He is a professor of business administration and the Caterpillar Chair of Business. His research interest is organizational economics, which includes dynamic capabilities and resource-based theory, transaction costs theory, real-options theory, agency theory, property rights theory, stakeholder theory, and the behavioral theory of the firm. He has published over 60 articles in journal outlets, including Academy of Management Review, Industrial and Corporate Change, Journal of Business Venturing, Journal of Management, Journal of Management Studies, Organization Science, Strategic Entrepreneurship Journal, Strategic Management Journal, and Strategic Organization. His publications have been cited over 2,000 times in Web of Science, and over 8,500 times according to Google Scholar from scholars from 75 countries. Economic Foundations of Strategy, his book for first-year doctoral students, has been adopted by more than 35 doctoral programs worldwide. He has won awards for outstanding teaching in the Executive MBA and Professional MBA programs multiple times, as elected by his students. Mahoney earned a BA, MA, and PhD in economics and a doctorate in Business Economics from the Wharton School of Business at the University of Pennsylvania.