Philip Bromiley

Philip Bromiley

Dean’s Professor in Strategic Management

SB2 430



PhD, Carnegie Mellon University
BA, Johns Hopkins University

Research Interest

Behavioral research in strategic management

Strategic decision-making

Strategy processes

Corporate risk-taking

Risk assessment in commercial lending

Accounting misrepresentation

R&D policy

Trust in organizations

Corporate capital investment

Philip Bromiley joined the Merage School faculty in fall 2005 after holding the Curtis L. Carlson Chair in Strategic Management and chairing the department of Strategic Management and Organization at the University of Minnesota’s Carlson School of Management. He previously served on the faculty of the Naval Postgraduate School.  He has been National Coordinator for the Consortium of Centers for Organizational Research and President of the Minnesota chapter of the American Association of University Professors.  He currently serves as Faculty Chair for the Merage School and area coordinator for Strategic Management.

A fellow of the Strategic Management Society, Professor Bromiley has published close to 100 journal articles and book chapters as well as three books – Behavioral Strategic Management, Behavioral Foundations of Strategic Management, and Corporate Capital Investment: A Behavioral Approach. He serves as an Associate Editor at Strategic Management Journal and on the editorial boards of Journal of Management Studies and Journal of Management & Strategy. He previously served on the editorial boards of Strategic Organization, Organization Science, Journal of Management, and Academy of Management Journal and as an Associate Editor at Management Science.

His research takes a behavioral approach to a variety of strategic management topics. His articles address subjects that include risk assessment, firm temporal orientations, pricing in commercial lending, corporate risk-taking, R&D policy, trust in organizations, corporate capital investment, accounting misrepresentation, product recalls, board composition, and strategic decision processes. 

Professor Bromiley’s commentaries have appeared in the National Association for Corporate Director’s blog, Minneapolis Star-Tribune and St. Paul Pioneer-Press. His work has been discussed in outlets that include The Wall Street Journal and The New Yorker. He served on the board of Monterey Federal Credit Union and on the finance committee of St. Joseph’s Hospital in the City of Orange.  He has consulted for organizations ranging from start-ups to GE Capital and New Century Financial.

In addition to his PhD from Carnegie-Mellon University, he holds a BA from Johns Hopkins University.


  • Bromiley, P., McShane, M., Nair, A. and Rustambekov, E. (forthcoming) “Enterprise Risk Management: Review, Critique, and Research Directions” Long Range Planning.
  • Bromiley, P., and Harris, J. A. (forthcoming) “ Comparison of Alternative Measures of Organizational Aspirations. Strategic Management Journal.
  • Washburn, M., and Bromiley, P. (forthcoming) “Managers and analysts: An examination of mutual influence,” Academy of Management Journal.
  • Bromiley, P. and Rau, D. (forthcoming) “How Would Behavioral Strategy Scholarship Lead to Prescription,” Journal of Business Economics.
  • Bromiley, P., Rau, D. (2013) “Prospect Theory,” In Sage Encyclopedia of Management Theory Volume 2, E. H. Kessler (Ed.), Sage, 628-632.
  • Bromiley, P., Rau, D. (2013) “Decision Making,” Oxford University Press, Oxford Bibliographies Online.
  • Washburn, M., and Bromiley, P. (2012) “Comparing Aspiration Models: The Role of Selective Attention,” Journal of Management Studies. 49(5) 896-917.
  • Souder, D., and Bromiley, P. (2012) "Explaining Temporal Orientation: Evidence from the Durability of Firms’ Capital Investments," Strategic Management Journal, 33:550-569.
  • Rau, D., Bromiley, P. (2012) “Strategic Decision-Making,” in McGraw-Hill Yearbook of Science & Technology 2012, McGraw-Hill, 261-263.
  • Bromiley, P. and Rau, D. (2012) “Managing an Entrepreneur's Risk-taking Propensity,” in D. Bodde and C.H. St. John (Ed.), Chance and Intent. Rutledge, N.Y., 7-18.
  • Holmes, M., Bromiley, P., Devers, C. E., Holcomb, T. and McGuire, J. J. (2011) “Management Theory Applications of Prospect Theory: Accomplishments, Challenges, and Opportunities," Journal of Management. 37(4) 1069-1107.
  • Bromiley, P. and Washburn, M. (2011) “Cost Reduction vs. Innovative Search in R&D,” Journal of Strategy and Management. 4(3) 196-214.
    • Finalist for best paper in Journal of Strategy and Management in 2011.
  • Bromiley, P. (2010) “Looking at Prospect Theory,” Strategic Management Journal, 31:1357-1370.
  • Washburn M. and Bromiley, P. (2010) “Comparing Aspiration Models: The Role of Selective Attention,” Academy of Management Best Paper Proceedings, 2010.
  • Navarro, P., Bromiley, P., and Sottile, P. (2010) Business Cycle Management and Firm Performance: Tying the Empirical Knot, Journal of Strategy and Management, 3(1) 50-71.
  • Bromiley, P. and Rau, D. (2010) “Strategic Decision-making,” in American Psychological Association’s Handbook of Industrial and Organizational Psychology, edited by S. Zedeck, 161-182.
  • Bromiley, P. (2009) “A Prospect Theory Model of Resource Allocation” Decision Analysis, 6(3), 114-138.
  • Arend, R. J., and Bromiley, P. (2009) “Assessing the Dynamic Capabilities View: Spare Change, Everyone?” Strategic Organization, 7(1) 75-90.
  • Bromiley, P., Navarro, P. and Sottile, P. (2008) “Strategic Business Cycle Management and Organizational Performance: A Call to Action,” Strategic Organization, 6(2) 207-219.
  • Vidotto, G., Piergiorgio A., Vicentini, M. and Bromiley, P. (2008) "Assessment of Organizational Trust: Italian adaptation and factorial validity of the Organizational Trust Inventory,” Social Indicators Research 88(2) 563-575.
  • Bromiley, P., Gerlach, T., Marczak, K., Taylor, M, and Dobrovolny, L., (2008) “Statistical Analysis of the Factors Influencing Consumer Use of E85,” National Renewable Energy Laboratory, NREL/SR-540-42984.
  • Harris, J. and Bromiley, P. (2007) “Incentives to Cheat: The Influence of Executive Compensation and Firm Performance on Financial Misrepresentation,” Organization Science, 18(3) 350-367.
  • Bromiley, P. and Harris, J. (2006) “Trust, Transactions Cost Economics, and Mechanisms,” in Handbook of Trust Research, edited by R. Bachmann and A. Zaheer, Edward Elgar, 124-143.
  • Harris, J. and Bromiley, P. (2005) “Financial Misrepresentation, Executive Compensation, and Firm Performance: An Empirical Study” Academy of Management, Best Paper Proceedings 2005.
  • Harris, J. and Bromiley, P. (2005) “Stock Options and Performance Aspirations: Enticements to Cook the Books?” IRRC Corporate Governance Bulletin, 23(2): 16-17.
  • Bromiley, P. and Johnson, S. (2005) “Mechanisms and Empirical Research,” in Research Methodology in Strategy and Management Volume 2, edited by D. Bergh and D. Ketchen, JAI Press/Elsevier, 15-30.
  • Bromiley, P. (2005) “Risk-taking” in the Blackwell Encyclopedia of Organizational Behavior, Nigel Nickerson editor, Blackwell Publishing.
  • Bromiley, P. (2004) “A Focus on Process: Part of Herbert Simon’s Legacy,” in Models of a Man: Essays in Honor of Herbert A. Simon, edited by Mie Augier and James G. March, MIT Press, Cambridge MA, 183-189.
  • Bromiley, P. and Papenhausen, C. (2003) “Assumptions of Rationality and Equilibrium in Strategy Research: The Limits of Traditional Economic Analysis” Strategic Organization, 1(4) 413-437.
  • Bromiley, P. and James-Wade, S. (2003) “Putting Rational Blinders Behind Us: Behavioral Understandings of Finance and Strategic Management”, Long Range Planning, 36(1) 37-48.
  • McNamara, G., Moon, H. and Bromiley, P. (2002) "Banking on Commitment: Intended and Unintended Consequences of an Organization's Attempt to Attenuate Irrational Commitment," Academy of Management Journal, 45(2), 443-452.
  • Bromiley, P., Papenhausen, C. & Borchert, P. (2002) “Why do Gas Prices Vary, or Towards Understanding the Micro-structure of competition.” Managerial Decision and Economics 23 (4-5), 171-186.
  • Bromiley, P. and Fleming, L. (2002) " The resource based view of strategy: a behaviorist’s critique," in The Economics of Choice, Change, and Organizations: Essays in Memory of Richard M. Cyert, edited by Mie Augier and James G. March, Edward Elgar Publishing Limited, Cheltenham, UK, 319-336.
  • Bromiley, P., Miller, K. D., and Rau, D. (2001), "Risk in Strategic Management Research," in Handbook of Strategic Management, edited by Michael A. Hitt, R. Edward Freeman, and Jeffrey S. Harrison, Blackwell Publishers Inc., Malden MA, 259-288.
  • Brush, T. H., Bromiley, P., and Hendrickx, M. (2000) "Is Growth Good? The Free Cash Flow Hypothesis for Sales Growth and Firm Performance," Strategic Management Journal, 21(4), 455-472.