December 1st, 2014
Jasmijn Bol’s paper “Performance Target Revisions in Incentive Contracts: Does Information and Trust Reduce Ratcheting and the Ratchet Effect?” has been accepted for publication in The Accounting Review. The paper was co-authored by Jeremy Lill, a PhD candidate in the Department of Accountancy at the University of Illinois at Urbana-Champaign. Bol is an associate professor and the PricewaterhouseCoopers Faculty Fellow in Accounting at the A. B. Freeman School of Business.
November 25th, 2014
It’s more than 2,200 miles from the A. B. Freeman School of Business to Quito, Ecuador, but in that faraway South American community, accounting professor Beau Parent is fondly remembered.
Freeman School alumnus Augusto Martinez fondly remembers his former accounting teacher, the late Beau Parent. (Photos courtesy of Augusto Martinez)
Thanks to the efforts of Freeman alum Augusto Martinez (BSM ’90), a new educational and recreational center near Quito recently was dedicated to the memory of Parent, who died on July 20, 2014. He was a much-beloved and award-winning instructor who taught Financial Accounting at Tulane to every business undergraduate for 37 years.
A former student of Parent, Martinez is president and CEO of Parquesanto S. A., a leading Ecuadorian corporation in the death care industry. In keeping with its ongoing social programs, the firm built the new center earlier this year to serve 150 families in an underprivileged neighborhood in southern Quito.
“I believe it will have an important impact in increasing the quality of life of the people in this area through health care, vaccination campaigns, training seminars and courses,” Martinez said. A plaque on the exterior of the building carries a dedication to Parent.
Martinez explained the project in an email message to Colette Raphel, Parent’s daughter, who is the university registrar at Tulane. Martinez said in his message that Parent put his heart and mind into educating young people and was “a world-class educator.”
In a speech dedicating the center, Martinez said, “I have been lucky to attend classes, seminars and courses in several countries around the world, and I have never encountered someone like Beau. He will remain in my mind and my heart as one of my heroes, someone who inspired me and others in many ways. His teachings, his friendship, his kindness, his inspiration and his smile will always be in my heart.”
Fundraising is currently under way online for the Beau Parent Memorial Scholarship Fund.
In Quito, Ecuador, neighborhood residents gather for the dedication of the new educational and recreation center that honors the memory of Beau Parent, who taught accounting at Tulane for 37 years.
November 24th, 2014
Have an idea to solve a social problem in New Orleans? Enter the 2015 PitchNOLA competition and you could win $10,000 to help turn your idea into a reality.
PitchNOLA entrants can win up to $10,000 to help bring their social change ideas to market.
PitchNOLA: Community Solutions is a live “elevator pitch” competition that offers community members a platform to pitch their solutions to pressing local problems. Presented by the A. B. Freeman School of Business, Tulane’s Center for Engaged Learning & Teaching and Propeller: A Force for Social Innovation, the competition seeks ideas that support children and families, the environment, workforce development, and economic security. A lengthy business plan isn’t required to enter. Applicants should be startup-stage ventures that have generated less than $50,000 in sales or grant funding in the previous calendar year.
This year’s competition will take place on Jan. 28, 2015, at Tulane University. Selected semifinalists will pitch their ideas in front of a live audience and a panel of celebrity judges, including Matt Flannery, founder of Kiva and Puddle, and Leslie Jacobs, CEO of the New Orleans Startup Fund and founder of PowerMoves NOLA. The grand prize winner will receive $10,000 to help bring his or her venture to market as well as pro bono technical assistance and consulting services from Propeller, which provides support for New Orleans-based social entrepreneurship ventures. In addition to the grand prize, an Audience Favorite Award, voted by audience members, will also be presented.
In its six year history, PitchNOLA has built an impressive record for helping to get high-impact social change ventures to the next level. Last year’s winner, Crescent City Connections, has since recruited 1,200 volunteers, facilitated contribution of over $155,000 in labor to worthwhile causes, and was named one of the top businesses to watch in 2014 by New Orleans Magazine. The Justice and Accountability Center, which earned first-place honors in 2012, has provided expungements to over 1,000 individuals previously incarcerated for non-violent crimes, significantly helping to reduce recidivism.
The contest is open to individuals or teams based in the greater New Orleans area and the deadline for applications is Dec. 19, 2014. For more information about the competition and to apply online, visit GoPropeller.org.
November 19th, 2014
In 2006, Lynn Hannan earned the academic accounting discipline’s highest honor, the Notable Contributions to Accounting Literature Award, in recognition of her trailblazing research in managerial accounting. Now, thanks to the support of one of the world’s largest accounting firms, Hannan hopes to build on that record of scholarly excellence as the inaugural holder of a new professorship.
Lynn Hannan was invested as the Freeman School’s first Ernst & Young Professor in Accounting.
On Thursday (Nov. 6), Hannan was formally invested as the first Ernst & Young Professor in Accounting at Tulane University. The professorship, which was bestowed upon Hannan in a ceremony at the business school, was made possible through a generous gift from the EY Foundation and the partners and professionals of EY, the world’s third-largest professional services firm and a major supporter of Tulane and the A. B. Freeman School of Business.
“I can’t begin to express how honored I am,” said Hannan, professor of accounting and director of the Master of Accounting program. “To me this honor represents both a recognition of my past contributions and an expression of confidence in my future contributions to the Freeman School, to Tulane University and to the accounting profession. Let me assure you I’ll do my best to meet these expectations.”
“EY is extremely pleased with what the Freeman School is doing in accounting,” added Charles Swanson, former managing partner of EY’s Houston office, who spoke on behalf of the firm at the investiture ceremony. “To expand and grow the accounting program requires multiple elements, not the least of which is a strong accounting faculty. This is just a modest gift that we hope can contribute in that regard, so it is indeed a pleasure and honor to be here today to establish the EY Professorship.”
Funding for the professorship is part of a larger commitment to accounting education on the part of EY. Last year, firm partners and professionals together with the EY Foundation pledged $300,000 to the Freeman School to establish a fund to underwrite a number of initiatives. In addition to the professorship, the Ernst & Young Accounting Excellence Fund has also provided support for a redesign of the accounting curriculum as well as school-wide strategic planning efforts.
Tulane Provost Michael Bernstein, left, and Freeman School Dean Ira Solomon, right, joined friends and colleagues in honoring Hannan’s appointment as EY Professor in Accounting.
Hannan brings to the EY Professorship over a decade of outstanding teaching, research and service. Her current research draws on theories from economics, psychology and sociology to investigate how information, incentives and environmental factors affect people’s decisions. Her ultimate goal, Hannan said, is to help managers design better accounting control systems.
“I am more passionate than ever about my research,” she added. “Creating and disseminating knowledge, that’s what brings me joy.”
“Lynn is one of the discipline’s leading scholars and educators, so it gives us great pleasure to be able to recognize her achievements of the past and support her accomplishments of the future,” said Freeman School Dean Ira Solomon. “With the generous support of partners like EY, we’re building an accounting program of which we all can be very proud.”
November 18th, 2014
Mita Sujan’s paper “Temporal mindsets and self-regulation: The motivation and implementation of self-regulatory behaviors” has been accepted for publication in the Journal of Consumer Psychology. The paper, co-authored with Denise Buhrau (PhD ’10), focuses on implementation of self-regulation. Using data from Tulane University’s 10,000-steps-a-day fitness program, the authors argue that individuals with low consideration of future consequences (CFC) are more motivated to act when messages provide specific recommendations with the necessary contextual details for personalization (“when,” “where” and “with whom) that make planning accessible and easy. The study is part of a larger line of research aimed at better understanding failures of self-regulation, which Sujan says are at the core of the nation’s obesity and debt epidemics and which result in substantial costs to the economy. Sujan is the Malcolm Woldenberg Chair of Marketing at Tulane University’s A. B. Freeman School of Business.
November 13th, 2014
From Bloomberg Markets magazine, November 2014:
The fund takes its name from the Burkenroad Reports written by students at Tulane’s Freeman School of Business. Peter Ricchiuti founded the program in 1993 and named it after William Burkenroad Jr., a Tulane alum and donor. Each year, about 200 undergraduate and graduate students in Ricchiuti’s course fan out in teams across the South and spend a day with executives at about 40 publicly traded firms. The companies are often hungry for the attention, Ricchiuti says. “The further you are from Wall Street, the more you’re likely to find companies that nobody knows about. They don’t tend to get overpriced and overhyped.”
To read the article in its entirety, visit Bloomberg.com:
November 7th, 2014
Ira Solomon, dean of the A. B. Freeman School of Business at Tulane University, has been appointed to a two-year term on the board of directors of AACSB International. The appointment, effectively immediately, will run through 2016.
AACSB International is the longest-serving accrediting body and membership association for business schools worldwide. As an AACSB board member, Solomon joins a prestigious, international body of management education and business professionals whose focus is the vision, values and strategic leadership of the association. Board members are charged with establishing committees, advisory councils and task forces representative of AACSB’s current priorities and initiatives; approving the broadly stated annual budget and reviewing financial reports; and participating in the work of special committees or task forces as assigned.
Solomon has served as dean of the Freeman School since 2011. Prior to his appointment, Solomon was the R.C. Evans Endowed Chair in Business and head of the Department of Accountancy at the University of Illinois at Urbana-Champaign. A native of Roosevelt, N.Y., he received his PhD in accounting from the University of Texas at Austin and taught at the University of Arizona before joining the Illinois faculty in 1983.
November 7th, 2014
What does it take to run the world’s largest professional services network?
Deloitte global CEO Barry Salzberg fielded a wide range of questions from students as the 2014 R. W. Freeman Distinguished Lecturer.
For Deloitte Touche Tohmatsu CEO Barry Salzberg, who delivered the 2014 R. W. Freeman Distinguished Lecture on Tuesday (Nov. 4), the key is understanding how to lead by influence instead of line authority.
“When I was U.S. CEO, I had line authority over the entire U.S. firm,” Salzberg told a packed audience in the Lavin-Bernick Center’s Qater Ballroom. “Today, I have influence authority over 200,000 people at 47 member firms spanning the globe. How you get things done in that organization is very different than how you get things done when you have line authority.”
Each of Deloitte’s member firms operates independently, Salzberg said, with its own CEO and partnership agreement, so when Salzberg had an issue with the company’s member firm in Turkey, he flew to Istanbul to meet with the firm’s leadership team in person and convince them to agree to what needed to be done.
“If I were in the U.S. and we wanted the New Orleans office to do something, they did it. Period. End of story,” Salzberg said. “So it’s the influence rather than the line authority that’s really different with a global organization.”
For his Freeman School talk, Salzberg eschewed the traditional lecture format and instead opened the floor to questions almost immediately. With nearly 300 students in attendance, those questions ran the gamut from definitions of leadership to the state of the professional services industry to how quickly a recruit can expect to advance at Deloitte.
Students asked Salzberg questions about everything from the state of the professional services industry to how quickly recruits can expect to advance at Deloitte.
The timeliest question of the evening, however, came from Freeman School senior Jake Fuerst, who told Salzberg he was interviewing with Deloitte next week and asked the executive for any advice he might have.
“The best piece of advice is to say that you know Barry,” Salzberg quipped before encouraging Fuerst to learn as much as he could about Deloitte prior to the interview.
“Know enough about us that you can dialog and demonstrate to your recruiter that clearly Deloitee is where you want to be,” Salzberg said, “even if you’re thinking about five other places.”
The R. W. Freeman Distinguished Lecture Series was established by the Freeman family in 1985 to honor Richard W. Freeman Sr. (BBA ’34), former president and chairman of the Louisiana Coca-Cola Bottling Co. and former chairman of Delta Air Lines. Freeman served on the Board of Tulane for 13 years and was a major benefactor of the university and the business school. In 1984, he was instrumental in raising funds to rename the school in honor of his father, A. B. Freeman. He received the business school’s Outstanding Alumnus Award in 1958 and Tulane University’s Distinguished Alumnus of the Year Award in 1975. Richard Freeman Sr.’s grandson West Freeman and his wife, Aimee Adatto Freeman (MBA ’95), were in attendance at the lecture.
November 6th, 2014
ValuePenguin.com, a website that provides personal finance research and analysis, interviewed Master of Accounting student Neil Huntsman (MACCT ’15) for its “Future of Accountants” series.
“The environment at Tulane is perfect for professional education. I can already tell there has been a change in the way I think and process information. My classes are not basic accounting courses where a student learns to book specific entries. My classes stress analytical thinking and problem solving. The class size facilitates discussion with my peers and professors. It was strange to transition to a school where not only do all my professors know my name, but they want to know more about me. That level of personal engagement with professors is what I love most about Tulane.”
To read the interview in its entirety, visit ValuePenguin.com.
November 6th, 2014
A team of undergraduate students from the A. B. Freeman School of Business beat out peers from two other Louisiana universities to earn top honors in the first annual ACG Energy Case Competition.
The Freeman School earned first place honors in the inaugural ACG Energy Case Competition.
Based on the ACG Cup, the Association for Corporate Growth’s annual case competition for MBA students, the ACG Energy Case Competition was created to provide undergraduate students at local universities with real-world experience in the area of mergers and acquisitions, investment banking, and financial advisory services relating to the energy industry. The final round of the competition, which was hosted by ACG Louisiana with sponsorship support from Harvey Gulf, EY and McGlinchey Stafford, took place at the Freeman School on Oct. 4.
Five schools — Tulane, Xavier University, Louisiana State University, University of Louisiana at Lafayette and Southeastern Louisiana University— took part in a first round of intraschool competitions. Three of those schools — Tulane, ULL and Southeastern — sent teams to compete in the final round.
“The competition drew over 100 students from across Louisiana,” said Nene Glenn Gianfala (BSM ’07), who chaired the competition for ACG Louisiana. “We were thrilled with the participation and feedback that we received from the universities.”
The competition centered on a case involving a fictional publicly traded oilfield service company that was experiencing difficulties with one of its operating divisions. In the first round, students were asked to value the company and its under-performing division and consider a sale of the unit. In the final round, teams were presented with new information about the case and asked to prepare a 30-minute presentation with revised analysis.
In the end, judges awarded the competition’s first-place prize to Freeman students Ben Meisel, Joe Rosenfield, Tom Vaughan and Phil Martindale. For winning the competition, the team members, who are each currently enrolled in adjunct lecturer Les Alexander’s Energy Investment Banking course at the Freeman School, received a cash prize of $2,000 and four Young ACG memberships. The team from Southeastern earned second place and a $2,000 prize, and the team from ULL won third place and $500.
“All the teams that competed in the final round did a fabulous job,” said Gianfala. “They were definitely the crème de la crème of their respective universities.”