Last week was a special time of celebration for the Notre Dame family. I hope you were able to attend the inauguration events and I appreciate those of you who served in various roles, from picnic setup to serving as marshals. 

I was inspired and challenged by Father Bob Dowd’s call to action to Notre Dame, as one of the most trusted universities in the world, to embrace an attitude of “both/and” to build bridges in our polarized times – both faith and reason, research and teaching, local and global,  the life of the mind and the matters of the heart, deeply Catholic and welcoming people of all faiths. Father Bob outlined three groundbreaking commitments of his new administration, including that the University will be loan-free and need-blind for all undergraduates, both domestic and international.  I encourage you to listen to his address.

Today, I’m also pleased to highlight recent research published in top academic journals:

Ben Golez, Associate Professor of Finance
Holding Period Effects in Dividend Strip Returns (Review of Financial Studies)
The researchers estimate short-term dividend strip prices using 27 years of S&P 500 index options data (1996-2022). Their findings reveal that short-term strips have Sharpe ratios similar to or better than the market, with low market beta and positive alpha. Additionally, term premia and Sharpe ratios vary countercyclically, while alphas trend pro-cyclically.

Andre Martin, Assistant Professor of Marketing
Can Words Speak Louder than Actions? Using Top Management Teams’ Language to Predict Myopic Marketing Spending (Journal of Marketing)
This research introduces a text analysis method to predict myopic marketing spending (cutting your marketing and R&D budget) by analyzing Top Management Teams' language in earnings calls. Using linguistic analysis of nearly 11 million sentences from over 25,000 earnings call transcripts, the model predicts short-term marketing decisions up to a year in advance. The approach outperforms existing models, offering earlier warnings and 1.61% higher annual returns, helping reduce information asymmetry for investors and boards.

Daewon Sun, Professor of IT, Analytics, and Operations
Shawn Qu, Assistant Professor of IT, Analytics, and Operations
Yoonseock Son, Assistant Professor of IT, Analytics, and Operations
Capitalizing on the Moment: The Strategic Role of Information Disclosure in Online Crowdfunding (Production and Operations Management)
Online crowdfunding platforms offer new opportunities for entrepreneurs to secure funding, but the timing of campaign updates remains unclear. Using machine learning-based text analysis and econometric models on a dataset from a leading online crowdfunding platform, this study shows that updates are most effective in early stages and their effectiveness varies with project’s fundraising performance. Timing is crucial for inexperienced creators, whereas experienced creators gain more from the richness and positive sentiment of the update content.

Ann Tenbrunsel, David E. Gallo Professor of Business Ethics
Bridging the Chasm between Intentions and Behaviors: Developing and Testing a Construal Level Theory of Internal Whistle-Blowing (Organization Science)
The study examines how and why elements of the organizational ethical infrastructure – the set of formal (i.e., codes, policies) and informal systems (i.e., unwritten rules) – motivate ethical whistleblowing intentions and convert those intentions into behaviors. The researchers find that top management communication systems cultivate whistleblowing intentions, and ethical surveillance and sanctioning systems help convert those intentions into behaviors; further, construal level explains these findings. 

Hal White, Vincent and Rose Lizzadro Professor of Accountancy
Testing the Waters Meetings, Retail Trading, and Capital Market Frictions (Review of Accounting Studies)
Before an IPO, firms can now engage in private (“Test The Waters”) meetings with institutional investors to discuss firm details. While these meetings are argued to be beneficial, they have the potential to undermine the SEC’s objectives of protecting investors and supporting market efficiency by allowing institutional, but not retail, investors privileged access to management. The study suggests that while TTW meetings may harm retail investors, there does not appear to be a negative impact on overall market function.

Thank you to Ben, Andre, Daewon, Shawn, Yoonseock, Ann and Hal for your research contributions. 

In Notre Dame,

Martijn

Greetings to you all as we begin the third week of the 2024-25 academic year and prepare to inaugurate Notre Dame's 18th president!

I write to share some new developments and enhancements to our undergraduate business program:

New Associate Dean
As part of her new role as associate dean for the undergraduate and specialized master's programs, Kristen Collett-Schmitt brings welcome support and immense experience to academic director Amanda McKendree and me as we plan for and strategize the future of Mendoza's undergraduate program.

Advising Transitions in 101 Mendoza
Last month, the Office of the Provost announced an Undergraduate Academic Advising Initiative that will transform the way undergraduate academic advising is conducted on campus. In brief, what this means for Mendoza is that during the 2024-25 academic year, we will move from the current model of four First Year advisors (dedicated to Mendoza first-year students and reporting to the Center for University Advising) and our team of four Mendoza advisors (who advise sophomores, juniors and seniors) to a combined four-year advising model staffed by nine four-year advisors employed fully by Mendoza. This is very welcome news for us in Mendoza, as for more than two years Dean Martijn Cremers and I have been strongly encouraging the University to consider this new model. We believe that the outcomes of this initiative will benefit and better serve both all of our Mendoza undergraduate students and the members of our combined advising team.

Maximizing Mendoza and Mentorship
In fall 2023, we piloted a new one-credit general elective course, BAUG 13100 Maximizing Mendoza. The course aims to showcase the academic offerings provided by each Mendoza academic department and various career opportunities and resources, while also encouraging students to build a professional brand aligned with both their personal values and Mendoza values. Feedback from the 100 undergraduate business students who voluntarily registered for the course was wildly positive, with 91% recommending the course to future first-year students and 96% reporting that they were glad they took the course.

This fall, in alignment with the dean's objective to create more mentorship opportunities for Mendoza undergraduates, the course is offering a peer mentorship opportunity in collaboration with the Business Honors Program (BHP). Though not a course requirement, more than 90% of first-year students opted to be part of this pilot in which first-year Mendoza students taking Maximizing Mendoza will be paired with a Mendoza senior in the BHP who will serve as a trained peer mentor.

Mentorship has been a core component of the Business Honors Program since it launched in 2021. BHP mentorship program manager Helen Keefe (MBA '23) shares:

"The BHP challenges its students to discern the specific ways in which they can take seriously the call to serve others, using the intellectual, moral and professional formation they receive to advance the common good and the integral development of society. Closely aligned with this vision, the mentoring program in the BHP was designed to assist students in matters of career discernment and advancement. Mentoring can help them recognize opportunities for personal growth and formulate concrete strategies to address those areas where they see they most need to improve."

At the end of this fall's pilot, we're hopeful that our first-year students will report a greater sense of belonging in Mendoza and that our Mendoza seniors serving as peer mentors will find the experience of assisting younger students transformative.

If I've kept your attention this long, please know that I share my very best wishes with you now and throughout the year. And go Irish!

Andy

Andrew W. Wendelborn
Assistant Advising Professor
Assistant Dean for Undergraduate Studies

It seems like I was just wishing you a great summer break and here we are, ready to start a new academic year! We have a lot to look forward to, including the groundbreaking for our North Addition, which will usher in a new era for the College by providing enhanced spaces for research, teaching and gathering together.

Of course, one of the best parts of a new year is the new people who are joining our community. This fall, we are welcoming (back) 505 First-Year business intents; 1,880 business undergraduates; more than 500 graduate students across nine programs and 18 Ph.D. students. You can view more Mendoza facts at a glance here.

We also are welcoming 15 new faculty members. In addition to their areas of research interests, each one also provided a quote about how she or he chose their particular area of study or why they joined Notre Dame.

ACCOUNTANCY

Yadav Gopalan, Assistant Professor of Accountancy
Research Interest: Financial accounting with a particular emphasis on the role of regulation in shaping bank risk-taking and financial system stability.
“I am very excited to join the accountancy faculty at Notre Dame.  I am looking forward to working with my colleagues on cutting-edge research and engaging with students in the classroom.  My family and I are looking forward to being part of the Notre Dame and Mendoza communities!”

Lisa Tiplady, Assistant Professor of Accountancy
Research Interest: Audit and financial reporting with a focus on the financial services industry.
“I couldn't be more excited about joining the faculty at Notre Dame and the Accountancy Department in particular. My colleagues are some of the top researchers in the field and I have been very impressed by the department's support for research and dedication to maintaining a collegial and student-focused environment.” 

BUSINESS ETHICS AND SOCIETY PROGRAM

David Cloutier, Professor of Theology and concurrent appointment in Business Ethics and Society Program
Research Interest: The development of Catholic social thought in a way that is informed by critically appropriated social science, especially economics and sociology.
"I'm excited to join the Mendoza team after many years teaching in theology at The Catholic University of America and Mount St. Mary's University. Working with business students and faculty here gives us a wonderful opportunity to connect the principles of Catholic social thought and economic ethics to the concrete practices of business, helping us aim at the vocation of business leaders to produce good goods, foster good work, and create good wealth for all."

Gregory Robson, Associate Research Professor
Research Interest: Business ethics, technology ethics and Christian ethics.
“We seem to be approaching — or are now in — a technological revolution driven by AI. As a philosopher in the Business Ethics and Society Program, I examine the interface of business and technology, the ethics of profitable firms, justice and the common good, and the pursuit of holiness in commercial society.”

FINANCE

Pedro Garcia-Ares, Visiting Assistant Professor
Research Interest: The study of information flows between the stock and the derivatives market; on the analysis of investor's risk-taking and skewness-seeking behavior; and on the incentives of professional money managers and the impact of their investment decisions on financial markets.
“My research in asset pricing, financial derivatives, and their intersection with other markets comes from a drive to go deeper and further than I could in my previous non-academic role. With derivative markets now surpassing stock markets in size and complexity, and few truly understanding their intricacies, Notre Dame’s leading professors and collaborative environment offer the perfect setting for me to explore and advance our understanding of these crucial financial tools.”

Leandro Sanz, Assistant Professor
Research Interest: Corporate finance, financial intermediation, supply chains and intangible assets.
“My undergraduate studies in economics and mathematics and experience as a quantitative research analyst at the Federal Reserve Bank of Richmond inspired me to pursue a Ph.D. in finance.”

Andrea Tamoni, Associate Professor
Research Interest: Asset pricing, macro-finance and econometrics.
“I'm fascinated by the complexity of global asset markets and the intricate relationship between risk and return that drives asset prices. My passion lies in translating research into actionable strategies, using quantitative methods to analyze and respond to macroeconomic and financial market changes. I strive to equip students with the tools, confidence, and networks they need, grounding their learning in real-world examples and precise analysis.”

IT, ANALYTICS, AND OPERATIONS

Eojin Han, Assistant Professor
Research Interest: The use of operations research and data analytics to address operational challenges caused by limited information on uncertainty and arising in healthcare, supply chains and service systems.
“I am passionate about analytics and operations because I am fascinated by how quantitative methods can be applied to solve real-world business decision-making. With a background in mathematics and engineering, I bring a unique perspective to address operational challenges, creating distinctive opportunities for both research and teaching.”

Junyuan (Joe) Ke, Assistant Teaching Professor 
Research Interest: IT analytics and social media platforms.
“I recently earned my Ph.D. in Information Systems where I discovered my passion for teaching from working with MBA and MSBA students. Though I haven’t taught undergrads yet, I’m excited to see if my millennial jokes still resonate with the younger audience.”

Cameron (Cam) Kormylo, Assistant Professor
Research Interest: The behavioral and ethical impacts of artificial intelligence.
"As a former undergraduate in the ITAO department here in Mendoza, I am thrilled to be back home! My work explores the behavioral and ethical impacts of artificial intelligence. I designed and now teach a course on how organizations can internally audit their own AI systems through a sociotechnical lens. I decided to pursue a career in academia after Wendy Angst sat me down and said, ‘Cam, you need to be a professor.’ Now, our offices are only a few doors apart!"

Chengcheng Zhai, Assistant Professor
Research Interest: The optimization of humanitarian and nonprofit operations with a particular emphasis on drinking water access in rural Africa.
“I explore strategies to enhance the efficiency and effectiveness of aid distribution and infrastructure development in underserved regions, aiming to make a tangible impact on the communities most in need.”

MANAGEMENT & ORGANIZATION

Dana Bement, Assistant Professor
Research Interest: Corporate governance and strategic leadership with an emphasis on boards of directors and Chief Executive Officers.
“I became interested in corporate governance research through service on nonprofit boards. I am fascinated by how boards make decisions and how CEOs influence board process. I am thrilled to be joining Notre Dame because it offers a wonderful sense of community while also supporting high-quality research.” 

Amanda Sharkey, Associate Professor
Research Interest: The impact of Social and cultural factors on organizational behaviors and firm performance.
“My research sits at the intersection of strategy and sociology, as I study how social and cultural factors affect economic behaviors and outcomes for firms. I’m looking forward to sharing my perspective with Mendoza undergrads in my Foundations of Strategy course, as well as teaching in the doctoral program.”

MARKETING

Jianna Jin, Assistant Professor
Research Interest: The impact of digital technology on consumer behavior.
"I wanted to join Notre Dame for its amazing people and culture. Our department is filled with people who are collaborative, research-focused and willing to help you succeed. I think that is the environment that any junior faculty would want to be part of.” 

Keyan Li, Assistant Professor
Research Interest: The integration of machine learning and economic theories to develop sustainable business strategies.
"I entered the field of marketing after developing an interest in interdisciplinary topics and methods beyond my pre-doctoral economics training. My research aims to develop sustainable business strategies for new market players. Currently, my research focuses on maximizing the informational value of scarce experiments, and I am also interested in solving incentive and product design problems in innovation, as well as at its intersection with AI."

Please join me in wishing a warm welcome to all. It’s going to be a great year!

In Notre Dame,

Martijn

In September, we have the historic opportunity to participate in the inauguration of Father Bob Dowd (ND ’87), C.S.C., as president of Notre Dame. Father Bob is just the 18th president in the University’s 182-year history and the first transition in nearly 20 years.

I have met Father Bob several times since joining Notre Dame in 2012. In every interaction, I’ve been impressed with his kindness, his global experience as a scholar that informs his vision for how Our Lady’s University can be a force for good around the world, his emphasis on teamwork as “a way of life at Notre Dame” and his commitment to serving our students. (I recommend watching Lou Nanni’s “For Good” interview with Father Bob and reading Notre Dame Magazine’s profile to learn more about our new president.)

Father Bob played an integral role in creating Notre Dame 2033: A Strategic Framework, which presents Notre Dame’s 10-year plan to become the leading global Catholic research university, on par with but distinct from the world’s best private universities. The framework presents four foundational and enduring goals, which form the basis for Mendoza’s strategic plan: Catholic character, undergraduate education and formation, graduate education, and research and scholarship. The plan also lays out an overarching theme: “Becoming the Notre Dame the world needs will require the University to become better at thinking as an institution.” I find this inspiring and highly relevant to our ongoing efforts to innovate our programs at Mendoza.

Father Bob also is the president and chair of Notre Dame Forum 2024-2025. With the theme of “What Do We Owe Each Other?” forum events will explore how Catholic Social Thought can promote understanding with those whose perspectives are different from our own and bring about healing amid suffering and injustice. 

The inauguration marks a new era for Notre Dame. For all who work here, it’s a wonderful occasion to celebrate as a community. Classes will be canceled on September 13 to allow for full participation by faculty, staff and students in the planned events, and I especially encourage your attendance at the following: 

• September 11 (Wednesday), 5:00–8:00 p.m.: Celebratory Campus-Wide Inauguration Picnic, Library Lawn. All Notre Dame students, faculty, staff and their families are invited to enjoy free food trucks, lawn games and live entertainment, including a special performance by The High Kings.
• September 12 (Thursday), 11:00 a.m.: Notre Dame Forum: What Do We Owe Each Other? DeBartolo Performing Arts Center Leighton Concert Hall. Father Bob’s inaugural Forum symposium will feature a series of special “fireside chats” with international leaders in global development, philanthropy and the future of technology. 
• September 13 (Friday), 2:45 p.m.: Convocation and Inauguration Ceremony, Joyce Center Purcell Pavilion. All faculty are invited to assemble at the Main Building on Friday afternoon to process to the Joyce Center for the inauguration ceremony. Faculty will receive information about how to participate in early August, including an opportunity to RSVP for the procession and information on how they may rent academic regalia at no cost through the Hammes Bookstore. Each department is asked to take a photo of the gathered department that day to be added to a book to present to Father Bob as a symbol of faculty support as he begins his presidency.

• September 13 (Friday), 8:00 p.m.: Celebratory Concert for Notre Dame Community, Joyce Center Purcell Pavilion. The concert featuring Grammy Award winner Jon Batiste is open to all faculty, students and staff but tickets are limited. Registration is required. 
• September 16-20 (Monday-Friday): Notre Dame will partner with Habitat for Humanity of St. Joseph County on Inauguration Build 2024. Faculty, staff and students will have the chance to volunteer to help construct five affordable homes on South Bend’s Near Northwest Side. More information on how to sign up will follow.

With our mission to “grow the good in business to improve the human condition in an ever-changing society,” Mendoza has much to contribute to the future of the University. Let’s help kick off this new era by attending these important events and celebrating the good news of Father Bob’s inauguration together.

In Notre Dame,

Martijn