Skip to main content

Michael Carney, PhD

Professor, Management
Concordia University Research Chair, Management

Michael Carney, PhD
Office: S-MB 13349  
John Molson Building,
1450 Guy
Phone: (514) 848-2424 ext. 2937

Michael Carney has published extensively on the corporate and organizational strategies of Asia’s family-owned business groups. His research focuses on entrepreneurship and the comparative analysis of business, financial and governance systems and their influence upon the development of firm capabilities and national competitiveness.

He is the former Editor-in-Chief of Asia Pacific Journal of Management, He has published in Journals such as the Academy of Management Journal, Academy of Management Review, Asia Pacific Journal of Management, Entrepreneurship: Theory and Practice, Family Business Review, Journal of Management Studies, Journal of World Business, Management and Organization Review, Organization Studies, and Strategic Management Journal.


PhD (University of Bradford)

Areas of expertise

  • Business Groups
  • Family Business
  • Firm and National Competitiveness

Selected Publications


Carney M &Dieleman, M.  (Eds) The De Gruyter Handbook of Business Families (2023).


(Carney, M.) Asian Business Groups: Context, Governance, and Performance. Elsevier(2008)



Shapiro D., Estrin, S., Carney, M., & Liang, Z; (2023) “Businessgroup affiliation and export performance: the role of institutionalconfigurations”. Journal of Management Studies


Carney, M. Estrin, Liang, Z & Shapiro, D. (2022) “Are LatinAmerican Business Groups Different? An International Political EconomyPerspective.”  Multinational BusinessReview, 30(4), 546-572


Gorji, Y.Carney, M., Prakash, R (2021) “Celebrity Couples as Business Families: A SocialNetwork Perspective” Family BusinessReview, 34(4) 365–384


JaskiewiczP., Block J., Carney M., Hansen, C, & Wagner D. (2021) “How Do Cross-Country Differences in Institutional Trust and Trust inFamily Explain the Mixed Performance Effects of Family Management?  A Meta-Analysis.”  Journal of World Business, 56:5:101-196


Braun, M., Carney, M., Duran, P., Ortiz, M., &Riutort, J. (2021) “Inheritance Tax, ShareholderProtection, and the Market Value of Family-Controlled Firms: A Cross-CountryAnalysis. Global Strategy Journal, 11:3:434-467


JaskiewiczP., Carney M., Hansen, C. (2021) “When trusting yourfamily hurts your family business” Published onlinein Harvard Business Review. Online permalink:


Liang, Z, & Carney,M. (2020) Business Group Persistence and InstitutionalMaturity: The Role of Management Practices. Industrial & Corporate Change. 29:6:1483-1503


Zhao, J., Carney, M., Zhang, S., & Zhu,L. (2020) “Strategic Change and Performance in China's Family Firms: How doesSuccession Matter?” Asia Pacific Journalof Management 37:363–389


Gorji, Y., Carney, M., &Prakash, R. (2020) Indirect nepotism: Network sponsorship, social capital andcareer performance in show business families. Journal of FamilyBusiness Strategy, 11:3:100285


Tajeddin,M., & Carney, M. (2019). African business groups: how does groupaffiliation improve SMEs’ export intensity? Entrepreneurship Theory andPractice43:6:1194-1222.


Ge,J., Carney, M., & Kellermanns, F. (2019). Who fills institutional voids?Entrepreneurs’ utilization of political and family ties in emergingmarkets. Entrepreneurship Theory and Practice43:6:1124-1147.


Carney,M; Estrin, S; Liang, S; & Shapiro, D. (2019) “National InstitutionalConfigurations, Foreign Ownership, andFirm Performance:  The Case ofUnderstudied Countries” Journal of WorldBusiness, 54:4:244-257


Nason, R., Mazzelli, A., & Carney, M. (2019) “The ties that unbind: Socializationand business-owning family reference point shift” Academy of Management Review, 44:4:846-870


Mazzelli, A., Nason,R., & Carney, M. (2019) “Dialogue:Breadth and Depth in FamilyBusiness Research: A Response to Jaskiewicz, Combs, and Ketchen.” Academy of Management Review, 44:4:919-922


Nason,R., Carney, M., Miller, D., & Le Breton-Miller, I. (2019) “Who cares about socioemotional wealth? SEW and rentierperspectives on the 1% wealthiest business households” Journal ofFamily Business Strategy 10:2:144-158


Estrin,S., Liang, Z., Shapiro, D., & Carney, M. (2019). State capitalism, economicsystems and the performance of state-owned firms. Acta Oeconomica69:1:175-193.


Carney, M., Estrin, S., Shapiro, D., & Van Essen, M. (2018)“Business Groups Reconsidered: Beyond Paragons and Parasites” Academy of Management Perspectives, 32:4:93-516


Carney, M., Zhao, J., &Zhu, L. (2019). Lean innovation: Family firm succession and patenting strategyin a dynamic institutional landscape. Journal of Family BusinessStrategy10:4:100247.


Carney,M. & Nason, R. (2018) “Family Business and the 1%” Business & Society,57:6:1191–1215


Carney, M., Duran, P., van Essen, M., & Shapiro, D. (2017).“Family firms, internationalization, and national competitiveness: Does familyfirm prevalence matter?”  Journal of Family Business Strategy, 8:3:123-136.


Carney, M., Van Essen, M. Estrin, S., &Shapiro, D. (2017) “Business Group Prevalence Across Countries and Over Time:What Can We Learn from the Literature?” MultinationalBusiness Review 25:1:54-76


Ghorbani,M. & Carney, M. (2016) “The Changing Face of China’sBillionaire-Entrepreneurs” Asia PacificJournal of Management, 33:4: 881-902


Carney, M.,Dieleman, M., & Taussig, M. (2016) “How are institutional capabilitiestransferred across borders?” Journal ofWorld Business, 51:6:882-894


Carney, M., & Jaskiewicz, P. (2015) “SixBooks That Have Shaped the Landscape of Family Firm Scholarship” Academy of Management Learning and Education,14:3:423-428


Van Essen, M., Strike, V. M., Carney,M., & Sapp, S. (2015). The resilient family firm: Stakeholder outcomes andinstitutional effects. Corporate Governance: An International Review23:3:167-183.Republished in CGIR virtual special issue on “Corporate Governance duringCrises” April 2020


Carney, M. VanEssen, M. Gedajlovic, E. & Huegens, P. (2015) “What Do We Know About PrivateFamily Firm? A Meta-Analytic Review EntrepreneurshipTheory & Practice, 39:3:513-544


Van Essen, M. Carney, M. Gedajlovic, E& Huegens, P. (2015)How Does Family Control Influence Firm Strategy andPerformance? A Meta-Analysis of U.S. Publicly-Listed Firms”. Corporate Governance: An InternationalReview, 23(1): 3–24. Republished in CGIR virtual specialissue on “Corporate Governance during Crises” April 2020


Carney, M. Gedajlovic, E, & Strike, V. (2014)“Dead Money: Inheritance Law and the Longevity of Family Firms” Entrepreneurship Theory and Practice, 38:6:1261-1283

Van Essen, M. Engelen, PJ. & Carney, M. (2013) “Does ‘Good’Corporate Governance Help in a Crisis? The Impact of Country- And Firm-LevelGovernance Mechanisms in the European Financial Crisis” Corporate Governance: An International Review, 21:3:201–224

Su, E. & Carney, M. (2013) “Can China's Family Firms Create IntellectualCapital?” Asia Pacific Journal ofManagement 30: 3:657–675


Gedajlovic, E. Carney, M. Chrisman, J. &Kellermanns, FW. (2012) The Adolescence of Family Firm Research: Taking Stockand Planning for the Future. Journalof Management, 38:4:1010-1037


Reprinted in Family Business Vol 1. Pramodita Sharma& Leif Melin (Eds) Sage Library in Business and Management, London, Sage(2014)


Sharma, P. & Carney, M. (2012) “Value Creation and Performance inPrivate Family Firms: Measurement and Methodological Issues” Editorial forSpecial issue of Family Business Review25:233-242


Van Essen, M. Van Oosterhout,J. & Carney, M. (2012)“Corporate Boards and the Performance of Asian Firms: AMeta-Analysis” Asia-Pacific Journal ofManagement 29:4:873–905*Winner of Mike Peng APJM Annual Best Paper Award


Carney, M. Gedajlovic, E. Huegens, P. Van Essen, M. & Van Oosterhout, J. (2011) “Business Group Affiliation, Performance, Context, andStrategy: A Meta-Analysis” Academy ofManagement Journal 54:3:437-460


Carney, M.Gedajlovic, E. & Sur, S. (2011) ‘Corporate Governance and StakeholderConflict’ Journal of Management &Governance 15:3:483-507

Carney, M. & Dieleman, M. (2011) “Indonesia’s Missing Multinationals: Business Groups andOutward Direct Investment” Bulletinof Indonesian Economic Studies 47:1:63-84


Gedajlovic, E. & Carney, M., (2010)“Markets, Hierarchies, and Families: Toward a Transaction Costs Theory of theFamily Firm’ Entrepreneurship Theory& Practice, 34:6:1145-1171


Carney, M. Shapiro, D. & Tang, T.(2009) ‘Business Group Performance in China: Ownership and Temporal Considerations.’Management and Organization Review, 5:2:167-193


Carney, M. Gedajlovic, E. & Yang, X. (2009) ‘Varieties of Asian Capitalism: Toward an InstitutionalTheory of Asian Enterprise’ Asia-Pacific Journal of Management 26:3:361-380


Reprinted in State Capitalism, Barbara Krug, (Ed) Edward Elgar,Cheltenham (2014)


Reprinted in Asian Business & Management Michael A. Witt (Ed) Sage Library in Business andManagement, London, Sage (2012)


Carney, M. (2008) ‘The many futures of Asian Business Groups’ Asia-Pacific Journal of Management, 25:4:595-613


Lamertz, K. Carney, M. & Bastien, F. (2008) ‘Image on the Internet: Inter-organizationalisomorphism in image management by professional soccer clubs.’ InternationalJournal of Sport Management and Marketing3:3:242-262


Carney, M. (2007) ‘Minority Family Firms inEmerging Markets: Organization Forms and Competitive Advantage.’ Family Business Review 20:4:289-300


Carney, M., &Farashahi, M. (2006) ‘Transnational institutions in developing countries: thecase of Iranian civil aviation.’ Organization Studies, 27:1:53-77


Carney, M., &Dostaler, I. (2006) ‘Airline ownership and control: A corporate governanceperspective.’  Journal of Air Transport Management, 12:2:63-75.


 Carney,M. (2005) ‘Corporate governance and competitive advantage in family-controlledfirms.’ Entrepreneurship Theory and Practice 29:3:249-265


Reprinted in Fundamentals ofCorporate Governance’ Thomas Clarke and Marie de la Rama (Eds), Sage Libraryin Business and Management (2008)


Reprinted in Family Business Vol 4. Pramodita Sharma& Leif Melin (Eds) Sage Library in Business and Management, London, Sage(2014)


Carney, M. (2005) ‘Globalization and therenewal of Asian business networks’ Asia Pacific Journal of Management 22:337-354


Carney, M. (2004) ‘The Institutions ofIndustrial Restructuring in Southeast Asia’ Asia Pacific Journal ofManagement 21:171-188


Carney, M. &Mew, K. (2003) ‘AirportGovernance Reform: A Strategic Management Perspective’ Journal of AirTransport Management 9:221-232


Carney, M.& Gedajlovic, E. (2003)Strategic Innovationand the Administrative Heritage of East Asian Chinese Family Business Groups’Asia Pacific Journal of Management 20:5-26


Carney M.& Gedajlovic, E. (2002) ‘CoupledOwnership & Control and the Allocation Of Financial Resources: EvidenceFrom Hong Kong’ Journal of Management Studies 39:1:123-146 


Carney M. & Gedajlovic, E. (2002)The Co-Evolution of InstitutionalEnvironments and Organizational Strategies: The Rise of Family Business Groupsin the ASEAN RegionOrganization Studies 23:1:1-29


Reprinted inOrganizational Learning & KnowledgeManagement William H. Starbuck (Ed.) Edward Elgar, Cheltenham (2007).


Alsoreprinted in New Directions inOrganization Studies Stewart R Clegg (Ed) Sage Publications, London(2009)


Alsoreprinted in Asian Business & Management Michael A Witt (Ed) Sage Library in Business andManagement, London, Sage (2012)


Carney M. & Gedajlovic, E. (2002) Institutional Change and Firm Adaptation:Toward a Typology of Southeast Asian Corporate Forms’ Asia Pacific Business Review 8:3:31-60


Backx, M. Carney, M. &Gedajlovic, E. (2002) ‘Public, private and mixed ownership modes and theperformance of international airlines’ Journal of Air Transport Management 8:4:213-220


Carney, M & Gedajlovic, E. (2001) ‘Corporate Governance and Firm Capabilities: A Comparisonof Managerial, Alliance, and Personal Capitalisms’ Asia-Pacific Journal of Management18:337-356


Carney, M & Gedajlovic, E. (2000) ‘EastAsian Financial Systems and the transition from investment-driven to innovationdriven economic development’ InternationalJournal of Innovation Management 4:3:253-276


Carney, M. & Davies, H. (1999) ‘From Entrepot to Entrepot via MerchantManufacturing: Adaptive Mechanisms, Organizational Capabilities and theStructure of the Hong Kong Economy’ AsiaPacific Business Review 6:1:13-32


Reprintedin Managed in Hong Kong: AdaptiveSystems, Enterpreneurship, and Human Resources Chris Rowley &Robert  Fitzgerald (Eds.) London: FrankCass, (2000)


Carney, M. (1998) ‘The Competitiveness ofNetworked Production: The Role of Asset Specificity and Trust’ Journal of Management Studies 35:4:457-480


Carney, M. (1998)A Management-Capacity Constraint? Obstacles to the Development of theOverseas Chinese Family Business’ Asia-PacificJournal of Management  15:2:137-1621-25


Carney, M. (1997) ‘State developmentstrategies for small business: The role of structural service agencies’ International Journal of InnovationManagement. 1:2:151-172


Carney, M. (1992) ‘The Incentive Structuresof Cooperative Retail Buying Groups’ Economicand Industrial Democracy, 13:207-231


Carney, M. & Gedajlovic, E. (1991) ‘VerticalIntegration in Franchise Systems: Agency Theory and Resource Explanations’ Strategic Management Journal, 12:8:607‑629


Carney, M. (1987) ‘The Strategy andStructure of Collective Action’ OrganizationStudies, 8:4: 341‑362


Butler, RJ. & Carney, M. (1987) ‘PublicChoice, Ambiguity, and Regulation’ ScandinavianManagement Journal 3: 3:233-253


Butler, RJ. & Carney, M. (1986) ‘Strategyand Strategic Choice: The Case of Telecommunications’ Strategic Management Journal 7:2:161‑171


Carney, M. (1986) ‘Strategy in theTelecommunications Market: The Effects of Liberalization and Competition’ Telecommunications Policy 10:3:245‑258


Butler, RJ. & Carney, M. (1983) ‘ManagingMarkets: Implications for the Make‑buy Decision’ Journal of Management Studies 20:2:213‑232


Back to top

© Concordia University