From the Dean's Desk

In Gratitude

Dean Martijn Cremers

Dean Martijn Cremers

Tuesday, 30 May 2023
As announced last week, the provost has extended my appointment as dean for a second five-year term, which will run through June 2029. I am humbled by the reappointment and grateful for the provost’s and the College’s support.
I especially want to thank the members of the review committee for their service: Mike Crant (chair), David Arndorfer (student member), Robert Battalio, Jeff Burks, Mary Flannery (Arts & Letters), Shankar Ganesan, Randy Kozel (Law School), Kirsten Martin and Maura Ryan (provost’s representative).
Thanks also to the many of you who took the time to offer helpful, constructive feedback during the review process, including both positive feedback and several challenges. The positive changes in the past four years include the increased strength and size of our faculty, the launch of the doctoral programs in Analytics and Management, the launch of the Business Honors Program, growth in our master’s programs, the increased flexibility in our undergraduate program with new double majors, increased openness of our undergraduate curriculum to non-business majors, enlarged financial resources and improved facilities.
Through these and other accomplishments, I believe we have strongly positioned the College for the future and to better meet the needs of our students, while remaining faithful to the University’s Catholic mission and identity.
I acknowledge that these changes have brought challenges, especially the disruption caused by the transition to the new undergraduate core requirements and the comprehensive reorganization of the graduate programs into the matrix structure. The process of implementing these significant changes was imperfect. I certainly have learned from the mistakes I made along the way and remain committed to working with the faculty and staff most affected by the new Business Core curriculum and to continue reviewing and improving the College’s organizational structure.
I’m excited and hopeful about the future of the College, and fully dedicated to our mission and vision as formulated in the strategic plan that we launched last fall. Looking ahead, we will continue to prioritize the six goals in this strategic plan:
  • Elevate the quality and quantity of impactful research with relevance to business and society.
  • Provide an unsurpassed educational experience that contributes to the formation and preparation of undergraduate students who will meaningfully contribute to the world.
  • Elevate our flagship MBA program while offering a strategic portfolio of specialized graduate programs that are distinctively mission-centric, are market-relevant, leverage faculty strengths and contribute to Mendoza's advancement.
  • Develop an innovative curriculum and formative experiences that integrate the business disciplines with the perspective of the human person, preparing students to contribute, cooperate and compete in an ever-changing society.
  • Attract, hire, develop and retain a diverse, world-class faculty and staff who advance our mission and extend our vision.
  • As a community of students, faculty and staff in pursuit of excellence, cultivate an engaged, caring and inclusive culture informed by the University's Catholic mission.
I am truly thankful to work with such exceptional, engaged colleagues and to be able to continue furthering the mission and vision of the College, in service of the University, to advance the human community through growing the good in business. As always, this is a mission that we fulfill together and I welcome your ideas and insights as we move forward.
In Notre Dame,
Martijn

Research Roundup and Faculty Retirements

Dean Martijn Cremers

Dean Martijn Cremers

Monday, 22 May 2023
Today’s column serves two purposes – to highlight a number of our faculty members for their papers recently published or accepted by top academic journals and to offer gratitude to four professors who will retire this year. 
Our latest published research includes:
Sarv Devaraj, Fred V. Duda Professor of Business (ITAO)
Impact of Working Capital on Firm Performance: Does IT Matter? (Journal of Operations Management)
The researchers examine investments in Information Technology (IT), that allow firms to optimize the working capital–firm performance relationship by helping to either automate (i.e., use technology to increase the speed and accuracy of process execution) and/or informate (i.e., use technology to create new information). Using proprietary IT data and based on a sample of 1,054 US-based manufacturing firms, the paper finds that IT investment positively moderates the performance effects of inventory, payables and receivables cycles, and that these moderating effects vary by the type of IT investment, namely IT infrastructure and IT labor.
Tim Hubbard, Assistant Professor of Management & Organization
Conducting Phenomenon-Driven Research Using Virtual Reality and the Metaverse (Academy of Management Discoveries)
This paper makes the case that virtual reality (VR) — as a methodological platform — is ideal for conducting empirical research in business. It discusses the capabilities of VR technology, its potential to study poorly understood phenomena and its applications in various management subfields. The paper discusses the near-limitless research opportunities offered by VR and provide recommendations and pitfalls to consider when using VR as a research platform.
Peter Kelly, Assistant Professor of Finance
Benjamin Golez, Associate Professor of Finance
Horizon Bias and the Term Structure of Equity Returns (Review of Financial Studies)
The research defines horizon bias as the degree to which individuals are more optimistic at long horizons relative to short horizons. Consistent with the intuition from a stylized present value model, the researchers find that periods of above-average horizon bias are associated with negative term premiums, whereas periods of below-average horizon bias are associated with positive term premiums.
Kirsten Martin, William P. and Hazel B. White Center Professor of Technology Ethics
Are Algorithmic Decisions Legitimate? The Effect of Process and Outcomes on Perceptions of Legitimacy of AI Decisions (Journal of Business Ethics)
This study sought to answer, “Under what circumstances, if any, are algorithmic decision-making systems considered legitimate?” The research finds robust governance, such as offering an appeal process rather than mere notice, can create a legitimacy dividend for decisions with bad outcomes. However, companies cannot overcome the legitimacy penalty of using arbitrary or morally dubious factors, such as race or the day of the week, with a good outcome or an appeal process for individuals.
Joe Urbany, Professor of Marketing
Competition and the Regulation of Fictitious Pricing (Journal of Marketing Research)
The authors develop a descriptive model explaining why the practice of fictitious reference pricing persists despite FTC guidelines and explore potential regulatory solutions. They propose that disclosing the true normal price charged may be the most effective solution and present propositions about the likely effects of requiring firms to disclose recent selling prices, outlining benefits and challenges associated with this requirement.
Hal White, Vincent and Rose Lizzadro Professor of Accountancy
Spillover Effects of Mandatory Portfolio Disclosures on Corporate Investment (Journal of Accounting & Economics)
The researchers find that investment sensitivity to stock price declines for firms with significant ownership held by actively managed funds that have to disclose their portfolio investments more frequently. The effect is concentrated among firms that are (i) owned by funds with larger expected proprietary costs and (ii) more likely to learn from the information in price. The results suggest that portfolio disclosure requirements for money managers have spillover effects on corporate investment by curtailing corporate managers’ opportunities to learn from their firms’ stock price.
The faculty members who are transitioning to emeritus status this year collectively represent 136 years of teaching and research excellence:
Chao-Shin Liu, associate professor of Accountancy, joined Notre Dame in 1998. Chao won numerous teaching awards during his tenure and published research in the area of market reactions to public information.
Ram Ramanan has served as a professor of Accountancy since 1991. Ram taught both financial accounting and managerial accounting and received several teaching awards, including the “Outstanding Teacher” award in the MBA and Executive MBA programs.
Tom Stober, associate professor of Accountancy, joined the University in 1995. His expertise is in financial statements analysis, accounting-based valuation models, financial accounting and reporting, and capital markets. A CPA, he also previously served as the department’s assistant chair.
Jim Wittenbach, professor of Accountancy, takes the longevity prize – Jim joined Notre Dame in 1972! His many recognitions include the James Dincolo Outstanding Undergraduate Professor, the Master of Science in Accountancy Outstanding Professor Award and the Kaneb Center for Teaching Excellence. As a scholar, his research focused on the practical application of income tax laws while emphasizing the way the laws could influence personal and organizational behaviors.
Thank you to Chao, Ram, Tom and Jim for your remarkable service to Our Lady’s University. Please join me in wishing them all of the best in their retirement.
In Notre Dame,
Martijn

2023 Commencement & Faculty Awards

Dean Martijn Cremers

Dean Martijn Cremers

Monday, 15 May 2023
In a few short days, we will celebrate the completion of another successful academic year at Mendoza. The ceremonies are truly joyful events, and I hope you will attend to enjoy the atmosphere and cheer for our newest graduates. Please know that our graduating students deeply appreciate seeing you at the diploma ceremonies.
The Mendoza Graduate Business Diploma Ceremony will take place at 9 a.m. Saturday (May 20) in the Joyce Center North Dome. There will be 24 seats on stage open to faculty. If you are not already a member of the stage party and intend to sit on the stage for the ceremony, please arrive at Joyce Center Gate 1 by 8 a.m. Staff will then direct you to the Monogram Room where you will check in for the processional. Academic regalia is required. If you choose not to sit on stage for the ceremony, you may arrive any time before 9 a.m. via Gates 3 or 4 and sit with the guests of our graduates. There will not be a designated faculty seating section off-stage.
Altogether, we will be bestowing 573 diplomas across our graduate programs:
  • MBA One-Year: 41
  • MBA Two-Year: 130
  • MBA/MSBA: 10
  • EMBA: 37
  • MSBA-CH: 21
  • MSBA-R: 64
  • MSBA-SA: 16
  • MSM: 75
  • MSA: 84
  • MSF: 31
  • MNA: 33
  • EMNA: 31
After the Mendoza Graduate Business Diploma Ceremony concludes, there will be a reception for our new graduates and their family and friends. Please join us! Our students would love to see you there and have a chance to introduce you to their family and friends.
The Mendoza Undergraduate Diploma Ceremony will be held at 2 p.m. Sunday (May 21) in the Joyce Center North Dome. Faculty should enter Gate 1 or Gate 2 between 1-1:35 p.m., proceed directly upstairs and gather on the right side of the hallway outside of the Monogram Room. Academic regalia is required. The procession will start at 2 p.m. Faculty who choose not to sit on stage for the ceremony should enter via Gate 3 before 2 p.m. and sit with the guests of our graduates. There will not be a designated faculty seating section off-stage.
A total of 575 undergraduates will receive diplomas:
  • Accountancy: 71
  • Business Analytics: 116
  • Business Technology: 4
  • Finance: 271
  • Management Consulting: 41
  • Marketing: 72
The department receptions, which are open to Mendoza faculty and staff, will take place on Friday (May 19):
  • 1:30 p.m.: Finance Department (UG & Grad) - Stayer
  • 1:30 p.m.: Management & Organization Department (UG) - Mendoza
  • 3:00 p.m.: IT, Analytics, & Operations Department (UG & Grad) - Stayer
  • 3:00 p.m.: Marketing Department (UG) - Mendoza
  • 4:30 p.m.: Accountancy Department (UG & Grad) - Mendoza
During commencement, we also will recognize a number of our faculty members for their outstanding teaching contributions. (Note: Several University awards yet to be announced will be included in a future Mendoza Exchange.)
Please join me in congratulating the faculty listed below.
Thank you to all the faculty and staff helping with the ceremonies.
In Notre Dame,
Martijn
*************
UNIVERSITY AWARDS
Rev. Edmund P. Joyce, C.S.C., Award for Excellence in Undergraduate Teaching honors faculty members who have profoundly influenced undergraduate students through sustained exemplary teaching.
  • Jason Reed, Wade Family Associate Teaching Professor of Financ
  • Katie Wowak, Robert & Sara Lumpkins Associate Professor of Business Analytics
Dockweiler Award for Excellence in Undergraduate Advising
  • Lisa Heming, Assistant Director of Advising and Administration
MENDOZA AWARD
Joe & Gina Prochaska Family Teaching Award recognizes a faculty member teaching in the undergraduate program for outstanding achievement in preparing students to be leaders in the field of business, as voted on by the Mendoza graduating class.
  • Katie Wowak, Robert & Sara Lumpkins Associate Professor of Business Analytics
MENDOZA DEPARTMENT AWARDS
Mendoza Outstanding Professor Awards honor the faculty members in each department who exhibit sustained excellence in undergraduate teaching in her or his discipline.

James Dincolo Outstanding Undergraduate Professor Award – Accountancy
  • James Wittenbach, Professor of Accountancy
Outstanding Undergraduate Professor Award – Management and Organization
  • Jen Cronin, Associate Teaching Professor of Management and Organization
Zac Plantz Memorial Award for Undergraduate Teaching Excellence – IT, Analytics, and Operations
  • Sriram Somanchi, Assistant Professor of ITAO
Outstanding Undergraduate Professor Award – Finance 
  • Tim Loughran, C.R. Smith Professor of Finance
Outstanding Undergraduate Professor Award – Marketing
  • Chris Bechler, Assistant Professor of Marketing
James Dincolo Outstanding Teaching Awards recognize two faculty members in each department (one teaching professor, one tenured or tenure-track professor) for sustained teaching excellence.
  • Robert Battalio, Professor of Finance
  • John Costello, Assistant Professor of Marketing
  • Craig Crossland, Professor of Management & Organization
  • Huy Huynh, Associate Teaching Professor of ITAO
  • Stephannie Larocque, Notre Dame Associate Professor of Accountancy
  • James O’Brien, Teaching Professor of Accountancy
  • Mitch Olsen, Richard J. Huether Associate Teaching Professor of Marketing
  • Shawn Qu, Assistant Professor of ITAO
  • Jason Reed, Wade Family Associate Teaching Professor of Finance
  • Kelly Rubey, Assistant Teaching Professor of Management & Organization
The James Dincolo Outstanding Research Award recognizes faculty members who significantly contribute to the College’s research reputation.
  • Ahmed Abbasi, Joe and Jane Giovanini Professor of ITAO
  • Zhi Da, Howard J. and Geraldine F. Korth Professor of Finance
  • Shijie Lu, Howard J. and Geraldine F. Korth Associate Professor of Marketing
  • Dean Shepherd, Ray and Milann Siegfried Professor of Entrepreneurship
  • Jessica Watkins, Assistant Professor of Accountancy
The Management & Organization Department Faculty Service Award recognizes a faculty member who embodies the spirit of Notre Dame through the provision of extraordinary and selfless service to Management Consulting students and the Mendoza community.
  • Mike Mannor, John F. O'Shaughnessy Associate Professor in Strategic Leadership
MENDOZA GRADUATE TEACHING AWARDS
Graduate teaching award recipients are chosen by the students in the respective program in recognition of excellence in the classroom.
James Dincolo Master of Science in Accountancy Outstanding Professor Award
  • Tim Morrison, Associate Teaching Professor of Accountancy
Master of Science in Business Analytics Residential Program Outstanding Graduate Professor Award
  • Huy Huynh, Associate Teaching Professor of ITAO
Master of Science in Business Analytics-Sports Analytics Program Outstanding Graduate Professor Award
  • Martin Barron, Assistant Teaching Professor of ITAO
Master of Science in Business Analytics Chicago Program Outstanding Graduate Professor Award
  • Mike Chapple, Teaching Professor of ITAO
Traditional MBA Outstanding Professor Award
  • Walter Clements, Teaching Professor of Finance
Executive MBA Program Outstanding Professor Award
  • John Busenbark, Assistant Professor of Management & Organization
Master of Science in Finance Outstanding Professor Award
  • Shane Corwin, Professor of Finance
Master of Nonprofit Administration Outstanding Professor Award
  • Angela Logan, Associate Teaching Professor of Management & Organization
Executive Master of Nonprofit Administration Outstanding Professor Award
  • Steve Sollmann, Term Assistant Teaching Professor of Management & Organization
Master of Science in Management Outstanding Professor Award
  • Patrick Gibbons, Adjunct Assistant Teaching Professor of Management & Organization

Guest Column: Jessica McManus Warnell

Jessica McManus Warnell

Jessica McManus Warnell

Monday, 8 May 2023
Congratulations to all as we wrap up another semester! Our Notre Dame Deloitte Center for Ethical Leadership (NDDCEL) joins colleagues and friends as we prepare to celebrate our graduates and enter the summer season. We’re grateful for the chance to share updates on our work.
By advancing thought leadership, applying scholarly research and engaging students around the theme of ethical business, the NDDCEL partners with stakeholders from industry, academia and communities to support the College’s mission to Grow the Good in Business. Building on the work of the previous leadership teams, the Center will reaffirm its mission to connect business scholarship and practice. As we relaunch initiatives that have been successful in the past along with new ideas, we will focus on the mission to inform, equip and inspire values-based leaders — all in ways that are accessible and actionable.
Reflecting innovative and important work in the business and scholarly communities, the NDDCEL will shine a spotlight on ESG issues in business (environmental, social, and governance), including topics of sustainable business and inclusive ethical leadership. We will also be embracing a more global perspective, reflecting an important dimension of today’s business leadership.
We have a great team in place to realize this vision. Please help me welcome our new NDDCEL team members to Mendoza!
Lindsay Paturalski is our new NDDCEL Program Manager. Lindsay notes, “I am a first-generation college student who earned my Ph.D. in history from Boston College. My research explores how individuals organize themselves within and against institutions and has touched on global development, philanthropy, public health and incarceration.” Lindsay joins the NDDCEL from the ND Center for Social Concerns and the Shaw Center for Children and Families where she managed research projects on higher education in prison. She looks forward to advancing the NDDCEL mission through writing, research and communication. Say hello to Lindsay in the 102 Mendoza suite — soon to be refreshed as the home of Mendoza Centers and Institutes.
Reilly Fangman joins the NDDCEL administrative support team after eight years in various support staff roles with ND Football. She grew up in the South Bend area after moving from Atchison, Kansas, and attended Saint Mary's College and IUSB. She's looking forward to being a fan in the stadium this fall, new opportunities in Mendoza and supporting the work of the NDDCEL. In addition to her role with our Center, Reilly primarily supports the Business Honors and Business Ethics and Society Programs, and you can find her in 285 Mendoza.
I’m thrilled to have Lindsay and Reilly on board, and I know you’ll enjoy getting to know them.
Our interns, Maria Bueno, Ella Ermshler and Katelyn Wang have been hard at work supporting the new initiatives and liaising with our students — our next generation of ethical business leaders! As we continue to engage our students, we are offering a new course for undergraduates this fall semester, the Deloitte Colloquium in Ethical Leadership (MGTO 30707), that will incorporate mentorship with MBA students and business leaders. Later this month, 18 undergraduates who are part of the current cohort of Deloitte Scholars, led by John Sikorski, will visit Poland through a program co-sponsored by the NDDCEL and the Nanovic Institute. Students will explore the challenges and opportunities associated with a young, free market economy in Europe, and the relationship between ethics, politics, business and faith.
We have also welcomed four new members to our NDDCEL Advisory Board. We’re excited to incorporate their energy and ideas. All are Mendoza alumni, so perhaps you will recognize their names. Joining our board are Cecelia Bolden, chief development and diversity officer at SDI Presence, LLC; Jonathan Collins, senior vice president at PartsTown; Erin Fitzgerald, outgoing CEO of U.S. Farmers & Ranchers in Action; and Kirsten Higgins, vice president, Renewable Natural Gas at Anew Climate.
Our Faculty Fellows share their mission-aligned expertise in supporting inclusive, sustainable, ethical business leadership. We welcome engagement with faculty and staff across the College and would be happy to discuss ways to collaborate. We are initiating research related to inclusive behaviors with our undergraduate and graduate students, in collaboration with Kristen Collett-Schmitt, our associate dean for Innovation and Inclusion and NDDCEL Faculty Fellow. This research extends the work of the Diversity, Equity and Inclusion Grow the Good in Business Case Competition, co-sponsored by the NDDCEL.
Our NDDCEL is also the new home of Mendoza’s engagement with the United Nations Principles for Responsible Management Education (PRME). We look forward to supporting this global network of higher education institutions engaging toward pursuit of the Sustainable Development Goals. 
Toward these ends, we are refreshing our website and adding new content. Watch for upcoming knowledge dispatches, including features on Chat AI with insights from Mendoza faculty Corey Angst, Nick Berente and Tim Hubbard. Also forthcoming is a profile of ESG reporting and accounting research and practice implications, featuring NDDCEL faculty fellow Sandra Vera-Muñoz, with insights from a leader in the field of valuing intangibles including ESG factors. We will soon post video features from United Nations Global Compact CEO Sanda Ojiambo as she shares this global network for business engagement with the Sustainable Development Goals, and alumnus Kirsten Higgins on early career considerations and her field of renewable energy.
Finally, we will host our fall forum October 12-13 at the Mendoza Chicago campus, as we welcome business leaders and scholars to exchange ideas and generate new opportunities for meaningful engagement around sustainable, inclusive, ethical leadership. More information about this event is coming soon.
Your suggestions for new topics to explore through the lens of ethical leadership, or for new partnerships, are always welcome!
All the best as we begin the summer season,
Jessica
Jessica McManus Warnell
Rex and Alice A. Martin Faculty Director, Notre Dame Deloitte Center for Ethical Leadership
Teaching Professor, Management & Organization

Guest Column: Minhee Myung

Minhee Myung

Minhee Myung

Monday, 1 May 2023
At Mendoza College of Business, like numerous educational establishments, we bear the obligation to guarantee the accessibility of our digital content and services to everyone. Embracing digital accessibility is both a legal necessity, as stipulated by laws such as Section 508 of the Rehabilitation Act and the Americans with Disabilities Act (ADA), and a moral duty, ensuring that all students, faculty and staff can equally access educational resources and opportunities.
For instance, Section 508 of the Rehabilitation Act and the ADA require educational institutions to comply with specific accessibility requirements:
  • Section 508: States that electronic and information technology developed, procured, maintained or used by federal agencies must be accessible to people with disabilities.
  • Title II of the ADA: Prohibits discrimination based on disability in public entities, including public colleges and universities.
  • Title III of the ADA: Extends these protections to private institutions.
Improving digital accessibility involves making websites and digital content more accessible to individuals with disabilities, enabling them to effectively interact with and access information online. This encompasses enhancements in the areas of design, development, and user experience.
Key changes include:
  • Enhanced navigation: Ensuring that users can easily navigate through the website using a keyboard, screen reader, or other assistive technologies.
  • Improved color contrast: Adjusting color combinations to meet the needs of users with low vision or color blindness.
  • Text alternatives: Providing text descriptions for images and multimedia content to assist visually impaired users.
  • Captions and transcripts: Adding captions to videos and transcripts for audio content to support deaf or hard-of-hearing users.
  • Consistent layout and design: Implementing a uniform structure and design across the website to make it more predictable and user-friendly.
  • Readable and understandable content: Ensuring that text is written in clear, concise language, and providing explanations for abbreviations, jargon, or complex terms.
Here is the timeline for our next steps:
  • Immediate: In my role as full-stack developer with Mendoza IT, I plan to persist in mastering WCAG guidelines and strive to attain the Web Accessibility Specialist certification from IAAP to enhance my expertise and better help the College with necessary changes. Concurrently, the University is working on integrating Canvas with Panorama, a platform designed to provide a comprehensive solution for creating, managing, and delivering accessible media content.
  • Short-term: Our web team will conduct a comprehensive accessibility audit of the existing websites, identifying areas that need improvement.
  • Medium-term: We will implement changes and improvements based on the audit findings.
  • Long-term: We will continue to monitor and maintain accessibility improvements, conduct periodic reviews, provide training for staff to ensure ongoing compliance with accessibility guidelines and collaborate with University MarCom and OIT to enhance accessibility initiatives, including the establishment of a Digital Accessibility Committee.
By prioritizing digital accessibility, we stand to gain in several ways:
  • Ensuring that every student can fully engage in coursework and access educational resources, resulting in increased student retention and academic success.
  • Appealing to a broader audience, including individuals with disabilities who may prefer attending a more accessible institution, which can bolster the institution's reputation and competitiveness within the higher education landscape.
  • Showcasing our dedication to diversity and inclusion, enhancing the College’s brand and attracting a varied group of students, faculty and staff.
In summary, the integration of digital accessibility, including the dedicated efforts of our web team and the planned Canvas and Panorama collaboration, is both a legal mandate, as highlighted by Section 508 of the Rehabilitation Act and the ADA, and an ethical obligation for the Mendoza College of Business. By emphasizing digital accessibility, we can guarantee equal access to educational resources and opportunities, appeal to a larger audience and demonstrate our commitment to diversity and inclusion, and improve the reputation of Mendoza College of Business. Prioritizing digital accessibility will not only benefit people with disabilities but will also enhance the overall user experience for everyone.
Furthermore, it is essential to recognize the significance of Global Accessibility Awareness Day on May 18. This day aims to raise awareness about digital accessibility and inclusion for people with disabilities. By participating in and promoting this day, we can further demonstrate our dedication to fostering an inclusive digital environment and continue our efforts in ensuring that everyone has equal access to education and resources.
Lastly, I'd like to express my sincere gratitude to Chris Fruehwirth and Brian Connelly for their unwavering support and commitment throughout our web improvement journey. Additionally, I want to extend my thanks to Nicole Velasquez for her incredible collaboration and forward-thinking mindset that has greatly contributed to our success.
Sincerely,
Minhee
Minhee Myung (she/her/hers) 
Full-stack Developer
Mendoza IT

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