Hearing this a couple of times might just make you more interested in the tool. But what if you keep seeing this, popping up on different websites and in your news feed? Each time you see it, you start thinking more critically: wait, this technology is really new…and wait, in a space where everything is still up in the air, how did they determine it was the #1 deepfake-detection solution anyway?

At what point do you say to yourself, I’m not sure if I can trust this? When is it too much?

Asper Assistant Professor of Business Administration, Xiumei Li, recently published the article Entrepreneurial Market Leadership Claims, Cultural Resonance, and Investor Evaluations in Nascent Markets: The Goldilocks Effect in one of the most prestigious academic journals in the field, the Financial Times 50 (FT50)-ranked Journal of Management Studies to answer this very question.

She and her co-authors, Jade Lo (Drexel University), Derek Harmon (Michigan State University), and V.K. Narayanan (Drexel University), draw on insights from cultural entrepreneurship and psychology…with a key assist from a fairy tale.

The mere exposure effect

Before this project, Li was working on another study, sifting through data, when she noticed a pattern.

This original study was examining how entrepreneurs establish novelty and familiarity to influence potential investors.

She was looking through press release after press release from various entrepreneurial ventures and couldn’t help but notice—many of them were claiming they were a leader in their field, often in a nascent (new) market where evaluation criteria were not yet established (for example, a technology that is just being introduced to consumers).

“It’s not possible that everyone is a leader, right?” Li says. “In an early-stage market, the evaluation metrics are still being developed, and it’s very difficult to verify. Then I became interested in how investors evaluate these types of messages.”

Investors can make decisions that make, or break new entrepreneurial ventures. Companies therefore need to make the case that they are dependable and a good investment.

That’s where psychology came in. She began consulting classic social psychology papers about the mere exposure effect and the two-factor model—the idea that repetition boosts favorability at first but backfires when overdone.

“If you repeat a message three times, is it a good thing compared to five or more?” Li says.

Their study became about not what entrepreneurs were claiming, but how often they were claiming it—and how different levels of repetition shaped investor evaluations.

The Goldilocks Effect

By taking an innovative angle—frequency of the message, rather than the message itself—Li and her colleagues distinguished their research from other studies.

With their finger on the pulse on the classic social psychology literature, the team hypothesized that too little, or too much exposure to the market leadership claims would sway the investors away in a nascent market.

If there’s too little messaging, investors would experience a sense of uncertainty, and have a cautious reaction.

If there’s too much exposure to the claim, the research suggests that investors would clue into the fact that they’re being persuaded and resist the influence. It’s a movie that’s working too hard to make you cry.

However, if the claim is repeated within these goalposts—enough to have impact without overdoing it—individuals may experience the “truth effect,” the idea that as something is heard multiple times, it strikes a chord with you, and reduces any uncertainty you may have had—like a movie you get lost in, even though you know it’s pretend.

Their evidence included an archival study and an experiment. In the experiment, participants were exposed to fictional press releases with varying amounts of market leadership claims, then asked how likely they would be to invest.

Here, they found support for their theory in the form of an inverted U-shaped graph—showing that as claim frequency goes up in a nascent market, investor evaluations increase, plateau, and then go back down as the claim frequency gets too high.

The only thing left was to name this phenomenon.

Li says she can’t take credit for the name “The Goldilocks Effect”—that goes to her colleague Derek Harmon—but says “It adds more vividity—and maybe more people are interested in reading it.”

There are no bears or porridge in this paper, but the message stays the same: we’re always trying to find what’s just right, somewhere between too much and not enough.
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This article is only a small summation of the insights in Entrepreneurial Market Leadership Claims, Cultural Resonance, and Investor Evaluations in Nascent Markets: The Goldilocks Effect. You can learn more by reading the article online on Journal of Management Studies.

The Asper School of Business aims to expand the creation of global knowledge and engage in intellectual exploration to advance management research and practice. Our researchers’ scholarly work is regularly published in world’s most renowned outlets in the field.

Be part of this flourishing research culture and learn more about research programs in management (MSc and PhD) at the Stu Clark Graduate School.

On each annual World Mental Health Day, technology’s role in our lives changes. While the promise of technology has been to bring us closer, what we see in countless articles, books, and just everyday life, is that technology has driven us further apart, leaving us stressed and lonely.

Through the Asper School, Pu is on multiple research projects at the cross section of technology, mental health, and business, but with a positive spin. He’s on the forefront of figuring out how we can use these tools in an ethical, positive and responsible ways that promote mental health, or as he might say it, “looking inward.”

What effect has rapidly advancing technology had on our mental health?

Right now, everything is becoming metrified. And AI learns from that.

Think about friendship. It used to be only “we’re good friends, we share some common hobbies. We like each other, I feel good when I’m around this guy.” Now it’s how many likes, how many followers you have, how many mutual connections. That now seems to decide the value of your social worth.

There’s this term called the McDonalization of friendships. Everyone wants the fast track, when a real friendship requires more time, more energy.

In the future, when you apply that to mental health, it collapses the complex question of “how do you feel?” into something like “your depression is at a two, it needs to be at one.” Think how employers could use that data against us for the purpose of efficiency. “Your depression is at a three? That’s too high. You need to take a few days off.”

What I’m studying now, is, how can we stop moving in that direction.

Are there ways in which we can use technology like AI and social media in a positive way for our mental health?

I don’t want to undermine the detrimental effects of social media and AI on us. Our human mind is trained to get distracted, right? It’s a vicious cycle. Because of your short attention span, you can’t get any work done. You get stressed. You go to social media to come down. You get a shorter attention span. You get more stressed. On and on.

AI is a turbocharged version. Social media is like “you like this post? I’ll show you this.” It just wants your attention. AI is worse because it always wants more. When you ask for help creating something, it’ll do it then ask, “do you want a visualization of that?”

But on the other side, we can design a human-centred AI in a way that promotes mindfulness, right? It can say, “you don’t have to chat with me, go outside for a walk or chat with a friend. Give your family a call.”

It’s the same with social media. Both are such powerful tools that you could use them effectively to promote, say, deepening your offline relationships.

What kind of critical thinking should we do as these technologies become more prevalent in our day-to-day lives?

You have to realize that technology is pushing us to look outward. You got X amount of likes, rather than how you really feel.

Even this conversation, as it’s being recorded, AI is going to give you bullet points of the transcription, but is that all we really are? Bullet points? No, there’s a richness to this conversation that isn’t really being captured by that.

Before we had cameras, when we would look at something really new, we would just look at it, right? Imagine seeing an elephant for the first time, looking at the trunk, the big ears, everything. That’s great for our mental health. Now what do we do? We take a picture that you’ll probably never look at again, then we move on.

So that’s why I encourage everyone to look inward.

What is something positive people can try on World Mental Health day?

Personally, I would highly encourage people to meditate. I think we can incorporate that as part of our daily routine, to really understand ourselves.

Typically, I wake up one hour earlier in the morning, and just sit there, focus on my breath. Watch my thoughts go by.
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The Asper School of Business aims to expand global knowledge and engage in intellectual exploration to advance teaching, learning, and research. Our researchers’ scholarly work is regularly published in internationally renowned publications.

Be part of this flourishing research culture and learn more about research programs in management (MSc and PhD) at the Stu Clark Graduate School here

Asper School of Business PhD candidate Nazanin Khaksari studies consumer behavior, with a focus on sustainability. Originally from the massive city of Tehran, Iran, she comes from a Marketing background with a lifelong interest in psychology.

Lately, she’s been researching the gender gap in veganism.

While it may differ from country to country, an overwhelming majority of vegans tend to be women.

“There’s a lot of literature about how guys see their masculinity by eating more meat and steak and burgers and all of those things” she says.

“A buddy comes and says, ‘I’m vegan’ – they make fun of him.”

Veganism, and by extension, sustainability, is often associated with feminine traits.

“Sustainability is all about caring. Caring, it’s traditionally a feminine characteristic – as a mother, as a woman, you should care and be nurturing and kind and empathetic” says Khaksari.

Changing the Gendered Narrative on Veganism

All the thinking that Khaksari has done about this topic is part of her PhD thesis that explores how marketers can help overcome this gender gap in the vegan space.

Khaksari doesn’t propose a full move to veganism overnight, but rather small steps that both men and women can take that result in big long-term differences.

“My study was about just trying a vegan restaurant – not going and being vegan. Just trying it,” she says.

Khaksari also shares that her research goes beyond the absolutes of traits and associated behaviours embodied by all men and all women. The issue isn’t that simple.

Instead, she looks at “how people represent their gender in society and the effects of that in their choices of consumption.”

There’s a difference between the “tough guy who drives an F-150,” and a man with a softer, more feminine side. The same goes for women who display varying degrees of feminine and masculine traits, and buy different things depending on these traits.

Khaksari found that in the case of men who display highly masculine traits, there is a “gender identity threat” that serves as a barrier to sustainable tendencies.

In the world of consumer behavior, an “identity threat” stops people from buying things that don’t align with who they see themselves as or want others to see them as. Brands that understand what consumers perceive as threatening, can reverse-engineer their marketing mix to effectively target this audience.

As it applies to veganism, marketers must ask what exactly is threatening about it to men that embody highly masculine traits.

“Some brands can be masculine, some brands can be feminine. So, it’s about different elements of the brand, like the fonts, the colors, all the ways they use their tools to communicate,” Khaksari says. “I try to figure out which way is best.”

Her PhD supervisor, Professor and F. Ross Johnson Fellow Dr. Namita Bhatnagar, says that Khaksari is innovating in marketing research: “Nazanin’s thesis expands on the work linking gender and sustainability, suggesting that softer feminine traits embodied by both women and men relate to eco-friendly outcomes.”

As the research is in progress, Khaksari can’t share all of her results yet. But we can’t wait.

How to be Sustainable in your Everyday Life

October is sustainability month, a great time to pick up habits that will benefit the planet for everyone. Khaksari emphasizes that sustainable habits can be genuinely fun.

Example #1: Thrifting

Thrifting is all upside. It saves money, saves the environment by recycling old clothes, and not to mention, it’s very fashionable.

“You buy brand new clothes, there is nothing to brag about. But when you find something from the 90s or 80s, it’s unique, and not everybody has that.”

She says that when you spend a lot of time looking and find something to show your style, “it gives you the feeling of treasure hunting.”

Example #2: Different modes of transportation

Khaksari encourages walking and biking whenever possible, which benefits the environment but also boosts your health and mood.

Taking public transport like buses is also a great way to be sustainable. But she says that the social stigma of using public transportation needs to change. “There are some memes on the internet that say, I saw a cute guy on the bus, but he’s also on the bus.”

“We can change the idea that being attractive and successful is not just being resourceful, but also how considerate a person is, for example,” Khaksari says.

Example #3: Try a vegan meal

To the skeptical guys out there—Khaksari wants you to know about this article she just read.

“It was about how women see and perceive men that are vegan or who adopt those sustainable behaviours. So women, they find those guys really attractive.”

“Part of it is about self-control. When you see that self-control or discipline in a man, it sends a good signal. It’s like a green flag,” she says.

“He’s not a cheater. You know he’s a kind and empathetic person.”

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Celebrate Sustainability Month with the Asper School of Business

Sustainability Management: Lessons from Research to Practice
Guest researchers and practitioners will lead a sustainability-focused presentation highlighting both local and global perspectives.

Friday October 17, 2025
10:30AM – 12:00PM
Room 106 Drake Centre

UM Campus Commute Survey Lounge
How do you commute to campus? Share feedback, exchange ideas and complete the commuter survey.

Monday October 20, 2025
11AM – 1PM
Student Commons Area, Drake Centre

Asper Green Team Book Exchange
Bring new life to old reads! Discover something new to read, learn about sustainable resources, enjoy snacks and take part in a free book exchange that celebrates reuse and connection. Book donations can be dropped off in the Asper Dean’s Office, 3rd floor Drake Centre, between Oct 1-29.

Thursday October 30, 2025
2PM – 4PM
Student Commons Area, Drake Centre

This sustainability month, learn more about the Asper School of Business commitment to sustainability initiatives in our academic programs, research, community and beyond.

Minelle Silva, Professor of Supply Chain Sustainability and the Director of Sustainability at the Asper School of Business, has an answer to that question.

His article, Switching the Telescope Lens: A Sociomaterial Perspective of Sustainable Agricultural (Proto)Practices Transfer in an Agrifood Supply Chain, who he co-authored with Karina Santos and Susana Pereira of FGV EAESP in Brazil, and Linda Hendry of Lancaster University, was recently published in the FT50-ranked Journal of Operations Management.

Getting the article published in such a highly regarded journal was a homecoming for Silva. Despite understanding how challenging it is to get a qualitative article in, his team worked hard to get it there.

“I think we were a bit bold in trying to bring a different approach to this specific journal, but of course, it was accepted in the end. […] This paper is a bit special because it’s qualitative research with a different theory, in a different field,” says Silva.

The Sociomaterial Perspective

While most articles in this field focus on quantitative research and modeling, Silva’s is focused more on sociology-related theory. The distinct perspective employed by Silva’s team differentiated their article the majority of supply-chain-related pieces.

He and his team use a “sociomaterial” perspective as the lens for this article.

This perspective sees the supply chain not just as a group of things moving from one place to another, but also recognizes it as a group of people who move things from one link of the chain to the next, who inevitably create a web of social and emotional implications along the way.

“It’s bringing real life to those relations. […] we cannot just think about what is happening, but why is this happening? Who is the person carrying this?” says Silva.

Silva and his team analyze how Sustainable Agricultural Practices (SUSAPs) in the Brazilian Agrifood industry spread through the supply chain via people, social relationships and emotional attachments.

He zooms in on the example of how a caring and cruelty-free relationship between a farmer and chicken creates sustainability. “We had cases of farmers saying ‘Ok, I know them by heart, I know everything happening, I raised them.’ So there is some emotional elements, attachments and other things that are not usually there.”

These are big ideas, and it took a big amount of time to gather everything they needed and effectively communicate the ideas. Starting in 2019, they spent three years collecting data, a year-and-a-half writing and making revisions, finally being published in May 2025.

The Boomerang Effect

Their findings use the metaphor of the “boomerang effect” to explain how SUSAPs best work their way through the supply chain. They found that first-tier suppliers (the large organizations who manage farmers) have the most ability to make the supply chain more sustainable.

Theoretically, when first-tier suppliers make an intentional commitment to sustainability (throwing the boomerang) it becomes an infectious idea that works its way down the chain and comes back to them in the form of healthier business.

“Usually the literature says that the buyer [such as a grocery store] is the most important part of the supply chain because they have power and influence,” says Silva. “But we found here that if they don’t have a very good supplier in the first level, the products won’t flow in the way they want. The products won’t become as sustainable or healthy as expected.”

Don’t Look for the Easy Way

Getting published in Journal of Operations Management is an achievement Silva is “really proud” of. Publication here clearly shows that the paper brought something innovative to the sustainable supply chain story.

He plans to keep innovating: “I like the idea of bringing the subjective into an area that is highly objective,” says Silva.

When asked if he has advice for students doing their own research, he says, “Don’t look for the easy way. If it’s too easy, something’s wrong.”

And it’s true—Silva and his colleagues fought an uphill battle. They won.
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The Asper School of Business aims to expand global knowledge and engage in intellectual exploration to advance teaching, learning, and research. Our researchers’ scholarly work is regularly published in internationally renowned publications.

Be part of this flourishing research culture and learn more about research programs in management (MSc and PhD) at the Stu Clark Graduate School here.

This year, Asper researchers achieved a remarkable 80% success rate, well above the national average (53%). The four projects span critical questions of technology, culture, ethics, and community, with a collective total of $238,118 in funding.

Each project is a unique reflection of Asper’s research strength and commitment to exploring how business intersects with real-world challenges, especially during times of social and technological transformation.

Harsha Kamatham (Assistant Professor, Marketing): Kamatham’s project investigates how generative Artificial Intelligence tools are changing the way consumers perceive advertising. As these technologies gain ground in creative industries, Kamatham—with the help of collaborators Ram Janakiraman and Rishika Rishika from North Carolina State University, and graduate student Kaushik Bhattacharjee (UM)—is asking how audiences respond to AI-generated content versus content created by humans.

Harsha Kamatham

“What excites me most about this project is its potential to unpack how people make sense of a rapidly changing creative landscape,” Kamatham shares. “Generative AI is not just another tool—it’s reshaping how we define creativity, who gets to be called a creator, and what that means for industries like advertising.”

His project aims to better understand how businesses can navigate the evolving boundaries between technology and human creativity—an issue that is increasingly relevant for marketing professionals, policymakers, and content creators alike.

Dan Shin (Assistant Professor, Supply Chain Management): Shin’s project focuses on the integration of artificial intelligence in healthcare, raising an important and timely question: How can AI tools support, rather than replace, the clinical judgment of care providers? Shin’s work uses real-world case studies and interviews with healthcare professionals to investigate how these technologies are introduced in practice, and how they affect human autonomy in critical decision-making. As healthcare systems increasingly rely on AI to guide treatments and manage patient outcomes, this research seeks to establish frameworks that preserve the independence and ethical responsibility of medical professionals while still leveraging the benefits of technological innovation.

Dan Shin

Sean Buchanan (Associate Professor, Business Administration): Buchanan is exploring how political polarization is influencing the stand-up comedy industry. As societal divisions deepen, comedians are navigating shifting audience expectations and increasing scrutiny around the content they perform. Through interviews with comics, agents, and producers, the project will examine how creative decisions are shaped by growing sociopolitical tension.

Sean Buchanan

“Rising political polarization is one of the central challenges facing society today,” Buchanan says. “Understanding both how polarization impacts business and also how business impacts polarization—as an amplifying or attenuating force—is a critical line of inquiry.”

His project considers how businesses in cultural industries respond to polarization, and how this, in turn, shapes the public discourse.

“Stand-up comedy has always been a flashpoint for contentious sociopolitical debates. This project allows us to explore the shifting dynamics of this important industry amidst rising political divisions in society.”

Shiu-Yik Au (Associate Professor, Accounting & Finance): Au’s project brings attention to the influence of social networks on financial decision-making. Specifically, his research focuses on how personal and professional connections between fund managers—measured using tools like the Facebook Social Connectedness Index—can impact the way money is invested during times of market uncertainty. By mapping out these networks and analyzing patterns in investment behaviour, Au’s work uncovers how trust, informal communication, and relationships play a significant role in the financial ecosystem. This research could inform better practices in financial regulation, risk assessment, and market transparency by highlighting the social factors that influence economic outcomes.

Shiu-Yik Au

“Social connections influence our purchases, friends, and family. I hope to show they impact our financial decisions as well,” says Au.

He’s particularly interested in how crisis events may trigger investment shifts based on regional or social ties.

“We’ve seen a tremendous charitable response from Manitobans to help wildfire evacuees,” he adds. “I’m interested to see if this will extend into investment decision-making as well. Perhaps the wildfires in Northern Manitoba will unleash a wave of investment in our North that will revitalize the economy there.”

These four IDG recipients reflect the Asper School of Business’s dedication to advancing research that responds to societal challenges with creativity, rigour, and relevance. From AI to finance, from politics to healthcare, their work highlights how business research can help us understand and shape the world around us.

Visit the Asper School of Business Research page to learn more about research programs, events, and contributions from Manitoba’s business school.

University leaders, including Michael Benarroch (President and Vice Chancellor of the University of Manitoba) and Bruno Silvestre (Dean of the Asper School of Business) gathered with leaders from industry, the business community, international scholars, and students to celebrate the official opening of the facility.

Michael Benarroch and Stu Clark attended the opening ceremony. Photo by David Lipnowski.

Also in attendance was Stu Clark [BComm(Hons)/76, LLD/2011], one of the university’s most generous supporters, whose $5M gift was instrumental in establishing the lab.

Clark spoke at the opening ceremony, highlighting the vision that underlies that high-tech research space.

“This lab represents more than just a physical space—it’s a hub for curiosity, innovation, and collaboration,” he said.

“I’m excited to see this vision come to life at the Asper School of Business, and I am confident the ideas and discoveries that will emerge from this space can help us tackling real-world business challenges and make lasting academic and practical impact.”

Empowering research for established and emerging scholars

This research laboratory is open to Asper faculty and graduate research students, offering the resources they need to pursue innovative and collaborative research related to management and human behaviour.

The facility hosts two computer labs to support online data collection, one flex space for simulating retail, office, and other physical spaces, four connected breakout rooms for focus groups, interviews, and team-based simulations, eye tracking and other audio-visual capabilities, and lab management space.

Photo by David Lipnowski.

Advancing insights and improving management practice

Wei Wang (Assistant Professor, The Associates Fellow in Leadership and Ethics) and Namita Bhatnagar (Professor, Asper Behavioural Management Fellow) are co-directors of the Behavioural Management Institute and oversee the operations and vision of the lab.

Wang highlighted the importance of the David Dreman Behavioural Management Lab in advancing relevant and transformative research.

“This lab represents not only a space for innovation and collaboration, but also a shared commitment to generating new insights that can positively impact organizations and communities,” he wrote in a statement.

Co-directors of the Behavioural Management Lab, Namita Bhatnagar and Wei Wang. Photo by David Lipnowski.

Investing in the future of management research

The opening ceremony brought together Asper faculty, staff, students, and alumni, the business community, academics, and supporters who made the establishment of the space possible.

Bruno Silvestre (Dean of the Asper School of Business and CPA Manitoba Chair in Business Leadership) spoke at the event, emphasizing the inspiring support from the lab’s major donors, Stu Clark and David Dreman.

“At the Asper School, we take pride in leading relevant, impactful, and transformative research, and the David Dreman Behavioural Management Lab is a key part of that work. This facility, the best of its kind in Canada, supports interdisciplinary research, fostering collaboration among faculty, researchers, and industry professionals so we can tackle the complex challenges of a shifting business landscape.

“Thank you to our generous donors, for allowing us to turn this dream into reality. David Dreman [BComm/57, LLD/99], alum of the Asper School, provided the funds for the construction of the Lab. And obviously Stu Clark, who has generously supported the School with this transformative gift for the Lab to operate in perpetuity.”

Michael Benarroch, Stu Clark, Bruno Silvestre, and Suzanne Gagnon. Photo by David Lipnowski.

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Research from the Asper School of Business influences business and leadership in Canada and throughout the world. Explore our graduate research programs today, and learn more about pursuing in-depth management studies with access to top-tier mentorship, professional development, and funding opportunities.

Wenxi Pu (Associate Dean, Assistant Professor, The Associates Fellow in Innovation) has spent about eight years working to do just that in a piece now published in the FT50-ranked Strategic Entrepreneurship Journal.

Pu and co-authors’ work, “Shifts in national entrepreneurial culture: The promise of linguistic cultural artifacts and machine learning analysis,” looks at national entrepreneurial culture, asking how cultural attitudes have shifted over time.

“One of the things I’m most proud of is how this study offers new ways to capture culture about entrepreneurship at the national level,” says Pu.

With a dataset of close to 700,000 articles published about entrepreneurship and related topics in over 100 regional and national US newspapers (two decades’ worth, spanning 1996 to 2016), Pu argues that a linguistic analysis of a nation’s media production, supported by machine learning algorithms and AI, can reveal and capture cultural attitudes about entrepreneurship.

In other words, researchers can infer how we think and feel about a topic over time by analyzing huge amounts of written data.

When it comes to entrepreneurship in the United States between the mid nineties and 2010s, the general trend is that positivity bias toward entrepreneurship has increased.

“We found the emotional tone trending up and the analytical thinking trending down in the news articles about entrepreneurship that we analyzed, suggesting that we are culturally more emotional while less analytical about entrepreneurship over time,” Pu explains.

Pu’s study found that positivity bias toward entrepreneurship increased the most in accounts of entrepreneurial aspirations and journeys—the starts of startups and the entrepreneurial path.

The also team found a correlation between this rise in positivity about entrepreneurship with the quality of entrepreneurial ventures taking place at the same time. As positive attitudes about entrepreneurship increase, more ventures got started, but they also had lower growth potential.

“Further analysis suggested that this positivity bias might have encouraged entrepreneurs to create new ventures but might have limited the growth potential for those start-ups, so we need to strike a balance,” Pu says.

For Pu, this study has been generative, showcasing innovative ways to imagine culture and opening up a slew of questions to pursue.

“As a method paper, this study contributes more than just these findings about shifts in national entrepreneurial culture. It also allowed us to test a method using machine learning and AI to make this process of qualitative analysis far more efficient,” he says.

As a researcher and the Associate Dean of Teaching and Learning at the Asper School of Business, Pu encourages his colleagues and students to tap into the ways that AI allows us to do what we haven’t been able to do before and the ways that AI allows more time for truly creative, innovative pursuits.

The future is exciting to him, and he looks forward to seeing how AI transforms businesses and our daily lives.

Reading Pu’s work, it is hard not to imagine new applications for both the AI-supported methodology and for the questions the study raises about entrepreneurship itself. It’s certainly generative; more than that, it is creative.

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The Asper School of Business aims to expand global knowledge and engage in intellectual exploration to advance teaching, learning, and research. Our researchers’ scholarly work is regularly published in internationally renowned publications.

Be part of this flourishing research culture and learn more about research programs in management (MSc and PhD) at the Stu Clark Graduate School here.

Pedada (Assistant Professor of Marketing and The Associates Fellow in Marketing and Inclusive Business), recently published a study in the FT50-ranked Journal of the Academy of Marketing Science.

The paper, “Rural women microentrepreneurs, consumer acquisition, and value delivery,” examines how recruiting women entrepreneurs living in rural India can aid in consumer acquisition and value delivery, finding that rural areas with more women than men microentrepreneurs experienced a 40.8% increase in consumer acquisition and delivered 64.1% greater value to consumers.

Undertaken with co-authors Aindrila Chatterjee and Amit J. Chauradia, Pedada describes the study as a highlight of his career so far, emphasizing how much the subject resonates with his own background.

“I personally came from one of these rural villages, and I witnessed many of the challenges that rural women face. I immediately jumped at the opportunity to work on this project because it is very close to my heart,” he explains.

Pedada and one of the entrepreneurs working with DEF.

Using data from the Digital Empowerment Foundation (DEF), a large NGO based in India that strives to empower rural villages with digital technologies, Pedada examined the work of rural women microentrepreneurs. With the support of DEF, these small business owners connect rural consumers to information about welfare programming offered by the government, bringing more consumers out of digital darkness and helping them access crucial resources.

Pedada studied the effects of recruiting more rural women microentrepreneurs for DEF and speaks with pride about the key findings.

“First, we found that the rural locations with more women microentrepreneurs delivered more value and consumer acquisition. The second finding is that these women can also deliver better value to women consumers specifically. The third finding, which we are very proud of, is that not only are these women creating more value in their own work, but it seems that their passion and commitment is contagious,” he notes.

To this point, the research shows that men microentrepreneurs working in these inclusive settings with more women microentrepreneurs delivered greater value to their consumers than those working in predominantly male work environments.

This research is a source of personal and professional pride for Pedada, as he explains that it combines his core research interests—emerging markets, digital environments, and the intersections of marketing and finance. He also hopes it can broaden perspectives and inspire more work that examines inclusive practices that might be taking place on demographic or geographic fringes.

“Given the increasing importance and interest in the UN Sustainable Development Goals—accessibility, gender equity—I think this kind of work is going to be more and more relevant. The most important thing is that we leverage our research toolkit and training rigorously in pursuit of underexamined areas,” he says.

Pedada’s work in this and, he explains, future research wants not just to rethink a concept like entrepreneurship, but instead strives to think bigger about what entrepreneurship is—who can become an entrepreneur and how that identity can be a source of personal and community empowerment and a compelling value proposition for businesses.

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Asper School of Business aims to expand global knowledge and engage in intellectual exploration to advance teaching, learning and research with an intent to advance and explore equity, diversity, and inclusion. Learn more about the Master of Science (MSc) and PhD in Management programs at the Asper School of Business.

By signing into a UM Libraries account, interested readers can access Pedada’s article here.

Since 2019, Asper School of Business researchers have secured over $2.1 million in funding from the Tri-Council agencies, which include SSHRC.

Xiumei Li (Assistant Professor, Business Administration) received an Insight Development Grant for her project “Entrepreneurial Success in Crowdfunding: The Art and Science of Sensemaking,” and explains, “these grants are crucial for transforming promising ideas into actionable research projects.”

Li also notes that funding alone is not the only path to success for researchers, emphasizing importance of a strong research culture.

“The research culture at Asper is both supportive and collaborative. I have benefited from formal support, such as funding programs, as well as informal opportunities, like stimulating discussions with my colleagues,” said Li.

She adds, “This SSHRC Insight Development Grant project is a collaborative effort with a colleague from my department [Jie Yang], reflecting the strong culture of teamwork at Asper.”

In addition to Li’s award, Namita Bhatnagar (Professor, Marketing), Muhammad Kabir (Assistant Professor, Accounting & Finance), and Jie Yang (Assistant Professor, Business Administration) secured Insight Development Grants, logging a 36% application success rate overall for the Asper School of Business and bringing in over $230,000 in funding from this program this year.

The Insight Development Grant Program supports research in its initial stages, enabling the development of new research questions, experimentation with new methods, and theoretical approaches or ideas. Funding is provided for short-term research development projects of up to two years.

Kabir’s work examines the Livent Case—a case that went before the Supreme Court of Canada after entertainment company Livent collapsed and took legal action against its auditor. His project assesses the impact of this case on Canadian firms and auditor liability.

He expresses why securing early-stage funding is an important achievement for researchers and how doing so empowers them to get innovative projects off the ground.

“Getting an external grant offers early-stage researchers a level of validation of their research, as they work to navigate the peer review and publication process in the first few years of their career,” he explains. “A short-term grant is also an excellent opportunity to learn how to manage a research team on your own. This learning often leads to successful future grants.”

Read more about Kabir’s “Auditor Liability, Firm-level Audit Quality, and Investment: The Effect of the Livent Case on Canadian Firms,” as well as Bhatnagar’s “Sensitive Women and Rational Men: Bridging the Gender Divide in Consumer and Employee Green Behaviours,” Li’s “Entrepreneurial Success in Crowdfunding: The Art and Science of Sensemaking,” and Yang’s “My Turf, My Rules: Investigating the Roles of Customers in Product Categorization” here.

In addition to Insight Development Grant success, the Asper School of Business has logged a 50% success rate for SSHRC Insight Grant applications in 2024.

Jieying Chen (Associate Professor, Business Administration) and Changqiu Yu (Assistant Professor, Accounting & Finance), each received Insight Grants, totaling over $170,000.

The SSHRC Insight Grant Program supports research excellence from emerging and established scholars in the social sciences and humanities and provides funding for research initiatives of two to five years.

Yu, whose work aims to offer insights into the role of environmental information in financial decision-making, describes how this funding allows her work to move forward.

“In order to advance understanding of how environmental factors are integrated into firm valuations, I need access to a large amount of data,” says Yu. “This funding promotes knowledge mobilization by allowing me to purchase datasets, hire research support, and participate in knowledge exchanges at Canadian and international conferences.”

Read more about Yu’s, “Carbon Emissions, Environmental Transition Risks, and Firm Valuations: Evidence from Financial Analysts,” and Chen’s, “Immigrants’ Proactive Socialization Tactics, Adaptation, and Career Success,” here.

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The Asper School of Business aims to expand global knowledge and engage in intellectual exploration to advance teaching, learning, and research. Asper researchers regularly publish in internationally renowned scholarly publications, partner with government and NGOs to advance positive societal impact, and convene with the Manitoba business community to build bridges between theory and practice.

Visit the Asper School of Business Research page to learn more about research programs, events, and contributions from Manitoba’s business school.

The Associates of the Asper School of Business have generously funded research fellowship awards to recognize and encourage scholarship produced by Asper faculty members. Each successful fellowship recipient earns the distinguished title of Associates Fellow, as well as $10,000 per year, for three years, to support their continued excellence in research, teaching, and engagement.

This year, four new Associates Fellows were named, and two outstanding educators were honoured with Associates Teaching Awards:

Shiu-Yik Au is The Associates Fellow in Finance; Narendra Malalgoda is The Associates Fellow in Supply Chain Management; Kiran Pedada is The Associates Fellow in Marketing and Inclusive Business; and Wei Wang is The Associates Fellow in Leadership and Ethics.

In addition to awarding multi-year research fellowships, The Associates also generously recognize excellence in the classroom with the Associates Teaching Awards, valued at $5,000 each.

Sean Buchanan and Dan Shin each received 2024 Associates Teaching Awards.

The Associates Fellow in Finance – Shiu-Yik Au

Associate Professor in the Department of Accounting & Finance, Au is broadly interested in corporate finance, EDI and finance, financial ethics, finance and innovation, and social finance.

His research takes seriously the maxim that people are what matter most in business and consequently focuses on the impact of intangibles, such as corporate culture, innovation, and ethics on corporate outcomes, showing that a business is much more than the sum of its debt and equity.

With multiple publications in the last five years—appearing in FT 50 journals including Management Science and Journal of Business Ethics—and multiple local media citations (CBC, CTV Winnipeg), Au is a frequent and reliable contributor in both academic and public spheres.

The Associates Fellow in Supply Chain Management – Narendra Malalgoda

Malalgoda, an Assistant Professor in the Department of Supply Chain Management, centers his research on transportation economics, productivity and efficiency analysis, agri-food supply chains, and rural transportation.

He has worked on research projects on public transit efficiency, productivity, and factors influencing transit ridership. Currently, he is focused on agriculture-related projects to improve the efficiency and sustainability of Canadian supply chains. One project optimizes grain movement from farm to elevator to reduce farmers’ costs, while another explores sustainable farm waste management to meet eco-friendly standards. Both projects, funded by Manitoba Agriculture under the Sustainable Canadian Agricultural Partnership (SCAP), highlight his commitment to sustainable solutions in agri-food supply chains.

Malalgoda has published and shared his work widely in peer-reviewed journals and conferences, including the Journal of Public Transportation, the International Journal of Public Administration, and Transportation Research Part A: Policy and Practice.

The Associates Fellow in Marketing and Inclusive Business – Kiran Pedada

As an Assistant Professor of Marketing, Pedada’s research is centered on marketing strategy, with a focus on the financial and social impacts of marketing, marketing strategies for digital environments, and emerging markets.

His research has been featured in public media like Forbes, Fortune, and CNN, local media outlets including the Winnipeg Free Press and CBC, as well as a range of academic publications including the Journal of the Academy of Marketing Science (FT 50) and the International Journal of Research in Marketing.

Pedada’s recent work examines the impact of rural women microentrepreneurs on consumer value in India, expanding the discussion to suggest the empowering women through entrepreneurial activities can play a crucial role in driving positive social change.

The Associates Fellow in Leadership and Ethics – Wei Wang

As an Assistant Professor of Business Administration and the Co-Director of the David Dreman Behavioral Lab, Wang’s research and teaching interests include organizational behaviour, business ethics, and leadership.

His research program takes a multi-method approach to study the dynamics of leadership and ethics at work. As the recipient of the 2022 Anne Tsui Dare to Care Research Award, Wang was recognized for the ways in which his work seeks to make a difference int eh lives of employees.

With publications in the Journal of Applied Psychology and the Journal of Management, Wang’s work crosses management and psychological disciplines to understand how leadership and ethics intersect.

The Associates Achievement Award in Teaching – Sean Buchanan

Associate Professor and The Associates Fellow of Business Administration, Sean Buchanan has received an Associates Achievement Award in Teaching in recognition of his outstanding engagement, dynamic instruction, and accessible teaching style in the classroom.

Student testimonials highlight Buchanan’s humour and care, as well as his ability to make complex concepts digestible and create a learning environment conducive to understanding of and enthusiasm for course material. He also received the Commerce Students’ Association Golden Shovel Award this year; for this annual award, BComm students vote to select the professor who has made the most significant impact on them in their final year at the Asper School of Business.

In addition to in-class teaching responsibilities, Buchanan serves as a course coordinator for a core BComm course—a role that often involves training and mentoring new instructors—and he is a committee member for three graduate research students. 

The Associates Achievement Award in Teaching – Dan Shin

Assistant Professor in the Department of Supply Chain Management, Shin has been selected as a recipient of an Associates Achievement Award in Teaching in recognition of his promising contributions to student success and learning since first joining the Asper School in Fall 2023.

In the classroom, Shin combines traditional lectures with case-based teaching to encourage collaborative learning experiences and help students develop real-world presentation and communication skills.

Student testimonials reflect Shin’s willingness to adapt and offer multiple modes of participation for diverse groups of students, with many emphasizing that his choices in the classroom facilitated their learning and demonstrated his investment in their success.

In addition to in-class work, Shin also coached two teams for the 2023-24 Association for Supply Chain Management student case competition, meeting with students regularly and assisting in their preparation for the final presentations. He also worked to coordinate and update a core supply chain course curriculum.

The Emerging Topics Speaker Series: Excellence and relevance in research

Created to support enhanced connections to the business community, contributions to the practice of management and meaningful collaboration between Asper faculty and the business community, The Associates Fellowship Awards have collectively disbursed over $100,000 to the Asper School of Business in pursuit of cutting-edge research projects since the program launched in 2022. Since the program’s inception, nine Associates Fellows have been named.

When named an Associates Fellow, recipients also become featured speakers in the Emerging Topics Speaker Series, an event that invites members of the academic and business community to learn and discuss the Fellows’ research.

This January, The Associates Fellow in Sustainability Rajesh Manchanda will be featured in the next installment of the Emerging Topics Speaker Series. Stay tuned to the Asper Research Events page to learn more.