Pam Smith,
KPMG Professor of Accountancy, was named the Illinois CPA Society's 2008 Educator of the Year and media coverage on this was included in the Daily Chronicle (April 25, 2008). A highly intense state-wide competition, the Illinois CPA Society's selection of Smith as the award winner is a testament to her talents and abilities. Pam Smith's award continues a long tradition in the NIU Department of Accountancy. Prior Illinois CPA Society Educator of the Year award recipients include NIU Accountancy members Don Kieso (Professor Emeritus, award recipient in 1988), Pat Delaney (Professor Emeritus, award recipient in 1991), Richard Baker (Professor Emeritus, award recipient in 1993), and Debra Hopkins (Director, NIU CPA Review Program, award recipient in 1997). The Illinois CPA Society (ICPAS) is a statewide, professional membership organization that serves students, educators, and related finance professional. Founded in 1903, ICPAS boasts more than 22,700 members and is the fifth largest CPA society in the nation.
BusinessWeek's 2008 ranking of best undergraduate business schools continues to place the NIU business college within an elite group of b-schools nationwide. In 2008, the NIU College of Business ranked 81st nationally out of a very small group of 96 elite business schools that made BusinessWeek's final short-list of programs designated as The Best Undergrad B-Schools in the country. This year, NIU is one of only four Illinois schools to be included in BusinessWeek's short list, and NIU's ranking beats out other nationally known schools such as the University of Iowa (#84), Loyola (#91), and Fox Temple (#94).
Luis Flores, Associate Professor in the Management Department, was interviewed for the Rockford Register Star story "Building a Better Business" (January 21, 2008). The article describes the importance of building an integrated team of employees and managers, while stressing the impact such an integrated team makes on the overall success of a business. Within the article, Flores, whose expertise includes strategic planning in a global setting, describes the necessity of all company members working together, particularly in a fast-paced and rapidly changing global business arena.
Mark Rosenbaum, Assistant Professor in the Marketing Department, was cited in the January 13, 2008 edition of the Kane County Chronicle in the story What's in a name? Money. The article discusses the growing national practice of selling naming rights for sports stadiums, a practice which is also being considered for the Kane County Cougars. In the article, Rosenbaum shared his marketing expertise as it relates to this national trend. Rosenbaum also described advertising strategies for reaching trapped audiences in stadiums or grocery store lines where consumers may have learned to ignore marketing pitches.
Mark Rosenbaum, Assistant Professor in the Marketing Department, had his co-conducted research study discussed at length in an article on multicultural marketing. Rosenbaum's co-author is Detra Montoya, Professor at the University of Washington. Their research study -- "Am I welcome here?" -- explores how ethnic customers assess their comfort level in retail establishments and how that effects buying behavior and loyalty. The research findings indicate that "ethnic customers evaluate cues such as the ethnicity of other customers or employees, or verbal/non-verbal cues, to determine how strongly they relate to a retail environment." Rosenbaum and Montoya's co-conducted research study has generated increased discussion on the issues of discrimination in the marketplace, comfort zones in retail establishments, and how businesses can create more welcoming environments for ethnic patrons.
Gerald Jensen, Professor in the Finance Department, was interviewed by a Chicago Tribune reporter for his expertise on presidential election-year investment strategies. The Tribune story -- "It's Investor Doubts in a Landslide" -- appeared on the front page of the Chicago Tribune business section, and explored Jensen's co-authored research study entitled "Don't Worry About the Election, Just Watch the Fed," the findings of which previously received major national media attention. Jensen's co-authors of the research study are Robert Johnson, Managing Director at the CFA Institute, and Scott Byer, University of Wisconsin-Oshkosh Assistant Finance Professor.
January 2008 -- Stocks, Futures, and Options (SFO) Magazine Online
Gerald Jensen, Professor in the Finance Department, was interviewed by a SFO reporter and CNBC contributor on Jensen's co-authored research study "Gridlock's Gone, Now What?", which had previously received major national media attention (click to view). Written by NIU Finance professor Gerald Jensen, University of Wisconsin Oshkosh professor Scott Beyer, and CFA Institute Managing Director Robert Johnson, the study explores whether or not return on investments fair better during periods of political gridlock. The SFO story refers to Jensen's research study as a seminal piece. The SFO story is entitled "What's the Real X Factor? What could a Republican or Democratic U.S. President Mean for Future Markets?".
The Department of Management's Social Entrepreneurship course helps deepen business students' understanding of all aspects of business -- profit maximization and societal responsibility. Through the course, business students also gained exposure to microfinance, a field in which organizations make tiny business start-up loans (in the $50-100 range) to the poorest of the world's poor. In Fall 2007, students in the Social Entrepreneurship class travelled with their professor to Guadalajara, Mexico for first-hand exposure to the day-to-day lives of the women-owned enterprises benefitting from the microloans. Opportunity International, one of the first and most respected organizations in the field of microfinance, administered the microloans.
A sample of student comments about their experience follows. Full background on the college's Social Entrepreneurship course and relationship with Opportunity International can be found on the NIU College of Business Social Entrepreneurship pages.
"Through formal education, a student like myself can travel outside of his funnel. He can tell the world why the poor need help and the purpose of microfinance. Through interaction, he can share the success stories he observed amongst the poor. He has transformed himself and he is now transforming the world to develop and implement the solution to global poverty."
"From the experience with this class I have transformed. Though the class materials, speakers, clients, and the trip itself I have learned what social entrepreneurship and microfinance can do for others. It has inspired me to give back and encourage others to give back as well. The opportunity to be part of this class has given me the knowledge and experience to reinforcewhat I say as it pertains to giving back to others...which makes me a credible source to help others understand the significance one person can have on the world. Through speaking with the Barsema's, I have learned that you can have people donate to organizations in your name. I have decided that for Christmas I will have my family and extended family donate to Opportunity International in my name. Some in my family may judge me for doing this, but I feel that it starts with one person to change a family, the world."
The college's Social Entrepreneurship course and travels to Mexico also received press coverage:
Gerald Jensen, Professor in the Finance Department, co-authored a research paper, "Sector Rotation and Monetary Conditions," which received national media coverage. The research study seeks to provide some direction to investors on the heels of the recent Federal Reserve discount rate cut. Media outlets carrying Jensen's co-authored research findings include, among others:
NIU Finance Professor Gerald Jensen's co-authors are Robert Johnson, Managing Director of the CFA Institute Education department, C. Mitchell Conover, University of Richmond School of Business, Associate Finance Professor, and Jeffrey M. Mercer, Texas Tech University College of Business, Associate Finance Professor. Their research paper will be published in the Journal of Investing.
Rick Ridnour, Enterprise Rent-A-Car Professor of Sales in the Department of Marketing, was selected by many NIU students as their favorite business professor in BusinessWeek's 2007 evaluation of best undergraduate business schools in the nation; a component of the BusinessWeek ranking process included a student survey that asked who they considered to be the best professors and why. Ridnour topped the list for students because of his "interactive and hands-on teaching style," which includes putting students through several role-play assignments that challenge students to execute each step in the sales process. These role-play assignments are videoed and broadcasted live to their classmates, who then evaluate their performance from another location. To read the full article, click here and in the BusinessWeek search box, type "Sealing the Deal."
A recipient of numerous teaching awards, Ridnour has been awarded the prestigious NIU Presidential Teaching Award, NIU's Excellence in Teaching Award (both college and departmental levels), and the 2006 NIU Student Choice Award. Rick Ridnour teaches the "Principles of Selling" course offered out of the Marketing Department's Professional Sales Program. The Professional Sales Program has the distinction of being the first collegiate sales training program in the world to be certified by the Professional Society for Sales and Marketing Training (SMT). SMT certification means that the college's sales program provides its students with curriculum, faculty expertise, training, and facilities on par with leading sales training programs used by corporations. (October, 2007)
James Young- Chair of the Department of Accountancy, Crowe Chizek Professor of Accountancy - had his co-conducted research findings reviewed in the Wall Street Journal and AOL.com money & finance. The media story - "An Early Look at Tax Brackets for Next Year" - ran on September 26, 2007. By law, the Internal Revenue Service (IRS) is required each year to adjust many tax-related numbers, including income thresholds, in order to take into account cost of living increases; the IRS will release the new information later this year. In the meantime, Young and the other two tax analysts - George Jones of CCH and William Massey, RIA tax analyst at Thomson Tax & Accounting -- crunched the numbers and predict taxpayers will receive, in general, modest inflation-adjusted tax relief for year 2008.
Young's co-authors are George Jones of CCH and William Massey, RIA tax analyst at Thomson Tax & Accounting.
The NIU Accountancy program - a standout nationally for more than 20 years - was ranked 23rd best in the country by U.S.News & World Report in its ranking of best undergraduate programs (2008). More >>
Ted Moorman, Assistant Professor in the Finance Department, co-authored a research paper, "A Reexamination of Corporate Governance & Equity Prices," which explores the relationship between how a firm governs itself and share performance. (Click here for an abstract). The results of Moorman's co-conducted research were referenced in the July 2nd Wall Street Journal article "Finding the Best Measure of 'Corporate Citizenship.'" (Click here for the full article.)
NIU Assistant Finance Professor Ted Moorman's co-authors are Shane Johnson, Texas A&M University Finance Professor, and Sorin Sorescu, Texas A&M University Associate Professor of Finance.
Marketing Department Assistant Professor Mark Rosenbaum's scholarly work on the role of third places in consumers' lives continues to receive national media coverage. On May 27, 2007, Rosenbaum was interviewed on his research and quoted in a story by the Washington Times. On March 21, 2007, Rosenbaum's research findings were discussed in separate stories carried by CNBC and the National Public Radio (NPR)-Chicago. The CNBC interview is contained in its March 21, 2007 "Small Biz Report" segment (click to view).
Rosenbaum's scholarly study, on which the media interest is based, is entitled "Exploring the Social Supportive Role of Third Places in Consumers' Lives;" the study was published in August 2006 in the Journal of Service Research (click for an abstract of the study).
Gerald Jensen, Professor in the Finance Department, co-authored a research paper, "The Presidential Term: Is the Third Year the Charm?", which is receiving national media coverage. The research paper describes the effect of the United States President's third year on market performance, based on a review of the period 1957 to 2004. Media outlets currently carrying Jensen's co-authored research findings include: Reuters WireService, InvestmentNews, and the Chicago Sun-Times. Click here for the Chicago Sun-Times story.
Along with Northern Illinois University Finance Professor Gerald Jensen, the co-authors of the research are Robert Johnson, Managing Director at the CFA Institute, and Scott Beyer, University of Wisconsin-Oshkosh Assistant Finance Professor. Their research paper will be published in the Journal of Portfolio Management .
NIU's College of Business was featured on Public Broadcasting Service's (PBS) April 6, 2007 broadcast of "Nightly Business Report," a weekly-televised program. For the program, PBS filmed footage within Barsema Hall and interviewed Jim Young, Accountancy Chair, and NIU College of Business students, seeking their comments on how the Sarbane-Oxley legislation may have impacted the appeal of pursuing a degree, and a subsequent career, in accounting. NIU's business college was extensively featured in the story segment "Sarbanes-Oxley 5 Years Later." Televised out of more than 250 PBS media outlets, "Nightly Business Report" has a national audience of 2.6 million unduplicated viewers weekly.
Click here for the PBS "Nightly Business Report" online.
Northern Illinois University's College of Business ranked 65th nationally out of 93 business schools, according to BusinessWeek's 2007 online ranking of best undergraduate business programs in the country. Of the 540 AACSB-accredited business colleges worldwide, 125 - NIU among them - were invited to participate in the BusinessWeek ranking survey. Based upon the publication's ranking criteria -- which include meeting the threshold for student response rate - NIU's College of Business was ranked 65th on BusinessWeek's final list of the 93 programs designated as The Best Undergrad B-Schools. NIU's ranking puts the college in the company of nationally-known schools such as the University of Iowa, Arizona State, SUNY, Purdue, Virginia Polytechnic Institute, which were ranked within 7 places (above or below) of NIU. Click to view PDF.
Click here to visit the BusinessWeek Web site. Choose "B-Schools" from the links across the top of the Web page and then choose "2007 Rankings" from the left navigation choices to locate this article. Northern Illinois University is listed under the "Midwest" category.
Click here to view the NIU feature story on this news item.
Click to view student responses to this news item.
Northern Illinois University (NIU) was regarded as a gem in the NPR-New York seven-part series The College Admissions Game. NIU was favorably mentioned toward the conclusion of the series' first program.
The first program in the series is entitled Some Top Students Look for Hidden-Gem Colleges and discusses the rankings game and best colleges. Toward the end of the eight-minute broadcast, NPR-NY Reporter Margot Adler relayed comment made by Leon Botstein, President of Bard College (NY):
Professor LEON BOTSTEIN (President, Bard College): "...What really makes a difference is what you accomplish in college. There is no doubt that college is the beginning building block of an adult life. You have a chance to really make something of yourself. And you can do that at a state university campus, you know, not well-known, small or medium sized, private institution.
ADLER: "Botstein says American colleges and universities are among the best in the world, both the coveted diamonds and the hidden gems. But he argues you may be better off being the top student at Northern Illinois University than at the bottom of your class at Harvard..."
[Click here to listen to the NPR-New York broadcast.]
-- written by NIU Finance professor Dr. Gerald Jensen, University of Wisconsin Oshkosh professor Dr. Scott Beyer, and CFA Institute Managing Director Robert Johnson -- is the title of a paper that explores whether or not return on investments fair better during periods of political gridlock. Popular assumption suggests that political gridlock maintains the status quo, thereby providing investors with certainty and, one would expect, higher returns on their investments. Published in The Financial Analysts Journal (Sept/Oct 2006), the paper -- "Gridlock's Gone, Now What?" -- is a result of a study conducted by Jensen, Beyer, and Johnson who examined the monthly inflation-adjusted returns of 10 stock indexes over the period 1949 through 2004. Their findings indicate that stocks performed as laggards during the 402 months of gridlock that occurred within the 56 year period 1949 through 2004; during those months of gridlock, stocks averaged gains of 6 percent a year. Conversely, during the 270 months of governmental "harmony" that occurred within the period 1949 through 2004, stocks averaged gains of 22 percent a year. Findings made in the financial analysts' research paper resulted in media coverage in several major media outlets, including:
-- September 20, 2006 article: "A First Look at Next Year's Taxes - Analysis Shows How Inflation Adjustments Will Affect Your 2007 Bill."
The article reviews findings made by tax analysts, including NIU Accountancy Department Chair Jim Young, Crowe Chizek Professor of Accounting. By law, the Internal Revenue Service (IRS) is required each year to adjust its income-tax tables as well as dozens of other numbers in order to take into account cost of living increases. The IRS will release the new information later this year. In the meantime, Young and the other two tax analysts -- Mr. Jones of CCH and William Massey, at Thomson Tax & Accounting -- crunched the numbers and predict taxpayers will receive, in general, more inflation-adjusted relief for year 2007 than they will for 2006.
The September 14, 2006 edition of the Chicago Tribune, under "Local Attractions," ran a paragraph mentioning NFL Hall of Fame Defensive Back Ronnie Lott's guest speaker appearance in the NIU College of Business. During his 14-year football career, Ronnie Lott was named All-Pro eight times, All-NFC six times, All-AFC once, and was also named to the NFL's 75th Anniversary Team. Mr. Lott's speaking engagement on what it takes to be a successful leader was sponsored by the Entrepreneurship and Innovation Class. The Entrepreneurship and Innovation Class is team-taught by Dennis Barsema and Richard Boulger, and is offered out of the college's Management Department.
The August 12, 2006 edition of the Chicago Tribune carried the article which included quotes from Marketing Professor Mark Rosenbaum as he discussed his research study on the relationship between "hangouts" and consumption. Dr. Rosenbaum's study - "Exploring the Social Supportive Role of Third Places in Consumers' Lives" - was published in August 2006 in the Journal of Service Research (click for an abstract of the study).
NIU's College of Business has made the "America's Best Colleges and Programs 2006", as recently published by U.S. News & World Report. The college, as a whole, ranked 116 out of the 404 accredited undergraduate business programs reviewed by U.S. News. This ranking places NIU's College of Business among the top 29% best undergraduate business programs in the nation. For the second year in a row, the college's Department of Accountancy was recognized in the 2005 issue of U.S. News & World Report as one of the 25th best accounting programs in the nation.
-- a paper discussing Federal Reserve monetary policy -- has been covered in media outlets including Forbes, Pittsburgh Post-Gazette (November 15, 2004), Chicago Tribune, Chicago Sun-Times, among others. The paper's authors utilized 38 years of data and examined the relationship between monetary policy and stock market returns by evaluating both cross-sectional and time-series classifications. The paper is authored by NIU Finance Professor Dr. Gerald Jensen, CFA Institute Senior Vice President Robert Johnson, University of Richmond Finance professor Dr. Mitch Conover and, Texas Tech University Finance professor Dr. Jeff Mercer.
-- written by Finance professors Dr. Gerald Jensen, Dr. Scott Beyer, and CFA Institute Senior Vice President Robert Johnson -- is the title of a paper that discusses the impact of political cycles and the stock market. The paper -- originally picked up by the Associated Press in the summer of 2004 -- has seen renewed coverage in several major media outlets, including: