Morten Bennedsen - Faculty Profile | INSEAD

Morten Bennedsen

Economics and Political Science

Morten Bennedsen

Visiting Professor of Economics at INSEAD

Contact

Email: [email protected]
Phone: +33 1 60 72 91 94
Campus: Fontainebleau

Research Areas

The Governance of Family Firms, Corporate Governance, Private Equity, Privatisation, Lobbyism and Corruption, Contract Theory

Teaching Areas

Applied Microeconomics, Governance of Family Firms, Family Business Management, Corporate Governance, Contract Theory

Biography

Morten Bennedsen is Visiting Professor of Economics at INSEAD. He obtained his PhD in Economics from Harvard University in 1998, a Master’s degree with distinction from London School of Economics, and a Bachelor Degree from the University of Copenhagen. His area of teaching includes family business governance, corporate governance, applied microeconomics, and firm theory.

Morten Bennedsen’s main research area is the governance of family firms and other closely held corporations in a global context. He has done research on family firms, closely held corporations, capital structures, venture capital, investor protection, ownership structures, and privatisation. His work has been published in top finance and economics journals, such as Journal of Financial Economics, Journal of Political Economics, Quarterly Journals of Economics, Journal of Banking and Finance, and Journal of Public Economics. Morten Bennedsen has won a number of research and teaching prizes, such as the winner of the Danish part of the EURYI competition (2004), the FUHU prize for Best Teaching and Course Development at the Copenhagen Business School (2006), and the biggest Danish individual research prize - EliteForsk 2008 - from the Danish Ministry of Science.

He has served as an advisor to the Danish Ministry of Business in the area of family firms and succession politics in particular, and, more generally, on corporate financial policy. He has done advisory and consultancy work for a.o., the Danish association of private equity funds, the Danish Ministry of Foreign Affairs, the World Bank, and Novo Nordisk Foundation. He frequently gives talks to family firms, corporate finance institutions, investment banks, and private equity funds on governance of family firms and the economic consequences of succession.

Morten Bennedsen’s research has been cited in many international newspapers including The Wall Street Journal, International Herald Tribune and business newspapers in Germany, Nederlands, Portugal, Norway and Denmark.

Publications

Bennedsen M., Simintzi E., Tsoutsoura M., Wolfenzon D. (2022). Do Firms Respond to Gender Pay Gap Transparency? . Journal of Finance, 77(4)

Bennedsen M., Lu Y., Mehrotra V. (2022). A Survey of Asian Family Business Research. Asia-Pacific Journal of Financial Studies, 51(1)

Bennedsen M., Mehrotra V., Shim J., Wiwattanakantang Y. (2021). Dynastic Control without Ownership: Evidence from Post-war Japan. Journal of Financial Economics, 142(2)

Amore M. D., Bennedsen M., Le Breton-Miller I., Miller D. (2021). Back to the Future: The Effect of Returning Family Successions on Firm Performance. Strategic Management Journal, 42(8)

Bennedsen M., Perez-Gonzalez F., Wolfenzon D. (2020). Do CEOs matter? Evidence from Hospitalization Events. Journal of Finance, 75(4)

Bennedsen M., Tsoutsoura M., Wolfenzon D. (2019). Drivers of Effort: Evidence from Employee Absenteeism. Journal of Financial Economics, 133(3)

Bennedsen M., Huang S., Wagner H., Zeume S. (2019). Family Firms and Labor Market Regulation . Review of Corporate Finance Studies, 8(2)

Bennedsen M., Henry B. (2019). 16,000 Years of Family Business: The Leadership Model of the Hénokiens.

Bennedsen M., Henry B. (2019). Hénokiens: The Families and Firms Who Made History - Part 2.

Amore M. D., Bennedsen M., Larsen B., Rosenbaum P. (2019). CEO Education and Corporate Environmental Footprint. Journal of Environmental Economics and Management, 94

Bennedsen M., Simintzi E., Tsoutsoura M., Wolfenzon D. (2019). Research: Gender Pay Gaps Shrink When Companies Are Required to Disclose Them. Harvard Business Review Digital Articles

Bennedsen M., Henry B., Roulet A., Stabile M. (2019). Did Apple Pay Too Little Tax? (B): Appealing the EU Ruling on Illegal State Aid.

Bennedsen M., Roulet A., Stabile M., Henry B. (2018). Gender Inequality: Why Are Women Paid Less than Men?.

Bennedsen M., Henry B., Korsager E. M. (2018). Brunata International A/S (A): Succession Challenges in a Family Business.

Bennedsen M., Henry B., Korsager E. M. (2018). Brunata International A/S (B): Professionalization Challenges of Family Business.

Bennedsen M., Zeume S. (2018). Corporate Tax Havens and Transparency. Review of Financial Studies, 31(4)

Bennedsen M., Henry B., Chung H., Lu Y. (2018). Ruling from the Grave: A Family Succession Controversy at the Taiwanese Evergreen Group.

Bennedsen M., Henry B., Roulet A., Stabile M. (2018). Leaks, Dumps and Whistleblowers: Tax Havens and Wealth Inequality.

Bennedsen M., Henry B., Roulet A., Stabile M. (2018). To Reduce Unemployment, French President Macron Reforms the Labour Market.

Bennedsen M., Henry B., Wiwattanakantang Y. (2017). Samsung: Family Assets and Roadblocks (C) - Court Calls 'Time Out' on Lee Jae-yong.

Bennedsen M., Henry B., Wiwattanakantang Y. (2017). Samsung: Family Assets and Roadblocks (B) - Heart Attack Puts Succession Planning at Risk.

Bennedsen M., Henry B., Wiwattanakantang Y. (2017). Samsung: Family Assets and Roadblocks (A) - Drivers of Success, Family Assets and Business Strategy.

Bennedsen M., Zeume S. (2017). Corporate Tax Havens and Shareholder Value.

Bennedsen M., Henry B. (2017). Hankook Chinaware: Confucianism and Filial Piety within Values-based Leadership.

Bennedsen M., Tsoutsoura M., Wolfenzon D. (2017). Drivers of Effort: Evidence from Employee Absenteeism.

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Leonisa: A Succession Crisis Among Second Gens (Spanish).

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Leonisa: A Succession Crisis Among Second Gens .

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Servientrega: Co-Founders in Competition (Spanish).

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Carvajal: From Soldiers to Diplomats, from Family-run to Professionally-Managed (Spansih).

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Carvajal: From Soldiers to Diplomats, from Family-run to Professionally-Managed.

Bennedsen M., Guzman A., Henry B., Trujillo M. A., Wiwattanakantang Y. (2017). Servientrega: Co-Founders in Competition.

Bennedsen M., Henry B., Stabile M. (2016). Did Apple Pay Too Little Tax? (A): Appealing the EU Ruling on Illegal State Aid.

Bennedsen M., Henry B. (2016). Hénokiens: The Families and Firms Who Made History - Part 1.

Bennedsen M., Henry B., Wiwattanakantang Y. (2016). The Bancroft Family and the Battle for Dow Jones: "Never Sell Grandpa's Paper".

Bennedsen M., Henry B., Wiwattanakantang Y. (2016). Billionaire's Curse: Gun-based Succession Planning for a Bangkok Market.

Bennedsen M., Henry B., Wiwattanakantang Y. (2016). Toyota Motor Corp.: Heir Steers Carmaker out of Crisis.

Amore M. D., Bennedsen M. (2016). Corporate Governance and Green Innovation. Journal of Environmental Economics and Management, 75

Amore M. D., Bennedsen M., Nielsen K. M. (2015). Return to Political Power in a Low Corruption Environment.

Bennedsen M., Foss N. J. (2015). Family Assets and Liabilities in the Innovation Process. California Management Review, 58(1)

Bennedsen M., Fan J. P. H., Jian M., Yeh Y. (2015). The Family Business Map : Framework, Selective Survey, and Evidence from Chinese Family Firm Succession. Journal of Corporate Finance, 33

Cadbury D., Bennedsen M. (2015). The Chocolate Factory (B): ‘Sold for 20p’ .

Bennedsen M., Cadbury D. (2015). The Chocolate Factory (A).

Bennedsen M., Fan J. P. H., Henry B., Wiwattanakantang Y. (2015). Yung Kee: A Family Feud Divides Hong Kong.

Bennedsen M., Cornil Y., Crawford R. (2015). The Mulliez Family Venture.

Bennedsen M., Zeume S. (2015). Corporate Tax Havens and Shareholder Value.

Bennedsen M., Fan J. P. H., Jian M., Yeh Y. (2014). The Family Business Map : Framework, Selective Survey, and Evidence from Chinese Family Firm Succession.

Bennedsen M., Fan J. P. H. (2014). The Family Business Map.

Crawford R., Bennedsen M., Hoefer R. (2014). Hermès Paris.

Amore M. D., Bennedsen M. (2014). Corporate Governance and Green Innovations.

Bennedsen M., Hrnjic E., Wiwattanakantang Y. (2013). East Meets West: Rothschild’s Investment in Indonesia’s Bakrie Group.

Amore M. D., Bennedsen M. (2013). The Value of Local Political Connections in a Low-corruption Environment. Journal of Financial Economics, 110(2)

Bennedsen M., Nielsen K. M. (2012). Private Contracting and Corporate Governance: Evidence from the Provision of Tag-along Rights in Brazil. Journal of Corporate Finance, 18(4)

Bennedsen M., Schultz C. (2011). Arm's Length Delegation of Public Services. Journal of Public Economics, 95(7-8)

Bennedsen M., Ampenberger M., Zhou H. (2011). The Capital Structure of Family Firms.

Bennedsen M., Nielsen K. M. (2010). Incentive and Entrenchment Effects in European Ownership. Journal of Banking and Finance, 34(9)

Bennedsen M., Van der Heyden L. (2010). When MBAs Meet Henokiens: What Can We Learn From Long-Lived Family Firms?.

Bennedsen M., Kongsted H. C., Nielsen K. M. (2008). The Causal Effect of Board Size in the Performance of Small and Medium Sized Firms. Journal of Banking and Finance, 32(6)

Bennedsen M., Nielsen K. M., Perez-Gonzalez F., Wolfenzon D. (2007). Inside the Family Firm: the Role of Families in Succession Decisions and Performance . Quarterly Journal of Economics, 122(2)

Bennedsen M., Feldmann S. E. (2006). Lobbying Bureaucrats. Scandinavian Journal of Economics, 108(4)

Bennedsen M., Feldmann S. E. (2006). Informational Lobbying and Political Contribution. Journal of Public Economics, 90(4-5)

Bennedsen M., Schultz C. (2005). Adaptive Contracting. Economic Theory, 25(1)

Bennedsen M., Nielsen K. M. (2004). The Impact of a Break-through Rule on European Firms. European Journal of Law and Economics

Bennedsen M. (2003). Vote Buying Through Resource Allocation in a Government Controlled Sector. Rivista Di Politica Economica

Bennedsen M., Feldmann S. E. (2002). Lobbying Legislatures. Journal of Political Economy, 110(4)

Bennedsen M., Feldmann S. E. (2002). Lobbying and Legislative Organization: The Effect of the Vote of Confidence Procedure. Business and Politics, 4(2)

Bennedsen M., Wolfenzon D. (2000). The Balance of Power in Closely Held Corporations. Journal of Financial Economics, 58(1-2)

Bennedsen M. (2000). Political Ownership. Journal of Public Economics, 76(3)

Cases with Extra

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