I want to recognize four Mendoza faculty members who are retiring as of the end of the 2023-2024 academic year. Together, they represent more than 100 years of dedication and service to Notre Dame as teachers, researchers, administrators and many other roles. 

Jeff Bergstrand, Professor of Finance.  Jeff has been a professor at Mendoza for more than 30 years, a fellow of Notre Dame’s Kellogg Institute for International Studies and a research associate of CESifo, an international network of researchers based in Europe.  His research on international trade flows, free trade agreements, foreign direct investment, multinational firms and exchange rates has been published in more than 60 articles in such journals as the American Economic Review and as chapters in books. Jeff also has been a visiting scholar at the European Commission in Brussels, the IFO Institute/University of Munich, ETH University in Zurich, and several other institutions, and has advised the European Commission on the effects of EU-U.S. nontariff barriers and EU-free trade agreements on their trade flows. He is a former president of the International Economics and Finance Society.

Matt Bloom, Research Professor Emeritus of Management & Organization (retired December 2023). Matt joined Mendoza in 1996. During his tenure, he launched the Wellbeing at Work Program in which he and his team studied flourishing among the helping and caring professions. He is co-founder of Ritual Media, a platform offering well-being and spiritual practices from some of the world's leading experts. Matt has received almost $10 million in grant funding to support his research and won numerous teaching awards, including the Rev. Edmund P. Joyce CSC Award for Excellence in Undergraduate Teaching and the Traditional MBA Outstanding Teacher Award. 

Bob Essig, Associate Teaching Professor of Marketing. Bob has served as an instructor and speaker at Mendoza for more than 25 years at the graduate and undergraduate levels. His professional expertise includes sales management, B2B sales careers and business ethics. Essig was an executive for IBM’s Midwest Region from 1977 until retiring in 2011, where he managed more than 100 sales professionals and account representatives. Essig served as president of the board for United Health Services in South Bend, Indiana, from 2000 to 2006, and as the United Way Campaign chair at IBM for St. Joseph County from 1990 to 2011. 

Roger Huang, Professor Emeritus of Finance (retired December 2023). Roger joined Notre Dame in 2000 after previously teaching and conducting research at Vanderbilt University, the University of Florida, MIT and Purdue University. During his tenure, he served as Finance Department chair, associate dean for research, interim dean and the Martin J. Gillen Dean (2013-2018). As a professor, he taught global finance in the Executive MBA program and multinational financial management in the MBA and undergraduate programs. His areas of research expertise included international financial management and financial market microstructure. He was voted the best teacher in the Executive MBA program four times, as well as the best teacher in the MBA program; he also has received the Teaching Excellence Award on three occasions.

Please join me in extending a deep appreciation to Jeff, Matt, Bob and Roger for their scholarship, collegiality, friendship and enduring commitment to Our Lady’s University. Congratulations to you all!

In Notre Dame,

Martijn

What a wonderful commencement weekend, from the sunny weather and the beautiful ceremonies, to seeing graduates with their families celebrate this important occasion in their lives. 

The weekend brought a number of special moments, including Father John’s farewell address and a rousing performance by the High Kings. 

During the Graduate Diploma Ceremony, we had a very literal illustration of the Notre Dame family. We celebrated a mother-daughter graduation as Denise Wright received her Executive MNA while daughter Kelley Wright earned her MBA. And two other MBA grads, Roger Loesch Jr. and David Sobek, graduated with the same degree as their fathers 38 years later! (Both named after their fathers, as well!) 

During the Undergraduate Diploma Ceremony, Andrew Daigneau, who nearly lost his life in a motorcycle accident about two years ago, fulfilled his goal of walking the stage with his classmates to receive his degree on time. (He also had a special cover made for his prosthesis with real gold from the dome regild!) The applause was thunderous as he received his diploma.

Both Mendoza ceremonies were grand, meaningful and very well executed, and represented the spirit of service of our faculty and staff. (Watch the Undergraduate recap video here and the Graduate recap video here!)

They also took an army of faculty and staff volunteers. I am thankful to the many of you who played a part in the success — some with public roles, some behind the scenes. My special thanks to the following:

Undergraduate Commencement Committee and Volunteers: Katherine Alan, Brandy Babcock, Tammy Bilotta, Deb Coch, Mary Coghlin, Carol Elliott, Nick  Farmer, Claire Fitzgibbon, Kari Friestad, Laura Glassford, Ron  Grisoli, Ashley  Heberling, Lisa  Heming, Helen  High, Rachel  Karnafel, Helen  Keefe, Rob  Kelly, Tabitha  Kingsbury, Santhosh  Lakkaraju, Shane  McCoy, Minhee  Myung, Maggie  Neenan-Michel, Jessica  Noffsinger, Kara  Palmer, Dana  Pierce, Amy  Radvansky, Amanda  Rink, Emily  Sharp, Gina  Shropshire, Jessica  Tezich, Tess  Tullman, Charissa  Warne, Kyle Way, Andrew Wendelborn and Barbara Westra.

Graduate Programs Commencement Committee: Teresa True, Christine Gramhofer, Cathi Kennedy, Sherry Nadai, Regan Nadai, Chad DeWeese, Samantha Crisp, Meghan Huff and Zoe Bonnichsen.

Graduate Programs Commencement Volunteers: Angela Sienko, Annette Tysver, Bill Schenher, Brandy Babcock, Cassie Kline, Cassie Smith, Christopher Fruehwirth, Claire Fitzgibbon, Crystal Boser, Dana Pierce, Dave Grundy, Diego Wang, Emily Marrese, Hermalena Powell, Jessica Stookey, Jodi Campbell, Katherine Alan, Kim Brumbaugh, Kyle Way, Lisa Michaels, Michael Mueller, Nadia Ewing, Nick Farmer, Nicole Velasquez, Phil Drendall, Richard Yoo, Santosh Lakkaraju, Shane McCoy, Sherry Nadai, Stephanie Brown, Stephanie Drudge, Suzanne Witt, Tabitha Kingsbury, Tahra Taylor, Tim Cichos, Tracey Plenzler, Tracy Kulwicki, Vasilisa Mikhailova, Zach Stabrowski, Megan Huff, Wendy Walker, Shelley Arredondo-Rice, Joseph Torma and Connie Varga.

Video and Photography Support: Lauren Slygh, Lucas Eggers and Carol Elliott.

Swag Sale Volunteers: Chris Grenert, Carol Elliott, Zara Osterman, Minhee Myung, Stephanie Brown, Rebecca Wood, Shane McCoy, Dave Grundy, Phil Drendall, Nick Farmer, Jen Wade, Barb Westra, Chad DeWeese, Dana Pierce, Vasilisa Mikhailova, Hank Gettinger and Santhosh Lakkaraju.

Below is more information about the two diploma ceremonies and a list of the teaching awards bestowed by the University, the College, the academic departments and the degree programs.

My sincere gratitude to all as we closed out another successful academic year!

In Notre Dame,

Martijn

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UNDERGRADUATE STUDIES

A total of 594 undergraduates received their diplomas:

• Accountancy: 61
• Business Analytics: 126
• Business Technology: 3
• Finance: 300
• Management Consulting: 50
• Marketing: 54

UNIVERSITY TEACHING AWARD

Rev. Edmund P. Joyce, C.S.C., Awards for Excellence in Teaching: Mitch Olsen, Richard J. Huether Associate Teaching Professor of Marketing

COLLEGE LEVEL - UNDERGRADUATE AWARDS

Joe and Gina Prochaska Family Teaching Award: Robert Lewandowski, Associate Teaching Professor of ITAO

ACADEMIC DEPARTMENT TEACHING AWARDS

Accountancy

• James Dincolo Outstanding Professor Award: John Donovan, Gerspach Family Associate Professor of Accountancy
• James Dincolo Outstanding Research Award: Andrew Imdieke, Associate Professor of Accountancy
• James Dincolo Outstanding Teaching Award: Sandra Vera-Muñoz, Associate Professor of Accountancy
• James Dincolo Outstanding Teaching Award: Tonia Hap Murphy, Teaching Professor of Accountancy
• James Dincolo Outstanding Service Award: Tim Morrison, Associate Teaching Professor, and Fred Mittelstaedt, KPMG Collegiate Professor of Accountancy

Finance

• Outstanding Undergraduate Professor Award: Walt Clements, Teaching Professor of Finance
• James Dincolo Outstanding Research Award: Ben Golez, Associate Professor of Finance
• Prochaska Outstanding Teaching Award: Sophie Shive, Associate Professor of Finance
• Department of Finance Outstanding Teaching Award: Margaret Forster, Teaching Professor of Finance
• Department of Finance Distinguished Service Award: Katherine Spiess, Associate Professor of Finance

IT, Analytics, and Operations

• Zachary Plantz Outstanding Undergraduate Teaching Award: Sharif Nijim, Assistant Teaching Professor of ITAO
• Outstanding Research Award: Nicholas Berente, Professor of ITAO
• Prochaska Family Teaching Award: Yoon Seock Son, Assistant Professor of ITAO
• Outstanding Teaching Professor Award: Jennifer Waddell, Teaching Professor of ITAO
• ITAO Department Faculty Service Award: Corey Angst, Jack and Joan McGraw Family Collegiate Professor of ITAO

Management & Organization

• Outstanding Undergraduate Professor Award: Wendy Angst, Teaching Professor of M&O
• M&O Distinguished Researcher Award: Cindy Muir, Professor of M&O
• Prochaska Outstanding Teaching Award: John Busenbark, Mary Jo and Richard M. Kovacevich Associate Professor of M&O
• M&O Outstanding Teaching Faculty Award: Tim Balko, Associate Teaching Professor of M&O
• M&O Faculty Service Award: Jason Colquitt, Franklin D. Schurz Professor of M&O

Marketing

• Outstanding Undergraduate Marketing Professor: Susan Kleiser, Teaching Professor of Marketing
• Department of Marketing Outstanding Research Award: John Costello, Assistant Professor of Marketing
• Prochaska Outstanding Teaching Award: Yixing Chen, Assistant Professor of Marketing
• Department of Marketing Outstanding Teaching Award: Tim Bohling, Teaching Professor of Marketing
• Marketing Faculty Service Award: Robert Essig, Associate Teaching Professor of Marketing

GRADUATE PROGRAMS

Altogether, we awarded 613 graduate business diplomas:

• MBA-OY: 38
• MBA-TY: 96
• EMBA SB: 55
• EMBA CH: 41
• MSBA CH: 20
• MSBA-R: 79
• MSBA-SA: 30
• MSM: 71
• MSA: 67
• MSF: 39
• MNA: 38
• EMNA: 39

GRADUATE PROGRAM TEACHING AWARDS

• Traditional MBA Outstanding Professor Award: Howard Lanser, Adjunct Associate Teaching Professor of Finance
• Arnie Ludwig Outstanding Professor Award for the South Bend Executive MBA Program: Robert Battalio, William and Cassie Daley Collegiate Professor of Finance
• Leo Burke Outstanding Professor Award for the Chicago Executive MBA Program: Michael Meyer, Teaching Professor of Accountancy
• Master of Nonprofit Administration Outstanding Professor Award: Francis Bilson Darku, Assistant Professor of ITAO
• Executive Master of Nonprofit Administration Outstanding Professor Award: Jennifer Waddell, Teaching Professor of ITAO
• Master of Science in Management Outstanding Professor Award: Katherine Spiess, Associate Professor of Finance
• Master of Science in Business Analytics Outstanding Professor Award: Ahmed Abbasi, Joe and Jane Giovanini Professor of IT, Analytics, and Operations
• Master of Science in Business Analytics, Sports Analytics, Outstanding Professor Award: Brandon Erlacher, Associate Teaching Professor of ITAO.
• Master of Science in Business Analytics-Chicago Outstanding Professor Award: Fred Nwanganga, Associate Teaching Professor of ITAO.
• Master of Science in Accountancy James Dincolo Outstanding Professor Award: Jamie O’Brien, Teaching Professor of Accountancy
• Master of Science in Finance Outstanding Professor Award: Jeffrey Bacidore, Associate Teaching Professor of Finance

I’m pleased to announce the 2024 recipients of the Mendoza Mission Research Award, an annual recognition of Mendoza research papers published in high-quality academic journals that exemplify the College’s imperative to “Grow the Good in Business.” 

Five papers were chosen from nominations submitted across the College, with one award winner in each department:

ACCOUNTANCY
Brad A. Badertscher, Deloitte Professor of Accountancy
Assurance Level Choice, CPA fees, and Financial Reporting Benefits: Inferences from U.S. Private Firms (Journal of Accounting and Economics)
Many U.S. private firms choose either a financial statement compilation or review rather than the higher assurance provided by an audit, yet little is known about these choices. The researchers find that CPA fees more than double for each increment in assurance. Commonly used financial reporting quality proxies are higher for both reviews and audits relative to compilations but are statistically indistinguishable between reviews and audits. The study also finds that assurance-level choices are associated with bank debt, trade credit and control concerns.

FINANCE
Jun Yang, Assistant Professor of Finance
Bank Stress Testing: Public Interest or Regulatory Capture? (Review of Finance)
The researchers test whether the influence on regulators affects banks’ stress-test outcomes. They find that the Too-Big-to-Fail banks face the toughest tests. Despite their more conservative capital plans, the large banks still fail their tests more frequently than other banks. In contrast, while the study finds little evidence that political or regulatory connections affect the quantitative element of the stress tests, these connected banks face less scrutiny under the qualitative dimension.

IT, ANALYTICS, AND OPERATIONS
Yoonseock Son, Assistant Professor of IT, Analytics, and Operations
Kaitlin Wowak, Robert & Sara Lumpkins Associate Professor of Business Analytics
Corey Angst, Jack and Joan McGraw Family Collegiate Professor of IT, Analytics, and Operations
Gender Mismatch and Bias in People-Centric Operations: Evidence from a Randomized Field Experiment (Journal of Operations Management)
In an increasingly digital world, understanding how gender bias manifests is imperative. In partnership with an online platform offering weight management programs and consultation services, this study shows that revealing the consultant’s gender encourages customers to leave more reviews and higher ratings, with the impact more pronounced when the consultant is female. Gender mismatches, where the client and consultant are of opposite genders, result in higher ratings and increased engagement compared to gender matches. 

MANAGEMENT & ORGANIZATION
Dean Shepherd, Ray and Milann Siegfried Professor of Entrepreneurship
Intersectionality in Intractable Dirty Work: How Mumbai Ragpickers Make Meaning of Their Work and Lives (Academy of Management Journal)
The challenge of dirty work is intensified when it is intractable — when it is difficult, if not impossible, for a person to avoid doing this work. This study of meaning making in the face of intractable dirty work examines ragpickers in Mumbai, India, who handle and dispose of garbage, and are further tainted by belonging to the lowest caste in Indian society and by living in slums. These ragpickers constructed both an overarching sense of helplessness rooted in the intractability of their situation, and a set of positive meanings — survival, destiny, and hope — rooted in specific facets of their lives.

MARKETING
Frank Germann, Viola D. Hank Associate Professor
Frontiers: Breaking the Glass Ceiling: Empowering Female Entrepreneurs Through Female Mentors (Marketing Science)
Governmental and nongovernmental organizations invest billions of dollars every year providing training programs to emerging market entrepreneurs. Many of these programs involve providing entrepreneurs with mentors. Unfortunately, the effects of these programs are often muted, or even null, for woman-owned firms. Against this backdrop, the researchers tested whether gender matching, where female entrepreneurs are randomly paired with a female mentor, could help address the gender gap. Findings from a randomized controlled field experiment with 930 Ugandan entrepreneurs showed that firm sales and profits of female entrepreneurs guided by a female mentor increased by, on average, 32% and 31% compared with the control group. In contrast, female entrepreneurs guided by a male mentor did not significantly improve their performance.

Please join me in congratulating the award recipients. We will celebrate their work during a special event in spring 2025 recognizing the winners of 2024 and 2025. Last year's celebration was a big success, and all in attendance seemed to greatly enjoy hearing a high-level summary of the research projects. Recipients also will be featured on the Mendoza Faculty Awards website and digital signage.

In Notre Dame,

Martijn

DEI Case Competition 2024

On April 12, the College hosted the third annual Diversity, Equity and Inclusion Grow the Good in Business™ Case Competition. Building on the success of the competition in 2022 and 2023, we opened this formative DE&I experience to all undergraduate and graduate students across the University of Notre Dame this year, requiring one student per team to be affiliated with Mendoza. The case focused on the rise of private equity in health care and its role in addressing health equity.

Health equity not only aligns with principles of justice, fairness and human rights, but healthier populations are also more productive, leading to economic benefits for society and increased social and economic mobility. Over the past two decades, private equity firms have become interested in the health-care sector. While this interest has generated scrutiny regarding quality of care and increased spending, some experts are optimistic that the private equity industry could provide health-care organizations with the capital they need to improve patient care, expand access and drive innovation. 

Students in the 2024 case competition were challenged with devising a for-profit investment that brings better balance to our health-care system. Their tremendous and bold ideas ranged from telehealth platforms and community gardens to meal kits for SNAP users. The proposed solutions served populations such as expectant mothers and rural communities, and involved for-profit and nonprofit organizations, social impact investors and a wide range of community partners. 

Congratulations to finance major Ellen Lundblad (BBA ’24) and physics in medicine major Renee Maslak (ND ’24) for winning first place on the undergraduate track of the competition, and Hannah Darr (MNA ’24), Caitlin Cruickshank (MNA ’24) and Katie Bardine (MNA ’24) for their first place finish on the graduate track.

The competition was a great success again this year, measured by the participation of students, faculty and staff, representation across Mendoza programs and majors, and support from the companies providing various forms of sponsorship. Seventy-nine students entered from nine graduate programs and 20 undergraduate majors. The competition engaged 23 first round and 11 final round judges from different stakeholder groups and was supported by 13 sponsoring organizations.

Financial sponsors returning from previous years included KPMG, ADP, South Bend-Elkhart Regional Partnership, 1st Source Bank, Notre Dame Deloitte Center for Ethical Leadership and Fanning Center for Business Communication. We also welcomed new sponsorship from Beacon Health Foundation, Notre Dame Institute for Global Investing, Fitzgerald Institute for Real Estate, Impact Assets and Lucy Family Institute for Data and Society. The exceptional financial sponsorship from these organizations allowed the College to award $35,000 in prizes to the top six teams in the competition, with the two winning teams – one undergraduate and one graduate – receiving $20,000 overall. 

A major accomplishment of this year’s competition was the extent to which the College involved multiple stakeholders, including faculty and staff from both within and outside of Mendoza, as well as alumni. Participation by these groups ranged from serving as faculty coaches for teams and holding pitch practices and office hours, to serving as first and second round judges. 

A special thanks to the following members of our own Mendoza community for providing this support: Randy Harrison, John Michel, Pat Gibbons, Jim O’Rourke, Carolyn Langley, Jeff Bernel, Sophie Shive, Jessica McManus Warnell, Brett Beasley, Mindy Evans, Andy Wendelborn, Jessica Stookey, Joe Sweeney, Tahra Taylor, Joe Holt, Lindsey McIntyre, Sherry Nadai, Natalie Sargent, Jennifer Wade and Kelly Rubey. I am also grateful to Stephanie Drudge, Lara Brian, Minhee Myung, Hether Graham and Zara Osterman for their significant leadership in elevating the case competition experience for our students this year.

The Diversity, Equity and Inclusion Grow the Good in Business™ Case Competition is one of the College’s many endeavors which reinforces that the pursuit of equity is essential to good business and to our charge at Mendoza. On April 12, the stellar work of our students in incorporating DEI ideals into real-world business plans confirmed what most of us already know, which is that our students are leaving Notre Dame with the important and essential capacity to be ethical business leaders. Our futures are certainly in good hands. 

In Notre Dame,

Kristen

Kristen Collett-Schmitt
Associate Dean for Innovation and Inclusion 
Teaching Professor, Finance