Daniel Forbes

Associate Professor
Strategic Management & Entrepreneurship


  • PhD 2000
    Management & Organizational Behavior, NYU Stern School of Business
  • BA 1992
    Politics, Economics, Rhetoric & Law, University of Chicago


  • Creation & financing of new ventures
  • Managing innovation in new & established firms
  • Commercializing science-based technologies
  • Social psychology of entrepreneurship
  • Corporate governance


Daniel Forbes is an Associate Professor in the Strategic Management & Entrepreneurship department at the Carlson School. He has also been named a Schulze Distinguished Professor of Entrepreneurship by the Richard M. Schulze Family Foundation. Since joining the Carlson School in 2000, Dan has taught courses on strategy, innovation, and entrepreneurship to students in the MBA, undergraduate, and executive education programs. He also does research on how people make decisions related to the creation, financing, and management of new ventures. His research has been funded by the National Science Foundation and been published in the Academy of Management Journal, Academy of Management Review, Strategic Management Journal, Organization Science, and the Journal of Business Venturing, among other outlets. He also serves as a Senior Editor for Entrepreneur & Innovation Exchange, which publishes content for a broader audience. He has worked closely with several initiatives that connect the University with businesses and communities around the world, including the Minnesota Cup, the Carlson Ventures Enterprise, and the Product Design Program. He has also worked with strategy- and innovation-related programs for a variety of companies, including 3M, Allianz, CHS, Donaldson, Ecolab, General Mills, Medtronic, Polaris, and US Bank. In 2013-14 he served as a visiting fellow at the University of Virginia, Darden School of Business. In 2020 he was named a Fellow of the University of Minnesota's Institute on the Environment, where he focuses on the commercialization on environmental technologies. Prior to his academic career, Dan worked in investment banking and as a program manager for a nonprofit organization. He holds a Ph.D. from New York University, and his undergraduate degree is from the University of Chicago.

Selected Works & Activities.

  • Journal Articles
    "Lab, Gig, or Enterprise? How scientist-inventors form nascent startup teams," with Mary Zellmer-Bruhn, Harry Sapienza & Patricia Borchert, Journal of Business Venturing (2021)
  • Journal Articles
    "Signal strength, media attention, and new firm resource mobilization: Evidence from new private equity firms," with Tom Vanacker, Mirjam Knockaert & Sophie Manigart, Academy of Management Journal (2020)
  • Journal Articles
    "When do scientists commercialize their inventions? Insights from the Theory of Planned Behavior," with Lisa Auster-Gussman, Entrepreneur & Innovation Exchange (2019)
  • Book Chapters
    "'Born, not made' and other beliefs about entrepreneurial ability," in G. Ahmetoglu et al., (Eds.), The Wiley Handbook of Entrepreneurship (2017)
  • Journal Articles
    "Disentangling the multiple effects of affiliate reputation on resource attraction in new ventures," with Tom Vanacker, Organization Science (2016).
  • Book Chapters
    "The infrastructure of entrepreneurial learning," in R. Mitchell et al., (Eds.), The Handbook of Entrepreneurial Cognition (2014).
  • Journal Articles
    "The study of emerging industries: Recognizing and responding to some central problems," with David Kirsch, Journal of Business Venturing (2011).
  • Journal Articles
    "Financing decisions as a source of conflict in venture boards," with Audrey Korsgaard & Harry Sapienza, Journal of Business Venturing (2010).
  • Journal Articles
    "Reconsidering the strategic implications of decision comprehensiveness," Academy of Management Review (2007).
  • Journal Articles
    "Entrepreneurial team formation: An exploration of new member addition," with Pat Borchert, Mary Zellmer-Bruhn & Harry Sapienza, Entrepreneurship Theory and Practice (2006).
  • Book Chapters
    "Cognitive approaches to new venture creation," in P. Davidsson (Ed.), New Firm Startups (1999, reprinted 2006)
  • Journal Articles
    "Managerial determinants of decision speed in new ventures," Strategic Management Journal (2005).
  • Conference Proceedings
    "The entrepreneurial intentions of scientist-inventors," with Jaume Villanueva, Mary Zellmer-Bruhn & Harry Sapienza, Frontiers of Entrepreneurship Research (2005)
  • Journal Articles
    "Are some entrepreneurs more overconfident than others?", Journal of Business Venturing (2005).
  • Journal Articles
    "Strategic responses to an environmental jolt: Executive turnover in Internet IPOs", with Shalini Manrakhan & Sanjay Banerjee, Journal of Private Equity (2004)
  • Book Chapters
    "The self-determination motive and entrepreneurs' choice of financing," with Harry Sapienza & Audrey Korsgaard, in J. Katz & D. Shepherd (Eds.), Advances in Entrepreneurship, Firm Emergence, and Growth (2003).
  • Journal Articles
    "Cognition and corporate governance: Understanding boards of directors as strategic decision-making groups," with Frances Milliken, Academy of Management Review (1999).
  • Journal Articles
    "Measuring the unmeasurable: Empirical studies of nonprofit organization effectiveness from 1977 to 1997," Nonprofit and Voluntary Sector Quarterly (1998).
  • Editorial Appointments

    Current or past Editorial Board Member for: Organization Science; Journal of Business Venturing; Strategic Entrepreneurship Journal; Academy of Management Discoveries; Entrepreneurship Theory & Practice.

    Senior Editor, Entrepreneur & Innovation Exchange

  • Honors and Awards

    Outstanding Reviewer Awards from Organization Science (2017), Academy of Management Discoveries (2015), Journal of Business Venturing (2009) and Entrepreneurship Theory & Practice (2006)

  • Scholarly Service

    Member, Faculty Consultative Committee for the Carlson School (2021-2024); Fellow of the U. of Minnesota's Institute on the Environment (2020 - present); Member, Graduate Faculty in Product Design (2015 - present); Academic Advisory Board, Acara, an interdisciplinary program supporting students' social innovation efforts (2015 - present).

  • Scholarly Service

    Representative at Large, Entrepreneurship & Strategy Interest Group of the Strategic Management Society (2018 - 2020); Representative at Large & Awards Committee Chair, Entrepreneurship Division of the Academy of Management (2011-2014).

  • Administrative Appointments

    Academic Director, Carlson Ventures Enterprise (2014 - present)

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