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Horatio Morgan

Morgan, Horatio


Associate Professor


B.Sc., M.Sc., M.A., Ph.D.




416-979-5000 x 2526

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Horatio M. Morgan

Dr. Horatio Morgan is an Associate Professor in Global Management Studies at the Ted Rogers School of Management.In his ongoing research, Dr. Morgan investigates how individuals and companies learn, invest and innovate in the presence of various risk factors, incentive and information problems, and governance structures. While this work is primarily focused on the case of mergers and acquisitions, it also features other applications including strategic information-technology investments. A major area of his current research is the study of the financing, internationalization and innovative activities of small and medium-sized enterprises in general, and immigrant-owned businesses in particular. His work has been published in leading peer-reviewed journals including the Journal of Management, Journal of World Business and the International Journal of Production Economics.. In addition, his work has been covered by popular media including the Vancouver Sun. Dr. Morgan has advised and collaborated with various government organizations and think tanks including Industry Canada and the Conference Board of Canada. Prior to joining Ted Rogers School of Management, he worked as a Senior Analyst at Grant Thornton LLP in their Toronto-based International Tax Services (Transfer Pricing) practice.


Global Management Studies

Research Interests

Corporate finance and strategy, Immigrant entrepreneurship, Internationalization of small and medium-sized enterprises, Risk analytics, and
Applied econometrics.

Select Research and Professional Contributions

Articles in Peer-Reviewed Journals

Malhotra, S., Morgan, H.M., & Zhu, P. (2016).  Sticky Decisions: Anchoring and Equity Stake in International Acquisitions.  Journal of Management, DOl:10.1177/0149206316664008.
Morgan, H.M., Ngwenyama, O. (2015). Real Options, Learning Cost and Timing Software Upgrades: Towards an Integrative Model for Enterprise Software Upgrade Decision Analysis. International Journal of Production Economics, 168: 211-223.
Sui, S., Morgan, H.M., & Baum, M. (2015). Internationalization of Immigrant-Owned SMEs: The role of language. Journal of World Business. doi:10.1016/j.jwb.2015.04.002
Morgan, H.M. (2013). Foreign Banks and the Export Performance of Emerging Market Firms: Evidence from India. Research in International Business and Finance, 29: 52-60.
Morgan, H.M. (2011). The International Competitiveness of Chinese Manufacturing Firms and the Exit of the Renminbi-Dollar Peg.  China Economic Journal, 4(2-3): 159-168.

Articles in Practice-Oriented Journals

Morgan, H.M. (2011). Credit Rating Agencies and Regulatory Reform: The Case of Moody’s Investors Services. Journal of International Banking Law and Regulation, 26(9): 389-397.

Technical Reports & Other Publications

Sui, S., & Morgan, H.M. (2015). Going where business relationships lead: Challenges and Opportunities for Francophone Businesses. Ottawa: RDÉE Canada, Conference Board of Canada.
Sui, S., & Morgan, H.M. (2014). Selling Beyond the U.S.: Do Recent Immigrants Advance Canada’s Export Agenda? Ottawa: Conference Board of Canada.
GMS 601 International Economics  
GMS 200 Introduction to Global Management  
Honours & Awards
2016 Ted Rogers School of Management Dean's Scholarly, Research and Creative Activity (SRC) Award
Research Funding
SSHRC Institutional Development Grant (C$42000), Principal Investigator, Ryerson University, 2016.
RBC Immigrant, Diversity and Inclusion Project's Grant ($10,000), Principal Investigator, The Diversity Institute, Ryerson University, 2016.
SSHRC Institutional Grant ($7,000), Principal Investigator, Ryerson University, 2016.
TRSM Internal Grant ($7,000), Principal Investigator, Ryerson University, 2015.
RBC Immigrant, Diversity and Inclusion Project's Grant ($3,000), Co-investigator, The Diversity Institute, Ryerson University, 2015.
SSHRC Institutional Grant ($4,200), Principal Investigator, Ryerson University, 2014
Ph.D.   Economics, Simon Fraser University, Canada, 2010.
M.A. Economics, York University, Canada, 2005.
M.Sc. International Business, University of the West Indies, Jamaica, 2001.
B.Sc. Economics & Accounting, University of the West Indies, Jamaica, 1999.
2014 Interview Story, ‘Don Cayo: B.C. lags behind Ontario and Quebec in immigrant-driven exports,” Vancouver Sun, June 24, 2014.
2013 Guest Columnist, “Making Sense of Jamaica’s Growth Challenges,” The Gleaner. Available online: (April 21, 2013).
Professional Affiliations
2015-present Leaders’ Roundtable on Immigration (LRI), Conference Board of Canada
2014-present Academy of International Business (AIB)
2012-present American Economic Association (AEA)
2012-present Canadian Economics Association (CEA)
2011-present Chinese Economists Society (CES)

Other Faculty Members