New Research Awards
RESEARCH HAS ITS OWN REWARDS. BUT FROM NOW ON IT ALSO WILL RECEIVE
SPECIAL RECOGNITION FROM THE COLLEGE'S OFFICE OF RESEARCH. THIS FALL IT ESTABLISHED
TWO RESEARCH AWARDS, ONE FOR JUNIOR AND ON FOR SENIOR FACULTY.
researcher who is selected will receive $1,000 and a plaque commemorating the occasion.
A plaque listing the names of all recipients will also be prominently displayed in
the college. The recipients of the award will also be recognized at the College
Awards Banquet held in April. the first faculty honored with these awards are Kevin
Hallock, assistant professor of economics, and Josef Lakonishok, the William G. Karnes
Professor of Mergers and Acquisitions.
||Kevin Hallock joined the economics department in 1995 after
completing his doctorate at Princeton. A labor economist, he has published several
articles in the leading economics and finance scholarly journals, including the American
Economic Review. Although in the filed only a few years, he is already
established as an expert on executive compensation, as witnessed by the fact that his work
is either featured or quoted in Barron's, The Economist, and Businessweek.
In addition to his publishing record in journals and elsewhere, Hallock is an
excellent teacher and has served on ten doctoral committees. Two years ago he
started the Applied Economics Workshop, which has attracted large numbers of faculty and
||Josef Lakonishok joined the finance faculty in 1987 following positions at
Cornell and Tel Aviv universities. In nominating him, department chair Morgan Lynge wrote,
"Lakonishok has compiled a record of scholarly contributions that few in his field
can match. His early work on problems in stock market prices and returns ran counter to
the accepted paradigm and was very controversial. It has since become the predominant view
and has had an immense impact on the field . . . . he has made pioneering contributions
that have increased our understanding of what determines prices and trading volumes on the
stock market, the dividend policies followed by companies, the behavior of financial
analysts and professional investors, and the effects of alternative accounting
methods." He is the most frequent contributor to the Journal of Finance, the
leading journal in his field. His work is frequently cited by other scholars (515 times
from 1986-96) as well as in the popular media, including The Wall Street Journal
and The New York Times.
- Abbie Griffin, professor of business administration, has been named to the board
of directors of Navistar International Corporation. A member of the CBA faculty since
1997, Griffin, a recognized authority on product development, has degrees in business
(Ph.D., MIT; MBA, Harvard), and chemical engineering (B.S., Purdue). "I happened to
be in the right place at the right time," Griffin rather modestly says of the
appointment. "They were interested in my background in business-to-business marketing
and product development. They have research questions they need answered. There will be
lots to talk about with my MBA students." Griffin also notes that, at age 44, she is
the youngest member of the eleven-member Navistar board.
- Jean-François Hennart, professor of business administration, has been given an
honorary degree by the University of Vassia, Finland. Presented last summer, the award was
made in recognition of his contributions to the field of international business research.
Hennart's research interests include the theory of the multinational enterprise and its
alternatives, as well as long-term contracts, countertrade, joint ventures, and Japanese
investment in the United States. He has been at Illinois since 1990.
- Roger Koenker has been made a Fellow in the Econometric Society a lifetime
appointment. Koenker, who is William B. McKinley Professor of Economics, is known for his
work on econometric theory and applications work which has drawn grants from NATO,
the National Science Foundation, IBM, and International Research and Exchanges. A member
of the Illinois faculty since 1983, he was also a Fellow in the Center for Advanced Study
in 1993. "Fellowship in the Econometric Society is one of the highest honors one can
receive in economics," says department chair Dick Arnould. Approximately four hundred
economists are active Fellows including Commerce Alumni Professor of Economics Wayne
- In November, an article in Ebony magazine named Cynthia Turner, assistant
professor of accountancy, as one of "Thirty Leaders, Thirty and Under," who
"use their talent, intellect, and leadership qualities to make their communities and
cities a better place for all residents." Turner, who was especially cited for her
work with community organizations, was the only college professor to appear in the
listing, which also included lawyers, financial analysts, designers, musicians, military
officers, teachers, and leaders in government and private industry. A CBA faculty member
since 1995, she teaches auditing and managerial accounting, and does research on
- The Center for International Business Education and Research (CIBER) has received
its third three-year grant from the U.S. Department of Education. Now funded through 2001,
at $220,000 annually, the center develops academic and outreach programs that promote
international business and trade. Current CIBER programs include workshops on teaching
international economics for high school teachers, national workshops on teaching business
foreign language and culture courses, travel grants to support undergraduate study abroad,
and faculty and doctoral student research designed to enhance international business
teaching and practice. A major undertaking during the next project period will be the
development of Web-based courses and modules on international business and economics aimed
at the business community.
- The Alfred P. Sloan Foundation has awarded $600,000 to the Urbana campus to continue
support for the Sloan Center for Asynchronous Learning (SCALE), which provides grants that
help faculty campus-wide adopt Web-based technology in the classroom. Lanny Arvan,
associate professor of economics, is the principal investigator for this recent grant. In
a strong show of support for this project, the campus has provided a $200,000 match.
- UI OnLine has made a grant of $250,000 to three members of the finance department. The
award will be used by Stephen D'Arcy, Virginia France, and Neil Pearson for
start-up costs of putting graduate courses on the Web.
- In-Koo Cho, the William S. Kinkead Distinguished Professor of Economics, received
a National Science Foundation grant of $182,019 for his research on "Learning to
Cooperate in Repeated Games." A renowned game theorist, Cho was on the faculty of
Brown before coming to Illinois and has also been an Alfred P. Sloan Research Fellow. He
has received continuous grant support from the NSF since 1987.
- The Coopers & Lybrand Foundation made an award of $141,205 to three Commerce faculty
members Deloitte & Touche Professor of Accountancy Richard Dietrich; Don
N. Kleinmuntz, associate professor of business administration; and Thomas Linsmeier,
assistant professor of accountancy. The grant was made for the continued support of
research in an experimental laboratory for financial reporting standards.
- The State of Illinois Board of Higher Education has awarded a grant in the amount of
$120,000 to Robert Resek, professor of economics and at the Institute of Government
and Public Affairs. The award will be used for research to determine the value of higher
education to the state, including benefits from increased earning power.
- The Departments of Finance and Agricultural Economics have been awarded a
$100,000 grant from the Chicago Mercantile Exchange for research on futures trading. The
NSF has made an award of $62,407 to John Conley, associate professor of economics,
for his research on "Independence and the Taste-Homogeneity of Optimal Jurisdictions
in a Tiebaut Economy with Endogenous Differentiated Crowding Effects."
- UI Critical Research Initiatives has made a grant of $50,000 to Mike Shaw,
professor of business administration, for "Integrating Critical Technologies and
Business Models for Electronic Commerce."
- The Office of Real Estate Research has received the final installment of its
three-year grant from the Mortgage Bankers Association of America (MBA). This funding
supports the quarterly Illinois Real Estate Letter and is also being used to
underwrite a new Spring MBA Lecture Series. Offered in conjunction with the Real Estate
Financial Markets class at Commerce, the series will include: Don Rundblom (BS
Finance 1976), on "Overview on Commercial Securitization;" Peter Zorn, with an
"Overview on Residential Securitization;" and Greg Cazel (AB Finance
1984), talking about "Current Issues in Commercial Mortgage Securitization."
- Mary Waller, assistant professor of business administration, is a co-principal
investigator on a $460,620 grant from NASA (1998-2000) and PI for a $76,000, one-year
grant from the NRC (Nuclear Regulatory Commission). Both grants are with the University of
Wisconsin where Waller was on the faculty until the beginning of the 1998-99 academic year
when she joined the Illinois faculty.
Intel has made awards of advanced computer equipment to the following Commerce faculty
to support their research efforts:
Louis Chan and Josef Lakonishok, Finance
Roger Koenker, Economics
Larry DeBrock, Economics
Kevin Hallock, Economics
Neil Pearson, Finance
Zvi Ritz, Business Administration, OIM
Michael Shaw, Business Administration
Devanathan Sudharshan, Business Administration