Accounting Brochure 2009

Accounting Excellence

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MESSAGE FROM THE DEAN We live in a world of unprecedented challenges, and tomorrow’s thought leaders will need a wide range of skills to succeed. The Jesse H. Jones Graduate School of Business at Rice University is committed to developing principled business leaders who think critically and have the flexibility to thrive in our global economy.

Through our programs, the Jones School faculty interacts extensively with students and the business community, creating a valuable flow of information, knowledge and opportunity. Through their innovative research, the accounting faculty influences other academics’ research as well as the practice of accounting in the business world.

Benefiting from both internal development and aggressive recruiting of both junior and experienced faculty, the Jones School accounting faculty contributes to the excellence we strive for at Rice. Over the last three years, Jones School faculty research productivity increased 67% in the top 40 academic and practitioner journals tracked by the Financial Times. The increased productivity improved the Jones School research ranking from 52nd to 20th place internationally.

To continue this strong trend, we are pleased to announce the appointment of Thomas Hemmer, Houston Endowment Professor of Accounting. Starting in Fall 2009, eight new faculty will join the Jones School, including four senior faculty with endowed positions.

We are also excited about the recognition and accomplishments of our current faculty. This brochure highlights their work and recent awards including the most recent, prestigious Anthony G. Hopwood Award for Academic Leadership given to Professor Stephen Zeff by the European Accounting Association.

At the Jones School we take great pride in our exceptional programs. We recently introduced a PhD in Business, and our Rice MBA programs continue to flourish and gain international recognition. A new minor in business introduces Rice’s bright undergraduate students to the language of business – starting with accounting.

At the Jones School we are committed to cultivating an environment that fosters personal growth and drives research. I encourage you to read about our internationally recognized, diverse accounting faculty and a couple of our alumni who draw on their Rice experience long after graduation.

Warm regards,

Bill Glick Dean H. Joe Nelson III Professor of Management

Jesse H. Jones Graduate School of Business Rice University (713) 348-5928 bill.glick@rice.edu

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ccounting has always been at the very core of business practices and its importance continues to grow. Accounting methods and processes have a significant impact on companies, investors, consumers and ultimately all sectors of our society.

Rice University’s Jones Graduate School of Business features an accounting program designed to meet the complex demands of the global marketplace. We teach tomorrow’s business leaders to successfully monitor economic performance and create accounting systems that enhance an organization’s effectiveness and produce ethical financial outcomes.

Our faculty members are at the forefront in accounting research and are published in key accounting journals as well as leading publications in the fields of finance, economics, and law. They also integrate their knowledge into the Jones School’s range of MBA programs as well as our new PhD in Business. Our accounting program provides students with a robust learning experience while inspiring faculty to grow professionally, deepen their knowledge through research and collaborate with the best in their field.

There’s never been a better time to connect with the accounting program at Rice.

THE HOUSTON CONNECTION nn Fourth-largest city in the United States. nn 2008 No. 1 Best City to Live, Work and Play according to Kiplinger’s Personal Finance. nn Houston boasts more Fortune 500 headquarters than any other U.S. city except New York. nn Of the world’s 100 largest non-U.S.-based corporations, more than half have operations in Houston. nn Foreign governments have established 90 consular offices in metropolitan Houston, ranking third behind New York and Los Angeles.

H O U S T O N

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MESSAGE FROM THE ACCOUNTING AREA COORDINATOR The past decade at the Jones School has been transformative. With a state-of-the art learning facility, the launch of several new programs including a PhD in Business, and the addition of world-class faculty in all disciplines, there is a new energy in the Jones School.

Although much is new, we do not forget our long tradition of accounting excellence. Early leaders on the accounting faculty include such notable scholars as Robert R. Sterling (also the first dean of the Jones School), Philip W. Bell, Edgar O. Edwards, and Stephen A. Zeff. From 2002 to 2006, all four gentlemen were inducted into the Accounting Hall of Fame. In fact, Rice holds the unique distinction as the only university to have four of its faculty, active or retired, recognized in the Accounting Hall of Fame.

Building on this rich heritage, the accounting area has welcomed several new faculty in recent years, reflecting the Jones School’s commitment to accounting research and education. Our faculty are at the leading edge of research in their fields and have won numerous honors and teaching awards. We are truly dedicated to advancing accounting thought and practice.

It is an exciting time to be at the Jones School. I join the dean in inviting you to read on and learn about accounting at Rice from our distinguished faculty and alumni.

Karen K. Nelson Accounting Area Coordinator and Professor of Accounting

HONORS AND AWARDS The Jones School Accounting Faculty is widely recognized for their research and teaching, including some of the more recent accolades listed below.

MBA Teaching Excellence Award (Jones School) 2009 Steven Crawford 2008 Brian R. Rountree 2007 Shannon W. Anderson 2004 Sally K. Widener

Thomas J. Burns Biographical Research Award (Academy of Accounting Historians) 2008 Stephen A. Zeff

MBA for Professionals Teaching Excellence Award (Jones School) 2008 Richard A. Price MBA for Executives Teaching Excellence Award (Jones School) 2008 Karen K. Nelson

Notable Contribution to the Accounting Literature Award (American Accounting Association) 2007 Shannon W. Anderson Outstanding Manuscript Award (American Accounting Association Management Accounting Section) 2007 Thomas Hemmer Notable Contribution to the Management Accounting Literature Award (American Accounting Association Management Accounting Section) 2006 Shannon W. Anderson

Alumni Teaching Excellence Award (Jones School) 2008 Sally K. Widener Excellence in Research Award (Jones School) 2009 Brian R. Rountree Anthony G. Hopwood Award for Academic Leadership (European Accounting Association) 2009 Stephen A. Zeff

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F A C U L T Y

RICE ADVANTAGE: RESOURCES

The accounting program at Rice spans the fields of managerial and financial accounting with a depth that few other programs offer. Faculty members have won many awards for their research and for excellent teaching. Many travel extensively, presenting their research and teaching in leading international business programs.

SHANNON W. ANDERSON Associate Professor of Management swa@rice.edu

Education: B.S.E. (Civil Engineering), Princeton University; A.M. (Business Economics) and Ph.D. (Business Economics), Harvard University Joined Rice: 2001 Prior Faculty Appointments: University of Michigan, University of Melbourne

Research Interests: Performance management, cost management, integration of strategy, operations management, management accounting Dr. Anderson has most recently been engaged in a major research program investigating catalysts for cost management and the strategies that firms use in realigning resources to match competitive market demands. She has also studied how firms use management control practices in relationships with alliance partners and suppliers, identifying practices associated with better performance outcomes. Dr. Anderson’s research provides a complex picture of how managers use accounting and control practices to manage performance in the modern firm.

Teaching Interests: Management accounting, cost management, management control Dr. Anderson uses the case method of instruction to bring cost management and management control theories to life. The experience she has gained through her research working with firms in a wide variety of industries and in international settings provides opportunities to discuss the broad applicability of the material in settings that are of the greatest interest to her students.

F A C U L T Y

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RICE ADVANTAGE: INNOVATION

The accounting professors at Rice are constantly innovating in their research and in the classroom. It is an amazing place to be a researcher and a teacher.

STEVEN CRAWFORD Assistant Professor of Accounting steve.crawford@rice.edu

Education: B.S. (Accounting) and M.Acc., Brigham Young University; M.B.A. and Ph.D. (Accounting), University of Chicago Joined Rice: 2007 Research Interests: Financial reporting, analyst coverage, cross-listing Interested in financial reporting issues in both domestic and international settings, Dr. Crawford examines how legal institutions and market forces affect cross-listed firms. He also explores the types of information produced by financial analysts.

Teaching Interests: Financial accounting, financial statement analysis Dr. Crawford teaches financial statement analysis in the MBA program. He encourages lively student participation in the classroom and learns as much from his students as they do from him. He uses a variety of teaching approaches to ensure that all students grasp the principles at hand.

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F A C U L T Y

RICE ADVANTAGE: DIRECTION

THOMAS HEMMER Houston Endowment Professor of Accounting thomas.hemmer@rice.edu

Education: B.A. (Business Economics), M.B.A. and Ph.D. (Economics), Odense University, Denmark Joined Rice: 2009 Prior Faculty Appointments: University of Washington; University of California, Los Angeles; University of Chicago; London School of Economics; University of Houston Research Interests: Information economics based modeling of measurement and incentive problems, employee stock options Dr. Hemmer’s primary interest is how to effectively provide incentives that motivate individuals to provide the kind of inputs a given organization needs. He studies job design, optimal compensation structures, and the design of accounting and other performance measurement systems.

Teaching Interests: Accounting theory, operations and managerial accounting In his doctoral seminars, Dr. Hemmer’s objective is to provide each student with a rigorous foundation in the fundamental theories upon which their research will be built. He strives to convey the managerial relevance of otherwise seemingly abstract theories by providing real world contexts where theories provide solutions to complex problems.

I am impressed with the direction in which the school is moving. The recruitment and advancement of outstanding faculty, the continuous improvement of existing programs, and the establishment of a highquality PhD program are key attractions for me.

F A C U L T Y

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RICE ADVANTAGE: THOUGHT LEADERSHIP

We have a wide variety of interests represented in our group, but we share a common goal of conducting innovative, thought-provoking research. Our faculty are regarded as leaders in their fields and are often called upon to share their expertise with colleagues, students, and business professionals around the world.

KAREN K. NELSON Professor of Accounting nelsonk@rice.edu

Education: B.S. (Business Administration), University of Colorado; Ph.D. (Business Administration), University of Michigan

Joined Rice: 2003 Prior Faculty Appointment: Stanford University Research Interests: Financial disclosure and securities regulation, earnings quality and earnings management, economic consequences of accounting choice Dr. Nelson examines factors that influence the quality of financial reporting and disclosure and the role of regulators, auditors and private securities litigation in monitoring financial reporting quality. She employs a variety of rich institutional settings and empirical methodologies to explore relevant, emerging issues.

Teaching Interests: Financial accounting Dr. Nelson strives to boil down challenging financial reporting issues to make the material accessible and relevant no matter the previous accounting experience of each student. She helps students see beyond the numbers to understand the meaning of financial statements for investors and managers.

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F A C U L T Y

RICE ADVANTAGE: OPEN ATMOSPHERE

My door is always open for both current and past students. I enjoy interacting with students and routinely receive phone calls asking for advice or guidance with accounting issues.

RICHARD A. PRICE, III Assistant Professor of Accounting richardp@rice.edu

Education: B.S. (Accounting) and M.Acc., Brigham Young University; M.S. (Statistics) and Ph.D. (Business Administration), Stanford University Joined Rice: 2005 Research Interests: Financial reporting, accounting conservatism, market efficiency, corporate governance Dr. Price’s research examines factors affecting the accounting measures reported in firms’ financial statements, including conservatism and corporate governance structures. He also investigates the efficiency of the capital markets with respect to fundamental accounting measures and other information.

Teaching Interests: Financial accounting Dr. Price enjoys teaching the importance and usefulness of understanding financial statements. Students in his classes find that accounting can be interesting and fun!

F A C U L T Y

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RICE ADVANTAGE: RESEARCH BRIAN ROUNTREE Assistant Professor of Accounting rountree@rice.edu

Education: B.S. (Accounting), Babson College; Ph.D. (Accounting), University of North Carolina Joined Rice: 2003 Research Interests: Financial reporting, analysts, audit markets Dr. Rountree examines the ways in which analysts, auditors and regulators influence firms’ financial reporting choices. His research addresses the market valuation of earnings smoothing, whether government-mandated changes in disclosure lead to improved financial reporting, and how the collapse of Arthur Andersen changed the market for audit services.

Teaching Interests: Financial accounting Dr. Rountree teaches financial accounting and financial statement analysis. He routinely discusses research in his classes, helping MBA students develop into sophisticated users of financial statement information.

Research is the lifeblood of Rice University and the Jones School. We have a strong commitment to conducting high-quality research and bringing that research into the classroom. I have been fortunate to collaborate on a number of research projects with colleagues both in the accounting group and in other disciplines in the school. Each one of these projects has helped me learn more about the business world and the ways in which it functions, and I have passed this information on to my students.

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F A C U L T Y

RICE ADVANTAGE: Business Connections

WIL UECKER Professor of Management uecker@rice.edu

Education: B.A. (Economics), M.B.A. and Ph.D. (Accounting), University of Texas at Austin Joined Rice: 1984 Prior faculty appointment: University of Iowa Research Interests: Cost management, corporate education, environmental sustainability During his career, Dr. Uecker has engaged in a variety of research initiatives. His early work featured laboratory experimentation on the use of accounting information in decision making in both individual and market settings. Following a period of administrative service in the Jones School, his interests shifted to the study of corporate education in business schools and environmental sustainability.

Teaching Interests: Cost management, management control, operations management Dr. Uecker currently teaches Management Control, Operations Management, and Managerial Accounting. He has coordinated the International Business Briefing, leading student study trips to China, Australia, New Zealand, Chile, Spain, Italy, Brazil and Mexico. He serves on a faculty team in the Jones School’s Action Learning Project, where student teams complete projects in actual companies under the supervision of a faculty team.

Situated in Houston, the Jones School is ideally positioned to foster a high level of interaction with the business community. The Jones Partners program provides a thought leadership forum for the business community. Our full-time, professional and executive MBA programs, as well as our non-degree executive programs, provide faculty and students with many opportunities to establish ongoing relationships with the business community.

F A C U L T Y

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RICE ADVANTAGE: PRINCIPLED

We use a variety of teaching methods to engage students in discussions of ethical dilemmas and to learn about current frameworks useful for analyzing various situations. This mix provides students with the tools, structure and frameworks needed to make reasoned decisions necessary for principled leaders.

SALLY K. WIDENER Associate Professor of Accounting widener@rice.edu

Education: B.B.A., University of Houston; M.S. (Accounting), Colorado State University; Ph.D. (Accounting), University of Colorado

Joined Rice: 2001 Prior Faculty Appointment: Colorado State University Research Interests: Performance measurement, management control systems Dr. Widener’s research investigates behavioral, strategy, and structural aspects of performance measurement and management control systems. She considers how certain design features of the performance measurement system affect employee perceptions including organizational justice and consequently employee performance. She also examines interdependencies among components of control systems.

Teaching Interests: Management control, advanced management control, cost management, internal control Dr. Widener teaches in the Rice MBA Full-Time and Rice MBA for Professionals programs. She encourages an engaged and interactive classroom and enjoys integrating cutting-edge research and examples from her previous work experiences into the curriculum.

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F A C U L T Y

RICE ADVANTAGE: Excellence

The university stands for excellence in everything it does. Our students are excellent and well motivated.

My colleagues are capable and conscientious — good researchers as well as committed teachers.

The administration is enlightened; they not only appreciate quality, but reward it.

STEPHEN A. ZEFF Herbert S. Autrey Professor of Accounting sazeff@rice.edu

Education: B.S. (Business) and M.S. (Management), University of Colorado; M.B.A. and Ph.D. (Business Administration), University of Michigan

Joined Rice: 1978 Prior Faculty Appointments: Tulane University, Monash University, University of California (Berkeley), Harvard Business School, University of Texas at Austin, Vrije Universiteit Amsterdam Research Interests: Comparative historical development of the setting and enforcement of accounting standards, biographical studies in accounting, history of accounting thought and practice Dr. Zeff was among the first to study the historical development of the accounting standard-setting process and the impact of politics on standard-setting in the United States and around the world.

His current research focuses on the history of the International Accounting Standards Board.

Teaching Interests: Financial accounting, corporate financial reporting Drawing on knowledge acquired from his research, Dr. Zeff enlivens his classes with real world knowledge about how accounting standards are set and the conflicting incentives of the preparers and users of financial information.

F A C U L T Y

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Research Professor Marc J. Epstein Distinguished Research Professor of Management epstein@rice.edu

Education: B.A. (Accounting), San Francisco State University; M.B.A. (Accounting) and Ph.D. (Business Administration), University of Oregon

Joined Rice: 1998 Prior Faculty Appointments: Stanford Business School, Harvard Business School, INSEAD Research Interests: Corporate environment and social performance, implementation of strategy, management control systems, performance measurement, corporate governance, social entrepreneurship, microfinance, sustainability Dr. Epstein’s research and practical experience focuses on the implementation of corporate strategies and the development of related performance metrics. In recent work, he examines how the utilization of new strategic management systems can assist companies to focus their strategies, link to performance metrics, and drive improved performance in organizations.

Teaching Interests: Implementation of strategy, management control systems, performance measurement, social entrepreneurship Most recently, Dr. Epstein’s Technology Commercialization class ventured to Rwanda to create sustainable commercial models for biomedical products. Students faced and surmounted many local challenges born from economic realities, sensitivities and concerns, and they discovered effective and innovative ways to manufacture, distribute and market their products.

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F A C U L T Y

Recent PUBLICATIONS Richard A. Price, Francisco Roman, and Brian R. Rountree.

2009. “The Impact of Governance Reform on Performance and Transparency,” Journal of Financial Economics, forthcoming.

Priscilla S. Wisner, Marc J. Epstein and Richard P. Bagozzi. 2009.

“Environmental Proactivity and Performance.” Advances in Environmental Accounting and Management, forthcoming.

Shannon W. Anderson and Henri C. Dekker. 2009. “Strategic Cost Management in Supply Chains, Part I: Structural Cost Management,” Accounting Horizons (June), Vol. 23, No. 3, and “Part II: Executional Cost Management,” (September), Vol. 23, No. 2.

Shannon W. Anderson, Scott Baggett, and Sally K. Widener.

2009. “The Impact of Service Operations Failures on Customer Satisfaction: Evidence on How the Source of Failures Affects What Matters to Customers,” Manufacturing and Service Operations Management (Winter), Vol. 11, No. 1, 52-69.

Kees Camfferman and Stephen A. Zeff. 2009. “The Formation and Early Years of the Union Européenne des Experts Comptables Economiques et Financiers (UEC), 1951-1963,” Accounting, Business & Financial History (November), Vol. 19, No. 3.

Laurie Burney, Christine A. Henle, and Sally K. Widener.

2009. “A Path Model Examining the Relations Among Strategic Performance Measurement System Characteristics, Organizational Justice, and Extra- and In-Role Performance,” Accounting, Organizations and Society (April/May), Vol. 34, No. 3/4, 305-321.

Wayne R. Landsman, Karen K. Nelson, and Brian R. Rountree.

2009. “Auditor Switches in the pre- and post-Enron Eras: Risk or Realignment?” The Accounting Review (March), Vol. 84, No. 2, 531-558.

Stephen J. Choi, Karen K. Nelson, and A. C. Pritchard. 2009. “The Screening Effect of the Private Securities Litigation Reform Act,” Journal of Empirical Legal Studies (March), Vol. 6, No. 1, 35-68.

Marc J. Epstein and Adriana Rejc Buhovac. 2009. “Measuring Performance of IT Investments: Implementing the IT Contribution Model,” Advances in Management Accounting, Vol. 17, 43-79.

Thomas Hemmer and Eva Labro. 2008. “On the Optimal Relation between the Properties of Managerial and Financial Reporting Systems,” Journal of Accounting Research (December), Vol. 46, No. 5, 1209-1240.

Karen K. Nelson, Richard A. Price, and Brian R. Rountree.

2008. “The Market Reaction to Arthur Andersen’s Role in the Enron Scandal: Loss of Reputation or Confounding Effects?”

Journal of Accounting and Economics (December), Vol. 46, No. 2-3, 279-293.

Sally K. Widener, Margaret Shackell, and Elizabeth A. Demers.

2008. “The Juxtaposition of Social Surveillance Controls with Traditional Organizational Design Components,” Contemporary Accounting Research (Summer), Vol. 25, No. 2, 605-638.

Shannon W. Anderson, Lisa Klein Pearo, and Sally K. Widener.

2008. “Drivers of Service Satisfaction: Linking Customer Satisfaction to the Service Concept and Customer Characteristics,” Journal of Service Research (May), Vol. 10, No. 4, 365- 381.

Lisa Bryant, Denise Jones, and Sally K. Widener. 2008. “Market Valuation of Intangible Resources: The Use of Strategic Human Capital,” Advances in Management Accounting, Vol. 17, 1-42.

Stephen A. Zeff. 2008. “The Contribution of the Harvard Business School to Management Control, 1908-1980,” Journal of Management Accounting Research, Vol. 20 (special issue).

Marc J. Epstein. 2008. Making Sustainability Work: Best Practices in Managing and Measuring Corporate Social, Environmental and Economic Impacts (Greenleaf Publishing and Berrett-Koehler Publishers).

William H. Beaver, Maureen F. McNichols, and Karen K. Nelson.

2007. “An Alternative Interpretation of the Discontinuity in Earnings Distributions,” Review of Accounting Studies (December), Vol. 12, No. 4, 525-556.

Marilyn F. Johnson, Karen K. Nelson, and A. C. Pritchard.

2007. “Do the Merits Matter More? The Impact of the Private Securities Litigation Reform Act,” Journal of Law, Economics, & Organization (October), Vol. 23, No. 3, 627-652.

Sally K. Widener. 2007. “An Empirical Investigation of the Levers of Control Framework,” Accounting, Organizations and Society (October/November), Vol. 32, No. 7/8, 757-788.

Marc J. Epstein and Marie-Josée Roy. 2007. “Implementing a Corporate Environmental Strategy: Establishing Coordination and Control within Multinational Companies, Business Strategy and the Environment,” Business Strategy and the Environment (September), Vol. 16, No. 6, 389-403.

William H. Beaver, Maureen F. McNichols, and Richard A. Price.

2007. “Delisting Returns and their Effect on Accounting-Based Market Anomalies,” Journal of Accounting and Economics (July), Vol. 43, No. 2/3, 341-368.

Qi Chen, Thomas Hemmer, and Yun Zhang. 2007. “On the Relation Between Conservativism in Accounting Standards and Incentives for Earnings Management,” Journal of Accounting Research. (June), Vol. 45, No. 3, 541-565.

Frances Kennedy and Sally K. Widener. 2008. “A Control Framework: Insights From Evidence on Lean Accounting,” Management Accounting Research (December), Vol. 19, No. 4, 301-323.

Jennifer Blouin, Barbara Murray Grein, and Brian R. Rountree.

2007. “An Analysis of Forced Auditor Change: The Case of Former Arthur Andersen Clients,” The Accounting Review (May), Vol. 82, No. 3, 621-650.

Brian R. Rountree, James P. Weston, and George Allayannis.

2008. “Do Investors Value Smooth Performance?” Journal of Financial Economics (December), Vol. 90, No. 3, 237-251.

Laurie L. Burney and Sally K. Widener. 2007. “Strategic Performance Measurement Systems, Job-Relevant Information and Managerial Behavioral Responses—Role Stress and Performance,” Behavioral Research in Accounting, Vol. 19, 43-69.

Frank Gigler and Thomas Hemmer. 2008. “On the Welfare Effects of Allowing Unlimited Renegotiation in Agency Relationships,” Economic Theory (November), Vol. 37, No. 2, 243-265.

P U B L I C A T I O N S

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Kees Camfferman and Stephen A. Zeff. 2007. Financial Reporting and Global Capital Markets: A History of the International Accounting Standards Committee, 1973-2000 (Oxford: Oxford University Press).

Stephen A. Zeff. 2007. “The SEC Rules Historical Cost Accounting: 1934 to the 1970s,” Accounting and Business Research, International Accounting Policy Forum Issue, 49-62.

Sally K. Widener. 2004. “An Empirical Investigation of the Relation Between the Strategic Use of Human Capital and the Design of the Management Control System,” Accounting, Organizations and Society (April/May), Vol. 29, No. 3/4, 377-399.

Sally K. Widener. 2006. “Associations Between Strategic Resource Importance and Performance Measure Use: The Impact on Firm Performance,” Management Accounting Research (December), Vol. 17, No. 4, 433-457.

Marc J. Epstein and Marie-Josée Roy. 2004. “Improving the Performance of Corporate Boards: Identifying and Measuring the Key Drivers of Success,” Journal of General Management (Spring), Vol. 29, No. 3, 1-23.

Sally K. Widener. 2006. “Human Capital, Pay Structure, and the Use of Performance Measures in Bonus Compensation,” Management Accounting Research (June), Vol. 17, No. 2, 198-221.

Thomas Hemmer. 2004. “Lessons Lost in Linearity: A Critical Assessment of the General Usefulness of LEN Models in Compensation Research,” Journal of Management Accounting Research, Vol. 16. 149-162.

Jennifer Conrad, Bradford Cornell, Wayne R. Landsman, and Brian R. Rountree. 2006. “How do Analyst Recommendations Respond to Major News?” Journal of Financial and Quantitative Analysis (March), Vol. 41, No. 1, 25-49.

Priscilla S. Wisner, Marc J. Epstein and Richard P. Bagozzi.

2006. “Organizational Antecedents and Consequences of Environmental Performance,” Advances in Environmental Accounting and Management, Vol. 3, 143-167.

Karen E. Schnietz and Marc J. Epstein. 2005. “Exploring the Financial Value of a Reputation for Corporate Social Responsibility During a Crisis,” Corporate Reputation Review (Winter), Vol. 7 No. 4, 327-345.

Shannon W. Anderson and Henri C. Dekker. 2005.

“Management Control for Market Transactions: The Relation Between Transaction Costs, Incomplete Contract Design, and Subsequent Performance,” Management Science (December), Vol. 51, No. 12, 1734-1752.

Marc J. Epstein. 2005. “The Determinants and Evaluation of Merger Success,” Business Horizons (January/February), Vol. 48, No. 1, 37-46.

Marc J. Epstein and Marie-Josée Roy. 2005. “Evaluating and Monitoring CEO Performance: Evidence from US Compensation Committee Reports,” Corporate Governance, Vol. 5, No. 4, 75-87.

Priscilla S. Wisner and Marc J. Epstein. 2005. “‘Push’ and ‘Pull’ Impacts of NAFTA on Environmental Responsiveness and Performance in Mexican Industry,” Management International Review, Vol. 45, No. 3, 1-21.

Marc J. Epstein and Priscilla S. Wisner. 2005. “Managing and Controlling Environmental Performance: Evidence from Mexico,” Advances in Management Accounting, Vol. 14, 115-137.

Tony Davila, Marc J. Epstein and Robert Shelton. 2005.

Making Innovation Work: How to Manage It, Measure It, and Profit from It (Wharton School Publishing).

Frank Gigler and Thomas Hemmer. 2004 “On the Value of Transparency in Agencies with Renegotiation,” Journal of Accounting Research (December), Vol. 42, No. 5, 871-893.

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Marc J. Epstein. 2004. “The Drivers of Success in Post Merger Integration,” Organizational Dynamics (May), Vol. 33, No. 2, 174-189.

Jones Graduate School of BUSINESS

Lisa Bryant, Denise Jones, and Sally K. Widener. 2004.

“Managing Value Creation Within the Firm: An Examination of Multiple Performance Measures,” Journal of Management Accounting Research Vol. 16, 107-131.

Frank H. Selto and Sally K. Widener. 2004. “New Directions in Management Accounting Research: Insights From Practice,” Advances in Management Accounting, Vol. 12, 1-36.

Tony Davila, Marc J. Epstein and Sharon F. Matusik. 2004.

“Innovation Strategy and the Use of Performance Measures,” Advances in Management Accounting, Vol. 13, 27-58.

Marc J. Epstein. 2004. “The Identification, Measurement, and Reporting of Corporate Social Impacts: Past, Present, and Future.” Advances in Environmental Accounting and Management, Vol. 2, 1-29.

Marc J. Epstein. 2004. Implementing E-Commerce Strategies: A Guide to Corporate Success After the Dot.Com Bust (Praeger Publishers).

Stephen A. Zeff. 2003. “How the U.S. Accounting Profession Got Where It Is Today,” Accounting Horizons (September), Vol. 17, No. 3, 189-205, and (December), Vol. 17, No. 4, 267-286.

William H. Beaver, Maureen F. McNichols, and Karen K. Nelson.

2003. “Management of the Loss Reserve Accrual and the Distribution of Earnings in the Property-Casualty Insurance Industry,” Journal of Accounting and Economics (August), Vol. 35, No. 3, 347-376.

Marc J. Epstein and Marie-Josée Roy. 2003. “Improving Sustainability Performance: Implementing and Measuring Key Principles,” Journal of General Management, (Autumn) Vol. 29, No.1, 15-31.

Steven C. Currall and Marc J. Epstein. 2003. “The Fragility of Organizational Trust: Lessons From the Rise and Fall of Enron,” Organizational Dynamics (May) Vol. 32, No. 2, 193-206.

Marc J. Epstein and Marie-Josée Roy. 2003. “Making the Business Case for Sustainability: Linking Social and Environmental Actions to Financial Performance,” Journal of Corporate Citizenship (January) Vol. 9.

P U B L I C A T I O N S

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Jim Turley, ‘78 Chairman and CEO, Ernst & Young, New York

LEADERSHIP THROUGH INTEGRITY “Leadership starts with a deep commitment to integrity, an important component of the Jones School’s approach to business education. Second is respect. And I never met a leader who lasted long in a management position if they didn’t realize they were part of a team.”

started in the profession I realized I was thinking about business in a different way from some of my colleagues.”

Although primarily involved in the management of Ernst & Young, Turley credits Rice with helping him stay informed about accounting trends. “I spend a lot of time with Ernst & Young account teams discussing professional matters they are confronting. I am still intrigued and motivated by the technical aspects of accounting, and I trace that back to my theoretical underpinnings that were cultivated at Rice.”

Jim Turley knows what it takes to lead an organization. As Chairman and Chief Executive Officer of Ernst & Young, Turley is responsible for the global operations of an accounting firm employing 140,000 people.

And he credits his Rice education for much of his success.

“I would not be where I am today without my Rice education,” says Turley, who has a bachelor’s from Rice and an MAcc from the Jones Graduate School. “Everything I know about accounting I learned there. Todd Johnson, then the accounting department head at the Jones School, inspired me to pursue accounting. When it was time to look for employment in the industry that I was interested in, he sent me to Ernst & Young. I started in 1977 as an intern, and the rest – as they say – is history.”

Turley notes with pride that the Jones School accounting faculty has been world-renowned for more than three decades. “They taught me not just the rules of accounting, but to think and understand issues in a way that was incredibly valuable. When I

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How does Turley see the role of accounting for business students following other career paths? “It’s a key component of the language of business. Companies need to keep score, increasingly on a global basis. Having highquality standards is important, and anybody involved in business will need this knowledge.”

Turley remains committed to his alma mater. “I feel so strongly about the importance of Rice and the Jones School in my life that I contribute not just financially but by serving on Rice governance committees and boards. Staying involved reminds me how the background they provided positioned me to succeed not just in accounting but in business.”

A L U M N I

Jay Hawthorn, ‘05 Vice President, Global Mergers and Acquisitions Group, Barclays Capital, New York

MAKING LIFELONG CONNECTIONS When Jay Hawthorn decided to get his MBA, he had to make a difficult decision. “I received my undergraduate degree from Vanderbilt and was working as a commodities trader at Enron through its end. I wanted to stay in Texas, so my choices for a strong graduate school were Rice and UT,” commented Hawthorn. “In the end I chose the Jones School for its excellent access to faculty, staff and administration. Rice has a world-class program with a personal, community feel.”

In his current position Jay focuses primarily on the power, utility and infrastructure industries. Prior to Barclays Capital’s acquisition of Lehman Brothers in 2008, Hawthorn held the same position within Global Mergers and Acquisitions at Lehman Brothers.

Jay acknowledges the impact his MBA and the Jones School’s accounting faculty have had on his career. “The Jones School prepared me for my current job advising large power and utility clients on M and A,” said Hawthorn. “A solid understanding of accounting is critical in my position, and the Jones School faculty provided me with the strong foundation I needed to go in and

accurately assess a company’s financial situation and to provide clients advice on the accounting impact of a potential M and A transaction. My undergrad background was in economics, and the Jones School really added to that platform by providing me fundamental accounting building blocks that I use every day.”

Jay is a member of the Jones School’s Alumni Board. He stays involved with the school by organizing alumni events in the New York area and working to keep the community together.

He works closely with the admissions department helping with regional interviews and staying in contact with admitted prospective students.

When asked what he would tell someone interested in accounting who is considering a graduate business degree, Jay responds, “You get out of it what you put into it. This is about taking your career to the next level, and the Jones School excels at making sure everybody gets the most they can from the experience. I have fond memories of my accounting professors and classes and my time at Rice. I made lifelong friendships and I can say without a doubt that the program really changed my life.”

A L U M N I

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PROGRAMS 18

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Rice MBA Full Time The Rice MBA is earned in an intimate, focused and interactive environment that encourages both independent thinking and strong relationships. As a result, the Rice MBA program meshes with today’s business world and fosters thinking that can shape the future. Rice’s MBA program combines three essential elements: (1) a comprehensive and challenging core curriculum provides a solid foundation of basic business disciplines; (2) a required Action Learning Project, a summer internship, and numerous field-project-oriented electives offer ample opportunities for real-world practice; and (3) a range of specialized electives allows further integration of knowledge and empowers achievement of career objectives. Throughout the Rice experience, students cultivate the ability to articulate problems, explore alternatives and reach solutions. Leadership communications and ethics are integrated across the curriculum with instruction in strategic communications, plus team and individual coaching in oral and written communication.

Rice MBA for Executives The MBA for Executives program draws experienced managers, professionals and executives from the Houston area. Houston boasts more Fortune 500 company headquarters than any other U.S. city except New York. MBA for Executives students have the opportunity to form lasting relationships with a locallybased faculty and fellow students who are active in the Houston business community. The top-ranked Rice MBA for Executives allows experienced professionals to acquire a valuable education without career interruption and apply classroom knowledge to the workplace immediately. Our rigorous curriculum emphasizes strategic management skills as well as a solid foundation in general business knowledge. Students benefit from outstanding faculty, small classes and opportunities to interact and network with a diverse group of experienced executives. In addition, students have access to our state-of-the-art facility, including the El Paso Corporation Finance Center.

Rice MBA for Professionals The Rice MBA for Professionals offers a unique opportunity to earn a degree while continuing to work. Students who want to accelerate their careers by enrolling in the Professionals program have the same rigorous learning experience, faculty and facilities as our top-ranked MBA Full-Time and MBA for Executives programs.

Rice PhD in Business The JGS doctoral program is intended for candidates aspiring to become faculty members at business schools in prestigious research universities. Students engage in both coursework and research as part of their doctoral training. Students close to graduation interview for faculty positions, hoping to start their careers as assistant professors at business schools around the world.

areas of study include Accounting, Finance and Management. Each of these areas is supervised by a faculty advisor.

Business Undergraduate Minor The Jones School undergraduate business minor enables students to pursue any of the excellent majors on campus while enhancing their education with select business courses. The integrated curriculum emphasizes knowledge in functional business areas that support the development of core skills: communication, globalization, innovation, leadership, team work and technical business knowledge.

Rice MBA nn Best in Texas: The 2008 Economist ranks the Jones School 1st in the Southwest and top 25 in U.S. nn Top 10 in the World: v The Rice MBA for Executives ranked 4th worldwide for “Top Salaries in Finance” and 15th overall in the U.S., according to the 2008 Financial Times Executive MBA rankings. v The Rice MBA Full-Time program ranked 7th worldwide for “Best in Finance.” Overall the program was ranked 2nd in Texas and 25th in the U.S., according to the Financial Times 2009 full-time Global MBA rankings. nn Top in Research (Intellectual Capital): The Financial Times 2009 full-time Global MBA survey ranked the Rice MBA Full-Time program 20th worldwide in faculty research. nn Top in Jobs: Among U.S. schools, the 2008 U.S. News and World Report ranked the Rice MBA Full-Time program 20th for job placements three months after graduation. nn Entrepreneurship Recognition: The Princeton Review and Entrepreneur magazine recognized the Jones School as a top entrepreneurial graduate school in Texas. nn Top in ROI: The Wall Street Journal 2008 Executive MBA survey placed the Rice MBA for Executives at 11th in the U.S. for Return on Investment. nn Diversity Recognition: Expansión 2009 ranked the Rice MBA Full-Time program 14th in the U.S. and 26th globally. nn Rice MBA is a diversity leader across all three programs.

Among US News Top 50 MBA Programs in 2009, our Class of 2011 percentage of women (34%) ranks 13th and underrepresented minorities (13%) ranks 9th. Our Class of 2011 underrepresented minority percentages are 25% in the MBA for Professionals program and 24% in the MBA for Executives program. Although peer school data is not available for these programs, Rice MBAs are exceptionally diverse.

A prospective student chooses an area of study when applying to the doctoral program, Marketing in 2009, and other anticipated

P R O G R A M S

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About Rice University Rice University is consistently ranked one of America’s best teaching and research universities. It is distinguished by its: nn Small size: 2,995 undergraduates and 2,013 graduate students; nn Undergraduate student-to-faculty ratio of five to one; nn Eighth-largest endowment per student among American colleges and universities; nn Residential college system which builds close-knit, diverse communities; nn Interdisciplinary, collaborative culture which integrates teaching and research along with both undergraduate and graduate work.

About the Jones Graduate School of Business The Jones Graduate School of Business is one of the world’s leading business schools. One of seven academic units of Rice University, it is named in honor of the late Jesse Holman Jones, a prominent Houston business and civic leader. In 1933, Jones was appointed chairman of a federal government agency, the Reconstruction Finance Corporation (RFC), which invested in loans to banks and businesses, keeping those institutions afloat.

By directing the RFC to purchase stock in troubled financial companies, he effectively infused capital back into the markets and brought many of the banks and businesses back to solvency.

The Jones School is distinguished by its:

James A. Baker III Institute for Public Policy has established itself as one of the leading nonpartisan public policy think tanks in the country. Since its inception in 1993, the Baker Institute has developed a strong track record of achievement based on the work of Rice University faculty and the institute’s endowed fellows and scholars, who do important research on domestic and foreign policy issues with the goal of bridging the gap between the theory and practice of public policy. The institute also collaborates with experts from academia, government, the media, business, and nongovernmental and private organizations. Results of research programs and studies with specific recommendations are then presented to those involved in the formulation and execution of public policy.

The Rice Alliance supports entrepreneurs and early-stage technology ventures in Houston and throughout Texas through education, collaboration and research. Since its founding in 1999, the Rice Alliance has assisted in the launch of over 230 technology companies that have raised more than $500 million in funding.

The Rice University Business Plan Competition has become one of the largest and richest intercollegiate graduate-level business plan competitions in the world. In 2009, more than $800,000 in cash and prizes were awarded.

Printed by: Chas. P. Young Co. | Date: September, 2009 | Quantity: 5,000

nn Strong foundation in marketing, finance, accounting, strategy and organizational behavior with areas of excellence in energy, entrepreneurship and health care; nn Nine to one student-to-faculty ratio creates an interactive classroom experience; nn Unsurpassed teaching and path-breaking research; nn High-ranking MBA program among the world’s business schools.

The Behavioral Lab at the Jones School provides researchers with the latest in audio/visual equipment and editing software to conduct both individual projects and focus groups.

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Jones Graduate School of BUSINESS

R E S O U R C E

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Rice University Jones Graduate School of Business Janice & Robert McNair Hall 6100 Main Street Houston, Texas 77005

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