A roundup of media mentions featuring faculty and staff from the Fox School of Business and the School of Sport, Tourism and Hospitality Management.

Translational Research Center launches
The Philadelphia Business Journal covers the launch of Fox’s Translational Research Center, which hopes to bridge the gap between business-school research and applications of it in industry. PBJ speaks with Fox’s Dr. Charles Dhanaraj about the Center, as well as last week’s kick-off summit. Read more >>

NCAA-in-Japan project in next phase
For now, Japanese universities do not formally recognize their sport teams. A research project, led by STHM’s Dr. Jeremy Jordan and Dr. Daniel Funk, is exploring the possibility of creating for Japan a sport governing body equivalent to the NCAA. Japan Times provides coverage of the project, which will soon enter its third phase. Read more >>

Philly Style profiles Porat
For its charity and social datebook, Philly Style Magazine speaks to Dr. M. Moshe Porat for a profile on the Fox and STHM dean. Porat discusses the schools’ growth and their focus on student professional development. Read more >>

The Atlantic | March 1, 2018
A feature story in The Atlantic identifies a recent study by Fox’s Dr. In-Sue Oh as one of 16 that have found coworkers to be the best-equipped predictors of an individual’s workplace success. Read more >>

WHYY | March 9, 2018
A sizable portion of land in Northeast Philadelphia, which had been dormant for years, has been purchased and will be converted into a logistics hub. Fox’s Tom Fung explains, in an interview for WHYY’s NewsWorks news show, the benefits for its use in supply chain. Listen >>

Philadelphia Magazine | March 8, 2018
Last week, Philly Mag asked a litany of local leaders to pick the best places in the city to hold coffee meetings. Fox’s Ellen Weber provides her pick. Read more >>

Al Dia | March 9, 2018
Recently and historically, economic implications have led millions of immigrants to the United States. For more on this, Fox’s Dr. Ram Mudambi speaks with Al Dia—the nation’s leading Latino news organization. Read more >>

Media requests: Please send requests to Christopher A. Vito, associate director of communications & media relations, Temple University’s Fox School of Business, at cvito@temple.edu

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The Fox School of Business is making history—and driving real impact.

On Monday, March 12, the Fox School hosted a first-of-its-kind forum that brought together editors-in-chief of leading academic business journals across multiple disciplines. The 2018 Editors’ Summit united academia and industry, researchers and executives, students and educators, for a day of dialogue on a way forward to generate transformative impact of business school research.

With leadership from Charles Dhanaraj, director of the Fox School’s new Translational Research Center, over 150 people discussed the opportunities for creating impactful research and barriers standing in the way.

Fox School faculty and doctoral students were joined by editors from prestigious business journals from many disciplines, including management, marketing, accounting, finance, operations, management information systems, and international business; colleagues from Villanova University, the Wharton School, and Northwestern University, among others; and executives from the U.S. Securities and Exchange Commission, LyondellBasell, and the Association to Advance Collegiate Schools of Business (AACSB).

Here are five key takeaways from the event:

1. Define impact

What do we mean by “impact” and how do we measure it? “It has to meet the qualifications of rigor, relevance, insights, and action,” said V. Kumar, editor-in-chief of the Journal of Marketing and Regents Professor at J. Mack Robinson College of Business at Georgia State University.

While a definition of impact may remain elusive, participants identified its signs: from small shifts in how companies work and academia teaches, to societal, economic, and public policy changes.

Anne Tsui, president of the Responsible Research Leadership Forum, noted that this discussion about impact was a large step. “In the last 20 or 30 years, rigor began to dominate research and relevance began to decline,” she said. “Today, we’re here to discuss this gap.”

2. Ask the right questions

“Just because something hasn’t been studied doesn’t mean that it should,” said Tyson Browning, co-editor-in-chief of the Journal of Operations Management and professor at Texas Christian University. In order to study issues that affect business, researchers need to know the right questions to ask.

Researchers can develop relationships with businesses, through programs like Fox Management Consulting, or invest in listening platforms to identify what problems businesses face.

Bhavesh Patel, CEO of LyondellBasell, put it another way: “Think about what value your work will create from the beginning. If you do it early, it will guide the work you do.”

3. Know your audience

“In reflecting about practical impact,” said Arun Rai, editor of MIS Quarterly and professor at the J. Mack Robinson College of Business at Georgia State University, “we need to think about partnerships with complementary channels to reach audiences that we do not have core competencies to reach.”

Executives are not reading academic journals, nor should we ever expect them to. If academics want their research to have impact on the real world, they should think beyond publications and about distribution.

“In the Twitter and soundbite era, no one wants to read a 40-page paper,” said Dr. Scott Bauguess of the U.S. Securities and Exchange Commission. “They want the major takeaway.” His suggestion? Write white papers and stylized facts.

Practitioner journals, trade magazines, and popular media like newspapers and TV can also be relevant channels to getting research insights into industry. Mary Barth, senior editor of The Accounting Review and professor at Stanford University, also recommended translating research into thought pieces that are understandable to non-academics. To do that, however, researchers need a new set of skills—like marketing or social media strategies—that require training or support from the school.

4. Adjust the infrastructure

A recurring theme throughout the day was incentives. How can business schools incentivize faculty to produce research that has impact, not just publications? How can editors affect trends in what is published to promote relevance?

Participants brainstormed solutions for both. While structural changes take time, discussions centered on adjusting tenure requirements and timelines, defining impact, creating industry partnerships, hosting workshops with executives, providing funding incentives for research with practitioners and non-tenure-track faculty, and publishing special issues in journals that focus on bundled topics.

Alain Verbeke, editor-in-chief of the Journal of International Business Studies and professor at University of Calgary’s Haskayne School of Business, put it bluntly: “If you really want change, you can’t do it with the existing structure and processes.”

5. Teach the future

Students cannot be neglected in the conversation about impact. “One way we take our research articles and ideas and make them relevant to practice is by teaching them in our classes,” said Jay Barney, editor-in-chief of the Academy of Management Review and professor at the Eccles School of Business at the University of Utah.

Constance Helfat, co-editor of the Strategic Management Journal and professor at the Tuck School of Business at Dartmouth, agreed. “Every single thing I teach is based in academic research. And it works.”

The Fox School is already addressing the way forward. M. Moshe Porat, dean of the Fox School, affirmed his commitment to research and doctoral education throughout the day.

With support from the dean, the Translational Research Center has big plans for the future of research at the Fox School. The center plans to develop a white paper of the findings from the event and is hosting a case-writing consortium for faculty interested in writing and submitting a teaching case through the summer.

“The shift toward impact is a significant one, but it will take time,” said Dhanaraj,. “We will need everyone to make this big move.”

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The automobile industry in Detroit is thriving.

This seems counterintuitive considering all we know about the damaging impact the last four decades of auto industry decline had on the city. But a meaningful transformation happened and automobile firms have found new ways to flourish.

Fox School of Business professor Ram Mudambi has been researching the Detroit auto industry’s transition from a manufacturing center into an innovation hub for many years. His work was recently featured in a New York Times article, “What Happens When the Richest U.S. Cities Turn to the World?,” about how a city’s prosperousness can be determined by how globally connected it is with other cities.

This is true for Detroit’s auto industry, which has become a thriving innovation center due to its robust relationships with other global knowledge hotspots, such as Germany and Japan. However, while innovation and connectedness are thriving, Detroit, which in 2013 became the largest municipality to file for bankruptcy, as a city is not.

“Manufacturing in Detroit is still shrinking along with blue collar jobs,” explains Mudambi. “There’s a quality-quantity disconnect, as there are increasing white collar jobs, but by definition there are fewer of those. When a factory closes, we lose 5,000 blue collar jobs, and then when you open a R&D center, you only create 100 knowledge jobs. That’s been happening in Detroit for decades. In short, this is not a recipe for a healthy metropolitan area. The innovation ecosystem is very healthy, but it has not helped the city very much.”

But there is a possible solution. Mudambi says it’s all about nurturing entrepreneurship and small businesses. He cites Silicon Valley, where thousands of companies start every year, as a healthier alternative. And Seattle, he claims, is Detroit’s most edifying counterpoint.

“America’s future is in the garage,” says Mudambi. “While the auto industry in Detroit has done great innovation-wise, they haven’t done great with the city. But if you look at Seattle, Microsoft, Amazon, and Boeing have done great with innovation and with the city. Why? Because they’ve been engines for startups; they’ve put money into starting small companies. GM and Ford haven’t done this—they just look for suppliers, and haven’t thought about creating new businesses. In the last 20 years, those three Seattle companies have been involved with 66,000 startups. That’s where the jobs are. The solution is no longer in these large companies.”

The Seattle example, Mudambi suggests, specifically the unique way companies there have managed to become vanguards of global innovation while simultaneously elevating the conditions of the city itself, is one other U.S. firms and policymakers should take seriously.

“The U.S. is getting a winner-loser economy where you have winner locations and growing cities, like Silicon Valley and Seattle and Austin, and hinterland areas, like Appalachia and Flint, Michigan,” says Mudambi. “They’re falling further behind and they’re not happy about it. We can’t ignore these places, so we need to find smart ways to address these challenges. The knee-jerk reactions we’re seeing now from some people, saying America needs to cut itself off from the world, are losing solutions. The answers must be in the direction of building skills, knowledge, and more connectivity, and making more informed policy decisions. If we can fix these struggling cities, then we will be on our way to fixing the economy as a whole.”

Learn more about Fox School Research and International Business.
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Alter Hall, Home of the Fox School of BusinessLook around. They are in newspapers and social media feeds. They are online and on scrolling news tickers, too.

Almost daily, you’ll see splashy headlines announcing the latest scientific-research findings—from groundbreaking disease cures, to solutions for cell-phone addiction and possible causes of global warming.

Rarely, if ever, are real-world applications of business-school research given such a high-profile platform. Temple University’s Fox School of Business is hoping to alter that reality with the launch of a center designed to bring impact to the forefront of business-school research. Next week, the Fox School will host a workshop on March 12 to bring together industry leaders and top journal editors to start the conversation on driving real impact with scholarly research.

The Fox School’s Translational Research Center is the first of its kind nationally to attempt the alignment of business-school research produced by Fox’s award-winning faculty with critical problems of the industry and to communicate it quickly and effectively to practitioners and executives.

Why hasn’t such an endeavor been launched? There are multiple reasons, says Dr. Charles Dhanaraj, the Fox School’s H.F. “Gerry” Lenfest Professor of Strategy. Conventionally, business-school research is produced by faculty looking to earn tenure status, or as a mechanism to support the school’s reputation. Faculty often gauge the success of their research based upon the journal within which it’s published and the volume of citations it receives.

“Business schools need to go beyond academic citations; they need to create real impact on business and on policy,” said Dhanaraj, the center’s founding director. “That being said, the Fox School has more than 210 full-time faculty in a variety of research disciplines, which means we are uniquely positioned to accomplish those traditional research goals, too.”

“Everyone in academia discusses impact,” said Dr. M. Moshe Porat, the Fox School’s Dean. “How you define impact and how you measure impact takes time. We are moving in that direction. Our school has the agile, entrepreneurial faculty to take the lead in shaping the future of business school research—and not just ours, but for everyone.”

The Fox School’s Translational Research Center will focus on four dimensions of impact: academia, students, business, and society. The center enables faculty to broaden their scholarship portfolio and support them in stretching their reach.

Typically, translational research is linked to fields of medicine and science. This approach bridges multiple disciplines, as practitioners and academics work together to uncover new and innovative medicines and treatments.

Fox’s Translational Research Center will operate under a similar construct, Dhanaraj said.

“Think of it as push and pull,” Dhanaraj said. “We want to tap into the needs of industry to pull in their problems to drive our faculty research, and we want to push actionable insights in the most effective way back to the business community, as quickly as possible. Our mission is to change the way everyone thinks about business school research. We don’t want to simply overcome the perception of lack of relevance, but really demonstrate that research creates substantive value. By increasing the engagement of faculty with business executives, the Translational Research Center will ensure that our researchers are asking the right questions, and that they are producing their research in a way that it can be consumed by academic peers and leading practitioners.”

Eventually, the Fox School will house the Translational Research Center in 1810 Liacouras Walk. That space is currently under renovation. The Fox School’s expansion across Liacouras Walk is happening in conjunction with the school’s centennial. For now, the center operates out of Dhanaraj’s office.

“Between the center, our school’s expansion, and our 100-year anniversary, it is an exciting time to be at the Fox School,” he said.

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Bernie Milano, BS ’61, stands with graduates of The PhD Project.

Decades after the implementation of affirmative action, African-American and Hispanic-American students are more underrepresented within colleges and universities than they were 35 years ago, according to The New York Times.

This gap extends into business as well. Only one quarter of senior executives in Fortune 500 companies are minorities, with Hispanic and African-American executives underrepresented by 9 and 13 percentage points, respectively.

Alumnus Bernie Milano, BS ’61, saw an opportunity to break this cycle. In 1994, he founded The PhD Project, a nonprofit dedicated to increasing workplace diversity, to address this racial disparity in workplaces and academia—starting with business schools’ doctorate programs.

It began with a question, Milano recalled to the Chronicle for Higher Education in 2015. Frustrated at the lack of diversity while recruiting for KPMG, Milano wanted to know what could encourage students of color to study business: “Would diverse faculty attract diverse students? And with a diverse faculty and diverse students, would the diverse students then perform up to their potential?”

An absence of faculty of color at the front of classroom can inherently limit ideas of higher education for minority students. The PhD Project guides and encourages African-American, Hispanic-American, and Native-American students to pursue doctorate degrees, in order to widen the pool of underrepresented faculty, administrators, and leaders throughout the nation’s schools and workplaces.

The Fox School recognizes the crucial role that business schools play in this cycle. “By supporting the students of today, we are strengthening the next generation of faculty and leaders,” says Lisa Fitch, senior associate director of PhD programs at the Fox School.

Together, The PhD Project and the Fox School help doctoral students and alumni faculty members become anchors of proof that young students need. The alumni then become role models, demonstrating that a doctorate is achievable and necessary for a representative career cycle.

Dr. Jamie Weathers, PhD ’16, assistant professor of finance at Western Michigan University and graduate of The PhD Project.

“As a minority in higher education, you are likely to be the only one in your cohort,” says Jamie Weathers, PhD ’16, an alumna of the Fox School and graduate of The PhD Project. “Having access to a network of people that look like you, that face the same challenges as you, is beyond helpful.”

According to a study from the TIAA Institute, university faculties have become slightly more diverse in the last two decades. Since 1994, The PhD Project has been successful in guiding 1,000 African-American, Hispanic-American, and Native-American students in completing their doctorate degrees.

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Four months after Hurricane Maria, much of Puerto Rico is still struggling. (Photo: Ivan Cardona)

For many students, the first semester of a new degree program is challenging. For Ivan Cardona, it was nearly impossible.

Cardona, a Puerto Rican native, came to the Fox School for his first residency of the Executive Doctorate in Business Administration (DBA) program on September 15—about one week after Hurricane Irma rocked the island territory.

Immediately after the weekend residency, he faced down Hurricane Maria, which directly hit the island with 175 mph winds and more than three feet of rain. Cardona barely arrived home in time to take shelter with his two young daughters.

“My home rumbled and shattered for over 24 hours,” Cardona remembered. At 5 a.m., he watched as water began creeping into his home. After the storm, with his family safe, his house compromised and his business flattened, Cardona reflected on his situation. “Puerto Rico was simply gone, and whoever took it away left a broken, wrecked, and shattered skeleton of an island.”

Nearly the entire island lost electricity and almost half lacked access to clean drinking water. As Cardona was left to rebuild his community, his dreams of a doctorate degree could not have felt further from his grasp.

“Weeks went by before I got to communicate with Temple.” Without internet, Cardona traveled to the nearby medical center for his evening WebEx classes, “hiding from the mandatory curfew on the island,” he conceded.

Yet despite these seemingly insurmountable odds, Cardona persevered.

In mid-October, he traveled back to Philadelphia to, in his words, graciously bow out of the program. Instead, Cardona received overwhelming support from colleagues and professors. “I felt a real sense of empathy, commitment and concern that I never expected,” he said of his experience. With new books to replace his waterlogged ones, Cardona finished his second residency with a renewed spirit.

Now, four months after Hurricane Maria hit, nearly one-third of Puerto Rican residents are still living without power. Although Cardona’s struggles are far from over—long lines at the ATM, grocery stores, and gas stations constantly overwhelm him—he has led efforts to clean up and rebuild his community. In November, he organized a Thanksgiving dinner for over 2,000 people, and in December, he coordinated a toy drive that benefited nearly 3,000 children.

As he starts the second semester of his three-year executive doctoral program, Cardona reflected on the challenges of last few months. Thanks to the support from his colleagues, he was able to keep up with his studies while helping the island recover. “I realize we were more than just a cohort,” he said. “I’m part of the Temple family and we take care of one another. It is something that truly makes me Temple proud.”

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Concussions have forever altered the sports landscape, calling attention to an injury that is difficult to diagnose and spawning a major motion picture.

Samuel D. Hodge, LAW ’74, professor at the Fox School, has co-authored a book that approaches head trauma and brain injuries, including concussions, from the perspective of the insurance, legal, and medical fields. His book, Head Trauma and Brain Injury for Lawyers, is the latest in a series of medical-legal guides he has penned for the American Bar Association. He’s written others spanning anatomy, the spine, and forensic autopsies.

“We used to assume that boxers were just ‘punch drunk,’ or that a football player ‘got his bell rung,’ but now, obviously, we know better,” says Hodge.

While the book delves into head trauma and traumatic brain injuries (TBIs), Hodge says he and co-author Jack E. Hubbard, professor of neurology at the University of Minnesota’s School of Medicine, took a broader approach. The book covers basic anatomy of the brain and its functions, explains the neurological system, and demonstrates how to understand and interpret diagnostic tests for this area of the body.

“What makes the book so interesting and its breadth so wide is that we have chapters on head injuries sustained in military combat, sports, third-party lawsuits, social security disability, and workers’ compensation,” Hodge explains. “Our approach, from both a medical and legal perspective, should make this the seminal book on this subject—not only for medical and legal professionals, but also for those in the insurance industry.”

TBIs contribute to roughly 30 percent of all injury deaths in the U.S., according to the Centers for Disease Control and Prevention. In his research, Hodge found that TBIs were the most common injury incurred in the wars in Iraq and Afghanistan.

“On the surface, that is surprising,” he says. “But because our military personnel have full body armor, they’re protected from shrapnel in pretty much every other part of their bodies. But road landmines, explosions, and IEDs made concussions and other types of brain trauma the signature injury of the war.”

Concussion litigation has shaken the NFL, as former players file federal lawsuits against the league both for failure to acknowledge the lasting effects of brain-related injuries and to establish guidelines for the recognition and prevention of them. TBIs have been identified as a major cause of chronic traumatic encephalopathy (CTE), a protein buildup that causes degeneration of the brain. The discovery of CTE, and the NFL’s initial refusal to address it, inspired Concussion, the award-winning film starring Will Smith.

Robert C. Cantu, clinical professor of neurosurgery at Boston University, who previously has urged the NFL to embrace medical findings pertaining to concussions and CTE, authored a chapter in Hodge’s book.

“Concussions aren’t simply a timely topic that will go away. People still lack a fundamental understanding of their effect on the brain,” Hodge says. “The contributions of Dr. Cantu and other leading experts to this book demonstrate the relevance of TBIs, concussions, and all head injuries today.”

This story originally appeared in On the Verge, the Fox School’s research magazine.

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Home healthcare is a growing need for many Americans. But is it delivering on its promises? (Photo: MyFuture/Flickr)

Americans are growing older—and their caretakers need to decide the best and most cost effective way to care for them.

Since 2011, nearly 77 million baby boomers have become eligible for Medicare. For the elderly and those suffering from chronic diseases, home healthcare (HHC) is a convenient and cost-effective solution that avoids the necessity of receiving care through hospitals and nursing homes.

HHC meets an important demand in the healthcare system. Experts have found that close to 90 percent of Americans wish to spend their final time at home. But how does the care HHC providers deliver compare to that of larger health institutions?

Last year, In collaboration with investigators at the University of California at Irvine, Dr. Jacqueline Zinn, professor in the Fox School’s Department of Risk, Insurance and Healthcare Management, has received a five-year grant from the National Institute of Health to investigate the cost effectiveness and quality of care provided by home healthcare agencies.

Over the last decade, the home healthcare field has seen dramatic increases in patients, care providers, and spending. The New York Times reported that individual states spend close to $200 billion of their own funds on Medicaid, making it the second biggest item within their budgets.

As projections continue to rise and healthcare technology advances, patients should be aware of their care options.

“What we don’t know is whether or not the technologies that lead to additional growth impact the quality of care delivered,” said Zinn. “In other words, do larger facilities have better quality associated with growth? What is the optimal [home healthcare] agency size with respect to cost and quality? These are the questions we hope to answer.”

Home healthcare not only includes rehabilitative care after surgery, but hospice care and palliative care, which is dedicated to relieving people’s physical and emotional symptoms after facing life-threatening illnesses.

“Healthcare is on track to become 20 percent of the GDP,” said Zinn. “That means one in every five dollars generated by the U.S. economy will be in the healthcare sector.”

Alongside her fellow researchers at the UC Irvine, Zinn aims to discover valuable insights for patients, government, and health institutions, and home healthcare agencies alike by learning more about this under-researched field.

Are you interested in the intersection of healthcare and business education? Read our article, “Why More Surgeons and Health Professionals Are Pursuing MBAs” and learn more about Fox School Research.
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This was a busy—and for some, award-winning—fall semester for the Fox School research community!

On October 18, the Office of Research, Doctoral Programs, and Strategic Initiatives hosted its 7th Annual PhD Paper Competition in the MBA Commons of Alter Hall. This year, 31 doctoral students and alumni submitted papers and created visual posters of their research to compete for more than $3,000 in cash and prizes.

Papers were evaluated by Fox School faculty, who chose winners in categories including first year, second year, and third-to-fourth year doctoral students. Students also competed for best dissertation proposals and completed dissertations. The 15-member evaluation committee judged the rigor, novelty, and presentation of the research, as well as its contribution to theory, practice, or policy.

Lauren Spirko, assistant professor of Statistical Science/PhD candidate

Winners included Lauren Spirko of the Statistical Science Department, who won first place in the completed dissertation category for her paper proposing a statistical method for analyzing enormous data sets of genes and their various types of expressions. See a full list of participants and winners here.

On November 1, the Office hosted its 15th Young Scholars Interdisciplinary Forum, which aims to facilitate interdisciplinary collaborative research projects that span disciplines within and outside of the Fox School. Together, twenty Fox doctoral students and faculty members received nearly $35,000 in grant funding for their research.

Han Chen, a Marketing and Management Information Systems PhD student, received a grant for her research aiming to understand the neurophysiological responses to branding and marketing with respect to age. The funding will go toward the purchase of eye-tracking glasses to monitor subjects’ eye movements when reviewing physical and digital advertising materials.

Terry T. Namkung, DBA student

The Executive Doctorate in Business Administration (DBA) program also had students succeed this semester. Terry T. Namkung, a first-year DBA student and CEO of DC Energy Systems, was chosen as one of seven finalists in the 2017 Global Business Challenge. He presented his research—an energy panel that aims to reduce energy waste by 30% by decreasing the inefficiencies of Alternating Current to Direct Current adapters, converters, and inverters—in Brisbane, Australia, in early November.

Carla Cabarle, a second-year DBA student, showcased her work at the Fall 2017 Meeting of the Institute for Fraud Prevention. As one of five finalists, Carla presented on using analytics to predict the risk of financial statement fraud in crowdfunding to academics and industry experts in financial risk and fraud management.

On behalf of Paul Pavlou, senior associate dean of research and Milton F. Stauffer Professor in the Fox School, the Office congratulates the doctoral students and faculty on a very successful fall semester.

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For the financial community, the period around earnings announcements—the official public statement of a firm’s profitability—is often a time of speculation. As investors, knowing when to buy or sell stocks is part of the job. And when earnings announcements are released, the risks are only magnified.

The question is: Why hold onto a risky investment?

For decades, researchers have been unable to understand the irregular behavior of investors holding during earnings announcements. Dr. Pavel Savor, associate professor of finance at the Fox School of Business, proposes a groundbreaking explanation of this phenomenon in his paper, “Earnings Announcements and Systematic Risk.”

Depending on the news—good or bad—regarding a firm’s performance, earnings announcements can create a risky investing environment. Savor found that the expectation of a firm’s earnings can entice investors to hold stocks while expecting higher returns.

“People are naturally risk-averse,” says Savor. “If you are holding on to a risky asset, you need to be compensated for it.”

For example, if you were given the opportunity to hold a one percent stake in Google at the time of an earnings announcement, what should you do? “You would say, that’s not enough [stock], because it’s a very risky time.” If investors are holding a stock around earnings, they are going to demand higher returns. This risk-based explanation, Savor argues, causes the stock prices to increase during these periods.

And this doesn’t just impact the period around the earnings announcements. Savor found that the anticipation of the announcements has a longer term effect than previously thought. According to the research, the performance of a firm during an announcement period can predict its future growth two and three quarters into the future. Savor found that the returns at announcing periods were significantly better predictors for performance than market returns.

Much research has been conducted on earning announcements, but this study is the first of its kind to show that returns around earning announcements can be explained by risks inherent in those announcements.

For this leading-edge research in the finance field, Dr. Savor received the Amundi-Smith-Breeden Prize given to the top three papers each year from the Journal of Finance.

Savor’s word to investors: Proceed with caution. “Be aware of the risk you are bearing,” he says. The gamble of investments may be inevitable, but with the recognition of the risk involved, firms can perform better. Earning announcements not only reveal a firm’s progress, but also give insight to how the economy is reacting to stocks.

“We [researchers] all hope our work will have tremendous impact,” says Savor. He anticipates this research will help investors be better informed when choosing their investments. “Our paper is likely to change at least how people view some return patterns. This is something no one was able to show before.”

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For some, outsourcing is a dirty word. But does it have to be?

According to Forbes, approximately 300,000 jobs are outsourced by the United States yearly. “Offshore” outsourcing, in particular, has become a widely used method in relocating office jobs to countries where labor costs are significantly lower. For example, Carrier, an Indianapolis-based HVAC company, made headlines for laying off 600 workers, sending those jobs to Mexico instead.

However, new research from the Fox School shows that choosing to outsource in a foreign country goes beyond a pros and cons list or a review of your bottom line—it is a strategic business decision.

J. Jay Choi, professor of finance, and Masaaki “Mike” Kotabe, professor of international business and marketing, embarked on a collaborative project in order to understand what motivates firms to seek options such as offshore outsourcing, in a way previous research has not.

Their paper, “Flexibility as Firm Value Drivers: Evidence from Offshore Outsourcing,” which was accepted for publication in the Global Strategy Journal, blends the researchers’ backgrounds strategy and finance to analyze outsourcing as an approach rather than a choice.

Choi and Kotabe found that firms chose to outsource in a foreign country in order to have flexibility in the face of uncertainty. An uncertain market can mean an upsurge in prices, a decline in demand, unforeseen competition, or an economic recession. Companies have to be flexible in order to adapt to these changes—which offshore outsourcing can offer.

“Our work fills an important gap demonstrating that flexibility adds value in more uncertain conditions, more so internationally than domestically,” said Kotabe. “Outsourcing provides firms the ability to adjust and evaluate their options in order to gain quality resources with limited costs.”

When firms are able to move their operations offshore, they essentially gain more freedom. Lower costs, more suppliers, and the ability to expand in more financially driven areas become widely available.

This level of flexibility is not as easily achievable when it comes to domestic operations.

However, Choi and Kotabe explain this approach may come with set-backs. “Offshoring allows firms to perform better financially, however, this relationship may be somewhat weakened by potential loss of domestic innovation and talent while dealing with foreign suppliers.”

Choi and Kotabe merged their respective disciplines in order to gain a unique perspective of outsourcing. “The key is to conduct business research as realistically as possible, so that we can provide relevant research findings to the business community,” said Choi.

The taboos that surround outsourcing may still exist, but with this new research, businesses and consumers alike can better understand when outsourcing will provide the best results.

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While there are many roads to launching a successful essay, article, or research paper, many of those roads have bumps, tolls, and avoidable potholes. Luckily, the Office of Research, Doctoral Programs, and Strategic Initiatives at the Fox School is here to help doctoral students and faculty avoid some of the most common writing mistakes.

Matt MacNaughton, a professional copy editor, shares his six recommendations for writers who want to get the most out of their papers.

1. Know Your Audience

Take a moment to ask, “Who am I writing this for?” If you are planning to submit your work to a journal or present it at a conference, look for submission guidelines that can help you tailor your entry for those readers. If your paper has the wrong format or layout, or uses a non-preferred citation style, your readers may decide that this isn’t the publication for you.

Be sure to introduce language with which your readers may not be familiar. If your audience is in your field, then perhaps you can assume a rudimentary knowledge of technical terms. If you are writing for general purpose, like a newspaper or magazine, define any jargon. If it’s redundant, an editor will remove it anyway.

2. Utilize Clear, Concise Language

In writing as in life, our diction requires our utmost attention. While we sometimes think that certain concepts require vivaciously paced sentences that deliberately pontificate their topic with the multisyllabic majesty of a character from Twelfth Night, most of the time it is truly unnecessary.

Did you understand that paragraph? Probably not as well or as quickly as you could have, if I had simply said, “Long sentences with big words are not usually better than shorter sentences with simpler words that convey the same meaning.” In fact, the latter contains more information in a shorter sentence. Keep it simple!

3. Quick Grammar Tips are Great…

Spelling mistakes and grammar missteps happen all the time, whether intentionally or by accident, but it does not have to be this way! There are a number of tools online that can help with easy questions concerning unfamiliar grammar rules. For example, does the comma go inside quotations, or outside? How about a semicolon or colon? I could tell you that most places in America will tell you unequivocally to put the comma inside and the colon outside, however –

4. …But Not Always Perfect

–in the U.K., sometimes those grammar rules are flipped!

Be very careful with these rules, because even if I comes before E except after C, the science can be very flawed! While knowing the difference between They’re, There, and Their will never come back to bite you (there are, in fact, no exceptions to this rule), style guides vary widely over things as silly as the Oxford comma. While quick grammar rules and tips can be helpful, don’t be afraid to take a few seconds to search for an answer in a style guide or the internet. A recommended style guide is the Associated Press, but, again, it depends on the requirements of the publication or conference.

5. Read Your Paper Out Loud

This is something that a number of people have heard about but very few practice. When you read your work out loud, you become acutely aware of each and every choice you made while writing, and can tease out the minute problems in pacing and language that otherwise your eyes would have glossed over .

You may not realize it, but you can hear grammar mistakes that your brain doesn’t recognize in print. You may even find yourself confused out loud when you were positive it made sense in print.

6. Get a Second Pair of Eyes

So you’ve gone through your paper to make sure you weren’t being verbose, that you were aligned with your submission guidelines, and that all your questions of grammar were addressed. Then, for good measure, you read it out loud and found a few more areas that could be edited for clarity. But sometimes reading and re-reading a paper can make you essay-blind. You need a second pair of eyes (and, maybe, a vacation).

That’s why the Office of Research at the Fox School has set you up to succeed with a copy editor who is available to read your manuscripts and provide feedback tailored to your needs. Doctoral students and faculty can send a request for copy editing services through our website. Once received, most submissions are returned with feedback within a week. Happy writing!

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Dr. Daniel Funk has made a significant mark on the field of sport management.

Funk, the Washburn Senior Research Fellow in the School of Sport, Tourism, and Hospitality Management (STHM) and the director of the Sport Industry Research Center at Temple University, recently received the Earle F. Zeigler Award from the North American Society for Sport Management (NASSM), one of the highest honors given to individuals in the field of sport research.

The award celebrates Dr. Funk as a key contributor to NASSM’s premier Journal of Sport Management and one of the most often-cited authors in the history of the sport management discipline.

Throughout his career, Funk has studied sport and recreation consumer experiences in order to help organizations understand customer acquisition, retention, and expenditure. He investigates the cognitive, physical, and organizational factors that shape our preferences and behavior to develop an effective mixture of marketing and management strategies that have become renown in the world of sport research.

Funk’s contributions have ranged from studies of an individual’s psychological connection to sports, to the relationship between sports team allegiance and customer loyalty. For example, Funk, along with Dr. Jeremy Jordan, associate dean at STHM, contributed to a paper by PhD student Bradley Baker about why runners keep running marathons.

The study investigated the relationship between runners’ satisfaction with and repeat participation in long-distance running events. Many studies have reviewed consumer satisfaction, but not much research has been conducted on experiential products, such as marathons.

After growing dramatically since 1960, road running peaked in 2013 and has been slowly declining each year. Between 2014 and 2016, two million less people crossed a finish line, but there were 2,000 more races from which to choose.

“Like any other business, running has a finite amount of customers,” Funk said. “If there is a decline in the demand for races and an oversupply in the amount of races offered, then there is an issue.”

While the researchers found a linear correlation between satisfaction and repeated participation in marathons—the more satisfied a customer is, the more likely they are to run the race again—satisfaction from an experience, like a marathon, is different than traditional customer satisfaction.

For instance, runners who have a “bucket list” may not come back to that race, regardless of how satisfied they are. Factors indicating a higher likelihood to return included previous running experience and geography—meaning that experienced runners and local runners were more likely to come back, despite that fact that first-time runners reported higher satisfaction levels with the race.

The article, “Run Again Another Day: The Role of Satisfaction on Repeat Marathon Participation,” was the winner in the NASSM’s national student research competition in 2016 and was recently published by the Journal of Sport Management.

For 800,000 young immigrants, the future is uncertain.

In August, the Trump Administration rescinded the executive actions that President Obama took to protect minors who illegally immigrated to the United States, not by their own choice, but alongside their parents. Established in 2012, the Deferred Action for Childhood Arrivals (DACA) policy allowed young immigrants to live, work, and go to college without the fear of deportation.

The Trump Administration maintains that Obama’s actions were unconstitutional, exceeding the scope of the executive branch by effectively changing the country’s laws—a responsibility that rests solely with Congress.

Kevin Fandl, assistant professor of Legal Studies at the Fox School, studied whether that claim is true in his paper, “Presidential Power to Protect Dreamers: Abusive or Proper?” which was accepted for publication by the Yale Law & Policy Review Inter Alia.

Fandl reviewed 200 years of case laws and statutes since the founding of the United States to learn what role the president has in enforcing—or ignoring—legislation affecting young immigrants, known as “Dreamers.” His research asks the question: “Does the president have the ability to selectively choose how the law is enforced?”

The president makes an oath to uphold the laws of this country. But, Fandl says, that doesn’t mean he has unlimited capacity to enforce each and every law. The president has the power of prosecutorial discretion—the authority to choose which laws to impose and to what degree—to allocate the resources available, such as budgets or staff, in line with his Administration’s priorities.

“The government is not a business,” says Fandl. “But in this case, you have to look at it from a business perspective and say, ‘This is how we have to dedicate our resources.'”

Fandl relates it to marijuana—an illegal drug by federal law, but legalized or decriminalized in many states. By choosing to not crack down on dispensaries, administrations can reallocate those resources to other issues, like, for example, border security.

In the case of DACA, Obama chose to not enforce immigration laws against individuals brought to this country as children. Fandl says, “Interpreting how the law is enforced is not only within the power of the executive—it is a logical approach to resource management.”

As Fandl’s research of the historical precedence shows, the Trump Administration’s argument against the constitutionality of DACA is flawed. The powers of prosecutorial discretion protect the president’s ability to spend more time or money on enforcing some laws over others.

Fandl’s paper, “Presidential Power to Protect Dreamers: Abusive or Proper?” will be published online by the Yale Law & Policy Review Inter Alia in the coming weeks.

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Job hunting is a challenge for most people—but for ex-convicts transitioning back into everyday life, finding a job can be nearly impossible. Data suggests that over half of the men and women who return home after being released from prison are unemployed for up to a year. Many of the formerly incarcerated see self-employment as one of the only routes to earn a steady income without resorting to low-wage employment.

Dr. Charlotte Ren, a Fox School associate professor in the Strategic Management department, saw the challenges the formerly incarcerated face and created an integrated course that provides entrepreneurial skills to this underserved population. This year, Ren’s course, “The Social Entrepreneurial Approach to Community Reintegration,” was identified by the Academy of Management as one of the finest innovations in the area of entrepreneurship education and received the 2017 Innovation in Entrepreneurship Pedagogy Award.

Ren’s course is part of a larger, on-going initiative called the Penn Restorative Entrepreneurship Program (PREP), an initiative she founded in 2014. “At the core of this course [and PREP] is the idea of addressing societal challenges and transforming lives through knowledge creation and sharing by bringing together college students and members of disadvantaged populations,” said Ren.

The ten-week accelerated program brings together students from multiple disciplines and formerly incarcerated individuals for intensive training on the many ways of starting and running small businesses and social enterprises.

After completing the course, students from both the university and the judicial system will be able to understand major theories of entrepreneurship, acquire skills involved in designing and implementing social entrepreneurship programs, and also understand the nature and scope of community reintegration problems

The economic benefits of re-entry programs like Ren’s have been projected to make a significant impact. According to the Center for Economic and Policy Research, the U.S. economy lost between $57 and $65 billion in 2008 alone due to unemployed or underemployed ex-convicts. Through her course, Ren is helping to create opportunities for the formerly incarcerated to contribute to society and our economy in a meaningful way.

“I hope my course will inspire more faculty members,” Ren said, “both at the Fox School and across other schools and universities, to develop courses that apply their research and teaching expertise into addressing some of the pressing social issues in society.”

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