Awards and Honors

Little wonder that a world-renowned faculty should bring home so many honors — from around the country and the world, and also from the University of Illinois itself. Through research, service, publications, and teaching, the distinguished academics who comprise the CBA faculty continue to build respect and renown for our college. What follows is a listing of their major achievements over the past year.

Commerce and Business Administration is also proud to honor its own through two major events held each spring. The Commerce Alumni Association Annual Spring Luncheon, which takes place every April in Chicago, allows alumni and friends of CBA to gather to recognize excellence in teaching, as well as outstanding achievements by our alumni. And on the campus, the Commerce Awards Banquet showcases more than 200 student scholarships and fellowships, as well as numerous teaching and service awards.

Teaching and Service Awards

THE CAMPUS AND COLLEGE-WIDE TEACHING AWARDS ARE THE MOST PRESTIGIOUS GIVEN EACH YEAR.

The Commerce Alumni Association sponsors four Excellence-in-Teaching Awards. Each year the recipients are recognized at the Spring Luncheon in Chicago and at the Commerce Awards Banquet on campus. A generous cash bonus, funded by the Commerce Alumni Association, accompanies these awards. Winners of the college's most prestigious awards are selected by the college Educational Policy Committee after careful review of nominations.
In 1997 the following faculty were recognized.

Jim Gentry accepts the 1997 Graduate Teaching Award.	James A. Gentry, IBE Distinguished Professor of Finance, received the Excellence-in-Teaching Award for Graduate Teaching from the Commerce Alumni Association in May 1997. Gentry also received the award in 1988. An internationally respected authority on finance, Gentry teaches case courses in corporate finance and executive development programs in general management, credit analysis, and bond analysis.
	David Ziebart, accountancy professor, received the Commerce Alumni Association's 1997 Excellence-in-Teaching Award for Undergraduate Teaching. A member of the CBA faculty since 1985, Ziebart teaches courses in financial accounting and financial statement analysis. His research focuses on the application of financial economics methods to investigate financial accounting and reporting issues. He received the Commerce MBA Teaching Award in 1992.
Colleen Houilihan (left) and Wendy Cunningham	Wendy Cunningham, a fifth-year doctoral student in economics, has been recognized for her outstanding undergraduate teaching with three separate awards. Most prestigious is the Harriet and Charles Luckman Undergraduate Distinguished Teaching Award, a campus-wide honor which carries an award of $3,500, as well as a $1,000 raise and $2,000 for purchase of materials and equipment. Cunningham also captured the CBA Excellence-in-Undergraduate-Teaching Award and the econ department's Robert E. Demarest Award. Cunningham earned a B.A. in government economics from Notre Dame and has also studied at the Universidadiberoamericana in Mexico City. Colleen Houlihan, a fourth-year doctoral student in economics, also won both the Excellence-in-Undergraduate-Teaching Award and the Robert E. Demarest Award for 1997. She entered the graduate program in 1993, after earning a B.A. in economics at U of I.

EACH YEAR CBA ALSO RECOGNIZES EXTRAORDINARY SERVICE TO UNDERGRADUATE STUDENTS with the Emerson Cammack Outstanding Service to Undergraduate Students Award. The 1997 winner was Jane Nathan, who directs the CBA Study Abroad Program. This college-wide award was named in honor of the CBA dean who "wrote the book" on service to students.

Ewing Marion Kauffman Foundation Award

The Ewing Marion Kauffman Foundation has made an award of $130,000 to Joseph F. Porac, associate professor of business administration, for the study of entrepreneurship. Third in a series, the six-month grant allows Porac to continue work on building a data base of small, high-profile entrepreneurial companies. Porac explains that the promotion of entrepreneurship is one of the key missions of the Kauffman Foundation, which has established the National Center for Entrepreneurship Research and, with Ernst & Young, co-sponsors the Entrepreneur of the Year Award. Application materials, received from around 1,000 companies vying for the award, are used in building the data base. Porac says this information is, in turn, "made available to academics who might want to do research on high-growth firms." Ultimately, "results are fed back through educational programs to practicing entrepreneurs. The findings are transformed into practical suggestions and reports on the best practices of entrepreneurs." As to the companies in the data base, "some are household names. And some you've never heard of."

OTHER TEACHING AWARDS

• The Department of Accountancy Teaching Award for 1997 was won by Ananda Ganguly, assistant professor.

• The 1997 Commerce Council Outstanding Teaching Awards, chosen by the Commerce Student Body, went to: Ralph Goodwin, accountancy; Forest J. Jourden, business administration; Fred M. Gottheil, economics; and Michael A. Dyer, finance. Graduate teaching assistants who won the awards include: Jan Geht, accountancy; Wade Baughman, business administration; Ihsan Ajwad, economics; and Mark Anderson, finance.

• The Executive MBA Outstanding Teaching Award for 1997 was presented to two Commerce faculty members: Gregory B. Northcraft, professor of business administration, and Tom Linsmeier, assistant professor of accountancy.

• The Executive and Professional Development Award, given annually by the Executive Development Center, went in 1997 to Hun Y. Park, associate professor of finance.

• The Keith E. Sawyer Service Award, recognizing outstanding service and commitment to the Executive MBA program and its students and alumni, went to Hanns-Martin Schoenfeld, H.T. Scovill Professor Emeritus of Accountancy.

• The Economics Graduate Student Organization announced three teaching awards for 1997. Wayne Shafer, Commerce Alumni Professor of Economics, and Anil Bera, professor of economics, both received awards for Best Professor of a Large Class. Roger Koenker, McKinley Professor of Economics, received the award for Best Professor of a Small Class.

• Marjorie Shelley, assistant professor of accountancy, was named recipient of the Excellence in Teaching Award made annually by the St. Louis Accountancy Committee.

GRANTS

• Roger Koenker, McKinley Professor of Economics, received the seventh in a series of grants from the National Science Foundation to support research on quantile regression and other semi-parametric methods in econometrics. The three-year award (1997-2000) is in the amount of $195,109. In 1996, Koenker received a grant of $31,922 from NSF to support equipment acquisition for a new Econometrics Laboratory for graduate students. Koenker has also received recent equipment grants from IBM, Sun, and Intel to support his research and expand the capabilities of the lab.

• Richard Arnould, professor of economics and department head, has been awarded a $125,000 grant from the U.S. Department of Health and Human Services for an eighteen-month national study of hospital mergers. With Gloria Bazzoli (A.B. Economics, 1977), Arnould is studying the extent to which hospital mergers generate efficiencies, as opposed to increasing market power and reducing competition. Arnould says the study will employ data on all hospital mergers that have taken place since 1980.

• Michael Shaw, professor of business administration, and Andrew Bailey, Jr., Ernst & Young Professor of Accountancy, received $75,000 for a project on "Electronic Commerce for Global Web-Based Purchasing Management." The feasibility study focuses on indirect purchasing, a $1 billion annual market. The study is funded by Caterpillar, in partnership with UIUC and the National Center for Super Computing Applications.

• Andrew Bailey, Jr., has also been awarded a $49,500 research grant by the Institute of Internal Auditors Research Foundation to write a monograph, on "The Internet Effect and Business Controls." To be completed by the end of 1998, the monograph focuses on electronic commerce, or EC. According to Bailey, EC is "any electronic communication carried out in support of business initiatives" which "requires a new paradigm for business activities in today's society." Among the issues the study will address are risks of doing business on the 'net, controls, and strategies. Bailey received the award jointly with Andrew B. Whinston and Anatesh Barua, both of the University of Texas at Austin.

• The Coopers & Lybrand Foundation has presented a $66,589 grant to faculty members J. Richard Dietrich, Don Kleinmuntz, and Tom Linsmeier, for a one-year study on faculty consulting and research projects.

• For 1997-98, Kevin Hallock, assistant professor of economics and labor and industrial relations, has received grants totaling more than $57,000 for studies on compensation and incentives. The grants come from the American Compensation Association, the Illinois Center for Human Resource Management, and the United States Department of Labor.

• Michael Pratt, assistant professor of business administration, and Jeffrey Kaufman, visiting lecturer, received an eighteen-month, $13,000 grant from Duke Medical School. The topic of their study is "Multiple Identity Socialization: The Case of Medical Interns & Residents."

• Rachel Yang, assistant professor of business administration, and Abbie Griffin, professor, have been awarded a $9,000 grant from the American Production and Inventory Control Society for a one-year, interdisciplinary study on "Global Supply Chain Design and Management." The grant was one of six awarded through a competition to promote interdisciplinary projects which cross the functional areas of operations management and marketing.

• Ruth King, assistant professor of business administration, has received an $8,000 research grant from Samsung. The award allows her to spend time in Korea, investigating how that country's companies manage technological changes for competitive advantage.

Honors

• Narasimhan Jegadeesh, professor of finance, was named a 1997 Bailey Scholar.

• Don N. Kleinmuntz, associate professor of accountancy, has been named a Fellow in the American Psychological Society.

• Lois J. Meerdink, director of the Commerce Career Services Office, received the 1997 Chancellor's Academic Professional Excellence Award, established in 1989 to acknowledge the important contributions academic professionals make to UIUC.

• Kent Monroe, J.M. Jones Professor of Marketing and head of business administration, and David M. Gardner, professor of business administration, were listed among the ninety best marketing researchers in the Summer 1997 issue of Marketing Educator.

• Elizabeth Moore-Shay, assistant professor of business administration, and Ph.D. student Savitha Venka-tasubramini received two awards for a paper presented in February 1998 at the Winter Educators' Conference of the American Marketing Association. Titled "Meaningful Brands and Meaningless Differentiation: The Role of Brand Equity," the paper was named Best Overall Paper in the Conference, as well as Best Paper in the Consumer Behavior Track.

• The prestigious Dr. Kausch Prize, honoring research and practice in financial and managerial accounting, went in 1996 to Hanns-Martin Schoenfeld, H.T. Scovill Professor Emeritus of Accountancy. He is the first American to receive the award, created in 1984.

• Ira Solomon, KPMG Peat Marwick Professor of Accountancy, was named the 1997 Outstanding Auditing Educator, by the American Accounting Association. The association also recognized Solomon as Chairman of the Outstanding Auditing Dissertation, won by Kathryn Kadous, Ph.D. Accountancy 1997.

• Theodore Sougiannis, assistant professor of accountancy, received the "Best Paper" award, 1994-96, from the Financial Reporting Section of the American Accounting Association, for the paper "The Capitalization, Amortization, and Value Relevance of R&D," co-authored with Baruch Lev. The study was cited in an article on stock prices, which appeared in the February 2 issue of Fortune magazine.

• Howard Thomas, dean of the college and James F. Towey Distinguished Professor of Strategic Management, has been installed as president of the Strategic Management Society. His appointment is effective through the year 2000.

Alumni Awards and Honors

ONE OF THE THINGS THAT MAKES THE UNIVERSITY AND COLLEGE GREAT — ALUMNI.

Alumnus William G. Karnes was awarded an honorary Doctor of Humane Letters at the spring 1997 UIUC graduation ceremonies. Karnes, the retired president and CEO of Beatrice Foods, shared kudos — not to mention the platform — with TV news-woman Diane Sawyer, who was tapped for the commencement address.

A member of the CBA class of 1933, Karnes graduated with honors. After going on to earn a law degree from Northwestern, he joined Beatrice Foods in 1936 and, sixteen years later, became president and CEO of the company. He is famed for his inspired and stupendously successful transformation of Beatrice from a small dairy company into a large international corporation — a transformation accomplished in no small part by expansion through astute and friendly company takeovers. In 1985, the company honored its CEO by endowing Commerce with the William G. Karnes Professorship in Mergers and Acquisitions — a position occupied by Josef Lakonishok, professor of finance. Karnes has served on the boards of several organizations, as well as the board of governors for the Midwest Stock Exchange. An active member of the UI Foundation, he was the first chairman of the CBA Business Advisory Council and has received numerous awards, including the Horatio Alger Award, the University of Illinois Alumni Achievement Award, CBA's Distinguished Commerce Alumnus Award, and the NCCJ Food Industry Award.

EACH YEAR THE OUTSTANDING CAREER ACHIEVEMENTS OF AN ALUMNA/ALUMNUS and one friend of the college, who may or may not be an alum, who has given outstanding service to the alumni association and the college, are recognized by the Commerce Alumni Association at
the Spring Luncheon in Chicago.

	The Distinguished Commerce Alumnus Award for 1997 went to John Brogan (A.B. 1936) in recognition of his full and distinguished career in insurance. Brogan retired as chairman of the Ryan Insurance Group in 1985. He has been long and widely esteemed for his ethics, his ability to work with others, and his expertise in specialized areas of insurance, particularly aviation insurance.
A loyal alumnus with close ties to the college, Brogan has participated in the Emerson Cammack Lecture Series — giving, in 1991, an unforgettable talk on the bankruptcy problems faced by Lloyd's of London. A member of the UI Foundation Board and the Presidents Council, he has, with his wife Eleanor, established a remainder trust to fund an endowed chair in insurance in the Department of Finance. The couple will also make annual gifts to begin funding the chair during their lifetime.
	Wilma Smelcer, MBA 1973, a senior executive with The Private Bank and Bank of America Illinois, received the Commerce Appreciation Award for 1997, for her deep commitment and loyal service to the college. A distinguished advocate of CBA to members of the business community, she belongs to the Commerce Alumni Board, serving as its president from 1979-80. Smelcer joined the CBA Business Advisory Council in 1990 and chaired this group for the 1996-97 year.
She also serves as chair of The Chicago Network (a group of women leaders in that city). She is on the board of the Lincoln Park Zoological Society, and helped found Friends of the Red Cross. She joined Continental Bank in 1973, rising rapidly, even as the institution merged with Bank of America. Today, she manages the personal trust and private banking departments.

STUDENT AWARDS AND HONORS

Jennifer Papp was awarded the Paul M. Green Fellowship for 1997-98. Established in honor of Paul Green, former dean of Commerce, this scholarship is awarded to the incoming MBA student with the highest academic credentials.

Mark J. Killian of Beta Alpha Psi won the President's Award, which recognizes the outstanding leadership ability of a current or immediate past president of a student club.

Troy M. Cardinal of the Finance Club was presented the Student Leadership Award, given to a member of a student organization who has demonstrated outstanding leadership ability through service as an officer, committee chair, or other means.

Nicole L. Young was given the Weinstein Student Leadership in Commerce Award, presented to a student demonstrating outstanding service and leadership in the college and university.

Cathy Y. Chang was awarded the Commerce Alumni Association Scholarship, presented to an outstanding student based on academic merit, extracurricular activities, and community service.

Karie L. Anderson was presented the Alpha Kappa Psi Scholarship Key, given to the graduating CBA senior with the highest grade point average. Mark J. Killian was awarded the Phi Gamma Nu Scholarship Key, presented to the graduating CBA senior with the highest grade point average. Killian's academic achievements also garnered him the Phi Gamma Nu Scholastic Key.

Bronze Tablet 1997 These graduating seniors are in the top three percent of the college. Karie L. Anderson Samantha M. Cohen Cora Marie Gallagher Frannie E. Goldberg Ross David Gordon Andrew R. Grossmann Melinda Ann Guerin Nathan J. Kaufman Mark Joseph Killian Jessica Beth Klapper Tatyana Kovalchuk Eric Thomas Kulesza Brian E. Pasdach Andy Patrick Ramer Teresa A. Schuster Charles T. Tripp, Jr.		A team of Illinois MBA students took second place in the annual Big Ten Case Competition, sponsored by Andersen Consulting and held in mid-January at Ohio State. Pictured front, l-r: Manuel Otero, Jorge Bianchi, Lynnee Jiminez, Jim Gentry (faculty coach). Back, l-r: Joseph Alutto (business dean, OSU), J.C. Thatcher, Steven Louis (Andersen Consulting). Otero also captured the competition trophy for Best Q&A.
		The CBA undergraduate team placed third in the 1997 Arthur Andersen Tax Challenge, bringing home a $5,000 purse from this national accountancy competition. Commerce has sent a winning team to the nationals every year of the competition. Pictured front, l-r: Andrya Meeker, Shannon Dudley, Amanda Skinner, Mary Janus. Back, l-r: Gene Willis and Jon Davis (faculty coaches). Team member Scott Catlett not pictured.