FISHER NEWS November 17, 2006
  In this issue

Fisher finance scholars participate in first SEC 'natural experiment'

Emily Douglas: A profile in community leadership

Minimally Invasive Devices takes third in Fortune Small Business plan competition

Fisher hosts Biz Quiz, CIBER competitions

Highly committed consumers likely to put up a fight for their favorite brands

COE announces scholarship named for William Berry

Fisher People: Erin Smith
Go Bucks! Beat Michigan
Fisher College of Business
Scholar SpotlightFisher finance scholars participate in
first SEC 'natural experiment'

Ingrid Werner
The SEC invited Ingrid Werner, the Martin and Andrew Murrer Professor of Finance, to participate in a Sept. 15 roundtable to discuss a Fisher team's study of the recent change in short-sale rules, which is part of SEC’s Regulation SHO.

Werner, along with colleague Karl Diether, assistant professor of finance, and doctoral student Kuan Hui Lee, analyzed the effects of the new rules.

The SEC pilot is a large scale “natural experiment” which suspended the New York Stock Exchange uptick rule on short-sale price tests and NASDAQ-bid price rule for 1,000 stocks. A control group of 2,000 listings continued to trade under the old rules. The stocks were drawn from the Russell 3,000. The Fisher team was asked to examine the effects of the suspension of the rules on the market.

While the team did not discover a dramatic change, they found the suspension of the rules had a statistically significant effect on NYSE-listed stocks. "NASDAQ stocks appeared to be unaffected because that market had less onerous restrictions on short-sales to start with," Werner said. Read More »

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Emily Douglas: A profile in community leadership
Emily Douglas
At age 11, Fisher graduate student Emily Douglas launched an enterprise that today conducts $2 million worth of transactions annually.

Although Douglas’s “Grandma’s Gifts” is a charitable organization, she has come to realize through her classes and professors at Fisher that the charity’s success is due to the fact that she’s managed it like a business operation.

Douglas created Grandma’s Gifts to provide food, clothing, books, toys and educational opportunities to children from low-income families in rural Appalachia towns in Ohio, West Virginia and Kentucky.

Help Emily by voting for her in the Volvo for Life Awards under the nominees from Ohio or visit Grandma's Gifts online

Now a second-year student in the Master’s in Labor and Human Resources program, Douglas is beginning to see the relevance of her studies to running her community service organization.

“Business school has taught me that there are a lot of similarities in running for-profit and non-profit organizations,” Douglas said. “I have balanced budgets, raised money, managed logistics and created a Web site. I created a mission and set goals. I do everything a business owner would do.”

Her work has received national recognition. Douglas is the recipient of one of the highest White House honors for civilians, the President’s Service Award, and she was featured on Oprah for her work. Grandma’s Gifts is now a finalist for a Volvo for Life award in the Quality of Life category. Winning the award could bring in $50,000 for the organization.

Douglas credits the growth of Grandma’s Gifts over the last 13 years to merging a personal passion with experiential learning, class work and good, old-fashioned life lessons taught by her family, especially her grandmother. She is appreciative of the education she is receiving at Fisher and its faculty in helping her think more strategically.

“Emily is a gifted individual with strong analytical skills as well as interpersonal skills,” said Professor Robert Henenman, director of the Master’s in Labor and Human Resource program. “It’s hard to find that combination of skills in many individuals. That is why she is so successful.”

Douglas has received encouragement from others to make Grandma’s Gifts her career. However, she balks at the notion of turning her public service work into a profession. She considers it her life’s work.

“Many people think I have a ready-made job set up for myself after graduation,” Douglas said. “But I have an issue and a problem with being paid to help others. My grandma wouldn’t approve. I was taught that’s how people are supposed to be; it’s a way of life.”

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Minimally Invasive Devices takes third in Fortune Small Business plan competition
Minimally Invasive Devices Inc. (MID) came in third place in Fortune Small Business magazine’s fourth annual Student Showdown to find the next best new business. The company that was started in January emerged from a field of 38 teams of business plan contest winners from the top universities and business schools to become a finalist in the competition.

MID, winner of the 2006 Deloitte Business Plan Competition hosted by Fisher’s Center for Entrepreneurship, is developing a suite of innovative disposable tools for improving the efficiency and quality of minimally invasive surgery. The first invention is Clear-Vu, a device that will defog a surgeon’s laparoscope during surgery. The company’s design will radically improve the surgeon’s ability to see clearly during hours of minimally invasive surgery. MID is in the process of securing a patent for the design.

“We are proud of MID’s accomplishments in reaching the final round of the Fortune Small Business plan competition,” said Michael Camp, academic director for the Center for Entrepreneurship. “MID is an exciting company which represents the essence of the entrepreneurship program at Ohio State. This is the kind of results oriented approach to entrepreneurship we emphasize.”

Throughout the final round, MID’s leadership had to pitched their plan to a panel of nine judges, which included entrepreneurs, venture capitalists, consultants and an academic. The founding management team included Jodi Wolfe, a recipient of the center’s Wheeler Entrepreneurship Internship award and a candidate for a master’s degree in health administration and MBA.

This is the second time in three years the winner of Fisher’s business plan competition has been a finalist in the magazine’s national competition. In 2004, a team of Fisher Executive MBA students won with Vertebration Inc. The team proposed the development of an implant used to fuse adjacent vertebrae together and the corresponding implantation instruments.

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Fisher hosts Biz Quiz, CIBER competitions
Fisher students (from left to right) Xiao Sun, Nicole Alex and Daniel Irby discuss the answer to a question during the team round of the first Fisher Biz Quiz National Challenge held on campus Nov. 4.

Fisher became the hub of undergraduate competitions the first week in November with students on campus for both the Fisher Biz Quiz National Challenge, co-sponsored by Nationwide and The Wall Street Journal, and the 2006 CIBER Case Challenge. More than 80 students representing schools from across the country, Canada, Singapore and New Zealand were in search of top honors at the competitions.

Michigan State’s Broad College of Business team were the overall winners in the first Fisher Biz Quiz National Challenge. The trio bested second place Wake Forest University and the Penn State team, which finished third in the final round of the game show style competition. Penn State had the highest point total on questions from the Journal’s front page and money and investing section, while Michigan State took top honors for questions from the marketplace section.

Rich Opitz, of the University of Minnesota, had the highest score in the individual round, while Nathan DeBoe of Michigan State was second and Andrea Bailiff of Purdue University finished in third place.

At the three-day CIBER Case Challenge, presented by Fisher's International Programs and the Center for International Business Education and Research, the team from Brigham Young University’s Marriott School of Management took top honors for its solutions to help the Asian Paint Co. generate high growth from its international strategy. Student teams of four evaluated the company’s current international strategy, assessed its core competencies, considered market potential in the paint industry and provided recommendations on its future strategic directions.

The team from Concordia University’s Molson School of Business and University of Southern California’s Marshall School of Business finished second and third respectively in the competition.

Event sponsors and partners were Cintas, Graphic Awards, Honda, Domino’s Pizza and Coca Cola Co.

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Highly committed consumers likely to put
up a fight for their favorite brands

H. Rao Unnava
Negative attacks against brands and retailers are sure to irk corporate officials. A new study has found that highly committed customers are also likely to become emotionally defensive and even have a physical reaction over disparaging comments against their favorite brands.

While previous studies have shown that zealously loyal consumers are likely to provide counterarguments, this is the first research to reveal that arousal sparked defense mechanisms, said H. Rao Unnava, the W. Arthur Cullman Professor in Marketing and co-author of the study published in the September issue of the Journal of Consumer Research.

The study’s authors found that devoted consumers resorted to counter arguments as a way to discredit the negative attacks and provide a release from the physiological arousal caused by them.

When these consumers were unable to defend their views, the emotional and physiological arousal remained high, causing them to continue to sweat and breathe rapidly, according to the study. Read More»

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Center for Operational Excellence announces scholarship named for William Berry
A new scholarship in honor of William L. Berry has been established to support MBA students pursuing careers in operations management. Berry is the Richard M. Ross Chair in Management and co-director of the Center for Operational Excellence. The William L. Berry Scholarship Fund was announced at a Nov. 15 dinner at the Blackwell honoring Berry for his 40 year career.

William L. Berry
“Bill is internationally recognized for his leadership in manufacturing strategy and planning and control systems,” said John Dix, co-director of the COE. “This scholarship was created to salute the contributions Bill has made to management education, industry and to the member companies of COE.”

Berry joined Fisher in 1991 and is recipient of three Best MBA Instructor awards and the Norman Dudley Award for the best research paper in the International Journal of Production Research. Prior to joining Fisher’s faculty, he taught at the universities of North Carolina and Iowa, Indiana University and Purdue. He is a widely published scholar and editor of several professional journals. He is past president of the Decision Science Institute and the Operations Management Association, which presented him with a Distinguished Leadership Award.

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Fisher People: Erin Smith
Title: Program Assistant to Alumni and Communcations. Starting Dec. 4 she will be a Human Resources Assistant in the Fiscal office.

Hobbies: "Spending time with family and friends, watching OSU football and Cincinnati Reds baseball and selling Henn (pottery, baskets, and candles) products."

FisherLure: "I like working at Fisher because of the number of opportunities that are available to faculty, staff and students. The college is always evolving and changing to provide so many new opportunities and options to all involved with Fisher. "

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Calendar of Events

Nov. 21
A representative from The Scotts-MiracleGro Company will share information about internship and full-time job opportunities at the MBA Marketing Association meeting from 12:30 to 1:30 p.m. in 355 Gerlach Hall. More information is available online at

Jon Willette, partner of Four Points Real Estate Development Ltd. will discuss the entrepreneurial perspective on commercial real estate development as a part of the Fisher Real Estate Society (FRES) Executive Lunch from 12:30 to 1:30 p.m. in the Graduate Programs Conference Room. The lunch is open to FRES members and more information is available at

Preethi Rajendran of Abercrombie & Fitch will be the featured speaker at the Transportation and Logistics Association meeting at 7 p.m. Pizza will be served in 209 Schoenbaum Hall and the meeting will move to 315 Schoenbaum at 7:30 p.m. for the presentation. More information is available online at

Nov. 28
A campus recruiter from Columbus accounting firm Ary Roepke Mulchaey and Stevenson will speak at the OSU Accounting Association meeting from 7:30 to 8:45 p.m. in 320 Schoenbaum Hall. More information is available online at acctassn.

John Hutchinson of Owens Corning will be the featured speaker at the Transportation and Logistics Association meeting at 7 p.m. Pizza will be served in 209 Schoenbaum Hall and the meeting will move to 315 Schoenbaum at 7:30 p.m. for the presentation. More information is available online at

Nov. 29
First-year MBAs will have an opportunity to meet with Fisher Graduate Student Association representatives to share and discuss ideas and help shape an agenda for action during a town meeting from 12:30 to 1:30 p.m. More information is available online at

A recent panel of Fisher graduates will speak at the the American Marketing Association meeting at 7:30 p.m. in 330 Schoenbaum Hall. More information is available online at

Dec. 1
The Operations and Logistics Management Association will hold its quarterly seminar for second-year MBA students from 1 to 4 p.m. in 140 Pfahl Hall. More information is available online at

Fisher Indoor Games will be held from 8 a.m. to 6 p.m. at the Adventure Recreation Center, 855 Woody Hayes Drive. Registration for the event will be held from 12:30 to 1:30 p.m. on Nov. 20 to Nov. 29 in the Chase Graduate Student Lounge and more information is available online at

MAcc students are invited an autumn quarter reception to welcome the new class and congratulate the graduating class. The reception will be held from 6 to 8 p.m. at the Faculty Club, 181 S. Oval Drive and reservations must be made by Nov. 20. More information is available online at fisherrsvpstudent

News Briefs

Leone receives Ginter teaching award
Robert P. Leone
, professor of marketing, was presented with the 2006 James L. Ginter MBA Marketing Elective Teaching Award at the October Department of Marketing and Logistics faculty meeting.

This is the third time Leone has received this recognition, which is based on a vote of all second-year marketing MBA students.

The award was established upon James Ginter's retirement in 2003 by the faculty as an expression of their appreciation for his decades of service to the department and the college.

Benton, Fellingham appointed to endowed chairs
The Ohio State Board of Trustees approved the appointment of two faculty members to endowed chairs. W.C. Benton, Jr., has been named professor and holder of the Edwin D. Dodd Professorship in Management through Sept. 30, 2011. John C. Fellingham has been named professor and holder of the H. P. Wolfe Chair in Accounting through Sept. 30, 2008.

News Briefs

Oded Shenkar, professor of management and human resources, was quoted in the Nov. 14 edition of the Chicago Tribune on the Chinese investment in American businesses.

Shenkar said the amount of money poured in from China last year totaled $8.84 billion in more than 50 foreign deals.

H. Rao Unnava, professor of marketing, was quoted in a Nov. 9 edition of the Columbus Dispatch on a local nursery attracting new customers because it supplied the latest batch of sod used in Ohio Stadium.

Unnava said the nursery should use the frenzy involving the Buckeyes to capture new business from consumers and other sports venues.

Bill Raabe, senior accounting lecturer, was quoted in a Oct. 29 Chicago Tribune column on tax tips for retirees.

Raabe commented on a new tax law that allows Americans over the age of 70 ½ years to withdraw up to $100.000 from IRAs tax free to contribute to charitable organizations. He said the law is the most significant tax break for charities in decades.

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