Marcel C. Minutolo, Ph.D.
Professor of Management (Management)
412-397-5451 phone (M)
412-397-2217 fax
Massey Hall 314

LinkedIn Profile

Educational Background

  • Ph.D., Strategy, University of Pittsburgh, 2009
  • Master of Business Administration, Business Administration, University of Pittsburgh, 2001
  • Certificate, Asian Studies, University of Pittsburgh, 1998
  • Bachelor of Arts, Philosophy, University of Pittsburgh, 1995

Professional Background

  • Certified Six Sigma Black Belt
  • Amazon Web Services Cloud Practitioner
  • Amazon Web Services Accredited Instructor

Area of Expertise/Research

  • Certified Six Sigma Black Belt
  • AWS Certified Cloud Practitioner
  • Amazon Accredited Instructor
  • Machine Learning
  • Strategy - in particular Mergers and Acquisitions
  • Innovation and Technology Transfer
  • Conflict resolution
  • Sustainability and Corporate Social Responsibility


  • Guiora, A.M., Minutolo, M.C., & Vargas, L.G. (2021). Report on an Analytic Network Process (ANP) model to estimate the benefits, opportunities, costs, and risks (BOCR) that gun policies and violence prevention interventions have on legal users of firearms. International Journal of the Analytic Hierarchy Process, 13(2), 355-394.

  • Cerda, J., Rojas-Morales, N., Minutolo, M.C., & Kristjanpoller, W. (2021). High frequency and dynamic pairs trading with Ant Colony Optimization. Computational Economics, 57(3), 10129-2.

  • Guiora, A.N., Minutolo, M.C., and Vargas, L.G. (2021). Measuring U.S. Influence in the world. Journal of Multi-Criteria Decision Analysis, 28(1-2), 68-84.
  • Minutolo, M.C., Ivanova, A., and Cong, M. (2021). Signaling Sustainability: Impact of Learning how to Report on Enrollment, Endowment, and Emissions of North American Higher Education Institutions. Sustainability Accounting, Management, and Policy Journal, 12(5), 1140-1158.

  • Kristjanpoller, W., Michell, K., Minutolo, M.C., & Dheeriya, P. (2021). Trading support system for portfolio construction using wisdom of artificial crowds and evolutionary computation. Expert Systems with Applications, 177, 114943.

  • Peirano, R., Kristjanpoller, W., & Minutolo, M.C. (2021). Forecasting inflation in Latin American countries using a SARIMA-LSTM combination. Soft Computing, 25, 10851-10862.

  • Kristjanpoller, W., Michell, K., & Minutolo, M.C. (2021). A causal framework to determine the effectiveness of dynamic quarantine policy to mitigate COVID-19. Applied Soft Computing Journal, 104, 107241.

  • Guiora, A.N., Minutolo, M.C., and Vargas, L.G. (2020). Impact of gun policies on lawful owners of firearms. OSF.

  • Buxton, G.A., and Minutolo, M.C. (2020). The role that gaiters, masks and face shields can play in limiting the transmission of respiratory droplets.

  • Guiora, A.N., Minutolo, M.C., and Vargas, L.G. (2020). Measuring U.S. foreign policy effectiveness. Journal of Behavioral and Applied Management, 21(1), 18-31.

  • Minutolo, M.C., Kerzmann, T., and Buxton, G. (2020). Duopolistic optimization of alternative fueling stations. Energy and Climate Change, 1, 100001.
  • Prado, Francisco, Minutolo, M.C., and Kristjanpoller, W. (2020). Forecasting based on an ensemble autoregressive moving average - adaptive neuro - fuzzy inference system - neural network - genetic algorithm framework. Energy: The International Journal, 197, 117-159.
  • Ivanova, A., Minutolo, M.C. (2018). Impact of LEED certification on the market value of the firm. International Journal of Environment and Sustainable Development, 17(4), 317-330.
  • Minutolo, M.C., Kristjanpoller, W.D., and Stakeley, J. (2019). Exploring environmental, social, and governance disclosure effects on the S&P 500 financial performance. Business Strategy and the Environment, 28(6), 1083-1095.
  • Minutolo, M.C., Sierra, A., and Kristjanpoller, W. (2018). Short and long-term dynamic dependencies of main Latin American stock indexes and commodity prices: A wavelet approach. Journal of Accounting and Finance, 18(5).
  • Kristjanpoller, W., Minutolo, M.C. (2018). A hybrid volatility forecasting framework integrating GARCH, artificial neural network, technical analysis and principal components analysis. Expert Systems with Applications, 109, 1-11.
  • Gajardo, G., Kristjanpoller, W., and Minutolo, M.C. (2018). Does Bitcoin exhibit the same asymmetric multifractal cross-correlations with crude oil, gold and DJIA as the Euro, Great British Pound and Yen? Chaos, Solitons, & Fractals, 109, 195-205.
  • Minutolo, M.C., Mills, C., & Stakeley, J. (2017). Incentivizing management discretionary philanthropy: Social profit credits. Journal of Business and Behavioral Sciences, 29(2), 1701-181.
  • Ivanova, A., Minutolo, M.C., and Marcus, A. (2016). Direct and vicarious learning and firm performance. Journal of Behavioral and Applied Management, 17(2), 134-151.

  • Yang, Q. and Minutolo, M.C. (2016). The strategic approaches for a new typology of patent portfolios. International Journal of Innovation and Technology Management, 13(2), 1-18.
  • Kristjanpoller, W., Minutolo, M.C. (2016). Forecasting volatility of oil price using an Artificial Neural Network-GARCH model. Expert Systems with Applications, 65, 233-241.
  • Kristjanpoller, W., Minutolo, M.C. (2015). Gold price volatility: A forecasting approach using the Artificial Neural Network-GARCH model. Expert Systems with Applications, 42(20), 7245-7251.
  • Kristjanpoller, W., Fadic, Minutolo, M.C. (2014). Volatility forecast using hybrid neural network models. Expert Systems with Applications, 41(5), 2437-2442.
  • Smith, A.D., and Minutolo, M.C. (2014). Green supply chain acceptability and internal stakeholder concerns. International Journal of Logistics Systems and Supply Management, 19(4), 464-490.
  • Bennington, A. J. & Minutolo, M. C. (2013). Intent to be a socially responsible small or medium-sized enterprise: Theory of planned behavior and leaders' actualizing. Journal of Management and Sustainability, 3(1).
  • Nikulin, C., Graziosi, S., Cascini, G., Araneda, A., & Minutolo, M.C. (2013). An algorithm for supply chain integration based on OTSM-TRIZ. Procedia - Social and Behavioral Sciences, 75(3), 383-396.
  • Potter, J., Minutolo, M.C., & Mainier, E. (2012). The use of entrepreneurial separation to transfer technology programs to overcome market failures to license intellectual property. SAM Advanced Management Journal, 77(2).
  • Minutolo, M. C. & Potter, J. (2011). An introduction to entrepreneurial separation to transfer technology programs. Journal of High Technology Management Research, 22(2), 114-120.
  • Geng, Q. & Minutolo, M. C. (2010). Failure fee under stochastic demand and information asymmetry. International Journal of Production Economics, 128, 269-279.
  • Potter, J., Minutolo, M. C., & Lipinski, J. (2010). Key factors for shortening response time in the strategic issues diagnosis process. Journal of Behavioral and Applied Management, 12(1), 69-70.
  • Crothers, L., Lipinski, J., & Minutolo, M. C. (2009). Cliques, rumors and gossip by the water cooler: Female bullying in the workplace. The Psychologist Manager Journal, 12(2), 97-110.
  • Zoffer, J., Bahurmoz, A., Hamid, M. K.; Minutolo, M. C., & Saaty, T. (2008). Synthesis of complex criteria decision making: A case towards a consensus agreement for a Middle East conflict resolution. Group Decision and Negotiation, 17(5), 363-385.
  • Minutolo, M. C. (2008). Revisiting when firms learn from their acquisition experience: Evidence from 1996 - 2006. Regional Business Review, 27, 94-111.
  • Lipinski, J., Minutolo, M. C. & Crothers, L. M. (2008). The complex relationship driving technology transfer: The potential opportunities missed by universities. Journal of Behavioral and Applied Management, 9(2), 112- 133.