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Michael Hay

Emeritus Professor of Management Practice in Strategy and Entrepreneurship


BA and DPhil (York), Sloan Fellow (London Business School)

Professor Michael Hay was previously Deputy Dean and Secretary of London Business School for five years. He joined the faculty in 1987 after spending 10 years in academic publishing, where he held senior management positions with Blackwell and others.


He was Acting Dean of CIDA City Campus in Johannesburg in 2007, has worked as a consultant for the United Nations and was a Davos Forum Fellow of the World Economic Forum.


Professor Hay co-founded the Global Entrepreneurship Monitor in 1999. This now examines the nature and impact of entrepreneurial activity in more than 65 countries. Among his recent work is the Business Bridge Initiative – developing a model to deliver high quality business education at low cost on a mass scale.


His co-authored books include The Strategy Handbook, Investing for the Future and Social Policies in the Transition to a Market Economy.

2012

Microfinance for wealthy countries

Buckland L; Hay M

Stanford Social Innovation Review 2012:Spring p 66-71

2008

Business Schools: a new sense of purpose

Hay M G

Journal of Management Development 2008 Vol 27:4 p 371-378

The value-creation challenge

Hay M G

Business Week 2008

2004

Global entrepreneurship monitor: 2004 executive report

Acs J Z; Arenius P; Hay M; et al.

Global Entrepreneurship Monitor

2003

Business angel contracts: the influence of context

Kelly P; Hay M G

Venture Capital: An international journal of entrepreneurial finance, 2003

2002

Global Entrepreneurship Monitor: 2002 executive report

Reynolds P D; Hay M G; et al.

Kauffman Center for Entrepreneurial Leadership, 2002

Global Entrepreneurship Monitor: 2002 summary report

Reynolds P D; Hay M G et al.

Babson College/London Business School, 2002

Study of informal investing in 29 nations composing the Global Entrepreneurship Monitor (GEM)

Bygrave W D; Hay M G; et al.

in Frontiers of Entrepreneurial Research (Proceedings of the Babson College Entrepreneurship Research Conference), 2002

2001

Global Entrepreneurship Monitor (GEM) model for economic growth: a study of venture capital in 19 nations

Bygrave W D; Hay M G; et al.

in Frontiers of Entrepreneushipl Research (Proceedings of the Babson College Entrepreneurship Research Conference), 2001

Global Entrepreneurship Monitor: 2001 executive report

Reynolds P D; Hay M G; et al.

Kauffman Center for Entrepreneurial Leadership, 2001

Global Entrepreneurship Monitor: 2001 research report

Reynolds P D; Hay M G et al.

Kauffman Center for Entrepreneurial Leadership, 2001

Helping hand or watchful eye?: an agency theory perspective on private investor involvement in entrepreneurial ventures

Kelly P; Hay M G

in Frontiers of Entrepreneurship Research (Proceedings of the Babson College Entrepreneurship Research Conference), 2001

Role of contractual governance flexibility in realising the outcomes of key customer relationships

Yli-Renko H K; Sapienza H; Hay M G

Journal of Business Venturing 2001 Vol 16:6 p 529-555

2000

Deal-makers: A reputation that attracts quality

Hay M G; Kelly P

Venture Capital 2000 Jul Vol 2:4 p 183-202

Global Entrepreneurship Monitor: 2000 executive report

Reynolds P D; Hay M G et al.

Apax Partners and Co Ltd/London Business School, 2000

Global Entrepreneurship Monitor: 2000 UK executive report

Hay M G et al.

Apax Partners and Co Ltd/London Business School, 2000

1999

Deal makers: a reputation that attracts quality

Kelly P; Hay M G

in Frontiers of Entrepreneurship Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1999

Global Entrepreneurship Monitor: 1999 executive report

Reynolds P D; Hay M G; Camp M

Kauffman Center for Entrepreneurial Leadership, 1999

Global Entrepreneurship Monitor: 1999 UK executive report

Levie J; Hay M G; Reynolds P D

Apax Partners and Co Ltd/London Business School, 1999

Management buyout: perception of opportunity

Birley S; Hay M G; Muzyka D F

Journal of Management Studies 1999 Jan Vol 36:1 p 109-122

Social capital, relational learning and knowledge distinctiveness in technology-based new firms

Yli-Renko H K; Hay M G; et al.

in Frontiers of Entrepreneurship Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1999

Venture capital handbook

Bygrave W D; Hay M G; Peeters J B; eds.

Financial Times / Prentice Hall, 1999

1998

1998 pulse survey: management trade-offs and firm growth

Levie J; Hay M G; Sapienza H

London Business School/Arthur Anderson, 1998

Managing goal trade-offs: implications for the entrepreneur

Sapienza H; Hay M G et al.

in Frontiers of Entrepreneurial Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1998

Resources, strategy and performance of growth-oriented firms

Almeida J; Sapienza H; Hay M G

in Academy of Management Best Paper Proceedings, 1998

1997

Good strategy: the view from below

Hay M G; Williamson P T

Long Range Planning 1997 Dec Vol 30:5 p 651-664

Life beyond the 'kitchen' culture

Hay M G; Levie J

in Birley S and Muzyka D eds., Mastering enterprise, Financial Times/Pitman, 1997

1996

1996 pulse survey: survival of the fittest

Hay M G; Abbott S

London Business School/Arthur Andersen/Binder Hamlyn, 1996

Entrepreneurial attitudes to venture capital investments realisation: evidence from the UK and France

Bleackley M; Hay M G; et al.

Entrepreneurship and Regional Development 1996 Vol 8 p 37-55

Serial investors and early stage finance

Kelly P; Hay M G

Journal of Entrepreneurial and Small Business Finance 1996 Vol 5:2 p 159-174

1995

Frontiers of entrepreneurship research

Bygrave W D; Hay M G; eds.

Babson College, 1995

1994

Confronting the challenges of corporate entrepreneurship: guidelines for venture managers

Ginsberg A; Hay M G

European Management Journal 1994 Dec Vol 12:4 p 382-389

European management buy-out funds: opportunity selection criteria

Hay M G; Muzyka D F

in Frontiers of Entrepreneurship Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1994

Large-scale empirical comparison of market entry by young high-growth firms in Denmark, Ireland and Scotland

Hay M G; Levie J D

in Hills G E et al. eds., Research at the marketing entrepreneurship interface, University of Illinois at Chicago, 1994

Quest for growth: a survey of UK private companies

Hay M G; Spencer K

London Business School/Binder Hamlyn, 1994

Small firm growth: intentions, implementation and impediments

Hay M G; Kamshad K M

Business Strategy Review 1994 Autumn Vol 5:3 p 49-68

1993

Confronting the challenge of corporate venturing

Ginsberg A; Hay M G

Mens en Onderneming 1993 Vol 6 p 421-432

Entrepreneurs' perceptions about realizing enterprise value: a pan-European perspective

Bygrave W D; Hay M G; et al.

in Frontiers of Entrepreneurial Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1993

Management buy-outs and the economic cycle: the pattern and determinants of activity

Bleackley M; Hay M G

in Realizing investment value, Financial Times/Pitman, 1993

Realizing investment value

Bygrave W D; Hay M G; Peeters J R

Financial Times/Pitman, 1993

Social policy in transition: Central and Eastern Europe

Hay M G; Szalai J

in Welfare in a civil society, European Centre for Social Welfare Policy and Research, 1993

Successful new ventures: lessons for entrepreneurs and investors

Hay M G; Verdin P; Williamson P J

Long Range Planning 1993 Sep Vol 26:5 p 31-42

Time and strategic action: a cross-cultural view

Hay M G; Usunier J-C

Time and Society 1993 Sept Vol 2:3 p 313-333

1992

Barriers to small firm growth

Hay M G

in Frontiers of Entrepreneurship Research (Proceedings of the Babson College Entrepreneurship Research Conference), 1992

Giving advice to government: the case of Russia

Hay M G; Peacock A

Business Strategy Review 1992 Summer Vol 3:2 p 59-77

Mangement buyouts and the economic cycle

Bleackley M; Hay M G

London Business School/Murray Johnstone, 1992

Social policies in the transition to a market economy

Hay M G; Peacock A

David Hume Institute, 1992

1991

Strategic staircases: building the capabilities required for success

Hay M G; Williamson P J

Long Range Planning 1991 Aug Vol 24:4 p 36-43

Strategy handbook

Hay M G; Williamson P J

Basil Blackwell, 1991

Executive MBA


  • Developing Entrepreneurial Opportunities, C032 S SUM15


MBA


  • Core course, London Business Experience, C167 M SUM15

  • Core course, Global Business Experience - South Africa, C168 B AUT14

Research Awards


  • Academy of Management Entrepreneurship Division Innovation in Teaching Award, sponsored by McGraw Hill. The award was given in recognition for his Discovering Entrepreneurial Opportunities course on the MBA programme at London Business School.

Research Interests

  • International comparative entrepreneurship being examined through the Global Entrepreneurship Monitor (involving approximately 80 countries)
  • Social entrepreneurship