Finance

Merck's recent strategy shift starting to pay off said Mahmud Hassan in NJ.com

Date: 
Tuesday, July 29, 2014
Location: 
Newark, NJ

Since Merck’s companywide restructuring last fall that included laying off thousands of workers, closing locations and sharpening its focus on research and development, Chief Executive Kenneth Frazier has maintained the sweeping changes would require time to pay off.

“In the longer term, we see some good things coming up from the research wing through alliances, through small acquisitions,” said Rutgers Business School professor Mahmud Hassan, who follows the pharmaceutical industry. “These will help put off all of Merck’s uncertainties, I hope.”

Merck’s recent strategy shift and drug rollout plans, Hassan said, have renewed his optimism in the company.

“They reorganized, took some bold steps and I think those are now starting to pay off.”

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TAGS: Economics Finance Mahmud Hassan Pharmaceutical Management Research The Blanche and Irwin Lerner Center

Simi Kedia and Xing Zhou quoted in Forbes regarding Moody’s ratings bias toward its two largest shareholders

Date: 
Tuesday, July 29, 2014
Location: 
New York, NY

A new study concludes that Moody’s gave significantly higher ratings on bonds and derivatives issued by companies in the investment portfolios of its two largest shareholders, including Warren Buffett’s Berkshire Hathaway, and took longer to downgrade them than its rival Standard & Poor’s.

The study joins a large body of literature probing the effects of ownership on supposedly objective business decisions, including how managers cater to activist investors who buy large stakes in their companies.

In the study to be presented at the American Accounting Association meeting next week in Atlanta, Shivaram Rajgopal of Emory University’s Goizueta Business School, and coauthors Simi Kedia and Xing Zhou of Rutgers Business School examined Moody’s ratings over the 10 years after it went public on the New York Stock Exchange in 2000. 

Rajgopal said: “there’s a lot of statistical smoke.”

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TAGS: Economics Ethics Finance Simi Kedia Xing Zhou

Rutgers Business School names Morris Davis, Wisconsin professor with expertise in housing macroeconomics to help build new Center for Real Estate Studies reported The Business Journals

Date: 
Tuesday, July 22, 2014
Location: 
Newark, NJ

"I'm very honored and excited to be the first real estate chair at Rutgers," Morris Davis said. "This is an opportunity to build a top real estate program in the middle of some of the top real estate in the world."

The faculty chair was created last year with a $1.5 million commitment from Paul V. Profeta who owns a national real estate investment, management and leasing business that bears his name. Profeta's contribution was matched by an anonymous donor who pledged a total of $27 million to Rutgers University as part of an Endowed Chair Challenge in 2011. The challenge, issued during the "Our Rutgers, Our Future Campaign” was intended to add 18 world class faculty members across the university.

"Professor Davis's appointment advances the stature of Rutgers Business School and will contribute significantly to strengthening the connections between our students and the business community of New Jersey and the metropolitan region," said Glenn Shafer, dean of Rutgers Business School. "We are very grateful to Paul Profeta and our anonymous donor for making this initiative possible."

The endowed chair also was the catalyst for the formation of the Center for Real Estate Studies (or CRES as it is known familiarly) at Rutgers Business School. Ronald Shapiro, a veteran real estate and banking executive, has served as the center's director since last summer.

Shapiro described the appointment of Morris Davis as "a major game changer" as Rutgers Business School continues "to advance and promote real estate as an integral part of its future academic curriculum, executive educational programs, and industry conferences."

Working with Shapiro, Davis will develop an undergraduate and MBA real estate program, forge connections with the industry and work to establish the Rutgers brand for real estate study. "That doesn't happen overnight," Davis said, "but with case competitions, through deep connections with the industry and by creating a pipeline to employment." 

Professor Ivan Brick, who led the search for a professor to fill the Profeta Chair, said the committee believed he was the "perfect candidate" because of his research impact in the field and his administrative experience as the director of the real estate center in Wisconsin.

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TAGS: Center for Real Estate Studies Economics Finance Glenn Shafer Ivan Brick Morris Davis Paul Profeta Real Estate Ronald Shapiro

Times of India quoted Farrokh Langdana regarding the recent collaboration with HR College to deliver its Executive MBA program in Mumbai

Date: 
Monday, July 14, 2014
Location: 
Mumbai, India

Following in the footsteps of several management schools that have partnered with Indian institutes in the recent past to cater to MBA aspirants in the country, the Rutgers Business School (RBS), US, recently collaborated with HR College to deliver its Executive MBA program in Mumbai.

Farrokh Langdana, global director of the EMBA program, says, "With 50% of India's population under the age of 30, there are tremendous opportunities for niche education and skills training for young graduates. There is currently a huge demand for high-potential executives, trained to operate in different cultures, ready innovate and operate in various sectors from finance and marketing to economics and business analytics. Thus, we decided to bring the program to India."

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TAGS: Economics Executive MBA Farrokh Langdana Finance

Financial Alumni Network and faculty pay heart-warming, humorous tribute to finance professor Ivan Brick

Monday, June 23, 2014

Faculty members and former students honored finance professor Ivan Brick during an event on June 19 that also showcased the strength of Rutgers Business School’s alumni network, the Executive MBA program and its ties to financial giants such as Prudential and BNY Mellon.

TAGS: Farrokh Langdana Finance Financial Alumni Network Ivan Brick Networking Thought Leadership

Fox Business includes Professor John Longo's view on Millennial investor needs in Wealthfront story

Date: 
Thursday, June 5, 2014
Location: 
New York, NY

While automated investing startups have recently attracted plenty of venture capital (Wealthfront also raised a $35 million round in April, bringing total funding to $65.5 million), some experts express doubt that passive, automated investing platforms will be able to retain Millennials over the long term.

“To manage your money, you have to have a minimum level of expertise,” said Ravi Jagannathan, a co-director of the Financial Institutions and Markets Research Center at Northwestern University’s Kellogg School of Management.  “[These platforms] are for really busy people who are trying to do things on their own.”

With that in mind, Jagannathan says more sophisticated investors may end up looking for asset-management services that are more hands-on.
“It’s hard to predict where they will go in the future,” he said.

And as Gen Y builds more wealth, it may need other services not currently provided by some of the startups in the field.

“There are some instances where having a human advisor makes sense. Like for high net-worth investors, their financial situation tends to be more complicated. Estate planning-type needs may not be dealt with effectively [by these startups],” said John Longo, clinical associate professor of finance and economics at Rutgers Business School.

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TAGS: Economics Finance John Longo

Rutgers University 248th Anniversary Commencement, May 18, 2014

Thursday, May 22, 2014

The largest graduating class in the history of Rutgers, The State University of New Jersey gathered at Highpoint Solutions Stadium for the 248th Anniversary Commencement, May 18, 2014.  With the establishment of Rutgers Biomedical and Health Sciences, over 16,000 graduates will be awarded degrees this year.

See also:

TAGS: Accounting Commencement Finance Graduation Management and Global Business MBA Rutgers Biomedical and Health Sciences Rutgers Business School Undergraduate New Brunswick Undergraduate Newark

It is very difficult to outperform a benchmark

Date: 
Saturday, May 17, 2014
Location: 
New York, NY

"Investment advisors are realizing that it's very difficult to outperform a benchmark, but they can consistently add value by minimizing taxes," says John Longo, who teaches at Rutgers Business School and is the chief investment officer of MDE Group, an investment advisory firm in Morristown, N.J. "Taxes are the largest transaction costs investors face."

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TAGS: Economics Finance John Longo

Rutgers Business School - New Brunswick Undergraduate Commencement, May 17, 2014

Saturday, May 17, 2014

Excitement was in the air Saturday, May 17 for the Rutgers Business School - New Brunswick 2014 Baccalaureate Convocation.  Graduating seniors, family, and friends were ready to celebrate the graduates' accomplishments, and appreciate the support given that made the day possible.

TAGS: Business Analytics and Information Technology Commencement Finance Graduation James Winder Marty Markowitz Supply Chain Management Undergraduate New Brunswick

Rutgers ranked in the top 15% in the U.S. in return-on-investment by The Economist

Wednesday, April 16, 2014

Research conducted by The Economist looking at the cost and return of a college education in America showed that Rutgers University–New Brunswick had an annual return-on-investment of 11.2% over a 20-year period. This places Rutgers in the top 15% in the U.S. in return-on-investment out of 896 schools.

TAGS: Accounting Business Analytics and Information Technology Finance Management and Global Business Marketing Return on Investment Supply Chain Management Undergraduate New Brunswick

Building business skills: Rutgers Business School undergraduate students participate in an alternative spring break

Thursday, March 27, 2014

At this time every year, millions of students descend upon spring break destinations to enjoy their time off.  Groups of students will go to warm locations, choose a staycation, or do fun things with friends. The primary goal being relaxation and a bit of respite away from a rigorous academic schedule.

TAGS: Career Development Finance LaToya Battle-Brown Rutgers Business School Supply Chain Management Undergraduate Newark

Since the New York Stock Exchange started in 1792, some people have paid extra to be able to get information before other people

Date: 
Wednesday, March 19, 2014
Location: 
New York, NY

Mark Gorton knows what will happen on the day high-frequency traders’ computers get kicked out of the New York Stock Exchange.

“All you’re going to do is have a data center that’s across the street,” said Gorton, founder of the Lime Wire LLC music-sharing service and managing director of Tower Research Capital LLC, one of the most prolific equity traders in America. “Everyone’s going to want to put their computers there.”

“It’s true that grandma is not putting a computer in the data center to execute her orders,” Gorton said. “But when she routes her orders through a brokerage firm, that firm has an order and now actually the computer at the brokerage firm and the computer of the professional traders are on an exact level playing field.”

The playing field wasn’t always so level, said Dan Weaver, a finance professor at Rutgers University.

“Since the New York Stock Exchange started in 1792, some people have paid extra to be able to get information before other people,” Weaver said during an interview yesterday. “Before NYSE went public and trading was done physically, people paid millions of dollars to have a seat on the NYSE so they’d be co-located next to where all the information was occurring: right on the floor at the posts.”

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TAGS: Daniel Weaver Finance Stock Market

Rutgers Finance and Economics Department continues to build network connecting students with alumni, financial professionals

Thursday, February 27, 2014

A financial alumni networking event hosted by Rutgers Business School’s Department of Finance and Economics on Feb. 25 drew a crowd of nearly 90 people to The Lotos Club on Manhattan’s Upper East Side.

TAGS: Alumni Finance Ivan Brick MBA Networking Rutgers Finance Alumni Network Thought Leadership Undergraduate Newark

Upcoming conference: "Governance Issues of Critical Importance to Institutional Investors in 2014"

Date: 
Thursday, February 27, 2014
Location: 
Newark, DE

The John L. Weinberg Center, University of Delaware, will be hosting its 2014 Corporate Governance Symposium, “Governance Issues of Critical Importance to Institutional Investors in 2014."  The Symposium will begin with a panel of institutional investors and will then continue with the presentation of four academic papers on topics that are of critical importance to institutional investors today.

“Philanthropy, Corporate Culture and Misconduct,” by Frederick Bereskin, University of Delaware, Terry Campbell II, University of Delaware, and Simi Kedia, Department of Finance & Economics, Rutgers Business School; discussant, Michelle Lowry, Penn State University, and visiting professor, the Wharton School, University of Pennsylvania.

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Paper Abstracts

TAGS: Finance Simi Kedia

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