economics FACULTY RESEARCH
marketing
finance ethics
ACCOUNTING
INTERNATIONAL BUSINESS
MANAGEMENT
COLLEGE OF BUSINESS
6363 ST. CHARLES AVENUE, BOX 15 NEW ORLEANS, LA 70118 (504) 864-7944 www.business.loyno.edu
A MESSAGE FROM DEAN LOCANDER
Undoubtedly, the role of our faculty in the College of Business at Loyola University New Orleans is multifaceted. While teaching and service are very important, this publication’s primary focus is on scholarly activity. As a college that puts so much emphasis on teaching in small class sizes, it would be easy to fall into the habit of ignoring our collective responsibilities to advancing the theory and science of our respective fields. I am proud this report contains so many high quality publications authored by our faculty. Knowledge generation and dissemination starts with an intellectually curious group of scholars who take research as a serious part of their work. But, in addition to inspiration, there is much perspiration that goes into publishing in scholarly and professional journals. Kudos to the CoB faculty for all they have accomplished in the past and for all they will continue to do in the future. Sincerely,
William B. Locander, Dean
LOYOLA UNIVERSITY NEW ORLEANS COLLEGE OF BUSINESS Ranked a Top 300 Business School by The Princeton Review Accredited by the Association to Advance Collegiate Schools of Business (AACSB) DEGREE PROGRAMS:
Bachelor of Accountancy Bachelor of Business Administration Master of Business Administration CENTERS
The College of Business at Loyola University New Orleans has a renowned history of cultivating business leaders guided equally by a drive for success and a strong sense of ethics. Each Loyola student receives a Jesuit education designed to develop his or her individual talents to the fullest. In the College of Business, this means students are awakened, enlightened, and transformed to reach their full leadership potential. The College of Business faculty applies its extensive academic and professional experience not only to developing future business leaders, but also to conducting quality research and serving local communities. Faculty members’ research covers topics as close to Loyola as retail restoration in post-Katrina New Orleans, alongside studies that analyze foreign economies inextricably linked to our own. This broad research scope, coupled with Jesuit values-based education, combines to make Loyola’s College of Business an institution that truly promotes just action in a global business environment.
LOYOLA UNIVERSITY NEW ORLEANS
The College of Business is home to two centers that encourage faculty research, organize outreach programs, and provide venues for in-house collaboration that supports Loyola’s larger mission. The Center for Spiritual Capital works with scholars, policy experts, and business leaders to revitalize American spiritual capital via the reaffirmation of our JudeoChristian heritage. The International Business Center carries out applied international business research, community outreach services, projects to enhance the college’s international business curricula, and produces scholarly publications in the field of international business.
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WILLIAM BARNETT II
ECONOMICS
CHASE DISTINGUISHED PROFESSOR OF INTERNATIONAL BUSINESS AND PROFESSOR OF ECONOMICS Ph.D., Economics, Michigan State University J.D., Civil Law, Loyola University New Orleans B.B.A., Economics, Loyola University New Orleans
PUBLICATIONS Barnett II, William and Walter E. Block. 2012. The Optimum Quantity of Money, Once Again. Economics, Management, and Financial Markets. 7(1): 9-24. Barnett, William II and Walter E. Block. 2011. Loanable Funds, Saving & Investment, and Financial Assets. Romanian Economic and Business Review. 6(4): 37-54. Block, Walter and William Barnett II. 2011. Contra Eichengreen and Mitchener on ABCT. Studies in Economics and Finance. 28 (2): 111-117.
CURRENT COURSES Principles of Macroeconomics Intermediate Macroeconomics Current Issues in Macroeconomics International Economics
William Barnett’s research focuses primarily on macroeconomics, particularly business cycle theory and analysis, and most especially the Austrian Business Cycle Theory (ABCT). Barnett’s particular interests include refining and updating ABCT, which emerged at the beginning of the 20th century, to take into account changed and changing institutions. Specifically, he focuses on capital theory, the structure of production, and the misallocation of resources; the Federal Reserve System and its fraudulent financial statements; financial institutions, markets, and instruments; and money and credit. Barnett’s secondary research focus is on methodology, specifically the failure of mainstream economics to be scientific. This encompasses the ambiguous use of many critical terms, the failure to use dimensions/units consistently and correctly, the misuse of mathematics, and the failure to make explicit critical assumptions. The results of Barnett’s research have found, among other things, that although business cycles are usually initiated by a money-credit expansion, they can also be initiated by a credit expansion, in the form of massive mismatching between the maturity terms of financial intermediaries assets and liabilities. Also, he has found that demand and supply curves, which are mathematical functions, violate a basic principle of mathematics and, therefore, are mathematically unacceptable.
ECONOMICS
WALTER BLOCK
HAROLD E. WIRTH EMINENT SCHOLAR ENDOWED CHAIR IN ECONOMICS Ph.D., Economics, Columbia University B.A., Philosophy, Brooklyn College (C.U.N.Y.)
Walter Block is a senior research fellow at the Mises Institute. His research falls into two separate categories: Austrian economics, and libertarian political philosophy. In the former endeavor, Block attempts to explain, understand, develop, and promote the praxeological school of economics, based on the founders and leaders of this school of thought: Menger, Bohm-Bawerk, Mises, Hayek, and Rothbard. He has published extensively on a variety of related topics, including business cycles, interest rates, monetary theory, and microeconomics. Blocks’ research on libertarian theory addresses environmental issues under the heading of free market environmentalism. He has published in law reviews on subjects such as blackmail, abortion, defamation, drug legalization, and markets in human body organs, among others. His research engages in the analysis of privatization of oceans, rivers, lakes, streets, roads, and highways, and occasionally explores issues related to labor markets, such as immigration, unions, and minimum wage laws.
PUBLICATIONS Block, Walter E. 2012. Yes to Ron Paul and Liberty. New York, N.Y.: Ishi Press. Block, Walter E. 2010. The Case for Discrimination. Auburn, AL: The Mises Institute. Four Arrows (aka Don Trent Jacobs) and Walter E. Block. 2010. Differing Worldviews in Higher Education: Two Scholars Argue Cooperatively about Justice Education; Rotterdam, The Netherlands: Sense Publishers.
CURRENT COURSES Environmental Economics Labor Economics Economics and Religion Anti Trust Economics Law and Economics
The Market Process
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COLLEGE OF BUSINESS FACULTY
LOYOLA UNIVERSITY NEW ORLEANS
3
NICHOLAS CAPALDI
MANAGEMENT AND ETHICS
LEGENDRE-SOULÉ DISTINGUISHED CHAIR IN BUSINESS ETHICS PROFESSOR OF MANAGEMENT
ASSOCIATE PROFESSOR OF FINANCE
DIRECTOR, CENTER FOR SPIRITUAL CAPITAL
Ph.D., University of Minnesota, 1973 M.S., University of Minnesota, 1971 B.A., Procopius College, 1969
Ph.D., Columbia University, New York B.A., University of Pennsylvania
PUBLICATIONS Capaldi, N. and Malloch, T. (2012) American Spiritual Capital. St. Augustine Press Associate Editor of forthcoming Encyclopedia of Corporate Social Responsibility (Spring 2013). Capaldi, N. (2010). Spiritual Capitalism. The American Conservative, 13-14.
CURRENT COURSES Business Ethics Ethical Legal Responsibility of Business
FINANCE
Nicholas Capaldi’s research focuses on public policy and its intersection with political science, philosophy, law, religion, and economics. He is the author of seven books, more than 90 articles, and editor of six anthologies. He serves as a member of the editorial board of six journals, most recently as editor of Public Affairs Quarterly. Capaldi is currently writing a book on spiritual capital in the United States, which discusses the indelible influence of Judeo-Christian culture on the country’s economic and political achievements. It also argues that this cultural heritage has positive implications for globalization, and must be reaffirmed in the face of various assaults. In his new book, Capaldi applies his concept of spiritual capital—which builds on Putnam’s notion of “social capital”—to the United States’ Judeo-Christian heritage in order to demonstrate how Judeo-Christian spiritual capital has been the source of the spiritual quest of modernity, and how the United States has been able to provide global leadership for that quest because of its spiritual capital. He argues that the United States’ Judeo-Christian culture provides a substantive spiritual vision that supports the political and economic procedural norms of a free society, and argues that the future of modernity, globalization, and the U.S. depend on the extent to which the prospects and problems of this interaction are understood.
Ron Christner’s recent research relates to the viability of the Euro Currency, the relationship and response of the U.S. economy to the European Union financial problems, and whether Greece will leave the Euro. Christner’s work has suggested that if Greece exits the Euro and Spain and Italy follow, the Euro might not survive. This conclusion is based on Christner’s research of trends in the financial variables of Portugal, Ireland, Greece, and Spain. These countries’ interest rates—as well as Italy’s—are above seven percent and are generally believed to be unsustainable. Christner’s research utilizes trends and comparisons of financial data, the analysis of that data from The European Central Bank (ECB), the International Monetary Fund, and the Bank for International Settlements. In his student managed investment fund course, Christner’s students manage real money investments. The course has yielded strong returns in the form of student learning and monetary gains. With upwards of a 30% return on invested funds, Christner and his students created a scholarship fund for Loyola undergraduates from the earnings.
COLLEGE OF BUSINESS FACULTY
PUBLICATIONS Christner, Ron (forthcoming), An Evaluation of the Prospects for the Euro Currency 2012-2013. Christner, Ron and Mehmet Dicle (2011), Casual or Causal relationships between the U.S. dollar, Gold, Oil, and Equity Markets, presented at the CIBMP (Center for Innovations in Business and Management Conference In London, January 2011. Christner, Ron (2009). A Study of U.S. Stock Market Volatility, Fall 2008. Journal of Business and Economics Research, November, 2009.
CURRENT COURSES Personal Finance Investments Real Estate Investments Student Managed Investments Fund
Capaldi’s research on spiritual capital has led to the creation of Loyola’s Center for Spiritual Capital, which unites objectives related to leadership, entrepreneurship, and business ethics under the rubric of spiritual capital. The center seeks to establish a home for business, academic, religious, and community leaders to search for ethical norms that will guide evolving economic relationships in an era of globalization.
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RON CHRISTNER
LOYOLA UNIVERSITY NEW ORLEANS
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DANIEL D’AMICO
ECONOMICS
ASSISTANT PROFESSOR OF ECONOMICS Ph.D., Economics, George Mason University M.A., Economics, George Mason University B.B.A., Economics, Loyola University New Orleans
PUBLICATIONS D’Amico, Daniel J. (2012). Comparative Political Economy when Anarchism is on the Table. Review of Austrian Economics, 25: 6375. D'Amico, Daniel J. (2010). The Prison in Economics: Private and Public Incarceration in Ancient Greece. Public Choice, 145(34): 461-82. Boettke, P. J., & D'Amico, D. J. (2010). Corridors, Coordination, and the Entrepreneurial Theory of the Market Process. Journal of Private Enterprise, 25(2), 87-96.
CURRENT COURSES Intermediate Macroeconomics Principles of Microeconomics
Daniel D’Amico’s research is driven by its topic—the peculiar late modern phenomenon of mass incarceration in the United States. D’Amico’s work crosses a variety of disciplinary boundaries, including sociology, philosophy, criminology, criminal justice studies, and history, but is always rooted in basic political economy and rational choice analysis. D’Amico investigates the challenges posed to central decision making authorities and governments when solving the problems of punishment: whom and when to apply punishment? what types and quantities of punishment are called for? and whom is legitimately entitled to punish? Thus far, D’Amico’s findings suggest that despite conventional wisdom, stateless societies appear relatively robust at resolving a variety of the challenges that criminal punishment poses. Prisons, penitentiaries, and mass incarceration are uniquely governmental phenomena, as are their associated financial and cultural costs. The remainder of D’Amico’s research supports the general applicability of the analytical framework that he works within—rational choice-inspired political economy. D’Amico has been successful in applying this framework beyond the realms of confinement, bringing insight to seemingly innocuous topics such as how music communities recover in the wake of natural disasters, history of economic thought, the sociology of the economics profession, graffiti, and neuro-psychology.
FINANCE
ASSISTANT PROFESSOR OF FINANCE Ph.D., Financial Economics, University of New Orleans M.S., Financial Economics, University of New Orleans M.B.A., Finance, Yeditepe University, Istanbul, Turkey B.B.A., Finance and Operations Management, University of Massachusetts
Mehmet Dicle’s current research focuses on international financial markets' efficiency and their interactions. His research is particularly relevant in light of the recent series of financial crises and international market collapses. His research also extends econometric modelling for equity returns' forecasting and non-causality.
PUBLICATIONS
Dicle’s research investigates the impact of common factors affecting returns, market efficiency, and market development at different levels of liquidity and risk. Recently, he has examined the conditionality of these relationships, as well as that of market efficiency and international integration, on countries’ economic and political situations. His findings in a study of liquidity and risk in the international integration of India and Greece proved that political and economic factors play a far more important role than previously thought.
Dicle, Mehmet F.; Levendis, John, (2011). Greek Market Efficiency and Its International Integration. Journal of International Financial Markets, Institutions and Money, 21(2), pp. 229246.
Dicle’s modeling risk and its impact on international financial markets has implications in terms of portfolio management and risk management. The aim of this research is to explain the process by which markets develop, become more efficient, and manage the level of risk, and to enhance understanding of the factors affecting the severity of the current economic crises.
Dicle, Mehmet F.; Levendis, John, (2012). The Day-of-theWeek Effect Revisited: International Evidence. Journal of Economics and Finance.
Dicle, Mehmet F.; Levendis, John, (2011). The DL-Trading Game. Journal of Financial Education, 37(1/2), pp. 55-82.
CURRENT COURSES Derivatives Financial Management International Financial Management
Intermediate Microeconomics
Advanced Financial Management
Economies in Transition
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MEHMET DICLE
COLLEGE OF BUSINESS FACULTY
LOYOLA UNIVERSITY NEW ORLEANS
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WING FOK
PUBLICATIONS Fok, W. (2011). An Exploratory Study of Risk Neutral Pricing, Model for Accumulators. Journal of Asia Business Studies. Fok, W. (2011). Knock Out Discount Accumulator: A Case Study of Hong Kong Shanghai Bank Accumulator Contract. Journal of Asia Business Studies. Fok, W. (2009). Exploring the Use of Various Technologies, Perceptions of Success and Organizational Culture in Jamaica. Competitiveness Review, An International Business Journal, 19(3).
CURRENT COURSES Global Supply Chain Management Innovation and Technology Management Strategic Management and Business Policy
MANAGEMENT
MARKETING
HENRY J. ENGLER, JR., DISTINGUISHED PROFESSOR IN MANAGEMENT
HILTON/BALDRIGE DISTINGUISHED CHAIR IN MUSIC INDUSTRY STUDIES PROFESSOR OF MARKETING
Ph.D., Business Administration, Georgia State University M.B.A., University of Baltimore B.B.A., Business Management and Personnel Management, Chinese University of Hong Kong
Ph.D., Marketing, Texas Tech University M.B.A., Marketing, Texas Tech University B.A., History, Texas Tech University
Wing Fok’s broad research goal is the improvement of effectiveness of operating systems in general. His research tends toward an international focus, and seeks to help improve U.S. companies by analyzing systems abroad. He has conducted comparative studies of operating systems across nations and cultures to find ways for companies to become more competitive. His analyses of different operating systems investigate how cultural factors make the systems more or less effective in different countries, paying attention to factors such as how much worker involvement in information systems is required for them to function effectively, or whether quality management systems that work well in one country will work well in another. Fok is the editor-in-chief of the Journal of Asia Business Studies, and has published extensively on issues related to Asian business, with a focus on China. His fluency in Chinese and connections in Chinese business and academia provide him easy access to data and information, which he has analyzed in research via simulation and mathematical modeling, and more recently, using survey instruments to collect primary data from executives. Fok’s other international interests include Japan, India, Singapore, and Thailand, as well as Latin America. His latest research focuses on issues related to international logistics. Fok was a visiting faculty of the Beijing International MBA program at Peking University, China.
Jerry Goolsby is very active in the national, state, and New Orleans music industry, and is considered an expert in the marketing of music products. He served on the Recording Academy (Grammy) Board and works closely with nonprofit organizations in New Orleans to support indigent musicians. He is a strong advocate of musician’s rights and helps educate musicians on their rights and methods of exploiting their music products. An active researcher and writer, Goolsby's articles have been published in marketing's most prestigious journals, including Journal of Marketing, Journal of Marketing Research, Journal of the Academy of Marketing Science, and Journal of Personal Selling and Sales Management. His research interests have taken a turn toward music industry-related research. Goolsby’s recent research has explored legal ramifications of the Internet’s influence on the music industry. Two recent articles published in the Tulane Journal of Technology and Intellectual Property focus on challenges and remedies to copyright law, and the role and responsibilities of law schools in the music industry in its current state of flux. Goolsby has also conducted research as part of his active roles in law suits involving returning copyrights and trademarks stolen from New Orleans artists.
JERRY GOOLSBY
PUBLICATIONS Ashlye M. Keaton and Jerry R. Goolsby, (2010). The Role and Responsibilities of Law Schools in the Deconstruction and Resurrection of the Music Industry. Tulane Journal of Technology and Intellectual Property, 13 (Fall). Fisher, C., Pearson, M. M., Goolsby, J. R., & Onken, M. (2010). Developing Measurements for Success for Performing Musical Groups. Journal of Services Marketing. Keaton, A. M., & Goolsby, J. R. (2009). In the Trenches of Copyright Law: Challenges, Inadequacies and Remedies. Tulane Journal of Technology and Intellectual Property, 12.
CURRENT COURSES Basic Marketing
Global Strategy
Marketing Management
Contemporary Managerial Decision Making Process Management Introduction to International Business Introduction to Business Operations Management
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COLLEGE OF BUSINESS FACULTY
LOYOLA UNIVERSITY NEW ORLEANS
9
JOOHYUNG HA
RECENT PUBLICATIONS Eng, L., Ha, J., and Nabar, S. (2012). The impact of Regulation FD on the information environment: Evidence from the stock market response to stock split announcements, accepted for presentation at the 20th Annual Conference on Pacific Basin Finance, Economics, Accounting, and Management Conference, Rutgers University, Sept. 2012. Joohyung Ha. (2011). Agency costs of free cash flow and accounting conservatism, Denver, CO. American Accounting Association Annual Meeting Proceedings. CURRENT COURSES Financial Accounting for Decision Making
ACCOUNTING
ASSISTANT PROFESSOR OF ACCOUNTING
ASSOCIATE PROFESSOR OF MANAGEMENT
Ph.D., Oklahoma State University M.P.A., University of Texas at Austin M.S.F., Boston College
Ph.D., Louisiana State University M.A., Communication, Auburn University B.A., Communication, Auburn University
Joohyung Ha’s current research focuses primarily on managerial financial reporting incentives, market anomalies related to capital market efficiency, and the market participants’ use of accounting information. Her work tends to focus on the interplay between managerial reporting incentives and their reporting choices and investment decisions, and its impact on firm valuation. In a co-authored paper that examines the information environment effects of Regulation Fair Disclosure (Reg FD), Ha investigated the stock market response to stock splits in the pre- and post-regulation periods. The paper found that the (positive) market reaction to stock split announcements is lower in the post-FD period than in the pre-FD period, indicating a smaller information gap between investors, and thus reduced levels of information asymmetry after the regulation. Also, the positive market reaction reverses rapidly in the post-FD period, suggesting that stock prices impound relevant information much more quickly after the regulation. Collectively, the results imply that Reg FD has reduced information asymmetry and improved price efficiency. Currently, Ha is working on projects to explore the relative informative qualities of earnings announcement in various settings in order to find out how perceptions of earnings reporting discretion affect investors’ belief on a firm’s value.
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MANAGEMENT
COLLEGE OF BUSINESS FACULTY
Michelle Johnston’s recent research explores communication on organizational performance, with a specific focus on listening, and the relationship between internal organization culture and external customer relationships. Johnston and College of Business colleagues Kendra Reed and Kate Lawrence have isolated and investigated a new dimension of listening, called Team Listening Environment. This research advances the understanding of how a strong listening climate can positively affect customer service, team outcomes, and financial performance. It finds that managers require an organizational culture that encourages customer orientation, and employees who feel confident that team members listen to their ideas may invest more effort in shaping their organization’s response to customers. In this way, managers who promote genuine listening among employees can build committed highperforming work teams who achieve organizational success and ultimately stronger financial outcomes.
MICHELLE JOHNSTON
PUBLICATIONS Johnston, M., Barker, L., and Watson, K. (2012) Communication Preference Profile/Assessment Tool for Leadership. Johnston, M., Lawrence, K., and Reed, K., (2010). Team Listening Environment Scale: Development and Validation. Journal of Business Communication.
CURRENT COURSES Business Communication Leadership Leadership Communication
She recently developed the Communication Preference Profile, a quick and easy inventory that identifies four habitual communication styles: People, Action, Content, and Technology. This inventory helps organizations and individuals improve performance through more effective communication.
LOYOLA UNIVERSITY NEW ORLEANS
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JEFFREY KRUG
INTERNATIONAL BUSINESS
JACK AND VADA REYNOLDS CHAIR IN INTERNATIONAL BUSINESS AND PROFESSOR OF STRATEGY Ph.D., Management, Indiana University M.S., International Business, The Pennsylvania State University B.A., Economics, The Pennsylvania State University
PUBLICATIONS Krug, J. A. (2012). New challenges for international business research: A review of extant research and the unique contributions of John Dunning. Journal of Teaching in International Business, 23(1), 59–68. Krug, J. A. (2009). Brain drain: Why top management bolts after M&As. Journal of Business Strategy, 30(6), 4–14. Krug, J. A., & Shill, W. (2008). The big exit: Executive churn in the wake of M&As. Journal of Business Strategy, 29(4), 15–21.
CURRENT COURSES Strategic Management Global Strategy International Management Business and Globalization
Jeffrey A. Krug conducts research on strategy and international business. His research has focused on global strategy (e.g., the analysis of global industry structure and formulation of global strategy), corporate governance (e.g., board governance and board-executive relationships), mergers and acquisitions (e.g., postmerger integration and the effect of culture in cross-border M&As), and top management teams (e.g., managerial discretion, the market for corporate control, and post-merger effects of M&As on acquired top management teams). Krug’s research has been published in the Strategic Management Journal, Harvard Business Review, California Management Review, Journal of Business Strategy, Journal of International Management, and Journal of Management & Governance, among other leading journals. He has also authored or edited five books on mergers and acquisitions, international business and globalization, corporate strategy, multinational enterprise theory, and top management teams. Krug is nationally recognized for his research on the effects of mergers and acquisitions (M&As) on target company executive teams. Conventional wisdom holds that executive-level turnover returns to “normal” levels within two or three years. Krug’s research shows that M&As actually lead to higher than normal turnover rates among target company executives that can last 10 or more years. Mergers and acquisitions appear to alter the underlying dynamics of many acquired company executive teams and lead to long-term leadership instability. This instability is not easily eliminated. Krug has been an external consultant for Accenture’s Organizational Change Strategy Group, consulting on post-merger integration and executive leadership issues. He continues to focus on producing new research insights that can be applied in practice—by executives, firms, and consultants.
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COLLEGE OF BUSINESS FACULTY
ECONOMICS
LEO KRASNOZHON
ASSISTANT PROFESSOR OF ECONOMICS Ph.D., Economics, George Mason University M.A., Economics, Clark University B.A., Economics, Kharkiv State University
Leo Krasnozhon’s current research project studies the effect of economic reform on the agricultural production in Ukraine. He has found that a fully delineated and secure system of property rights leads to large positive gains in farm efficiency. In Ukraine, farms with a well-defined and enforced governance system are more efficient as compared to farms with a contractual incompleteness. His research also shows that the ownership arrangement has a profound effect on agricultural production in Ukraine. In 1999, the Ukrainian government reorganized several thousand collective farms. The new arrangement of property rights created two main forms of farm organization: sole proprietorship and employee-owned corporation. His findings show that farms with sole proprietorship are more efficient agricultural producers than employee-owned corporations. These findings provide important insights for further economic development in countries with similar institutional setting. Through his research, he has also discovered that a successful economic reform requires a credible commitment from the government to the institutional status quo change. A comparative analysis of the shock therapy reform in Russia and the Czech Republic shows that the Havel government was able to solve the political economy problems of credibility and commitment while the Yeltsin government could not overcome them. Furthermore, his current research project examines institutional differences among post-communist countries to explain why some of them have consolidated democracy while the others have not done it yet. He studies the institutional factors that can explain why some formal rules that set democracy apart from other political systems are rooted to a far greater degree in some post-communist countries while the others lack them.
LOYOLA UNIVERSITY NEW ORLEANS
RECENT PUBLICATIONS Krasnozhon, L., Beulier, S., and Boettke, P. (2012) Political economy of credibility and commitment: post-socialist transition of the Czech Republic. Journal of Governance and Regulation, Vol.1(2): 75-86. Krasnozhon, L. (2011). Property rights and farm efficiency: Evidence from Ukraine. Economic Change and Restructuring, Vol.44 (4): 279-295. Krasnozhon, L., and Rothschild, D. (2010) PostFlood Recovery of Cities: New Orleans and Prague” Emily Chamlee-Wright and Virgil Henry Storr, eds., The Political Economy of Hurricane Katrina and Community Rebound, Cheltenham, U.K.: Edward Elgar.
CURRENT COURSES Business Statistics
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JOHN LEVENDIS
PUBLICATIONS Lee, S., Levendis, J., and Gutierrez, L. (2012). Telecommunications and Economic Growth: An Empirical Analysis of SubSaharan Africa. Applied Economics 44(4): 461-469. Dicle, M., and Levendis, J. (2011). The DL-Trading Game. Journal of Financial Education, 37(1/2) 55-82. Dicle, M., and Levendis, J. (2011). Effect of Market Efficiency on Market Development for Athens Stock Exchange. Journal of International Financial Markets, Institutions & Money, 21(2): 229–246.
CURRENT COURSES Principles of Microand Macro-economics Econometrics
ECONOMICS
ASSISTANT PROFESSOR OF ECONOMICS
DEAN OF THE COLLEGE OF BUSINESS
Ph.D., Economics, University of Iowa M.S., Mathematics, University of Iowa M.A., Economics, University of Iowa B.B.A., Economics, Loyola University New Orleans
Ph.D., University of Illinois, at Urbana-Champaign M.S., University of Illinois, at Urbana-Champaign B.S., University of Illinois, at Urbana-Champaign
John Levendis is an applied econometrician focusing primarily on issues of economic growth and financial market anomalies. While he definitely enjoys straying from this stream of research, he always seems to come back to the macroeconomic question: why are some countries poor, and why do they stay that way? The answer, usually, is institutions: poor financial institutions, unstable political institutions, poor educational institutions, stifling regulatory institutions, and so on. In one series of papers, Levendis has argued that countries which regulate their telecommunications industry the least tend to get richer more quickly. In another series, Levendis showed how countries which uphold property rights tend to have far fewer instances of violent conflict, even after controlling for the effects of income. Levendis has also developed a mathematical model which explains why corrupt economies not only have lower incomes, but also more volatile incomes. Dr. Levendis has thrice been the recipient of the College of Business’ Outstanding Researcher Award. He first won the award in 2007 for his work on residential housing markets, and then again in 2009 for his work on judicial campaigns. He most recently shared the prize in 2012 with Dr. Mehmet Dicle for their work on the financial markets and the Greek economic collapse.
Economic History History of Economic Thought
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MANAGEMENT
COLLEGE OF BUSINESS FACULTY
William Locander’s present research interests lie in two areas: issues of sales force leadership and management; and developing a methodology for measuring attitudes from an individual perspective. The two streams of research address psychological approaches to the phenomena under study. Locander’s sales force articles also report on research into individual and organizational variables as they impact job satisfaction and turnover intention. Through a series of structural equation models, the work noted the importance of variables such as leadership style, ethical climate, trust in supervisors, emotional exhaustion, and performance. Locander’s findings provide empirical support for the notion that “good ethics” is “good business.” An ethical organizational climate results in positive job attitudes, lower job stress, and reduced employee turnover intention. The second area of Locander’s research proposes a cognitive segmentation technique that models both customers’ cognitive content and structure. Cognitive segmentation provides a quantitative operationalization of idiographic cognitions that can be compared and integrated across customers to move beyond the in-depth understanding and wide generalizing trade-off. In addition, cognitive segmentation utilizes participants’ own semantics for eliciting and aggregating cognitions. This method allows researchers to understand content in light of structure, as participants’ elicited cognitive contents are further interpreted as a function of the complexity of their cognitive structures. The foundations for this research are from personal construct theory, a modified version of Kelly’s Repertory Grid and Bormon’s trait implication procedure.
LOYOLA UNIVERSITY NEW ORLEANS
WILLIAM LOCANDER
PUBLICATIONS Locander, William. (2012). Reluctant Employees and Felt Stress: the Moderating impact of Manager Decisiveness. Journal of Business Research. Locander, William. (2011). Ethical Scandal. Legacy Identity, and Relationship Impact: Sensemaking of the Innocents. Corporate Reputation Review. Locander, W. B. (2009, June). Cognitive Segmentation: Modeling the Structures and Content of Customers Thoughts. Psychology and Marketing, 26(6), 479-506.
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DAPHNE MAIN
PUBLICATIONS Rambo, R., Main, D., & Beaubien, L. (forthcoming). Reducing Reporting Risk: Designating Foreign Currency Forward Contracts as Cash Flow Hedges. Journal of Accounting Education. Transformative Tools and Best Practices for Teaching Today’s Future Professionals.” 2012 Accounting Educators Workshop, Society of Louisiana Certified Public Accountants, Baton Rouge, LA. March 16, 2012. (panelist). “Reducing Reporting Risk: Designating Foreign Currency Forward Contracts as Cash Flow Hedges,” Robert G. Rambo, Daphne Main, and Louis Beaubien, AAA Western Region Meeting, Newport Beach, CA, April 28-30, 2011.
ACCOUNTING
ASSOCIATE PROFESSOR OF ACCOUNTING
ASSISTANT PROFESSOR OF MANAGEMENT
Ph.D., Accounting and Management Information Systems, Ohio State University M.S., Accountancy, Western Michigan University B.S., Botany, University of Vermont
Ph.D., Boston College M.S.O.S., Boston College B.B.A., University of Miami
Daphne Main’s research interests focus on decision making in accounting. Her current research on decision making in auditing explores the effects of ambiguity, and examines the responses of both experienced audit seniors and audit managers to a typical audit of a contingent liability, where ambiguity is frequently encountered. She found that auditors require less expense to be booked and lower levels of disclosure when the probability of occurrence was ambiguous (as compared to unambiguous), even as the probability increased. Main’s research on decision making extends to social psychological influences on decision making by managers and auditors, where she has examined the effects of factors such as reciprocation, authority, and commitment/consistency. Main has published in taxation and a pedagogical case in auditing. She is also currently working in the area of accounting for foreign currency forward contracts. She has CPA certification in the state of Ohio. Main received the 2012 Joseph A. Butt, S.J., College of Business Faculty Award for Outstanding Advising.
CURRENT COURSES M.B.A. Financial and Managerial Accounting Master’s Seminar in Auditing International Accounting Intermediate Financial Accounting I & II
Felipe Massa’s research investigates the formation of innovative entities, practices, and ideas in diverse settings, including online communities and creative industries. He examines efforts by change agents to transpose and adapt old concepts, to associate previously unrelated ideas, and to balance the groundbreaking with the appropriate in the construction of novelty. In doing so, he systematically unveils the processes and mechanisms that drive and sustain original entrepreneurial behavior. In his dissertation, Massa examines how an online community called “Anonymous” orchestrated a series of hacker attacks and large-scale social change projects despite its lack of bureaucratic coordination mechanisms. He teases out the process by which the Anonymous community’s transition into activism took place and elaborates on how the online environment and the community’s anti-authoritarian subculture influenced the process. He has also examined how entrepreneurs in the creative industries propel the construction of new styles and genres, such as the way in which architects who eschewed the conventions of 19th century Beaux-Art architecture collectively created “modern architecture.” In another study, Massa investigates how musicians, critics, and record executives in multiple countries introduced Bossa Nova into the North American Jazz music scene. Finally, in a chapter of Advances in Strategic Management (2011), he integrates and expands upon studies of collective action by examining how projects act as coordination mechanisms in film and the architecture allow actors to perform complex tasks in different locations.
FELIPE G. MASSA
RECENT PUBLICATIONS Nielsen, R. and Massa F.G. (Forthcoming) Beyond Apples and Barrels: Reintegrating Institutional Theory, Political Economy, and Organizational Ethics. Journal of Business Ethics. Jones, C., Maoret, M., Massa, F.G. and Svejenova, S. (2012). Rebels with a Cause: The Creation, Contestation and Expansion of the De Novo Category "Modern Architecture." 1870-1975. Organization Science. Maoret, M., Massa, F.G. and Jones, C. (2011). Toward a Projects as Events Perspective. In Advances in Strategic Management: Project-based Organizing. Gino Cattani, Simone Ferriani, Lars Frederiksen and Florian Taeube (Eds). United Kingdom: Emerald Group Publishing Limited.
CURRENT COURSES Entrepreneurship Management & Organizational Behavior
As an incoming faculty member at the College of Business, Massa seeks to contribute to a burgeoning entrepreneurship program and produce new research that sheds light on novel entities, practices, and ideas reinvigorating creative industries in New Orleans.
Managerial Accounting Principles of Financial Accounting
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MANAGEMENT
COLLEGE OF BUSINESS FACULTY
LOYOLA UNIVERSITY NEW ORLEANS
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LEE MUNDELL
DECISION SCIENCE
ASSOCIATE PROFESSOR OF DECISION SCIENCE (EMERITUS) Ph.D., Economics, University of North Carolina B.S.B.A., Economics, University of Florida
PUBLICATIONS Hickman, Thomas M., Michael M. Pearson and Lee Mundell, (2011). Assessing the effect of randomization in a spreadsheet-based active learning exercise for the classroom. Journal for the Advancement of Marketing Education. Hickman, Thomas M., Lee Mundell, Michael M. Pearson and Karen Arnold, (2011). An Introduction to Business Exercise for Prioritizing a Manager’s Activities: Comparison of Computerized versus Non-computerized Administrations. Journal of the Academy of Business Education. Pearson, M. M., Fisher, C., Mundell, L., & Barnes, J. W. (2003). Spreadsheet Model for the Classroom: The Value of Position on the Web Page. Journal of Internet Commerce 2(2) 47-68.
Lee Mundell’s primary research goals involve the development of business-oriented instructional exercises that promote student interest and learning in business classrooms. The models are distributed online and serve business schools, including Loyola’s, by providing teaching tools that encourage active learning in fast-paced environments. Mundell’s exercises utilize Excel spreadsheets, which provide quick results for immediate analysis. Various models have focused on advertising layout values of different positions on printed pages and Web pages, and retail merchandise value at different display heights and positions in a fixed amount of floor space. The exercises demonstrate clear norms that students discover during the active learning process. Mundell has also conducted research whose results were published in The Journal of Economics, which explored the theoretical possibility of an income tax cut generating enough new economic activity to provide tax revenue sufficient to ultimately pay back tax revenues that were initially lost.
MARKETING
MICHAEL M. PEARSON
CHASE BANK/FRANCIS C. DOYLE DISTINGUISHED PROFESSOR OF MARKETING
Ph.D., University of Colorado, Boulder M.B.A., University of Colorado, Boulder B.A., Gustavus Adolphus College, Minnesota
Michael M. Pearson’s research post-Hurricane Katrina has focused on New Orleans’ retail infrastructure and how it has and has not recovered after the storm. Pearson began gathering information on how New Orleans retailers were recovering immediately after Katrina, noting whether hard goods or soft goods retailers were leading the recovery, whether these were independent businesses or chains, and whether the retailers were large or small. While this research is still in progress, results have been presented at and published in proceedings of several national and international conferences. Pearson’s research has evolved from what he initially gathered from reports in newspapers and personal observations, to developing retail recovery propositions and testing those using Yellow Pages listings from pre- and postKatrina in order to achieve a quantitative count of the increase or decrease in number of retail stores by merchandise category. Pearson then developed criteria to select American cities recovering from disasters to which he could compare New Orleans, and studied their retail recovery and recovery-based consumer buying behavior based on information gathered from the Census of Retail Trade. The results of Pearson’s research to date were recently reported in a major article in the International Review of Retail, Distribution and Consumer Research (2011).
CURRENT COURSES
PUBLICATIONS Hickman, T., Mundell, L., Pearson, M., and Arnold, K. (2012). An Introduction to Business Exercise for Prioritizing a Manager’s Activities: Comparison of Computerized versus Noncomputerized Administrations. Journal of the Academy of Business Education. Vol. 13, Spring, 60-76. Pearson, M., Hickman, T., and Lawrence, K. (2011). Retail recovery from natural disasters: New Orleans versus eight other United States. International Review of Retail, Distribution and Consumer Research. Vol. 21, No. 5, December, 415-444. Hickman, T., Pearson, M., and Mundell, L. (2010). Assessing the effect of randomization in a spreadsheet-based active learning exercise for the classroom. Journal for the Advancement of Marketing Education. Volume 17, winter, 39-51.
Business Statistics
CURRENT COURSES
Intro to Business
Basic Marketing Professional Selling Retailing & Value Chain Sports Marketing Special Events Marketing Global Retailing
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COLLEGE OF BUSINESS FACULTY
LOYOLA UNIVERSITY NEW ORLEANS
19
KENDRA REED
MANAGEMENT
ASSOCIATE PROFESSOR OF MANAGEMENT Ph.D., University of Nebraska-Lincoln M.B.A., DePaul University B.S.Ed., Northwestern University
RECENT PUBLICATIONS Johnston, M., Reed, K., Lawrence, K. (2011). Team Listening Environment Scale: Development and Validation. Journal of Business Communication. Smith, D. & Reed, K. (2010). Critical Life Experience and Leadership Effectiveness for Appalachian Women. Journal of Leadership and Organizational Studies. Reed, K., Doty, H.D., & May, D.R. (2005). The impact of aging on self-efficacy and computer skills acquisition. Journal of Managerial Issues. CURRENT COURSES Management Principles Psychology and Management Human Resources Management
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INTERNATIONAL BUSINESS
LEN TREVIÑO
GERALD N. GASTON EMINENT SCHOLAR CHAIR IN INTERNATIONAL BUSINESS PROFESSOR Ph.D., International Business and Strategic Management, Indiana University M.B.A., Marketing and International Business, Indiana University B.B.A., Finance, University of Notre Dame
Kendra Reed’s research explores factors impacting employee performance, individual differences, the work environment, and change. Recently her interests are migrating from individual characteristics to organizational factors needed to attract and retain talented high-performing human resources during the current economic situation of uncertainty and instability. In her recent publications, she and her coauthors suggest that consideration be given to creating a work environment in which employees engage and commit to the organization’s success because, through the deafening chaos of transactional noise, co-workers feel each other’s thoughts, opinions, and ideas and commit their efforts to the work group. Faced with an increasingly dynamic and uncertain business environment that strains sustainable connections between people and institutions, the vitalizing aim of the most recent research investigates a new paradigm of listening as an organizational characteristic and explores the impact of the listening environment on favorable employee attachments to organizations. Arguably, organizations of the 21st century differ fundamentally from that last century, and accordingly, managers may be able to more efficiently and effectively fuel strong and productive attachments to the organization by creating conditions in a work environment resulting in employee beliefs that the organization respects and values them, as an alternative to investing extensive time and money to develop individual skills with little guarantee of results.
COLLEGE OF BUSINESS FACULTY
Len Treviño’s research centers on the theory of the multinational enterprise, foreign direct investment (FDI), and the intersection of strategic management and international business. In addition, he is interested in the strategic management process and organizational design of firms. He has been published multiple times in leading management and international business journals, including Journal of International Business Studies, Management International Review, International Business Review, International Journal of Human Resource Management, and Journal of World Business, among many others. Treviño’s research on foreign direct investment and multinational enterprise has explored investment from abroad into the United States, as well as into other developed and emerging economies, including the process of internationalization in Central and Eastern Europe and Latin America. His research on management covers many topics, including the allocation of named professorships in management and strategic and organizational responses of Mexican managers to environmental uncertainty. Treviño’s research has advanced the theory of the multinational enterprise. In fact, his seminal FDI piece appearing in Journal of International Business Studies, “Foreign direct investment in the U.S.: An analysis by country of origin” (1996), is required reading in Ph.D. programs around the world and has been cited more than 300 times. In addition, his research has enabled practitioners to better understand their business model, such as his recent JIBS publication which demonstrates that companies that initiate a production shift may experience a reduction in sales, especially if the production shift is to a country that evokes animosity in the country where its products are sold.
LOYOLA UNIVERSITY NEW ORLEANS
PUBLICATIONS Arvin Sahaym, Len J. Treviño, H. Kevin Steensma (2012). “The influence of managerial discretion, innovation and uncertainty on export intensity: A real options perspective.” International Business Review. Treviño, L. J., Mixon, F. G., Jr., Funk, C. A., and Inkpen, A. C. (2010). “A Perspective on the State of the Field international business publications in the elite journals as a measure of institutional and faculty productivity.” International Business Review. Funk, C. A., Arthurs, J. D., Treviño, L. J., & Joireman, J. (2010). “Consumer animosity in the global value chain: The effect of international production shifts on willingness to purchase hybrid products.” Journal of International Business Studies, 41(4).
CURRENT COURSES International Management Management and Culture in the Latin American Business Environment Business Policy
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FRANKIE WEINBERG
PUBLICATIONS Weinberg, F. J. (2012). Spiritual Mentoring Support: Spiritual Support as a Function of Psychosocial Mentoring. Manuscript published in conference proceedings at the Annual Meeting of the Southern Management Association, Ft. Lauderdale, Florida. Weinberg, F. J., & Lankau, M. J. (2011). Formal Mentoring Programs: A Mentor-Centric and Longitudinal Analysis. The Journal of Management. Weinberg, F. J., & Lankau, M. J. (2010). Epistemological Beliefs in the Workplace: The Impact of Personal Beliefs on Mentoring Support. Manuscript published in conference proceedings at the Annual Meeting of the Southern Management Association, St. Pete Beach, Florida.
CURRENT COURSES Business Communication Management Management & Organizational Behavior
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MANAGEMENT
FINANCE
ASSISTANT PROFESSOR OF MANAGEMENT
ASSOCIATE PROFESSOR OF FINANCE
Ph.D., University of Georgia M.B.A., State University of New York at Binghamton B.B.A., Loyola College in Maryland
Ph.D., New York University M.A., Philosophy, New York University M.B.A., New York University M.S.E., Princeton University B.S.M.E., Tulane University
Frankie Weinberg’s research centers on improving the effectiveness of group and dyadic relationships, specifically in the areas of knowledge sharing, mentoring, leadership, and related exchanges; learning and development; diversity; social networks; and organizational culture. Weinberg’s research primarily relates to his recently completed dissertation study, which extends organizational knowledge sharing research as it examines some factors that appear to enhance knowledge sharing behaviors among organizational employees—particularly those working in teams and those involved in mentoring relationships. Further, he is presently exploring the relationships between gendered communication styles of employees and important employee and organizational outcomes. In his dissertation, Weinberg argues that organization members’ cognitions may promote their knowledge sharing behaviors in these two contexts, and that this relationship is likely moderated by the employee’s perception of psychological safety. The study becomes multi-leveled as it evaluates the degree to which these individual behaviors aggregate to grouplevel outcomes that have been previously established as antecedents to team performance. Weinberg’s findings offer a preliminary indication that organizations may gain insight into the processes through which knowledge sharing in workgroups and mentoring relationships come about by understanding their members’ individual cognitive processes. Weinberg has also published a manuscript in the Journal of Management whose findings suggest that, over time, mentors in formal mentoring relationships begin to use their time more efficiently, and the negative effects of cross-gender differences dissipate. Another manuscript being developed for journal submission uses a social network lens and the distinction between taskand relationship-related constructs to integrate the different facets of teams that predict team performance.
COLLEGE OF BUSINESS FACULTY
Stuart Wood’s research explores the process of entrepreneurship and how it is carried out, and how it coordinates prices in both goods markets and financial markets. He seeks to illuminate the process of price adjustment in these markets, focusing on the convergence of different market participants’ expectations about the future. Wood has sought to clarify the entrepreneurial process unique to financial markets, which has been generally neglected by economists. His findings show that the processes of entrepreneurship and valuation in financial markets are very different than in goods markets because of the expectational nature of the assets traded in financial markets.
STUART WOOD
PUBLICATIONS Wood, S. (2008). “The Finance of Katrina.” International Journal of Social Economics, 35(7-8), 579-589. Wood, S. (2004). “Interactions of Corporate Financing and Investment Decisions: The Financing Present Value Approach to Evaluating Investment Projects that Change Capital Structure.” Managerial Finance, 30(5), 16-37.
Wood’s research extends to the mental process of forecasting and choosing a preferred course of action. His findings clarify how expectations are formed and converged by entrepreneurship in the stock market, the identification of specific types of economic entrepreneurs in the financial and capital markets, and the identification of how their actions lead to equilibration of asset prices.
Wood, S., Block, W., Barnett, W., II. (2002). “Austrian Economics, Neoclassical Economics, Marketing, and Finance.” The Quarterly Journal of Austrian Economics, 5(2), 1-66.
A large strand of ethical investigations has become an important part of Wood’s research, which posits that successful business management requires respect for the spiritual freedom of employees, investors, and customers. Furthermore, Wood argues that entrepreneurship is a spiritual phenomenon that deals with the formation and alteration of expectations, which are subjective.
Entrepreneurial Method of Financial Decisions
CURRENT COURSES
Analysis of Financial Statements Advanced Financial Management
Wood has also published in the areas of system effectiveness evaluation and decision analysis, rocket combustion processes, distributions of security price changes, the economic fundamentals of marketing, capital formation in the United States, valuation of closely-held firms, interactions of corporate financing and investment decisions, and the financial effects of Hurricane Katrina.
LOYOLA UNIVERSITY NEW ORLEANS
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LEE YAO
ACCOUNTING FR. JOSEPH A. BUTT, S.J., DISTINGUISHED PROFESSOR MARQUETTE FACULTY FELLOW
PUBLICATIONS Liu, C., Yao, L., and Nan, H. (2012). Improving ethics education in accounting: lessons from medicine and law. Issues in Accounting Education. (ISSUES) (American Accounting Association-Wide Journal) Hu, N., Liu, L., Yi, D., and Yao, L. (2012). Not all that glitters is gold: an investigation of blog attention and idiosyncratic stock returns. Journal of Accounting, Auditing and Finance. (JAAF) Yao, L., Liu, L., Hu, N., and Liu, C. (2011). The impact of IFRS on accounting quality in a regulated market: an empirical study of China. Journal of Accounting, Auditing and Finance. (JAAF)
CURRENT COURSES Accounting Information Systems Strategic Cost Management Managerial Accounting Information for Decision Making Management Control and Decision Making International Accounting
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Postgraduate Diploma in Entrepreneurship (PGDipE), Judge Business School, University of Cambridge, Cambridge, UK Postgraduate Diploma in Higher Education (PGDipHEd), The National Institute of Education, Nanyang Technological University, Singapore Doctor of Philosophy (Ph.D.) in Accounting/Information Systems, Graduate School of Management, Deakin University, Victoria, Australia Master of Business Administration (M.B.A.) in Business Information Systems, College of Business, Minnesota State University, Mankato, Minnesota, USA Bachelor of Science (B.S.) in Accounting and Computer Science, College of Business, Minnesota State University, Mankato, Minnesota, USA
Lee J. Yao’s research at Loyola University is undergirded by 20 years of professional experience in accounting, auditing, consultancy, and information systems as a partner in a Big 5 accounting firm. He is the author of four books and 28 articles published in premier national and international academic journals. Since 2007, he has served as editor-in-chief for the International Journal of Accounting and Information Management, and since 2010, has served as accounting area editor for the Journal of Asia Business Studies. He is an external member of the China Market Research Center of Deakin University in Australia, and an honorary professor and doctoral degree supervisor for the Southwestern University of Finance and Economics, a top 10 business school in China. Yao’s research focuses on three main areas: corporate governance, and how earnings management and cash flow manipulation affect various capital market reactions; information technology investment, how it can increase firm value and improve productivity, with particular focus on the productivity paradox phenomena; and forensic accounting, specifically how different methods of fraud detection can lead to certain legal outcomes and minimize potential legal costs in complex legal procedures. All three streams of Yao’s research have practical implications, and all involve how to improve firm value. He has applied many of his research findings to consulting work in assisting major multinational organizations to improve certain characteristics of their operations, thereby minimizing risks of value reduction or improving firm value. Yao has published 5 books/book chapters and 29 articles in premier academic journals.
COLLEGE OF BUSINESS FACULTY
economics FACULTY RESEARCH
marketing
finance ethics
ACCOUNTING
INTERNATIONAL BUSINESS
MANAGEMENT
COLLEGE OF BUSINESS
6363 ST. CHARLES AVENUE, BOX 15 NEW ORLEANS, LA 70118 (504) 864-7944 www.business.loyno.edu