecorev.2005.08.005
  L.I.E. Sleuwaegen & H.P.G. Pennings (2006). International Relocation of Production: Where do Firms Go? Scottish Journal of Political Economy, 53 (4), 430-446. doi: 10.1111/j.1467-9485.2006.00388.x
  H.P.G. Pennings (2005). How to Maximize Domestic Benefits from Foreign Investments: The Effect of Irreversibility and Uncertainty. Journal of Economic Dynamics and Control, 29, 873-889.
  H.P.G. Pennings (2004). Imitation, Patent Protection and Welfare. Oxford Economic Papers, 56, 715-733.
  H.P.G. Pennings (2004). Optimal Pricing and Quality Choice when Investment in Quality is Irreversible. The Journal of Industrial Economics, 52, 569-589.
  H.P.G. Pennings & L.I.E. Sleuwaegen (2004). The choice and timing of foreign direct investment under uncertainty. Economic Modelling, 21 (6), 1101-1115. doi: 10.1016/j.econmod.2004.02.003
  H.P.G. Pennings & L.J.O. Lint (2003). On the recently developed digital video standard, a game based analysis. Technovation, 23, 297-306.
  H.P.G. Pennings (2003). The V-Shaped Value Evolution of R&D Projects. Applied Economics Letters, 10 (1), 27-32.
  H.P.G. Pennings & L.J.O. Lint (2003). On the recently developed digital video standard. A game-based analysis, Technovation. International Journal, 23, 297-306.
  M. Natter & H.P.G. Pennings (2001). Strategic Diversificaton and capacity utilisation. International Journal of Production Economics, 72, 261-272.
  H.P.G. Pennings (2001). Price or quantity setting under uncertain demand and capacity constraints: An examination of the profits. Journal of Economics, 74, 157-171.
  L.J.O. Lint & H.P.G. Pennings (2001). An option approach to the new product development process: a case study at Philips electronics. R and D Management, 31 (2), 163-172.
  H.P.G. Pennings (2001). Price or quantity setting under uncertain demand and capacity constraints: An examination of the profits. Journal of Economics, 74, 157-171.
  M. Natter & H.P.G. Pennings (2001). Strategic diversification and capacity utilisation. International Journal of Production Economics, 72, 261-272.
  L.I.E. Sleuwaegen & H.P.G. Pennings (2000). International relocation: Firm and industry determinants. Economics Letters, 67 (2), 179-186.
  H.P.G. Pennings (2000). Taxes and Stimuli of Investment under Uncertainty. European Economic Review, 44, 383-391. doi: 10.1016/S0014-2921(98)00078-6
  H.P.G. Pennings & L.J.O. Lint (2000). Market Introduction, Phased Rollout or Abandonment? A Real Option Approach. European Journal of Operational Research, 124, 125-138. doi: 10.1016/S0377-2217(99)00121-6
  L.J.O. Lint, H.P.G. Pennings & M. Natter (1999). Optionsmanagement in F&E: Eine Fallstudie. Zeitschrift fur Betriebswirtschaft, 51 (10), 990-1006.
  L.J.O. Lint & H.P.G. Pennings (1998). Een reële optieanalyse van het gelijktijdig ontwikkelen van twee produktstandaarden. MAB, 72 (1/2), 60-66.
  H.P.G. Pennings (1998). How to Finance your Investment Opportunity Internally: A Note. The Journal of Futures Markets, 18, 599-604.
  L.J.O. Lint & H.P.G. Pennings (1998). R&D as an option on market introduction. R and D Management, 28, 279-287.
  L.J.O. Lint & H.P.G. Pennings (1998). Financiën en strategie:time-to-wait or time- to-market. MAB, 71 (3), 117-125.
  H.P.G. Pennings & L.J.O. Lint (1997). The option value of advanced R&D. European Journal of Operational Research, 103 (1), 83-94.
  L.J.O. Lint & H.P.G. Pennings (1997). Financiën en strategie: time-to-wait or time-to-market? MAB, 117-125.
  L.J.O. Lint & H.P.G. Pennings (1997). The option Value of Advanced R&D. European Journal of Operational Research, 103, 83-94.
  L.J.O. Lint & H.P.G. Pennings (1995). Optiemanagement bij investeringen in nieuwe technologie. Holland Management Review, 44-45.
  
  B. Karreman, T.G. Nacken & H.P.G. Pennings (2013). Arabische lente voor de EBRD. Internationale Spectator, 67 (4), 46-51.
  B. Karreman & H.P.G. Pennings (2011). De volgende fusie- en overnamegolf. Economisch-Statistische Berichten, 96 (4619), 589-591.
  L.J.O. Lint & H.P.G. Pennings (1998). De recent overeengekomen videostandaard: een standaardanalyse deel II. Bedrijfskunde, 70 (2), 83-89.
  L.J.O. Lint & H.P.G. Pennings (1998). De recent overeengekomen digitale videostandaard, deel I. Bedrijfskunde, 70 (1), 39-44.
  L.J.O. Lint & H.P.G. Pennings (1998). R&D als optie op marktintroductie. Bedrijfskunde, 69 (1), 61-67.
- B. Hoogendoorn, H.P.G. Pennings & A.R. Thurik (2012). A conceptual overview of What We Know About Social Entrepreneurship. In J. DeFilippis & S. Saegert (Eds.), The Community Development Reader (pp. 117-124). New York: Routledge
  L.I.E. Sleuwaegen & H.P.G. Pennings (2001). Relocation and public aid: a first report. In Mucchielli,.J.-L. Dunning, J.H. (Ed.), Multinational firms' strategies: The local-global dilemma (Studies in global competition series) (pp. 178-189). New York: Routledge
  L.J.O. Lint & H.P.G. Pennings (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). Cambridge: RISK Publishers
  L.J.O. Lint & H.P.G. Pennings (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). Alphen a/d Rijn: Samsom
- B. Hoogendoorn, H.P.G. Pennings & A.R. Thurik (2009). What do we know about social entrepreneurship: an analysis of empirical research. (Intern rapport, Report, no ERS-2009-044-ORG). 3000 DR Rotterdam: ERIM
  L.J.O. Lint & H.P.G. Pennings (1999). The option approach to the new product development process. (Intern rapport, RIBES, no 99-31). :
  L.I.E. Sleuwaegen & H.P.G. Pennings (1999). The choice and timing of foreign market entry under uncertainty. (Extern rapport). : Mimeo
  L.I.E. Sleuwaegen & H.P.G. Pennings (1999). Exit or Relocation under Uncertainty? Theory and Evidence. (Extern rapport). ,: Mimeo
- S.E. Fleten, R. Huisman, M. Kilic, H.P.G. Pennings & S. Westgaard (2015). Electricity futures prices: time varying sensitivity to fundamentals. In Risk (pp. 1-22). Journal of Energy Markets doi: 10.21314/JEM.2015.136
  J. Emami Namini & H.P.G. Pennings (2009). Horizontal multinational firms, vertical multinational firms and domestic investment. In Tinbergen Institute Discussion Paper 2009-004/2 doi: 10.2139/ssrn.1330801
- H.P.G. Pennings (2010). Does contract complexity limit opportunities? Vertical organisation and flexibility. (2010, september 17). Rotterdam: Erasmus Research Institute of Management
- L. van der Laan & H.P.G. Pennings (2009). Organizations in a Dynamic Environment. USA-Hoboken-NJ: Wiley Higher Education
- H.P.G. Pennings (1998, juni 12). Real options and managerial decision making. Erasmus University Rotterdam (126 pag.) (Ridderkerk: Offsetdrukkerij Ridderprint B.V.) Prom./coprom.: L.I.E. Sleuwaegen & prof.dr. R.S. Pindyck.
- L.J.O. Lint & H.P.G. Pennings (1999, oktober 19). The Option Approach to the New Product Development Process. Marco Island, Florida, Annual PDMA Research Conference: Product Development at the Edge of the New Millennium.
  L.J.O. Lint & H.P.G. Pennings (1999, juni 6). The Option Approach to the New Product Development Process. Wassenaar, The 3rd Annual Conference on Real Options: Theory Meets Practice.
- H.P.G. Pennings & L.I.E. Sleuwaegen (2002). The reorganization decisions of troubled firms: exit, downscale or relocate, 21 pag.
EUR Holding / SEOR BV (Affiliate)
Start date approval
Sep/2018
End date approval
Aug/2021
Place
ROTTERDAM
Seminar Strategy Economics
Title
Seminar Strategy Economics
Year
2020
Year level
(bachelor 3) (bachelor 3) (bachelor 3)
Economics of Strategy
Title
Economics of Strategy
Year
2020
Year level
(master)
- Zsolt Csafordi
  Skill Relatedness in Cities and Firms
  2017 -
- Ioannis Kerkemezos
  Topics in empirical industrial organisation with application to transport markets
  2015 -
- Caroline Witte
  Bloody business: Multinational investment in an increasingly conflict-afflicted world
  2013 - 2018
- Caroline Witte
  Bloody business: Multinational investment in an increasingly conflict-afflicted world
  2013 - 2018
- Pourya Darnihamedani
  Individual Characteristics, Contextual Factors and Entrepreneurial Behavior
  2012 - 2016
- Christian Fisch
  Patents and trademarks: Motivations, antecedents, and value in industrialized and emerging markets
  2012 - 2016
- Ying Feng
  The Effectiveness of Corporate Governance Mechanisms and Leadership Structure: Impacts on Strategic Change and Firm Performance
  2011 - 2017
- Kenneth Fernald
  The Waves of Biotechnological Innovation in Medicine: Interfirm Cooperation Effects and a Venture Capital Perspective
  2011 - 2015
- Tamar Weenen
  On the origin and development of the medical nutrition industry
  2010 - 2014
- Esther Pronker
  Innovation Paradox in Vaccine Target Selection
  2009 - 2013
- Peter van der Zwan
  The Entrepreneurial Process: An International Analysis of Entry and Exit
  2007 - 2011
- Brigitte Hoogendoorn
  Social Entrepreneurship in the Modern Economy: Warm Glow, Cold Feet
  2007 - 2011
- Bas Karreman
  Financial Services and Emerging Markets
  2006 - 2011
- Haibo Zhou
  Knowledge, Entrepreneurship and Performance: Evidence from country-level and firm-level studies
  2006 - 2010
- Lenny Pattikawa
  Innovation in the Pharmaceutical Industry: Evidence from Drug Introductions in the U.S.
  2002 - 2007
Technovation
Role
Editorial Board
Start date approval
Jan/2008
Full Professor
University
Erasmus University Rotterdam
School
Erasmus School of Economics
Department
Applied Economics
Country
The Netherlands
Telephone
0104082166
Universita di Sassari
Role
Visiting Professor
Obtained Wage
yes
Start date approval
Jan/2010
End date approval
May/2010