October 25th, 2013
Michael 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.
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, 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.”
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.”
October 15th, 2013
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.
October 15th, 2013
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.
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.
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).
October 10th, 2013
Executive Director of the Levy-Rosenblum Institute for Entrepreneurship
A. B. Freeman School of Business
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 (email@example.com)
Keehn Berry Professor of Banking and Finance
Senior Associate Dean for Faculty
A. B. Freeman School of Business
Tulane University is an equal opportunity/affirmative action employer.
October 10th, 2013
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:
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.
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.
“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.
September 30th, 2013
Geoff Parker and Burcu Tan’s paper “Platform Performance Investment in the Presence of Network Externalities,” co-authored with Edward G. Anderson Jr., associate professor of information, risk and operations management at the University of Texas at Austin, has been accepted for publication in Information Systems Research. In the paper, the authors build a strategic model to investigate the trade-off between investing in high platform performance versus reducing investment in order to facilitate third party content development and characterize the conditions under which offering a platform with lower performance but greater availability of content can be a winning strategy. Parker is the Norman Mayer Professor of Business and professor of management science at Tulane University’s A. B. Freeman School of Business. Tan is an assistant professor of management science at the Freeman School.
September 17th, 2013
Dean Ira Solomon is pleased to announce that the A. B. Freeman School of Business at Tulane University has added five new full-time professors to its faculty for the 2013-14 academic year.
R. Lynn Hannan
R. Lynn Hannan, professor of accounting, comes to the Freeman School from Georgia State University, where she served as professor and director of the accounting PhD program. Hannan’s research focuses on how organizations can improve outcomes via the design of their accounting information and incentive systems. She has published numerous articles in prestigious scholarly journals including The Accounting Review, Contemporary Accounting Research, Review of Accounting Studies, Accounting, Organizations and Society and the Journal of Labor Economics, and has earned a number of awards for her research, including the Notable Contribution to Accounting Literature Award and the McLaughlin Prize for Research in Accounting Ethics. She serves on the editorial boards of several premier accounting journals and is a director for the Institute of Management Accountants’ Research Foundation. Hannan, a CPA, received her PhD from the University of Pittsburgh in 2000.
Jung Hoon Lee
Jung Hoon Lee joins the Freeman School’s tenure-track faculty as an assistant professor of finance after having served as a visiting assistant professor of finance in 2012-13. Lee’s research focuses on mutual funds, hedge funds and empirical corporate finance, and his paper “Conflicting Family Values in Mutual Fund Families,” co-authored with Utpal Bhattacharya and Veronika Pool, was published in the Journal of Finance in 2013. Prior to joining the Freeman School, Lee served as a visiting assistant professor of finance at Indiana University. He received his PhD in finance from Indiana University in 2011.
Assistant Professor of Marketing Emily Rosenzweig received her PhD in social psychology from Cornell University in 2013. Her research focuses on judgment and decision making surrounding consumer purchases, and her dissertation work on the predictors of purchase regret has been published in the Journal of Personality and Social Psychology. Prior to returning to graduate school, Rosenzweig worked in education research and program evaluation, including running her own consulting business. She received a BA in public policy from Princeton University in 1999.
Stephen Rowe, assistant professor of accounting, comes to the Freeman School from the University of Illinois at Urbana-Champaign, where he was an Accounting Doctoral Scholar and where he completed his PhD in Accountancy in 2013. His current research focuses on how individual behavior and financial reporting influence auditor and investor judgment under uncertainty. Prior to beginning his academic career, Rowe spent nine years working in industry, and he continues to maintain an active CPA license in Washington. Most recently, he worked at KPMG managing audits of banking and financial services companies. Prior to that, he worked in commercial banking and at a smaller accounting firm.
John Clarke joins the Freeman School as associate dean of graduate programs, MBA program director and professor of practice in management. Clarke comes to Tulane from the University of Illinois at Urbana-Champaign, where he served as assistant dean and clinical professor. In that role, he led initiatives in entrepreneurship, consulting and international immersion. Clarke’s teaching focuses on international business, entrepreneurship, product development and sustainability, and he has led more than 600 students on short-term immersion trips to Asia, Africa, Europe and South America. Prior to beginning his academic career, Clarke worked as a management consultant in Asia, Europe and North America. He has a PhD in physics from the University of Leeds.
In addition to the tenured/tenure track and professor of practice appointments, Dean Solomon announced two one-year administrative appointments. Mauricio Gonzalez has been named interim assistant dean for executive education, and Ralph Maurer has been reappointed as interim executive director of the Levy-Rosenblum Institute for Entrepreneurship. Gonzalez spent six years at the Freeman School as a clinical professor of marketing and director of the Goldring Institute before leaving in 2012 to become dean of EGADE Business School in Monterrey, Mexico. In his new role, Gonzalez will be based at the Freeman School’s facility in Houston. Maurer, a professor of practice in management, joined Tulane in 2009 as a visiting assistant professor of strategy and entrepreneurship. He is currently director of the Tulane Family Business Center and has served as interim executive director of the Levy-Rosenblum Institute since 2012.
Dean Solomon also named seven professors to one-year visiting appointments: C. Edward Fee, visiting professor of finance; Candace Jens, Zeigham Khocker, Roberto Stein and Yihua Zhao, visiting assistant professors of finance; Rebecca Franklin, visiting assistant professor of management; and Osman Kazan, visiting assistant professor of management science.
“Growing the faculty has been one of our top strategic priorities, so I’m delighted to announce these latest additions,” said Dean Solomon. “These outstanding individuals bring great scholarship, skilled teaching and strong enthusiasm to the Freeman School. We are all very excited to welcome them to Tulane University and the Freeman School family.”