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WashU PhD


At Olin Business School, thinking becomes an art of discipline and a devoted process. Students become research-savvy and skilled contributors. Smart ideas become proprietary knowledge through a dedication to academic research and teaching. It’s a collaboration and mentoring of faculty and students, smart like few others.

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Relevance and rigor are the hallmarks of Olin’s programs. That translates into a distinctive reputation for Olin’s PhD graduates, whichever of the seven PhD degrees you pursue. You will master analytical and critical-thinking skills that enable you to solve complex, unstructured business problems.

“The Olin point of difference is to offer the top program of choice for the best, the brightest PhD candidates, and select universities seeking to hire new faculty.” — Anjan Thakor Director of Doctoral Programs, Director of WFA- CFAR, and John E. Simon Professor of Finance

Olin’s business PhD program ensures you: •

An intellectually challenging core curriculum

Strong grounding in basic disciplines

An energized, research-driven culture of excellence

A collegial network built upon mutual respect and a community of critical thinkers

A competitive edge in the business education market

 ollaborative relationships between faculty and students to enhance the education C experience and ultimate search for your first faculty appointment

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The Olin Experience Research productivity flourishes at Olin. In fact, Olin is consistently ranked among the most prolific institutions in the business school community. Our faculty members are committed to excellence in teaching and are recognized the world over for their important contributions in the creation of new knowledge. PhD students and faculty partner in a rigorous academic program in one of seven areas of specialization: Accounting

Marketing

Business Economics

Operations and Manufacturing Management

Finance

Organizational Behavior Strategy

735 325

average GMAT score for enrolled students in fall 2016

average GRE score for enrolled students in fall 2016

59

average total number of students

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Curriculum As an Olin PhD student, your coursework will be individualized. Personalized advising and customized course selection allow you to match your studies to fit your particular goals and interests. In all cases, flexible learning combines with independence in study. You’ll master both analytical and critical-thinking skills, and students with advanced standing have opportunities to teach independently.

72

Completion of the degree requires 72 graduate credit hours of coursework, along with the preparation and oral defense of a dissertation. Although each area has specific degree requirements, all PhD students are required to be proficient in the following areas:

required credit hours

Core Foundation •

 strong foundation in microeconomics or A psychology, along with an understanding of probability/statistics and quantitative methods

 xposure to your area of specialization and the E required research tools

Successful completion of core exam

Specialization •

Coursework in one or more areas of study

In-depth knowledge in your chosen field

 ctive association with the research process A through faculty mentoring

Completion of the field exam(s)

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Research •

 ollaboration with faculty in C research activities

 resentation of well-developed P research papers

Individual research pursuing a specialized topic of interest

 evelopment and defense of D your dissertation


Research Projects As a PhD student, you’ll support ongoing research and collaborate with faculty, employing state-ofthe-art analytical and/or empirical methods to address substantive questions. In addition, you’ll be exposed to leading researchers from around the world at select conferences, seminars, and workshops. Upon advisor recommendations, PhD students are provided with funding for travel to attend conferences and academic meetings.

Teaching Skills Olin emphasizes strong teaching skills—for our faculty and our PhD students. As a part of your Olin experience, you’ll gain valuable insight into successful teaching methods and practices: •

 articipate in presentation skills workshops, P with emphasis on communication techniques and effective teaching methods

 ain classroom teaching experience through G teaching assistantships (beginning in the second year of the program)

 ngage in opportunities to teach E independently (if and when students with advanced standing are deemed ready)

Renowned Faculty Olin faculty members are thought leaders whose research is on the leading edge of business thinking. All Olin faculty members are research-active and teach on a regular basis. They present, publish, and serve on editorial boards, thus fostering the crossfertilization of knowledge and continual innovation in business research.

experience is mutually beneficial, with faculty members gaining new perspectives and valuable insights, while students hone the research skills necessary to be successful academics.

Olin’s innovative research centers cultivate dynamic interaction between academia and industry to produce new knowledge and advance understanding of firms and markets around the world. Olin faculty and PhD students regularly collaborate and cowrite research featured in top academic journals, learning and growing together from project inception through article revision and publication. This collaborative WashU PhD | 7


Student Placement Recent placements of Olin PhD students include: • Cornell University • Georgia State University • Indian School of Business • National University of Singapore • New York University, Shanghai

• University of Alberta • University of British Columbia • University of Maryland • University of Notre Dame • University of Texas at Austin

Job Placements

Average Business School Salaries

80%

BSBA graduate* $61,000 MBA graduate* $100,000

in tenure track positions

Assistant Professor** $126,000 Associate Professor** $128,700

10% in other academic positions

Professor** $161,800

10% in industry

* USD annually, average starting salary for WashU graduates, September 2015 **USD annually, average earnings according to AACSB Global Salary Survey, January 2016

Mentoring At Olin, a collegial network is built on mutual respect and shared schools of thought. You’ll be guided by Olin’s highly productive faculty members, some of the nation’s top scholars in business and management research. These one-on-one mentoring relationships are formed early and help you hone research skills. Upon graduation, many students will have cowritten publications with faculty, who become mentors, colleagues, and collaborators. 8 | olin.wustl.edu/phd

“For me, Olin has been an extensive framework of learning opportunities and a platform to nurture my appetite for research. A small program like ours is an ideal place to gain insights and be inspired by the opportunity of learning from one another.” – Johan Maharjan, PhD 2015


Environment Olin welcomes students from around the globe with friendliness, support, and a sense of belonging. This community atmosphere extends to all of Washington University, where Olin students study alongside other students pursuing graduate degrees in art, architecture, engineering, physics, social work, and many more fields. As an Olin student, you’ll have a supportive community of classmates, faculty, and staff. You’ll also have access to additional assistance to help you learn and develop, including the University’s Teaching Center and the Liberman Graduate Center. These resources are in place to help you achieve the greatest success possible during your studies.

STL

Located in the heart of the Midwest, St. Louis represents the WashU culture on a larger scale. Its diverse, close-knit community and culture mean there’s always something to do and someone to do it with.

St. Louis is home to many free attractions, including: • Saint Louis Art Museum • Saint Louis Science Center • Saint Louis Zoo The city is also bustling with restaurants, art galleries, concerts, parks, sporting events, and cultural centers.

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Financial Support All applicants are automatically considered for Olin-provided financial support; no separate application is required. In addition to the annual stipend, Olin provides funding for the presentation of papers at conferences, and for expenses associated with the completion of theses and job searches.

All enrolled students on scholarship making satisfactory progress in the program are guaranteed financial support for five years. This includes full tuition remission, plus a stipend for living expenses distributed over 12 months.

Admissions A successful academic background, research aptitude, intellectual curiosity, skills acquired in the basic disciplines (particularly economics, psychology, math, and statistics), passion for a chosen field, and an uncompromising work ethic are necessary for successful and timely completion of our program. Applicants are evaluated on the strength and breadth of academic background, experience, ability to research, and aptitude. To be considered for admission, you will need to submit a completed online application, the application fee, letters of recommendation, transcripts, and exam results. International students who do not possess a degree from an American university are required to submit copies of their TOEFL or IELTS scores. Students are admitted to the program for the fall semester only. Application deadlines and document submission instructions are 10 | olin.wustl.edu/phd

available on our website (olin.wustl.edu/phd). Late applications or applications with late supporting documentation will not be considered. Washington University encourages and gives full consideration to all applicants for admission, financial aid, and employment. The University does not discriminate regarding access to, or treatment or employment in, its programs and activities on the basis of race, color, age, religion, sex, sexual orientation, gender identity or expression, national origin, veteran status, disability, or genetic information. Applicants with a prior criminal history will not be automatically disqualified from consideration for admission. Inquiries about compliance should be directed to the Vice Chancellor for Human Resources, Washington University, Campus Box 1184, One Brookings Drive, St. Louis, MO 63130-4899.


WashU PhD


Learn more Washington University in St. Louis Olin Business School Campus Box 1133 1 Brookings Drive St. Louis, MO 63130-4899 Phone: (314) 935-6340 Fax: (314) 935-9484 phdinfo@wustl.edu To learn more or apply to the Olin PhD program, visit olin.wustl.edu/phd.


PhD in Accounting

WashU PhD

“The Olin PhD program helps exceptional students foster scholarly thinking and build research skills.” —Richard Frankel, Beverly and James Hance Professor of Accounting

Olin Business School’s Accounting program focuses on infusing students with a broad base of knowledge, and the necessary research skills to enjoy robust careers as university educators and researchers. This rigorous training is crucial to entering the highly competitive field as an accounting faculty member at a top research university. In this program, you’ll study issues in two areas: the role of financial information in facilitating the operations of capital markets, and assistance for managers planning and controlling the way institutions operate. The Wells Fargo Advisors Center for Finance and Accounting Research (WFA-CFAR) is dedicated to the dissemination of research in finance and accounting that brings to light cutting-edge thinking, and helps solve the unique needs and challenges of business. The center brings an important focus on finance and accounting issues through the creative design of Olin courses, groundbreaking research papers and white papers, top-tier academic conferences, and custom member projects. These corporate projects are teamed by PhD and other Olin students, working closely with Olin faculty. Students strive to solve current challenges and position the organization for the future.

Collaborative Research—Accounting Faculty and PhD Students Working Papers: • Chapman, K., Kaplan, Z., Potter, C.* When Do Investors Infer Bad News from No News? Evidence from the Strategic Disclosure of Book-to-Bill. • Jennings, J., Frankel, R., Lee, J.* (in press). Using Unstructured and Qualitative Disclosures to Explain Accruals. Journal of Accounting and Economics Conference. • Jennings, J., Lee, J.*, Matsumoto, D. The Effect of the Firm’s Location on Its Information Environment. The Accounting Review. • Jennings, J., Seo, H.*, Solimon, M. The Market’s Reaction to Changes in Performance Ranking. The Accounting Review. • Jennings, J., Seo, H.*, Tanlu, L. The Effect of Organizational Complexity on Earnings Forecasting Behavior. Published Papers: • Frankel, R., Donovan, J.*, Martin, X. (in press). Accounting Conservatism and Creditor Recovery Rates. The Accounting Review, 90, 2267-2303. • Frankel, R., Donovan, J.*, Lee, J.*, Martin, X., Seo, H.* (in press). Issues Raised by Studying DeFond and Zhang: What Should Audit Researchers Do? Journal of Accounting and Economics, 58(2-3), 327-338. • Martin, X., Gormley, T., Kim, B.H.* (2012). Do Firms Adjust Their Timely Loss Recognition in Response to Changes in the Banking Industry. Journal of Accounting Research, 50(1), 159-196.

*Indicates current or former student


Accounting Faculty Kimball Chapman Assistant Professor of Accounting PhD, The Pennsylvania State University Research interests: voluntary disclosure, earnings announcements, investor relations Richard Frankel Beverly and James Hance Professor of Accounting PhD, Stanford University Research interests: accounting-based valuation, voluntary disclosure Mahendra Gupta Former Dean and Geraldine J. and Robert L. Virgil Professor of Accounting and Management PhD, Stanford University Research interests: managerial accounting, strategic cost management and control Chad Ham Assistant Professor of Accounting PhD, University of Maryland Research interests: financial accounting, corporate governance, litigation, manager traits Jared Jennings Assistant Professor of Accounting PhD, University of Washington Research interests: information asymmetry, voluntary disclosure, sell-side analysts Zachary Kaplan Assistant Professor of Accounting PhD, University of Chicago Research interests: managerial disclosure strategy, analyst forecast strategy, earnings expectations Ron King Myron Northrop Professor of Accounting and Director of the Center for Experiential Learning PhD, The University of Arizona Research interests: business law and economics, auditing, experimental economics Kevin Koharki Assistant Professor of Accounting PhD, The Pennsylvania State University Research interests: credit rating agencies, off-balance sheet financing, financial institutions Zawadi Lemayian Assistant Professor of Accounting PhD, Massachusetts Institute of Technology Research interests: fixed income markets, taxation, banking, disclosure Xiumin Martin Associate Professor of Accounting PhD, University of Missouri-Columbia Research interests: financial accounting, voluntary disclosure, accounting information in assets valuation


PhD in Business Economics

WashU PhD

“Students in Olin’s PhD program receive an unparalleled amount of personalized attention. This experience strengthens and accelerates the start of their research careers.” —Stephen P. Ryan, Professor of Economics

Olin’s PhD program in Business Economics prepares you for an academic career in economics with rigorous training grounded in the central areas of the field. You’ll have opportunities for cross-disciplinary work, combining economics with strategy, finance, or marketing. Student success is fostered by the faculty’s active interest in supporting student learning, along with advising and supervising overall research efforts to help students realize their full potential. Olin Business Economics faculty members have a special interest in empirical and theoretical industrial organization. Research pursuits cover a wide range of subjects, including industry studies, incentives in organizations, organizational design, health economics, and the determinants of industry structure. The Center for Research in Economics and Strategy (CRES) advances the understanding of firms and markets by supporting scientific research employing state-of-the-art analytical and empirical methods. Intended for publication in top-tier academic journals, CRES-sponsored research addresses substantive questions in many areas of economics and strategy. In addition to research assistance, which includes PhD student funding and data collection, CRES supports frequent presentations of internal and external research, national and international short-term visitors, CRES Fellows, and a website that includes extensive research listings.

Collaborative Research—Business Economics Faculty and PhD Students Working Papers: • Cooper, R.*, Hamilton, B. Who Shows Whom the Money? The Effects of Social and Human Capital on Negotiating Agent Performance. • Zeng, X.*, Chib, S. Bayesian Strategy for Improved Forecasts of the Equity Premium.

*Indicates current or former student


Business Economics Faculty Mariagiovanna Baccara Associate Professor of Economics PhD, Princeton University Research interests: innovation and intellectual property rights, organized crime, matching, social networks Siddhartha Chib Harry C. Hartkopf Professor of Econometrics and Statistics PhD, University of California-Santa Barbara Research interests: Bayesian statistics and econometrics, Markov chain Monte Carlo methods Joseph Cullen Assistant Professor of Economics PhD, The University of Arizona Research interests: environmental regulation, energy markets, dynamics Ignacio Esponda Assistant Professor of Economics PhD, Stanford University Research interests: microeconomic theory, industrial organization, political economy, experimental economics Daniel Gottlieb Assistant Professor of Economics PhD, Massachusetts Institute of Technology Research interests: contract theory, behavioral economics, insurance Barton H. Hamilton Robert Brookings Smith Distinguished Professor of Entrepreneurship PhD, Stanford University Research interests: entrepreneurship, health economics, labor economics, econometrics Glenn MacDonald John M. Olin Distinguished Professor of Economics and Strategy, Director of the Center for Research in Economics and Strategy PhD, University of Rochester Research interests: industry evolution, strategy and value appropriation, microeconomics/industrial organization, investor protection, compensation Robert A. Pollak Hernreich Distinguished Professor of Economics PhD, Massachusetts Institute of Technology Research interests: environmental economics and policy, consumer demand analysis and consumer behavior, demography, labor economics, economics of the family Stephen Ryan Professor of Economics PhD, Duke University Research interests: industrial organization, applied econometrics Bernardo Silveira Assistant Professor of Economics PhD, New York University Research interests: applied microeconomics, political economy, industrial organization, law and economics


PhD in Finance

WashU PhD

“Olin’s PhD program combines esteemed finance faculty producing cutting-edge research with an environment that fosters faculty-student interaction. Professors guide students inside and outside the classroom, as well as coauthor research with them.” —Radhakrishnan Gopalan, Associate Professor of Finance Olin’s PhD program in Finance emphasizes rigorous analytical training and prepares you to pursue a career in research and teaching at leading academic institutions across the globe. Our students have a strong quantitative background, and typically have undergraduate training in economics, mathematics, engineering, or other quantitative disciplines. Our research-active faculty members are easily accessible to you. Collaboration is encouraged early in the program, with joint research resulting in faculty/student coauthored papers published in top-tier journals. Much of the research is based on economic models to address problems such as the allocation of capital, and risk and rewards in the economy. Empirical work widely uses the tools of econometrics—the application of statistics to economics. The Wells Fargo Advisors Center for Finance and Accounting Research (WFA-CFAR) is dedicated to the dissemination of research in finance and accounting that brings to light cutting-edge thinking, and helps solve the unique needs and challenges of business. The center brings an important focus on finance and accounting issues through the creative design of Olin courses, groundbreaking research papers and white papers, top-tier academic conferences, and custom member projects. These corporate projects are teamed by PhD and other Olin students, working closely with Olin faculty. Students strive to solve current challenges and position the organization for the future.

Collaborative Research—Finance Faculty and PhD Students Working Papers: • • • • • •

Gopalan, R., Alok, S.* Managerial Compensation in Multi-Division Firms. Gopalan, R., Gomes, A., Cortes, F.* Corporate Inversions: A Case of Having the Cake and Eating It Too? Ringgenberg, M., Brogaard, J., Sovich, D.* The Real Impact of Speculative Trading in Financial Markets. Ringgenberg, M., Haslag, P.* The Causal Impact of Market Fragmentation on Liquidity. Srinivasan, K.*, Gopalan, R., Martin, X. Accounting-Based Regulation and Earnings Management. Tran, NK, Vuong, T.*, Zeckhauser, R. Sequential Defaults in Banking Network.

Published Papers: • Baranchuk, N.*, Dybvig, P.H. (2015). Screening of Possibly Incompetent Agents. Economics Letters, 135, 15-18. • Goel, A.M., Song, F.*, Thakor, A.V. (2014). Correlated Leverage and Its Ramifications. Journal of Financial Intermediation, 23(4), 471–503. • Gopalan, R. Milbourn, T., Song, F.*, Thakor, A. (2014). Duration of Executive Compensation. The Journal of Finance, 69(6), 2777–2817. • Huang, S.*, Thakor, A. (2013). Investor Heterogeneity, Investor-Management Disagreement, and Open Market Repurchases. Review of Financial Studies, 26(10). • Dybvig, P.H., Wang, Y.* (2012). Increases in Risk Aversion and the Distribution of Portfolio Payoffs. Journal of Economic Theory, 147(3), 1222–1246. • Song, F.*, Thakor, A. (2012). Financial System Development and Political Intervention. The World Bank Economic Review, 26(1). • Gopalan, R., Xie, K.* (2011). Conglomerates and Industry Distress. Review of Financial Studies, 24(11), 3642–3689. *Indicates current or former student


Finance Faculty Taylor Begley, Assistant Professor of Finance PhD, University of Michigan Research interests: corporate finance, financial intermediation, financial contracting, information economics Jennifer Dlugosz, Assistant Professor of Finance PhD, Harvard University Research interests: corporate finance, financial intermediation, credit markets, corporate governance Jason R. Donaldson, Assistant Professor of Finance PhD, London School of Economics Research interests: contract theory, financial intermediation

Jeongmin “Mina� Lee, Assistant Professor of Finance PhD, University of Maryland Research interests: asset pricing, financial intermediation, information economics, market microstructure Hong Liu, Professor of Finance PhD, University of Pennsylvania Research interests: optimal consumption and investment with frictions, asset pricing, market microstructure Asaf Manela, Assistant Professor of Finance PhD, University of Chicago Research interests: financial intermediation, information economics, asset pricing

Philip H. Dybvig, Boatmen’s Bancshares Professor of Banking and Finance PhD, Yale University Research interests: banking, corporate finance, financial markets, asset pricing, fixed-income securities, industrial organization, portfolio management

Thomas Maurer, Assistant Professor of Finance PhD, London School of Economics Research interests: asset pricing; optimal portfolio choice; long-run risk; demographic change/ uncertainty; innovation, growth, and endogenous capital accumulation; learning in financial markets

Stuart I. Greenbaum, Former Dean and Bank of America Professor Emeritus of Managerial Leadership PhD, John Hopkins University Research interests: corporate governance, risk management, banking, financial intermediation

Todd T. Milbourn, Hubert C. and Dorothy R. Moog Professor of Finance PhD, Indiana University Research interests: corporate finance, managerial career concerns, management compensation, economics of asymmetric information

Armando R. Gomes, Associate Professor of Finance PhD, Harvard University Research interests: corporate finance, mergers and acquisitions, corporate governance, economic theory

Giorgia Piacentino, Assistant Professor of Finance PhD, London School of Economics Research interests: corporate governance theory, corporate finance, banking, optimal contracting

Radhakrishnan Gopalan, Associate Professor of Finance PhD, University of Michigan Research interests: corporate finance, corporate governance, emerging market financial systems, mergers and acquisitions, corporate restructuring, entrepreneurial finance Todd Gormley, Associate Professor of Finance PhD, Massachusetts Institute of Technology Research interests: corporate governance, banking, empirical methods, risk, development Ohad Kadan, Professor of Finance PhD, The Hebrew University of Jerusalem Research interests: corporate finance, market microstructure, economics of information, game theory Mark Leary, Associate Professor of Finance PhD, Duke University Research interests: empirical corporate finance and capital structure, payout policy, security issuance, financial intermediaries

Janis Skrastins, Assistant Professor of Finance PhD, London Business School Research interests: empirical corporate finance, banking, financial intermediation, organizational design, emerging markets Anjan Thakor, John E. Simon Professor of Finance, Director of Doctoral Programs, and Director of Wells Fargo Advisors Center for Finance and Accounting Research PhD, Northwestern University Research interests: corporate finance, financial intermediation, economics of asymmetric information Ngoc-Khanh Tran, Assistant Professor of Finance PhD, Massachusetts Institute of Technology Research interests: asset pricing, international finance Guofu Zhou, Frederick Bierman and James E. Spears Professor of Finance PhD, Duke University Research interests: portfolio choice, asset allocation, technical analysis, bubbles and crashes, anomalies, asymmetric information, asset pricing tests, Bayesian learning, model selection, economic methods, real option


PhD in Marketing

WashU PhD

“Fun is the major reason a researcher persists in doing research. You have to enjoy the process before you can enjoy the outcomes.” —Tat Y. Chan, Associate Professor of Marketing

At Olin, the Marketing discipline is distinguished by a demand for innovative ideas, critical thinking, and a strong emphasis on quantitative abilities. The program has two areas of study: Marketing Science and Consumer Behavior. Marketing Science focuses on economic fundamentals, including microeconomic theory and econometrics. Using this methodology, you’ll examine mathematical modeling of buyer/seller interactions, consumer choices, purchase behavior, resource allocation, components of the marketing mix, and new-product development. As a Consumer Behavior student, you’ll concentrate on psychology fundamentals, including cognitive psychology, social psychology, and behavioral decision theory. These areas provide a strong foundation for you to study and research consumer judgment and decision making, cognition, culture, emotions, motivation, individual differences, perception, and social influence. Some PhD Marketing students analyze the intersection of Marketing Science and Consumer Behavior, exploring how the interplay of these two broad areas can improve understanding and predict marketing phenomena.

Collaborative Research—Marketing Faculty and PhD Students Working Papers: • Chan, T.Y., Thomadsen, R., Yang, B.* A Salesforce-Driven Model of Consumer Choice. • Chan, T.Y., Narasimhan C., Yoon Y.* Advertising and Price Competition in a Manufacturer-Retailer Channel. • Gershon, R.*, Cryder, C. When Money Doesn’t Talk: Corporations Receive Less Credit for Monetary Donations. • Jiang, B., Sudhir, K., Zou, T.* Cost-Information Transparency and Intertemporal Pricing. Under revision, Management Science. • Stephenson, B.*, Cryder, C., LeBoeuf, R., Nowlis, S. Why Garlic Ice Cream? Peculiar Line Extensions Increase Choice of a Brand’s Pre-Existing Products. • Tonietto, G*., Malkoc, S., Nowlis, S. When an Hour Feels Shorter: Future Boundary Tasks Contract the Perception and Consumption of Time.

Published Papers: • Chan, T.Y., Che, H., Wu, C.* (in press). The Economic Values of Online Review. Marketing Science, 34(5). • Chan, T.Y., Cosguner, K.*, Seetharaman, P.B. (in press). Behavioral Price Discrimination in the Presence of Switching Costs. Marketing Science, forthcoming. • Chan T.Y., Xie Y., Zhang X.* (in press). Price Search and Periodic Price Discounts. Management Science, forthcoming. • Tonietto, G.*, Malkoc, S.A. (in press). The Calendar Mindset: Scheduling Takes the Fun Out and Puts the Work In. Journal of Marketing Research, forthcoming. • Gui, X.*, Jiang, B. (2016). Signaling through Price and Quality to Consumers with Fairness Concerns. Journal of Marketing Research, forthcoming. *Indicates current or former student


Marketing Faculty Tat Y. Chan Associate Professor of Marketing PhD, Yale University Research interests: industrial organization, applied econometrics, applied microeconomics, marketing Cynthia Cryder Associate Professor of Marketing PhD, Carnegie Mellon University Research interests: judgment and decision making, prosocial behavior, incentives, field and Internet research methodology Arun Gopalakrishnan Assistant Professor of Marketing PhD, University of Pennsylvania Research interests: Bayesian analysis, customer analytics, consumer risk and time preferences, customer lifetime value, digital marketing campaigns Baojun Jiang Assistant Professor of Marketing PhD, Carnegie Mellon University Research interests: competitive strategy, behavioral economics, the sharing economy, platform-based business models, pricing, distribution channels, innovation, operations/marketing interface, game theory Robyn LeBoeuf Associate Professor of Marketing PhD, Princeton University Research interests: consumer behavior, judgment and decision making, behavioral decision theory, intertemporal choice, gift giving Chakravarthi Narasimhan Philip L. Siteman Professor of Marketing PhD, University of Rochester Research interests: supply chain strategies, e-strategies, modeling customer profitability, choice modeling Yulia Nevskaya Assistant Professor of Marketing PhD, University of Rochester Research interests: consumer tastes evolution and habit formation, dynamic structural choice models, rewards programs, digital marketing Steve Nowlis August A. Busch Jr. Distinguished Professor of Marketing PhD, University of California-Berkeley Research interests: consumer behavior, decision making, consumption Seethu Seetharaman W. Patrick McGinnis Professor of Marketing and Director of the Center for Customer Analytics and Big Data PhD, Cornell University Research interests: dynamic choice behavior of households using econometric models Raphael Thomadsen Associate Professor of Marketing PhD, Stanford University Research interests: pricing, product design, game theory, point-of-sale, marketing


PhD in Operations and Manufacturing Management

WashU PhD

“Influential research and fresh knowledge creation are the trademarks of any top doctoral program and business school, and Olin’s doctoral program is both pioneering and extremely successful at it.” —Panos Kouvelis, Emerson Distinguished Professor of Operations and Manufacturing Management and Director of the Boeing Center for Supply Chain Innovation

Olin faculty members in Operations and Manufacturing Management (OMM) are distinguished by strong analytical backgrounds in operations research, management science, industrial engineering, and economics. The program emphasizes the use of modeling techniques to understand manufacturing and service environments, in areas of research ranging from supply chain management, operations strategy and revenue management to supply contracts, and effective uses of information technology for process reengineering. Research frequently focuses on areas with strategic and tactical implications and involves mathematical models that help analyze problems and provide insight into complex scenarios. The Boeing Center for Supply Chain Innovation (BCSCI) creates value through collaborative research in technology, information, and supply chain management. The focus is on the proprietary challenges member companies face. BCSCI undertakes a number of custom projects annually for members. Teams of PhD and other Olin students tackle these projects, working closely with Olin faculty to find solutions that build a competitive advantage through strategic supply chain management and technology-based process reengineering. BCSCI also sponsors seminars, conferences, and other programs to address critical issues, and bring to light the latest thinking in the information, technology, and supply chain fields.

Collaborative Research—OMM Faculty and PhD Students Working Papers: • Dong, L., Guo, X.*, Turcic, D. Selling a Product Line Through a Retailer When Demand is Stochastic: Analysis of Price-Only Contracts. • Duo, S.*, Kouvelis, P. Who Compensates the Sales Agent? • Jung, SH*, Kouvelis, P. Rationale for Supply Partnership with Downstream Rival: Information Asymmetry and Dual Sourcing. • Kouvelis, P., Xiao, G.*, Yang, N. On the Properties of Yield Distributions in Random Yield Problems. Published Papers: • Kouvelis, P., Xiao, Y.*, Yang, N. (2015). Competition in Pharmaceutical Supply Chain: Formulary Design and Drug Pricing. Manufacturing and Service Operations Management, 17(4), 511-526. • Turcic, D., Kouvelis, P., Bolandifar, E.* (2015). Hedging Commodity Procurement in a Bilateral Supply Chain. Manufacturing and Service Operations Management, 17(2), 221-235. • Dong, L., Kouvelis, P., Wu, X.* (2014). The Value of Operational Flexibility in the Presence of Input and Output Uncertainties with Oil Refining Applications. Management Science, 60(12), 2908-2926. • Wu, X.*, Zhang, F. (2014). Home or Overseas? An Analysis of Sourcing Strategies under Competition. Management Science, 60(5), 1223-1240.

*Indicates current or former student


Operations and Manufacturing Management Faculty Kaitlin Daniels Assistant Professor of Operations and Manufacturing Management PhD, University of Pennsylvania Research interests: gig-economy, contract theory, service operations Lingxiu Dong Professor of Operations and Manufacturing Management PhD, Stanford University Research interests: operations management, production and distribution systems, supply chain management, information in supply chains Amr Farahat Assistant Professor of Operations and Manufacturing Management PhD, Massachusetts Institute of Technology Research interests: pricing and revenue management, supply chain management and competition, game theory, optimization applications Jake Feldman Assistant Professor of Operations and Manufacturing Management PhD, Cornell University Research interests: assortment optimization, customer choice models, revenue management, approximation algorithms, machine learning Panos Kouvelis Emerson Distinguished Professor of Operations and Manufacturing Management and Director of the Boeing Center for Supply Chain Innovation PhD, Stanford University Research interests: global supply chain management, operations and finance interfaces, risk management in supply chains, commodity risk management, operations strategy, managing the innovation process, marketing/ manufacturing interfaces, product line design, lean manufacturing, inventory control, operations planning, project management, cyclic scheduling, manufacturing system design, management science and optimization Danko Turcic Associate Professor of Operations and Manufacturing Management PhD, Case Western Reserve University Research interests: supply chain management, supply chain risk management Fuqiang Zhang Professor of Operations and Manufacturing Management PhD, University of Pennsylvania Research interests: supply chain management, consumer behavior in operations management, inventory and production planning, game theory, incentives and mechanism design, energy and environment Dennis Zhang Assistant Professor of Operations and Manufacturing Management PhD, Northwestern University Research interests: data science, service operations, healthcare operations, social networks, behavioral operations and economics 


PhD in Organizational Behavior

WashU PhD

“The Olin PhD program is a wonderful place to explore meaningful questions and acquire the key research skills to find answers to these questions—answers that often have an immediate and considerable impact on the scholarly community and society at large.” —Markus Baer, Associate Professor of Organizational Behavior

Olin’s Organizational Behavior program examines how individuals and groups affect— and are affected by—organizations and the people in them. As an Organizational Behavior PhD student, you’ll study organizations from multiple viewpoints, methods, and levels of analysis—delving into management, leadership, negotiation, team development, and conflict management, among other areas. The program follows an apprenticeship model with an emphasis on one-on-one interaction. You’ll work directly with faculty and thesis advisors, observing how Olin’s research-driven faculty approaches a subject.

Collaborative Research—Organizational Behavior Faculty and PhD Students • Campagna, R.T.*, Mislin, A.A.*, Kong, D.T.*, Bottom, W.P. (2016). Strategic Consequences of Emotional Misrepresentation in Negotiation: The Blowback Effect. Journal of Applied Psychology, 101, 605-624. Elfenbein, H.A., Jang, D.*, Sharma S.*, Sanchez-Burks, J. (2016). Establishing Components of Emotional • Intelligence as Truly Objective Abilities: A Stroop Approach to Individual Differences in Tuning Into and Out of Nonverbal Cues. Emotion, in press. • Kong, D.T.*, Bottom, W.P., Konczak, L.J. (2016). Negotiators’ Emotion Perception and Value-Claiming Under Different Incentives. International Journal of Conflict Management, 27, 146-171. • Baer, M., Evans, K.*, Oldham, G.R., Boasso, A. (2015). The Social Network Side of Individual Innovation: A Meta-Analysis and Path-Analytic Integation. Organizational Psychology Review, (5), 191-223. • Kong, D.T.*, Koncak, L., Bottom, W.P. (2015). Team Performance as a Joint Function of Team Member Satisfaction and Agreeableness. Small Group Research, 46, 160-178. • Kudesia, R.S.*, Baer, M., Elfenbein, H.A. (2015). A Wandering Mind Does Not Stray Far from Home: The Value of Metacognition in Distant Search. PLOS ONE, 10(5). • Kong, D.T.*, Dirks, K.T., Ferrin, D.L. (2014) Interpersonal Trust Within Negotiations: Meta-Analytic Evidence, Critical Contingencies, and Directions for Future Research. Academy of Management Journal, 57, 1235-1255. • Sharma, S.*, Elfenbein, H.A. (2013). On the Role of Personality, Cognitive Ability, and Emotional Intelligence in Predicting Negotiation Outcomes: A Meta-Analysis. Organizational Psychology Review, (4), 293-336. • Bottom, W.P., Kong D.T.* (2012). The Casual Cruelty of our Prejudices: On Walter Lippmann’s Theory of Stereotype and Its “Obliteration” in Psychology and Social Science. Journal of the History of the Behavioral Sciences, 48, 363-394. • Kong, D.T.*, Tuncel, E., McLean Parks, J. (2011). Anticipating Happiness in a Future Negotiation: Anticipated Happiness, Propensity to Initiate a Negotiation, and Individual Outcomes. Negotiation and Conflict Management Research, 4, 219-247. • Mislin, A.A.*, Campagna, R.L.*, Bottom, W.P. (2011). After the Deal: Talk, Trust Building and the Implementation of Negotiated Agreements. Organizational Behavior and Human Decision Processes, 115(1), 55-68. • Bottom, W.P., Kong, D.T.* (2010). Normative Models for Strategic Decision Making in Industrial-Organizational Psychology and Organizational Behavior. Industrial and Organizational Psychology, 3, 417-420. • Bunderson, J.S., Boumgarden, P.* (2010). Structure and Learning in Self-Managed Teams: Why “Bureaucratic” Teams Can Be Better Learners. Organization Science, 21, 609-624.

*Indicates current or former student


Organizational Behavior Faculty Markus Baer Associate Professor of Organizational Behavior PhD, University of Illinois at Urbana-Champaign Research interests: problem formulation, idea generation, solution implementation, organizational creativity and innovation William P. Bottom Joyce and Howard Wood Distinguished Professor of Organizational Behavior PhD, University of Illinois at Urbana-Champaign Research interests: organizational behavior, behavioral decision theory, negotiation Stuart Bunderson Associate Dean and Director of Executive Programs, George and Carol Bauer Professor of Organizational Ethics and Governance PhD, University of Minnesota Research interests: organizational behavior and theory, knowledge management, coordination of specialized expertise Hengchen Dai Assistant Professor of Organizational Behavior PhD, University of Pennsylvania Research interests: goals and motivation, self-regulation, social influence Kurt Dirks Bank of America Professor of Managerial Leadership PhD, University of Minnesota Research interests: organizational behavior, trust in work relationships, feelings of ownership in the workplace, leadership, teams Michelle M. Duguid Associate Professor of Organizational Behavior PhD, Cornell University Research interests: social status and group dynamics, group creativity and decision making, demographic effects on group relations, social categorization Hillary Anger Elfenbein John K. and Ellen A. Wallace Distinguished Professor of Organizational Behavior PhD, Harvard University Research interests: emotions in the workplace Andrew Knight Associate Professor of Organizational Behavior PhD, University of Pennsylvania Research interests: groups and teams, affect, relationships, entrepreneurship, healthcare Judi McLean Parks Reuben C. and Anne Carpenter Taylor Professor of Organizational Behavior PhD, University of Iowa Research interests: conflict management and dispute resolution, psychological contracts and workplace justice, diversity and socio-cultural and cross-cultural management factors, revenge in the workplace, organizational identity Ray Sparrowe Associate Professor of Organizational Behavior PhD, University of Illinois at Chicago Research interests: leadership, informal relationships in organizations, group processes and outcomes


PhD in Strategy

WashU PhD

“Our students benefit from a large faculty-to-student ratio relative to other Strategy PhD programs. This means more attention—and the ability to work with multiple faculty before deciding on a dissertation topic.” —Anne Marie Knott, Professor of Strategy

At Olin, we believe that great Strategy PhD candidates have a fundamental drive to impact business practice. Our students, like our faculty, have diverse undergraduate training, including economics, chemistry, engineering, and mathematics. We strongly promote interdisciplinary and collaborative research among PhD students and faculty across business disciplines, and with other areas and schools at Washington University. In our program, strategy is studied at both the firm and individual levels—examining how organizations create and capture value, which arises from differing strategies, organizational designs, and environmental conditions. While firm performance is observed at the market level, the microfoundations of this performance lie in the behavior and organization of individuals and resources within the firm. The organization of these factors influences performance in innovation, firm structure, and human productivity. The Center for Research in Economics and Strategy (CRES) advances the understanding of firms and markets by supporting scientific research employing state-of-the-art analytical and empirical methods. Intended for publication in top-tier academic journals, CRES-sponsored research addresses substantive questions in many areas of economics and strategy. In addition to research assistance, which includes PhD student funding and data collection, CRES supports frequent presentations of internal and external research, national and international short-term visitors, CRES Fellows, and a website that includes extensive research listings.

Collaborative Research—Strategy Faculty and PhD Students Working Papers: • Balasubramanian, P.*, Bennett, V.M., Pierce, L. The Wages of Dishonesty: The Supply of Cheating under High-Powered Incentives. • Kluppel, L.*, Pierce, L., Snyder, J. (2016). Traumatic Shocks and the Deep Historical Roots of Organizations. Revise and resubmit, Organization Science • Knott, A., Vieregger, C.*, All Hail Large Firms: Reconciling the Firm Size and Innovation Debate. Invited for revision, Strategic Management Journal Published Papers: • Gubler, T.*, Larkin, I., Pierce, L. (2016). Motivational Spillovers from Awards: Crowding Out in a Multitasking Environment. Organization Science, 27(2): 286-303. • Gubler, T.*, Pierce, L. (2014). Healthy, Wealthy, and Wise: Retirement Planning Predicts Health Improvements. Psychological Science, 25(9), 1822-1830. • Nickerson, J.A., Boumgarden, P.*, Zenger, T.R. (2012). Sailing Toward Exploration and Exploitation: Achieving Ambidexterity through Organizational Vacillation. Strategic Management Journal, 33(6), 587-610 • Pierce, L., Balasubramanian, P.* (2015). Behavioral Field Evidence on Psychological and Social Factors in Dishonesty and Misconduct. Current Opinion in Psychology, 6: 70-76. *Indicates current or former student


Strategy Faculty Nicholas Argyres Vernon W. and Marion K. Piper Professor of Strategy PhD, University of California-Berkeley Research interests: strategy and structure, vertical integration, contracting and interorganizational arrangements, strategy and the institutional environment, information technology and organization, organizational politics Phech Colatat Assistant Professor of Strategy PhD, Massachusetts Institute of Technology Research interests: organizational theory, economic sociology, organizational learning, social networks, medical sociology, social epidemiology Daniel W. Elfenbein Associate Professor of Strategy PhD, Harvard University Research interests: governance of complex transactions, markets for intellectual property, innovation and technological change, university-industry technology transfer, incentives in organizations Tarek Ghani Assistant Professor of Strategy PhD, University of California-Berkeley Research interests: market and institutional development in emerging economies Anne Marie Knott Professor of Strategy PhD, University of California-Los Angeles Research interests: innovation, R&D, entrepreneurship, managerial value Jackson A. Nickerson Frahm Family Professor of Organization and Strategy, Brookings Non-Resident Senior Scholar in Government Studies, and Associate Dean and Director of Brookings Executive Education PhD, University of California-Berkeley Research interests: business strategy organization choice and performance, corporate survival, new institutional economics, intellectual capital management, management of innovation and technology Lamar Pierce Associate Professor of Organization and Strategy PhD, University of California-Berkeley Research interests: business strategy and public policy, fraud and corruption, ethics, incentives in organizations Ulya Tsolmon Assistant Professor of Strategy PhD, Duke University Research interests: internal markets and governance of multiunit firms, strategic human capital and firm boundaries, innovation strategy

Olin PhD Brochure 2016-17 (Updated 1/23/17)  
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