Corporate Cleanup
Are new corporate accountability measures making a difference or making a mess? Finance faculty and a Wall Street investigative journalist debate their impact.
Faculty and Staff News
Accounting Professor Larry Rittenberg received the Outstanding Educator Award from the Auditing Section of the American Accounting Association.
Real Estate Professor Stephen Malpezzi spoke on “The Supply of Real Estate” as president of the American Real Estate and Urban Economics Association at the Allied Social Science Meetings held in Chicago in January.
Assistant Professor Cynthia Devers, Management and Human Resources, has been named to the Academy of Management Journal’s Editorial Review Board.
Sung Kim, assistant professor in the Department of Operations and Information Management, was named an associate editor of Information Systems Research.
Suzanne Dove was named outreach manager for the business school’s
Center for International Business Education and Research (CIBER). Dove works with a variety of campus departments and the business community.
Jim Woodrum has joined Executive Education as program director of Mid-Management Development programs. Previously, he worked in multiple positions at Hewitt Associates LLC, an international HR outsourcing and consulting firm. As an executive compensation consultant with Hewitt, Woodrum was a board consultant to Fortune 500 companies and a frequent speaker on compensation and governance issues.
Linda Uitvlugt has been named to the new position of director of the Wisconsin Enterprise MBA Programs. (The Evening MBA and the Executive MBA programs of the School of Business).
Assistant Professor Jon Eckhardt, Management and Human Resources, received an Outstanding Reviewer Award from the Journal of Business Venturing.
Real Estate Professor: “Foreign Investors Still Favor U.S.”
The United States remains the preferred country for foreign investors’ real estate dollars, according to a University of Wisconsin-Madison survey of global real estate investors conducted on behalf of the Association of Foreign Investors in Real Estate (AFIRE).
Real Estate Professor François Ortalo-Magné directed the survey.This is the 15th year AFIRE members have been surveyed, but the first time the survey was conducted by the Center for Real Estate (now the Graaskamp Center for Real Estate) at the University of Wisconsin-Madison School of Business.
Survey results attracted scores of articles in international business publications. Collectively, AFIRE members own $601 billion of real estate globally.
The survey found that for the first time since 2001, New York City has emerged as foreign investors’ top U.S. city for their investment dollars.
“Foreign investors wish to invest in U.S. real estate, despite macro uncertainties and competition from U.S. institutional investors,” says Ortalo-Magné.
While the United States remains the preferred global country for foreign investors’ real estate dollars, only 23 percent of respondents say it has the best potential for capital appreciation. India emerged as the country having the second highest potential for real estate capital appreciation, China was ranked third.
Research on Capital Markets Regulation Gains Attention
Research by Hollis Ashbaugh-Skaife, an associate professor with the University of Wisconsin-Madison School of Business, is playing an important role in the debate on the competitiveness of the U.S. capital markets.
Her research study—coauthored with colleagues from the University of Texas at Austin, the University of Iowa and the MIT-Sloan School of Management—scrutinized the effects of strong internal control on firm risk. The study found that firms with strong internal controls have lower market and idiosyncratic risk. The study also concluded that firms that correct their internal control problems, as mandated by the Sarbanes-Oxley Act of 2002, have a reduction in their cost of equity capital by 50 to 150 basis points. The study was cited in the Interim Report by the Committee on Capital Markets Regulation, which explore issues affecting the competitiveness of U.S. Forums. The research has gained other national attention, including being featured in Forbes.com.
Update Magazine June 2007
Feature Stories
Jumping on the Brandwagon:
Why companies are paying handsomely to make sure you see their brands more and more in movies, TV shows, even in the books you read.
Keeping Pay at Bay
Soaring CEO salaries are the target of increasing controversy. Will Congress step in to set limits?
Should it?
Why Don't We Have Better Bosses?
Even with good intentions on both sides, supervisor-employee relations can be fraught. A look at what keeps us from having (and being) better bosses.
Departments
JUNE 2007 VOLUME 25 NUMBER 1
EDITOR: Lari Fanlund
DESIGN: Lori Strelow, Anna Dulmes
EDITORIAL ASSISTANCE: Jennifer Asselin and Scott Voss
EDITORIAL BOARD: Alisa Robertson, Melissa Amos-Landgraf, Tina Frailey, Jim Kubek, Richard Lee, Mark Matosian, Deborah Mitchell, Kayleen Reilly, Steve Schroeder and Charlie Trevor
COVER: Product placement is all around, in places you may or may not expect, and it’s not happening by accident—as Marjani Coffey, a second-year Wisconsin MBA student in Brand and Product Management, helps illustrate.
Cover photo for UPDATE
by Bob Rashid.
UPDATE is published in print and online each June and December by Wisconsin Business Alumni to inform alumni and friends about programs and activities of the University of Wisconsin-Madison School of Business and its alumni. Printing is paid for with private contributions. This issue, and previous ones, are available online. Correspondence should be sent to lfanlund@bus.wisc.edu or mailed to:
UPDATE
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Madison, WI 53706-1323
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