From the Dean's Desk

Guest column: Kara Palmer

Martijn Cremers

Martijn Cremers

Monday, 15 March 2021
Staff DE&I Council Update
As you have heard from Dean Cremers, there are many ongoing efforts across the College to advance diversity, equity and inclusion among our students, faculty and staff. Our Staff Diversity, Equity and Inclusion Council has been working hard since forming in December 2020 to identify opportunities for conversation, but more importantly with a goal of instituting action and change. I write today to acknowledge the hard work, dedication and commitment of this team and to share the work that has been done as well as efforts underway.
The Staff D&EI Council’s purpose is to create and sustain an inclusive culture for all Mendoza staff by fostering an environment of dignity, respect and fairness that is grounded in our Catholic mission. This is accomplished under the umbrella of three subcommittees with collective but varying charges:
RECRUITING AND TALENT SUBCOMMITTEE: Co-chaired by María Stutsman y Márquez and myself, the subcommittee is charged with developing a strategic recruiting and hiring plan to deploy to all staff hiring managers across the College to broaden the pool of applicants. In addition, this team is responsible for increasing awareness and building connections to leadership and hiring managers to diverse talent. The subcommittee also identifies training and development opportunities to better prepare diverse staff for professional advancement.
In the next couple of weeks, a new staff hiring process will be shared with hiring managers with clear expectations and requirements for job postings, candidate pool makeup, selection committees and evaluations. As part of the selection process, subcommittee members will serve as Diversity Catalysts who facilitate dialogue with hiring managers and selection committees to ensure staff searches are conducted in an equitable manner. They also are charged with creating a welcoming and inclusive environment for candidates throughout the interview process.
CULTURE AND INCLUSIVITY SUBCOMMITTEE: Chaired by Amanda Jacobson, the subcommittee is focused on how we can exemplify our commitment to diversity and inclusion in our everyday interactions with our colleagues, faculty, students and the greater Mendoza community.
One of the first priorities for the team is to draft a D&I Statement of Commitment on behalf of the Council. The primary purpose is to signal the College's commitment to staff diversity, equity and inclusion in all that we do. I’m pleased to share that progress is being made toward crafting a statement that will honor the voices and perspectives of our community. We look forward to including this message in future staff job postings and other communications from the DE&I Council.
Additional priorities for the Culture & Inclusivity subcommittee include reviewing and making recommendations for enhancements to our Mendoza Exchange intranet’s DE&I webpage, engaging with and sharing the good work of its fellow subcommittees, and enhancing opportunities for storytelling that celebrates our differences and encourages understanding.
ENGAGEMENT & EDUCATION SUBCOMMITTEE: Chaired by Joan McClendon, the subcommittee is responsible for researching, creating and deploying diversity and inclusion learning opportunities through the sourcing and development of educational resources, courses, workshops and activities. The team recently introduced the College to its first Compassionate Listening Series to create the opportunity for meaningful dialogues and to deepen relationships among colleagues. Members of the first cohort met on Feb. 26 where they shared their voices and support for one another on key questions related to race and diversity at Mendoza in a safe space. In addition, the team is partnering with Carol Elliott and the Communications team to feature stories in Mendoza Exchange that celebrate our diverse faculty, staff, student and alumni achievements.
In addition to these efforts, the entire Council is establishing a pulse survey to identify gaps and opportunities, to measure progress and to ensure accountability for ongoing growth and development. The survey’s intent is to collect both quantitative and qualitative data in a confidential/anonymous manner throughout the year. The Council will also be partnering with College leadership to establish clear DE&I objectives and goals that will be shared across the College and with University leadership as part of our commitment to elevate and improve.
A special thank you to all of our committee members and to College Leadership for the commitment, time and passion invested to help us grow towards the future.
Recruiting and Talent: Kimberly Bakle, Phil Drendall, Nick Farmer, Martin Johnson, María Stutsman y Márquez, Lindsey McIntyre, Kara Palmer, Tahra Taylor and Janel Zakrzewski-Kuntz.
Culture and Inclusivity: Angela Byce, Christopher Hillak, Melissa Jackson, Amanda Jacobson, Kelli Kilpatrick, Santhosh Kumar Lakkaraju, Min Hee Myung, J.R. Nemelka, Ryan Retartha and Diego Wang.
Engagement and Education: Brian Connelly, Christine Gramhofer, Lisa Heming, Jen LaPrad, Joan McClendon, Jessica Noffsinger, Shelly Sterling, Teresa True and Wendy Walker.
This is a journey with so much work still to be done. Culture change requires the ongoing commitment and leadership of everyone within the College. We invite and encourage all to share their stories, provide input and recommendations to any member of the Council.
In Notre Dame,
Kara
Kara J. Palmer
Director of Administration
Office of the Dean
Mendoza College of Business
University of Notre Dame

Advancing women leaders

Martijn Cremers

Martijn Cremers

Monday, 8 March 2021

Women’s History Month reminds us of the many women whose contributions throughout the College’s 100-year history have significantly shaped its mission and strategic vision. Last week, I wrote about our efforts to advance gender diversity among our faculty. This week, I want to emphasize and acknowledge the many women in academic leadership positions, including department chair, academic program and department director, associate dean and other administrative positions.

As with our faculty, the number of women filling these important roles has increased during the past decade. Current faculty directors include: Wendy Angst, assistant Management & Organization department chair; Viva Bartkus, faculty director of the Meyer Business on the Frontlines Program; Gianna Bern, academic director of the Master of Science in Finance-Chicago; Kristen Collett-Schmitt, associate dean of Specialized Masters Programs; Jennifer Cronin, director of Undergraduate Studies for M&O; Angela Logan, St. Andre Bessette Academic Director of Master of Nonprofit Administration; Amanda McKendree, Arthur F. and Mary J. O'Neil Director of the Fanning Center for Business Communication; Katherine Spiess, academic director of the (forthcoming) Master of Science in Finance-Residential; Sandra Vera-Muñoz, Deloitte Foundation Department Chair of Accountancy; and Jennifer Waddell, assistant ITAO department chair and director of Undergraduate Studies for ITAO.

We also have several women in department and functional director roles. Current directors include: Erin Bellissimo, managing director of the Notre Dame Institute for Global Investing; Carol Elliott, director of Communications; Tracy Freymuth, director of Student Services for Residential Graduate Programs; Christine Gramhofer, director of Executive Graduate Programs; Kelli Kilpatrick, MBA program director; Morgan McCoy, director of operations for Mendoza Graduate Programs; Letecia McKinney, Behavioral Research Program director; Alice Obermiller, director of Experiential Learning and Leadership Development; Kara Palmer, director of Administration; and María Stutsman y Márquez, director of Graduate Recruiting and Admissions.

An additional group of faculty members that we would like to recognize for their leadership is our full teaching professors: Wendy Angst, M&O teaching professor; Gianna Bern, finance teaching professor; Margaret Forster; finance teaching professor; Laura Hollis, accountancy teaching professor; and Tonia Murphy, accountancy teaching professor.

To continue to advance gender inclusion and equity in the College’s administration, we recently established two efforts focused on undertaken several targeted efforts:

  • The Mendoza Staff Diversity Coordinator, whose responsibility is to better focus and advance the College’s DE&I efforts and initiatives, and promote a culture of respect for diversity at Mendoza. Kara Palmer is serving in this important role, with a focus on recruiting and hiring; engagement and education; talent identification and development; and promotion of diversity, equity and inclusivity as part of the culture of Mendoza.
  • The Mendoza Staff Diversity, Equity & Inclusion Council, which is overseen by Kara and comprised of staff members from across the College. The Council’s purpose is to create and sustain an inclusive culture for all Mendoza staff by fostering an environment of dignity, respect and fairness that is grounded in our Catholic mission. These efforts will be facilitated through the College’s ongoing and continuing efforts to attract, retain and promote staff from all backgrounds, perspectives and abilities.

These are just two examples of the many efforts at Mendoza to advance gender diversity, equity and inclusion. I’m thankful to all those at the College who contribute to a respectful, equitable work and social environment.

In Notre Dame,

Martijn

Women’s History Month

Martijn Cremers

Martijn Cremers

Monday, 1 March 2021
On Friday, the University will celebrate International Women’s Day and Women’s History Month by recognizing outstanding Notre Dame faculty members whose research, teaching and expertise have significantly contributed to their disciplines and our larger understanding of the world. For 2021, the theme is "Women in Leadership: Achieving an Equal Future in a COVID-19 World.”

I’m pleased to announce that Cindy Muir (Zapata), associate professor of Management & Organization, will represent Mendoza this year. Cindy, who joined Mendoza in 2019, has developed a body of research on organizational justice and trust, with a focus on the ways in which perceptions of individual behaviors and of race and gender differences may affect the relationships between managers and employees.

Cindy’s research provides important insights into the complexities of race and gender in the workplace and reminds us of the critical importance of advancing diversity, equity and inclusion in our own work culture. As discussed in a previous message, DE&I is a top priority of the University, directly related to all three core pillars of Catholic social teaching (human dignity, solidarity and subsidiarity) and thus to Mendoza’s imperative to Grow the Good in Business.

One area of focus is the hiring and promotion of more female faculty. We currently have three female full professors: Ann Tenbrunsel, David E. Gallo Professor of Business Ethics (M&O); ITAO professor Hong Guo, who was promoted to full professor in May 2020; and Kirsten Martin, who joined Mendoza in 2020 as the William P. and Hazel B. White Center Professor of Technology Ethics. 

In addition, we have a number of tenured associate faculty members including: Viva Barktus, associate professor of Management & Organization; Stephannie Larocque, Notre Dame Associate Professor of Accountancy; Cindy Muir (Zapata), associate professor of Management & Organization; Sophie Shive, Viola D. Hank Associate Professor of Finance; Katherine Spiess, associate professor of Finance; Sandra Vera-Munoz, associate professor of Accountancy; and Xuying Zhao, associate professor of IT, Analytics, and Operations.

These developments signal improvements in gender diversity in our faculty over the past decade. We hope to continue making strides in the coming years. Our efforts to recruit female faculty include:

  • Adding the position of faculty diversity advocate: In collaboration with the Notre Dame Office of the Provost and Mendoza’s department chairs and search committees, the faculty diversity advocate seeks to increase the number of highly qualified faculty candidates from underrepresented groups. Ken Kelley, senior associate dean for faculty and research, currently serves in this role. The responsibilities include working to recruit, hire, retain and promote diverse faculty, from casting a wide net to increase diversity in the applicant pool to working to ensure any concerns and impediments to success are removed.
  • Participating in the PhD Project: Since 2003, Mendoza has participated in this effort to advance workplace diversity by increasing the diversity of business school faculty. Every regular faculty job is advertised at the PhD project as well as other outlets to “cast a wide net” when searching for faculty recruits. 
I encourage you to read Cindy’s story when the 2021 ND Women Lead feature is posted on Friday, as well as the Mendoza Business magazine story about her research, “The Humility Paradox.” I also encourage you to read about our past International Women’s Day honorees: Ann Tenbrunsel, Hong Guo, Katherine Spiess, Kristen Collett-Schmitt and Viva Bartkus. 

I’m thankful to all of our faculty and staff members who continue to advance the cause of DE&I through their research, teaching, leadership and personal commitment.

In Notre Dame,

Martijn

Guest column: Doug Franson

Martijn Cremers

Martijn Cremers

Monday, 22 February 2021
Contract management at ND
The University has implemented a new contract management tool called ContractsND that is now available and will become mandatory as of July 1. The system is a component of buyND, but it has been configured in partnership with Notre Dame General Counsel (NDGC) to be the default pathway for contracts to be executed for the University.
The aim is to ensure compliance with Notre Dame policy and contractual terms, to provide greater visibility of the contract process and store copies in a reliable and accessible repository, and to make contract management more efficient.
I’ve outlined below the process for managing contracts appropriately, but I want to clarify two points:
First, for our purposes, a contract is any agreement that includes terms and conditions, and requires a signature. An example might be signing an agreement for a block of hotel rooms or arranging for new software. Contracts cover a lot of areas, so if you’re unsure, please contact me or to finance team member Emilia Taylor. We will be happy to review your document and advise.
Second, the authority to sign a contract on the University’s behalf is restricted to only designated individuals as determined by the Operational Delegation of Authority. For Mendoza, the University has designated sole authority to Dean Martijn Cremers to sign contracts up to a value of $250,000. He has sub-delegated this responsibility to me for operations-related contracts and to Ken Kelley for research/data related contracts.
This is an important point: No one else at Mendoza is authorized to approve or sign contracts. Further, contracts with a value above $250,000 require the signature of the University provost or the president.
If you are considering a contractual agreement on behalf of the University, here are the next steps:
1. You should submit the contract to Emilia along with the following background information:
  • What is the purpose of this contract?
  • Is the contract related to research, data or software?
  • What is the anticipated total dollar value of the contract?
  • Does your department have an ongoing relationship with this vendor?
  • Who is the main point of contact in your department for managing the contract?
  • Is there a firm deadline or target date by which you wish to have a response?
2. Emilia will submit the contract and background information for a legal review to the Notre Dame General Counsel’s Office via ContractsND.
3. Once General Council approves the contract, they will route it back to Mendoza for review and signature (Martijn or myself). If the contract involves research, data or software, David Yeh and Brandon Greenawalt may review it and advise as well.
4. When the contract has been executed, copies will be stored in the University Contract Repository.
One more thing to note: In the past, you may have contacted Beth Smith for help in getting contracts signed. With the implementation of ContractsND, Emilia is now taking over this responsibility. Many thanks to Beth for her help managing the College contracts over the past nine years!
I expect that as the ContractsND tool is brought fully online, there will be some additional information and training opportunities. It's important that we understand how contracts should be handled so that we act as good stewards of the resources and responsibilities entrusted to us and to avoid potential misunderstandings down the line. If you have questions, please don’t hesitate to contact me.
In Notre Dame,
Doug
Doug Franson
Director of Finance & Facilities

Research Roundup

Martijn Cremers

Martijn Cremers

Monday, 15 February 2021
I’m glad to share with you a sample of recently published research by our faculty, highlighting one paper in each of our academic departments:
Jessica Watkins
Assistant Professor (Accountancy Department)
“Usefulness of Interest Income Sensitivity Disclosures” (The Accounting Review)
The study examines multiple dimensions of usefulness of banks’ interest income sensitivity disclosures. We find these disclosures are predictive of future realized changes in net interest income and appear to be used by a number of market participants, including financial analysts and equity investors. These results suggest that interest income sensitivity disclosures are informative measures of interest rate risk and contradict assertions that these disclosures are useless due to lack of relevance of income sensitivity, poor modeling techniques, and/or redundancy relative to regulatory data.
Johnathan Loudis
Assistant Professor (Finance Department)
"The Conditional Expected Market Return" (Journal of Financial Economics)
Understanding the behavior of expected stock market returns is important for both practitioners and academics alike. In this paper, we develop a new method for estimating upper and lower bounds on the conditional expected market return at any date. Our theoretical and empirical results offer new insights into the origins and behavior of the expected market return. For instance, according to our measures the average expected market return is about 5.2% per year, but it is highly volatile and reaches levels as high as 64% during the 2007-2008 financial crisis.
Xuying Zhao
Associate Professor (IT, Analytics, and Operations Department)
“Preorder Price Guarantee in E-commerce” (Manufacturing & Service Operations Management)
With the development of the internet and e-commerce, retailers often offer preorders for new, to-be-released products. To encourage preorders, retailers such as Amazon offer preorder price guarantee (PG). This research finds that PG enables a firm to profit from preorder demand uncertainty. If preorder demand uncertainty is high, a firm should adopt PG in advance selling. If preorder demand uncertainty is low, then a firm should adopt PG if and only if the percentage of high-valuation consumers is high. 
Ann E. Tenbrunsel
David E. Gallo Professor of Business Ethics (M&O Department)
“It’s Just Business”: Understanding How Business Frames Differ from Ethical Frames and the Effect on Unethical Behavior” (Journal of Business Ethics)
The perspective, or "frame," by which a decision maker examines a decision has a significant impact on their unethical behavior. More specifically, we find that viewing a decision through a business frame leads to more unethical behavior than viewing the exact same decision through an ethical frame. We further find that the decision processes are different between a business and an ethical frame, and that we can change the behavior associated with a frame by explicitly changing the decision processes.
James Otteson
John T. Ryan Jr. Professor of Business Ethics (Marketing Department)
"Democracy and 'People Over Profit’" (Georgetown Journal of Law and Public Policy)
One central argument supporting democratic political institutions is a principle of equal moral agency, which holds that all people, as free and responsible persons of dignity, are entitled to liberty, rights, privileges and obligations equally, which in turn entitles them to an equal say, or vote, in their government. This paper argues that honorable business in a properly functioning market economy is also based on a principle of equal moral agency, which similarly grants consumers a say, or "vote," in business activity. Thus, some versions of the "people over profits" objection raised to business activity miss the mark: Profit-seeking firms, when operating honorably, do not privilege people over profits; instead, they use democratic profit signals to guide production of benefit to all their stakeholders.
My thanks to these Mendoza faculty members and the many others whose research supports and informs our mission to enlighten and educate.
I also encourage you to attend the Notre Dame Ethics Week events this week via Zoom (see schedule below). The series features a number of our faculty members and students presenting different perspectives of the theme of “Beginning with Empathy: Listening and Learning from Others.” Thank you to Chris Adkins, Jessica McManus Warnell, Viva Bartkus, Joe Sweeney, Kelly Rubey, Ken Milani and Brian Levey for serving as speakers and moderators.
In Notre Dame,
Martijn 

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