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Personal profile

Artistic and research interests

Markku Maula is Professor of Venture Capital and the Head of the Institute of Strategy and Venturing at the Department of Industrial Engineering and Management at Aalto University School of Science. He earned his PhD at Helsinki University of Technology in 2001 winning the Heizer Doctoral Dissertation Award in New Enterprise Development. He has been a visiting scholar at INSEAD and Stanford University and gained work experience in companies including CapMan and Nokia.

Markku’s research focuses on venture capital and private equity, corporate venturing, mergers and acquisitions, and technology-based new firms, and more generally, on the intersection of strategy, entrepreneurship, international business, innovation, and corporate finance. His research often builds on and contributes to the behavioral theory of the firm, attention-based view, and/or institutional theory and is frequently based on quantitative empirical research applying novel methods in large datasets.

Markku has published his research in leading peer-reviewed journals including Academy of Management Journal, Strategic Management Journal, Organization Science, Journal of Business Venturing, Entrepreneurship Theory & Practice, Strategic Entrepreneurship Journal, Research Policy, and MIS Quarterly, among others. He has also received several international awards for outstanding scholarship.

Markku is Editor of Entrepreneurship Theory & Practice and serves on the Editorial Boards of Strategic Management Journal, Journal of Business Venturing, Entrepreneurship Theory & Practice, and Venture Capital: An International Journal of Entrepreneurial Finance. He was the Founding Director of Aalto Ventures Program, has served in many scientific committees and organizations such as the Research Committee of the Entrepreneurship Division of the Academy of Management, and has also acted as an advisor to many firms and government agencies in issues related to his areas of expertise.

Education/Academic qualification

Doctor of Science (Technology), Industrial Management

Master of Science (Economics and Business Administration)

Master of Science (Technology), Industrial Management


  • venture capital
  • cross-border venture capital
  • mergers and acquisitions
  • corporate venturing

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Research Output

Enhancing rigor in quantitative entrepreneurship research

Maula, M. & Stam, W., 4 Dec 2019, In : Entrepreneurship Theory and Practice.

Research output: Contribution to journalArticleScientificpeer-review

Open Access
  • Making a contribution to entrepreneurship research by studying crowd-funded entrepreneurial opportunities

    Pollack, J. M., Maula, M., Allison, T. H., Renko, M. & Günther, C. C., 6 Dec 2019, In : Entrepreneurship Theory and Practice.

    Research output: Contribution to journalEditorialScientificpeer-review

    Open Access
  • 1 Citation (Scopus)

    The role of cognitive load in effective strategic issue management

    Laamanen, T., Maula, M., Kajanto, M. & Kunnas, P., 2018, In : Long Range Planning. 51, 4, p. 625-639

    Research output: Contribution to journalArticleScientificpeer-review

  • 11 Citations (Scopus)

    CEO Entrepreneurial Orientation, Entrenchment, and Firm Value Creation

    Keil, T., Maula, M. & Syrigos, E., Jul 2017, In : Entrepreneurship Theory and Practice. 41, 4, p. 475-504

    Research output: Contribution to journalArticleScientificpeer-review

    17 Citations (Scopus)

    Driven by aspirations, but in what direction? Performance shortfalls, slack resources, and resource-consuming vs. resource-freeing organizational change

    Kuusela, P., Keil, T. & Maula, M., 2017, In : Strategic Management Journal. 38, 5, p. 1101–1120

    Research output: Contribution to journalArticleScientificpeer-review

  • 41 Citations (Scopus)


    An external evaluator for an Associate Professor tenure promotion

    Markku Maula (Examiner)

    Activity: Examination typesStatement of assessment of professorship

    Discussant at the INSEAD Doriot Entrepreneurship Conference

    Markku Maula (Speaker)
    31 Aug 20181 Sep 2018

    Activity: Talk or presentation typesConference presentation

    PhD Examination Board Member

    Markku Maula (Examiner)
    2017 → …

    Activity: Examination typesPre-examination of dissertation or acting as opponent to doctoral students

    Entrepreneurship Theory & Practice (Journal)

    Markku Maula (Editor)
    Mar 20162020

    Activity: Publication peer-review and editorial work typesMembership of an editorial board

    Sampsa Samila

    Markku Maula (Host)
    1 Jan 2016

    Activity: Hosting a visitor typesHosting a visitor