Note: Starting February 10, 2018, I will stop taking requests for the databases on firm-country distances (economic reliance) and market concentration. A new university-wide initiative is developing a system that will allow users to run queries and download tailored data themselves.

I hold a PhD in Applied Economics and Management from The Wharton School and degrees from the Massachusetts Institute of Technology and ITAM. Prior to joining academia, I worked with financial derivatives for two private banks and with policy instruments to finance catastrophic risk for two multilateral agencies.


My research overlaps the fields of strategy and organizational theory. I am fascinated by what drives organizations to make specific choices in the context of systemic risk and uncertainty–the known or unknown probability of a big shock, such as a natural disaster, a terrorist attack, or a political coup, disrupting the market’s status quo–and the consequences of such decision making for firm performance and social welfare.

Deciding under systemic risk and uncertainty is in the essence of contemporary entrepreneurship and a driver of global competitiveness. According to FEMA, over 40% of businesses do not reopen after being hit by a flood, hurricane, earthquake or other disaster, and these shocks are associated with a mortality rate of 70% of local firms within two years.

What inherent systemic risks does the firm face when expanding to a foreign market? What are the benefits and costs of taking market (e.g., investment in innovations) and non-market strategies (e.g., strategic philanthropy) to manage such risks? How such behavior affects the relationship between the firm and key stakeholders? My research agenda centers on similar questions and the fundamental transformation that the business world is now undergoing in attention given to systemic risk at the global level.

Recent findings:

  • Humanitarian aid from local for-profit organizations help countries affected by disasters recover faster and greater than aid from foreign governments, multilateral agencies, and individual charity.


  • Donating disaster aid via non-profit organizations (such as the Red Cross) is socially inefficient versus having for-profit organizations (firms) implementing their aid directly when firms have a local presence in the disaster-stricken country. (As of 01/18, This study is under revision, please ask for a draft).

Recent media coverage: