About Us

As the first funded nuclei milenio in management, we enjoy the reputation of the leading research center in entrepreneurship, strategy and behavioral decision making under uncertainty in Chile. This reputation is further enhanced by the young and growing researchers in the center (mostly alumni from top research universities, such as Harvard, MIT, Stanford, UC Berkeley, NUS, Purdue). We leverage the unique access to entrepreneurs/CEOs and other data sources in South America, and these accesses are leveraged for the benefit of the center's master and doctoral students.

The center is also establishing tight international research network, with prolific scholars such as Michael Frese, Kathleen Eisenhardt, and Felipe Csaszar. All of these aim to achieve the overriding objective, which is to construct the first center of international excellence in this area of research.

We are hosted by Catholic University of Chile (ranked #1 in South America) and Adolfo Ibáñez University (top MBA program in South America).

Want to know more.. Contact Us



Santiago Mingo, Director

Business strategy, international business, global strategy, emerging markets,...

Edgar Kausel, Deputy Director

Judgment and Decision Making, Individual Differences, Narcissism

Constanza Bianchi, Associate Researcher

International Marketing

Stephen Zhang, Adjunct Researcher

Entrepreneurship, Entrepreneurial decision-making, CEOs, Innovation decision ...

Julio A. Pertuzé, Director of Commun/Outreach

Technology strategy, innovation management, collaborations and alliances, org...

Tomás H. Reyes, Co-Director of Student Research

Corporate Finance, Behavioral Finance and Economics.

Carla Bustamante, Director of student research

Entrepreneurship, startups, accelerators, venture funding

Roberto Vassolo, Adjunct Researcher


Michael Leatherbee, Junior Researcher

High-growth entrepreneurial strategy, simple-rules decision-making under unce...

Hector Madrid, Junior Researcher

Organizational behavior, creative thinking, innovative work behavior, proacti...

Qingxia Kong, Junior Researcher

Decision-Making under Uncertainty, Healthcare Operations Management, Sports A...

Florian Klonek, Postdoctoral Researcher

organizational behavior, teams, micro-behavioral dynamics

Advisory Board

Kathleen Eisenhardt (Stanford)

Behavioral Strategy, Entrepreneurship

Felipe Csaszar (Michigan)

Strategy, Organization design, Decision making

Michael Frese (NUS)

Entrepreneurship, Organizational behavior, Innovation

Research Students

Claudia Moura

affects, emotions, entrepreneurship, cognition

Víctor Muñoz

Institutions and entrepreneurship in emerging markets, Business policiy and s...

Bernardita Manasevich

Cross-border investment, distance between countries, decision making

Camila González

Organizational behaviour,management, group dynamics.

Nicolás Odeh

Real Options Reasoning Uncertainty in Entrepreneurship and Innovation Negotia...

Asghar Afshar Jahanshahi

Perceived environmental uncertainty, CEO Decision Making Styles

Marco Sepúlveda

Finance, transport, logistic and industrial area in general

Joaquín Trucco

Corporate Finance and Behavioral Decision Making

Francisco Carrasco

Entrepreneurship, Innovation.

Paulo Buchuk

Corporate Governance, Business Strategy, International Business, Entrepreneur...

Amanda Williamson

Entrepreneurial emotion, mood, affect.



by Jeff Reuer

sala 406-C de la escuela de Postgrado de la Universidad Adolfo Ibáñez, sede Peñalolén. , Sept. 8, 2017, 12:45 p.m.

Te invitamos a un nuevo Seminar sobre QUESTIONS AND FEEDBACK FROM THE EDITOR a cargo del connotado Jeff Reuer, quien es editor asociado de Strategic Management Journal y editor consultor en Journal International Business Studies. Además de servir en el board editorial de diecisiete journals distintos, y en el board de directores de Strategic Management Society. Trae tus preguntas y escucha consejos que te permitan entender mejor cómo publicar en journals de primer nivel. Además, dos investigadores presentarán working papers y recibirán nuestro feedback: Patricio Durán, profesor de estrategia de la Escuela de Negocios UAI, y Tomás Reyes, profesor de finanzas Escuela de Ingeniería PUC. Te esperamos este viernes 8 de septiembre de 12:45 a 14:55 hrs, en la sala 406-C de la escuela ... [see more]

SEMINAR: Conducing case study research, with an illustration of a “research-in-progress” project on: Managing Contradictory Tensions in the Evolution of Digital Infrastructures

by Ramiro Montealegre

Universidad Adolfo Ibáñez , Aug. 18, 2017, 10:30 a.m.

In this seminar, ideas about conducting case study research will be explored. The presentation will be centered on a “research-in-progress” project in the area of the managerial ability to simultaneously balance exploration and exploitation to attend contradictory tensions during digital infrastructure evolution. Based on prior research on digital infrastructures and organizational ambidexterity, the question guiding the investigation was: how are contradictory tensions experienced and resolved throughout the evolution of digital infrastructures? This question was approached through an in-depth case study at RE/MAX LLC, a global real estate franchise. The study yielded qualitative data to propose a process model of digital infrastructure evolution ambidexterity, highlighting managemen... [see more]


by Santiago Mingo

Centro de Extensión UC. , Aug. 13, 2017, 9 a.m.

Te invitamos a un nuevo Seminario organizado por Núcleo Milenio Esuu sobre "EMPRENDIMIENTO DE ALTO IMPACTO: ESTRATEGIA GLOBAL E INTERNALIZACIÓN" que se realizará el próximo miércoles 13 de septiembre entre las 9 a 10: 30 am en el Centro de Extensión UC. En esta oportunidad expone, Santiago Mingo, Doctor of Business Administration, Harvard University y Director del Núcleo Milenio de Estrategia de Emprendimiento bajo incertidumbre. Modera, Carla Bustamante, PhD University od Colorado- Boulder. Te esperamos! inscríbete aquí

Impacto de las políticas públicas en Innovación

Investigadores del Núcleo

Santiago , June 23, 2017, 6:25 p.m.

Durante el mes de julio Núcleo Milenio Esuu realizará una charla sobre: El Impacto de las políticas públicas en Innovación 1° Impacto de los vouchers tecnológicos, por el PHD Julio Pertuzé 2° Ecosistema del emprendimiento: impacto de Start up Chile. por el PHD Mike Leatherbee 3° Impacto de la Incertidumbre política en Innovación. por el PHD Tomás Reyes.

Actor engagement in the sharing economy: A life-cycle perspective

Judy Drennan, Professor in Marketing, School of Advertising, Marketing and Public Relations

Sala C303 Edifício de Postgrado, March 23, 2017, 3 p.m.

The ‘sharing economy’ has experienced exponential growth over recent years, and has caused major disruption within various traditional markets worldwide. It is built on the notion of collaborative consumption, requiring engaged actors with similar disposition. The purpose of this paper is to provide initial insights into how actor engagement evolves, is impacted, and potentially drives regulative changes surrounding collaborative consumption experiences. Airbnb is used as the business context due to the range of engagement opportunities between actors. An innovative social media listening tool, Radian6 Social Studio to gather longitudinal data from Airbnb’s inception to the present. Findings demonstrate the dynamics in foci of actor engagement and how they mirror and potentially drive... [see more]


Yadong Luo

Sala 303, Edificio Postgrado, Campus Peñalolen, Universidad Adolfo Ibáñez, March 13, 2017, 3 p.m.

Professor Luo has emerged as the world’s top research scholar in international management since the mid-90s. He has published over 160 articles in major refereed journals in management and international business, including AMJ, ASQ, AMR, SMJ, JIBS, JAP, Org. Science, among others. He also authored more than a dozen books and about a hundred other publications. His research interests include global corporate strategy, global corporate governance, international joint ventures, and management in emerging economies, among others. Professor Luo’s research record includes seminal pieces on important and timely topics, such as co-opetition in international business, business-government relationships, cross-cultural cooperative strategies, multinational enterprises in emerging markets, and inte... [see more]

Opting In to Prosocial and Standard Incentives on Recycling Behavior

Dr. Daniel Schwartz

PUC, San joaquin, room “Quinto Campus”, Y building., Sept. 8, 2016, 1 p.m.

We examine the role of monetary incentives in a series of field experiments to shape pro-environmental behavior comparing standard rewards to two types of incentives; (1) Prosocial incentives – i.e. individuals do a task for a charitable organization, and (2) Non-contingent incentives – i.e. whether incentives depend on effort. The results of these studies indicate that economic incentives may have limited effects, depending on how they are presented. In particular, we found that households were more likely to recycle and recycled more (in lbs.) when contingent rewards were larger, but only when there is no prosocial incentive option. We also found that non-contingent incentives were more effective on average in both the total amount recycled and the number of people who were encouraged... [see more]

Seminario Académico ESSU

“Estrategias de emprendimiento bajo incertidumbre”.

Universidad Católica de Chile, campus San Joaquín, Escuela de Ingeniería, Sala E13. , Sept. 8, 2016, 11 a.m.

Carla Bustamante Ph.D, profesora asistente de la Escuela de Negocios de la Universidad Adolfo Ibáñez, y Tomás Reyes Ph.D, profesor asistente del Departamento de Ingeniería Industrial y de Sistemas de la Universidad Católica de Chile, tienen el agrado de invitarte al Seminario Académico ESSU “Estrategias de emprendimiento bajo incertidumbre”. Está se realizará el jueves 8 de septiembre de 2016 a las 11 horas en la Universidad Católica de Chile, campus San Joaquín, Escuela de Ingeniería, Sala E13. En esta oportunidad las presentaciones estarán a cargo de los alumnos Octavio Moya quien expondra sobre: “Estrategias de diversificación y desempeño de empresas chilenas: el rol moderador de las distancias culturales, económicas y políticas” y Juan Antonio Vega, “Cartas de control de cali... [see more]

The Student training Enepreneunial Promotion (STEP)

Michael M. Gielnik

Universidad Católica de Chile, campus San Joaquín, Escuela de Ingeniería, Sala de reuniones 2°piso, Aug. 16, 2016, 11 a.m.

Meta-analytic research has provided evidence that entrepreneurship training has positive short- and long-term effects on entrepreneurial attitudes and behavior. However, we know little about the pathways linking short- and long-term outcomes, issues of transfer, sustaining effects of trainings, and boundary conditions enhancing or limiting the effects of entrepreneurship trainings. These are important theoretical aspects to develop a comprehensive theory of entrepreneurship training. In this talk, I will present the Student Training for Entrepreneurial Promotion (STEP). The training has been applied to about 3,000 students. In randomized controlled pre-/post-test designs, we have provided evidence for its impact on entrepreneurial attitudes and behavior. I will present research that use... [see more]

Public-Private Institutions as the Foundations for Information and Firm Upgrading in Emerging Market Countries

Gerald MCdermontt

Universidad Adolfo Ibáñez, Peñalolen, Sala 305-C Edif. Postgrado, April 5, 2016, 1:30 p.m.

How can emerging market societies accelerate the ability of their firms to innovate and thus compete in international market in a sustainable fashion? Much of the work on this issue focuses on two ways that domestic firms can learn and improve their dynamic capabilities – via their ties to MNCs as suppliers or via their ties to one another in local cluster. These sources are not sufficient, as neither the critical knowledge nor the adequate learning relationships are forthcoming simply due to market or social forces. Instead, my research shows first how local firms need access to a variety of applied or experiential knowledge resources, not simply pioneering technology. Second, I find that certain public-private institutions can act as vital social and knowledge bridges to facilitate... [see more]

Tips on writing/publishing multidisciplinary research, with an illustration of a recent publication on hybrid organization

Jeffery S. McMullen

PUC, Jan. 14, 2016, 1 p.m.

This talk covers tips on writing/publishing multidisciplinary research. Despite the intuitive appeal of multidisciplinary research, practical challenges exist for conducting such research and publish them. This talk highlights some aspects of multidisciplinary research with an illustration of a recent publication on hybrid organization. Hybrid organizations, such as Benefit Corporations, are created explicitly to address social and environmental objectives in addition to their financial objective. Therefore, in this paper we explore the consequences of a world of blended value in which every new venture is required to be a hybrid organization.

Made it to the top, but how do they compare? CEOs, Gender and Strategic Decisions

Daniel L. Gamache

PUC, Dec. 17, 2015, 1 p.m.

Although past research has found that a number of CEO characteristics affect organizational outcomes, one characteristic that has largely been ignored is CEO gender. Conventional wisdom suggests that female executives often must act like males in order reach the upper echelons; however, gender research has found that men and women often act very differently. In this study, we examine the effect of CEO gender on strategic decision making. Drawing on role congruity and lack of fit theories, we theorize that female CEOs perceive greater downside potential from their strategic decisions than male CEOs; consequently, they will make different strategic decisions than male CEOs. We explore this in the context of firm acquisition activity. Thus, we propose that female CEOs will pursue lower acq... [see more]

Publishing without Perishing

Timmothy M. Devinney

UAI, Edificio C, Sala 308, Dec. 7, 2015, noon

This seminar will focus on the logic of publishing in today’s academic reality. It will also cover aspects of a publishing strategy — how to write, what to write, what evidence is, and how to deal with rejection in a positive way.

Student Seminar 21 August

Several Speakers

UAI, Edificio C, Sala 301, Aug. 21, 2015, noon

Several Abstracts

Does Risk Shifting Really Happen? Results from and Experiment

Pablo Hernández-Lagos

Pontifica Universidad Católica, San Joaquin Campus, Raul Deves Building/ Meeting room 3rd Floor, July 9, 2015, 11 a.m.

Do firms increase the riskiness of their cash flow in the presence of high level debt? So far, the evidence is mixed and difficult to interpret, because risk taking is hard to measure and because some assumptions from the theory do not map well into broad empirical settings. We overcome these problems by using a controlled experiment, with high-level managers as subject. Our findings shed light on environments in which risk shifting is likely to happen, and thus where it could be detected using observational data.

Skills for Delivering Dynamic Business Pitches and Presentations

Daena Giardella, MIT

Centro de Innovación UC Anacleto Angelini, Co- Work, piso 5to, June 16, 2015, 11:30 a.m.

En esta ocasión se hablará sobre como se puede combinar el teatro con la docencia. Este tema se ha llevado a cabo en MIT Sloan School of Management y en la Facultad de Derecho de la Universidad de Harvard, entregando a sus alumnos un nuevo método para la enseñanza de la improvisación, actitud empresarial y liderazgo en equipos emprendedores.

Unhelpful Help: The Seamy Underbelly of Organizational Citizenship Behavior, and What Organizations Can Do About It

Reeshad S. Dalal, George Mason University

T-1002, University of Chile, June 3, 2015, noon

En esta oportunidad el tema a conversar se denomina: “Unhelpful Help: The Seamy Underbelly of Organizational Citizenship Behavior, and What Organizations Can Do About It”. Este workshop será dictado por la profesor Reeshad S. Dalal, quien es Académico de George Mason University y realizó sus estudios de Ph.D., Industrial/Organizational Psychology, University of Illinois.

A Networked Perspective on the Engineering Design Process: At the Intersection of Process and Organisation Architectures

Pedro Parraguez (Danish Technical University)

BC25 PUC, April 17, 2015, 4 p.m.

The design process of engineering systems frequently involves hundreds of activities and people over long periods of time. Such socio-technical complexity makes design processes hard to manage and, as a result, engineering design projects often fail to be on time, on budget, and on specifications. Previous approaches have been insufficient to provide a networked perspective that allows the challenging combination of organisational and process complexity to unfold. The lack of a networked perspective also has limited the study of the relationships between process complexity and process performance. This thesis reports on research undertaken to develop, apply and test a new framework that characterises the actual design process architecture of engineering systems as a networked process. ... [see more]

The effect of charisma on performance in management

John Antonakis (HEC Lausanne)

P-301, University of Chile, April 9, 2015, 6 p.m.

The effect of charisma on performance in management


Julio Pertuzé (2016). La intuición en la toma de decisiones. El Mercurio


Kausel, E. E., Hansen, E., & Tapia, P. (2016). Responsible Personal Finance: The Role of Trait Conscientiousness in Saving Behavior.. International Review of Finance

Kausel, E. E. (2016). Scholarly impact in the organizational sciences in and from Iberoamerica: A personal reflection. . The Journal of the Iberoamerican Academy of Management

Salvato, C. and R. Vassolo. (2016). The sources of dynamism in dynamic capabilities: a multilevel theory. Strategic Management Journal

Madrid, H. P., Patterson, M. G. & Leiva P. I. (2015). Negative core affect and employee silence: How differences in activation, cognitive rumination and problem-solving demands matter.. Journal of Applied Psychology

Madrid, H. P. & Patterson, M. G. (2015). Creativity at work as a joint function between openness to experience, need for cognition and organizational fairness. . Learning and Individual Differences.



Kausel, E. E., Culbertson, S. S., Leiva, P. I., Slaughter, J. E., & 3. Jackson, A. T. (2015). Too arrogant for their own good? Why and when narcissists dismiss advice.. Organizational Behavior and Human Decision Processes


Khoury, T., Junkunc, M., and Mingo, S. (2015). Navigating Political Hazard Risks and Legal System Quality: Venture Capital Investments in Latin America. . Journal of Management

Olivares, N., Pertuze, J.A., Reyes, T.H. (2016). Real options reasoning and innovation: the causal effect of country leaders on patenting. XVIII CLAIO Confernece

Pertuze, J.A. (2016). How do industry-university relationshisp coevolve with firm strategy. 76th Annual Meeting of the Academy of Management, Anaheim, California

Gonzalez, C.F. Pertuze, J.A. (2015). “¿Por qué incluir más mujeres no soluciona el problema de liderazgo femenino en grupos de ingeniería?. XXVIII Congreso Chileno de Educación en Ingeniería, Copiapó, Chile

Madrid, H. P., Totterdell, P., Niven, K. & Barros, E. (2016). Leader affective presence and innovation in teams.. Journal of Applied Psychology

Zhang, S. X. and A. Afshar-Jahanshahi (2015). How Do Perceived Uncertainties Propagate in Management Interpretation Process. The 35th SMS Annual International Conference, Denver

Schmitt, A., R. Kathrin, S. X. Zhang, M. Leatherbee, and M. Frese (2015). Audacious Exploration: The Role of Entrepreneurial Self-efficacy in the Face of Uncertainty. 75th Academy of Management Conference, Vancouver, Canada

Zhang, S. X. and E. van Burg (2015). Identifying design elements and principles for effectuating new ventures. 31st EGOS Colloquium 2015, Athens, Greece

Zhang, S. X. and A. Afshar-Jahanshahi (2015). How Do Perceived Uncertainties Propagate in Management Interpretation Process– a Moderated-Mediation Model of Founder-CEOs’ Perception of State, Effect, and Response Uncertainties. Biannual Frontiers in Managerial and Organizational Cognition Conference, Copenhagen, Denmark

Odeh N. and S. X. Zhang (2015). Microfoundations of Real Options Reasoning. Darden & Cambridge Judge Entrepreneurship and Innovation Research Conference, 29th –30th June, Cambridge, UK.

Zhang, S. X. and N. Odeh (2015). A Behavioral Study of Real Options Reasoning: The Role of Perceived Uncertainty and Opportunity Discovery Behavior, Proceedings of Strategic Management Society . Santiago Conference


Oct. 23, 2017

Seminario "La gestión de personas para la innovación en las organizaciones"

Oct. 2, 2017

Save the date - Seminario "La gestión de personas para la innovación en las organizaciones"

Te esperamos este 3 de noviembre entre las 9 y 10:30 am en un nuevo seminario organizado por Núcleo Milenio Essu y la iniciativa Núcleo Milenio del Ministerio de Economía. En la oportunidad el Seminario será sobre La gestión de personas para la innovación en las organizaciones y estará a cargo del Phd y psicólogo Héctor Madrid. No te lo pierdas!