Archive for October, 2013

Research Notes: Michael Burke

Friday, October 25th, 2013

Michael BurkeMichael Burke’s paper “Statistical Significance Criteria for the rWG and Average Deviation Interrater Agreement Indices,” co-authored with Kristin Smith-Crowe, Ayala Cohen and Etti Doveh, has been accepted for publication in the Journal of Applied Psychology. Burke is a professor of management and the Lawrence Martin Chair in Business at Tulane University’s A. B. Freeman School of Business. He holds an adjunct appointment in the Department of Environmental Health Sciences at Tulane’s School of Public Health and Tropical Medicine. The senior author of the paper, Kristin Smith-Crowe, is a graduate of Tulane’s Industrial/Organizational Psychology doctoral program, which is cooperatively administered with the Freeman School’s Organizational Behavior doctoral program. Since 2011, Smith-Crowe has been a tenured associate professor at the University of Utah’s David Eccles School of Business. She is currently visiting as a Senior Fellow at the Wharton School of Business. Ayala Cohen and Etti Doveh are on the faculty of Industrial Engineering and Management, Technion – Israel Institute of Technology.

 


Groome and Tice receive inaugural Teaching Awards

Friday, October 25th, 2013

A legal studies instructor who sends her students into New Orleans courtrooms to help improve the city’s criminal justice system and a finance professor whose students are actively managing more than $3 million in Tulane University endowment funds are the first recipients of a new award that recognizes the best in teaching at the A. B. Freeman School of Business.

Sanda Groome

Sanda Groome

Sheri Tice

Sheri Tice

Sanda Groome, professor of practice in business and legal studies, received the first Teaching Excellence Award for Undergraduate Education, while Sheri Tice, professor of finance, received the first Teaching Excellence Award for Graduate Education. Dean Ira Solomon announced the awards, which include a $5,000 cash prize, at a faculty meeting in September.

“This was not an easy decision,” Solomon says. “[Senior Associate Dean] Paul Spindt and our six area coordinators submitted more than a dozen nominees, and each one deserved commendation for outstanding teaching. Ultimately, Sanda and Sheri stood out, and they stood out in large part for their efforts on behalf of Court Watch NOLA and the Darwin Fenner Fund, two unique, high-value experiential learning projects.”

Groome began teaching at the Freeman School in 2006, and in 2008, she joined the full-time faculty as a professor of practice. In 2009, she began a collaboration with Court Watch NOLA, a not-for-profit that monitors judges and reports on the efficiency of the New Orleans criminal justice system. As part of Groome’s Legal Studies service learning course, students go to court and take notes on how judges preside over criminal trials. Those notes are then incorporated into Court Watch reports, which serve as a valuable resource for voters during elections.

“Court Watch isn’t pro-state or pro-defense or even pro-court,” says Groome. “We just observe what’s going on. If you see that a judge has canceled court on many days or if he or she is always late, that will come out in the report.”

Besides helping to promote transparency and accountability in the criminal justice system, Groome says the program offers students valuable insights about the judicial system.

“Most student have never been in a courtroom before,” says Groome. “What they’re expecting is what they’ve seen on TV and in movies, and they quickly learn that it’s not really like that. I think it gives them a much better idea of the criminal court system, and it also shows them how the system affects not just the person on trial, but the victim, the families and the community.”

Tice joined the Freeman School in 1998, and has served as the A. B. Freeman Chair of Finance since 2011. In 2002, she took over the directorship of a dormant student investment fund and made it the centerpiece of an invitation-only honors seminar. Students in the Darwin Fenner Student Managed Fund course read current academic papers and use that research to develop models to screen sectors and identify mispriced stocks. At the end of the semester, students vote on which stocks in the $3 million fund to buy, hold and sell.

“I’m not a big believer in just standing up and lecturing whatever they can read in a textbook,” Tice says. “Instead, we discuss assigned academic research papers in class, and then the students apply what they’ve learned using real money and real stocks.”

Darwin-Fenner-Photo

Tice, seated in the center, with the Darwin Fenner Fund’s 2013 MFIN class.

Based on the fund’s performance, that approach seems to be working. Since 2002, the undergraduate-managed large-cap portfolio has beaten the market by 1.3 percent per year while the mid-cap portfolio, managed by MBA and MFIN students, has outperformed the market by 1.67 percent per year, both without taking on any additional risk using traditional risk measures. The program has been so successful that a small-cap portfolio was spun off this year to enable more students to take the class.

While a number of other schools have student-managed funds, Tice says the Darwin Fenner Fund is unique for involving both undergraduates and graduate students and for its emphasis on leading-edge research.

“To me, a great professor is someone who is able to bring research alive in the classroom,” Tice says. “I think that’s where the experiential learning component helps. Students struggle with reading the research papers, but when you tell them they have to invest a large amount of money and understanding these papers is going to enable them to be at the cutting edge and compete against the smartest people on Wall Street, it gives them an extra incentive and they learn the material.”

The Teaching Excellence Award is an outgrowth of the Freeman School’s recent strategic planning process. A faculty task force recommended consolidating the school’s various teaching recognitions into two awards—one each at the undergraduate and graduate levels—that recognize faculty members who are excellent educators and whose teaching aligns with the school’s strategic objectives.

Under the newly established system, area coordinators nominate faculty members within their respective areas, and those nominations are then supplemented with recommendations from the senior associate dean. Among the criteria to be considered are student evaluations, the extent to which the faculty member integrates academic research into his or her teaching, and whether the course provides high-impact experiential learning opportunities for students.

“Teaching is one of the most important activities in which we engage at the Freeman School, so it’s important for us to acknowledge and formally honor outstanding classroom instruction,” says Solomon. “Sanda and Sheri are true exemplars of teaching excellence, so I’m happy to be able to recognize and honor them as the first recipients of this award.”


NASDAQ sends Freeman a seven-story high salute

Tuesday, October 15th, 2013

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To commemorate the Freeman School’s 100th anniversary, NASDAQ displayed a special congratulatory message this morning on its famed MarketSite Tower in Times Square.

For more than 20 years, NASDAQ has been a dedicated corporate partner of the Freeman School. The company has sponsored the Burkenroad Reports program since its founding and is also a sponsor of the annual Burkenroad Reports Investment Conference. In 2006, NASDAQ donated $50,000 to help restart Burkenroad Reports in the wake of Hurricane Katrina. The company has also hosted numerous tours and site visits for students, including a September 2013 site visit as part of Freeman Days New York.

“NASDAQ is proud to be a partner supporting the program and all the great things Peter [Ricchiuti] has accomplished over the years,” wrote Tuan Le, director of NASDAQ OMX.


Research Notes: Emily Rosenzweig

Tuesday, October 15th, 2013

This is Emily Rosenzweig with the Tulane Business School.Emily Rosenzweig’s paper “The Performance Heuristic: A Misguided Reliance on Past Success When Predicting Future Prospects for Improvement” has been accepted for publication in the Journal of Experimental Psychology: General. The paper was co-authored with Clayton Critcher, assistant professor of marketing at the University of California – Berkeley’s Haas School of Business. Rosenzweig is an assistant professor of marketing at Tulane University’s A. B. Freeman School of Business.


Barron’s spotlights Burkenroad Reports

Thursday, October 10th, 2013

The Freeman School’s Burkenroad Reports program earned a national spotlight this week with a high-profile feature in Barron’s magazine.

Burkenroad-Reports

Barron’s praised Burkenroad Reports for the impressive record of its student analysts.

In Schooling Wall Street in the Big Easy, Barron’s reporter Christopher C. Williams profiles the long-running equities research program and highlights the impressive record of its student analysts.

Williams interviewed Peter Ricchiuti, professor of practice and founder of the program, for the article along with student analyst Jimmy Dunn (MBA ’14) and David Lundgren, manager of the Hancock Horizon Burkenroad Small Cap Fund, a mutual fund inspired by the program and which uses the reports as a primary source of research.

“Ricchiuti and his students zero in on what they consider value stocks, typically trading with a price-to-earnings growth ratio of less than one,” Williams writes. “Their targets tend to be little-known outfits in the energy or industrial fields, with market value below $1 billion, but they can pack a wallop in terms of stock performance.”

As an example of that performance, Williams cites appliance and furniture retailer Conn’s. Since earning a market outperform rating from students two years, the company’s stock has gained more than 600 percent.

“Schooling Wall Street in the Big Easy” appeared in the Oct. 7, 2013, print edition of Barron’s and is also available online at Barrons.com (subscription required).


Position Announcement: Exec. Dir., Levy-Rosenblum Inst.

Thursday, October 10th, 2013

Executive Director of the Levy-Rosenblum Institute for Entrepreneurship
A. B. Freeman School of Business
Tulane University

 

The A. B. Freeman School of Business at Tulane University in New Orleans invites applications and nominations for the position of Executive Director of the Levy-Rosenblum Institute for Entrepreneurship (LRI).

Leveraging Tulane’s location in the city of New Orleans — with its rapidly growing economy, technology, life science, and entertainment sectors, and its emerging prominence as a center for entrepreneurship — the LRI plays a central role in the Freeman School’s effort to sharpen its focus on entrepreneurship education, scholarship, and outreach. The LRI serves as the link between the School’s faculty and students on the one hand, and its alumni, local entrepreneurs, and employer organizations interested in innovation and entrepreneurship on the other. The LRI also serves as a laboratory to explore new programs and scholarship in a variety of areas and disciplines. Learn more by reading the School’s recently adopted strategic plan (http://www.freeman.tulane.edu/pdf/strategicplan.pdf).

The Executive Director of the LRI should have a Ph.D. in a business or related discipline, substantial experience managing entrepreneurial programs or as an entrepreneur, and the ability to work closely with Freeman School faculty to develop and deliver state-of-the-art experiential coursework relating to innovation and entrepreneurship. We prefer candidates who have a record of scholarship in entrepreneurship and innovation, but will consider all candidates with strong credentials. The Executive Director is responsible for managing the LRI and its programs and reports to the Dean of the Freeman School.

This appointment is a faculty appointment.

Nominations and applications will be held in strict confidence. Review of candidates will begin immediately and will continue until the appointment is made. Applicants should send a letter, indicating their interest, and a curriculum vitae. All materials should be submitted electronically to:

Professor Paul A. Spindt (businessdean@tulane.edu)
Keehn Berry Professor of Banking and Finance
Senior Associate Dean for Faculty
A. B. Freeman School of Business
Tulane University

Tulane University is an equal opportunity/affirmative action employer.

 


MarketWatch: What Twitter knows that Blackberry didn’t

Thursday, October 10th, 2013

mwlogo

From MarketWatch, Oct. 10, 2013

In the wake of Twitter’s recent IPO filing, Professor of Management Science Geoffrey Parker co-authored a commentary for MarketWatch on the growing impact of platform firms, companies with networked ecosystems that connect multiple players and provide tools for those participants to contribute and interact.

Ultimately, this transformation redefines competition. Firms that once sought advantage based on the strength of their internal resources and channel access now face competitors that harness armies of connected users and ecosystems of resources. Apple’s App Store, hosting nearly a million applications, offers a compelling testimony to the power of ecosystems.

To read the article in its entirety, visit MarketWatch:

http://www.marketwatch.com/story/what-twitter-knows-that-blackberry-didnt-2013-10-10


Freeman Days New York attracts record number of employers

Tuesday, October 1st, 2013

More than 300 Freeman students traveled to the Big Apple in September for Freeman Days New York, the Career Management Center’s annual networking and recruiting trip for students seeking jobs in New York City. This year’s event was the largest in history, with a record 92 companies hosting site visits and information sessions and taking part in networking opportunities.

More than 300 students attended this year's Freeman Days New York recruiting and networking event.

More than 300 students attended this year’s Freeman Days New York recruiting and networking event.

The program kicked off on Sept. 19 at the Marriott Marquis Time Square with a series of career skills presentations as well as information sessions from ThomsonReuters, S&P Capital IQ/McGraw Hill Financial, Citigroup and Heart Publications. Capping off the day was the Freeman Days New York Alumni Networking Reception, an annual event that enables current students to mix, mingle and network with New York alumni.

The next morning students visited Goldman Sachs, Credit Suisse, JP Morgan, Grey Advertising, Gilt Group, Morgan Stanley and other firms, but the day’s biggest event took place on the floor of the Marriott’s Grand Ballroom, where more than 80 companies met with students and collected resumes as part of two large Focused Networking sessions.

According to Peggy Babin, associate dean for external relations, the Career Management Center introduced the Focused Networking sessions this year to give more students access to more potential employers. In previous years, much of the networking activity during Freeman Days New York took place at company-sponsored site visits, which can accommodate only a limited number of students due to space constraints. This year, the Focused Networking format enabled hundreds students to get valuable face time with dozens of companies seeking recruits in one location.

More than 90 employers participated in this year's Freeman Days New York career event.

More than 90 employers participated in this year’s Freeman Days New York career event.

“The response we got from both students and employers was just overwhelming,” says Babin. “Both students and companies said they really liked the opportunity to make so many connections in one location. We may tweak the format slightly, but we definitely plan to bring back Focused Networking for next year’s Freeman Days New York.”

Among the companies that took part in this year’s Freeman Days New York events were Accenture, American Express, Atlantic Records, Barclays, BlackRock, Buzzfeed, Coach, Cushman & Wakefield, JCrew, Ralph Lauren, Lazard Asset Management, Macy’s, Moody’s Investor’s Service, Morgan Stanley, National Basketball Association, PricewaterhouseCoopers, UBS, Viacom, the Wall Street Journal and Time Warner Cable Media.

To see more photos from Freeman Days New York, visit the Freeman School’s Flickr page.



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