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This past spring semester, students from Dr. Ravi Kathuria's Project Management class participated in real-world projects with non-profit organizations. All five team projects were commended for their hard work, but one garnered the most praise from their client, Jim Carol, CEO of DonateGames.org. Carol, the head of a charitable organization based in Dana Point, needed help with planning and strategy development for his organization’s first annual Mother's Day Game Drive. Proceeds from the sale of used video games collected through this drive support orphan disease research. The project scope and deliverables included: Develop an overall project plan with critical tasks, key personnel needed and timeframe for the Drive; create presentation materials to convince The UPS Store owners to participate in the drive; identify materials for volunteer packets; identify target volunteer networks and provide contact information.
The team included students Katie Irvine, William Halverson, Virgina Halverson and Armen Sarkisian. The latter two members are Chapman employees; Virginia is assistant to the dean of Wilkinson College of Humanities and Social Sciences, and Armen is an admission counselor.
"This team embraced the project wholeheartedly,” Carol said. “[Their] passion resulted in a real-world deliverable that we will use. I have never had a team of students deliver a project so complete that also allows us to put it directly into use in the real world. … They did perfect work.”
Carol has big plans for this project and wants to take it to the national level and garner significant media attention. Though the course is finished, the MBA team has offered continued involvement in the project to help Carol accomplish the remaining goals of DonateGames.
Kathuria believes the class has been a rewarding experience for the MBA students and their clients. Students engage in reality-based education while they apply concepts they learn from class to assist non-profit organizations in more effectively pursuing their mission of helping the disadvantaged.
Recently, on his well-received Comedy Central program The Daily Show, host Jon Stewart made a joke about shows that make stock-market recommendations (such as Mad Money) vs. traditional marketing. Stewart posed the question: “How are these shows different from the infomercial?” Even though the comment was a joke, it turns out that Stewart had pointed to an interesting fact about such television programs.
Ekaterina Karniouchina, assistant professor of marketing at Chapman University, decided to write and publish a paper on this very topic. In fact, her paper was recently accepted by the prestigious Journal of Marketing. In this paper, Karniouchina provides convincing evidence that there are multiple parallels between stock recommendations given to a group of investors that are naïve and traditional advertising. Karniouchina discusses the terms “recency” and “primacy effects” in terms of the naïve investor’s reaction to accept recommendations made on television shows like Mad Money. The evidence shows that investors are more likely to respond to the first and last recommendations in a program segment.
On his show Mad Money, Jim Cramer makes stock-buying recommendations to his viewers. Karniouchina discovered that these recommendations actually cause a sizable next-day price jump of about one-half of a percent in the stock market. However, by day two, after the show has aired, prices start to decline and continue to do so for several days, even falling below the pre-recommendation levels. The show airs after the markets close, so the day-after price jump indicates that naïve investors pick investment opportunities without doing a significant amount of research, since they seem to respond to Mad Money stock recommendations as soon as the markets open on the day following the broadcast (even though Cramer himself warns his viewers against following such a strategy). However, if Kramer’s last recommendation for a particular stock was wrong, the viewers were found less likely to respond to his subsequent recommendations. Karniouchina says this leads her to believe that viewers learn from past mistakes and their trust is quite dependent on the program’s track record.
In the paper, Karniouchina also discusses the role that factors such as information clutter and message length play in determining the size of the abnormal market reaction by the viewing public. It was found that stocks with lower per-share prices have greater abnormal returns following the initial recommendations made by a television program, indicating that naïve investors could be “bargain hunting,” which further demonstrates the irrationality of naïve investor actions.
In contrast, Karniouchina found no evidence of information leakage prior to the show (suggesting that multiple accusations of Cramer sharing the information with Wall Street players are not true). Cramer simply talks about the stocks with positive momentum. In essence, Cramer is the one getting the raw end of the deal because his providing recommendations to a large group of naïve investors can cause a large abnormal reaction that is exploited by the institutional players (whether Cramer wants it to happen or not).
Coverage on Karniouchina’s paper has been included on CNN’s website as well as in the Los Angeles Times and New York Times.
This past January, a group of students guided by Dr. Noel Murray and Dr. Jack Broughton ventured to Argentina and Chile for the MBA program’s BUS 686 travel course. To earn course credit, students maintained a daily journal focusing on the educational outcomes and business insight they gleaned from various facility visits and international residential corporate presentations. Group members Charles Vickery and Chris Helvajian, both in the Integrated MBA program, decided to take their involvement with the project to the next level. Vickery and Helvajian created an interactive daily blog that focused on the overall experience of the class, resulting in a professional online travel journal viewable by the public. On their blog (http://www.travelblog.org/Bloggers/Charles-and-Chris/), readers can skim 10 detailed pages of humorous stories and stunning photos, documenting their various experiences with Argentinean and Chilean culture. Highlights from their blog included the tasting of exotic foods, learning about South America’s regional business climate and even a little bit of opera and tango dancing! The group also met with Argentina’s Chief Economist, Pedro Labasa, toured Google Argentina’s headquarters and visited the German-Argentinean Chamber of Industry and Commerce.
The Leatherby Center for Entrepreneurship and Business Ethics sponsored a global 2010 Innovation and Humanity Summit at Chapman University on Jan. 23, 2010. The Summit represented a collaboration of the brightest entrepreneurial minds in business and academia as well as the non-profit and government sectors. The Summit objective was to teach, guide and embrace one another’s ideas to propel positive social change through innovation. The event featured video interviews, two keynote speakers and breakout sessions that covered topics such as “The Millenials and Why They Are Changing the Ground Rules of Innovation and Humanity,” “How Developing Countries can Help Developed Countries” and “Global Outsourcing & Transforming Lives: Why Business Process Outsourcing is Propelling Social Change.”
Key planners of the all-day event included the Summit Experience Team, a group of undergraduate students including Katie Knoll, Matt O’Leary, Jason De Los Reyes, Rita Rosenberg, Haley Gordan, Manisha Kumar, Suzette Irons, Ryan Yoshida, Alicia Castle and Jaime Glenn. The group was led by Dr. Niklas Myhr, founder Glenn Llopis and P.K. Shukla, Ph.D. The Summit Experience Team created a marketing plan for the Summit which entailed creating and supervising social media sites, attending weekly meetings with Glenn Llopis and the Innovation Humanity Summit Committee and updating and maintaining social media sites for the Summit.
According to Dr. Myhr, who teaches social media marketing and conducts research specializing in social sustainability, the Summit centered on “finding a bigger purpose in business other than a singular focus on profitability. Social sustainability is less of a question about making a profit, but rather finding innovative and cost-effective ways of doing good [for humanity] while also making a profit.”
Founder Glenn Llopis, who was featured in a BusinessWeek article in February 2010, added, “[The Summit successfully taught us] to strive to continually make ourselves relevant and impactful in today’s job market, because if you don’t, the market is going to pass you by. If you’re not growing in today’s job market, you’re essentially dying.” Visit http://www.innovationhumanity.com/ for more information.
Chapman University has been awarded the Freedoms Foundation at Valley Forge’s 2009 George Washington Honor Medal in the schools category. The award honors programs “supporting the American way of life, including patriotism, responsible citizenship, community service and entrepreneurship.” Chapman University received a "Meritorious Awardee" designation; this is the highest award the Freedoms Foundation presents in this category. Of all schools, colleges, and universities nationwide, Chapman University's entry submitted by the Leatherby Center for Entrepreneurship and Business Ethics was the only nomination in the Schools category to receive a "Meritorious Awardee" designation.
 After graduating in the top 5 percent of his class from the University of the Aegean and spending a summer at Harvard University’s Institute for English Language Programs, Fotios Zeritis ‘11, who hails from Athens, Greece, knew that he wanted to pursue an MBA with an emphasis in Finance. When reviewing the qualities of top-notch MBA programs across the country, Zeritis chose Chapman University’s Argyros School of Business and Economics because of its prestige as a small, private university with a prime location in Orange County. Zeritis knew that with a significant amount of California’s wealth in the hands of private investors, Chapman was uniquely positioned to allow him to start connecting with high-net-worth individuals in Orange County as he pursues his longtime goal of becoming a hedge-fund manager.
“I knew I could make more connections through Chapman University than I could at a place like Harvard, because with Southern California’s great weather and active nightlife, it is an ideal place to create dynamic business relationships,” he said.
Zeritis’ ambition, drive and gregarious nature inspire those he meets. As a dedicated student, he also takes his commitment to obtaining a reality-based education to the next level by extracting skills from the classroom and applying them in the real world. When asked to complete a negotiating assignment for Dr. Matthew McCarter’s BUS 604 class, for example, after only five consecutive bartering transactions, Fotios negotiated the value of a small plastic paperclip for that of a weekend ski trip to Aspen, Colo. Fotios said he accomplished his goal by “thinking backwards” so as to pinpoint his final objective first. He also mapped out each of his trades by using tactics derived from the course, such as deadlines in decision making and aligning interests in negotiation. He says that he frequently uses these skills to help him better understand the deeper meaning of new ventures he encounters both inside and outside the classroom.
Fotios strongly believes in leveraging existing resources to help others get to where they need to be. “After all,” he says, “a degree is not a passport. It’s a piece of paper. But that piece of paper will be crucial to helping me network and build up a successful career.”
The Argyros School is extremely proud of our students and would love to hear from you about your goals as well as academic and personal accomplishments. Please contact Erika Mobraaten at mobraate@chapman.edu if you would be interested in sharing your story for The Source.
Chapman always has attracted aspiring entrepreneurs, and on March 11, 2010 The Orange County Register featured one of our current business students at the Argryos School. Sophomore business administration major Matt Kanne was featured for his business plan to open a premiere basketball facility in Orange County. To learn more about Matt and his plan to raise $4 million to build a state-of-the-art basketball facility in central Orange County, read the article at http://www.ocregister.com/articles/kanne-238588-basketball-pelinka.html
Dr. Matthew Carter recently published "Is It Even Worth It? The Effect of Loss Prospects in the Outcome Distribution of a Public Goods Dilemma," in the academic journal Organizational Behavior and Human Decision Processes. The article examines the psychological implications of personal contributions to public campaigns intended to benefit the greater good of society.
McCarter, M, Rockmann, K, & Northcraft, G. (2010). Is it even worth it? the effect of loss prospects in the outcome distribution of a public goods dilemma. Organizational Behavior and Human Decision Processes, 111, 1-12.
Dr. Niklas Myhr will be presenting his latest article “Marketing and Socially Sustainable Supply Chains: The Case of Child Labor” at the 2010 Institute for the Study of Business Markets (ISBM) Academic Conference at Harvard Business School in Boston, MA this summer. The conference will feature presentations from the world’s leading B-to-B researchers and address pressing issues facing B-to-B academic and practitioner communities.
Dr. Lynne Pierson Doti wrote two articles on banking history, both published by the Oklahoma Historical Society in its Encyclopedia of Oklahoma History. The articles are "History of Oklahoma Banking" and "Penn Square Bank.” Dr. Doti also published her most recent book with co-author Larry Schweikart titled American Entrepreneur: The Fascinating Stories of the People Who Defined Business in the United States which First Friday Book Synopsis reviewed as “…the best business book published in 2009.” A Korean edition of American Entrepreneur is scheduled to arrive in stores soon.
Scammon, D, Fuller, A, Karniouchina, K, & Masters, T. (2010). Sport related subculture as a useful basis of market segmentation: insights for ski area managers. In L. Kahle and A. Close (Ed.) Consumer behavior knowledge for effective sports marketing. Routledge/Psychology Press
Publications
- Machan, T. The Promise of Liberty, A Non-Utopian Vision (Lexington Books, 2009)
- Machan, T. (2009). Milton Friedman & the Human Good. Libertarian Papers, 1 (27), Retrieved from http://www.libertarianpapers.org
- Machan, T. Has Capitalism been invalidated?. (2009). Global Business & Economics Review, 11(3/4), 225-33.
- Machan, T. “Stakeholder vs. Shareholder Theory of the Ethics of Corporate Management,” International Journal of Economics and Business Research, Vol. 1, No. 1, 2009
- “Milton Friedman & the Human Good,” Libertarian Papers 1, 27 (2009) ONLINE AT: libertarianpapers.org
- “What Rights Do We Have?” Journal of Value Inquiry, 43, No. 4 (December 2009)
- “Morality and Capitalism--Friends or Foes?” Int. J. Economics and Business Research, Vol. 2, No. 5 (2010): 387-398.
- “Has Capitalism Been Invalidated?” Global Business & Economics Review, Vol. 11, Nos. 3/4, 2009:225-33.
- “Contrarian Reflections on Advertising,” Think 9, #24 (2010)
- “Did Socrates Know Nothing?" Think 25, 9 (Summer 2010)
- “A Problem With Aristotle’s Ethical Essentialism,” Libertarian Papers 2, 10 (2010).
- “Taxation: The ethics of its avoidance or dodging,” Journal of Business Ethics (Special issue Summer 2010)
- “Sen vs. Bauer: On What Do Rights Stand?” Free Inquiry, June/July 2010
Presentations
- NYU Law School, "Contemporary Anti-Natural Rights"
- Cato University, "Rights as Bulwarks Against Tyranny"
- Cato University, "What Rights do We Have?"
 As the Cheverton Award winner, and this year’s ASBE speaker at the 2010 commencement ceremony, Parker Bush was nominated for the Betty Hutton-Williams Award, the most distinguished award in The Argyros School of Business and Economics. Parker received his BA in Economics with a minor in business administration while maintaining a cumulative 3.88 GPA in just three years. Last summer, Parker was selected to join 29 other Mandarin-Chinese speaking students across the country in an exchange program with the U.S. Department of State and Fulbright Scholar program. As the only California representative, Parker’s experience was highlighted by his presentation about international team building at the US Embassy in Beijing to over 200 Chinese citizens. While at Chapman, Parker served on Chancellor Struppa’s Student Advisory Board, represented the University as a Student Ambassador, participated on the mock trial team, and was a voting member of the Campus Peer Conduct Board. Parker currently holds a position at SchoolsFirst Federal Credit Union as a financial analyst where he plays a leading role in developing a new pro forma profitability model for new branches and acquired firms. Parker is pursuing opportunities to enter the world of investment banking, public and private equities, and venture capital upon graduation. Above all, Parker is a big brother to Jenna, a sophomore in high school and a son to Doreen, a non-profit development specialist and recent cancer survivor.
Michael Koll received the Financial Executives International Award. Koll graduated with a 4.0 GPA and dual majored in Accounting and Business Administration with an emphasis in Finance. Koll is the President of the Chapman University Accounting Society and the Professional Development Chair for Alpha Kappa Psi. Michael will be interning this summer in the assurance practice of PriceWaterhouseCoopers' Orange County office. He plans to launch his career in public accounting.
 Tyler Hadzinsky received a Financial Executives International Award. He is currently a junior at Chapman University with a 3.89 GPA and is majoring in Business with a triple emphasis in Entrepreneurship, Finance, and Marketing and a minor in Communications. Tyler is a founding father of the fraternity of Phi Gamma Delta and a brother in the business fraternity Alpha Kappa Psi. Tyler invests much of his time in serving the University as a Chapman Ambassador. Tyler is also very active in Chapman Athletics, where he plays goalkeeper on the Men’s Soccer team and second baseman on the nationally ranked Chapman University baseball team. During his sports career, Tyler was named Division III Soccer Goalkeeper of the Year, three-time ESPN the Magazine Academic All-District Team, West Regional’s MVP and the Division III National Student-Athlete of the Year for 2009. Tyler has plans to intern at Sente Consulting in New York over the summer where he will assist in a project management role, helping with the integration of Barclay’s Capital and Lehman Brothers in the financial derivatives market.
Richard L. Hulsizer Scholarship Award
Dung Bui
Elizabeth Soltow
Dr. Leslie M. Walrath Founder’s Award
Leah Barlet
Katie Ruffalo
Wall Street Journal Student Achievement Award
Johnathan Pollard
Faculty Awards
T.J. Crayne (EMBA)
Zachary Wheatley (MBA)
Faculty Scholarship Award Joseph Gopez
Dean’s Awards
Amy Buchmann
Wolfgang Dorfner
Janelle Kruly
Sally Tran
Daniel Yoder
Luis Villalobos Entrepreneurial Award
Lindsey Carter
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Beatus Mushi, BA Economics ’08, is now in U.S. Army as an SPC. He trained as a combat medic and is stationed in Colorado with his unit. He can be reached at mushi100@chapman.edu
Kara Mackie ’07 started work at Bank of America as a financial analyst. She reports to fellow alumna Diane Uehlinger ’80. She can be reached at karalynn22@mac.com.
Kelly Derrig, BS Business Administration ’03, is working at PIMCO along with fellow alumni Ryan Lecznar ’08, Victor Cabral ’04, Alyssa Soto ’03, Henrik Larsen ’95 and Ignacio Galaz ’99. She got married this past February and will be heading to Columbia University to pursue an MBA degree next fall. She can be reached at Kelly.derrig@pimco.com.
The Argyros School is extremely proud of our graduates, and we would love to hear from alumni about personal and professional developments. Please contact Erika Mobraaten at mobraate@chapman.edu with updates.
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