December 8, 2009

College of Business' New Instructional Facilty is Platinum

The new Business Instructional Facility at the COB has been certified as platinum for environmental standards.

This afternoon, Dean Larry DeBrock announced this exciting news to the College via e-mail:

It gives me great pleasure to inform you that the U.S. Green Building Council has made its decision on the LEED rating for BIF. We earned their highest rating - Platinum!

This recognition of our commitment to sustainability and the environment puts us in a very exclusive class. We are the first college of business at any public university to receive a platinum rating. BIF is among only a dozen platinum certified projects at any university in the world, and is the first at any university or college in Illinois, where only 14 other buildings have been certified platinum.

Indeed, this is a great achievement. BEL salutes the forward thinking of the College on energy conservation and environmental sustainability for the 21st century, especially as BIF is also a very aesthetically pleasing building.

To read more, go here.

Posted by Becky at 5:31 PM

August 20, 2009

College of Business Continues to Fare Well in Undergraduate Rankings

Today US News & World Report released its rankings of the Best Undergraduate Business Programs. Illinois College of Business continues to hold steady in being in the top 20 in many areas, and in the top 10 in 4 areas:

Accountancy
Insurance
Management
Real Estate

Overall, the College is ranked number 13.

The University is ranked number 9 amongst public institutions.

Hats off for the Illini!

Posted by Becky at 2:46 PM

April 8, 2009

BEL Salutes Larry DeBrock, the New Dean of the College of Business

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From the College of Business website:

CHAMPAIGN, Ill. — Lawrence DeBrock, a noted economist and longtime University of Illinois professor and administrator, has been named dean of the university’s College of Business, pending approval by the U. of I. Board of Trustees at its May 21 meeting in Chicago.

DeBrock has served as interim dean of the nationally ranked business school since 2008, when former dean Avijit Ghosh was named vice president for technology and economic development.

Chancellor Richard Herman was quoted about Dean DeBrock:

“In his role as interim dean he has shown an ability to provide vision and get people to follow him. He is an individual of considerable accomplishment and speaks passionately about the college – its faculty, staff and students and has great support from them. We are delighted to send his name to our board.”

DeBrock's appointment would be the ninth dean in 95 years for the college, which is also rated in the Top Twenty in terms of scholarly output and impact. The College is also rated in the top 15 in undergraduate programs and in the top 40 of graduate school programs.

DeBrock says his three decades at the U. of I. will be an advantage in building on recent successes such as faculty hiring, building programs, expanding student facilities and improving external relations.

Larry is a dedicated educator as well as an excellent scholar. He uses BEL over the campus network frequently. BEL salutes Dean DeBrock for this distinguished position as he has a great love for the University, has the trust of his colleagues, and the students feel they can come to him for advice. He's also one of the Chicago Cubs' enthusiastic fans.

Posted by Becky at 11:37 AM

February 20, 2009

College of Business Maintains Top 25 Scholarship Ranking

The University of Texas at Dallas has a ranked list of business schools' scholarship based on 24 top tier journals. Last week, the list was updated, and while the Wharton School retained its number one ranking, Illinois' College of Business was steady at number 20 for the North American schools. Worldwide, Illinois is number 22.

Our business faculty work hard to keep up their research. Hats off to our scholars!

Here's the list:

The UTD Top 100 North American Rankings of Business Schools Based on Research Contribution 1990-2008
- The rankings are based on the journals selected
- All articles are written by at least one business school author.

Rank University
1 University of Pennsylvania (The Wharton School)
2 New York University (Leonard N. Stern School of Business)
3 University of Michigan at Ann Arbor (Ross School of Business)
4 Columbia University (Graduate School of Business)
5 Harvard University (Harvard Business School)
6 University of Chicago (Graduate School of Business)
7 Massachusetts Institute of Technology (Sloan School of Management)
8 University of Texas at Austin (McCombs School of Business)
9 Stanford University (Graduate School of Business)
10 Duke University (The Fuqua School of Business)
11 University of California at Los Angeles (Anderson School of Management)
12 Northwestern University (Kellogg School of Management)
13 University of Southern California (Marshall School of Business)
14 University of Minnesota at Twin Cities (Carlson School of Management)
15 Pennsylvania State University at University Park (Smeal College of Business)
16 University of Maryland at College Park (Robert H. Smith School of Business)
17 University of Washington at Seattle (Business School)
18 University of North Carolina at Chapel Hill (Kenan-Flagler Business School)
19 Carnegie Mellon University (Tepper School of Business)
20 University of Illinois at Urbana-Champaign (College of Business)

Posted by Becky at 10:29 AM

September 2, 2008

BEL Salutes Glenn Graham

glenngraham.jpg

(pic courtesy of Trader Daily)

Glenn Graham was named one of Trader Daily's "Top 30 Under 30", meaning the top young traders under the age of 30. Glenn last attended classes in finance and accounting from the College of Business in 2006, and he was a student assistant in BEL. He once said that BEL was one of the best jobs in his life because we had so many databases and publications he could peruse for his career search and projects he had to do for classes.

Indeed, he used Investment Dealer's Digest and Futures magazine to do an independent job search for a summer internship, and landed a spot at Allston Investment in Chicago. He performed so well that he was offered a permanent position at the end of his internship.

Now, Glenn works for Dubai-based Casa Trading as director of its energy trading. One of his peers said this about Glenn:

"His trading prowess is unprecedented for someone his age," says one crude-oil broker. "He's a brilliant trader and a tremendous risk taker, but at the same time he knows how to calculate risk well."

Glenn is only 23 years old.

BEL salutes Glenn Graham and continues to wish him well in his endeavors.

Link to article (registration req'd, but free to anyone)

(h/t to Ashley Graham, his sibling, who also works in BEL as a student assistant)

Posted by Becky at 11:11 AM

August 25, 2008

College of Business Opens New Instructional Facility

bif-2008-08-25-4.jpg

Today the College of Business opened their new Business Instructional Facility for classes. The building is not completely finished, but classes have started in there. It is the first "green" building on campus. The building is fondly called "BIF".

Dean Larry DeBrock had a special welcome for faculty and staff to get a look around the building. BELlog was told the ceiling was made of teak as it was conducive for indoor and outdoor use.

Here's a link to the FAQs about the building.

The official opening celebration will be held in mid-October. Stay tuned.

Posted by Becky at 2:23 PM

August 22, 2008

BEL Salutes the College of Business

US News & World Report just released its 2008 rankings of undergraduate programs. Illinois' College of Business was ranked in the top 10 in the following areas:

Accounting
Finance
Insurance
Real Estate

Hats off to the College of Business!

Posted by Becky at 12:55 PM

August 28, 2007

BEL Appreciates Caterpillar

Cat_logo.gif

Caterpillar is one of the top industrial companies in the United States and happens to be located in Central Illinois.

Fitch Rating Service had this to say recently about Caterpillar, which rated the company an A+:

CAT is the world's leading manufacturer in construction and mining equipment, diesel and natural gas engines and industrial gas turbines. Other major businesses include Remanufacturing Services, Logistics, and Progress Rail. Through its financial products subsidiary, CAT provides retail-financing to its customers and dealers for the purchase and lease of CAT and non-competitive products. In the first half of 2007, 54% of CAT's consolidated sales were outside the U.S.


The ratings reflect CAT's consistently strong cash flow generation, competitive products, diversified customer base, global manufacturing footprint and strong international dealer network. The ratings are also supported by CAT's substantial financial flexibility, solid credit metrics and the strength and stability of CAT Financial, all of which give CAT the ability to absorb economic and product cycles.

(information taken from Mergent Online)

We appreciate Caterpillar for their partnership with the College of Business and in making it possible to have Bloomberg in our library. Bloomberg is used throughout the core curriculum in the Finance Department.

Posted by Becky at 12:18 PM

November 2, 2006

BEL Salutes: Ricardo Flores

bellog discovered today that Ricardo Flores, a doctoral student in Business Adminstration at UIUC, received Best Interactive Paper Award at the 2006 Academy of Management Meeting, Organizational Change and Development Division, in Atlanta this past August.

The full citation is as follows: Flores, R., (2006). Technological Discontinuities and Organizational Adaptation: Exploring the role of Organizational Identity. In K.Mark Weaver (Ed.), Proceedings of the Sixty-fifth Annual Meeting of the Academy of Management (CD), ISSN 1543-8643

Congratulations to Ricardo, who is seen in BEL quite often doing a ton of research for himself and some of his professors. He is our first doctoral student to make the BEL Salutes section. Below is a picture of Ricardo (on the right) receiving a plaque at Academy of Management Conference.


Ricardo%20AOM%20Award%202006.JPG

Posted by Becky at 12:31 PM

September 16, 2006

Does the Death of Politicially Tied Board Member Impact a Company's Stock Price?

Yesterday at UIUC's College of Business, Vanderbilt Professor Mara Faccio gave a presentation entitled, "Sudden Deaths: Taking Stock of Political Connections", sponsored by the newly formed interdisciplinary group, U2IPERG (University of Ilinois International Political Economy Group) and CIBER, to a full house on sunny Friday afternoon.

Based on the growing literature that points out avenues in which politically connected individuals can benefit companies, Professor Faccio, with co-author Professor David Paisley studied 206 companies world wide who they could they identify as having corporate board members with political ties from 1973-2004. This quest was to answer the following, according to her Powerpoint presentation (submitted to BEL by Professor Paul Vaaler of the BA department):

* How valuable are corporate political ties? * Do geographic ties matter? Or do only personal and family ties count? Does the value of political connections depend on the strength of the relationship? *Do connections simply result in transfers of resources among different agents?

Examples:

Florida Governor Lawton Chiles was an “original investor in Red Lobster restaurants.”

Baroness Brigstocke (of the UK House of Lords) was connected to Westminster Health Care Holdings Plc, since her husband Lord Griffiths was chairman of that company.

French Senator Claude Cornac was labeled as connected to Renault and Gas de France because of prior directorships.

Pamela Harriman, a Democrat, was a British aristocrat who was "very familiar" with many men in political circles, including Averell Harriman, diplomat and millionaire spouse.

Professor Faccio concluded the following from looking at press releases via Factiva and stock prices via Datastream and Worldscope (directly borrowed from her presentation):

Political ties, identified from the (common) location of a company’s headquarters and the city of the deceased politician, are particularly valuable for shareholders..

--Average price drop of -1.93% around the death of the politician for a sample of 7,080 companies
--Comparisons with previous studies suggest the value of political connections has previously been underestimated
--The price drop is even larger for those companies that are more likely to have stronger political links

Afterward, Professor Faccio met with some students who are interested in international political economy and strategy. Picture is below

IMG_1802.jpg

Photo Credit: Natayla Shipachova, UIUC Doctoral Student.

There will be more monthly U2IREG seminars this fall. Stay tuned.

Posted by Becky at 2:31 PM

September 14, 2006

BEL Salutes: Professor Theodore Sougiannis

UIUC College of Business just announced today in an e-mail issued by Dean Ghosh:

Professor Theodore Sougiannis has been appointed KPMG Distinguished Professor of Accountancy. By conferring the KPMG Professorship on Professor Sougiannis, the College recognizes and celebrates his many contributions in the field of Accountancy and to his department and the College.

Professor Sougiannis, or “Theo” as he is fondly known, joined the College in 1990, after receiving his Ph.D. from the University of California at Berkeley. Earlier he graduated from the University of Pireaus (Greece) and received M.B.A and M.A. degrees from York University in Canada. Theo’s research focuses on the use of accounting numbers in stock market valuations, the choice of financial accounting rules, and accounting regulation. His research papers in these areas—often at the interface of accounting and finance—have had significant impacts on the literature and the understanding of accounting phenomena.

Social Science Research Network has ranked Professor Sougiannis's co-authored paper, "A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation" as number 5 in number of downloads. To see the abstract of that paper, click here.

BEL congratulates Professor Sougiannis in his accomplishments, and he is our first UIUC Accountancy Professor be to saluted!

Posted by Becky at 11:03 AM

August 3, 2006

UIUC MBA Program's New Web Site

The MBA program here at UIUC has a slick looking new site. Check it out here!

Posted by Becky at 12:35 PM

May 12, 2006

UIUC College of Business Makes SSRN's Top B-School Research Rankings

From SSRN:

Social Science Research Network is pleased to announce a new service: Top Business Schools Rankings based on downloads from SSRN's eLibrary. This list will be updated at the beginning of each month and joins the Top Law School Rankings, announced last year.

The Top Business School Rankings includes U.S. Business School and International Business School Rankings along with an aggregate Ranking of over 800 Business Schools from around the world.

LINK to Rankings

UIUC is number 20!


Posted by Becky at 3:31 PM

May 5, 2006

College of Business Celebrates Groundbreaking Ceremony

On Friday April 28, 2006, The College of Business at the University of Illinois in Urbana-Champaign broke ground on its new Business Instructional Facility, which is scheduled to be completed in the fall of 2008.

Provided below are highlights from the day's events, which included a panel discussion, groundbreaking ceremony and reception.

LINK to rest of News Release from the College of Business.

Posted by Becky at 9:48 AM

May 1, 2006

BEL Salutes Professor Neil Pearson

Today Professor Neil D. Pearson was given the Harry A. Brandt Distinguished Professor in Financial Markets and Options chair. To borrow language from Dean Avijit Ghosh's e-mail announcement,

" Professor Pearson, who joined the College in the Department of Finance in August 1995 as an assistant professor, is one of the country’s leading academic experts in the field of financial economics, particularly the growing sub-field relating to futures and options, derivatives trading and financial risk management. His research in this area is universally regarded for its creativity, its high quality and for the impact it has had on the discipline. In recognition of his excellent scholarship, the College appointed Professor Pearson as an IBE Fellow in Finance in 2002.

The Harry A. Brandt Distinguished Professorship in Financial Markets and Options was established in 1987 by a gift from Harry A. Brandt to provide academic leadership, in the area of financial markets and options. A 1956 graduate of the College of Business, Harry Brandt served as the President of Brandt and Associates in Chicago, a firm specializing in processing transactions for options traders. The College is extremely grateful to Harry and Sharon Joyce Brandt for their support."


We join the Dean in congratulating Professor Pearson. He is one of BEL's regulars--often doing research on the Bloomberg terminal.

Posted by Becky at 1:59 PM

March 29, 2006

BEL Salutes: Professor David Ikenberry

Professor David Ikenberry is head of the Finance Department at UIUC's College of Business. Recently, UIUC News Bureau interviewed him and posted this story on their web site:

A Minute with David Ikenberry

David Ikenberry's research has focused on issues relating to stock-market returns as well as the informational efficiency of markets and the reasons why companies buy back their own stock. The growing influence of "activist stockholders" in corporate America has stirred fears that they are mostly speculators looking for quick profits at the expense of established companies. Ikenberry analyzes the background of these high-profile battles.

Read the rest here.

Professor Ikenberry is a good friend of BEL and has made it possible for our library to have Bloomberg.

Posted by Becky at 1:26 PM

March 13, 2006

BEL Clinic on Tue & Fri Mornings

BEL Clinic is now open in Wohlers 350 Hall for BA doctoral students and faculty on Tuesday and Friday mornings from 10-11:30. BEL Associate Professor Becky Smith will be giving demonstrations and training on various business-related research databases for your research as well as new reference citation tools provided through the University Library. She will also field trial databases that may be of interest to you as a researcher. Got a research project with variables in mind, but not certain about the best places to look? Here’s your opportunity to walk in and ask Becky!

Among the questions asked:

* Where can I find a list of biotech companies in the pharmaceutical area that also has university professors working them on R & D? What patents are being created? Who are the personnel involved? What alliances and mergers have taken place in this industry? Where can I find more literature on the area of technology transfer?

* Where can I find financials and segment data for companies in Emerging Markets? I cannot find all of them on Compustat North America.

..and more

Posted by Becky at 8:27 AM

November 21, 2005

Are We Losing the Global Race for Talent?

From today's WSJ:

America has seen the number of legal migrants, who tend to be more educated, fall by nearly a third over the past few years -- much more sharply than less educated illegal immigrants, according to the Pew Hispanic Research Center. Enrollment of foreign students in U.S. higher education declined for the first time since the 1950s. And when Congress failed to extend legislation that tripled the quota for highly skilled workers under the H-1B program, the number allowed in under this program has fallen as well. This ambivalence towards foreign talent risks depriving U.S. universities and businesses of the high-octane fuel that helps drive the American innovation machine.

snip

U.S. firms will increasingly have to compete against other industrial nations to attract skilled migrants. American success in attracting global talent is being emulated by other countries. Canada, Australia and the U.K. have all reformed immigration policy to better target and increase their share of skilled immigrants. Security concerns are valid; but the U.S. has made progress in reducing security-screening-related backlogs.

LINK to article
(UIUC Net ID and password req'd)

Posted by Becky at 9:06 AM

September 28, 2005

B. Joseph White Presses Campus to Aim High

Joseph White, James F. Towey Professor of Business and Leadership, was inaugurated as U of I's President on September 22 at UIUC's Krannert Center.

According to the News-Gazette:

White, 58, who has been on the job since Jan. 31, spoke about his vision for the UI. He said the university is at a "tipping point" where it could slowly decline toward mediocrity or create a brilliant future.

"A future of mediocrity for the University of Illinois is both alarming and absolutely unacceptable," White said. "Understand: I did not come here to preside over decline."

To create a future of greatness, he said, the UI needs high aspirations; money from the state, tuition, research grants and contracts, and private donors; leadership; and big ideas.

White quoted Chicago architect Daniel Burnham, who said, "Make no little plans." Some examples of big ideas for the UI, he said, are creating a virtual university as a fourth campus to fully participate in online education; becoming a leader for sustainable energy production and consumption in the state; and developing "successful intelligence" in young people to help them achieve their professional and personal goals, in addition to academics.

LINK to rest of article

LINK to President White's Address

Posted by Becky at 9:07 AM

August 23, 2005

New Instructional Facility Approved by UIUC Board

From the UIUC College of Business Website:

The College of Business Instructional Facility was approved by the University of Illinois Board of Trustees on July 14.

With this approval, the College and the campus are in the process of soliciting bids for site preparation and construction. Ground breaking is anticipated in early 2006. According to design and construction consultants, the new Business Instructional Facility will be completed in early summer of 2008, with occupancy in time for the fall 2008 semester.

"My thanks to the many alumni, corporate partners, faculty, staff and friends of the College whose generous financial support has made this wonderful project possible," said Dean Avijit Ghosh. "I offer my special thanks to two of our alums, who prefer to remain anonymous, whose leadership gifts were pivotal to our fund raising campaign."

The Dean also expressed his appreciation to College of Business faculty and staff in an email announcement about BOT approval.

"In the final analysis, it is the dedication and hard work of the faculty, staff, and students that created the excitement and support for this project. I thank you all for making this long-cherished dream a reality."

Click here to read more about the facility.

Posted by Becky at 10:51 AM