Tuesday, November 4, 2014

COBI faculty have paper accepted by prestigious Journal

The prestigious Journal of Accounting and Economics has accepted an article for publication which was authored by three UT College of Business and Innovation faculty members.

“Does return dispersion explain the accrual and investment anomalies?" written by Dr. Anthony Holder, Accounting Department, and Dr. Doina Chichernea and Dr. Alex Petkevich, both of the Finance Department,  is now available online and will soon be featured in the printed version of the publication.

"This is great news from our accounting and finance departments," noted COBI Dean Gary Insch.  "The Journal of Accounting and Economics is a top accounting journal, and Drs. Holder, Chichernea Petkevich are to be congratulated on this great accomplishment."

"This is our first time publishing in this level of journal," Dr. Holder said.  "The Journal of Accounting and Economics is the consensus top accounting journal, considered an ‘A' journal by every school in the United States. Statistics actually show that in accounting, the mean, median and mode number of publications for this level of journal during one’s academic career is zero, so you can imagine how much this means for us. We worked really hard on this paper for about three years, and being published in this leading journal is affirmation that hard work and perseverance pay off."

"Furthermore," Dr. Holder said, "with all three of us being from UT, this publication really helps UT’s reputation and UT’s ability to move up in the accounting rankings in terms of research."

"Our paper is focused on the relation between accruals (an accounting variable that captures the difference between earnings and cash flows) and stock returns," Dr. Holder said.  "Previous research has shown that firms with low accruals exhibit higher returns, and that trading based on accruals can provide significant profits. The most accepted explanation for this trading strategy is behavioral in nature; i.e., investors fixate on earnings and therefore do not understand the difference between cash-flows and earnings. In contrast, we show that accruals are related to the investment risk faced by the firms and that this risk varies through time with macroeconomic conditions. Our results therefore rationally explain not only why this trading strategy is profitable, but also why its profitability varies through time."

COBI alumnus recognized as emerging leader

Marcus Sneed, associate director for The University of Toledo's Office of Alumni Relations, received the Emerging Leader Award from the African American Legacy Project in October.

The Emerging Leader Award was established in 2008 by the African American Legacy Project, a nonprofit organization that documents and preserves the history of northwest Ohio's community and its impact and influence beyond the state's borders.

Sneed received his bachelor's degree in organizational development and management from the UT College of Business and Innovation in 2007, then joined the UT Alumni Relations staff as an outreach coordinator. He then became assistant director of alumni relations and recently has been promoted to associate director of alumni relations.

During his career at UT he has helped secure scholarships for African-American students and continues to be a voice and advocate for African-American alumni. He is dedicated to promoting higher education and serves as a mentor and confidant to many African-American males on campus.

Additionally, he has devoted many hours to the Black Alumni Affiliate, the UT college chapter of the National Association for the Advancement of Colored People, and local nonprofits.

Sneed is also working on his master of business administration degree with a focus on organizational leadership at UT COBI.

Kathleen Hanley named 2014 Outstanding COBI Alumna

Kathleen Hanley, chief integration and development officer, ProMedica, was named the 2014 Outstanding Alumna of the UT College of Business and Innovation.

Ms. Hanley received a Bachelor of Business Administration in accounting in 1978 and Master of Business Administration in 1984 from UT COBI.

Ms. Hanley is responsible for integration of mergers, acquisitions, venture capital, and various development activities.  She also serves as President of ProMedica Indemnity Corporation, responsible for captive, insurance, and risk management functions.

Prior to her current role, Ms. Hanley served 18 years as chief financial officer of ProMedica.

She is a Certified Public Accountant, a member of Financial Executives International, a member of The University of Toledo Business Engagement and Leadership Council, The University of Toledo Foundation Board, The University of Toledo Foundation Committee on Trustees, and The University of Toledo Foundation Executive Committee. She is also chair of the Notre Dame Academy Board of Trustees and Chair of the Notre Dame Academy Executive Committee.

Happiness as the New ROI: The New Corporate Manifesto

The University of Toledo Center for Family and Privately-Held Business will present an interview session with Shawn Riegsecker, CEO and Founder of Centro on Tuesday, November 18 at 5:30 p.m. in The Toledo Club.

Shawn Riegsecker will be interviewed about how his leadership, commitment to innovation and modernized approach to culture and employee happiness have led Centro to receive many accolades, including Crain’s naming it the best place to work in Chicago four years in a row. The interview will be conducted by Mike Hart, President of Hart Associates.

The event is free and open to the public, but space is limited and registration is necessary.  Click here to register!

Record 133 companies recruited UT business students at fall job fair

Approximately 400 students in The University of Toledo College of Business and Innovation (COBI) participated in the college’s annual autumn job fair on Friday, September 26. A record 133 companies - - including Coca-Cola, the Cleveland Indians, Quicken Loans, Owens-Corning, O-I and 3M - - participated.

“We are truly excited and pleased for our students by the fact that so many well-known companies came to UT COBI to find the talent they need," noted Terribeth Gordon-Moore, COBI Senior Associate Dean. "This reflects very positively on the quality of both our programs and our students. It also demonstrates the extremely dynamic and mutually beneficial relationship enjoyed by COBI and recruiters for major national companies such as Marathon, Chrysler, Goodyear, Enterprise and Ernst & Young.”

“Employers are looking for undergraduate students to participate in business internships and their leadership development programs, as well as for seniors and graduates seeking full-time employment,” she added. “Furthermore, we strongly encouraged our freshmen students to attend the job fair, engage these company representatives and begin a relationship with these employers now.”

“This semi-annual job fair is part of what we do to prepare our students for their futures,” Gordon-Moore explained, adding that the college’s Business Career Programs office works year-round to assist students in acquiring internships and jobs upon graduation.  “We strive to provide the necessary resources so our students can conduct their own tailored job searches.”

More than 85% of COBI students participate in internships, and the job placement rate for COBI graduates is greater than 80%, even in recent economic times.

UT's quarterback takes care of business on and off the football field

UT sophomore Logan Woodside has shown his winning ways as starting quarterback for this year's Toledo Rockets football team, a position he assumed following a season-ending injury to quarterback Phillip Ely. But Woodside was ready for the challenge, utilizing the skills he has developed since he started playing football since he was six years old.

"I've played in the quarterback position since the third grade, and now I am playing at my highest level of football yet. It's a challenge."

"I was recruited by UT, and was impressed by Coach Campbell. We all competed for the quarterback position, and I just kept working at it."

Working at things is something Woodside does well, including his studies in the UT College of Business and Innovation.

Logan had a 4.0 grade point average when he graduated from high school in his home town of Frankfort, Kentucky, and now has a 3.5 GPA at UT.

"I was going to go into physical therapy, but my roommate was a business major," Logan said.  "I learned there is a lot you can do with business. I like talking to people, and I like studying marketing and sales. We have a very unique program in the sales school (Edward H. Schmidt School of Professional Sales) here in COBI."

"People would be surprised to know that I am a super non-procrastinator.  If I get an assignment, I try to do it right away and get it done as soon as possible."

"I study a lot for football, but school is always first."

Logan admits that, "Ideally I would like to play in the NFL, but the NFL stands for 'Not For Long,' so I need to be prepared for a career, maybe pharmaceutical sales. I would like to move back close to home in Kentucky, and be surrounded by my big family."

Logan has connected with former UT quarterback and COBI alum Bruce Gradkowski, who often sends texts to Logan after UT's games.

The Rockets have been picked to win at least the MAC West Division this year, and Woodside's competitive nature may help them get there.

"I like the competition and leadership aspects of football, and making lifetime friends," he said.  "I'm competing and getting my college education at the same time."

Friday, October 3, 2014

New Alan Barry Accounting Lab named in honor of UT business grad whose generous gift made it possible

When The University of Toledo College of Business and Innovation (COBI) dedicated the new Alan Barry Accounting Lab on September 23, it recognized and honored the alum whose gift made it reality.

Alan H. Barry, a 1966 graduate of the College, made the generous leadership donation to establish a unique accounting lab to help students who love accounting as much as he did.  

"As an accounting grad, it's always nice to look for ways to help students who are like I was," Mr. Barry said. "This Lab is something that will be used by many students, and because I was already involved with the College of Business, it just made sense to support it."

“The University of Toledo is so fortunate to have generous alumni like Alan Barry who achieve great success and then give back to ensure our students today have access to the very best tools and help them succeed,” said Interim President Nagi Naganathan. "The Alan Barry Accounting Lab will be integral to students’ education and their success for years to come and help us showcase Alan’s contribution.”

"The Alan Barry Accounting Lab is one of the things that we can do for business students that is not done elsewhere," COBI Dean Gary Insch said. "We are a business school, and we have business professionals who can help us. Furthermore, the establishment of the Lab again demonstrates the College's continuing vibrant relationship with the regional business community."

Recalling his time in the UT business college, Mr. Barry said, "I was born and raised in Toledo, and worked my way through school. Accounting was my course of study and my first love, and I have remained close to the accounting department and made many friends there."

"I was talking with Dr. (Hassan) HassabElnaby (Chair of the Accounting Department in the UT College of Business and Innovation) at a student scholarship event and he was saying he would like a leadership lab for accounting students. I have always been interested with the leadership aspect and was involved with the Ernst & Young Leadership Lab in the Savage & Associates Business Complex. The need for the Accounting Lab was explained, it hit close to home, and I said, 'Let's do it.'"

Mr. Barry was the former president and chief operating officer of Masco Corporation, retiring in 2008 after more than 35 years with the company.

Mr. Barry and his wife Karen have also made generous gifts in recent years to the Alan and Karen Barry Scholarship Fund which provides support for full-time UT business accounting students, based on both merit and needs. He is also active in the UT Alumni Association, was a Blue Key Member, and currently serves on the UT Foundation Board of Trustees.

Furthermore, through Mr. Barry's support, the COBI's accounting department will start the Alan Barry Workshop Series this fall. These workshops are free for accounting students and provide them with additional skills needed for the job market and the information age.

"The purpose of the new Alan Barry Accounting Lab is to enhance the accounting students' learning experience and also to provide a wide array of services to both accounting students and area residents," noted Dr. HassabElnaby.

"For students, the Lab will provide one-on-one tutoring services, assistance with writing projects, and the most advanced accounting simulation software to help students improve their understanding of important accounting concepts," he explained. "It will hold the review material for the very important and demanding certified public accountant (CPA) exam, and it will be a resource for COBI accounting professional organizations, such as Beta Alpha Psi."

This Lab will also be the first lab nationwide to have a certified management accountant (CMA) lab license, where students can have free access to the CMA review material from Wiley to prepare for the CMA exam.

"For the community, the Lab will serve as the location of the free income tax preparation assistance COBI provides each year to qualified low-to-moderate income individuals and families in the Toledo area during the spring income tax filing season," Dr. HassabElnaby said.

Although COBI had an accounting lab, the room was small and only had equipment to provide tutoring services for sophomore accounting students.

The new Lab has six computers and a printer, as well as licensed software such as QuickBooks Pro 2014, GoVenture accounting simulation software, WhiteSmoke premium writing software, Yaeger CPA review program, and more.

The Alan Barry Accounting Lab is located in Room 2130 in the College's new Savage & Associates Business Complex.  The dedication will be held on Tuesday at 1 p.m.  The Lab is open to students Monday through Friday, 11 a.m. to 7 p.m., and Saturdays from noon to 4 p.m.