From the Dean's Desk

Guest column: Kristen Collett-Schmitt & Jessica McManus Warnell

Kristen Collett-Schmitt & Jessica McManus Warnell

Kristen Collett-Schmitt & Jessica McManus Warnell

Monday, 11 April 2022
A Reflection on the Inaugural DE&I Grow the Good in Business Case Competition
On April 1, the College officially concluded the first-ever Diversity, Equity and Inclusion Grow the Good in Business Case Competition. After two months and three rounds of competition, the top three teams of Specialized Master’s students presented their business solutions to narrowing the wealth gap in Indiana.
While all three teams developed proposals that would lead to meaningful advancements in diversity, equity and inclusion, the top prize of $7,000 went to Team O’Hara, composed of Master of Science in Management students Katelyn Derifield, Maya Dodson, Maria Schorr and Kelly Straub. Team O’Hara focused on fostering collaborative relationships between anchor institutions and minority-owned businesses, and creating workplace engagement programs to connect community members, including high school students, with education and career opportunities.
This case competition was certainly a passion project for both of us, but one that was also successful by many metrics. The 30 teams of Specialized Master’s students who voluntarily opted into this case competition walked away from the experience with a strong sense of what it means to “Grow the Good in Business.” The competition also provided the students with a rigorous academic experience that afforded them the opportunity to use and improve their leadership, problem solving, teamwork and presentation skills outside of the classroom, and later talk about their business proposals during job interviews.
Additionally, because students were encouraged to form teams across Specialized Master’s programs, the DE&I case competition strengthened their sense of collaboration. Not only did we have teams from all five residential programs register, but we also had all five programs represented in the top 10. One of the teams that made it to the final round was composed of students from both the MNA and MSBA programs, and their pitch coach was a faculty member from the MSA program. In traditional coursework, such cross-program collaboration would not be possible!
In many ways, this case competition was absolutely necessary in order to truly prepare students to be future business leaders in our modern society. Because we created workshops for competition participants and aligned the competition with spring Interterm programming, we were able to deliver formal education on various topics related to DE&I to nearly 150 residential Specialized Master’s students. This is notable, given the short duration of our programs and lack of such formal learning opportunities in our graduate curriculum. Examples of the workshops included Social Justice, Poverty and the Wealth Gap; Inclusive Language & Voicing Values; Diversity Through the Lens of Catholic Social Teaching; Managing Diverse Teams; and a DE&I Corporate Sponsor Panel with 1st Source Bank.
The success of this case competition would not have been possible without the support of so many of you. You answered the call to use your work of educating future business leaders to guarantee that diverse voices, experiences and backgrounds are valued, respected and nurtured. In addition to the Mendoza faculty and staff listed below who served as case writers, judges and competition organizers, we want to offer our special gratitude to Joan McClendon for remaining committed to the competition despite a new position in UEE, Minhee Myung for creating our beautiful website, Jessica Stookey and Martin Johnson for creating unique networking and practice opportunities for students, Wendy Walker for supplying the food and fun, Karma Grundy for her administrative support, Mendoza IT for guaranteeing that our opening and closing events ran smoothly, and Mendoza Communications for assisting with signage and promotions. We were also blessed by the support of MBA students, alumni, campus leaders outside of Mendoza, and corporate sponsors who volunteered to serve in various capacities throughout the competition, including by mentoring our students.
Brett Beasley
Carol Elliott
Pat Gibbons
Chad Harms
Christopher Hillak
Joe Holt
Charlice Hurst
Rob Kelly
Angela Logan
Lindsey McIntyre
Amanda McKendree
Connie Mick
Kris Muir
Kara Palmer
Hermalena Powell
Kelly Rubey
Gina Shropshire
Jim Seida
María Stutsman y Márquez
Joe Sweeney
Tahra Taylor
We recognize the opportunities and challenges in diversity, equity and inclusion are complex and ongoing, and there’s much work to be done. We hope that this year’s case competition is just one example of the many ways in which Mendoza continues this meaningful and critical work.
Kristen Collett-Schmitt
Associate Dean for Specialized Master’s Programs
Jessica McManus Warnell
Associate Teaching Professor of Management & Organization

Guest column: Kara Palmer and Rob Kelly

Kara Palmer and Rob Kelly

Kara Palmer and Rob Kelly

Monday, 4 April 2022
We want to start this column about creating a diverse and welcoming environment at Mendoza by thanking the many of you who have devoted a lot of time and hard work to the effort. In the past year, we’ve been able to offer many workshops, listening sessions and surveys, partnerships with outside organizations and across campus, and even a new case competition devoted solely to DE&I. Together, these combined efforts speak to the importance we all place on recognizing the strength of a diverse College community.
In this column, we want to highlight a particular DE&I initiative at the University that Mendoza has been an integral part of – the Employee Resource Groups (ERGs). ERGs are formal groups sponsored by Human Resources created to support networking and social outlets for specific groups of employees, their family members and allies. They also assist the University with recruitment, retention and educational activities. Their intention is to serve as a kind of gathering point for people who share common interests or concerns, and to strengthen a sense of belonging and community.
There are currently eight ERGs on campus: Adelante Hispanos, Black Faculty and Staff Association, Association of Faculty and Staff of Chinese Heritage (FSCH), Notre Dame Staff of International Descent (NDSID), Notre Dame Veterans Association, Spectrum LGBTQ+ & Ally, THRIVE! Inspiring ND Women, and Young Leaders. This month, the University will launch a ninth ERG for individuals with disabilities.
Of these nine ERGs, Mendoza staff members are leading the efforts across three ERGs and several other staff members are actively involved:
  • Christopher Hillak is a member of the steering committee for Spectrum LGBTQ+ & Ally, which aims to create an open and safe space for LGBTQ+ staff to meet, share fellowship and join in the work to create an inclusive culture of acceptance, dignity and respect for all LGBTQ+ persons at Notre Dame.
  • Kara Palmer is the president of Thrive! Inspiring ND Women, which is the largest ERG on campus and focuses on increasing opportunities for women to be recruited, retained and advanced as leaders at the University of Notre Dame. Lindsey McIntyre serves as the chair on the Mentoring committee for Thrive! and the following staff also serve as committee members working to advance the mission of the ERG to include Jessica Noffsinger, Lisa Michaels, Cathi Kennedy and Janel Zakrzewski-Kuntz.
  • Rob Kelly is the executive sponsor of a new ERG devoted to supporting individuals with disabilities. (Read more about Rob’s involvement in this NDWorks story.) Rob welcomes anyone who wants to know more or get involved in the IWD ERG to reach out to him directly.
  • Phil Drendall is on the membership committee for Young Leaders of Notre Dame.
We encourage all Mendoza faculty and staff to learn more and get involved with the ERGs, either to support you in your specific needs or to provide support to others who may be facing challenges that you have already experienced and have some insights to offer. The groups also can be important sources for networking, professional development and career advancement, and overall enrich your personal and professional journey as part of this great University.
As Dean Cremers has said, “As a community that recognizes every person’s intrinsic human dignity, it is incumbent on us to contribute to the flourishing of each individual and to contribute to our community, recognizing our reciprocal responsibilities and supporting one another. A spirit of diversity, equity and inclusion reflects this fundamental belief and underlies all that we do.”
We are a stronger community when we recognize and celebrate diversity, and draw together to support each other in our differing aspirations and needs.
Gratefully,
Kara Palmer
Senior Director of Administration and Program Management
Rob Kelly
Senior Director of Operations

Guest column: Shankar Ganesan

Shankar Ganesan

Shankar Ganesan

Monday, 28 March 2022
The Marketing Department is delighted to announce a new Master of Science in Digital Marketing (MSDM). This one-year residential program will offer a comprehensive, rigorous, graduate-level education to students with both non-business and business backgrounds to enter into the burgeoning field of Digital Marketing. In the coming months, we plan to announce and market this program to ensure a talented and diverse cohort of students joining us in fall 2023.
I want to recognize some of the many people who were instrumental in getting us to this point. Thanks to Dean Martijn Cremers and Ken Kelley for their enthusiastic support and sponsorship of the cutting-edge program proposal we developed. Both Joe Cherian and Kristen Collett-Schmitt helped navigate the proposal through numerous committees. And finally, special thanks to members of the Marketing Department for their valuable advice and helpful input.
The MSDM program will train students to lead in a field of business where the demand for digital marketing professionals is increasing rapidly. More firms now expect employees to be familiar with the extraction, processing, analysis and protection of data from various digital sources to assist them with digital marketing, social media engagement, data privacy and multi-channel resource allocation.
The MSDM is an analytically-oriented graduate program focusing on broader strategic issues of digital transformation as well as digital and social media marketing and strategy, online marketing decision models, digital branding, pricing, distribution, advertising, promotion decisions, customer management, machine learning and artificial intelligence applications in the digital domain. In addition, by addressing issues such as privacy and ethics, mitigating algorithmic biases, and curtailing the spread of misinformation, we will produce graduates whose actions will bear fruit for society’s common good. A vital element in this program will be an experiential learning opportunity through a new course, Applied Digital Marketing, where students will spearhead the design, deployment and optimization phases of live digital marketing campaigns.
The MSDM will also deliver on the college-level Objectives and Key Results for the Academy (OKRA) of engendering a diverse, equitable and inclusive culture. The program will continue the marketing department’s already strong track record of gender diversity, as over 65% of students across all marketing programs are female. In addition, a key priority will be creating cohorts of MSDM students with a rich diversity of backgrounds and perspectives where all students, including marginalized and underrepresented populations, are integral and meaningful members.
In many ways, the new MSDM is a natural extension of the digital marketing offerings the department has introduced in recent years. The department currently offers a Digital Marketing track for the UG Marketing majors, a Digital Marketing minor program for non-Mendoza undergraduates, and a STEM-designated Digital Marketing and Marketing Analytics major within the MBA program.
We are creating a website for this program and look forward to providing details as soon as it is ready.
Shankar Ganesan
John Cardinal O’Hara, C.S.C. Chairperson & Professor
Department of Marketing

Research Roundup

Martijn Cremers

Martijn Cremers

Monday, 21 March 2022
The following are highlights of recently published papers:
Sriram Somanchi, Assistant Professor of IT, Analytics, and Operations
"To Predict or Not to Predict: The Case of the Emergency Department" (Production and Operations Management)
We develop a novel two-stage prediction framework that improves the efficiency of hospital operations in terms of handoff from an Emergency Department (ED) to an inpatient facility. Working with a healthcare startup, we show that our method identifies subgroups of patients for whom we can send early signals to an inpatient facility about an admitting patient with limited information while still maintaining high accuracy. Our work has significant potential value to healthcare entities and contributes to a growing stream of work on how to best realize the value of healthcare analytics efforts.
John Costello, Assistant Professor of Marketing
Why Are Donors More Generous with Time than Money? The Role of Perceived Control Over Donations on Charitable Giving“ (Journal of Consumer Research)
Although nonprofits like charities tend to prefer money, experimental and field data demonstrate that donors prefer to donate time, even when doing so does less good for the cause. In this research, we demonstrate that this preference emerges because potential donors feel more personal control over their time (vs. money) donations. We use our conceptual model to design and test several interventions that nonprofits can use to more effectively generate donations of these two resources.
Ben Matthies, Assistant Professor of Finance
Long-run risk: Is it there?” (Journal of Finance)
This paper documents the existence of a persistent component in consumption growth. We take a novel approach using news coverage to capture investor concern about economic growth prospects. We provide evidence that consumption growth is highly predictable over long horizons – our measure explains between 23% and 38% of cumulative future consumption growth at the five-year horizon and beyond. Furthermore, we show a strong connection between this predictability and asset prices. Innovations to our measure price 51 standard portfolios in the cross-section and our one-factor model outperforms many benchmark macro- and return-based multi-factor models.
Mike Mannor, John F. O'Shaughnessy Associate Professor of Family Enterprise
Keep Your Eye on the Ball or on the Field? Exploring the Performance Implications of Executive Strategic Attention” (Academy of Management Journal)
Should CEOs focus on a wide set of strategic issues or just a few key issues? In this paper, my co-author and I develop a new textual analysis tool that shows how CEOs improve firm performance in most cases by focusing on a smaller number of strategic issues (ie. focus, focus, focus). However, broader attention is better when firms face weak market opportunities or are very efficient in using their current resources.
Sandra Vera-Muñoz, Associate Professor of Accountancy
Climate Risk Materiality and Firm Risk” (Review of Accounting Studies)
Using the SASB Materiality Map to proxy for market expectations of climate risk materiality, we test whether the association between disclosing climate risk in 10-Ks and firm risk (proxied by cost of equity) varies with market expectations of climate risk materiality. We find that the market rewards (penalizes) the firms for disclosing (not disclosing) climate risk in their 10-K filings. However, the penalty for nondisclosure is twice as large when the market expects climate risk to be material as compared to when the market does not expect climate risk to be material. Our results indicate that markets use expectations of climate risk materiality to infer the credibility of managers’ climate risk disclosure decisions. 
Congratulations, Sriram, John, Ben, Mike and Sandra on your publication success.
In Notre Dame,
Martijn

Guest column: Peter Easton and Lorie Marsh

Peter Easton and Lorie Marsh

Peter Easton and Lorie Marsh

Monday, 14 March 2022
For more than a decade the University has championed sustainability and ethical, responsible investing. The principles of sustainability are deeply embedded within the Catholic tradition and woven into the fabric of our Catholic mission; from the physical works on campus and in the community to the co-sponsored Vatican series of energy transition conversations hosted by Father Jenkins and the focus on a just transition to a sustainable future during the 2021 Notre Dame Forum events. Increasingly, however, it is evident that more must be done, and we must act quickly.
The Center for Accounting Research and Education (CARE) was founded in 2004 to support faculty in the creation and dissemination of accounting knowledge, strengthening the bridges between research, education and practice. As we pivoted to a virtual conference platform in 2021, we spent the summer speaking with experts around the globe, from climate scientists to fund managers, researchers and regulators, to activists and global heads of large accounting and investment firms.
A sea-change occurred during those discussions as we listened to the message, repeated over and over again, that business schools must do more to not only educate the leaders of tomorrow, but to address the climate crisis. The message was clear: universities, particularly US institutions, are late in acknowledging and responding to the climate and sustainability issue. We are not adequately educating our students for the professions they are entering.
In response to this message, I announced last September that CARE will shift our focus to sustainability and responsible investing with the creation of three initiatives:
  • A cross-listed hybrid undergraduate/masters level course entitled Accountability in a Sustainable World, offered beginning Fall, 2022
  • A journal entitled Accountability in a Sustainable World Quarterly, that will address the research gap between practice and education 
  • A shift in focus of the annual CARE Conference to matters of sustainability and responsible investing.
The course, currently cross listed as Sustainability Studies Minor course SUS 40160, ACCT40160, MSA70173, and MBA70173, will also be cross listed with Finance. It is designed to develop future sustainability leaders by active engagement with key participants, critical synthesis of research on measurement of climate change effects and movement toward quantifiable achievable goals. The course is open to juniors, seniors and graduate students from all disciplines across the university.
Students will meet exemplary professionals that have one thing in common—they are working to transform our current climate change and environmental crises into societal opportunity. Highly motivated students who have a strong interest in climate change, sustainability, and ways that they would like to become influencers and responsible guardians of the future of our planet are encouraged to enroll. The full syllabus can be viewed here.
The founding editors of Accountability in a Sustainable World Quarterly recognize the immediate need for dialogue among academics and practitioners about sustainability, accountability, data and measurement, related assurance, high quality information to inform (responsible) investment decisions and accountability in setting of personal, corporate and public sector goals. The aim of the journal is to meet this need. It will be cross-disciplinary, with a focus on measurement, assurance of the measurements and use of the measures in the broadest sense. The short articles, authored by academics and practitioners, have an intended readership comprising both groups. More on the journal can be found here.
The 2021 CARE Accounting for Sustainability and Responsible Investing Conference was held in cooperation with Sustainable Investment Forum North America 2021, in partnership with the United Nations Environment Programme Finance Initiative, hosting 2,035 delegates worldwide. The Forum’s mission is to mobilize sustainable investment towards a 1.5°C world, by convening a global audience representing asset owners and investment managers, institutional investors, pension funds, banks, development banks, policymakers, think tanks and NGOs to continue to build the momentum for sustainable finance and responsible investment.
The 2022 CARE Conference will be held at the United Nations COP27 in Sharm El-Sheikh, Egypt, in November. Keep an eye on the CARE website for further details. If you would like to be added to the invitation list, please email Lorie Marsh at lmarsh1@nd.edu.
Sincerely,
Peter Easton, Academic Director, CARE; Editor in Chief, Accountability in a Sustainable World Quarterly; and Notre Dame Alumni Professor of Accountancy
Lorie Marsh, Program Manager, CARE; Editorial Manager, Accountability in a Sustainable World Quarterly

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