He was listed among the top scholars in economics, finance, and management by Times Higher Education,[4] as a Highly Cited Researcher in the Web of Science,[5] and has been ranked third globally by Research.com.
[12] Hitt has contributed to the field of business, economics and management by studying strategic entrepreneurship, mergers and acquisitions, international strategy and resource orchestration.
He co-authored the book Strategic Management: Competitiveness and Globalization with Ireland and Robert Hoskisson, observing that younger firms may excel in entrepreneurship but lack strategic vision, while established firms may prioritize strategy but become risk-averse, leaving them vulnerable to innovative competitors.
[13] He was also a lead author on a paper published in Academy of Management Perspectives in 2011 which detailed their more developed thinking on strategic entrepreneurship.
He started working on this subject in the late 1980s, with his first article published in 1991, where he examined the impact of acquisitive growth on managerial commitment to innovation, suggesting that factors like the acquisition process and post-acquisition conditions influence managers' dedication to innovation, shaping strategic decision-making.
Ithai Stern stated that the work is "a travel guide holding everything you need to know for a perfect journey through the world of mergers and acquisitions.
He conducted research on firm competencies, corporate strategies, and the resource-based view, noting early criticisms of its static nature.
Alongside David Sirmon and Ireland, he developed a dynamic model for resource management to create customer value and competitive advantage.