Maria Regina Lucia Lizares

Associate Professor and DeanUP Scientist 1 (2023-2025)

PhD (Business Administration), 2018, University of the PhilippinesMS Management, 2018, University of the PhilippinesMA International Business and Economic Development (with Distinction), 1995, University of Reading, EnglandMBA (Bilingual Programme), 1991, IESE, University of Navarra, SpainBSBA (Magna Cum Laude), 1988, University of the Philippines
Email: rmlizares@up.edu.phWeb: vsb.upd.edu.ph/faculty/lizaresTelephone: +632 928 4571 to 75Office: room 119, VSB Building, UP Diliman Campus
Curriculum Vitae

Research and Publications (click here to view all)

Lizares, R. M. (2025). Who gets a seat at the table? the role of director characteristics in Philippine board committee membership. Philippine Management Review, 32, 1-22.

Lizares, R. M., & Bautista, C. C. (2025). Market power in an emerging market economy: Evidence from Philippine publicly listed corporations. Malaysian Journal of Economic Studies, 62(1), 105–129.

Federo, R., Galang, R. N., & Lizares, R. M. (2024). The Interplay of Political Ties and Ownership Structure in Emerging Markets: A Signaling View. In Academy of Management Proceedings (Vol. 2024, No. 1, p. 10258). Valhalla, NY 10595: Academy of Management.

Lizares, R. M. (2024). CEO Characteristics Influence on CEO Duality: Evidence from the Philippines. Philippine Management Review, 31(1), 13-34.

Lee, L. D. D. and Lizares, R. M. (2023) Pretty Hurts: The Belo Medical Group. In A. S. Cayanan, C. R. Estrella, & H. S. Valderrama (eds.). Cases in risk management in the Philippines, pp. 101-160. Quezon City: UP Business Research Foundation, Inc. and Development Center for Finance.

Lizares, R. M. (2023). Presence and profiles of women on corporate boards in Philippine publicly listed corporations: A resource dependence theory perspective. Philippine Management Review, 30(1), 39-58.

Lizares, R. M. (2022). Investigating the association of mission statement and performance using the component and stakeholder approaches in an emerging market. Journal of Management & Organization, 1-25.
Lizares, R. M. (2022). Offering Organizational Legitimacy: Foreign Underwriters and Outside Directors in Philippine IPOs. Philippine Management Review, 29, 109-134.
Lizares, R. M. (2022). Ownership concentration and board structure: Alignment and entrenchment effects in an emerging market. Managerial and Decision Economics.
Lizares, R. M. (2021). The Internationalization of ICTSI. In B. P. B. Gutierrez, R. M. Lizares, & R. A. Rodriguez, R. (eds.), Cases and readings in international business, pp. 243–298. Quezon City: U.P. Business Research Foundation, Inc.
Lizares, R. M. (2021). Filipino firms diversifying internationally: Motivations and home country conditions. In B. P. B. Gutierrez, R. M. Lizares, & R. A. Rodriguez, R. (eds.), Cases and readings in international business, pp. 737–792. Quezon City: U.P. Business Research Foundation, Inc.
Lizares, R. M. (2021). Understanding the global multilateral and preferential trading systems: The roles of the World Trade Organizations and regional trade agreements. In B. P. B. Gutierrez, R. M. Lizares, & R. A. Rodriguez, R. (eds.), Cases and readings in international business, pp. 793–844. Quezon City: U.P. Business Research Foundation, Inc.
Lizares, R. M., & Santos, E. J. G. (2021). Managing foreign exchange and its risks: A focus on the Philippines. In B. P. B. Gutierrez, R. M. Lizares, & R. A. Rodriguez, R. (eds.), Cases and readings in international business, 923–976. Quezon City: U.P. Business Research Foundation, Inc.
Lizares, R. M., & Bautista, C. C. (2021). Corporate financial distress: The case of publicly-listed firms in an emerging market economy. Journal of International Financial Management & Accounting, 32(1), 5–20.
Lizares, R. M., & Bautista, C. C. (2020). Determinants of labour force participation in the Philippines. Malaysian Journal of Economic Studies, 57(2), 305-323.
Lizares, R. M. (2020). The multiplicity of corporate governance theories: Agency, resource dependence, and stewardship theories. In E. R. Roman, R. C. Ybañez, B. P. B. Gutierrez (eds.), Readings in corporate governance, pp. 27–48. Quezon City, Philippines: U.P. Business Research Foundation, Inc., and Development Center for Finance.
Lizares, R. M. (2020). Who has the power in corporate governance: Managers, shareholders, or board of directors. In E. R. Roman, R. C. Ybañez, B. P. B. Gutierrez (eds.), Readings in corporate governance, 73–101. Quezon City: U.P. Business Research Foundation, Inc., and Development Center for Finance.
Lizares, R. M. (2020). Control and collaboration in Philippine conglomerates: an empirical study on the effects of board structural characteristics on firm performance. Asia Pacific Business Review, 26(4), 375-395.
Lizares, R. M. (2019). The impact of corporate diversification on firm performance. Philippine Management Review, 26, 31-52.
Lizares, R. M. (2018). Assessment of the conduct, structure, and performance of the Philippine telecommunications industry. Philippine Management Review, 25, 27-52.
Lizares, R. M. (2018). Top management team composition and firm performance. Philippine Management Review, 25, 71-98.
Lizares, R. M., Rahnema, L., Pang-Rey, M., Suan, I., & Bautista, C. C. (2017). Graduate business program admission criteria and student graduate academic performance. Philippine Management Review, 24, 83-98.

Teaching

BA 101 Introduction to Business Management

BA 151 Human Behavior in Organizations

BA 158 Special Topics in Human Resource Management (HRM): Contemporary Issues in Organizational Behavior and HRM

BA 194 Fundamentals of International Business

BA 237 Special Topics in Marketing Management: International Business

BA 290 General Management

BA 291.1 Strategic Management I

BA 291.2 Strategic Management II

BA 350 Organization Theory

BA 391 Industrial Organization

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