Marco BONELLI

Education
 

Alliant Intl University- School of Management- San Diego, CA   PhD – Strategic Management/Finance                    2012 - 2017                                            
Proposed and defended Dissertation: "Leadership within Modern Strategic Management:  Measuring Corporate Equity Value, using Igor Ansoff's Strategic Posture Analysis”.

USIU - San Diego, CA - MBA Concentrations in: Finance & Strategic Management                                                 1985 - 1986                                               

I attended 3 classes with Prof. Ansoff which were key in entering and successfully growing in a highly competitive Wall Street career.

UCLA – Anderson School of Management- Los Angeles   MBA courses in Finance                                                                   1985                                                                                                       
University of Venice, Venice - Venezia, Italy     Laurea Degree – Business Administration                                          1979-1983                                  Concentrations of Faculty Study Plan were in Banking & Law

Thesis: “Financial Leasing Activities as a Security Investment”

Liceo Classico G. Carducci, Bolzano-Bozen, Italy       Maturita’ Classica –High School                                                 1974-1979                                                                                                                                                                                                                                                                                                                                                                                                                                         

COURSES THOUGHT
 

·        Globalization and Change (Module Leader)

·        Financial Accounting and Decision-Making (MBA)

·        Principles of Management (2) Online 1

·        Corporate Finance (MBA) Online

·        Security Analysis and Portfolio Management  (Module Leader MBA & BBA)

·        Accounting for Managers (Grad)

·        Global Business Economics (Module Leader) Hybrid

·        Principles of Financial Accounting (Module Leader) Hybrid

·        Introduction to Cryptocurrencies (Module Leader) Online

·        Principles of Investment (2) Online 1

·        Organizations

·        Principles of Strategic Management

·        Microeconomics

·        Macroeconomics

·        Business Economics (Grad)

·        International Finance (Grad)

·        Cross Management

·        World’s Economies

·        Reporting in Financial Accounting

·        Investment

·        Valuation

·        Advance Research Methodologies

·        Cost Accounting

·        Banking and Finance (2) (Module Leader (1)

·        Investment Portfolio Theory & Risk Management (Module Leader)

MIT World Peace University – School of Business and Leadership, Pune, Maharashtra, India

Professor (Full) taught 2 courses in Financial Management (BBA & MBA),       Globalization and Change (BBA ) & Financial Accounting and Decision-Making (MBA)                                                                                                   January 2023 to April 2024   Currently Emeritus Professor responsible for 100 online hours a year                                                     

Universita’ degli Studi Ca’ Foscari  –  – Venice, Italy                                                                                                                             Contract Professor-Taught Introduction of Corporate Finance (UG)                                                           August 2023 to Current

Alliance University – Alliance School of Business – Bangalore, Karnataka, India

Full Professor in Finance, Investment, and Strategic Management taught Security Analysis & Portfolio Management, (MBA &BBA), Financial Statement Analysis (BBA), and Cost Accounting (BCom)                                                                       January 2022 to December 2022                                                                                           

Webster University – Tashkent, Uzbekistan – Adjunct Faculty

Instructor in Principles of Management core course for freshmen online                                  January 2022 to March 2022

American University Central Asia (AUCA), Bishkek, Kyrgyzstan – Adjunct Faculty

Instructor in Corporate Finance MBA Course online                                                                  September 2021 to January 2022

Westminster International University Tashkent, Uzbekistan (WIUT) - Senior Lecturer (S3)                                     

Undergraduate Program: Cryptocurrencies, Principles of Financial Accounting, Global Economics, Security Analysis.                                                                                                                                                         

Graduate Program: Accounting for Managers                                                                                    August 2020 to January 2022

Fort Hays State University (FHSU), Kansas, US – Associate Professor employed at Sias University, Henan, PR China                                                              

Strategic Management, Management Principles, Principles of Investment – Entirely designed, developed, and

taught face-to-face and online courses for about 900 (a semester) Chinese Sophomore Students during the

COVID-19 pandemic.                                                                                                                                            August 2019 to August 2021                                                       

SP Jain School of Global Management, Dubai, Mumbai, Sidney, Singapore– Visiting Professor

International Finance (2 MBA batches) – Economics (BBA) – Business Economics (MBA)-                                          

Faculty's highest score in 3 batches (out of 4) of Students’ Feedback Report                        August 2018 to January 2019

Hefei University of Technology, Hefei, Anhui, PR China -   Clark University, US Visiting Professor                        

Entirely designed and conducted 2 semesters of undergraduate modules for 2nd-year undergraduate students in World’s Economies and Cross Management.                                                                                                                  March 2020 to July 2018                                                                                                                 

Modern College of Business & Science–Muscat, Sultanate of Oman– Franklin University Distinguished Visiting Scholar

Investment – Reporting in              Financial Accounting -Certificate of Excellence Award            January to March 2018                                                                                                                                                                                                               

JiangXi University of Traditional Chinese Medicine – Nanchang, JangXi, PR China – Adjunct Faculty                           

in cooperation with the University of Bolton, UK

Thought senior students: Advanced Research Methods.”                                                           December 2017 to January 2018                                      

Anhui Business College- Wuhu, Anhui   – Short-Term Adjunct Faculty                                                                           

Thought junior students’ course in Cost Accounting                                                                                           December 2017                                                                         

Bangor University – Changsha, Hunan, PR China   -   Senior Lecturer                                                                 

Thought Banking and Finance (Juniors), Portfolio Theory and Risk Management                                 February to September 2017

Zhejiang University of Finance and Economics, Hangzhou, PR China -   Adjunct Faculty                               

Entirely designed and conducted 3 weeks of undergraduate modules to 3rd-year undergraduate students in Banking and Finance.                                                                                                                                                                          November to December 2016                                                                                                                                                                                                                                                     

Professional Experience
 

Chief Investment Officer at Strategic Posture Consulting Group - San Diego, CA                                                         2015-2017 

Member of a strategic management think tank and thought leader in a turbulent business environment. We apply knowledge, experience, expertise, imagination and will solve strategic problems. We customize methods that are based on digging in depth until the cause is clear and the desired effect is within grasp. We contributed to planning and implementing for growth and profit in turbulent business environment.

Senior Managing Director & Head of Research at IFS Securities | Atlanta, GA                                                                 2012-2015                               

Formed and led a high-powered team of 10 analysts to cover 120 companies within a 4-month period.                                                Revamped network of mom-n-pop retail financial advisors into a full-service firm. Developed inside market knowledge and formed mutually beneficial relationships with a special emphasis on firms in the healthcare, energy, and technology industries.

w  Revolutionized company culture to incorporate high-level research, link between various departments to improve service offerings, and trigger other departments to upgrade internal processes, improving efficiency and boosting revenue.

Director – International Research Distribution at CL King | New York, NY.                                                                      2010-2012                                          

Brought on board to revitalize business by launching an international distributing network; formed mutually beneficial relationships with Wall Street Economists, Strategists, and Equity Analysts. Hired and trained junior salesmen. Transformed operations for a niche firm to become a leading international player.

w  Managed a $10M portfolio through value-oriented approach, maintaining competitive positioning through regular research and analysis of general market reports on Mid and Small Cap Value Stocks.

Managing Director at Northeast Securities | New York, NY.                                                                                                    2009-2010                                                            Turned entire business around, managed day to day financial advisory process, launched equity research platform, and supervised team, concurrently managing existing market strategy. Met challenge by conducting extensive financial analysis, portfolio management, and stock valuations, and by forming a high-powered team within the firm. Delivered self-generated services to domestic and international clients.

w  Streamlined delivery process by jointly developed “M-Squared” proprietary equity portfolio management model based of Markowitz based on Markowitz Portfolio Theory and proprietary “momentum” indicators.

Principal & Managing Director at Raymond James International (Fortune and S&P 500 Company) London                                                                   1997-2008                                                                                

Independently and proactively managed independent branches, supervising all aspects of P&L management and market research and leading a team of 8 international associates located in the US, Italy, Switzerland, and the UK. Entrusted to sign high-profile institutional clients and provide personalized, superior customer service that enhanced service levels and set a new bar for facilitation in the financial industry.

Recognized for consistently exceeding expectations with “Best international Producer Award” (6 times) and “Best Overall Producer Award” (3 times)

Director at Cowen & Co | New York, NY.                                                                                                                                           1991-1997                                                                                                                     Appointed as a Junior Partner; quickly advanced through the ranks by achieving significant growth in revenue, utilizing operational management skills to increase portfolio, and employing exceptional interpersonal skills to gain clients for sophisticated products in technology and healthcare sectors. Made a mark on operations by ensuring unmatchable returns and maintaining exceptional service standards.

Took initiative to promote investment in then unknown and mostly volatile high technology ventures by conducting detailed sessions for clients, organizing trips to tech companies, and establishing firm as an international leader for technology investments in firms such as Microsoft, Cisco, Novell, 3com, Amgen etc.

Financial Advisor at Oppenheimer & Co. New York, NY.                                                   1987-1991

Member of the most profitable firm’s profit center. Engaged in sales/distribution in primary and secondary markets, securities analysis, and trading activities.

Certifications
 

w  FINRA Series 7  and  63 General Representative

FINRA Series 24 Principal

FINRA Series 86 and 87 Registered Securities Analyst

TEFL certificate with Business English Specialization

Bio
 

Coach: lead a six students WIUT team to 14th place Bloomberg Global Trading Challenge out of 600 participants teams, Uzbekistan was 4th in the nation ranking (after US, India, China)

Polyglot: Speaks Spanish, Italian, and English fluently. Proficient in German, Portuguese, French, Elementary knowledge of Thai, Mandarin and Russian.

Citizenship: Dual American and Italian Citizen

Entrepreneur: Sarto Cycles US, founded in 2009 and developed from scratch a multi-million import business of high-end and hand-made, customized bicycles to the US

Athlete: Competed in over 70 Ironman Triathlon Competitions, including Ironman Hawaii World Championship (4 times), Master Martial Artist (Muay Thai), Master Boxing Invitational Tournament, belt winner (Las Vegas, Dec. 13-15,2020)   

Publications
 

Thesis, Books & Chapters

·        Thesis: LEADERSHIP WITHIN STRATEGIC MANAGEMENT: MEASURING CORPORATE EQUITY VALUE USING IGOR ANSOFF'S STRATEGIC POSTURE ANALYSIS -  September 2016 -  DOI: 10.13140/RG.2.2.21654.93763 - Advisors: Hamid Rahman, Ph.D., Chairperson, John Kantor, Ph.D, Rene Naert, Ph.D.

¨      Book: Equity Valuation Using Ansoff’s Strategic Posture Analysis – ISBN: 978-620-2-30687-4.  Scholars’ Press – March 2018

¨      Book Chapter: The Impact of Disruptive and Turbulent Environments on Multinational Corporations (MNCs) and their Branches from an International Point of View – Chapter 6 pp. 119-140 - Academic Research & Reviews in Social, Human and Administrative Sciences - I. Publishing Date: February 25, 2023 - ISBN Number: 978-625-8284-55-3;  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4515976

¨      Book Chapter: The Relationship Between Multi-Nationality and Performance in US Large Capitalization Multinational Companies. ICSSIET 3rd 2022, International Congress, Tetova /Makedonia – Abstract Book ISBN 978-625-8284-19-5; http://www.wikicfp.com/cfp/servlet/event.showcfp?eventid=160603&copyownerid=1

¨      Book Chapter: The Optimal Strategic Performance Positioning (OSPP) Matrix as an Evaluative Tool for Stock Analysts -ICSSIET CONGRESS 4 st International Congress on Social Sciences, Innovation and Educational Technologies PROCEEDINGS BOOK Editor Prof. Dr. Beatriz Lucia SALVADOR BIZOTTO ISBN: 978-625-8284-61-4 Publishing Date: 28.02.2023;  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4515947

¨      Book Chapter: Bloomberg Terminals as a Learning Tool for Business Students. ICSSIET CONGRESS PROCEEDINGS Editor Prof. Dr. Emilia ALAVERDOV ISBN: 978-625-8284-26-3 Publishing Date:   7-12-2022. https://ssrn.com/abstract=4515678 TOP SSRN article for downloads in: Economics Educator: Courses, Cases & Teaching E-Journals & in: Finance Educator: Courses, Cases & Teaching E-Journals

Keynote Speaker, Panelist  & Conferences Presentations

¨      Session Speaker: Crafting Tomorrow: Youth Skills and Innovation.  International Conference B.K. School of Professional and Management Studies, Gujarat University, Ahmedabad, December 1st, 2023

¨      Keynote Speaker: A Currency Revolution in the Making: The Digital Yuan. International Conference on Digital Economy and Computer Application (DECA 2021) September 24-26, 2021, Shanghai, China Ready.mp4

¨      Keynote Speaker: What Blockchain is doing to society is what Internet did 25 years ago, 2nd International Conference on Economic Management and Cultural Industry (ICEMCI 2020) held in Kitakyushu, Japan on October 23-25, 2020   https://app.vidgrid.com/view/BYjqPRqC0nrf/?sr=FHXDm6

¨      Submitted (accepted) Conference Paper: Optimizing Securities Portfolio Selection and Balancing with Artificial Intelligence and Fuzzy Multi-Objective Decision-Making Model – 2023 7th International Conference on Computer Science and Artificial Intelligence (CSAI 2023), December 8-10 Beijing – China

¨      Presenter: Revolutionizing Financial Services: Robo Advisors and AI Enhancements. SYMSFIN 2023 Fintech and Artificial Intelligence, Growth Drivers in the BFSI Sector Symbiosis School of Banking and Finance – Pune – September 22nd, 2023 – Best Paper Award

¨      Presenter: Robo-Advisors in the Financial Services Industry: Recommendations for Full-Scale Optimization, Digital Twin Integration, and Leveraging Natural Language Processing Trends 2023 the 9th International Conference on Virtual Reality. Xianyang, China May 12-14, 2023.

¨      Presenter: The Optimal Strategic Performance Positioning (OSPP) Matrix as an Evaluative Tool for Stock Analysts - 4th International Congress on Social Sciences, Innovation and Educational Technologies 21-22 February 2023 (Paris/France)

¨      Presenter:  Bloomberg Terminals as a Learning Tool for Business Students - The International Congress of Educational Sciences and Linguists (ICEL 2022) 29-30 November 2022,  Amsterdam, The Netherland

¨      Presenter: Virtual Reality in Financial Trading and Investing: A Review of Literature and Applications presented online at the 2022 ICVR conference in Nanjing PRC, July 3, 2022.

¨      Panelist: The Relationship between International Entrepreneurship and Innovation and Virtual Reality” 2022 8th International Conference on Virtual Reality “Special Session 1: Nanjing, PRC

¨      Presenter: Methodologies for predicting  organizations’ bankruptcy level – Intl. Research Conference on Insolvency and Bankruptcy – Feb 23-25, 2023. Indian Institute of Management (IIM), Bangalore

¨      Panelist, 2022 Bloomberg EduTech Forum on Oct 15th, Hyderabad, India “how the use of cross-cutting technology has been in the classroom today and what can be envisioned to change”.

¨      Presenter: The Relationship Between Multi-Nationality and Performance in US Large Capitalization Multinational Companies. ICSSIET 3rd 2022, International Congress, Tetova

Academic Articles, Conference Proceedings,  Working Papers & Various Publications

¨      Academic Article: Traders’ anticipatory feelings and traders’ profitability: An exploratory study” Journal of Behavioral and Experimental Finance” Volume 6, December 2022, 100743,  https://doi.org/10.1016/j.jbef.2022.100743

¨      Academic Article: Revolutionizing Robo-Advisors: Unveiling Global Financial Markets, AI-Driven Innovations, and Technological Landscapes for Enhanced Investment Decisions. Volume 9, Issue 2, Page No 33-44, 2024. Adv. Sci. Technol. Eng. Syst. J. 9(2), 34-44 (2024) (Scopus Indexed Journal) DOI: 10.25046/aj090205

¨      Academic Article: The Divine Edge: Unveiling the Connection between Spirituality, Interoceptive Skills, and Trader Profitability Journal of Behavioral and Experimental Finance, June 2023.

               https://dx.doi.org/10.2139/ssrn .4495112

¨      Academic Article : Rational Strategic Decision-making during Crises: A Process Approach” Submitted and accepted by International Journal of Management and Decision Making, Inderscience Publishers, 2023, DOI: 10.1504/IJMDM.2023.10050574.

¨      Academic Article: Beyond Financial Ratios: A Novel Approach to Bankruptcy Predictions for Indian Firms (March 30, 2023). Indian Journal of Finance; https://dx.doi.org/10.2139/ssrn.4496001

¨      Academic Article: Macroeconomic Factors and SENSEX Performance in India: Unveiling the Post-Liberalization Era (1980-2020) (January 30, 2023). Indian Journal of Finance, Volume 10, Issue 3-4, July-December 2023 - DOI: 10.17010/ijrcm/2023/v10i3-4/173431

¨      Academic Article: Discounted Cash Flow Analysis in Emerging Markets: The Case of Uzbekistan and Uzmetkombinat.  Submitted and accepted: Journal of Eastern European and Central Asian Research (JEECAR) July 2023, https://ssrn.com/abstract= .

¨      Conference Submission: The 5th International Conference on Financial Technology (ICFT 2024) Singapore, September 23-25, 2024 - Artificial Intelligence (AI) and Virtual Reality Convergence in Financial Services: The Power of Digital Twin Robo-Advisers

¨      Conference Proceedings: Robo-Advisors in the Financial Services Industry: Recommendations for Full-Scale Optimization, Digital Twin Integration, and Leveraging Natural Language Processing Trends. July 2023 Publisher: IEEE Xplore pp. 268-275  Doi: 1o.1109/ICVR57957.2023.10169616

¨      Conference Proceedings: Virtual Reality in Financial Trading and Investing: A Review of Literature and Applications. July 3, 2022. Publisher: IEEE Xplorer  https://doi.org/10.1109/ICVR55215.2022.9848110

¨      Conference Proceedings: Analogies between Internet and Blockchains: Hype Cycles, and Securities Trading Patterns. ICEMCI 2021 https://dx.doi.org/10.2991/aebmr.k.201128.011

¨      Conference Proceedings: Ansoff’s Strategic Posture Analysis of Small Businesses in Henan Province, China, Post Covid-19. Hangzhou in person conference October 2020 E3S Web of Conferences 253 (3): 03085 – January 2021 DOI: https://doi.org/10.1051/e3sconf/202125303085  Scopus ID: 1246419

¨      Conference Proceedings: What kind of asset is bitcoin? An answer from the Stock Market. 2020 2nd International Conference on Economic Management and Model Engineering (ICEMME) Year 2020, Pages 1046-1051

                DOI: 10.1109/ICEMME51517.2020.00211                       

¨      Working Paper: A Review of the Upper Echelon Theory and Subsequent Refinement – Academia.edu 10/11/2014 (top viewed paper); https://dx.doi.org/10.2139/ssrn.4517218

¨      Sector Report: The Internet of Everything – IFS Securities Sector Investment Report – Academia.edu November 2014

¨      Working Paper: The Optimal Strategic Performance Positioning (OSPP) Matrix as an Evaluative Tool for Stock Analysts - Academia.edu 2/06/2014 (top viewed paper)

Seminars and Workshop

¨      Induction Workshop BBA & MBA: India Rising to Superpower in 21st Century.  MIT World Peace University – Pune  July 26th, 2023

¨      Online Seminar: Why Stocks are the Best Investment Asset Class. Adonis EduTech, July 30, 2023

Recent Paper Submissions

Artificial Intelligence (AI) and Virtual Reality Convergence in Financial Services: The Power of Digital Twin Robo-Advisers

Accepted and in the process of being published on:

Springer Nature Computer Science Book Series

Convergence of Robo-Advisors and Artificial Intelligence in FinTech: Insights, Challenges, and Innovations in the Indian Financial Services Market

Submitted to: Organizations and Markets in Emerging Economies – Scopus Q3

Risk Management Post-COVID-19 in the Indian Banking Sector: Evolution of Practices and Their Effectiveness in Mitigating Non-Performing Assets

Submitted to: Bulletin of Monetary Economics and Banking – Scopus Q3

An Empirical Examination of Ansoff's Strategic Success Paradigm

Submitted to: The 85th Annual Meeting of the Academy of Management, Copenhagen 29 July 2025

Interdisciplinary Perspectives on Robo-Advisor Adoption: Behavioral Drivers and Cultural Contexts in Modern China’s Fintech Evolution

Submitted to: Journal of Social Computing (JSC), Tsinghua University Press – Scopus Q2

Anticipatory Feelings and Trading Performance: A Bayesian and Frequentist Neuroscientific and Physiological Analysis Using Galvanic Skin Response

Submitted to (Rejected because of lack of supervision in the experiment): PLOS ONE (Public Library of Science ONE) – Scopus Q1

From Liberalization to Transformation: The Historical Impact of Economic Reforms on India’s Financial and Socio-Economic Landscape

Submitted to (Rejected: not enough historical approach): Economic History of Developing Regions, Taylor & Francis – Scopus Q2

Validating Ansoff’s Strategic Success Paradigm: Strategic Posture and Financial Performance in Turbulent Environments

Submitted to: Journal of Management Scientific Reports (JOMSR), Sage – Scopus Q1

Evolution of Upper Echelon Theory: A Case Study of Sundar Pichai Leadership at Google

Submitted to: Jurnal Pengurusan (UKM Journal of Management), Penerbit Universiti Kebangsaan Malaysia, Scopus Q3

Unlocking Growth: India’s Stock Market Journey Post-Liberalization—Trends, Challenges, and Policy Perspectives

Submitted to: Scientific Annals of Economics and Business, Alexandru Ioan Cuza University of Iasi – Scopus Q3

Redefining Bankruptcy Prediction: A Comprehensive Framework for Financial Distress Analysis in Indian Firms

Submitted to: IIMB Management Review – Scopus Q2

Forthcoming Papers (not submitted yet)

The Evolution of Upper Echelon Theory: A Case Study of Elon Musk at Tesla

Target Journal: Academy of Management Journal, AOM, Scopus Q1, FT 50

The Integration of Artificial Intelligence in Portfolio Management: Techniques,

Applications, and Implications

Target Journal: FinTech Review, MDPI -Scopus Q1

Leveraging Upper Echelon Theory for Management Analysis: A Conceptual Framework

Target Journal: Global Business and Organizational Excellence (Wiley) – Scopus Q2

Enhancing Financial Education Through Bloomberg Labs: A Case-Based Approach for Experiential Learning

Target Journal: Advances in Financial Education (AFE) – Scopus Q2

Scopus Indexed Publications & H Index Impact:

Publications 27 – h index: 5 citations: 263