Sharon Belenzon is an Associate Professor (with tenure) in the Strategy unit at the Fuqua School of Business of Duke University, and a Research Associate at the National Bureau of Economic Research (NBER). His research is dedicated to advance the understanding of how firm organizational structure mediates, and is mediated by, firm strategy, and of how investments in science by corporations and by universities affect technical change. His research has been featured in top academic journals, such as Management Science, Strategic Management Journal, American Economic Review, Review of Economics and Statistics, Economic Journal, Research Policy and Journal of Law and Economics. Professor Belenzon received his PhD from the London School of Economics, and completed post-doctorate work at the University of Oxford, Nuffield College. He has also been the recipient of the Kauffman foundation post-doctorate fellowship at the NBER. He earned MA and BA degrees in Economics from Tel-Aviv University. Belenzon has been an Associate Editor for Management Science from January 2016 and for Strategic Management Journal from July 2016.

Research interests: Science and innovation, business ecosystems, theory of the firm, organization design

Teaching: Corporate Strategy (MBA, EMBA), Emerging Markets Strategy (MBA, EMBA), Economics of Innovation (PhD)



Papers to patents: The withdrawal of large US corporations from research is narrowing the scope of innovation (with Ashish Arora and Andrea Patacconi), Nature 552, S10, 7 December 2017

  • Additional analysis: A firm shift (with Ashish Arora and Andrea Patacconi), Nature 552, S10 (7 December 2017)

The decline of science in corporate R&D (with Ashish Arora and Andrea Patacconi), Strategic Management Journal 39(1): 3-32, January 2018 (lead article)

Eponymous Entrepreneurs (with Aaron Chatterji and Brendan Daly), American Economic Review 107(6):1638-55, June 2017, watch video 

Married to the firm? A large scale investigation of the social context of ownership (with Andrea Patacconi and Rebecca Zarutskie), Strategic Management Journal 37(13): 2611-2638, November 2015

Market Frictions and the the Competitive Advantage of Internal Labor Markets (with Ulya Tsolmon), Strategic Management Journal, 37: 1280–1303, July 2016

Motivation and Sorting of Human Capital in Open Innovation (with Mark Schankerman), Strategic Management Journal, 36: 795–820, June 2015 (lead article)

How does firm size mediate firms' ability to benefit from invention? Evidence from patents and scientific publications (with Andrea Patacconi), European Management Review, 11(1): 21-45, Spring 2014

Innovation and firm value: An investigation of the changing role of patents, 1985-2007 (with Andrea Patacconi), Research Policy, 42(8): 1496-1510, September 2013

Make, Buy, Organize: The Interplay Between R&D, External Knowledge, and Firm Structure (with Ashish Arora and Luis Rios), Strategic Management Journal35: 317–337, March 2014

Spreading the Word: Geography, Policy and Knowledge Spillovers (with Mark Schankerman), Review of Economics and Statistics, 95(3): 884-903, July 2013

Capital markets and firm organization: How financial development shapes European corporate groups (with Tomer Berkovitz and Luis Rios), Management Science, 59: 1326-1343, June 2013

Cumulative Innovation and Market Value: Evidence from Patent CitationsEconomic Journal, 559(122): 265-285, March 2012

Innovation in Business Groups (with Tomer Berkovitz), Management Science, 56(3): 519-535, March 2010

University Knowledge Transfer: Private Ownership, Incentives, and Local Development Objectives (with Mark Schankerman), Journal of Law and Economics, 52(1): 111-144, February 2009

Working Papers

A theory of the U.S. innovation ecosystem: Evolution, diversity, and efficiency (with Ashish Arora and Andrea Patacconi)

Towards a legal theory of the firm: Intra-organizational limited liability, asset partitioning, and delegation around the world (with Andrea Patacconi and Honggi Lee)

Reverse Citations and Localized Knowledge Spillovers (with Ashish Arora and Honggi Lee)

Back to Basics: The Use of Research in Invention - Evidence from Patent Citations to Corporate Science (with Ashish Arora and Lia Sheer)

Knowledge Sharing in Alliances and Alliance Portfolios (with Ashish Arora and Andrea Patacconi)

Choosing between Growth and Glory (with Ronnie Chatterji and Brendan Daley)

Workers on tap? How labor flexibility fosters experimentation and business creation (with Victor Bennet and Andrea Patacconi)

Managerial Redeployment, Ownership Structure, and Family Ties (with Andrea Patacconi and Ulya Tsolmon)

Consuming the Firm: Owner Age, Exit Strategy, and Firm Performance (with Anastasiya Shmshur and Rebecca Zarutskie)

The architecture of attention: Group structure and subsidiary autonomy (with Niron Hashai and Andrea Patacconi)

The nebulous nature of the firm: An empirical study of corporate group structure in 16 developed economies (with Andrea Patacconi and Bennet Zelner)

Scientific research and commercialization strategy: Evidence from venture-backed firms (with Ashish Arora, Lia Sheer and Andrea Patacconi)

Intracompany governance and innovation (with Patrick Bolton and Tomer Berkovitz), Unpublished Working Paper