The annual report of the university of kansas school of business
2012 / 2013
Decision scientists lead new research center page 20
soaring to new heights School announces new building page 12
Nobel laureate talks financial innovation page 10
dean As dean, one of the most important aspects of my job is to grow the University of Kansas School of Business as a great place to learn, a great place to work and a great place in which to invest. The achievements of the School of Business during the last academic year are a reflection of faculty, staff and alumni dedication to our students and the business community. It is my honor to share with you the report of this momentous year. In October, the School of Business made an announcement that will ensure its future success in business education and research: the construction of a new $60 million building. In this issue, you’ll read about how executives such as Dave Dillon, Bob Benmosche and Steve Koonin shared their leadership
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experience with students as part of my lecture series. The new building will, no doubt, entice more worldrenowned speakers, like Nobel laureate Robert Merton, who spoke with students in February, to share their intellectual capital with KU. You’ll read of several faculty members who received awards to recognize their teaching success. With new technology, collaborative learning spaces and research-based classroom design, the new building will provide our faculty with greater opportunities to educate tomorrow’s business leaders, and allows us to recruit and retain the brightest stars in teaching and research. Within these pages, you’ll hear from professors Prakash Shenoy and Steve Hillmer about the first year of the Center for Business Analytics Research (CBAR). The advancements CBAR is making in big data and analytics-based decision making,
combined with the new building’s state-of-the-art facilities, will keep KU research in the national spotlight. The new building is a direct result of alumni investments, but these investments also enrich the state through programs such as KIP, the Kansas Impact Project. After KIP’s inaugural year, nonprofits from across Kansas are lining up to be a part of this innovative MBA consulting project. The changes we’re experiencing are just the beginning. The best years of the KU School of Business are just around the corner. Thank you for your continued support. Rock Chalk, Jayhawk!
Neeli Bendapudi Dean
The mission of the University of Kansas School of Business is to prepare students for careers in the practice of business and management by maintaining a leading business school that fosters the creation and dissemination of knowledge in a changing global environment.
table of contents MBA program celebrates 50 years with alumni reunions Social entrepreneurship at forefront of MBA program A year in numbers Business honors program advances to its second year Accounting, business administration graduates named distinguished alumni Nobel laureate talks financial innovation, funding retirement Human resources class builds social media recruitment strategy
04 05 06 08 09 10 11
Trying to save more?
Insurance giant brings national debt conversation to KU
The first-year experience round two
Loan default rates lower in rural communities
School celebrates Global Entrepreneurship Week
Big Data: Two professors lead new research center
Governor sheds light on new tax policy
Executives bring wealth of experience to lecture series
Soaring to new heights
Faculty members recognized for excellence in teaching Hunting for insider trading?
School hosts international business conference on China
Supply-side economist talks public policy Deanâ€™s Board of Advisors Donor Recognition Professorships and Fellowships Academic Administration
31 32 34 34 35
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CREDITS Dean Neeli Bendapudi Editor Austin Falley Writers
Dan Dutcher Austin Falley Joe Monaco Annie Montemayor Steph Stoss Jamie Wiebe
Photography Ann Dean Gensler KU Archives Design Friesen Design, Inc. Printing Sun Graphics The Deanâ€™s Report is produced annually for alumni and friends of the University of Kansas School of Business.
CONTACT US The University of Kansas School of Business Summerfield Hall 1300 Sunnyside Avenue Lawrence, Kansas 66045-7601 P: 785-864-7500 email@example.com business.ku.edu
years MBA program celebrates
with alumni reunions
The KU Business School will commemorate 50 years of its MBA program this year, and it wants alumni to help celebrate. Started in 1962, the MBA program had its first graduates the following year, and has produced nearly 6,000 MBA graduates since its inception. During Homecoming weekend in October, the business school will host several events for MBA alumni. On Friday, Oct. 4, the school will have a welcome reception for classes 2003, 1993, 1983, 1973 and 1963 from 6 to 8 p.m., at the Lawrence Country Club. Saturday, Oct. 5, will kick off with a tour of Allen Fieldhouse at 9 a.m., and later in the day alumni can head to the football game for the schoolâ€™s tailgate on the Hill, which will be held prior to kickoff.
Save the Date
Oct. 4 - Lawrence Country Club Oct. 5 - Allen Fieldhouse
social entrepreneurship 01
at forefront of MBA program Ashland
Ashland Health Center
03 0 4 02
Douglas County Food Policy Council & Bert Nash Community Health Center
The Kansas Impact Project (KIP), pairs Kansas nonprofit organizations with teams of first-year MBA students. Each team works with their organization to find a feasible solution to a real challenge in the organization. At the end of the spring semester, each group presented their ideas at a public event that included business school faculty and staff and representatives from each organization. “We began with such great enthusiasm. I was expecting good things,” said Catherine Shenoy, director of MBA programs. “KIP was more successful in some ways I never expected. I’m thrilled with the first-year outcomes.” The Douglas County Food Policy Council, Central Exchange, Bert Nash Community Mental Health Center, the City of Lawrence sustainability office and Ashland Health Center participated in the inaugural project. “It’s encouraging to see an MBA program do a project like this,” said Benjamin Anderson, CEO of Ashland Health Center, in the small town of Ashland, Kan.
City of Lawrence Sustainability program
Oswego, another small Kansas town, is the hometown of Caleb Hays, an MBA student who worked with Anderson’s company. Hays connected with the company and people partly because of his small town background. “I really enjoyed getting to make use of the things I’m learning in the classroom immediately,” he said. “Our ideas have been implemented with success by the company. I think that speaks to the strength of our team and the quality of the education and experience.” Dee Steinle, administrative director of masters programs, said the goal is to expose MBA students to the importance of civic leadership. “In what better way can we train future business and civic leaders than to introduce them to and engage them in issues unique to their own state?” Steinle asked. KIP is so successful that next year’s organizations are already selected and there is a waiting list of businesses eager to be part of the project in the future. If your organization would like to receive more information, contact Catherine Shenoy at firstname.lastname@example.org.
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A year in numbers Numbers paint a picture. They tell a story of where we’ve been and where we’re headed. The University of Kansas School of Business is soaring to new heights – just look at the numbers.
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The number of organizations assisted by the MBA program’s Kansas Impact Project. Our first-year MBA students spent nearly an entire academic year building strategies to overcome management challenges for nonprofits across Kansas, including Ashland Health Center (Ashland), Bert Nash Community Health Center (Lawrence) and Central Exchange (Kansas City, Mo.), and that number will almost double in 2014.
The number of new admits in our Business Leadership Program, which is designed for talented undergraduate students with potential to become tomorrow’s business leaders. BLP students are involved in the program during their first two years at KU and participate in cohort activities, events and classroom discussions to develop further their professional, personal and career skills.
The number of new doctoral students who are joining us in fall 2013. KU has a long history of doctoral education, and the School of Business continues to attract some of the brightest doctoral candidates in accounting, decision sciences, finance, marketing and organizational behavior.
This is the number of 2013 inductees into KU’s chapter of Beta Gamma Sigma, an international honor society that recognizes top business students from around the world. Beta Gamma Sigma accepts only students who rank in the top seven percent of the baccalaureate and top 10 percent of graduate programs with AACSB accreditation.
The years the KU School of Business has educated students and created business leaders. With great support from our alumni and friends, who are making the new building a reality, we’re poised for many more years of business education.
That’s the career placement percentage of our 2013 class of MBA graduates, which is up nearly 30 percent from the previous academic year, and the number continues to grow. We’re pleased with this number, but know that it can rise in the next years.
That’s the number of active alumni, both here in the U.S. and abroad, of the KU School of Business. Our graduates are leaders in business and their communities, and their dedication to the crimson and blue is unparalleled.
A huge number for us. To date, it’s the financial support we’ve received from alumni and friends for the new School of Business building. We’ve been blown away by the groundswell of support from business Jayhawks around the world – entirely through private contributions. You believe in us, and the new building will help us soar to new heights.
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Business honors program advances to its second year This fall marks the second year of the Business Honors Program, designed for students who exemplify academic excellence and leadership potential. The program debuted in fall 2012 with the intent to offer a richer experience for students who were seeking a more rigorous business school experience. “When we review applications, we look for candidates who are 50/50 in strong academics and actively involved,” said lecturer Lisa Bergeron.
Honors students take 12 credit-hours of honors classes and are expected to demonstrate leadership through university involvement and participation in cohort learning.
Bergeron said that the aspiration profiles make the students more accountable for what they want out of the program and discover what the program directors can do to help them grow.
“The experiential learning activities challenge the students through team building, mentally and physically,” Bergeron said. “They had to learn to trust each other through failure, and redo the exercise.”
“More forward thinking in updating my aspirations profile was that I was able to set new goals. I acquired a job as a teaching assistant for the introductory finance class with Kelly Welch for the fall. I was able to think about what I expected to get out of the job,” Johnson said.
The activities provided the students the opportunity to grow and learn to work toward their personal goals together. When a student joins the program, he or she is asked to fill out an aspirations profile that details the student’s personal goals to gain from the program. This fall the students updated their profiles for the first time. “What I enjoyed most about updating my aspirations profile was seeing my goals achieved,” said Beck Johnson, a finance senior from Kansas City. “I vastly exceeded my hopes of what I would gain from the experience. The skills and knowledge learned were very handy in gaining my internship this summer at OpenAir Equity Partners in Kansas City.”
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There are 72 students involved in the Business Honors Program this fall. “I’m excited to see how the program evolves. Because it’s so new it’s constantly changing with the feedback we receive from students about what they want out of the program to help meet their aspirations,” Bergeron said. Undergraduate program director Bill Beedles is very excited for what the milestones offer this year. “We’ll celebrate our first students graduating with Business Honors,“ Beedles said. “This will be as close as I’ll ever to come to giving birth.”
Accounting, business administration graduates named
distinguished alumni The list of School of Business distinguished alumni is aptly named. It includes Dave Dillon, CEO of The Kroger Co., entrepreneur and philanthropist Philip Anschutz and investor David Booth. This year, two more alumni were added to the list.
Chris Lynch graduated from KU in 1979 with a bachelor’s degree in accounting and business administration. For most of his career, he worked with KPMG LLP. He retired in 2007 and sits on the boards of American International Group (AIG) and the Federal Home Loan Mortgage Corp. (Freddie Mac).
Roger Davis graduated from KU in 1972 with a bachelor’s degree in accounting and business administration. After joining Paxton/Patterson in 1980 as general manager, he is now the CEO and majority owner of the Chicago-based company.
“I don’t think I came across anything in the first couple of years of my career that I had not already had some exposure to, whether it be in the academic environment or the internships that I worked,” Lynch said. “Looking back, I think that was a critical component of being part of the University of Kansas School of Business.”
“The single biggest contributor to my career success is the KU business school and two professors in particular: Robert Sterling and H.K. L’Ecuyer,” Davis said. Sterling taught at the business school from 1967 to 1974 and L’Ecuyer taught at KU from 1949 to 1974. “Find your personal ‘sweet spot’ - the intersection of your aptitudes, interests and abilities,” Davis said, when asked what advice he has for current business students. “If you’re good at what you’re doing but not interested in it, it’s not rewarding. If you’re doing something you love but aren’t that great at it, it’s a struggle.”
Lynch said one of the attributes of a successful business person is the ability to listen and make decisions, even with imperfect information. “Executives often times want to say, ‘I know this issue,’” Lynch said, “when, in fact, you can often be blindsided because you don’t allow yourself to continually expand your sphere of perspective.”
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Nobel laureate talks
financial innovation, funding retirement The venue was standing room only when Nobel laureate and financial economist Robert Merton came to town. In February, he presented “A Next Generation Solution for Funding Retirement: A Case Study in Design and Implementation of Financial Innovation,” at the Dole Institute of Politics. Merton received the Nobel Prize in Economics in 1997 for his work on the Black-Scholes-Merton model for pricing options, which remains one of the best ways to determine the value of derivative securities. The model is considered one of the most important concepts in modern financial theory. “Merton’s visit to campus allowed our business students the opportunity to hear how an extraordinarily productive scholar uses his knowledge to craft practical solutions to important real world problems,” said Doug Houston, associate dean for academic affairs.
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The Nobel Prize-winning financial economist has spent much of his career consulting both private and public entities on maintaining solvent employee retirement funds, and he dedicated his lecture at KU to that topic. “In particular, Merton showed students how financial economic knowledge can be used to develop an integrated pension management system that addresses difficulties with current pension plan systems,” Houston said. Merton was accompanied to campus by David Booth, recipient of the 2012 School of Business Distinguished Alumni Award. One of the highlights of Merton’s trip, said Kelly Watson-Muther, dean’s office chief of staff, was the luncheon held prior to the public lecture. “Gov. Brownback and members of his team, along with alumni, KU leaders and current students, had the opportunity to have an intimate discussion with the Nobel laureate and creator of one
of the most important concepts in modern financial theory,” WatsonMuther said. “That certainly doesn’t happen every day.” Merton’s academic tenure spans the nation’s top institutions, including Harvard Business School and MIT, where he currently teaches finance at the Sloan School of Management. He holds degrees from Columbia University, California Institute of Technology and MIT. Merton has received numerous honorary degrees for his academic work, including honors from the University of Chicago and Harvard. Merton was thanked for his time on campus with a personalized KU basketball jersey, presented to him by Baby Jay. “His approach can help many individuals without great wealth to better provide for their retirements,” Houston said. “His demonstrating a clear linkage from classroom learning to practical market application helped reinforce the merits of students’ classroom efforts today, and points to the value they can add to people’s lives in their future careers by applying their knowledge.”
Human resources class builds social media recruitment strategy
Last spring, the Payless human resources department was looking to increase the volume of its applicants while undergoing a company branding shift. In developing a new strategy, the department turned to the School of Business for fresh ideas. “It was interesting to see how much the students looked at information that pertained to a company’s culture and associate testimonials, not just job openings,” said Hollie Becker, manager of university relations at Payless. “It was also neat to see their perspective on newer channels to social media recruiting such as Instagram and Pinterest.” Six teams, enrolled in Recruitment and Selecting Effective Employees (MGMT 413), worked all semester to research what competitors were doing and ultimately develop a strategic recruitment campaign on networks such as Facebook, Twitter, LinkedIn, Pinterest and Instagram. “My team suggested taking advantage of Pinterest,” said Andrea Serrano, an Olathe senior in management. “It’s a newer platform and less crowded with job postings than obvious networks like Twitter and Facebook. It’s only four years old, has more than 50 million users and has the potential to put them ahead of the game.” Don Mitchum, recruiting manager at Payless, said that the recruitment team learned about the social media
recruiting used by various companies that were catching the attention of graduating KU business students. “Each group presented outstanding ideas to enhance our strategic recruiting efforts,” Mitchum said. “Receiving real-time data from graduating business students who have recently spent time looking for prospective employers was extremely valuable.” The recruiting team leveraged notes from the project teams to improve its strategic recruiting marketing efforts in its action plan for 2013.
“Receiving real-time data from graduating business students who have recently spent time looking for prospective employers was extremely valuable.” “We were so impressed with the project work that, following the presentations, we announced that we would like to hire one of the students to complete a summer internship on the recruiting team,” Becker said. “We were so pleased with the research and creativity the students put into this project. We walked away with several ideas that we plan to implement.”
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Soaring to new heights School of Business announces new building
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Undoubtedly, the biggest news out of the KU School of Business this year is the announcement of its new $60 million building, which will not only better equip students and faculty, but boost enrollment. It’s a project years in the making, said Howard Cohen, chair of the fundraising committee, and through the hard work of Neeli Bendapudi, dean of the School of Business, and many dedicated alumni, it’s finally paying off. Built in 1960, the current home of the School of Business, Summerfield Hall, is past its prime, Cohen said. “KU is one of the top business programs in the country,” he said. “The problem is that we’re housing it in a building that doesn’t highlight that.” The school’s new building will be located on the east side of Naismith Drive, across from Allen Fieldhouse. The six-story, 166,000-square-foot building will feature the newest technology, modern learning labs, auditoria and space for collaboration and research. Improving the learning space for current and future students not only adds value to their education, but also to past graduates as the School of Business proves its continued dedication to excellence, Cohen said. The needs of the students are the driving force behind the design, Cohen said. The goal is to create an environment where they can spend their time truly delving into their education. When Cohen and members of the committee visited other business schools as research for the new design, they noticed that most students spend their entire day in
the business building. It’s home not only for their classes, but also advising, career centers, workspace and more. “Right now, kids that come into Summerfield can’t wait to get out of there,” Cohen said. With about 25 percent of incoming KU freshmen expressing interest in business, the school is forced to turn away good students, Cohen said. With more space and better facilities, the new building is expected to boost annual business graduates from 500 to 750 in the undergraduate program and from 280 to 350 in the graduate program. Within the first five years, undergraduate enrollment in the school is expected to increase from 1125 to 1650. In June, the business school announced Gensler as the architecture team for the new building. Gensler’s resume includes work with business schools at University of Pennsylvania, University of Houston, University of Nebraska and Duke University. Based in Chicago, the global architecture, design and planning firm will serve as the project’s design architect with Gastinger Walker Harden + Bee Triplett Buck (GWH+BTB), of Kansas City, Mo., as the local partner. The two firms will work on the project as a team to provide both local knowledge and global experience in higher education.
Feature Story dean’s report 13
With the design in place, funding for the new building was the final step. “It’s been an easy sell,” Cohen said of fundraising, and there’s been an outpouring of support from business school alumni. In October, Capitol Federal Foundation of Topeka committed a $20 million lead gift, the largest in the business school’s history and in the foundation’s history. “An outstanding School of Business is an integral part of every university,” said John B. Dicus, chairman, president and CEO of Capitol Federal Savings. “We’re proud to play a role in making this building a reality. With this gift, we are giving students at the University of Kansas the opportunities they need to be successful in the business world.”
Members of the new building visioning committee brainstorm space adjacencies and relationships
“An outstanding School of Business is an integral part of every university.” “The Gensler team was chosen for its depth of work in higher education facilities and creative solutions to learning spaces,” Bendapudi said. “The committee was swayed by its impressive personnel and cohesive relationship with the local architectural firm, and we’re confident that the team will help us create one of the top business school facilities in the country.”
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Dicus earned his bachelor ’s and master’s degrees in business administration from KU in 1983 and 1985 respectively, and his father, John C. Dicus, chairman emeritus of Capitol Federal Savings, earned a bachelor’s degree in business from KU in 1955. With rapid changes in the business landscape, business education must continue to adapt, Bendapudi said. “This gift will help create an environment that fosters innovation in business education and research and attracts top students and faculty,” she said. “Capitol Federal Foundation’s transformative gift is an investment in ensuring that our students and our state will be competitive in the global marketplace.” After the lead gift was secured, the campaign continued with support from more alumni, who contributed $13 million.
We are grateful to our generous donors for making this new building a reality.
The Dicus family celebrates Capitol Federal Foundation’s lead gift at the Oct. 2012 announcement ceremony
“everybody will have an ownership stake in this.” Alumni who donated leadership gifts include: The Hall Family Foundation of Kansas City, Mo., $2.5 million; David and Suzanne Booth of Austin, Texas, $2.5 million; Dana and Sue Anderson of Los Angeles, $1.4 million; Howard and Debbi Cohen of Leawood, Kan., $1.1 million; Roger and Julie Davis of Chicago, $1 million; Ned and Janis Riss of Mission Hills, Kan., $1 million; and Tony and Vicki Batman of Dallas, $500,000. In addition to the large donations, alumni across the country have set up fundraising drives, even challenging their fellow alumni living in different cities to see who can raise the most,
Cohen said. The school also plans to sell bricks, which students, alumni and faculty can personalize and have included in the construction process.
Capitol Federal Foundation of Topeka, Kan., $20 million The Hall Family Foundation of Kansas City, Mo., $2.5 million David and Suzanne Booth of Austin, Texas, $2.5 million Dana and Sue Anderson of Los Angeles, $1.4 million
“Everybody will have an ownership stake in this,” he said.
Howard and Debbi Cohen of Leawood, Kan. $1.1 million
Bendapudi said she was excited to see so much support for the project.
Roger and Julie Davis of Chicago, $1 million
“The creation of a new building is so critical to the advancement of the KU School of Business,” she said.
Ned and Janis Riss of Mission Hills, Kan. $1 million
The business school will celebrate with a groundbreaking ceremony at the future construction site Oct. 18.
Tony and Vicki Batman of Dallas, $500,000
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trying to save more? Consolidate your bank accounts We all know we should save some money for a rainy day. Of course, that’s easier said than done when you really, really want that new iPhone. Or that new designer jacket. Or both.
has multiple liquid accounts, typically a combination of checking and savings accounts. But our research finds this is the wrong strategy to encourage saving. We find that individuals are more likely to save if they have only one primary account, rather than many accounts.”
But a KU marketing researcher has a suggestion for people trying to spend less and save more: Consolidate your multiple bank accounts into one main account.
Chatterjee’s research utilized four separate studies totaling 566 participants. All four studies presented participants the opportunity to earn money across tasks and spend it on different products. The four studies collectively indicated a higher rate of saving among individuals who maintain one account versus those who have multiple accounts. The results appeared in the May 2013 edition of the journal Organizational Behavior and Human Decision Processes.
According to new research by assistant professor Promothesh Chatterjee, individuals will save more and spend less when they have a single account compared with multiple accounts. Chatterjee’s findings run counter to the conventional wisdom that people should spread their earnings across different accounts to increase their savings. Moreover, his findings have implications for policymakers trying to encourage saving among large populations of people. “For years, the conventional wisdom has been that spreading your money across various accounts encourages you to save,” Chatterjee said. “Nowadays, the average American
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According to Chatterjee, his findings can be explained by two often-cited theories of behavior – motivated reasoning and fuzzy-trace theory. Motivated reasoning implies that individuals find spending more enjoyable than saving and are motivated to search for reasons to justify spending. In such situations, vagueness enables them to distort available information to follow
desirable spending motives. Having multiple accounts provides that vagueness. “Basically, people look for an excuse to spend, and vague information facilitates this,” Chatterjee said. Of course, there are some individuals who are quite comfortable with their multiple accounts and would find it difficult or inconvenient to consolidate money into a single account. But even those individuals could benefit from Chatterjee’s findings. “ I f y o u ’ re re a l l y o p p o s e d t o consolidating, you can at least try to reduce the vagueness of having money across multiple accounts by utilizing software and services that provide a consolidated view of all of your accounts in one place,” Chatterjee said. This type of aggregate reporting could help reduce vagueness and enhance savings. “But the take-home message remains. Consolidating multiple accounts into one account will encourage you to save your hard-earned money.”
Experience Round Two The First-Year Experience thrived in its first year at the School of Business by exposing incoming students to the university and the business world.
After requesting more real-world experiences, students developed case studies for American Eagle with the help of their peer mentors during the spring semester. Two groups presented to the executives.
Last year, the school welcomed 190 freshmen and retained nearly 75 percent of those students who achieved the 3.0 GPA or higher requirement to continue in the school as sophomores in the Second-Year Experience, which will focus on tools for resumes, interviews and job searching.
“The case studies weren’t really even on our radar. It was really impressive,” Tosaka said. “They went above and beyond what we expected. We gave them little direction about what to do, but with the help of their peer mentors, they exceeded our expectations tremendously.”
For the upcoming academic year, the school will welcome 230 students for an elite introduction to the school with minor tweaks for a richer development of their soft skills in professionalism.
In addition to the case studies, the students also made company visits to Collective Brands, Country Club Bank, Huhtamaki and Perceptive Software.
“We designed this program with the resources and knowledge we had,” said academic advisor Shu Tosaka. “It really has potential to grow, especially with a new building, new resources and a bigger student body population.”
This fall, the program will divide the freshmen into 11 small sections for a more engaging and interactive experience instead of being clumped together in one large lecture. The program will also include more company visits and guest speakers, including young alumni.
Peer mentors are a huge asset to the First-Year Experience, serving as guides on how to balance between the new and exciting life of a college student and all the underlying responsibilities that follow.
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School celebrates Global Entrepreneurship Week In November, the School of Business hosted a day-long celebration of Global Entrepreneurship Week. Charlotte Tritch, the associate director of the school’s entrepreneurship program, organized the event, which was held in conjunction with the schools of journalism and engineering.
opportunity,” Tritch said. More than 300 students attended the event, which began with a panel discussion between local entrepreneurs, including Danny O’Neill, who founded the Kansas City coffee company The Roasterie; Nathan Jones, the founder and CEO of AgLocal, a mobile application that connects consumers to family-owned farms; and Bill Donovan, a KU aerospace engineering alumnus and current president of Pulse Aerospace.
“I wanted to expose a variety of students to entrepreneurship and get them excited about it as an
U.S. Senator Jerry Moran concluded the day with a discussion on entrepreneurship and public policy. Moran introduced the bipartisan Startup Act, which addresses issues hindering entrepreneurship in America, such as immigration laws and the tax code. “The event was a great way to emphasize the work he’s doing to generate more entrepreneurship in Kansas,” Tritch said. Senator Moran has been a long-outspoken advocate of entrepreneurship. “The story of America has really been a story of entrepreneurs,” he said while addressing the Senate floor in support of Global Entrepreneurship Week
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(LEFT) Students network with Kansas City-area entrepreneurial engines, including the Kauffman Foundation
(RIGHT) A panel discussion of area entrepreneurs
last November. “Entrepreneurs are found everywhere. In Kansas, we have a rich tradition of entrepreneurship. It is a place where innovators have felt free to pursue their ideas, start businesses and pursue dreams.”
“The story of America has really been a story of entrepreneurs.” More than 120 countries participate in Global Entrepreneurship Week, which was founded in 2007 and has since become one of the largest international celebrations of innovation and job creation. Notable supporters include former Secretary of State Hillary Clinton, Virgin Group founder Richard Branson and Dallas Mavericks owner Mark Cuban. Tritch planned a number of opportunities for students to interact directly with businesses and job creators. Attendees were treated to a networking lunch with entrepreneurs, faculty and alumni. Later in the day an entrepreneurship showcase was held, where
companies seeking young talent could meet with students. Tritch said it was important to help students understand entrepreneurship’s value in every field and organization, from the government to non-profits to tiny start-ups. “The entrepreneurial mindset doesn’t have to mean, ‘I’m gonna go start a business in my garage,’” Tritch said. “It could be that, but it’s about having the mindset to recognize opportunities and assess the feasibility of ideas. That’s what we’re trying to expose people to.”
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Big Data Two decision scientists leading new research center Prakash Shenoy Ronald G. Harper Distinguished Professor of Artificial Intelligence
Many companies are sitting on a wealth of data about their business and its clients, and when they need to make sense of it all, they turn to business analytics.
know who can help or what resources are available.
As the newest research center at University of Kansas, the business school’s Center for Business Analytics Research (CBAR) is reaching out to such companies to further their research, as well as provide practical solutions to their business problems. So when the American International Group (AIG) came to CBAR for advice, professors Prakash Shenoy and Steve Hillmer knew they could help.
Collaborating with businesses helps both parties, Shenoy said. It provides real-world examples for researchers to study, and the results can be used to improve the business’ practices.
The difficulty, Hillmer explained, is that those working in academics have research and tools to solve problems but don’t always know who may benefit from their work. On the other side, businesses have problems to tackle, but don’t always
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“There’s so much more data available than there used to be,” Hillmer said. “But it’s hard to know what the problems are until you get involved with them.”
“Otherwise, we could spend years and years working on problems that no one cares about,” Shenoy said.
Steve Hillmer Area Director Finance, Economics and Decision Sciences
find to answer the specific questions.” With the magnitude of academic research released each year, most of it is buried, stuck away on a shelf to be forgotten, Hillmer said. By working with partners like AIG, researchers know their work will be put to use. “In my years I’ve been in the business school, I think this is the most promising interaction we’ve ever seen,” Hillmer said. “I see this as a real opportunity for the School of Business and the business community. It’s new territory for both organizations.”
When AIG representatives visited the School of Business last winter, CBAR members started discussing a collaboration to help AIG with its big data, Hillmer said.
Beyond this project, Shenoy said, he sees partnerships like this one as the future for academic research. As the government continues to cut research grant funding, schools will have to find new ways to fund their work.
“Part of it is exploratory,” he said. “You’re trying to see patterns in the data. Another part is using what you
“I think, in the future, funding for research will be corporations,” Shenoy said.
Center for Business Analytics Research After only a year in existence, the KU Center for Business Analytics Research already has some impressive projects under its belt. Created to help businesses find solutions to their problems through quantitative research, CBAR brings together members of the business community with faculty and students to promote research, outreach and education in business analytics. Using data, statistics, operations research/management science and artificial intelligence, the center works to advance predictive models and datadriven management for decision making. Collaborating with business leaders allows the center to use real-life situations to study business analytics across diverse areas such as digital marketing and electronic commerce, prediction, customer behaviors and trends, decision making under uncertainty, managing demand and supply side uncertainties and revenue management. Some of the center’s projects have ranged from classifying tweets as likely to be re-tweeted or not, to developing software for constructing and deploying expert systems for missile defense.
Governor sheds light on
new tax policy Gov. Sam Brownback’s tax plan made big news last year, and he used the business school’s annual Chandler Lecture in September as an opportunity to discuss it in depth. KU business alumnus Anderson Chandler started the lecture series in 1997, and he chose Brownback as last year’s guest to discuss the state of the economy, he said. “We felt that he had a good rapport with the people of Kansas and the University of Kansas,” Anderson Chandler said. “It was well attended, and I felt he was well received.” As a graduate of University of Kansas School of Law and a politician ingrained with Kansas pride, Brownback was perfect for the lecture, Chandler added. Brownback started his political career in Congress in 1994 as head of the New Federalist, a group promoting smaller federal government and a
balanced budget. A couple of years later, Brownback was elected to the U.S. Senate seat where he served on the Agriculture Appropriations Subcommittee. After taking office as Kansas governor in 2011, he has focused on improving the state’s economy, as well as reforming state government. Other Chandler Lecture speakers include financial journalist Andrew Ross Sorkin; Thomas Hoenig, former president and CEO of the Federal Reserve Bank of Kansas City; Sheila Bair, KU alumna and former FDIC chairwoman; and Alan Mulally, president and CEO of Ford Motor Co. In addition to starting the lecture series, Chandler, who is currently chairman and CEO of Fidelity State Bank and Trust Co. of Topeka, established the Anderson W. Chandler Teaching Professorship in Business in 2000 to encourage excellence in teaching. He was also one of the first alumni honored with the School of Business Distinguished Alumni Award in 1998.
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Executives bring wealth of experience to lecture series The School of Business welcomes speakers from all over the country, and this year, as part of the Dean’s Executive Lecture Series, three CEOs spoke to business students. They shared invaluable knowledge about personal accountability, making difficult decisions and leading a company into the future.
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In October, president and CEO of Turner Entertainment, Steve Koonin, presented, “Creativity: Why Good Ideas Matter Even More.” During the lecture, he talked about how to overcome challenging times and strive for longterm success in an increasingly technology-lead world. “People used to plop down in front of the TV and watch. Then came the VCR and recording, and now there is online streaming,” Koonin said. “Creativity is the currency for the future.”
(ABOVE) Dean Bendapudi presents AIG CEO Bob Benmosche with a personalized KU basketball jersey
(RIGHT) Kroger Co. CEO and KU alumnus Dave Dillon meets with business undergraduates
Bob Benmosche, CEO of American International Group (AIG), spoke in Mark Haug’s class in January. In his lecture, “AIG Success Story,” he addressed problems that business professionals may face. He also shared how AIG paid back the U.S. government for its part of the bailout package. “I think that topic is extremely relevant to the business school,” Haug said. “We need speakers, like Robert Benmosche, who are going to be of substance and integrity and aren’t afraid to call it like they see it.”
“You either change to become better or you go backwards, lose ground and eventually, go out of business.” “I learned there are good leaders out there,” Haug said, “who are not afraid to step up, take responsibility for what they do and also appreciate a duty beyond themselves.”
In April, Dave Dillon, CEO of The Kroger Co., presented a lecture about the history of Kroger and the process of revamping an organization. “You either change to become better or you go backwards, lose ground and eventually, go out of business,” Dillon said. It’s not just students who learn from great speakers, but faculty and staff as well. Haug said he liked Benmosche because he didn’t pull any punches and he’s very big on personal and professional accountability.
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Faculty members recognized for
Excellence in teaching (ABOVE) Joe Walden (BELOW) Susan Scholz
Lecturer Paul Mason talks forensic accounting with his undergraduate students
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In addition to recognizing the achievements of students, alumni and staff, the School of Business this year honored five faculty members for their success in teaching.
conversation when colleagues from other universities complain about their students.
Joe Walden, lecturer of decision sciences and supply chain management, received the Undergraduate Business Council Outstanding Educator Award.
The other teaching award winners are Paul Mason, lecturer in forensic a c c o u n t i n g , w h o re c e i v e d t h e Graduate Business Council MBA Outstanding Professor Award. Greg Freix, director of master of science in business supply chain management and logistics, received the Henry A. Bubb Award for Outstanding Teaching, as did Suman Mallik, associate professor of supply chain management.
“It is always my goal to make sure I do not let the students down in their search for knowledge,” Walden said. “The fact that the award winner was decided by the students means I have been able to positively impact their education, and hopefully their lives, in some way during our time together.” Susan Scholz, associate professor in accounting and information systems, received the Beta Gamma Sigma Outstanding Educator Award and the Gordon Fitch Faculty Service Award. Like Walden, she appreciates KU business students, and said one of her favorite things about teaching at Kansas is that she can’t add to the
“If top students appreciate your efforts, it is some evidence you are doing something right,” she said. “That is very energizing.”
Teaching others is only part of the job, however. These educators continue to learn and strive for continual improvement of their teaching methods. Scholz said that one of the best attributes of a good teacher is, “knowing that no matter what, you could have done it better and must improve on the next class.”
Hunting for insider trading? Ask the 10-year-old A new study from KU finance professor Paul Koch and two other social scientists says that kids might be savvier stock market traders than we thought—either that, or parents are using their accounts for insider trading. Alongside Henk Berkman from the University of Auckland, New Zealand and Joakim Westerholm from the University of Sydney, Koch delved into the trades of nearly half a million stock market accounts on the NASDAQ OMX Helsinki Exchange. They discovered a surprising trend that might help future investigators pinpoint insider trading: accounts owned by children less than 10 years old trade in the right direction before major takeover announcements 72 percent of the time. That’s 12 percent more than your average investor, who tends to make the right trades about half of the time. The wealth of data available through the Finnish exchange allowed the researchers to make insights that have been previously impossible.
There, each stock purchase or sale is tied to a government-registered account, which contains demographic information, including age, location and nationality. Originally, Koch and the other researchers focused on location, intending to examine whether investors who live near the companies they trade do better or worse after earnings announcements. But when a curious pattern emerged, they worked with the Finnish government to identify account holders with the same last name, while maintaining the anonymity of each account holder. “Once we had all this rich data, we were able to be creative and use our intellectual curiosity to ask all kinds of fun and interesting questions,” Koch said. “That ultimately led to our discovery.” After examining the data, the researchers discovered that the accounts of children younger than 10 outperformed all other age groups. It’s not that younger children are more prescient — instead, their accounts were likely used for insider trading by their guardians, hesitant
to use their own accounts for fear of sanctions. Media outlets like The Globe and Mail, National Public Radio and Canadian Broadcasting Corporation News have reported on Koch’s surprising conclusion. Koch focused on trades made the day before takeover announcements, when an account holder’s decision to buy or sell could indicate insider knowledge. After analyzing the data, the results were clear: While the parents’ accounts performed slightly above average, accounts held by children younger than 10 blew all the others out of the water. But still, Koch says there can be other explanations: these investors “likely have more wealth to bestow on their children, and are possibly well-connected and well-informed in a manner that enables them to make wise investment decisions.” In short, they might just be smarter than other investors—but the study’s conclusion, Koch agrees, is still quite curious.
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Insurance giant brings
national debt conversation
(LEFT TO RIGHT) Lecturer Bill Lewis, alumnus Kurt Watson, Travelers Institute’s Joan Woodward, alumna Jill Docking, Dean Bendapudi, finance professor Bob DeYoung
The School of Business, in conjuction with the Travelers Institute, hosted a symposium on the national debt last November. The KU School of Business was one of 20 business schools nationwide that were selected to participate in the institute’s University Symposia Series, alongside peers such as the University of Pennsylvania and Northwestern University. Attendees watched a screening of the documentary film “Overdraft,” which featured interviews with national leaders like President Bill Clinton, Newark, N.J., Mayor Cory Booker and former Senator and New Hampshire Governor Judd Gregg in an examination of the country’s soaring national debt. “If we don’t begin to attack the deficit, it really puts our country in jeopardy,” said Kurt Watson, the president and chief operating officer of Wichita-based IMA Financial Group, one of the largest independently-owned insurance brokerage companies in the United States. He is also chair emeritus of the KU Endowment Association and organized the symposium alongside lecturer Bill Lewis, who teaches personal finance at the university. “I think that the documentary does a terrific job of showing how important the growing federal deficit is to all of is, in a very non-partisan way,” Watson said. The hour-long documentary produced by Travelers Institute argues that without further intervention federal
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spending will rise $1 trillion in the next seven years, a debt burden so heavy it may risk America’s international standing and financial credibility. Several methods of curbing the debt are explored in the film, which Travelers Institute hopes will spur debate on college campuses among the very students who, 20 years from now, will be tasked with solving the problem. Lewis said he hopes some of the lessons he teaches in his personal finance courses will help students understand the magnitude of the situation. “It’s the same for the government as it is for an individual,” he said. “Have a budget, stick with your budget and plan ahead. The government’s personal finance is not a whole lot different than for an individual.” The event attracted more than 300 students. A panel discussion was held after the screening, which Watson participated in alongside Joan Woodward, the executive vice president of Travelers Institute; Jill Docking, a KU alumna and financial advisor for Wells Fargo; and Bob DeYoung, director of the school’s Center for Banking Excellence. “The panelists did a tremendous job in giving different and interesting insights into the problem,” Lewis said. Students asked questions about how their generation could create economic growth, and panelists outlined possible monetary and fiscal solutions while encouraging the attendees to help build a stronger economy. “I think people left there thinking, ‘Wow, this is a huge issue for the future of our country,’” Watson said.
loan default rates lower in rural communities It’s often said there are no secrets in a small town. But if the “everyone knows everyone” aspect of small towns has its drawbacks, it may also have a clear upside: wellinformed financial transactions. According to new research by School of Business professor Bob DeYoung, small business loans originated by rural banks default much less frequently than loans originated by urban banks. More specifically, default rates are lowest for the most rural banks, in the most rural communities, and for banks that are located nearest to their customers. In other words, as “ruralness” increases, so does the success rate of bank loans. DeYoung concludes that this is because rural banks have more access to so-called “soft information” and personal relationships with customers than do urban banks, and because rural communities have higher levels of social capital – i.e. trust, shared networks and cultural similarities – than urban communities. Together, soft information and social capital overcome the fact that there often isn’t much hard data on small-business borrowers in rural communities. “Everyone knows everyone in a small town,” DeYoung said, “and that leads to well-informed lending agreements between rural banks and rural businesses. The more rural a bank and community, and the closer the bank is to the customer, the more likely the loan agreement will be successful. Why? Because personal relationships and local expertise matter, and those things can overcome the lack of hard information a lender might have about a small-business client.” As DeYoung explains, commercial banks have always relied
on both hard and soft information in deciding whether to make a business loan. But in rural communities, hard data about borrower creditworthiness can be hard to come by. For example, small rural businesses are less likely to have audited financial statements, which reduces the amount of hard data about their creditworthiness. Additionally, the resale market for fixed investments and specialized assets is thin, which makes it difficult to know the value of seized collateral in the case of loan default. But while hard information is lacking in rural communities, DeYoung says, soft information and social capital are not. DeYoung uses data on 18,000 U.S. Small Business Administration loans originated between 1984 and 2001. These data provide a good test of the value of soft information and lending relationships because SBA borrowers tend to be smaller, younger and more credit-challenged than other small businesses, and because loans during this time period were originated largely before the advent of small business credit scoring and securitization. DeYoung’s findings help answer the question that has perplexed observers for years: How do rural banks continue to exist when decades-old trends in banking consolidation and urbanization suggest these banks should be disappearing? “There are two major trends that you’d think would mean the death of rural banks,” DeYoung said. “First, the banking industry continues to consolidate. Second, rural economies continue to become smaller and more volatile. And on top of this, nearly all rural banks operate below minimum efficient scale. So based on these factors, you’d think that rural banks would be closing their doors, right? But that’s not the case. In fact, 59 percent of remaining banks are located in rural counties, places that account for only 21 percent of the U.S. population. Our findings help explain why.”
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Global learning Supply chain students study abroad in Panama In May, supply chain management lecturer Roger Woody took 15 students on a 10-day study abroad trip to Panama. Students visited ports along the Panama Canal including highlysecured areas in the country’s free-trade zone, one of the world’s largest, used to import supplies for Topeka-based Payless ShoeSource.
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“They got to see firsthand what we talk about in the classroom,” Woody said. The idea for the trip came because of a visit from KU alumnus Antonio Dominguez, a Panamanian native. Dominguez, who is currently the customer service director for Maersk Line, the world’s largest ocean cargo carrier, visited Lawrence last summer. “I didn’t meet him then but I learned of his visit and made contact with him. Once I talked to Antonio, I realized there would be so much going on for the students to see,” Woody said. He and Dominguez, alongside lecturer Joe Walden, planned the trip. They scheduled stops at the ship terminals on either end of the Canal, the U.S. Embassy and historical areas of the country, including an indigenous village.
“It was truly a once in a lifetime experience that I would not trade for anything,” said supply chain management student Elizabeth Waters.“Being able to visit so many corporations, and seeing the way they work with our own eyes really brought the knowledge we have learned in the KU School of Business full circle.” Bolstered by an improving economy, Woody said the supply chain management field has become an increasingly popular choice for students. “Everything you have has, at some point in time, been a part of the supply chain,” he says. But with the economic conditions of the past four to five years, businesses have struggled with planning their processes for efficient global expansion. That’s where efficient supply chain
management can mean the difference between a profit and a loss. “It’s hard to know how much to make, or what to make, or even where to make it. How do you be efficient? How do you do business quickly, and how do you do it in a complex global business environment where you’re sourcing things worldwide?” he asked.
“standing at the port, watching the ships dock, was one of the most powerful moments of the trip.” Both Woody and Walden said standing at the port, watching the ships dock, was one of the most powerful moments of the trip. “We can talk about the size of the ships and the size of the canal and distribution centers, but for them to actually see it—it’s like, ‘Oh! That’s what you were talking about. That’s what it meant’,” Walden said.
Ut eiur auta abore, cone conseque venesci eturit ut fugit, toressi volupturesed et,
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School hosts international business conference on For the business school’s inaugural international business conference, professor Tailan Chi organized “China Emerged: Rethinking Your Global Strategy,” a day-long conference held last March. The conference addressed business practices and theories for understanding China’s changing social, political and economic standing. “Companies have to develop a strategy to deal with the influence of China,” Chi said. “No longer is it a traditional emerging economy.” After decades as the global go-to source for inexpensive manufacturing, China is now enjoying an economic boost, with better-educated workers demanding higher pay and more challenging work. The literacy rate for 15- to 25-year-olds is approaching 99 percent, and American companies can no longer rely on the country for cheap production. China’s shift from low-cost manufacturing to a knowledge-based economy means companies in the U.S. that have long relied on its labor force are now rethinking their Chinese business strategies. “A lot of companies liked China for the low cost of production. Now costs are higher, and they cannot use the same strategies as before,” Chi said. “It can be daunting for businesses that don’t have a deep understanding of the country.”
30 dean’s report international business
China The conference’s keynote speaker was Stephen Chipman, the chief executive officer of Grant Thornton LLC, the U.S. division of the international audit, tax and advisory firm.
“One of the things that has amazed me in my own experience with China over the last 20 years is the speed of change,” he said in his address. Before becoming the U.S. CEO, Chipman served two years as the chief executive of its Chinese division, where he oversaw national growth and development. Recently, the Grant Thornton Beijing office has grown to be the company’s largest office worldwide. Chi says he’s seen interest in China increase locally, from greater enrollment in Chinese language classes at KU to higher enrollment rates for Chinese study abroad programs. Members of the local business community participated in a roundtable discussion, including Jeff Gentry, the CEO of Wichita-based company Invista, which manufactures synthetic fibers in Shanghai, and Gerry Lopez, CEO and president of Kansas City’s AMC Theatres, which is owned by China’s Wanda Group. The conference also discussed topics such as China’s expanding role in developing economies, the sustainability of the changing political, economic and social systems and new and innovating business practices for firms looking to do business in the new China.
Supply-side economist talks
public policy With such a large part of the 2012 presidential election focused on the economy, the timing was great for the School of Business to welcome Arthur Laffer to the University of Kansas. On Oct. 11 Laffer, commonly known as the “father of supplyside economics,” spoke at the Kansas Union.
Laffer touched on a number of economic topics including stimulus spending, income disparity in the U.S. and the economic plans of the two presidential candidates. “If you look at the election today, whether it’s in the states or whether it’s at the federal level,” Laffer said, “you have to see just how polarized economics is in the two parties. I think it’s wonderful that you have this type of polarization because if you don’t have that, your vote doesn’t matter.” Laffer also spoke about his five keys to economic prosperity: spending restraint, a sound currency, free trade, minimal regulations and a low-rate, flat tax. “Laffer’s ideas matter,” said School of Business alumnus Tony Batman, “and this lecture helps the KU School of Business be on the world stage.”
Tony Batman is the chief executive officer of 1st Global, Inc., a research and consulting firm in Dallas. He also serves on the board of advisors to the KU School of Business and the Accounting and Information Systems program. During a conversation with School of Business Dean Neeli Bendapudi, Batman said, he offered to financially underwrite the lecture by Laffer, who serves on the 1st Global board of directors. “My belief is that the highest purpose of both business and higher education are completely aligned. That is, to make people’s lives better,” Batman said. “I think this is the right kind of experience for the University of Kansas and for the greater Kansas City area business community.” Along with 1st Global, the lecture was sponsored by the KU School of Business and the Fred and Mary Koch Foundation.
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Dean’s Board of Advisors 2012 – 2013 Dana K. Anderson Vice Chairman of the Board The Macerich Company Tim Barton Chairman/CEO Freightquote
Fred N. Coulson IV Managing Partner Five Elms Capital Mgmt.
William W. Hanna* President and Vice Chairman Koch Industries (ret.)
Tim A. Crown President AZ Crown Investments
Eric Hansen Partner Payne & Jones Chartered
Tony Batman President/CEO 1st Global, Inc.
Dan Crumb CFO Kansas City Chiefs
George E. Hansen, III Principal HCI Management
Wayne J. Boeckman* President WJB Holdings, LP
Cathy S. Curless* Retired CIO Payless Shoe Source Lecturer, Strategic Management The University of Kansas
Tom Hardy Chairman, President & CEO Unity Financial Life Insurance Company
Dan P. Bolen Co-Chairman and CEO Bank of Prairie Village Derek Bridges President, ExamFX Ascend Learning Mary Brownback First Lady of Kansas Anderson W. Chandler* Chairman/CEO The Fidelity State Bank & Trust Co. Marnie Clawson* President Clawson Benefits Concepts Howard Cohen* Partner-in-Charge Assurance and Enterprise Risk Services Deloitte Carolyn M. Coleman Director of Federal Regulations National League of Cities Scott Coons President/CEO Perceptive Software
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Roger W. Davis Owner and CEO Paxton/Patterson LLC John C. Dicus Chairman Emeritus Capitol Federal Savings and Loan Association David B. Dillon Chairman and CEO The Kroger Co. Yale T. Dolginow President and CEO ÉlanStrategic, LLC Steven R. Dykeman Managing Director Sagent Advisors, LLC Doug Gaumer President Intrust Bank Jeff Gentry* CEO Invista Donald J. Hall, Jr. President and CEO Hallmark Cards, Inc.
Justin Healy Chief Financial Officer Wichita Community Foundation Jim Huntington CEO (ret.) Bushnell Sports Optics Jeff M. Johnson President Flint Hills National Golf Club Robert S. Kaplan Professor, Mgmt. Practices Harvard University Co-Chairman Draper Richards Kaplan Foundation Ed Kuklenski Executive Chairman Suture Express, Inc. John Kyees Fmr. Chief Investor Relations/CFO Urban Outfitters Steve Larsen First Vice President HSBC Bank Mike Maddox Chairman of the Board President & CEO Cross First Bank
James R. Majerle* Founding Member Extol Capital Strategies, LLC
Winifred Pinet President and Founder Sycamore Associates LLC
Kent McCarthy KCM Capital Inc.
E. S. Riss (Ned) Chairman and CEO Lakeshore Pacific Corp.
Jason (Jay) M. Meschke* President EFL Associates, Inc. M.D. Michaelis President and CEO Emprise Bank Larry Miller Chief Financial Officer E.E. Newcomer Enterprises, Inc. Brian Moore Development Director KU Endowment Assoc. Jeffrey Morrison CFO CritiTech, Inc. David L. Murfin* President Murfin Drilling Company, Inc. Deborah Kobe Norris* Partner Bullseye Database Marketing, Inc.
Joanna L. Rupp Chief Operating Officer, Office of Investments The University of Chicago
Rene’ Street Executive Director American Business Women’s Association Robert D. Taylor* Chairman & CEO Executive AirShare William B. Taylor* Partner Ernst and Young (ret.)
Kacy Schmidt Development Officer KU Endowment Association
John M. Thompson (Mike) Principal Liberty Consulting
James C. Shay Senior VP Kansas City Power & Light
Janice B. Toebben Senior Vice President Wealth Management Advisor U.S. Bank
Margo Warhola Shepard* Senior Vice President, Investments Wells Fargo Advisors, LLC Mike Shonka* Executive Vice President/CFO Cessna Aircraft Company (ret.) Doug Sterbenz Executive Vice President/COO Westar Energy
Diane L. Yetter Vice-Chair of the Board President YETTER - Tax Meets Technology Sales Tax Institute *Executive Committee Members
Lindsay Olsen President Mortgage Investment Trust Corp William R. Patterson President Stonecreek Management, LLC Charles W. Peffer Partner KPMG, LLP (ret.) John E. Peppercorn President (ret.) Chevron Chemical Co.
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donor recognition The KU School of Business is grateful for the generous support of its alumni, friends and corporate sponsors. Recognition of their generosity can be found at business.ku.edu. Thank you for your financial contributions during the period of July 1, 2012, through June 30, 2013. Your support makes a difference at the School of Business.
professorships and fellowships Faculty Professorships
George Bittlingmayer Wagnon Distinguished Professor of Finance & Harold Otto Chair of Economics
Vince Barker Scupin Faculty Fellow
Neeli Bendapudi Henry D. Price Distinguished Professor of Business
Bob DeYoung Capitol Federal Professor in Financial Markets and Institutions Allen Ford Larry D. Horner / KPMG Peat Marwick Teaching Professor of Professional Accounting
Chris Anderson Anderson Chandler Fellowship in Business
Tailan Chi Scupin Faculty Fellow Kissan Joseph Stockton Faculty Fellow Susan Scholz Harper Faculty Fellow
Dennis Karney Ned N. Fleming Teaching Professor
John Sweeney Deloitte & Touche Faculty Fellow
Paul Koch O. Maurice Joy Professor in Business
Scott Whisenant Fred Ball Faculty Fellow in Business
Laura Poppo Edmund P. Learned Professorship in Business
Tim Shaftel Jordan Haines Teaching Professor in Business Prakash Shenoy Ronald G. Harper Distinguished Professor of Artificial Intelligence Rajendra Srivastava Ernst & Young Professorship Koleman Strumpf Koch Professor of Business Economics
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Mark Haug School of Business Teaching Fellow Kelly Welch School of Business Teaching Fellow
academic administration Neeli Bendapudi
H.D. Price Dean, Professor of Business
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dean’s report 35
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The annually published Dean's Report is a year in review of news, events, research, among other topics, at the University of Kansas School o...