Prior to joining the Goizueta Business School faculty, Professor Thomas held positions at the University of Illinois, the Graduate School of Business at Columbia University, and the Stern School of Business at NYU. His research focuses on how technological and social forces create and sustain the competitive advantage of firms. He has published three books, with the most recent one examining the failure of Japanese industrial policy for pharmaceuticals. His articles have appeared in the Rand Journal of Economics, the Journal of Law and Economics, the Strategic Journal of Management, Management Science, and the Quarterly Journal of Economics.
October 28, 2016BloombergIn the 2000s, a series of academic papers showed that corporate America had become a much less comfortable place for incumbents. Lots of people in corporate America already knew this, but it was helpful to see peer-reviewed evidence: L.G. Thomas and Richard D’Aveni found big increases in profit volatility among manufacturing companies from 1950 to 2002. Diego Comin and Thomas Philippon found a similar increase in the volatility of sales growth and other metrics. Many other studies delivered comparable results.