|$1 million gift from Nationwide Insurance
support new finance curriculum, research
Fisher College of Business has received a $1.08 million gift from Nationwide Insurance to create an enhanced risk management curriculum and to support finance research at Fisher by naming Nationwide Fellows and Scholars.
Offered through Fisher’s Department of Finance, the new risk management curriculum will help the college expand its course offerings in a field that is growing rapidly. Additional coursework in risk management will be introduced, complementing the pre-existing corporate and investments financial management majors currently available. The Finance Department at Fisher and Nationwide executives will also make joint presentations to Nationwide interns on current issues in finance. Fisher finance professor Andrew Karolyi, who holds the Charles R. Webb Designated Professorship, has been named as the first Nationwide Fellow.
“We are very grateful to Nationwide for this generous gift, which will help Fisher maintain its leadership position in business education and financial research,” said Stephen L. Mangum, interim dean of Fisher College of Business. “Fisher’s collaboration with leading corporations such as Nationwide advances our mission of providing future business leaders with world-class management education and conducting relevant research that has direct and lasting impact on the global business community.”
“Nationwide is excited to support the Fisher College of Business in the development of its new risk management curriculum,” said Larry Hilsheimer, executive vice president and CFO of Nationwide Insurance. “The new program will not only advance the academic offerings at one of the most prestigious business colleges in the country, it will also provide employers, including Nationwide, the ability to recruit students with the cutting-edge skills we need, right here in our own backyard.”
Fisher’s Department of Finance faculty, ranked in the top 10 for research productivity, will work with Nationwide’s executives in the development of the new curriculum. Executives from Columbus-based Nationwide have also committed to fostering stronger ties to the college as a resource for business research.
“We have elevated our relationship with Nationwide to a new level of collaboration that will be mutually beneficial to the Fisher community and the company,” said Anil Makhija, the Davide A. Rismiller Professor of Finance and chair of the Department of Finance. “Nationwide’s gift to Fisher demonstrates the company’s commitment to excellence through supporting the development of future business leaders and cutting-edge research.”
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Service-learning trip to Nassau, Bahamas
meaningful experience for honors cohort students
Winter break was a time for service-learning and fun in the sun for some Fisher Honors Cohort students. Twenty-four students from the program accompanied by their advisor and a graduate assistant traveled to Nassau, Bahamas to teach Junior Achievement to elementary school students.
Two Bahamian elementary school students display a Junior Achievement lesson explaining the functions of a community. For the second straight year, Fisher Honors Cohort students traveled to the country to teach fundamental business concepts.
Throughout the academic year, cohort students teach in local Columbus schools in partnership with Junior Achievement of Central Ohio. Junior Achievement is a worldwide non-profit organization of volunteers who teach fundamental business concepts such as basic financial literacy and entrepreneurship in elementary and high schools.
“This was an educational experience due to the drastic difference among youth in the Bahamas and in Columbus,” said Rachel Jordan, a senior majoring in marketing.
According to Nancy Lahmers, Honors Cohorts program advisor, the Fisher students taught second- and third-grade Junior Achievement materials, that covered the themes “our community” and “our city” to children in disadvantaged schools in Nassau. The exercises assigned to the young students included constructing paper buildings, mapping out cities, writing newspaper articles, developing plans for a dining business and examining the roles of banks in the economy. Read More»
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Search committee for Fisher’s next dean formed
Ohio State University Executive Vice President and Provost Joseph A. Alutto has appointed a 17-member search committee to conduct the search for Fisher’s next dean.
The group of faculty members, administrators, business leaders and one student will be charged with finding a successor to Alutto, who served as the dean of Fisher from 1991 to 2007 before becoming OSU’s chief academic officer.
“This is a diverse and exceptional group of stakeholders who will be tasked with identifying and recruiting the very best candidate to lead Fisher College into a new era of management education,” Alutto said.
The search committee will be chaired by Dr. Wiley W. Souba Jr., dean of the College of Medicine, interim senior vice president and executive dean for health sciences and interim CEO of The Ohio State University Medical Center.
Joining Souba on the search committee are: Anil Arya, John J. Gerlach Chair in Accounting, Jay B. Barney, Chase Chair for Excellence in Corporate Strategy, Annette L. Beatty, Deloitte and Touche Chair in Accounting, W. C. Benton, Edwin D. Dodd Professor in Management, Keely L. Croxton, associate professor of marketing and logistics, Benjamin P. Hummel, MBA student, W.G. (Jerry) Jurgensen, CEO of Nationwide Insurance and Dean’s Advisory Council member, Roy J. Lewicki, Irving Abramowitz Memorial Professor, Anil Makhija, chair of the Department of Finance and David A. Rismiller Professor in Finance, James D. Miller, associate to the dean and executive director of the Office of External Relations, Hazel A. Morrow-Jones, associate professor at the Knowlton School of Architecture, Martin C. Murrer, managing director of Sagent Advisors Inc. and Dean’s Advisory Council member, Gene Smith, Ohio State athletics director, René M. Stulz, Everett D. Reese Chair of Banking and Monetary Economics, H. Rao Unnava, associate dean of undergraduate programs and W. Arthur Cullman Professor in Marketing, and Karen Hopper Wruck, associate dean for MBA programs and Dean’s Distinguished Professor.
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MBA students winners in early round
of East-West Case Competition
Fisher MBA case team beat out University of Chicago Graduate Business School, University of Virginia’s Darden School of Business and host school Cheung Kong Graduate School of Business in the first round of competition at the 2008 East-West MBA All-Star Case Challenge on Jan. 4.
MBA students Ben Hummel (from left), Jamie Levine, Mandi Stowers and Christina Deitch present in front of Chinese national media and an audience of 400 people during the first round of the 2008 East-West MBA All-Star Case Challenge on Jan. 4 in Beijing.
In front of Chinese national media and an audience of 400 people in the Beijing Hyatt Grand Ballroom, first-year MBAs Mandi Stowers and Ben Hummel, and second-year MBAs Jamie Levine and Christina Deitch presented their case to judges and business executives during the second round. The team finished in second place.
Fisher’s team was accompanied and coached by Kewei Hou, assistant professor of finance, and Marc Ankerman, a senior lecturer in management and human resources. Ankerman also served as a judge.
Fisher was among eight business schools from the U.S., China and Singapore that competed. Students analyzed Tsingtao Beer’s current U.S. marketing strategy and made innovative proposals for 2008. The panel of 12 judges included senior executives from Tsingtao, their U.S. distributor Crown Imports, as well as professors from several business schools. According to officials at Cheung Kong, it was China’s first international case competition featuring teams from the East and West. Read More»
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Wruck presents at AEI
conference in Washington
A two-day conference in Washington, D.C. examining private equity featured a presentation by Fisher’s Karen H. Wruck, associate dean for MBA programs and Dean’s Distinguished Professor, discussing its impact on corporate control.
Hosted by the American Enterprise Institute for Public Policy Research on Nov. 27-28, the event brought together leading financial economists and practitioners for a detailed evaluation of the private equity sector, which included presentations and panel discussions on significant historical events and various perspectives on future trends.
In Wruck’s presentation, she discussed how the so-called “Golden Age” of private equity has led to two major achievements. The first she identified is the reinvention of the market for corporate control.
According to recent data, private equity was involved in up to 30 percent of the merger and acquisition market in 2006. As a result, providers of capital now compete for the right to govern corporations.
“This private equity cycle is different than what we experienced in the ‘80s,” Wruck told the audience. She said private equity’s reinvention “will be a permanent feature of the way the market for corporate control works here in the United States.”
The second major achievement of private equity players has been greater influence on corporate reorganization. Calling the second achievement “routinization,” Wruck said private equity players are acting as a bridge between capital markets and corporate management and strategy.
On the surface, the private equity sector appears to be about markets and transaction, Wruck said. However, research and case studies of corporate buyouts have offered evidence that the sector’s objectives are focused on value creation.
According to Wruck, the private equity sector is driving trends such as governance by smaller boards with directors who have significant equity ownership; decentralized decision-making; and performance measures that emphasize cash-flow generation and long-term value creation.
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Hong Kong business students participate in the college's first short-term exchange program
Business students from the Hong Kong University of Science and Technology listen to a lecture on logistics and supply chain management in the United States. Seventeen students traveled to the United States through a new short-term exchange program offered by Fisher’s International Programs office.
The students attended lectures on venture capital and private equity, strategy and retail markets. The exchange program also incorporated tours of area business including Exel Logistics and National City Bank. They also toured Ohio’s Amish country and the Rock and Roll Hall of Fame in Cleveland. Students will depart on Jan. 12.
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Fisher People: Cathy Forte
Title: Assistant to the Dean
Hobbies/interests: "I am boring – I mostly work, but I like to do Sudoku and crossword puzzles. For years my husband and I have had a weekly Euchre game with our good friends who we also travel with. I have fond memories of reading books. I’m thinking of doing that again."
"The opportunity to do more than I’ve ever done in an atmosphere where I don’t have to be afraid to make a mistake. I cannot over state what that has meant to me."
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Jan Valentic, executive vice president of marketing at The Scotts Miracle-Gro Co, will speak as a part of the Cullman Executive Lunch Series from 12:30 to 1:15 p.m., 161 Gerlach Hall. More information is available online at the Leadership & Professional Development HUB.
Jeff Rehl, general sales manager of Clear Channel Communications, will speak at the American Marketing Association meeting. Pizza will be served at 7 p.m. in 319 Schoenbaum Hall and the meeting will start at 7:30 p.m. in 320 Schoenbaum Hall. More information is available on the American Marketing Association Web site.
The Information Systems Association will host a representative from Exel Logistics to its weekly meeting at 7:30 p.m. in 205 Schoenbaum Hall. More information is available online at the ISA Web site.
Jackie Daylor of KPMG will speak at the Undergraduate Business Women’s Association meeting from 7:30 to 9 p.m. in 305 Schoenbaum Hall. More information is available on the UBWA Web site.
The Information Systems Association will host speaker Brian Marcum at its weekly meeting at 7:30 p.m. in 205 Schoenbaum Hall. More information is available online at the ISA Web site.
Judges needed for
Jan. 26 competition
Faculty members are needed to serve as judges for the annual first-year MBA Case Competition held from 7:45 a.m. to 3:30 p.m. on Jan. 26. A record 30 teams will compete in the competition, which features one round of judging and a networking session following lunch.
The case competition determines Fisher’s representative for the Big Ten and CIBER International Case competitions. Faculty members interested in participating as a judge should e-mail Ly Zamora.
Registration deadline for business plan competition Jan. 29
The registration deadline for the 2008 Deloitte Business Plan Competition is Jan. 29. Entrants must submit a three page conceptual business plan as part of the registration.
More information is available at the Center for Entrepreneurship Web site or by e-mailing Nikki Modlich.
Mershon Center extends deadline for grant applications
The Mershon Center for International Security Studies is holding a competition for Ohio State faculty and students to apply for research grant funds.
The grants may be used for a variety of research purposes including travel, seminars, conferences, interviews, experiments and workshops.
More information, including grant applications, is available through the Mershon Center Web site.
Rüdi Fahlenbrach, assistant professor of finance, was quoted in a Jan. 8 The Wall Street Journal article on the return of Howard Schultz as the CEO of Starbucks.
Fahlenbrach, who conducted research on boomerang CEOs, told the paper they return because they think the company needs their help.
Anne Beatty, Deloitte and Touche Chair in Accounting, was featured in a roundtable discussion on the impact of the Sarbanes-Oxley Act in the December issue of Columbus CEO magazine.
Beatty joined Columbus-area business leaders to debate the current regulatory environment, impact of the legislation and its future implications.
Andrew Karolyi, Charles R. Webb Designated Professor of Finance, was quoted in a Dec. 5 USA Today article on proposed regulations changes aimed at reducing the number of foreign corporations delisted on American stock exchanges.
Karolyi told the paper it might not be the best time to call for significant deregulation because the rise in delisting could be attributed to a recent SEC ruling that makes the process easier.
Michael Yankelevich, an executive MBA student, had his new wholesale furniture company featured in the January edition of Columbus Homes Monthly.
Yankelevich's Eurolife Furniture features contemporary designs imported from many countries including Germany, Denmark, Italy and Japan. It is also the exclusive U.S. distributor of China’s Red Apple Furniture, a collection that features simple modern designs.