WM. GERARD (GERRY) SANDERS
Office:
351 McNair
Jones Graduate School of Business
Rice University
Houston, TX 77005
Phone:
Mobile:
Email:
713-348-6307
713-306-4024
gerry.sanders@rice.edu
ACADEMIC POSITIONS
Professor of Strategic Management, Jones Graduate School of Business, Rice University, July
2008-present.
Area Leader, Strategy and Environment area, Jones Graduate School of Business, Rice
University, 2009-present.
Professor, Marriott School of Management, Brigham Young University, May 2008-July 2008.
Department Chair, Organizational Leadership and Strategy, Marriott School of Management,
Brigham Young University 2005-2008.
Associate Professor, Marriott School of Management, Brigham Young University, 2002-2008. J.
Earl Garrett Fellow in Management.
Visiting Associate Professor of Management, Smeal College of Business, Penn State University,
Spring semester, 2004.
Assistant Professor, Marriott School of Management, Brigham Young University, 1996-2002.
EDUCATION
Ph.D., Strategic Management, The University of Texas at Austin. August 1996.
B.S., Business Administration (Finance), Brigham Young University, December 1980.
PUBLICATIONS
Sanders, W.G., & Devers, C.E. forthcoming. CEO Compensation: A Review and Research
Agenda. In Teece, D. & Augier, M. (Eds) Palgrave Encyclopedia of Strategic Management.
Sanders, W.G., Tushcke, A. C. 2010. Corporate elite career experiences and strategic
preferences: the case of the Chinese corporate governance reform. In Carpenter, M.A. (Ed) The
Handbook of Research on Top Management Teams, Edward Elgar Publishing, Inc.:
Northampton, MA
Fredrickson, J.W., Davis-Blake, A., & Sanders, W.G. 2010. Sharing the wealth: Social
comparisons and pay dispersion in the CEO’s top team. Strategic Management Journal, 31:
1031-1053.
Sanders, W.G. & Hambrick, D.C. 2007. Swinging for the fences: The effects of CEO stock
options on company risk-taking and performance. Academy of Management Journal, Oct2007,
50: 1055-1078.
Sanders, W.G. & Tuschke, A.C. 2007. The adoption of institutionally contested organizational
practices: The emergence of stock option pay in Germany. Academy of Management Journal,
50: 33-56.
Sanders, W.G. & Boivie, S. 2004. Sorting things out: Valuation of new firms in uncertain
markets. Strategic Management Journal, 25: 167-186.
Carpenter M. and Sanders, W.G., 2004. The effects of top management team pay and firm
internationalization on MNC performance. Journal of Management, 30:509-528
Carpenter, M.A., Geletkanycz, M. A., and Sanders, W.G. 2004. The upper echelons revisited:
Antecedents, elements, and consequences of top management team composition. Journal of
Management, 30: 749-778.*
*Awarded Best Paper prize in 2009 based on five year citation counts.
Tuschke, A.C. & Sanders, W.G. 2003. Antecedents and consequences of corporate governance
reform: The case of Germany. Strategic Management Journal, 24: 631-650.
Sanders, W.G. and Carpenter, M.A. 2003. Strategic satisficing? A behavioral-agency perspective
on stock repurchase program announcements. Academy of Management Journal, 46: 160-178.
Carpenter, M. and Sanders, W.G. 2002. Top management team compensation: The missing
link between CEO pay and firm performance? Strategic Management Journal, 23: 367-375.
Sanders, W.G. 2001. Behavioral responses of CEOs to stock ownership and stock option pay.
Academy of Management Journal, 44: 477-492.
Sanders, W.G. 2001. Incentive alignment, CEO pay level, and firm performance: A case of
“Heads I win, tails you lose? Human Resource Management, 40: 159-170.
Carpenter, M., Sanders, W.G., and Gregersen, H.B. 2001. Bundling human capital with
organizational context: The impact of international assignment experience on multinational firm
performance and CEO pay. Academy of Management Journal, 44: 493-512.
Carpenter, M., Sanders, W. G., and Gregersen, H. B. 2000. CEO International Assignment
Experience: A Model and Evidence of Financial Benefits to Firms and CEOs. Human Resource
Management 39: 277-285.
Sanders, W.G. 1999. Incentive structure of CEO stock option pay and stock ownership: The
moderating effects of firm risk. Managerial Finance, 25: 61-75.
Carter, S. and Sanders, W.G. 1999. Does sticking to the knitting unravel your corporate
reputation? In Dynamic Strategic Resources: Development, Diffusion and Integration, Hitt, M.,
Clifford P., Nixon, R. and Coyne K. (Eds.), John Wiley & Sons (pp. 165-190).
Sanders, W.G. and Carpenter, M. 1998. Internationalization and firm governance: The roles of
CEO compensation, top team composition, and board structure. Academy of Management
Journal, 41: 158-178.
A synopsis of this research was published in the May-June 1999 issue of Academy of
Management Executive entitled “Two heads are better than one if your company spans the
globe” by Marc Mentzer.
PEER REVIEWED CONFERENCE PROCEEDINGS
Tuschke, A.C. & Sanders, W.G. 2003. The adoption of illegitimate organizational innovations:
The emergence of stock option pay in Germany. Academy of Management Best Papers
Proceedings, 2003.
Sanders, W.G. and Carpenter, M. 1999. A behavioral perspective of strategic initiative adoption:
The case of stock repurchase programs. Academy of Management Best Papers Proceedings,
1999.
Sanders, W.G. and Carpenter, M. 1996. Internationalization and firm governance: The roles of
CEO compensation, top team composition, and board structure. Academy of Management
Special Proceedings, 1996.
Sanders, W.G. 1995. Executive contingent compensation: Risk premiums and wealth windfalls.
Academy of Management Special Proceedings, 1996.
Sanders, W.G., Davis-Blake, A., and Fredrickson, J.W. 1995. Prizes with strings attached:
Determinants of the structure of CEO compensation. Academy of Management Best Papers
Proceedings: 266-270.
MANUSCRIPTS UNDER REVIEW
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Whose Experience Matters in the Boardroom?
The Effects of Experiential and Vicarious Learning on Emerging Market Entry. Under review at
Strategic Management Journal.
Hernandez, E., Sanders, W.G., & Tuschke, A.C. What I Know or What My Partner Knows: The
Evolution of Social Capital in German Corporate Boards. Under review at Management Science.
Sanders, W.G. & Tuschke, A.C. When Iron Turns to Dust: The Influence of Role Models on
Emerging Market Entry under Varying Degrees of Risk. Under review at Academy of
Management Journal
Ren, C., Sanders, W.G., Hu, Y. Switching Enemies: Strategic Similarity, Exit of Rivals and
Product Variety Competition. Under Review at Academy of Management Journal
WORKING PAPERS AND WORK IN PROGRESS
Boivie, S. & Sanders, W.G., Graffin, S. Accumulated pay: A longitudinal examination of the
effects of over and underpayment. Target Journal: Academy of Management Journal.
Sanders, W.G., Tuschke, A.C., & Hernandez, E. CEO Hubris and Corporate Fraud. (Status:
data collection 75% complete. Target journal Academy of Management Journal or Strategic
Management Journal).
Sanders, W.G. & Tuschke, A.C. Effects of Corporate Elite Experiences on Governance
Choices: Appointment of Independent Directors in Chinese Listed Companies
Sanders, W.G. Governance and strategy in an emerging market: The evolution of China’s largest
firms. Work in progress.
Sanders, W.G. & Tuschke, A.C. The Effects of Fund Manager Experience and Education on
Perceptions and Preferences for Governance Configuration. Work in progress.
Sanders, W.G., Gregersen, H.B., Carpenter, M.A, & Marx, E. The evolution of boards and top
management teams in response to governance turmoil: The case of UK FTSE 100. (Status: data
collection 75% complete; target journal: Journal of International Business Studies).
RESEARCH PRESENTATIONS
Sanders, W.G. & Tuschke, A.C. When Iron Turns to Dust: The Influence of Role Models on
Emerging Market Entry under Varying Degrees of Risk. Univeresit of Illinois, October, 2011.
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Whose experience matters and when? The
effects of interlock heterogeneity and firm experience on strategic choice. University of
Wisconsin, September, 2011.
Sanders, W.G. & Tuschke, A.C. When Iron Turns to Dust: The Influence of Role Models on
Emerging Market Entry under Varying Degrees of Risk. TCU, May, 2011.
Sanders, W.G. & Tuschke, A.C. Entry Patterns into Foreign Markets: The Influence of Risk
and Experience on Mimetic Behavior. Presentation at the Strategic Management Society annual
meetings in Rome, Italy. September, 2010.
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Whose experience matters and when? The
effects of interlock heterogeneity and firm experience on strategic choice. University of Texas,
January, 2011.
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Whose experience matters and when? The
effects of interlock heterogeneity and firm experience on strategic choice. University of
Minnesota, October, 2010.
Tuschke, A.C. & Sanders, W.G. Entry Patterns into Foreign Markets: The Influence of Risk and
Experience on Mimetic Behavior. Presentation at the Strategic Management Society annual
meetings in Rome, Italy. September, 2010.
Hernandez, E., Sanders, W.G., & Tuschke, A.C. Strategic Experience Accumulation and the
Evolution of Network Structure in German Board Interlocks. Klein Distinguished Presenter
Series, Carroll School of Management, Boston College. November 2009,
Hernandez, E., Sanders, W.G., & Tuschke, A.C. Strategic Experience Accumulation and the
Evolution of Network Structure in German Board Interlocks. Academy of Management
Chicago, IL. August, 2009.
Sanders W.G. & Tuschke, A.C. Effects of Corporate Elite Experiences on Governance Choices:
Appointment of Independent Directors in Chinese Listed Companies. Strategic Management
Society, October 2009, Washington D.C.
Tuschke, A.C. & Sanders, W.G. Strategy Process Routines and their Content Outcomes.
Strategic Management Society, October 2008 Cologne Germany. (both presenters)
Sanders, W.G. & Tuschke, A.C. Experiential Effects on Strategic Preferences: The Case of the
Chinese Corporate Upper Echelons, International Association for Chinese Management
Research, June 2008, Guangzhou, China (Sanders presenter)
Ethics in Publishing. August 2008. Academy of Management Meetings in Anaheim, CA
(multiple presenters)
Tuschke, A.C. & Sanders, W.G. Entry Patterns into Foreign Markets: The Influence of Risk and
Experience on Mimetic Behavior. August 2008. Academy of Management Meetings in
Anaheim, CA (Tuschke presenter)
Sanders, W.G. Stock Options as Incentive Mechanisms in the US: Opportunities and Warning
Signs for Developing Economies. November 2007. 4th International Symposium of Corporate
Governance. Nankai Univeresity, Tianjin, China. (Sanders presenter)
Sanders, W.G. Compensation as an Executive Motivational Tool: Agency and Stewardship
Perspectives. Presented at the Academy of Management Meetings in Philadelphia, PA, August
2007.
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Are All Board Interlocks Created Equal? The
Differential Impact of Sent, Received, and Neutral Ties. Presented at the Academy of
Management Meetings in Philadelphia, PA, August 2007.
Tuschke, A.C., Sanders, W.G., & Hernandez, E. Are All Board Interlocks Created Equal? The
Differential Impact of Sent, Received, and Neutral Ties. Presented at the Strategic Management
Society Meetings in Vienna, October 2006.
Fredrickson, J.W., Davis-Blake, A., Sanders, W.G. Inequality at the top: Determinants of pay
dispersion within the top management team. Presented at the Strategic Management Society
Meetings in Orlando, FL, November 2005.
Sanders, W.G. and Hambrick, D.C. Swinging for the Fences: The Effects of Stock Option Pay
on Firm Investments and Performance. Paper presented that the Academy of Management
Meetings in Honolulu, HI., August 2005.
Sanders, W.G., Marx. E. Director International Experience: The Case of the UK FTSE 100.
Paper presented at the Academy of Management Meetings in Honolulu, HI, August 2005.
Sanders, W.G. and Hambrick, D.C. Swinging for the Fences: The Effects of Stock Option Pay
on Firm Investments and Performance. Paper presented that the Texas Conference on
Corporate Governance, University of Texas at Austin, February 2004.
Conversations on Corporate Leadership and Governance (with Marta Geletkanycz). Coorganizer of a BPS/OMT workshop at the Academy of Management Meetings in Seattle, WA,
August 2003.
The Adoption of Illegitimate Organizational Innovations: The Emergence of Stock Option Pay
in Germany. Paper presented at the Academy of Management Meetings in Seattle, WA, August
2003.
Too much of a good thing? The performance effects of executive compensation structure.
Presented at the Academy of Management Meetings in Denver, CO, August 2002.
Surviving the Internet Bubble: Examining the Links between Modes of Growth and
Commercial Success (with S. Boivie). Presented at the Academy of Management Meetings in
Denver, CO, August 2002.
Surviving the Internet Gold rush: What types of growth lead to success? (with S. Boivie)
Presented at the 2001 Strategic Management Society Meetings in San Francisco, CA October
2001. Finalist for best paper prize.
The Emergence of a shareholder value system in Germany and its effects on firm performance:
Theory and evidence. (with A. Tuschke) To be presented at the 2001 Strategic Management
Society Meetings in San Francisco.
Virtual lemons: Quality uncertainty, market signalling, and the valuation of new economy firms.
(with S. Boivie) Presented at the Academy of Management Meetings in Washington D.C.,
August 2001.
Effects of Corporate Governance Reform: Evidence from Germany. (with A. Tuschke)
Presented at the Academy of Management Meetings in Washington D.C. August 2001.
Do firm resources drive acquisition activity: Theory and evidence. Presented at the Academy of
Management Meetings in Washington D.C., August 2001.
Corporate Governance.com: Do old mechanisms fit new business models? (with S. Boivie)
Presented at the Strategic Management Society for the 2000 meetings. Nominated for best
paper prize.
Top management team compensation and the performance of U.S. multinationals. (with M.
Carpenter) BYU/UU Winter Strategy Conference 2000.
Top management team compensation in multinational firms: An information-processing
framework. (with M. Carpenter) Presented at the Association of International Business 1999
annual meetings, Charleston, S.C.
Top management team compensation and the performance of U.S. multinationals. (with M.
Carpenter) Strategic Management Society meetings in Berlin, Germany 1999. Best Paper
finalist.
A behavioral perspective of strategic initiative adoption: The case of stock repurchase programs.
(with M. Carpenter) Paper presented at the 1999 Academy of Management meetings in
Chicago, IL.
Building human capital with organizational context: The impact of international experience on
CEO pay and multinational firm performance. (with M. Carpenter and H.B. Gregersen). Paper
presented at the 1998 Academy of Management meetings, San Diego, California.
Does Sticking to the Knitting Unravel Your Corporate Reputation? (with S. Carter) Paper
presented at the 1998 Strategic Management Society meetings, Orlando, Florida.
CEO financial incentives, firm investment activity, and subsequent firm performance. Paper
presented at the 1997 Strategic Management Society annual meeting in Barcelona, Spain.
Symbolic churning: The effects of CEO incentives on acquisition and divestiture activity. Paper
presented at the OMT division of the 1997 Academy of Management meetings, Boston,
Massachusetts.
When it rains it pours: CEO long-term contingent compensation, risk premiums, and wealth
windfalls. Paper presented at the BPS division at the 1997 Academy of Management meetings,
Boston, Massachusetts.
Executive contingent compensation: Risk premiums and wealth windfalls. Paper presented at
the 1996 Academy of Management meetings, Cincinnati, Ohio.
Internationalization and firm governance: The roles of CEO compensation, top team
composition, and board structure. (with Carpenter, M.) Paper presented at the 1996 Academy of
Management meetings, Cincinnati, Ohio.
TMT compensation and corporate reputation: Enhancing intangible assets. (with S. Carter)
Paper presented at the 1996 Academy of Management meeting, Cincinnati, Ohio.
Prizes with strings attached: Determinants of the structure of CEO compensation. (with A.
Davis-Blake, J.W. Fredrickson) Paper presented at the 1996 Academy of Management meetings,
Vancouver, B.C.
Determinants of compensation dispersion among top management team members. (with A.
Davis-Blake & J.W. Frerickson) Paper presented at the 1995 Academy of Management meetings,
Vancouver, B.C.
TEACHING PUBLICATIONS
Stewart, G.L., Sanders, W.G., & Brown, K.G. 2012. Management: Linking Knowledge and
Skills. Hoboken, NJ: Wiley
Carpenter, M.A. & Sanders, W.G. 2007. Strategic Management: A Dynamic Perspective. Upper
Saddle River, NJ: Prentice Hall. (Released for adoption in March 2006).
Second edition published January 2009.
Third edition in preparation for publication in 2012.
− Six Flags: A Strategic Roller Coaster? 2011
− The Theme Park Industry, 2011
− Porsche Red Line Strategy (B) (with Anja Tuschke), 2011
− Southwest College of Naturopathic Medicine, 2007. Written case, video, and teaching note.
− Pacific Cycle, 2007. Written case, video, and teaching note.
− Neurocare, 2007. Written case, video, and teaching note.
− SNOCAP, 2007. Video and teaching note.
− SAB Miller-Coors Alliance, 2009. Written case and teaching note.
− Two-buck Chuck, 2007. Written case and teaching note.
− Citi’s governance challenge, 2008 (Written case)
− GE’s New Vision, 2008 (Written case)
− Redline Strategy: Porsche/VW, 2009 (Written case)
− RedBull, 2009 (Written case)
− Chery Motors, 2008 (Written case)
− Chipotle, 2009 (Written case)
− Bob Nardelli’s Challenge: Fixing Chrysler’s, 2009 (Written case)
JOURNAL EDITORIAL BOARDS AND REVIEWER EXPERIENCE
Associate Editor
Academy of Management Journal, July, 2007-2010
Editorial Board Member Academy of Management Journal 2004 - Present
Academy of Management Review 2006 - 2008
Ad Hoc Reviewer
Administrative Science Quarterly
Organization Science
Strategic Management Journal
Journal of Management
Journal of Applied Psychology
Reviewer
AOM, BPS & OMT divisions 1994-Present
GRANTS AND RESEARCH FUNDING
Mentored Research Grant, Brigham Young University, 2007. ($20,000 grant to conduct research
on governance in China)
Young Scholar Award, Brigham Young University 2003.
Outstanding Research Award, Marriott School of Management 2003.
J. Earl Garrett Fellowship in Management, 2002-2008.
Grant from the Global Management Center (2003), Brigham Young University, to study the
effects of corporate governance and strategy in cross-board acquisitions and mergers.
Dean’s office research grant (2001) for the study of the evolution of corporate governance in
new (e.g., Internet) and transitioning (countries with a traditional stakeholder orientation)
economies.
Grant from the Rollins Center for e-Business (2000) for the study of the association between
strategy, corporate governance, and firm performance among Internet IPOs.
Grant from the Center for International Business Education and Research (CIBER) for the
study of executive pay practices and their effects on performance in multi-national firms.
Dean’s office research grant (summer 1998) for the study of the role of firm and executive level
international experiences as a predictor of foreign acquisitions in the European Community.
Marriott School of Management special research grant, 1996-1997 academic year.
Eugene and Dora Bonham Memorial Fund, 1995. College-wide competitive research grant for
doctoral student research.
Dean’s Award, 1995. Scholarship awarded to selected Ph.D. students in the college of business.
PROFESSIONAL MEMBERSHIPS
Academy of Management
Strategic Management Society
Internatioal Association for Chinese Management Research
PROFESSIONAL EXPERIENCE
Twelve-year career in institutional investment management with Equitec Financial Group, The
Koll Company, and Bechtel Investments. Vice President in charge of negotiating large property
acquisitions, financings, and divestitures. Managed offices in San Francisco, Atlanta, and
Chicago. Also organized and managed firm’s entry into the Savings Bank industry (commercial
mortgage origination).
SELECTED OTHER ACTIVITIES
Program Chair, Corporate Governance and Strategy interest group, Strategic Management
Society, 2010-2011.
Newman Award Committee Chair (best paper based on a dissertation), Academy of
Management 2011.
Dean’s Advisory Council, Jones Graduate School of Business, Rice Univeristy. 2008-present.
Organization and Management Theory Best Paper Award committee, Academy of Management
2010.
Newman Award selection committee (best paper based on a dissertation), Academy of
Management 2010.
Associate Program Chair, Corporate Governance and Strategy interest group, Strategic
Management Society, 2009-2010.
Strategic Management Society Code of Conduct Task Force, 2008.
Judge for the finals of the 2006 INFORMS/Organization Science Dissertation Proposal
Competition. Pittsburgh, PA.
Member of the Marriott School Executive Council, 2005-2008 Strategic Management Society
Code of Conduct Task Force, 2008.
Judge for the SMS Best Paper Award, 2004-2007.
Panelist for the New Faculty Consortium of the Business Policy and Strategy division of the
Academy of Management, 2006. Atlanta, GA.
Rank and Status committee member, Marriott School, Brigham Young University, 2003-2004
New faculty consortium panel member. BPS division of the Academy of Management, August
2004.
Research Committee member, Business Policy and Strategy division of the Academy of
Management, 2003-2004.
Invited participant in the 1999 New Faculty Consortium for the Business Policy and Strategy
division at the Academy of Management meetings in Chicago, IL.
Invited participant in the 1997 New Faculty Consortium for the Organization Management and
Theory division at the Academy of Management meetings in Boston, MA.
Invited participant in the 1995 Doctoral Consortium for Strategic Management at the Academy
of Management meetings in Vancouver B.C.
Completed twleve marathons since 1997.
Completed an Ironman event in 2007.