Currency Magazine Summer 2023

THE UNIVERSITY OF LOUISVILLE COLLEGE OF BUSINESS MAGAZINE

CURRENCY

Vol. 5 | No. 1 | 2023

A FUTURIST LOOKS AT CHATGPT

Nat Irvin explores AI through the lens of his granddaughter (PG. 9)

SUMMER 2023

IN THIS ISSUE CURRENCY Vol. 5 | No. 1 | 2023

FROM THE DEAN

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CELEBRATING MENTORSHIP

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HOW TO LIFT

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IS CHATGPT SMARTER THAN A THREE YEAR OLD?

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CFE FELLOWS PROGRAM

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EQUINE INTERNSHIPS AT CHURCHILL DOWNS

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HONORING IDENTITY

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A LOOK BACK AT NAVIGATING LEADERSHIP NOW

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GRADUATE PROGRAMS INTERNATIONAL TRIPS

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NEW FACES

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CLEARING THE PATH

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COLLEGE OF BUSINESS EXCELLENCE AWARDS

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THE HISTORY OF THE “BIG RED” STATUE

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RESEARCH HIGHLIGHT

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RESEARCH ROUNDUP

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Interim Dean Guan’s summer message

Alum Todd Spencer credits his career to mentors

CONTRIBUTORS Vilde Kiste Bryne, Donna Clark, Christopher Dye, Sonja Faul, Erica Hulse, Elijah Humble, Jill Wegenast This magazine is a compilation of articles, notes, and interviews from the College of Business. To subscribe to the newsletter please e-mail currency@louisville.edu.

Currency is published by the University of Louisville College of Business Communications and Marketing Department.

The University of Louisville is an equal opportunity institution and does not discriminate against persons because of race, age, religion, sex, handicap, color, or national origin. ©2023 University of Louisville

MBA student Woo Smith builds community

Nat Irvin, professor and futurist, looks to the future of AI

The Fellows Program supports both faculty and PhD candidates

The Equine Industry Program offers impactful internships

Sophonie Bazile is passionate about issues that align with her interests

The second annual conference tackled Humanizing Innovation

A scrapbook of all the places they did go

The College of Business welcomes new faculty and staff

Virginia Denny has a love for UofL and helping people find their paths

Community members are recognized at annual event

Dedicated in the spring of 1990, the statue inspires and surprises

Anne Marie Zwerg-Villegas’ research on “callings”

Celebrating the College’s research contributions

SUMMER 2023

FROM THE DEAN Profound changes in demographics, economy, and technology are transforming higher education, as described in “The Great Upheaval,” by authors Arthur Levine and Scott Van Pelt. As interim dean of the University of Louisville College of Business and a business professor for over 30 years, I agree that higher education is experiencing significant upheaval. However, the College of Business is well-positioned to take on this challenge and emerge stronger as we continue to embrace innovation, focus on student success, create new knowledge, collaborate with the business community, and enhance diversity and inclusion.

In this issue of Currency, I would like to share our recent efforts and successes as we partner with the business community to build a greater business school. Recently our most notable academic innovations include the Master of Science in Business Analytics, the Distilled Spirits Certificate, the Franchise Certificate, and the Minor in Real Estate Development and Management. These programs have all been co-developed with industry experts and are or will be co-delivered with our business partners. The Franchise Certificate is also part of our Yum! Center for Global Franchise Excellence, made possible by a gift from Yum! Brands. The new Minor in Real Estate Development and Management is supported by a gift from LDG Development. As a result, these academic curricula are industry-relevant, reflecting current trends and demands and ensuring our students have tangible “workforce-ready” capabilities. New initiatives partnering with the business community are underway and more information will be shared as these partnerships evolve.

Our student success efforts have focused on better internships, enhanced student engagement, and improved retention rates. Today we are supporting more internships thanks to our business partners. Our new Corporate Partnership Program is rapidly attracting new members. Our Cardinal Flight student engagement program has recently launched. We thank Papa Johns for their support of these important retention and engagement efforts! We are also reaching out to our future students. We recently launched a very successful dual-credit program called the Cardinal Bridge Academy, where high school students can take college classes while still in high school. Many of these students are from underrepresented communities. We are grateful to Yum! Brands for supporting this impactful program.

While education is our core mission, it is important to realize that our curriculum is also very much informed by our faculty’s research and experience. As a result, our professors can share the latest theoretical and empirical insights in the classroom with practical application. We are also collaborating with our business partners on research. For example, our Marketing Department has been working with Doe-Anderson in starting a very successful annual academic conference focusing on consumer behavior research. Our Equine Department has been working with Kentucky’s iconic horse racing industry to create a database of economic impact studies.

The College of Business is from Louisville, of Louisville, and for Louisville. By fostering strong connections with the business community, the College of Business can ensure the relevance and effectiveness of our programs, enhance the learning experiences of our students, and contribute to the success and growth of the business community.

Jeff Guan, PhD Interim Dean College of Business SUMMER 2023 | CURRENCY Magazine |

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TODD SPENCER

CELEBRATING MENTORSHIP

by Erica Hulse

“I love this industry,” shared Todd Spencer, president of Louisville advertising agency Doe-

the foundational relationships I needed.”

Along with the connections gained through alumni

Anderson. “It is the perfect mix of creativity and

networking, Spencer also credits the mentorship

business problem-solving. I’ve gotten to spend

of two important individuals who have greatly

my career helping a lot of different clients solve

impacted him throughout his professional life:

business issues with creative solutions.”

A true marketer and visionary leader in his role as executive chairman of Doe-Anderson, his insights resulted in the development of innovative marketing campaigns which generated positive results for many national and international brands

former president of Doe-Anderson Dave Wilkins, and former Maker’s Mark distiller Bill Samuels, Jr. Spencer credits Wilkins with taking a chance on him as a young professional. “He took a chance in hiring me and was always there to provide support while giving me space to go figure it out,” shared

such as Maker’s Mark, Jim Beam, KOHLER,

Spencer. “Dave was always there for support and

American Red Cross, Humana, Nestlé Purina,

counsel.” Spencer also notes Samuels as having

and Louisville Slugger, to name a few. Spencer’s

made one of the most significant impacts on him

relentless energy and passion made him the

as a professional in his field. “He has made the

youngest president in the company’s 108-year

biggest impact on my career,” noted Spencer.

history.

“He is incredibly open and treats everyone he

Spencer shared, “I started my career in advertising through an internship program at the time within

encounters the same – from corporate and government leaders to copywriters to farm hands.”

the College of Business. That access and practical

Spencer encourages current and future graduates

application of what we were learning was literally

to continue learning while identifying mentors

life-changing.” Citing his alumni network’s impact

to aid them after graduation. “Find ways to get

on his professional development, Spencer noted,

access to strong business leaders and use them as

“[The College of Business] gave me an incredible

mentors,” he encouraged. “Have a growth mindset

foundation for everything I’ve accomplished. The

rather than a fixed mindset and be positive about

structure helped me make connections to build

what can be accomplished.”

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| ALUMNI HIGHLIGHTS

Todd Spencer President, Doe-Anderson

SUMMER 2023 | CURRENCY Magazine |

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WOO SMITH: HOW TO LIFT

Woo Smith, 2022 MBA Cohort President

Photo and story by Sonja Faul

SETTING THE BAR

she’s been employed for ten years, or maybe it’s

It doesn’t take long during a conversation with

when she casually mentions being a competitive

Professional MBA student and 2022 Cohort

powerlifter that garners one’s full attention.

President, Woo Smith, to be impressed by her.

Maybe it’s her presidency at YPAL, the local young professionals networking community, or her dedication to the company Terracon where 6

| STUDENT HIGHLIGHTS

“I want to be CEO of my company,” says Smith.

She is a marvel on a mission.

Smith is a senior associate at Terracon, an engineering firm that hired her straight out of

undergrad at Emory University in Atlanta. She earned her degree in political science with a focus on environmental science. Through her employment, she transferred to Chicago, then Louisville.

“I moved to Louisville with the intention to make roots,” says Smith. “I want to be as involved as possible.” And involved she is. As the current president of YPAL, she dedicates herself to planning and attending events connecting young professionals across Louisville. Smith’s involvement with YPAL brought her a fateful encounter with the College’s Assistant Dean and Executive Director of MBA Programs, Vernon Foster.

strong and is adamant that every woman should feel empowered to do the same.

Smith has found herself in a multitude of male-dominated fields. Engineering, powerlifting, and —Woo Smith even leadership roles are spaces inhabited chiefly by men. This paradox is not lost on Smith. “There are so few women CEOs and even less POC,” says Smith. “I want to have women in powerful positions.”

I WANT TO BE CEO OF MY OWN COMPANY.

“You want to be an executive? You need your MBA,” Smith recounts Vernon’s words.

An insightful chat followed as he and Smith discussed her dreams about the future, ultimately leading to Smith’s application to UofL’s Professional MBA program.

As a woman and person of color (POC), she wants to ensure professionals have a voice in their community and leadership. Born in Seoul, South Korea, and moving to the states when she was a child, she admits to seeing her fair share of experiences and discrimination. She strives for excellence in hopes of having the opportunity to amplify the voices of those who may be underrepresented.

COMMUNITY SPOTTER

Smith finds the program “humbling,” saying that it has “widened the aperture” of what she thought she knew about business. This insight into the business world will give her an edge over her engineer counterparts, fitting her track record in her ability to move up in her company.

When asked for advice to give to people considering an MBA, Smith’s response is, “If you’re interested in something, make the commitment. You’ll be able to carve out the hours to make it happen.” But she’ll admit this statement applies to everything in life.

SUPERSETS

Her number one recommendation is to ensure you have a sound support system. Smith has her husband and community to thank for their support. She also encourages others to get involved with their community as much as possible. Her dedication to her passions brings Smith closer to realizing her goal of becoming a woman POC CEO at her company, generating visibility and paving the way for people like her.

With a part-time graduate program now on her plate, Smith’s schedule has taken on a new intensity. Her endurance is remarkable–working 60+ hours at Terracon, 15+ hours with YPAL, and seven hours in class time each week, not to mention the time she sets aside for her husband Gary, two dogs (Smith admits Gary takes the lead role of caretaker), and powerlifting. “[Exercise] is the one thing I don’t compromise,” Smith says. “I have my own goals, it keeps my sanity, and it’s a family activity.” Smith lifts with Gary and his brother, strictly adhering to her commitment to health and fitness, and her goals stretch beyond aesthetic. She works out to be

“Change is happening, but very slowly,” says Smith.

Whether it’s at work, school, the city, or the gym, Smith has a few different journeys in her life plan plotted, but trust she’s working hard to help lift us all.

SUMMER 2023 | CURRENCY Magazine |

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CHATGPT IS WICKEDLY SMART BUT IS IT SMARTER THAN MY 3-YEAR-OLD GRANDDAUGHTER? NAT IRVIN

—and who is Nat Irvin?

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| FACULTY HIGHLIGHTS

SUMMER 2023 | CURRENCY Magazine |

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Jorgie takes photos at a parade Editor’s Note: This article was originally published on our website in February 2023. Due to the speed at which technology is evolving, portions of this article may be out-of-date at the time of press.

O

by Nat Irvin, II

ur three-year-old granddaughter, Jorgie Nubois Peters, was born just as the pandemic had begun sweeping the globe.

Her parents had to learn quickly to adapt to the new world of working from home, masking up, missing holidays, and getting vaccinated while protecting her and preparing for the future.

Unbeknownst to Jorgie, a new kind of technology was emerging in the world, changing the way she would learn, live, and work in the future.

Whereas her Saba (That’s what she calls me) had learned about the world primarily through books and other media, she would live her life in a world where she would always have access to her very own “Jorgie Bot,” an AI prediction machine, intelligent avatar, that would help guide her heart and mind’s curiosity into the world of an unknown future.

In this future, she will have her own ChatGPT(x), “Jorgie Bot10.” Jorgie already owns a small robot, so talking with her Jorgie Bot10 would be as natural for her as asking Siri to play Akili and Me, the Tanzanian educational cartoon that follows an African character, Akili, on magical adventures. But right now, as I play with 10

| FACULTY HIGHLIGHTS

ChatGPT3, I feel it’s like finding magic in a bottle, my own genie, my own oracle. Ask it anything, and lo and behold, a torrent of information explodes across the screen.

EXPLORING THE POSSIBILITIES Even at 3:00am, it is still there, ready to respond to my commands. As my wife tries to sleep, there I am saying, blurting out, in amazement, “Look what I found! Look what it says about Howard Thurman (her favorite theologian). Look what I found! Look what it says about mysticism. Look what else I found! Look what it says about CRT— critical race theory….”

“Hey GPT, write me a love story about two teenagers, one of whom has a secret—she’s an alien.” It promptly wrote the short teenage love story.”

“Ok,” I said, “modify the secret to her being ‘trans’.” It promptly rewrote the story with all the sensitivity one might hope would accompany a matter of such disclosures.

“Ok, include one other change. The boy has a secret too…he is also trans.”

It was amazing how quickly my ChatGPT3 adjusted the narrative and rewrote the story as if it were a contemporary teenage love story— dealing with the fears of disclosure, rejection, public ridicule, etc.

CHATGPT3 IS WICKEDLY SMART, BUT IS IT SMARTER THAN MY 3-YEAR-OLD GRANDDAUGHTER? Well, no…not even close.

When I asked ChatGPT3 to tell me about my grandaughter’s Saba (that’s me, Nathaniel Irvin), ChatGPT3 said I had died unexpectedly in October 2021, that I lived in Louisiana and had been an award-winning radio-television personality.

MIXING THE DETAILS But it said nothing about my tenure as a professor at the Babcock School of Management at Wake Forest University or my time as vice chancellor at Winston-Salem State University… yada, yada, yada…

Ok, well, it was an easy mistake since my father and I share the same name, and he did indeed pass away in 2016, and my wife and I also have a son, Nathaniel Irvin III, who is very much alive, thank goodness – as am I. So no, ChatGPT3 is not smarter than my granddaughter, Jorgie, because she would have told anyone that Saba had just spoken with her on Facebook and that she calls him often. But we all know that with the advances in AI, such factual errors will be largely few.

THE FUTURE OF CHATGPT I am, of course, very excited by the future of all things AI, but before my total embrace of this new Jorgie chatbot, I must think back to the Christmas of 1962 when my parents were deciding on a set of encyclopedias for my two siblings and me.

News clipping of WXII News Channel’s Emmy Announcement, 1999

Ok, well, it’s true that I did create a television show, “Other Voices,” for WXII, News Channel 12 in Winston-Salem, NC, and it did win an EMMY for the station. And yes, I also wrote a column for over 15 years for the Winston-Salem Journal and was a frequent guest on National Public Radio (NPR).

There were several considerations. The first dealt with race—What did the books say about the word “negro” and the idea of race historically?

We were black people living in the South and in the midst of a struggle for civil rights. White vigilantes had already vandalized our home; the threats of KKK violence were not just theoretical.

My dad was a history teacher, and he knew how crucial it was for any information, i.e., dictionary, history books, let alone the encyclopedia, that his children would use, had to speak to their self-worth. In other words, he was not buying any set of books that would spout bull***t, a (term he himself would never use) but one that is aptly used to describe the recently released Open AI ChatGPT3 and other chatterbots that are suddenly proliferating like fauna during the Cambrian age.

Any book that would purport that people of color, blacks, or negroes were an inferior

SUMMER 2023 | CURRENCY Magazine |

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race of people, that spoke despairingly of black people would be automatically disqualified. But the question for my parents? How would we know which set of books to trust, and even then, could we afford to buy them?

Nat Irvin II as a young boy

In a final twist of irony—my little Jorgie now lives in a world where we humans actively debate the idea of AI’s reaching artificial general intelligence (AGI) approaching or surpassing human intelligence.

Some speculate that our machines may even attain sentience. In a recent series of lectures (Living With Artificial Intelligence Reith Lectures sponsored by the BBC), Professor Stuart Russell describes this possibility as one of human history’s greatest inventions. https://www.bbc. co.uk/programmes/m001216j At age three, Jorgie is content going to school every day, laughing and dancing, drawing, making clay objects with her friends, looking through a microscope to see tiny things moving in the water, a magnifying glass to see small print made large, using binoculars to see across a field, and a telescope at night to better-see the moon, and tugging on a kite string while watching it soar, defying the power of gravity.

But around her, large systems are swirling, determining not only the things she will see and learn but what those large AI systems will say about her and how she will be perceived in the electronic encyclopedias of the future. How will this new machine define our principles, rights, and ideals, and, more important, what will it say about fairness and justice? The new AI–learning language systems trained on existing data are already being used to make decisions about us without much input from us. It’s still very early in the field of machine learning and we are only

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| FACULTY HIGHLIGHTS

beginning to confront the “alignment problem.”

Will these systems we are currently creating match the world that we have now or the world that we want in the future? The problem of algorithmic justice is already being challenged across a wide range of our human activities, especially in the criminal justice system where AI is being used to predict the future behavior of a defendant accused of a crime. AI is being used in culling resumes, eliminating some candidates on the basis of their names alone. Where is the algorithmic justice?

FINAL NOTE Of course, the above thoughts don’t reflect the rapid changes that occurred in the ChatGPT(x) wars that recently exploded when ChatGPT was embedded into Microsoft “Bing” search engine. Not only will Jorgie’s future bot be able to respond to her in real time, the responses to her queries will be accompanied by real time citations.

Following the announcement of the merger, I asked ChatGPT3 who was “Nat Irvin, II?” The answer: Nathaniel Irvin II is a former American professional basketball player. He played in the National Basketball Association (NBA) as a power forward for several teams during the 1990s, including the San Antonio Spurs, the Houston Rockets, and the Denver Nuggets. Irvin was known for his physical style of play and was a fan favorite due to his tenacity on the court. He had a solid career in the NBA but did not achieve the level of stardom that some other players of his era did.

Unfortunately, there is limited information available about Irvin’s life and career after he retired from professional basketball. It is possible that he has retired from public life or is involved in activities that do not receive significant media coverage.

On this score, my three-year-old granddaughter is still smarter than ChatGPT3.

COLLEGE OF BUSINESS ALUMNI COUNCILS

EMPOWER ALUMNI TO SHAPE THE FUTURE Are you a proud alumnus of the College of Business?

If so, we have two fantastic alumni councils that will help you STAY CONNECTED and ENGAGED with your alma mater.

The College of Business Alumni Council is dedicated to fostering a strong bond between the University and the vibrant community of College of Business alumni. Its primary mission

our community. The Graduate Business Alumni Council extends a warm invitation to all graduates of our College of Business graduate programs.

The annual golf scramble is not to be missed,

is to create and promote various programs and community service opportunities, all while working closely with the UofL College of Business and Louisville Alumni. As part of its exciting initiatives, the council organizes an exhilarating annual step challenge during the fall season. Additionally, this fall, it will be focusing on developing networking initiatives for students.

and the council also organizes networking events and exciting activities that connect students and alumni.

For those who have completed graduate programs at the College of Business, we have the Graduate Business Alumni Council awaiting your participation. This council’s main objective is to facilitate valuable networking opportunities among fellow alumni and provide avenues for professional development. Our esteemed alumni generously offer their mentorship to current students and actively engage with the College’s graduate programs, making a positive impact on

JOIN NOW Don’t miss out on the chance to stay connected with your fellow alumni, contribute to the College of Business community, and seize incredible networking and professional development opportunities. Email the respective councils today and embark on an enriching journey with the College of Business!

College of Business Alumni Council uoflcobalumnicouncil@gmail.com Graduate Business Alumni Council uoflgbac@gmail.com

SUMMER 2023 | CURRENCY Magazine |

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THE CENTER FOR FREE ENTERPRISE FELLOWS PROGRAM

FOSTERING COLLABORATION & ENTREPRENEURIAL STUDY

by Donna Zinser Clark

At the heart of the Center for Free Enterprise’s mission is a commitment to research that examines the importance of entrepreneurship and enterprise to human flourishing.

The CFE Fellows Program plays a pivotal role in advancing the mission by empowering both faculty and students to realize research goals, while also furthering their academic pursuits. The fellowships provide financial support, as well as mentorship and collaborative opportunities for participants.

CFE PHD FELLOWS The Free Enterprise PhD Fellows program is open to students in the entrepreneurship doctoral program at the College of Business.

“Our fellows are doing great research examining various aspects of entrepreneurship both theoretically and empirically,” said CFE director Steve Gohmann. “Although they are examining different areas, in almost all cases they are finding that removing barriers to entrepreneurship leads to greater human flourishing.”

Thanks to the fellowship, third-year PhD student Sadek Showkat has conducted field research work in refugee camps in Bangladesh. “Through my visits to these camps, I have been able to collect both qualitative and quantitative data, which have been crucial in informing my research on how entrepreneurship can foster well-being in socially and geographically isolated areas,” said Showkat.

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| CENTER FOR FREE ENTERPRISE

Showkat’s work exploring the entrepreneurial resourcefulness of the refugees was acknowledged when he was selected as one of only five business PhD students worldwide to receive a prestigious scholarship from the RRBM (Responsible Research in Business and Management).

“Through valuable resources, mentorship, and research opportunities, Fellows like Sadek collect rare data, present findings at conferences, and make unique contributions to their fields,” said CFE assistant director Daniel Bennett. “The potential impact of Sadek’s work has been validated with his RRBM award.”

CFE FACULTY FELLOWS The CFE Faculty Fellows program is open to all full-time University of Louisville faculty members.

The goal is to engage “academic entrepreneurs,” while developing inter-disciplinary collaboration around creativity, innovation, and entrepreneurship as a means of advancing the well-being of society.

Isabel Botero, the George E. and Mary Lee Fischer Chair in Family Entrepreneurship in the College of Business is a 2022-2023 CFE Faculty Fellow. Her research focuses on business-owning families and how they prepare the next generation of family members to be involved in business operations. She calls the fellowship “very useful because it provides me the opportunity to present my research to family business owners and practitioners who consult business families.” Botero used her fellowship funding for travel to conferences, where she could engage with academics, families, and their advisors under one roof.

Associate Professor of Economics Elizabeth Munnich’s research focuses on health economics, particularly the quality and costs in ambulatory surgery centers as alternatives to hospitals.

She utilized her fellowship support to hire an undergraduate economics student to provide research assistance. (The student) “made an invaluable contribution to my research, as she assembled and analyzed data about healthcare markets and asked great questions to move my projects forward,” said Munnich. She noted that the program generously supports research activities that would not otherwise be possible.

“The opportunity for faculty and students to work together on research is an awesome experience, and one that really enhances more traditional classroom learning, as well as faculty research. “ For more information on the CFE Fellows program, including a full list of current and past Fellows, visit https://business.louisville.edu/thecenter-for-free-enterprise/cfe-fellows/.

Support the UofL Center for Free Enterprise at the College of Business.

SUMMER 2023 | CURRENCY Magazine |

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Abby Sheffield, UofL student interning at Churchill Downs

UNIVERSITY OF LOUISVILLE EQUINE INDUSTRY PROGRAM

CHURCHILL DOWNS INTERNSHIPS PROVE TO BE SURE BETS Photos and story by Brendon Hobson/UofL News

The Call to Post is a familiar sound that brings excitement throughout Louisville this time of year, including for UofL College of Business students Abby Sheffield and Samantha Versocki, who are taking part in internships through Churchill Downs, Inc. Sheffield, a junior studying equine business administration, is a seasonal event coordinator at Churchill Downs, where she plans and orchestrates corporate and personal events.

This is no easy task given all the moving parts and details to manage. She also is a Keeneland College Ambassador for the Keeneland Association, where she is learning the behindthe-scenes operations of the horse industry. To

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| EQUINE INDUSTRY PROGRAM

build on her experience, Sheffield plans to work with the National Thoroughbred Association this summer in Washington, DC. Her passion for horses and connections in the industry is leading her to follow a career path in the field.

Versocki is from the small town of Saratoga, New York. The UofL sophomore plans to double major in equine business administration and marketing.

“The Equine Industry Program at UofL is the best in the country,” said Versocki, whose love for horses started at a young age.

Fueled by her passion for the horse industry and with the help of the UofL’s equine program, Versocki landed the Churchill Downs internship as a luxury concierge. She assists with numerous social occasions, many of which deal with high

profile celebrities including horse trainer Todd Pletcher who had three horses racing in the 2023 Kentucky Derby.

Both College of Business students credit UofL’s Equine Industry Program with giving them opportunities to succeed in the field they love. In addition to their work at Churchill Downs, they’ve received opportunities to participate in other internships, as well. They also acknowledge the mentorship of K. Amy Lawyer, director of the Equine Industry Program.

“She’s one of my favorite people – I can turn to her for anything,” Sheffield said.

Photo by Marvin Young

2023 KY DERBY FESTIVAL QUEEN

MAHSHAD TAHERI

by Janet Capiello

This year, three University of Louisville students — Hayley Benson, Mahshad Taheri and Valerie Tran — were on the Derby Festival Royal Court, a group that welcomes visitors from all around the world to the city and state at dozens of events.

Taheri, 21, a senior finance major in the College of Business, was crowned Derby Festival Queen at the 64th annual Fillies Derby Ball on April 15.

In addition to tiaras (and in Taheri’s case, a crown and robe), an awesome wardrobe and front-row seats to the balls, parades, and other events surrounding the Derby, the princesses each won a $2,000 college scholarship.

Candidates for the Princess Program must maintain a minimum 3.0 grade-point average and are selected by a panel of three out-of-state judges.

There were more than 100 applicants this year.

Criteria for selection includes knowledge of the Derby Festival, poise, intelligence, personality, and campus and community involvement.

The first Derby Festival Princess was crowned in 1957, the second year of the Festival. Previous princesses have included former Kentucky Gov. Martha Layne Collins and the late Gail Gorski, the first female pilot hired by United Airlines.

Churchill Downs intern and Keeneland College Ambassador Samantha Versocki

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Sophonie Bazile

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| STAFF HIGHLIGHTS

SOPHONIE BAZILE

HONORING IDENTITY

interests?’”

Not one to stay idle, once Bazile was hired at the UofL College of Business, she quickly found herself not only serving online graduate students but serving UofL in a variety of capacities, most specifically organizations she connected with on a personal level. “I think now a lot of the DEI work that I do has been more towards the different aspects of my own identity; I’m black…a woman…then LGBTQ+, I’m part of that community; I stick with the organizations that represent some aspect of my identity.”

Organizations such as the Black Faculty and Staff Association (BFSA), LGBTQ+ Faculty and Staff Association (LGBTQ+FSA), and the Commission on the Status of Women (COSW) have not only provided an opportunity for Bazile to get involved and make a difference at the University of Louisville—her efforts are changing the way some campus DEI organizations communicate with one another and the greater UofL community. Due to her proven dedication toward furthering awareness of women’s issues at UofL, she was selected as the 2023 Commissioner of the Year for COSW.

Providing communication strategies and producing communication deliverables is how Bazile supports the DEI organizations she serves at UofL, most notably as chair of the communications committee for COSW. “With the BFSA, I do a lot of what you could call communications; I put out a newsletter each week for them, so I said, ‘I can do something similar in COSW.’” Also noting the importance of providing communication accessibility to COSW, she explained that “we ended up setting up a service account recently, which I hope we will begin to use to set up meetings and communicate with people.”

Born in Haiti, Bazile moved to the United States as a young girl. Upon earning her bachelor’s degree in international studies from Bethune-Cookman University, she found herself focused on a greater purpose —better understanding issues impacting women. Bazile decided to continue her education, completing her graduate degree in women’s studies from the University of Cincinnati, before beginning doctoral work at the University of Kentucky, concentrating on human geography.

Learning of her recognition as 2023 Commissioner of the Year for COSW, Bazile noted, “I was just really surprised. I do the work; I don’t expect people to pay attention to it, and I don’t do it to get an award. I just get in and do it.”

by Erica Hulse

“Taking this role, especially moving here, has exposed me to a lot of other different organizations on campus,” shared Sophonie Bazile, Coordinator of Online Student Support & Community for the College of Business. Passionate about issues surrounding diversity, equity, and inclusion, Bazile explained, “Whenever I get to a place…I [say], ‘What can I join that aligns with my

Bazile encourages others wanting to get involved in DEI initiatives to take active steps to become an engaged volunteer. “When you find those [organizations] that interest you, get involved. Get on those executive boards and committees because it is hard to get people to volunteer their time.”

SUMMER 2023 | CURRENCY Magazine |

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| EXECUTIVE EDUCATION

INNOVATING EMPATHY 2023 NAVIGATING LEADERSHIP NOW: HUMANIZING INNOVATION

by Erica Hulse

“I think empathy was on full display,” shared Navigating Leadership Now event host Dr. Zac Goldman, reflecting on the event sponsored by the Executive Education department for the College of Business.

The second annual conference was hosted on May 17 at the Angel’s Envy Bourbon Club on the University of Louisville campus, with over 100 attendees learning from area business and educational leaders who focused on humanizing innovation. Featured presenters included Raymond Green, EdD, Kathy Gosser, PhD, Stephen Reily, Adria Johnson, Ryan Quinn, PhD, Robert Garrett, PhD, Danita Taylor, Karen Freberg, PhD, and DeVone Holt.

“Several [presenters] expressed either stories from their life or experiences that they’ve had and…it seemed like people could relate to that or connect to that in different ways. I thought that was a testament to empathy that the audience and the speakers demonstrated at a high level,” noted Goldman. Both personal and professional stories and experiences were shared at the event, some of which included cultivating intrapreneurship, identifying your invisible currency and type of leadership role, and leading from the inside out.

Goldman also recognized the high degree of engagement by the presenters and attendees on both an individual and collective level. “When that many people engage on a single subject and focus an allotted amount of time to learning and growing as a community, as a group, there’s a real power.”

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GRADUATE PROGRAMS INTERNATIONAL TRIPS Each year, cohorts of our graduate students venture across the globe to gain experiential knowledge about business abroad. This 10-day trip included nine country destination options.

See more on Instagram @UofLBiz.

Berlin, Germany & Prague, Czech Republic

Johannesburg & Cape Town, South Africa

India & Dubai, UAE

Istanbul, Turkey & Athens, Greece Singapore & Vietnam

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WELCOME NEW FACULTY & STAFF

The College of Business is proud to welcome its newest staff and

faculty to the Cardinal Community. These faces will help shape our students’ lives and enrich the University’s knowledge base.

SERGEY ANOKHIN

Assistant Professor Management & Entrepreneurship

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| FACULTY & STAFF HIGHLIGHTS

ALLISON COMMINGS

Director of Development

CHESTER DELPH

Career Coach Ulmer Career Management Center

CHRISTOPHER DYE

ANDRE FARRELL

STEPHANIE GEDDES

BRANDON HALCOMB

LAUREN JONES

RASHEDA MENDEZ

CATHERINE SKAGGS

VITALIY SKORODZIYEVSKIY

CORY WILLIAMS

Director of Marketing & Communications

Student Success Coordinator Undergraduate Programs

Academic Counselor, Sr. Advising

Academic Counselor, Sr. Advising

Admissions Counselor, Sr. Advising

Assistant Professor Management & Entrepreneurship

Graduate Internship Advisor Graduate Programs

Academic Counselor, Sr. Advising

Assistant Professor Biz Comm

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| LEADERSHIP HIGHLIGHTS

VIRGINIA DENNY

by Erica Hulse

CLEARING THE PATH

“It began earlier than it actually began,” shared Virginia Denny, Assistant Dean for Executive Education, reflecting on her extensive educational consulting and training career. “I was a kid that just loved to learn…I’ve been about learning my whole life.”

Little did Denny know that an unexpected learning opportunity at the University of Kentucky would set

Education employees who have successfully developed and implemented initiatives that aided these departments’ growth. Citing the power of giving creative space to her staff to allow them to flourish and take their work to the next level, Denny noted that “Individually connecting with the strengths and potential of each individual and creating a space for that individual to shine and grow [is important], whether that means someone stays with me in that growth or moves on to something important to them in a —Virginia Denny different way.”

I FELL IN LOVE WITH UofL, AND THE PEOPLE HERE, AND THE POSSIBILITIES

the trajectory for her entire professional career. An undergraduate communications and psychology student, she was advised to seek out and soon earned an internship assignment to work with Kentucky state government. That experience served to fuel her lifelong passion and talent for training leaders to lead.

Denny eventually developed and successfully ran her own consulting company for several years before being hired by the College of Business to assist in developing Executive Education programming.

When the Executive Education department shifted into the Delphi Center, Denny turned her attention toward continuing to deliver training to this area of UofL. Eventually, she was hired by UofL to continue her work as an employee at the Delphi Center. With the opportunity to work full-time at the University, she realized she had found a professional role where she could continue to train while gaining knowledge.

“I fell in love with UofL, and the people here, and the possibilities,” she shared. “Everywhere you turn, there’s another opportunity to learn.”

With the implementation of the Online Programs Office, Denny returned to the CoB, with the Executive Education department eventually also returning to the College. She credits key OPO and Executive

Currently, the Executive Education department provides learning and development for businesses and organizations such as Beam Suntory, Joint Special Operations Command, Home of the Innocents, YUM! Brands, and Louisville Metro Police Department. They also provide innovative and futurefocused leadership training opportunities for UofL alums and the greater Louisville community. Large “current topics” events also serve the learning needs of the business community. Denny explained that “We don’t know what the jobs of the future are going to look like. We are in this time of rapid growth and uncertainty, so we’ve all got to keep learning. For example, we run Navigating Leadership Now every year so people can get the most current knowledge about what’s changing in leadership.”

Denny encourages those in leadership roles to make space for people to excel and then stand by for their staff members to engage their strengths and forge their own unique paths. “Sometimes it is truly uncovering the way. That’s a much subtler thing.”

Additionally, she stresses the importance of leading from a place of compassion and understanding.

“There’s probably not a whole lot more important than caring about each other; the rest seems to work its way out one way or another if we just do that.”

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2023 COLLEGE OF BUSINESS

EXCELLENCE AWARDS The College of Business Excellence Awards are given annually to alumni, corporate partners, and business innovators whose contributions have impacted the local, national, and global community.

Those honored have demonstrated significant success in entrepreneurship, enthusiastic partnership with the College, or through service.

involvement and education, we work to nurture and honor exceptional innovators who show promise and have made an impact early in their careers. Recognition like this helps pave the way for future startups and works to inspire our students.

Congratulations to the following award winners:

We recognize our corporate partners, large and small, for their contributions and commitment to strengthening our business community and inspiring our students.

These sustainable partnerships between campuses, communities, and corporations enrich student learning/engagement and enhance community life.

POSITIVE LEADERSHIP AWARD Presented annually to an individual in our local professional community who has performed an act of exceptional courage, compassion, honesty, humility, generosity, resilience, curiosity, or another virtue in the workplace and inspired others to build on it, imitate, or follow along.

Adria Johnson, CEO Metro United Way

Supporting the entrepreneurship ecosystem in Louisville is part of our mission. Through

Greg Fischer, Mayor of Louisville, 2011-2022 entrepreneur, investor

ADRIA JOHNSON Positive Leadership Award

GREG FISCHER Positive Leadership Award

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| COLLEGE EXCELLENCE

CHARLIE MOYER Distinguished Service Award

JENNIFER WILLIAMS Entrepreneurship Circle of Fame Award

DISTINGUISHED SERVICE AWARD Presented to an individual who has provided extraordinary service to the College.

R. Charles Moyer, PhD, Professor of Finance, Former Dean of the College of Business NICK McRAE Rising Star in Entrepreneurship Award

RISING STAR IN ENTREPRENEURSHIP We honor Louisville alumni and those in the Louisville entrepreneurial community who show promise and have made an impact early in their careers.

Nick McRae, CEO, BroadLoop DISTINGUISHED CORPORATE PARTNER Thank you to our corporate partners, who have demonstrated extraordinary commitment to the success of the school’s students, faculty, and programs.

HUMANA, INC.

HUMANA Distinguished Corporate Partner

Tiffany Layfield and Fay Kleban Zimlich, Humana

Representing Humana at the Excellence Awards were Tiffany Layfield, Graduate Recruiting Lead/Talent Acquisition, and Fay Kleban Zimlich, Compensation Lead, Corporate/Total Rewards Organization.

ENTREPRENEURSHIP CIRCLE OF FAME AWARD Presented annually to a College of Business/University of Louisville alum who has demonstrated significant success as an entrepreneur. Names are permanently engraved in the granite monument in front of the College.

Jennifer Williams, Founder & CEO Working Title Labs SUMMER 2023 | CURRENCY Magazine | 29

BIG RED HISTORY

by Elijah Humble

Some people think it looks like a dragon, while others see a cardinal bird. And perhaps fittingly for an institution of higher business education, still others see the bull and bear of the stock market. Whatever you see when you walk past Big Red, the striking sculpture outside Frazier Hall, is open to interpretation.

And that was the concept all along.

Big Red was created by Louisville artist Tom Lear in 1989 and was dedicated in the spring of 1990. According to various local media reports and campus historical archives, the project was conceived by such illustrious College of Business alumni as philanthropist and arts patron Jane Morton Norton (sister of longtime Kentucky politician Thruston B. Morton, whose family played a role in the foundation of the Filson Historical Society) and her nephew T. Ballard Morton, as well as then-Assistant Dean Jane Goldstein. It is now surrounded by the Entrepreneurship Circle of Fame wall, which highlights legendary entrepreneurs with ties to the College of Business.

THE GOAL “The idea was to create something that would be eye-catching and fun to look at, that would symbolize the power of creativity, and… suggest possibilities rather than solutions,” said T. Ballard Morton at the time, then-Executive in Residence at the College

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| COLLEGE HISTORY

of Business. He is also a member of the Entrepreneurship Circle and Founder of the College’s Cardinal Challenge business plan competition. “I think Big Red fulfills these desires and serves as a joyful inspiration to us as we meet the challenges of change and growth.”

Goldstein had been buying art for the building from early on, trying to promote Kentucky artists, and was familiar with Lear, who ultimately earned the commission. As the project developed, Lear said, “The goal was to show the excitement of the business school and the interaction of the School of Business and the city of Louisville.”

Lear, who passed away after a sudden illness in 2000 at the age of 53, made his reputation on other notable installations at the KFC headquarters, the James Graham Brown Cancer Center and Centre College in Danville, where his “Ex Astris” sculpture (which means “from the stars”), created in 1978, resides outside the Regional Arts Center building.

It took Lear nine months to create Big Red, which is 24 feet tall and weighs three tons. The only facility that could handle the painting job was an auto dealership. He joked that he lost a couple of pints of blood while working on the project after he “cut off a little bit of his toe and burned himself severely while welding.” He said it took him two weeks after the project to return to feeling normal physically and mentally.

TRUE ARTIST Lear, a true artist with an interesting background, said, “My job is to transform physical matter into the spiritual.”

A Louisville native, he attended three different high schools in four years, and Artist Tom Lear in his studio although he graduated from UofL with a BA in Fine Arts in 1971, it took him 10 years, working odd jobs in between. He later earned an MFA from Carnegie-Mellon in Pittsburgh. He was the studio assistant to the late Sam Gilliam, an internationally-renowned artist whose work was recently featured at the Speed Museum (https://www.speedmuseum. org/exhibitions/sam-gilliam-1933-2022/). Lear’s father owned and ran the W.T. Lear Fence Company, which he said taught him general building skills and a “Great Depression” work ethic.

helping a friend fix another flat tire later that same day.

Lear’s creation quickly gained admirers within the College of Business. “When I came around the corner of the music building heading to the business school and saw it, I almost ran off the road,” said Morton. Goldstein added: “I find the sculpture delightful. It shows the School of Business is a progressive, exciting school on the cutting edge, and…that we have a sense of humor.”

LEGACY Big Red has become a permanent fixture on the northern side of Belknap campus, and to this day, it surprises and inspires. Hopefully, this would give its creator some satisfaction.

“More than anything, I hope people stop and take a look at it,” Lear said at the time. “After they walk by it again sometime in the evening or even 10 years from now, I hope they see something new that surprises them.”

His home studio on Barrett Avenue was reportedly an extension of his personality. “It almost qualifies as a sculpture itself,” according to the Courier Journal in 1979. It included welding equipment, metal-cutting devices, hoists, and other tools. According to local blacksmith and friend, sculptor Craig Kaviar, the studio was built around a tree that had grown indoors, which had gained the attention of building inspectors and nosy neighbors.

“Everybody is friendly here except perhaps for one lady who keeps sending the zoning board,” Lear said. “They’ve been here half a dozen times.”

INSTALLATION Big Red was installed on one of the coldest days in December 1989, with last-minute complications with the crane, moving trailer, permits, and securing a police escort. The trailer had a flat tire on the expressway, and one of the cranes broke. Even after Big Red was secure at its resting place on campus, Lear found himself

Big Red installation, December 1989

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ANNE MARIE ZWERG-VILLEGAS

RESEARCH HIGHLIGHT

Veterinary medicine is one of many professions

interviews with veterinarians, they discovered

filled with individuals who feel called to work in

that the process of experiencing a calling varied

their chosen field.

in different ways, such as a calling to be a veterinarian, to do the work of a veterinarian, or

Anne Marie Zwerg-Villegas, PhD, along with co-authors Bruno Felix, PhD, and Ana Maria Souza Dos Santos, considered how veterinarians manage the challenges of their professional calling in their study, “Overcoming the challenges of living an occupational calling: a study with veterinarians,” published in the September/October 2022 edition of Cadernos EBAPE.BR.

to contribute toward helping to heal animals as

Zwerg-Villegas and co-authors focused on being called into a profession—in this case, veterinary medicine. Through a series of narrative

overcome those concerns, including social media

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| INSPIRING RESEARCH

part of a greater purpose or cause.

Depending on how interviewed workers were called into their profession, Zwerg-Villegas and co-authors noted that there was a marked difference in both short- and long-term emotions and challenges that came from living that profession, as well as ways in which the veterinarians developed coping strategies to branding, seeking out pleasurable work activities, and increasing social activism.

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SUMMER WINTER 2023 2022 | CURRENCY Magazine |

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RESEARCH ROUNDUP As an R1 institution, creating new knowledge is at the core of what we do. The College of Business celebrates our faculty’s research contributions to their respective fields in this quarterly summary of publications and reports.

ACCOUNTANCY Dereck Barr-Pulliam, PhD, Helen L. Brown-Liburd, Amanda Gates Carlson. (2023) “Do Audit Data Analytics Influence Juror Perceptions of Audit Quality and Auditor Negligence?” American Accounting Association.

Dereck Barr-Pulliam, PhD. (2023) “The ChatGPT Artificial Intelligence Chatbot: How Well Does Iit Answer Accounting Assessment Questions?” Issues in Accounting Education.

Dereck Barr-Pulliam, PhD, Zimmerman, A. Lee, J. Minutti-Meza, M. (2023) “Auditors’ Use of In-House Specialists” Journal of Accounting Research.

Julie (Ying) Huang, PhD, Minjie Huang, PhD. (2022) “CEO Incentive Alignment: Intensity and Time Horizon” Journal of Accounting, Ethics and Public Policy.

Benjamin P. Foster, PhD, Lisa M. Blum, LLM. (2022) “Manufacturer’s Reporting of Abnormal Excess Capacity Costs: Evidence from COVID-19 Disruption and Suggestions for the Future” Journal of Accounting, Ethics and Public Policy.

Benjamin P. Foster, PhD, Andrew S. Manikas, PhD. (2022) “Sustainability Standard Setting: Diversity and Inclusion as an Example” Cost Management.

ECONOMICS

Weihua Zhao, PhD, David P. Agrawal. (2023) “Taxing Uber” Journal of Public Economics.

Per G. Fredriksson, PhD, Satyendra Kumar Gupta.

(2023) “Irrigation and Gender Roles” Journal of Development Economics.

Elizabeth Munnich, PhD, Alice J. Chen, Stephen T. Parente, Michael R. Richards. (2023) “Provider Turf Wars and Medicare Payment Rules” Journal of Public Economics.

Jose Manuel Fernandez, PhD, Conor Lennon, Keith F. Teltser. (2023) “How Morality and Efficiency Shape Public Support for Minimum Wages” Journal of Economic Behavior & Organization.

Jose Manuel Fernandez, PhD, Monica Garcia-Perez, Sandra Orozco-Aleman. (January, 2023) “Unraveling the Hispanic Health Paradox” Journal of Economic Perspectives.

Thomas E. Lambert, PhD. (2022) “The Great Resignation in the United States: A Study of Labor Market Segmentation” Forum for Social Economics.

Elizabeth Munnich, PhD, Chen, A., Parente, S., Richards, M. (2022) “Do Physicians Warm up to Higher Medicare Prices? Evidence from Alaska” Journal of Policy Analysis and Management.

EQUINE Thomas E. Lambert, PhD. (2023) “US Gambling Stagnation: Will New Gambling Forms Make a Difference?” Critical Gambling Studies.

Thomas E. Lambert, PhD. (2022) “The Baran Ratio, Investment, and British Economic Growth and Development” Journal of Post Keynesian Economics.

FINANCE Connect to our Research: https://business.louisville.edu/ faculty-research/researchpublication/ 34

| RESEARCH ROUNDUP

Xudong Fu, PhD, Tang, Z. Leo, E. Hull, C. Stromeyer, W. (2023) “When Consumers Lose Power: An Examination of the Stakeholder Dynamics in the Pharmaceutical Industry” Business Ethics, the Environment & Responsibility.

INFORMATION SYSTEMS, ANALYTICS, & OPERATIONS Ghiyoung Im, PhD, Park, E. Zhang, J. Lee, Y. Chun, K. Park, Y. (2023) “The Impacts of Role Overload and Role Conflict on Physicians’ Technology Adoption” Australian Journal of Information System.

Ghiyoung Im, PhD, Manju Ahuja, PhD. (2023) “The Interdependence of Coordination and Cooperation in Information Technology Outsourcing” Informations Systems Research.

MANAGEMENT & ENTREPRENEURSHIP James O. Fiet, PhD, Tae Jun Bae. (2023) “IntraStakeholder Heterogeneity Perspective on the Hybridity of Competing Institutional Logics for Social Enterprises” Social Business and Impact for Sustainable Growth.

Anne Marie Zwerg-Villegas, Amitabh Anand, Daniel Rottig, Nakul Parameswar. (2023) “Diving Deep into the Dark Side: A Review and Examination of Research on Organizational Misconduct in Emerging Markets” Business Ethics, the Environment & Responsibility.

James O. Fiet, PhD. (2023) Informational Entrepreneurship in a World with Limited Insight.

Robert P. Garrett, Jr., PhD, Russell E. Browder, Cole J. Crider. (2022) “Hybrid Innovation Logics: Exploratory Product Development with Users in a Corporate Makerspace” Journal of Product Innovation Management.

Daniel Bennett, PhD, Christopher J. Boudreaux, David S. Lucas, Boris N. Nikolaev. (2022) “Taking Mental Models Seriously: Institutions, Entrepreneurship, and the Mediating Role of Socio-cognitive Traits” Springer.

Anne Marie Zwerg-Villegas, César A. BernalTorres, Ulf Thoene, Fernando Camacho, Luz Elena Guzmán-Ibarra, Efraín Torralba-Chávez. (2022) “The Relationship between Human Resource Diversity, Innovation Activity and Internationalization Intensity in Colombian and Mexican Firms” Global Business Review.

Anne Marie Zwerg-Villegas, Bruno Felix, Ana Maria Souza dos Santos. (2022) “Overcoming the Challenges of Living with an Occupational Call: A Study with Veterinarians” Cadernos EBAPE.BR. SUMMER 2023 | CURRENCY Magazine |

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