Awards and Honors

It is one of the most pleasant parts of the year in review — pausing to acknowledge the many distinctions achieved by the faculty, students, and alumni of the College of Commerce and Business Administration. From honors for lifetime achievements and service, to accolades for teaching and research, to grants, publications, and press citations, the distinctions brought to Commerce by her own are legion.

College-wide Awards

Peter Solvik electrifying the audience with tales of the growth of the Internet.
MOST PRESTIGIOUS OF THE ANNUAL AWARDS PRESENTED TO COMMERCE FACULTY AND TEACHING ASSISTANTS are the four Excellence-in-Teaching Awards sponsored by the Commerce Alumni Association. Recipients are recognized at the Spring Luncheon in Chicago, which this year took place on April 17 at the Palmer House Hilton. Keynote speaker was Peter Solvik (B.A. Business Administration 1980), vice president and chief information officer of Cisco Systems. Inc. After careful review of nominations, the college's Educational Policy Committee selects the winners, who receive a generous cash bonus, funded by the Commerce Alumni Association. In 1998, the following faculty were recognized. (Also see article in Fall 1998 InSight.)
Neil Pearson, associate professor of finance, was given the Excellence-in-Teaching Award for Graduate Teaching. Pearson teaches options and futures and financial institutions and has also developed a new course in financial engineering for the revised MBA program. His research specialties include asset pricing theory, valuation of derivative securities, risk management, and financial institutions. His widely read "primer" on value at risk, was written with accountancy faculty member Tom Linsmeier. A member of the faculty since 1995, he holds a Ph.D. in finance from MIT and an A.B. in economics from Princeton.
Elizabeth Moore-Shay, assistant professor of business administration, received the Excellence-in-Teaching Award for Undergraduate Teaching. A member of the UIUC faculty since 1993, she teaches promotion management, consumer behavior, and principles of marketing. Among her research topics is the effect of advertising and promotion on children. Moore-Shay holds a Ph.D. in marketing and an M.Ed., both from the University of Florida, as well as a B.A. in psychology from Mount Holyoke College. She serves as faculty advisor to the undergraduate chapter of the American Marketing Association.
Ihsan Ajwad, a fourth-year doctoral student in economics, received the Excellence-in-Undergraduate Teaching Award. Ajwad was also one of five graduate teaching assistants at UIUC to be presented with the prestigious Campus Award for Excellence in Undergraduate Teaching, which honored him for "consistently excellent performance in the classroom, positively affecting the lives of his students, taking innovative approaches to teaching, and making other contributions to improve instruction, including influencing the curriculum." Ajwad also won the economics department's Robert E. Demarest Teaching Award in 1997.
Also awarded the Excellence-in-Undergraduate-Teaching Award for 1998 was Rahim Quazi, a fifth-year doctoral student in economics. A native of Bangladesh, Quazi teaches macroeconomics and statistics and has consistently received superb evaluations from his students. Last year, he also garnered the econ department's prestigious Robert E. Demarest Teaching Award.
EXTRAORDINARY SERVICE TO UNDERGRADUATE STUDENTS IS RECOGNIZED ANNUALLY BY THE COMMERCE ALUMNI ASSOCIATION with the presentation of the Emerson Cammack Outstanding Service to Undergraduate Students Award. Winner for 1997-98 was Patrick J. Cleary, assistant dean and director of budget and resource planning at CBA. Cleary was nominated by faculty and students, who particularly cited his sixteen years of service as faculty adviser to Phi Gamma Nu, the business student fraternity. The award is named in honor of the legendary Commerce dean who was its first recipient.

Kent Monroe has received the Graduate College Award for Outstanding Mentoring of Graduate Students, a university-wide award, which recognizes exemplary efforts by graduate faculty members in advising and serving graduate students. Monroe, head of the Department of Business Administration and J.M. Jones Distinguished Professor of Marketing, was one of two faculty honored in 1998. A CBA alum, he has been a member of the college faculty since 1991.

Other teaching awards



Hadi Esfahani, economics, for "The Determinants of Trade and Industrial Policies"

Josť Antonio Rosa, business administration, for "Visualizing the Mental Models of Market Actors and Building an Electronic Repository of Market Stories"

Mike Shaw, business administration, for "Electronic Commerce and the New Consumer Processes" and also for "Information Technology for Managing Supply Chain Networks"

David Ziebart, accountancy, for "Visual Methods for Assessing Market Efficiency"

An institution of higher learning is only as good as the students who attend and the faculty who teach and perform research that brings renown to its name.


F A C U L T Y  I N  T H E  N E W S

Given the caliber of the faculty of Commerce and Business Administration, it's no surprise that their work appears regularly in the country's top business journals, or that they garner recognition in the profession. The popular press, too, showcases expert opinions from Commerce profs.

  • Elizabeth Moore-Shay, business administration, was cited in The Times of London. Her study demonstrating that girls are worse negotiators than boys — perhaps because they aren't taught to express their wants, or to drive a hard bargain — provided the lead for a feature story by writer Susan Gray.
  • In April, Fortune magazine cited the research of finance faculty Josef Lakonishok and Louis Chan which "found that during losing months in the S&P, high-dividend companies outperformed the lowest-dividend companies by an average of 2.2 percentage points."
  • Lakonishok also made the pages of USA Today, in a mid-July article when he took issue with the article's predictions for a continued bull market. "There is a lot of optimism, a lot of maybe wishful thinking in this market," Lakonishok countered. In June Lakonishok had made similar comments at the Federal Reserve.
  • "A Comparison of Dividend, Cash Flow, and Earnings Approaches to Equity Valuation," by Theodore Sougiannis, accountancy, and a colleague at UC-Berkeley, was number four on Fortune's list of "Top Five Downloads" being made by Web browsers in quest of enlightenment from academic business journals. The paper also made the Social Science Research Network's "Top Ten Download List for All Networks All Time Hits (3,840 times as of August 12, 1998)."

    Fortune also cited another study co-authored by Sougiannis, "Stop Whining About Wall Street," which finds that "companies with higher

R&D expenditures produce higher returns to shareholders."

  • American Demographics tapped Brian Wansink and Abbie Griffin, both business administration faculty, for a piece about brand proliferation. "A shopper faced with too many products will not make a careful choice because he or she is too bewildered," Wansink observed. Griffin noted that "Consumers are driven to try new products if they meet a need better or solve a problem better than the products that are currently available . . . or if the product adds variety to the current selection."
  • A piece about compulsive gambling, which appeared in The Houston Chronicle, quoted John Kindt, business administration, who predicts that addiction to gambling will continue to rise, right alongside the opportunities to gamble legally.

    The Telegraph Herald in Dubuque, quoted Kindt on free food and gifts at slot clubs — he calls them "compulsive gambling specials."

  • The Economist took note of work co-authored by Kevin Hallock, economics and labor and industrial relations. The research showed that "bosses in union-free firms [in America] earn 20 percent more than those in similar firms that are fully unionized." And in other countries, the ratios are even higher.

    Hallock also drew a mention in The Washington Times, which cited his study showing that CEOs who sit on one another's boards get up to 17 percent more pay, and that 20 percent of the country's largest companies are "reciprocally interlocked."

  • Marianne Ferber, economics, was quoted in the Austin American-Statesman, on a number of labor issues. She observed that the idea that part-time jobs lead to full-time employment is a myth. Similarly, she disagreed with the prevalent view that non-traditional workers — like contract employees and independent contractors — are poorly paid. She noted that level of education is "an important predictor of wages."
  • Finance chair Morgan Lynge was interviewed by The Pantagraph for an article on the upswing in small banking. Lynge described the trend as "a response to those customers who don't want to deal with a larger, impersonalized bank." He added, "I think these merger trends we've seen will continue. But Citicorp doesn't want to own a little bank in Sidney."
  • The Chicago Tribune talked to Peter Colwell, director of the Office of Real Estate Research, about the rise of housing costs and how it has affected the job market in real estate. "Where we once graduated people who went into the real estate departments of major lenders, today's graduates are probably working . . . as financial analysts who know about REITs and mortgaged-backed securities," he observed.
  • Finally, UIUC's fame as an institution has indeed spread far. According to the World Education Report 1997, released by the Indian Institute of Science last spring, the University of Illinois is the third top university in the world. The institute's ratings are based on criteria including research funding, international publications, faculty-student ratio, and admissions.


PRESENTED TO FRIENDS OF THE COLLEGE AND ALUMNI ASSOCIATION IN RECOGNITION OF OUTSTANDING SERVICE, the Commerce Alumni Association Appreciation Award went this year to Willard "Googan" Bunn III. An alumnus of Princeton and the University of Virginia, Bunn has been a devoted supporter of CBA for many years and is a long-time member and former chair of the college's Business Advisory Council. Managing director of ABN AMRO, Incorporated, Bunn has previously served as senior vice president and managing director for The Chicago Corporation (acquired by ABN AMRO in 1997) and as chairman and chief executive officer of Banc One Illinois Corporation. He has also worked for Chemical Bank in New York City and the Marine Bank of Springfield. He is a director at CILCORP Inc., in Peoria, and a trustee of Lawrenceville School. A former member of the University of Illinois Foundation Board of Directors, he remains a foundation member and belongs to the Presidents Council. He frequently comes to campus to speak and has taught in Poland for the joint UIUC/University of Warsaw MBA program.
Award-winner Willard Bunn (left)
and Dean Howard Thomas before the ceremony

This year, the Commerce Alumni Association Distinguished Alumnus Award went to Stanley C. Golder, B.S. Economics 1951. The award is given to a graduate of the college for outstanding career achievement. A highly respected venture capitalist, Golder is now a consultant to Golder, Thomas, Cressey, Rauner, Inc. (a private equity investment business which he co-founded in 1980 as Golder, Thomas and Cressey). He retired as general partner in the firm in 1993. His distinguished career also included positions as vice president and chief operating officer of First Capital Corporation of Chicago, and executive vice president and general manager of First Chicago International Banking Corporation. Golder's continued ties to CBA include membership on the Dean's Visiting Committee and the Business Advisory Council. He and his wife, Joan Jacobi Golder, have been honored with the Human Rights Medallion, the American Jewish Committee's most prestigious award. He serves on the board of Golden Apple, a Chicago program that promotes and rewards educational excellence. In 1996, Golder endowed Commerce with a $1.5 million gift, for the Stanley C. and Joan J. Golder Distinguished Chair in Corporate Finance.


Student Awards and Honors

Socializing at the Annual Awards Banquet — where the achievements of CBA students and faculty receive well deserved recognition.

Commerce Alumni Association Student Awards


These CBA graduating seniors are in the top 3 percent of the college.
Matt David Arnold
Mickey Sue Ash
Dallon Randall Christensen
Shannon Lynn Duley
Michael R. Hodel
Mary Elizabeth Janas
John S. Kim
Anthony Michael Lawler
Loretta Hsuan Ling
Amy Kristine Maxwell
Andrya Robyn Meeker
Ryan Christopher Metcalfe
Michael Craig Minnis
Catherine M. Moreau
Steven Andrew Nickas
Regina A. Niemerg
Todd Joseph Ofenloch
Amy Beth Reider
Amanda Jo Skinner
April Mary Smith
Annika Noelle Strombeck
Larry Brent Tarschis
Garen Mark Toloken
Jamie Sue Winet
Juliana Y. Wong
Sarah Marie Zehr
These awards, made by Commerce Council, are given to those who have evinced academic achievement and service to the college and university during their undergraduate academic career.
Scott Catlett
Mary Janas
Patrick Jensen
John Kim
Karen Ma
Andrya Meeker
Jeff Pohlman
Susan Simon
Bryan Stuart
Juliana Wong
Named by the Student Alumni Association and the University of Illinois Alumni Association, graduating seniors who are recipients of this award have been recognized for leadership and good academic standing. CBA recipients are:
Matthew Anderson
Jill Antonini
Jason Arndt
Kara Baier
Kristin Bauer
Ursula Brockman
Aaron Cohen
Katherine Dunn
Paul Gierstorf
Patrick Jensen
Aaron Klopfenstein
Brett Locascio
Karen Ma
Elizabeth McGrath
Joshua McKey
Andrya Meeker
Matthew Mell
Mandy Jo Myers
Brandon Peele
Jeff Pohlman
Andrew Sachs
Erin Shields
Susan Simon
Presented each year by the Division of Intercollegiate Athletics in recognition of the important dual achievements of UIUC's scholar-athletes, the George Huff Awards are given to students who have achieved a minimum 3.0 grade point average during the academic year, while also winning a varsity letter in the same period. CBA recipients are:
Sarah Aberle
Amanda Barrick
Maureen Clark
Kelly Dexter
Oliver Freelove
Jacob Goldstein
Michael Gusich
Chad Hebel
Matt Heldman
Jessica Klapper
Craig Marquie
Stacy Schapiro

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