From the Dean's Desk

“Bearers of Gratitude”

Martijn Cremers

Martijn Cremers

Monday, 22 November 2021
Image
In his final message of 2020, the end of a difficult year, Pope Frances said, “Above all, let us not forget to thank: If we are bearers of gratitude, the world itself will become better, even if only a little bit, but that is enough to transmit a bit of hope.”
What I appreciate most about the pope’s message is that we are charged to thank as an action, to be “bearers of gratitude” in a mindful way that supports and sustains others and therefore brings hope, even in a small way. He reminds us that gratitude is a mindset that recognizes, in everything, the grace we’ve been given:
“The prayer of thanksgiving always begins here: to recognize that grace precedes us. We were thought of before we learned how to think; we were loved before we learned how to love; we were desired before our hearts conceived a desire.”
“If we view life like this, then ‘thank you’ becomes the driving force of our day.”
We have many great opportunities to be bearers of gratitude in fulfilling our mission at Mendoza, and the evidence of the faithfulness of our faculty, staff and students is abundant throughout our history. I see the evidence daily in the way you serve our students, each other and our larger community.
In this season of Thanksgiving, I’m thankful to all of you for your hard work, compassion and spirit of grace. May the holiday be one of blessings and rest for you and your families.
In Notre Dame,
Martijn
Prayer for Thanksgiving Day
Father all-powerful, your gifts of love are countless and your goodness infinite. On Thanksgiving Day we come before you with gratitude for your kindness: open our hearts to concern for our fellow men and women, so that we may share your gifts in loving service.
We ask this through our Lord Jesus Christ, your Son, who lives and reigns with you and the Holy Spirit, one God, for ever and ever. Amen.

Research Roundup

Martijn Cremers

Martijn Cremers

Monday, 15 November 2021
I’m pleased to highlight recent faculty research published in top academic journals:
Zhi Da, Howard J. and Geraldine F. Korth Professor of Finance
Short selling efficiency (Journal of Financial Economics)
We propose a new variable called short-selling efficiency (SSE) to measure whether short sellers devote more capital to more overpriced stocks. We show conceptually and empirically that SSE has favorable predictive ability over aggregate short interest, as SSE reduces the effect of noises in short interest and better captures the amount of aggregate short-selling capital devoted to overpricing.
Paul Gao, Professor of Finance
Good for your fiscal health? The effect of the affordable care act on healthcare borrowing costs (Journal of Financial Economics)
Since its passage in 2010, the Affordable Care Act (ACA) has grown to provide health coverage to more than 31 million people (including the Medicaid expansion) and survived three challenges before the Supreme Court. We use the health-care municipal bond market to study hospital credit risk around the implementation of the ACA. Health-care providers issued significant municipal health-care bonds — the primary source of financing for nonprofit hospitals, which represent about 70% of all hospitals in the U.S. We show that the ACA significantly reduced hospital credit risk. The immediate yield change represents $360 million in aggregate interest savings on all health-care municipal bonds issued from mid-2012 to 2015.

Hong Guo, Professor of IT, Analytics, and Operations
Xuying Zhao, Associate Professor of IT, Analytics, and Operations
The Role of Expectation‐Reality Discrepancy in Service Contracts (Production and Operation Management)
Service contracts are common practice in some industries while being eliminated in others. To investigate this phenomenon, we identify expectation–reality discrepancy (ERD) as a key determinant. A provider's ERD is defined as consumers’ ex-ante expected valuation minus their ex-post realized valuation of the provider's service. Our analysis reveals that providers’ contract strategies critically depend on their ERDs rather than the true service valuations. 

Ann Tenbrunsel, David E. Gallo Professor of Business Ethics 
The Opportunities and Challenges of Behavioral Field Research on Misconduct (Organizational Behavior & Human Decision Processes)
Research on behavioral misconduct and ethics across many fields has provided important managerial and policy implications, but has primarily relied on laboratory experiments and survey-based methods to quantify and explain predictors of and mechanisms behind such behavior. This introductory article in a special issue devoted to field studies of unethical behavior goes beyond summarizing the articles by offering a methodological classification of field research on misconduct, discussing the challenges facing behavioral field studies and identifying the tools that might mitigate them. Our goal is to provide a foundation that helps build a cross-disciplinary, integrated view of the field evidence on behavioral misconduct as well as to encourage future work that employs the best empirical practices.

Joonhyuk Yang, Assistant Professor of Marketing
Commercial Success Through Commercials? Advertising and Pay-TV Operators (Journal of Marketing Research)
The study examines the role of advertising in the growth of direct satellite services (such as DirecTV or Dish Network) in the U.S. pay-TV service market that was dominated by cable operators until the 1990s. In particular, the study provides evidence that a form of advertising scale economies was in effect as the unit costs of local advertising tend to be higher than those of national advertising, which likely allowed the satellite operators to better leverage their national presence with (cheaper) national advertising. Overall, this study highlights the interaction between advertising efficiencies and the scale of entry in explaining the competition between market incumbents and entrants.
Thank you, Zhi, Paul, Hong, Xuying, Ann and Joonhyuk, for your efforts to advance your disciplines and our research reputation.
In Notre Dame,
Martijn

Centennial Mass Homily

Martijn Cremers

Martijn Cremers

Monday, 8 November 2021
Image
Faith is a Verb
During the Mendoza Centennial Mass on September 30, Father Oliver Williams delivered a beautiful homily that recalled the life of our founding dean, John Cardinal O’Hara, and the charge highlighted in the passage below that continues to inspire us:
O'Hara understood the great challenge of living the gospel in his time. … The reading from the letter of James says, "If a brother or sister has nothing to wear and no food for the day, and one of you says to them, 'Go in peace, keep warm and eat well,' what good is that?" And of course the point that James is making is that faith is not just a noun, it's a verb. If we have faith we're implied to action, to try to in our own small way, make the world a better place for us having been there.
The highlighted passage reminds us that our work at Mendoza is an expression of our faith and our collective commitment to make the world a better place. It is an encouragement to consider the larger picture as well as an affirmation of the importance of our individual roles. Our history is made up of the individual contributions of people like you whose faithful service has made the world a better place for having been here.
Our mission at Mendoza is to make “faith” into a verb, to quote Father Williams. This thought is reflected in three key and interrelated themes in the papal encyclical, Laudato Si’: Creation is a gift from a loving God; everything in the world is connected; and there is a divine call for a change in our personal response to God’s gifts.
Father Ollie also mentioned what is probably O’Hara’s best-known expression that “[t]he primary function of commerce is to serve humankind,” explaining its origin as his answer to a negative outside perception of the role of business schools:
O'Hara, as I mentioned, was not afraid of controversy. In fact, the year after he took over as dean, the 1923 Dome — Dome is the yearbook of Notre Dame — mirrored many of the sentiments of the time. And the Dome said, and I quote, "Universities are becoming man factories, mere means for training men to make money. The business courses are popular, the liberal arts courses are neglected. Our measure of success is money making."
John Cardinal O'Hara, just a priest at that time, answered quickly. And I quote. He says, "The primary function of commerce is to serve humankind. Business has a code of ethics based very largely on divine principles. And when the code is followed, commerce can and does advance civilization. The College of Commerce has a real function. It should send people into business with a sound knowledge of business theory, with the sort of character that should grace a gentleman of the world, with lofty ideals of citizenship, and a sound conception of business morality based on the seventh commandment and the eight Beatitudes. And this person should have a character that will put those principles into practice under whatever temptations the world might offer."
I hope you find encouragement in considering our history as a long record of service to humankind made up of the individual contributions of people like you. We find examples of our commitment to our mission in the grace and generosity of our community every day. To name just two: Cathi Kennedy wrote a deeply touching “Make Your Mark” essay about serving as a sacristan for daily Mass, where she describes the comfort of worshipping with students and colleagues. John Sikorski recently contributed a beautiful Faith ND reflection about Luke 16:9-15 reminding us of one of Jesus’ “hard sayings” about our call to stewardship.
My thanks to Father Williams for his timely and meaningful homily, and to the many others who made the Mendoza Centennial Mass a special event. I encourage you to watch the video of the Mass to hear the entire homily. My thanks also to Cathi and to John for their reflections, and to all of you for your many acts of service to the College and Our Lady’s University.
In Notre Dame,
Martijn

Guest Column: Kristen Collett-Schmitt

Kristen Collett-Schmitt

Kristen Collett-Schmitt

Monday, 1 November 2021
Image

DE&I Case Competition

In his message to the College earlier this year, Dean Martijn Cremers reasserted the University’s commitment to diversity, equity and inclusion, noting that these principles are foundational to our imperative to Grow the Good in Business.
For me, his message was a call to action. Each of us, in our various roles across the College, were being called to use our work of educating future business leaders to guarantee that diverse voices, experiences and backgrounds are valued, respected and nurtured.
It is in this spirit that I am excited to announce the Diversity, Equity and Inclusion Grow the Good in Business™ Case Competition for the spring 2022 semester. This competition joins the forces of Mendoza graduate students and business leaders who are committed to equity and inclusion in the workplace. The competition, open to residential Specialized Master’s students in this inaugural year, will challenge students to solve a business case focused on a current DE&I issue while engaging with companies willing to share their real-world challenges and expectations in striving for a more equitable society.
We expect the chosen case to intersect all business disciplines and thus be applicable to all Specialized Master's students, regardless of whether they study business analytics, finance, accounting, management or nonprofit administration.
Because diversity, equity and inclusion are a business imperative for successful organizations, this case competition will serve as a form of experiential learning for our Specialized Master’s students.  As such, my key partner in this initiative is Joan McClendon, associate director for Specialized Master’s Experiential Learning. Our goals for the case competition include:
  • Send a signal, both internally and externally, that our Specialized Master’s programs strive to be diverse and inclusive.
  • Provide an educational experience that reflects the broader society, as well as the challenges and expectations of real businesses.
  • Equip students to enter the real world as leaders after graduation.
  • Create mutually beneficial relationships between Specialized Master’s students and corporate sponsors.
The Diversity, Equity and Inclusion Case Competition will kick off on Friday, February 4, and the final awards ceremony will be Friday, April 1. Between the launch and close of the competition, a series of educational and networking events will be held with corporate sponsors for students who opt-in to the competition. Prize money will be awarded to the top three finalists. A summary of key dates is below:
  • February 4: Competition begins 
  • February 4 - March 4: Educational and networking events
  • March 4: Round 1 deadline
  • March 18: Top 10 finalists announced
  • March 25: Round 2 deadline
  • April 1: Finals / top 3 winners announced
Corporate sponsors will play a key role in the case competition. Meijer, 1st Source, Gibson Insurance and the State of Indiana will mentor students and gain innovative ideas for advancing diversity, equity and inclusion in their organizations. We hope that you will play an important role, too! We encourage faculty and staff members who are interested in serving the College through planning and execution of this event to sign up using this Google form.
We are excited to add to the growing list of diversity, equity and inclusion initiatives in the College, all which support the dignity of the human person and work towards a culture where we succeed together.
In Notre Dame,
Kristen
Kristen Collett-Schmitt, Ph.D.
Associate Dean for Specialized Master's
Associate Teaching Professor of Finance

OKRAs

Dean Martijn Cremers

Dean Martijn Cremers

Monday, 25 October 2021
“Objectives and Key Results for the Academy” (OKRAs) refers to a collaborative goal-setting framework for defining objectives and their outcomes in a measurable way. OKRAs provide a practical way for us to set objectives, track progress toward specific outcomes, and align and connect to the OKRAs of the University. 
Provost Marie Lynn Miranda’s OKRAs for the University contain the strategic priorities that the provost plans to focus on for the 2021-2022 academic year:
  1. Improve the experience of faculty and students of color on campus.
  2. Actively manage the University during the ongoing global pandemic in ways that strengthen Notre Dame over the long term.
  3. Maintain excellence in delivering on Notre Dame's vision for undergraduate education.
  4. Enhance graduate and professional programs.
  5. Enhance research at Notre Dame and its impact externally.
  6. Determine the key academic priorities that will animate the University Strategic Framework and the upcoming Comprehensive Campaign.
The College’s OKRAs align with the provost’s and reflect our main priorities. The OKRAs for 2021-2022 listed below are the outcome of many conversations with faculty and staff leaders in the College.
#1: Emphasize Research Excellence. The first objective is to continue to advance our scholarly contributions. Key results for this academic year are:
(i) Launching of the Ph.D. Program in Management and the Ph.D. Program in Analytics, under the leadership of professors Jason Colquitt and Ahmed Abbasi, respectively.
ii) Starting the Business Ethics and Society Program, which was recently endorsed by our College Council and which will facilitate the hiring of tenure-stream and teaching faculty in the area of business ethics and how business contributes to society, under the leadership of professors Jim Otteson, Ann Tenbrunsel and Fr. Ollie Williams.
iii) Expanding resources for faculty and research, where we hope that both benefaction and net tuition revenue from graduate programs can help to hire additional faculty.
#2: Engender a Diverse, Equitable & Inclusive Culture. The second objective is in regards to our efforts to promote diversity, equity and an inclusive, welcoming environment. Key results are:
(i) Proactively recruiting faculty and staff members who will help us become a more diverse community.
(ii) Focusing on engagement and retention, and introducing more programming that promotes equity and inclusion for faculty, staff and students.
(iii) Creating a “culture of encounter” by finding ways to meet others whom you might not encounter during the course of your usual day; i.e., being intentional about getting to know each other, caring for each other and creating this culture of encounter within and across faculty, staff and student groups.
#3: Enhance Undergraduate Curriculum. The third objective is to enhance our undergraduate curriculum, where we are aiming for the following key results:
(i) Continuing the launch of our Business Honors program, which started this fall semester and consists of 53 sophomores, and is led by faculty director Jim Otteson and program director Craig Iffland.
(ii) Reviewing our undergraduate curriculum under the leadership of associate dean Jim Leady, who is working with the department chairs and me. Some of the goals include increased flexibility for our students while enabling more specialization.
(iii) Integrating analytics across the curriculum, facilitated by requiring all business majors to take the new Coding Fundamentals with Python course by the end of their sophomore year.
#4: Elevate the Notre Dame MBA and Specialized Master’s Programs. The fourth objective is to elevate our graduate programs academically, especially in terms of how the students experience the programs, with a focus on:
(i) Growing applications and enriching the class profile, plus improving the student experience across their entire student journey — from marketing and admissions to student services and operations, academic learning, leadership development, career services and alumni relations.
(ii) Completing the move of the MBA program into the Stayer Center as the MBA’s new “home,” adding team rooms, renovating the third floor lounge and adding other amenities. 
(iii) Expanding experiential learning opportunities, including through the Meyer Frontlines Program and the new Mods Away initiative starting Mod 2 of this year with MBA students going to ND California.
#5: Engage in Strategic Planning & Continuous Improvement. The fifth objective is to create a new strategic plan and continue improving our organization, processes and systems, including:
(i) Renewing our strategic plan using the University’s planning process in order to translate our ambitious vision for the College into a strategic plan that will guide all of our departments and programs, ensuring that our efforts will contribute to our common goals, including specific strategic plans for DE&I, research growth, the MBA program and so on. This includes developing a comprehensive DE&I strategic plan for the College that aligns with the University’s objectives and provides guidance for efforts to advance inclusiveness and a culture of engagement for our students, faculty and staff.
(ii) Completing the matrix organizational restructuring and staffing of functions to support the entire College. We have made significant progress on this objective, including the realignment of our graduate programs into the MBA and Specialized Master’s Programs portfolios, restructuring Graduate Career Development and reorganizing Marketing and Graduate Enrollment’s functional groups to bring paid advertising strategy in house. Our focus going forward is to ensure organizational efficiency and that our teams have a good understanding of individual roles and how they contribute to the larger mission of the College.
(iii) Continuously improving our technology and processes to make our matrix organization as effective and efficient as possible in serving our students and helping our staff members carry out their roles and responsibilities. These last two goals involve collaborations between Rob Kelly, Kara Palmer, Tim Bohling, the associate deans and the academic directors, so it’s a big effort and a very important step in accomplishing our fourth objective of elevating our graduate programs.
I hope the list of OKRAs gives you some idea of the College’s priorities for this academic year. The associate deans, staff directors and myself would be glad to receive your feedback and ideas.
In Notre Dame,
Martijn

Latest from the Dean