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Management Scholars Develop “Innovation Index”

Innovative economic activity in Michigan increased 2.8 percent from the middle of 2006 to the middle of 2007, according to a new “Innovation Index” developed by researchers at the University of Michigan-Dearborn School of Management. The index—a product of iLabs, the school’s Center for Innovation research—tracks ups and downs in Michigan’s economic innovation based on such measures as the employment of “innovation workers,” venture capital trends, trademark registrations, incorporation activity, and small business loans. Researchers plan to release the index quarterly as a tool for economic policy makers.

Researchers Correlate Stock Prices to Likeability of Super Bowl Ads

When TV viewers like a company's Super Bowl commercial, the company's stock price goes up, according to a study by researchers at both the University at Buffalo (UB) School of Management and Cornell University. The study examined 529 commercials that aired during 17 Super Bowls from 1989-2005, and found that investors favored stocks offered by firms that aired likeable Super Bowl commercials. The researchers used ratings gathered by the USA Today Ad Meter, a real-time consumer likeability ranking of Super Bowl commercials. They found that firms with the most likeable commercials had higher than normal stock purchases on the days following the Super Bowl, which increased the firms' stock price. The stock price at firms with the least-liked commercials also increased, but not as much as it did at firms having the most-liked commercials.

"This reaction is irrational because the stock returns were based solely on likeability of the commercials," says researcher Kenneth A. Kim, associate professor of finance in the UB School of Management. "If the likeability of the commercials caused a subsequent increase in company sales, a stock increase would make sense, but we did not find this to be the case."

Harvard Course Uses Literature to Teach Moral Leadership

You don’t usually hear Albert Camus’s name in business school. It comes up with some frequency at Harvard Business School (HBS), however, where the French philosopher’s works—along with those of writer Barbara Kingsolver and playwright David Mamet, among others—provide insights that help second-year MBA students learn both decision making and what it means to be a moral leader. The curriculum is part of the elective course, The Moral Leader, taught by senior lecturer Sandra Sucher. The course was first introduced to HBS in the late 1980s by Harvard psychiatrist and educator Robert Coles.

Sucher recently published The Moral Leader: Challenges, Tools, and Insights, a textbook designed to make the course accessible to executives, students, teachers, and even book club participants. The book encourages students and managers to confront fundamental moral challenges, develop skills in moral analysis and judgment, and come to terms with their own definition of moral leadership and how it can be translated into action.

From the Fundraising Desk

At the Stern School of Business at New York University, trustee Ira Leon Rennert has committed $3.5 million to support the school’s well-known Business Plan Competition and create a new faculty chair in entrepreneurship. Separately, Beny Alagem and the Alagem Family gave $3 million to support the entrepreneurship programming at the school. | Hélène Rey, a professor of economics at London Business School, has received €1.34 million from the European Research Council for research on countries’ external balance sheets, and on the dynamics of international adjustment and capital flows. The award is the largest individual research grant ever received by a London Business School faculty member. | A $1million gift from namesake Masatoshi Ito to the Peter F. Drucker and Masatoshi Ito Graduate School of Management at Claremont Graduate University has created a new fellowship program to encourage talented and exceptional women to enter careers in management and leadership. | At the University of California-Berkeley, Haas School of Business alumnus Al Johnson has donated $1 million to support the school’s new student-invested socially responsible investment fund. | The BB&T Charitable Foundation has contributed $1 million to establish a center for the advancement of American capitalism at the Lewis College of Business at Marshall University. | An anonymous donor has given $50 million to the Opus College of Business at the University of St. Thomas. The gift, one of the three largest gifts to higher education in Minnesota history, will be applied to the school’s endowment. | Robert and Mary Kay Taylor have donated $8.5 million to the Farmer School of Business at Miami University toward construction of a 500-plus-seat auditorium that can be configured to accommodate the size needs of each group. | With a SG$3 million endowed gift from Ho Bee Investment Ltd., the Singapore Management University has established the Ho Bee Professorship in Chinese Economy and Business, designed for distinguished visiting faculty to advance education and research in the area of Chinese entrepreneurship and businesses within the larger context of the Chinese economy. | Everett and Jeanetta Dobson donated $1 million to fund four endowed chairs at the Southwestern Oklahoma State University School of Business. The gift, the school’s largest-ever monetary gift, was matched with funds from trustees of the school’s foundation and the Oklahoma State Regents Endowed Chair program, ultimately pushing its total value to $4.2 million.

New Programs

The University of Chicago Graduate School of Business has announced plans to expand its marketing program by creating more marketing courses and a broader outreach to the general business community. The department will offer its full curriculum, leading to a master of science degree in financial mathematics. Under the program, faculty members from Chicago will travel regularly to Singapore to conduct lectures and meet with students. Interactive televised lectures will also enable students in Singapore to see, hear, and participate along with their counterparts in Chicago. | The National University of Singapore (NUS) Business School and Lee Kuan Yew School of Public Policy have together launched new double-degree programs that will enable students to pursue an MBA along with a master’s in public policy or public administration. | Banco Santander, the world's seventh largest bank by profit, and Babson College are partnering to support academic programs throughout South America in entrepreneurship and global management. The partnership is part of Santander's ongoing effort to support, through its Santander Universities Global Division, academic projects developed by more than 600 universities around the world. As part of the collaboration, Babson College will train faculty and students from South American universities in entrepreneurship and global management, and Babson students will intern with Santander in the United States, Spain, or South America. | Dickinson College has announced an agreement with Baruch College and its Zicklin School of Business to provide the coursework and academic internships for its New York Program, a collaboration that offers students a comprehensive opportunity to study international finance and business, organizational behavior, and marketing in the Big Apple. The school of law and the graduate school of management at Hamline University have combined two programs to offer a JD/MBA for students interested in earning both a law degree and a master's in business administration. The program will emphasize ethics, global awareness, strategic change, conflict management, critical thinking, collaborative problem solving, and effective communication. | Beginning this summer, the University of Arkansas at Little Rock plans to offer courses for two new master’s degree programs—one in accounting and one in taxation. The taxation program is unique in the state. | Walsh University in North Canton, Ohio, has announced that this fall the school’s division of business, economics, and communication will become a comprehensive school of business. The move is not only seen as a natural progression for the university’s growing business division.  It will also provide new opportunities to further expand the university’s commitment to service learning through increased partnerships with the local business community. | As part of a structural realignment, the University of Wisconsin-Stout has created a college of management along with three other new colleges.

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