Markus Fitza
Associate Professor of Strategy and Entrepreneurship • Professor
Associate Professor of Strategy and Entrepreneurship
Markus Fitza is Associate Professor for Strategy and Entrepreneurship at Frankfurt School of Finance & Management. Before joining Frankfurt School he was an Assistant Professor of Management at Texas A&M University. He has also been a Visiting Professor at the University of Oxford, the University of Newcastle (Australia) and the University of Sydney.
Professor Fitza conducts research in the areas of strategy, corporate governance and entrepreneurship. He is a member of the Editorial Board of the Strategic Management Journal and his work appeared in a variety of outlets such as the Academy of Management Journal, the Strategic Management Journal, the Proceedings of the Royal Society and the Journal of International Business Studies. His interests span multiple disciplines and his research has been cited by scholars in management, economics, sociology, finance and biology. It has also been featured in a variety of media outlets such as the Wall Street Journal, the Financial Times, USA Today, NBC, der Kurier, die Wirtschaftswoche, the Guardian and the Independent.
Professor Fitza holds a Ph.D. in Strategy and Entrepreneurship from the University of Colorado at Boulder, an MBA from the University of Oxford and a Master in Molecular Biology from the University of Texas at Austin. He taught business strategy, innovation management and entrepreneurship to undergraduate, graduate and executive audiences in the US, Europe, Asia and Australia.
In addition to his academic career he worked in various start-ups, and as a board member.
Professor Fitza conducts research in the areas of strategy, corporate governance and entrepreneurship. He is a member of the Editorial Board of the Strategic Management Journal and his work appeared in a variety of outlets such as the Academy of Management Journal, the Strategic Management Journal, the Proceedings of the Royal Society and the Journal of International Business Studies. His interests span multiple disciplines and his research has been cited by scholars in management, economics, sociology, finance and biology. It has also been featured in a variety of media outlets such as the Wall Street Journal, the Financial Times, USA Today, NBC, der Kurier, die Wirtschaftswoche, the Guardian and the Independent.
Professor Fitza holds a Ph.D. in Strategy and Entrepreneurship from the University of Colorado at Boulder, an MBA from the University of Oxford and a Master in Molecular Biology from the University of Texas at Austin. He taught business strategy, innovation management and entrepreneurship to undergraduate, graduate and executive audiences in the US, Europe, Asia and Australia.
In addition to his academic career he worked in various start-ups, and as a board member.
- Management department
- Professor
- Faculty
PUBLICATIONS
Andrews, D., Fainshmidt, S., Fitza, M., Kundu, S., 2023. Disentangling the Corporate Effect on Subsidiary Performance, Strategic Management Journal Vol. 44(12), pp. 2986-3011.
Lerner, D., Alkærsig, L., Fitza, M., Lomberg, C., Johnson, S., 2021. Nothing Ventured, Nothing Gained: Parasite Infection is Associated with Entrepreneurial Initiation, Engagement and Performance, Entrepreneurship, Theory and Practice Vol. 45(1), pp. 118-144.
Sohl, T., Vroom, G., Fitza, M., 2020. How much does business model matter for firm performance?: a variance decomposition analysis, Academy of Management Discoveries Vol. 6(1), pp. 61-80.
Vedula, S., Fitza, M., 2019. Regional Recipes: A Configurational Analysis of the Regional Entrepreneurial Ecosystem for U.S. Venture Capital-Backed Startups, Strategy Science Vol. 4(1), pp. 4-24.
Balkin, D., Trevino, L., Fitza, M., Gomez-Mejia, L., Tadikonda, H., 2018. Antecedents of non-monetary rewards: designating the first author, Management Research Vol. 18(2), pp. 221-244.
Dushnitsky, G., Fitza, M., 2018. Are We Missing the Platforms for the Crowd?: Comparing Investment Drivers Across Multiple Crowdfunding Platforms, Journal of Business Venturing Insights Vol. 10(November 2018).
Tang, M., Walsh, G., Lerner, D., Fitza, M., 2018. Green Innovation, Managerial Concern and Firm Performance: an Empirical Study, Business Strategy and the Environment Vol. 27(1), pp. 39-51.
Johnson, S., Fitza, M., Lerner, D., Calhoun, D., Beldon, M., Chan, E., Johnson, P., 2018. Risky business: linking Toxoplasma gondii infection and entrepreneurship behaviours across individuals and countries, Proceedings of the Royal Society B: Biological Sciences Vol. 285(1883).
Johnson, S., Fitza, M., Lerner, D., Calhoun, D., Beldon, M., Chan, E., Johnson, P., 2018. Risky business: linking Toxoplasma gondii infection and entrepreneurship behaviors across individuals and countries, Proceedings of the Royal Society B: Biological Sciences Vol. 285(1883).
Withers, M., Fitza, M., 2017. Do board chairs matter?: The influence of board chairs on firm performance, Strategic Management Journal Vol. 38(6), pp. 1343-1355.
Fitza, M., 2017. How much do CEOs really matter?: Reaffirming that the CEO effect is mostly due to chance, Strategic Management Journal Vol. 38(3), pp. 802-811.
Fitza, M., 2017. How much do CEOs really matter? Reaffirming that the CEO effect is mostly due to chance, Strategic Management Journal Vol. 38(3), pp. 802-811.
Fitza, M., Tihanyi, L., 2017. How much does ownership form matter?, Strategic Management Journal Vol. 38(13), pp. 2726-2743.
Hayward, M., Fitza, M., 2017. Pseudo-Precision?: Precise Forecasts and Impression Management in Managerial Earnings Forecasts, Academy of Management Journal Vol. 60(3), pp. 1094-1116.
Josefy, M., Dean, T., Albert, L., Fitza, M., 2017. The Role of Community in Crowdfunding Success: Evidence on Cultural Attributes in Funding Campaigns to "Save the Local Theater", Entrepreneurship, Theory and Practice Vol. 41(2), pp. 161-182.
Fitza, M., Dean, T., 2016. How much do VCs and underwriters matter?: A comparative investigation of venture capitalist and underwriter effects on IPO underpricing, Venture Capital Vol. 18(2), pp. 95-114.
Fitza, M., 2014. The use of variance decomposition in the investigation of CEO effects: how large must the CEO effect be to rule out chance?, Strategic Management Journal Vol. 35(12), pp. 1839-1852.
Ma, X., Tong, T., Fitza, M., 2013. How Much Does Subnational Region Matter to Foreign Subsidiary Performance?: Evidence from Fortune Global 500 Corporations' Investment in China, Journal of International Business Studies Vol. 44(1), pp. 66-87.
Matusik, S., Fitza, M., 2012. Diversification in the venture capital industry: leveraging knowledge assets to manage uncertainty, Strategic Management Journal Vol. 33(4), pp. 407-426.
Fitza, M., Matusik, S., Mosakowski, E., 2009. Do VCs matter?: The importance of owners on performance variance in start-up firms, Strategic Management Journal Vol. 30(4), pp. 387-404.
Lerner, D., Alkærsig, L., Fitza, M., Lomberg, C., Johnson, S., 2021. Nothing Ventured, Nothing Gained: Parasite Infection is Associated with Entrepreneurial Initiation, Engagement and Performance, Entrepreneurship, Theory and Practice Vol. 45(1), pp. 118-144.
Sohl, T., Vroom, G., Fitza, M., 2020. How much does business model matter for firm performance?: a variance decomposition analysis, Academy of Management Discoveries Vol. 6(1), pp. 61-80.
Vedula, S., Fitza, M., 2019. Regional Recipes: A Configurational Analysis of the Regional Entrepreneurial Ecosystem for U.S. Venture Capital-Backed Startups, Strategy Science Vol. 4(1), pp. 4-24.
Balkin, D., Trevino, L., Fitza, M., Gomez-Mejia, L., Tadikonda, H., 2018. Antecedents of non-monetary rewards: designating the first author, Management Research Vol. 18(2), pp. 221-244.
Dushnitsky, G., Fitza, M., 2018. Are We Missing the Platforms for the Crowd?: Comparing Investment Drivers Across Multiple Crowdfunding Platforms, Journal of Business Venturing Insights Vol. 10(November 2018).
Tang, M., Walsh, G., Lerner, D., Fitza, M., 2018. Green Innovation, Managerial Concern and Firm Performance: an Empirical Study, Business Strategy and the Environment Vol. 27(1), pp. 39-51.
Johnson, S., Fitza, M., Lerner, D., Calhoun, D., Beldon, M., Chan, E., Johnson, P., 2018. Risky business: linking Toxoplasma gondii infection and entrepreneurship behaviours across individuals and countries, Proceedings of the Royal Society B: Biological Sciences Vol. 285(1883).
Johnson, S., Fitza, M., Lerner, D., Calhoun, D., Beldon, M., Chan, E., Johnson, P., 2018. Risky business: linking Toxoplasma gondii infection and entrepreneurship behaviors across individuals and countries, Proceedings of the Royal Society B: Biological Sciences Vol. 285(1883).
Withers, M., Fitza, M., 2017. Do board chairs matter?: The influence of board chairs on firm performance, Strategic Management Journal Vol. 38(6), pp. 1343-1355.
Fitza, M., 2017. How much do CEOs really matter?: Reaffirming that the CEO effect is mostly due to chance, Strategic Management Journal Vol. 38(3), pp. 802-811.
Fitza, M., 2017. How much do CEOs really matter? Reaffirming that the CEO effect is mostly due to chance, Strategic Management Journal Vol. 38(3), pp. 802-811.
Fitza, M., Tihanyi, L., 2017. How much does ownership form matter?, Strategic Management Journal Vol. 38(13), pp. 2726-2743.
Hayward, M., Fitza, M., 2017. Pseudo-Precision?: Precise Forecasts and Impression Management in Managerial Earnings Forecasts, Academy of Management Journal Vol. 60(3), pp. 1094-1116.
Josefy, M., Dean, T., Albert, L., Fitza, M., 2017. The Role of Community in Crowdfunding Success: Evidence on Cultural Attributes in Funding Campaigns to "Save the Local Theater", Entrepreneurship, Theory and Practice Vol. 41(2), pp. 161-182.
Fitza, M., Dean, T., 2016. How much do VCs and underwriters matter?: A comparative investigation of venture capitalist and underwriter effects on IPO underpricing, Venture Capital Vol. 18(2), pp. 95-114.
Fitza, M., 2014. The use of variance decomposition in the investigation of CEO effects: how large must the CEO effect be to rule out chance?, Strategic Management Journal Vol. 35(12), pp. 1839-1852.
Ma, X., Tong, T., Fitza, M., 2013. How Much Does Subnational Region Matter to Foreign Subsidiary Performance?: Evidence from Fortune Global 500 Corporations' Investment in China, Journal of International Business Studies Vol. 44(1), pp. 66-87.
Matusik, S., Fitza, M., 2012. Diversification in the venture capital industry: leveraging knowledge assets to manage uncertainty, Strategic Management Journal Vol. 33(4), pp. 407-426.
Fitza, M., Matusik, S., Mosakowski, E., 2009. Do VCs matter?: The importance of owners on performance variance in start-up firms, Strategic Management Journal Vol. 30(4), pp. 387-404.
Harrison, J., Fitza, M., 2014, Heterogeneity of Corporate Parents and the Paradox of Corporate Venture Capital: a Social Capital Approach, in: Andrew Zacharakis (ed): Frontiers of Entrepreneurship Research 2014, Babson Park: Babson College, pp. 50-64.
Fitza, M., Dean, T., 2009, The relative importance of VC certification in the mitigation of information asymmetry at IPOs, in: Academy of Management Annual Meeting Proceedings, Briarcliff Manor: Academy of Management.
Fitza, M., Dean, T., 2009, The relative importance of VC certification in the mitigation of information asymmetry at IPOs, in: Academy of Management Annual Meeting Proceedings, Briarcliff Manor: Academy of Management.
Fitza, M., Grote, M., 2022. Das versteckte Potenzial des privaten Kapitalmarktes in Deutschland, Auftraggeber: Portagon.
Fitza, M., Tihanyi, L.
Does ownership form matter?: Evidence from the UK
Fitza, M., Harrison, J.
Heterogeneity of corporate parents and the paradox of corporate venture capital: a social capital perspective
Fitza, M., Harrison, J.
Heterogeneity of corporate parents and the paradox of corporate venture capital: a social capital approach
Fitza, M., Sohl, T., Vromm, G.
How Much Does Business Model Matter?
Albert, L., Dean, T., Fitza, M., Josefy, M.
Behind the Curtain: an empirical analysis of the mission-based model of antecedents in social entrepreneurship
Albert, L., Dean, T., Fitza, M., Josefy, M.
Crowdfunding and a mission-based model of social entrepreneurship
Doblinger, C., Dowling, M., Fitza, M.
Does country matter for the performance of new ventures?
Fitza, M., Lerner, D.
Disinhibition & Entrepreneurial Behavior: a new and integrative Predictor of Entrepreneurial Action
Fitza, M., Hayward, M., Hunt, R., Moore, D.
False Precision?: Organizational Antecedents and Implications of Earnings Guidance Precision
Fitza, M., Hayward, M., Hunt, R., Moore, D.
False Precision?: Organizational Antecendents and Implications of Earnings Guidance Prescision
Fitza, M., Hayward, M., Moore, D.
False precision?: Organizational antecedents and implications of earnings guidance precision
Fitza, M., Ma, X., Tong, T.
How much does ownership type matter?: Evidence from China
Fitza, M., Kortmann, S., Perols, J., Zimmermann, C.
Exploring the "dynamics" of dynamic capabilities: the anteceding role of communual culture
Clark, C., Fitza, M.
How and when does transparency enhance competitive advantage?
Fitza, M.
IPO underpricing, money left on the table or strategic action?
Fitza, M., Hayward, M., Miaskiewicz, T., Zimmermann, C.
Press attention, managerial overconfidence and the post-IPO performance puzzle
Fitza, M., Heeley, M., Matusik, S.
CVC from the start-up perspective: a quality or mixed signal?
Fitza, M., Heeley, M., Matusik, S.
Conditional effects of CVC funding from the start-up perspective
Fitza, M.
Do CEOs Matter: the use of variance decomposition in the investigation of CEO effects
Fitza, M.
IPO underpricing, the perspective of the issuing firm: money left on the table or strategic action
Fitza, M.
CEOs matter, but not that much
Fitza, M., Matusik, S.
CVC from the start-up perspective: a quality or mixed signal
Fitza, M., Matusik, S.
Diversification in the venture capital industry: leveraging knowledge under uncertainty
Fitza, M., Matusik, S., Mosakowski, E.
Do VCs matter?: The importance of owners on performance variance in start-up firms
Dean, T., Fitza, M.
The relative importance of VC certification in the mitigation of information asymmetry at IPOs
Dean, T., Fitza, M.
Venture capital investment as capital market signal in new ventures at IPO: a comparative investigation of venture capitalist and investment bank reputation effects
Fitza, M., Matusik, S.
Diversification of Knowledge Assets and Performance: evidence from the Venture Capital Industry
Fitza, M., Matusik, S.
Diversification of Knowledge Assets and Performance: Evidence from the Venture Capital Industry
Fitza, M., Matusik, S.
Diversification of knowledge assets and performance: evidence from venture capital investments
Fitza, M.
How much do Venture Capital firms matter for the post-investment fates of start-up firms?
Fitza, M., Hayward, M.
The news media as purveyor of public status: evidence from CEO compensation
Fitza, M., Matusik, S., Mosakowski, E.
Venture Capitalists' influences on start-up success versus failure
Fitza, M., Hayward, M., Larsen, K.
Claims to Fame: linking the availability of CEO press attention to CEO compensation
Fitza, M., Matusik, S.
Diversification and performance in the VC industry: an exploration of leveraging knowledge assets
Fitza, M., Matusik, S., Mosakowski, E.
Measuring VC effects: what contributes to start-up firms' performance variance
Fitza, M., Matusik, S., Mosakowski, E.
Do VCs matter?: Evidence from performance variance in start-up firms
Does ownership form matter?: Evidence from the UK
| Strategic Management Society, 34th SMS Annual International Conference, 2014, Madrid. |
Fitza, M., Harrison, J.
Heterogeneity of corporate parents and the paradox of corporate venture capital: a social capital perspective
| Strategic Management Society, 34th SMS Annual International Conference, 2014, Madrid. |
Fitza, M., Harrison, J.
Heterogeneity of corporate parents and the paradox of corporate venture capital: a social capital approach
| Babson College, 34th Entrepreneurship Research Conference, 2014, London, Ontario. |
Fitza, M., Sohl, T., Vromm, G.
How Much Does Business Model Matter?
| Strategic Management Society, 34th SMS Annual International Conference, 2014, Madrid. |
Albert, L., Dean, T., Fitza, M., Josefy, M.
Behind the Curtain: an empirical analysis of the mission-based model of antecedents in social entrepreneurship
| NYU Stern, 10th Annual Conference on Social Entrepreneurship, 2013, New York. |
Albert, L., Dean, T., Fitza, M., Josefy, M.
Crowdfunding and a mission-based model of social entrepreneurship
| Kauffman Foundation, Conference on Crowdfunding, 2013, Boulder, CO. |
Doblinger, C., Dowling, M., Fitza, M.
Does country matter for the performance of new ventures?
| Babson College, 33rd Entrepreneurship Research Conference, 2013, Lyon. |
Fitza, M., Lerner, D.
Disinhibition & Entrepreneurial Behavior: a new and integrative Predictor of Entrepreneurial Action
| Babson College, 32nd Entrepreneurship Research Conference, 2012, Fort Worth, TX. |
Fitza, M., Hayward, M., Hunt, R., Moore, D.
False Precision?: Organizational Antecedents and Implications of Earnings Guidance Precision
| Academy of Management, Annual Meeting, 2012, Boston, MA. |
Fitza, M., Hayward, M., Hunt, R., Moore, D.
False Precision?: Organizational Antecendents and Implications of Earnings Guidance Prescision
| Academy of Management, Annual Meeting, 2012, Boston. |
Fitza, M., Hayward, M., Moore, D.
False precision?: Organizational antecedents and implications of earnings guidance precision
| Strategic Management Society, 32nd SMS Annual International Conference, 2012, Prag. |
Fitza, M., Ma, X., Tong, T.
How much does ownership type matter?: Evidence from China
| Strategic Management Society, 32nd SMS Annual International Conference, 2012, Prag. |
Fitza, M., Kortmann, S., Perols, J., Zimmermann, C.
Exploring the "dynamics" of dynamic capabilities: the anteceding role of communual culture
| Academy of Management, Annual Meeting, 2011, San Antonio, TX. |
Clark, C., Fitza, M.
How and when does transparency enhance competitive advantage?
| Strategic Management Society, 31st SMS Annual International Conference, 2011, Miami, FL. |
Fitza, M.
IPO underpricing, money left on the table or strategic action?
| Strategic Management Society, 31st SMS Annual International Conference, 2011, Miami, FL. |
Fitza, M., Hayward, M., Miaskiewicz, T., Zimmermann, C.
Press attention, managerial overconfidence and the post-IPO performance puzzle
| Babson College, 31st Annual Entrepreneurship Research Conference, 2011, Syracuse, NY. |
Fitza, M., Heeley, M., Matusik, S.
CVC from the start-up perspective: a quality or mixed signal?
| Strategic Management Society, 30th SMS Annual International Conference, 2010, Rom. |
Fitza, M., Heeley, M., Matusik, S.
Conditional effects of CVC funding from the start-up perspective
| Babson College, 30th Annual Entrepreneurship Research Conference, 2010, Lausanne. |
Fitza, M.
Do CEOs Matter: the use of variance decomposition in the investigation of CEO effects
| Strategic Management Society, 30th SMS Annual International Conference, 2010, Rom. |
Fitza, M.
IPO underpricing, the perspective of the issuing firm: money left on the table or strategic action
| Babson College, 30th Entrepreneurship Research Conference, 2010, Lausanne. |
Fitza, M.
CEOs matter, but not that much
| Academy of Management, Annual Meeting, 2009, Chicago, IL. |
Fitza, M., Matusik, S.
CVC from the start-up perspective: a quality or mixed signal
| Babson College, 29th Entrepreneurship Research Conference, 2009, Babson Park, MA. |
Fitza, M., Matusik, S.
Diversification in the venture capital industry: leveraging knowledge under uncertainty
| Strategic Management Society, 29th SMS Annual International Conference, 2009, Washington, DC. |
Fitza, M., Matusik, S., Mosakowski, E.
Do VCs matter?: The importance of owners on performance variance in start-up firms
| Academy of Management, Entrepreneurship Research Exemplars Conference, 2009, Connecticut. |
Dean, T., Fitza, M.
The relative importance of VC certification in the mitigation of information asymmetry at IPOs
| Academy of Management, Annual Meeting, 2009, Chicago, IL. |
Dean, T., Fitza, M.
Venture capital investment as capital market signal in new ventures at IPO: a comparative investigation of venture capitalist and investment bank reputation effects
| Babson College, 29th Entrepreneurship Research Conference, 2009, Babson Park, MA. |
Fitza, M., Matusik, S.
Diversification of Knowledge Assets and Performance: evidence from the Venture Capital Industry
| Univ. of Washington, 6th West Coast Research Symposium on Technology Entrepreneurship, 2008, Seattle. |
Fitza, M., Matusik, S.
Diversification of Knowledge Assets and Performance: Evidence from the Venture Capital Industry
| Stanford Univ., 6th West Coast Research Symposium on Technology Entrepreneurship, 2008, Palo Alto, CA. |
Fitza, M., Matusik, S.
Diversification of knowledge assets and performance: evidence from venture capital investments
| Academy of Management, Annual Meeting, 2008, Anaheim, CA. |
Fitza, M.
How much do Venture Capital firms matter for the post-investment fates of start-up firms?
| Strategic Management Society, 28th SMS Annual International Conference, 2008, Köln. |
Fitza, M., Hayward, M.
The news media as purveyor of public status: evidence from CEO compensation
| Strategic Management Society, 28th SMS Annual International Conference, 2008, Köln. |
Fitza, M., Matusik, S., Mosakowski, E.
Venture Capitalists' influences on start-up success versus failure
| Babson College, 28th Entrepreneurship Research Conference, 2008, Chapel Hill, NC. |
Fitza, M., Hayward, M., Larsen, K.
Claims to Fame: linking the availability of CEO press attention to CEO compensation
| Academy of Management, Annual Meeting, 2007, Philadelphia. |
Fitza, M., Matusik, S.
Diversification and performance in the VC industry: an exploration of leveraging knowledge assets
| Babson College, 27th Entrepreneurship Research Conference, 2007, Madrid. |
Fitza, M., Matusik, S., Mosakowski, E.
Measuring VC effects: what contributes to start-up firms' performance variance
| Strategic Management Society, 27th SMS Annual International Conference, 2007, San Diego, CA. |
Fitza, M., Matusik, S., Mosakowski, E.
Do VCs matter?: Evidence from performance variance in start-up firms
| Babson College, 26th Entrepreneurship Research Conference, 2006, Bloomington, IN. |
Hayward, M., Fitza, M., Moore, D.
False precision?: Organizational antecedents in the use of earnings guidance precision, UQ Business School, Univ. of Queensland, Workshop Series, 2011/08/01, Brisbane.
False precision?: Organizational antecedents in the use of earnings guidance precision, UQ Business School, Univ. of Queensland, Workshop Series, 2011/08/01, Brisbane.
OFFICE HOURS
During the lecture period
By appointment available upon request via email.
Room
C4.40
OFFICE HOURS
During the lecture period
By appointment available upon request via email.
Room
C4.40