IMD business school for management and leadership courses

Latest Articles
Article
The tragedy of the horizon: A contracting account

The “tragedy of the horizon” captures the gap between long-horizon climate damages and the shorter horizons of corporate decision-making. We provide a contracting account of this idea using a deliberately standard CARA-normal moral-hazard model. Under full commitment, the optimal linear contract can condition on long-horizon outcomes; horizon mi…

Finance Economics
By Christos Cabolis and Karl Schmedders
in Economic Letters
September 2026, vol. 268, 113154, https://doi.org/10.1016/j.econlet.2026.113154
The tragedy of the horizon: A contracting account
By Christos Cabolis and Karl Schmedders
in Economic Letters September 2026, vol. 268, 113154, https://doi.org/10.1016/j.econlet.2026.113154
Summary
The “tragedy of the horizon” captures the gap between long-horizon climate damages and the shorter horizons of corporate decision-making. We provide a contracting account of this idea using a deliberately standard CARA-normal moral-hazard model. Under full commitment, the optimal linear contract can condition on long-horizon outcomes; horizon mi…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
CEO’s temporal focus and business model innovation in family firms under environmental dynamism

Business model innovation (BMI) is critical for firms’ long-term survival under environmental dynamism and depends heavily on CEOs’ cognition. While Socioemotional Wealth (SEW) explains why family CEOs may resist or engage in BMI, it largely assumes homogeneous responses under similar environmental conditions. Upper echelons theory (UET), in tur…

Family Business
By Muhammad Anwar, Matheus Franco, Thomas Clauss and Alfredo De Massis
in Long Range Planning
August 2026, vol. 59, no. 4, 102656, https://doi.org/10.1016/j.lrp.2026.102656
CEO’s temporal focus and business model innovation in family firms under environmental dynamism
By Muhammad Anwar Matheus Franco Thomas Clauss and Alfredo De Massis
in Long Range Planning August 2026, vol. 59, no. 4, 102656, https://doi.org/10.1016/j.lrp.2026.102656
Summary
Business model innovation (BMI) is critical for firms’ long-term survival under environmental dynamism and depends heavily on CEOs’ cognition. While Socioemotional Wealth (SEW) explains why family CEOs may resist or engage in BMI, it largely assumes homogeneous responses under similar environmental conditions. Upper echelons theory (UET), in tur…
Contact

Research Information & Knowledge Hub for additional information on IMD publications

Article
Exploring deglobalization effects on global innovation ecosystems, and the role of cosmo-localism

Over the past years profound changes in the public sentiment and policy environment suggest the beginning of a new era with reversal attitudes towards globalization. Deglobalization which is commonly defined as the process of decreasing interdependence among nations has recently become the focus of scholarly attention with particular interest on…

Global Business
By Ioanna Stylianou, Michael Christofi, Karolina Sallaku and Alfredo De Massis
in Technovation
August 2026, vol. 156, 103640, https://doi.org/10.1016/j.technovation.2026.103640
Exploring deglobalization effects on global innovation ecosystems, and the role of cosmo-localism
By Ioanna Stylianou Michael Christofi Karolina Sallaku and Alfredo De Massis
in Technovation August 2026, vol. 156, 103640, https://doi.org/10.1016/j.technovation.2026.103640
Summary
Over the past years profound changes in the public sentiment and policy environment suggest the beginning of a new era with reversal attitudes towards globalization. Deglobalization which is commonly defined as the process of decreasing interdependence among nations has recently become the focus of scholarly attention with particular interest on…
Contact

Research Information & Knowledge Hub for additional information on IMD publications