January 26th, 2015
From AccountingToday.com, Jan. 23, 2015
Accounting may be a profession mostly involving numbers, but for Lynn Hannan, a professor of accounting at the A. B. Freeman School of Business at Tulane University, factors such as psychology, sociology, and economics should also be a top priority.
“I was interested in how we can improve accounting to help people make better decisions,” she told Tulane’s website, focusing on the psychology behind employees and incentive systems.
To read the article in its entirety, visit AccountingToday.com:
January 21st, 2015
College entrepreneurs have less than two weeks to enter the 15th annual Tulane Business Model Competition for a chance to win more than $25,000 in cash and prizes for promising startup ventures.
Jan. 30 is the deadline to apply for the 2015 Tulane Business Model Competition, which will award $25,000 to a promising startup venture. (Photo by Cheryl Gerber)
The contest, which is hosted by the A. B. Freeman School of Business and the Tulane Entrepreneurs Association, seeks early-stage ventures that demonstrate a market-tested ability to adapt to customers’ needs. It is open to any team led by at least two or more students enrolled in a college or university. To enter, teams must submit a company description and other details by 11:59 p.m., Jan. 30 at: http://tulane2015.istart.org/.
“The Tulane Business Model Competition is a way for Tulane University to recognize and foster high-potential ventures that have demonstrated the ability to test their assumptions in the field and then pivot based on that market feedback,” said Lina Alfieri Stern, director of operations with the Levy-Rosenblum Institute for Entrepreneurship.
Tulane will select six semi-finalists who will get to pitch, receive mentoring and network with a variety of “Lean Startup” experts on Monday, March 23, during New Orleans Entrepreneur Week. Lean Startup is a business development model created by entrepreneur and author Eric Ries. The three finalists selected by judges will then present their business models at Tulane University on Thursday, April 16.
Formerly known as the Tulane Business Plan Competition, the contest was reorganized last year to emphasize the importance of validating a business model through field research. The contest rewards ventures for breaking down their idea into a key business model hypotheses; testing their assumptions with customers; applying Customer Development / Lean Startup principles to make sure they nail the solution; and changing until they have a customer-validated business model.
For more information, visit LRI.Tulane.edu/competition.php.
January 21st, 2015
For business school students, getting a good internship is the first step toward landing a great job after graduation, but for students lacking previous professional experience, that’s often easier said than done.
Barrett Cooper (MBA ’13) gives Jason Dunleavy, a sophomore majoring in finance, a tour of the Orpheum Theatre, which is currently undergoing a multimillion-dollar restoration. (Photo by Ryan Rivet)
To help ease the transition from classes to the professional world, the A. B. Freeman School of Business at Tulane University introduced a new program during the fall semester that enables students to “shadow” an alumnus on a typical workday.
Program developer Jade O’Dell says the NOLA Professionals Job Shadowing Program can give students practical knowledge of jobs and careers while helping them to become more comfortable with networking.
“This is something to do before you start applying for internships,” says O’Dell, a counselor in the business school’s Career Management Center. “You can talk to professionals in the field, get an idea of what different professions are like and then figure out where you want to go from there.”
Jason Dunleavy, a sophomore majoring in finance, was matched with Barrett Cooper (MBA ’13), chief operating officer of ERG Enterprises. The venture capital firm’s holdings include the Windsor Court Hotel, the Pontchartrain Hotel, Tipitina’s and the Orpheum Theatre, which is currently undergoing a multimillion-dollar restoration. Dunleavy spent the day with Cooper visiting properties and learning more about how the company chooses its investments.
“I was amazed at how smart Jason was and how knowledgeable he was of the industry,” Cooper says. “ERG Enterprises believes very strongly in the importance of mentoring and networking, so we were happy to be able to help Jason get a better understanding of what the workplace is like.”
O’Dell hopes to make the program available to more students during the spring semester, with the help of additional alumni volunteers. Any Tulane alumni interested in participating in the job shadowing program may contact O’Dell at 504-865-5417.
January 16th, 2015
Paddy Sivadasan and Ira Solomon’s paper “Audit fee residuals: costs or rents?” has been accepted for publication in the Review of Accounting Studies. The paper, co-authored with Rajib Dooger of the University of Washington-Bothell, suggests that fee residuals largely consist of researcher-unobserved audit production costs and are likely to be poor proxies for rents. This finding provides valuable guidance for how fee residuals should be used in future research, indicates promising avenues for future audit fee research, improves the ability to predict expected audit fees from past fee data and clarifies the policy implications that can reliably be drawn from extant and future fee-residuals-based research. Sivadasan is an assistant professor of accounting at the Freeman School and Solomon is dean and Debra and Rick Rees Professor of Business.
December 19th, 2014
The number of Freeman School alumni in the People’s Republic of China has grown to nearly 400 in recent years, comprising a large, diverse group of business, government and community leaders. In January, the Tulane Association of Business Alumni (TABA) will pay tribute to the business school’s growing footprint in Asia with the establishment of a new chapter in Shanghai.
In January, the Tulane Association of Business Alumni (TABA) will establish a new chapter in Shanghai to serve the Freeman School’s growing population of Chinese alumni.
The Shanghai Chapter of TABA — the association’s first new international chapter in 20 years — will sponsor networking events, promote the Freeman School and Tulane University in Shanghai, and serve as a hub and resource for Freeman alumni throughout eastern China. A ceremony and reception recognizing the chartering of the chapter will take place on Friday, Jan. 9, at Shanghai’s Grand Swissotel. All Freeman School alumni interested in being part of this historic event are invited to RSVP at freemanshanghai.eventbrite.com.
“One of the goals we outlined as part of last year’s strategic planning process was to expand our alumni outreach in China,” says Peggy Babin, associate dean for external relations. “The establishment of a TABA chapter in Shanghai will enable us to better support and serve the interests of our graduates in China, which boasts our fastest-growing alumni population in the world.”
The chartering ceremony is being held in conjunction with another major event designed to serve the Freeman School’s growing number of Chinese constituents. The West to East Career Expo, which will take place from Jan. 6 – 9 also at the Grand Swissotel, is a networking and recruiting event for Chinese nationals studying business at Tulane, Rice University, Hong Kong University of Science and Technology and the University of Southern California. About 100 students will have the opportunity to network, attend company information sessions and interview for jobs in China.
“This event is a ground-breaking approach in serving our international student population,” says Leonard Williams, director of the Freeman School’s Career Management Center. “Although many of our international alumni have been successful in gaining employment on their own when they return to their home country, this event will make that process easier and possibly more efficient for them.”
In conjunction with the expo, the Freeman School will host a networking reception for Freeman School students and alumni in China on Tuesday, Jan. 6, at the Grand Swissotel. The reception is being modeled on Freeman Days events, so participation from alumni is essential to its success. Any Freeman School alumni interested in attending should RSVP at freemanshanghainetworking.eventbrite.com as soon as possible.
December 11th, 2014
Tulane University’s Burkenroad Reports won top honors this week for best teaching delivery in the prestigious Wharton-QS Stars Awards, an international competition recognizing innovative approaches in higher education that enhance learning and student employability.
Peter Ricchiuti, founder and director of Burkenroad Reports, which earned a national award for innovative teaching on Tuesday.
The program, within the A. B. Freeman School of Business at Tulane University, gives students practical stock analysis experience by covering traditionally overlooked small-cap companies in the Gulf South. Each year 200 students meet top management, visit company sites and publish investment research reports on 40 “stocks under rocks” in six states.
“This is an amazing recognition of the work we have been doing for the past 21 years,” said Peter Ricchiuti, Burkenroad Reports founder and director. “It is particularly meaningful because it celebrates both the creativity of the program and its results in developing strong, well-prepared students. Burkenroad Reports has sent about 600 students off to careers in the investment field.”
Hancock Bank manages a mutual fund based on the program. It has over $750 million in assets and has outperformed about 99 percent of the nation’s nearly 7,000 equity mutual funds, Ricchiuti said.
“The investment community has praised the research excellence of Burkenroad Reports for years, but I don’t think as many people realize it’s also a unique and innovative educational program,” said Freeman School Dean Ira Solomon. “I’m very pleased to see Peter and his staff receive this well-deserved national recognition for developing and executing a truly outstanding educational program.”
The Wharton-QS Stars Awards took place on Dec. 9 in Philadelphia. The competition, developed by the Wharton School SEI Center of the University of Pennsylvania and QS Quacquarelli Symonds, publisher of the QS World University Rankings, received submissions from 427 universities and enterprises from 43 countries. It included 21 awards judged by a panel of 25 international experts. A list of winners is available at http://www.reimagine-education.com.
For more information on Burkenroad Reports, visit http://www.burkenroad.org.
December 10th, 2014
Last year, students in a Freeman School marketing class worked with officials from Fox Sports New Orleans to help develop a marketing campaign for the network’s coverage of Louisiana high school sports. This year, Fox Sports New Orleans showcased those ideas in a series of promotional spots that aired throughout the 2014 high school football season.
The ads were written and produced by Fox Sports New Orleans’ marketing staff, but Director of Marketing Mary Hyink says the spots were based in large part on ideas the students came up with. On the creative side, the students proposed a campaign that focused on the legacy of Louisiana high school sports and suggested using NFL stars who played high school football in Louisiana to promote the network’s coverage. Fox Sports New Orleans ended up engaging former NFL stars Jake Delhomme (above) and Randall Gay (below), both former Louisiana high school standouts, to promote its game of the week. Several Freeman students even participated in filming the spots. On the social media side, Fox Sports New Orleans adopted the students’ idea for a hashtag campaign — #wheredyageaux — to tap into the school pride that’s at the heart of the high school athletics experience. Hyink says the spots aired more than 300 times during football season.
“We had a great experience working with Tulane last year,” said Hyink. “Their ideas really helped shape our 2014 campaign.”
Hyink says Fox Sports New Orleans was so pleased with last year’s project, they plan to work with a class of Freeman students on a new project focused on its New Orleans Pelicans coverage in the spring 2015 semester.
December 8th, 2014
Claire Senot’s paper “The Impact of Combining Conformance and Experiential Quality on Hospitals’ Readmissions and Cost Performance” has been accepted for publication in Management Science. The paper, co-authored with Aravind Chandrasekaran, Peter T. Ward, Anita L. Tucker and Susan D. Moffatt-Bruce, examines two key process quality measures — conformance quality and experiential quality — and two measures of performance — readmission rate and cost per discharge — to investigate the opportunity for hospitals to achieve better care at lower cost. The authors find that hospital administrators can mitigate the tradeoff between reducing readmissions and controlling costs by prioritizing communication-focused experiential quality, which measures caregivers’ ability to engage in meaningful conversations with the patient, over response-focused experiential quality, which measures caregivers’ ability to respond to explicit patient needs. Senot is an assistant professor of management science at the Freeman School.
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.