Ivana Naumovska

I study corporate practices that are at the edge, or beyond the edge of legality. These practices are seen as potentially profitable for firms; however, they impose high economic and social costs beyond the focal firm. My research seeks to gain a better understanding of the antecedents and consequences of such practices that are either illegal or counter-normative; specifically, (a) corporate misconduct, and (b) controversial practices, focusing on capital markets. 

A distinctive feature of my research is that I study phenomena that are relevant to business practice but relatively under-examined in academic research. Specifically, I have studied reverse mergers (RMs) and Special Purpose Acquisition Companies (SPACs), which provide a controversial route to “going public” for a private company by merging it with a publicly listed shell company.

My research has been published in leading academic journals such as the Academy of Management Journal, Academy of Management Annals, Administrative Science Quarterly, Organization Science, Review of Finance, and Strategic Management Journal. The findings of my research and expert opinions are frequently featured in leading business media such as Bloomberg, CBS News, Financial Times, Reuters, TechCrunch, and The Wall Street Journal. I serve as an Associate Editor at the Strategic Management Journal. 

At INSEAD, I teach in Degree and Executive Programs. My teaching focuses on entrepreneurship through acquisition, search funds, SPACs, corporate governance, and financial decision-making. I have received numerous recognitions and awards for my teaching, including the Best Teaching Award for an MBA Elective.