January 27, 2006   Han publishes research on stock performance New awards added to business plan competition Fisher Futures information sessions begin Feb. 10 MBA case team participates in “Rose Bowl” FisherPeople: Sue Meier Han publishes research on stock performance A new study suggests that investor psychology plays a big role in why stock prices show strong momentum – the tendency for prices to continue in the same direction, either rising or falling. While stock analysts and researchers have long known about stock momentum, there has been debate about what causes it, said Bing Han, co-author of the study and assistant professor of finance. “We found that it is a type of psychological bias on the part of many investors that seems to drive momentum,” Han said. “Investors tend to hold on to their losing stocks too long and sell their winners too quickly. This triggers momentum.” Han conducted the study with Mark Grinblatt of the University of California at Los Angeles. Their results appear in a recent issue of the Journal of Financial Economics. The tendency to hold on to losing stocks and sell winners is called the disposition effect, Han said. If many investors fall prey to this type of bias, it will affect stock momentum. Back to Top New awards added to business plan competition Two new awards have been added to the 2006 Fisher Business Plan Competition. In addition to more than $120,000 in start up funds and services, the business plan competition has announced a new cash prize which will be awarded to the top undergraduate team. The award is a $2,000 scholarship to be divided among the winning team according to the level of participation by each member. Graduate student team entrants presenting a start-up company in central Ohio are eligible for the “New Business Builders MBA Competition Award.” Sponsored by the Kiwanis Club of Columbus, the Fisher graduate team selected for the award will represent Ohio State in a competition among MBA candidates from four central Ohio universities. The Fisher team will compete against entrants representing Capital University, Franklin University and Ohio Dominican University. Competitors will submit a business plan for a start up company in central Ohio. A panel of judges consisting of three business leaders, one entrepreneur and one member of the Kiwanis Foundation will determine the winner. Plans will be evaluated on economic viability and likelihood of success. The Kiwanis will present a $10,000 to the winning team. Registration deadline for the 2006 Fisher competition is midnight, Sunday, Feb. 5. Team registration and more information are available online at http://entrepreneurship.osu.edu. Back to Top Fisher Futures information sessions begin Feb. 10 Career Services was no longer going to concede defeat to the business schools of the Northeast and the Ivy League schools when it came to placing interns on Wall Street. “We knew we weren’t a target school for Wall Street,” said Margie Bogenschutz, director of the undergraduate internship program. “So what we decided to do was to differentiate our students.” That objective led to the creation of Fisher Futures. The program identifies and screens qualified undergraduate students who have a serious desire to work on Wall Street. Career Services will hold five information sessions beginning in February. The purpose is to provide detailed information about the application process to interested students. Students go through a rigorous application process that includes meeting strict academic criteria, interviews, completion of an analytical assignment and reading and writing reports on investment banking books. The Fisher Futures information sessions will be held at 12:30 p.m. Feb. 10, 24, March 2, 10 and April 7, in 150 Gerlach Hall. The sessions will include a pizza lunch. Students interested in attending must RSVP by calling 292-6024. Back to Top MBA case team participates in “Rose Bowl” The MBA program’s Big 10 Case Team won "best and most creative solution" in the first round of the "Rose Bowl" case competition at Arizona State University on Jan. 14. The competition pitted the three winning schools from last year's Big Ten and Pac Ten case competitions. Ohio State, Wisconsin, and Penn State represented the Big Ten, and Arizona State, University of Southern California, and Washington State University represented the Pac Ten. Fisher's competition team was comprised of MBA 2007 students, Shibani Potnis, Matt Eisenacher, Ray Vargas and David Friedrich. The case team was accompanied on their trip to Phoenix by their coach, Marc Ankerman. Back to Top FisherPeople: Sue Meier Title: Office Manager, International Programs-CIBER Hobbies: "Sewing, gardening and hanging out with my kids." FisherLure: “I enjoy working with dynamic, interesting people everyday and I also enjoy working with grad students, they keep me young.” Back to Top Feb. 3 Department of Marketing and Logistics Research Colloqouium: Prof. Rob Palmatier, University of Cincinnati, will speak on the topic "Loyalty to Home" at 10:30 a.m. in 500 Fisher Hall. Feb. 6 Information session on Nantes, France summer study abroad program, 7:30 p.m. in 230 Schoenbaum Hall. Feb. 10 Fisher Futures information sessions will be held at 12:30 p.m. in 150 Gerlach Hall. The sessions will include a pizza lunch. Students interested in attending must RSVP by calling 292-6024. Feb. 17 Gordon Tytler, vice president of supply chain management, Rolls Royce, COE Morning Professional Development Seminar, 10:30 a.m. 140 Pfahl Hall. Miles Arnone, co-author of "American Trading Partners, the Good, the Bad and the Ugly," and an operating principal at American Capital Strategies, COE Afternoon Professional Development Seminar, 1:30 p.m., 140 Pfahl Hall. Alutto re-appointed to five-year term Executive Vice President and Provost Barbara Synder reappointed Dean Joe Alutto to a five-year term as dean of Fisher effective July 1, 2006 to June 30, 2011. Cooper addresses NJ SOLE Martha Cooper, professor of marketing and logistics, spoke at the Garden State Chapter of the Society of Logistics Engineers in Monmouth, N.J. on Jan. 17. The topic was “Supply Chain Postponement/Speculations Strategies: How to Choose the Right Ones.” Ph.D. candidate presents paper at conference Nicole Votolato, a doctoral student in marketing, will present "Why We Give: An Investigation of the Donor Decision Process" at the Society of Consumer Psychology Conference, Feb. 9-13 in Miami. Marketing student presents paper to AMA educators Randy Raggio, a doctoral student in marketing, will present “The Theoretical Separation of Brand Equity and Brand Value” at the American Marketing Association Winter Educators Conference, Feb. 18-19 in Tampa. Nantes, France summer abroad information session, Feb. 6 The Undergraduate Programs Office is holding information sessions on the Nantes, France Summer study abroad program at 7:30 p.m. Monday, Feb. 6 in 230 Schoenbaum Hall. The Nantes summer program will expose students to the business and finance environment in Europe and current issues facing the European Union. Classes are taught in English and students will have the opportunity to live with a French family and travel throughout Europe. AIESEC chapter recruiting for work exchange program Ohio State’s chapter of AIESEC, the world’s largest student-based organization and international work exchange program, is currently recruiting students with skills and interest in sales for positions with companies in Columbus and the greater metropolitan area. AIESEC provides experience in sales negotiations, contract writing and customer contract delivery. There are also opportunities to work abroad. Applications and more information are available online at www.aiesecus.org/register or by emailing OhioStateRecruit@yahoo.com. To submit story ideas, e-mail content and your contact information to fishernews@cob.osu.edu or use the online news submission form. The deadline for story submissions is 5 pm every Friday. Note: You are receiving this newsletter as a student, faculty or staff member of the Fisher College of Business. If you are receiving this e-mail in error, please send an e-mail to fishernews@cob.osu.edu