Research
More than outstanding teachers, the College of Business faculty include internationally recognized researchers and thought leaders in their fields. Our faculty engage in relevant, impactful research that yields important insights into the complex problems facing businesses today. Their research advances both the science and practice of their business disciplines.
Through their research, our faculty members model intellectual curiosity and problem-solving. Known for their dedication to teaching, our faculty leverage their research insights in the classroom to provide an enriched learning experience.
Department Spotlight: Finance
Research highlights from the Finance Department.
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Dr. Sinan Gokkaya, JPMorgan Chase & Co. Professor of Finance, mainly researches sell-side analysts. Sinan’s recent article, published in the Review of Financial Studies (a Financial Times 50 Journal), focuses on whether mutual funds generate valuable investment ideas through sell-side analysts to expand our understanding of the investment value, if any, of sell-side research. This research question is especially timely given the Markets in Financial Instruments Directive II that recently went into effect across the European Union, which requires mutual funds to explicitly disclose and justify their payment for investment research. His findings indicate that funds generate higher returns on stocks for which they have access to research by industry expert analysts. The outperformance is greater when funds are more important clients. Client funds place modestly higher weights on stocks covered by industry expert analysts and allocate more commissions to brokers providing such coverage. The research was presented at various regulatory agencies including The Securities and Exchange Commission, The Federal Reserve Bank, International Monetary Fund, among others.
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Dr. Markus Broman, Assistant Professor in Finance, researches investments, asset management, institutional investors, and international finance. His recent article, published in the Review of Asset Pricing Studies, examines the performance consequences of international equity mutual funds that outsource their portfolio management to unaffiliated managers located overseas. Such arrangements are typically used when a fund company lacks expertise in the target market. While many such funds boast about the benefits of having an international presence in their marketing materials, his research finds evidence to the contrary. Namely, internationally outsourced mutual funds have historically underperformed, both gross and net of fees, relative to funds managed in-house. This underperformance is alleviated in so-called manager-of-managers structures, where portfolio management is outsourced to multiple overseas managers that are monitored by a U.S.-based advisor. Such managers are also more likely to be terminated following poor performance, while funds that employ a single outsourced manager are more likely to become entrenched. Overall, the study’s results suggest that investors seeking international exposure should be careful when investing via outsourced mutual funds, especially those managed by a single overseas manager.
Special Merits and Accomplishments
- College of Business faculty members serve as Editors, Associate Editors, and members of the Editorial Review Board for over 50 academic journals, demonstrating their impact within their specific disciplines.
- Dr. Ehsan Ardjmand, Associate Professor of Business Analytics, received a patent for his technology for optimizing automated inventory management, entitled, “Decision Support for Optimizing the Unit Identified Stocking Decision
- Dr. Jacob Hiler, Fox Associate Professor of Marketing, was named as the 45th Miura Visiting Professor. In summer 2023, he will travel to Japan to work alongside Chubu’s Business Administration and Management Synthesis department to conduct research, engage with Chubu students, and explore new academic programming opportunities.
- Dr. Nick Panagopoulos (O’Bleness Associate Professor of Marketing) and Dr. Adam Rapp (Ralph and Luci Schey Professor of Sales) were both invited to present at the 2023 Thought Leadership on the Sales Profession Conference, which was hosted by the University of Virginia’s Darden School of Business. The conference provides a forum for leading academics and senior business leaders to discuss ideas and emerging trends in the sales profession.
- Dr. Tammy Rapp, Robert H. Freeman Associate Professor of Management, was named a Fellow of the Faculty Fellowship Program in Israel, a competitive program that focuses on academic exchange, networking, and collaboration. In Spring 2023, she traveled to Israel to meet with scholars at five different Israeli universities who also research work teams, leadership, and identification within organizations.
- Dr. Liz Wanless, Assistant Professor of Sport Administration, was featured in a panel at Sport Analytics Japan in association with the Japan Sports Analyst Association, for her research on the diffusion of natural language processing in professional sport.
Research Grant Recipients
The following members of the College of Business faculty received research seed grants from the Intellectual Contributions Continuous Improvement Team (ICCIT) for 2022-2023. Each recipient will make at least one presentation as part of the College of Business’ Research Colloquia series:
- Ehsan Ardjmand (Assistant Professor of Analytics & Information Systems) and Bill Young (O'Bleness Associate Professor in Analytics & Information Systems): “Dynamic and Optimal pricing under Local Externalities Using Deep Reinforcement Learning”
- Shea Burden (Assistant Professor in the School of Accountancy): “The Impact of Emotions on Creditor and Non-Professional Investors Judgments”
- Megan Seymore (Assistant Professor in the School of Accountancy): “Internal Auditors’ Reporting of Audit Finding: How Organizational Culture and Internal Audit Department Culture Influence Reporting:
- Aaron Wilson (Associate Professor in the School of Accountancy): “Decentralized Autonomous Organizations and the Evolution of Governance: The effect on Whistleblowing”
Research-Focused Faculty Awards
2023
- Jitendra Tayal: Excellence in Intellectual Contributions
- This award recognizes outstanding intellectual contributions in both qualitative and quantitative publications.
- Nikolaos Panagopoulos: Research Mentor Award
- The Research Mentor Award is given to faculty members who have demonstrated a willingness to serve as a mentor to colleagues seeking to launch or improve scholarship and intellectual contributions or to support undergraduate and graduate research theses, projects, and related activities.
2022
- Sinan Gokkaya: Excellence in Intellectual Contributions
- This award recognizes outstanding intellectual contributions in both qualitative and quantitative publications.
- Luke Pittaway: Research Mentor Award
- The Research Mentor Award is given to faculty members who have demonstrated a willingness to serve as a mentor to colleagues seeking to launch or improve scholarship and intellectual contributions or to support undergraduate and graduate research theses, projects, and related activities.
2021
- Liz Wanless: Excellence in Intellectual Contributions
- This award recognizes outstanding intellectual contributions in both qualitative and quantitative publications.
- Ehsan Ardjmand and Grigorios Livanis: Research Mentor Award
- The Research Mentor Award is given to faculty members who have demonstrated a willingness to serve as a mentor to colleagues seeking to launch or improve scholarship and intellectual contributions or to support undergraduate and graduate research theses, projects, and related activities.
- Tammy Rapp: Research Impact Award
- The College of Business Research Impact Award recognizes faculty members who have distinguished themselves as thought leaders in their discipline or profession on a national or global level. Recipients of this award are able to clearly demonstrate that their body of research and leadership has had an impact on one or more of the following: academic research, student learning, executive education, consulting, and the positive role of business on society and the economy.
Research Highlights Report