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The Dean’s Perspectiven the fall of 2009, I became interim dean and I accepted the position for several reasons, but one inparticular; the Leeds School was a year into implementing a five-year strategic plan and I wanted to ensure thatwe would not lose momentum for this effort.Why is this strategic plan important? The current economy presents many challenges for us all and this is alsotrue for higher education. It is increasingly important for the Leeds School to develop and implement a plan thatguarantees we will continue to provide quality and affordable education now and in the future. At the sametime, we want to impact the drivers of success for the Leeds School through efforts to: Advance innovation and responsiblebusiness practices through excellencein research and research-basedteaching. Enhance the educational experienceof Leeds Schoool students bydeveloping a culture based on highacademic expectations, studentengagement, and preparedness forsuccess in business. Elevate the quality of the MBAprogram. Strengthen our connectivity and relationships with key external constituents. Increase the Leeds School’s resource base. Raise awareness and knowledge of the Leeds School.As you will see in this annual report, we are working diligently toward achieving all of our key initiatives anddoing so with limited resources compared to our peer schools.Despite these challenges, our faculty continue to infuse the latest information about emerging businessopportunities into the curriculum and invite industry leaders to engage with our students. Our students innovatein areas such as social entrepreneurship and sustainability. For example, they have joined with students in thesciences and in engineering to form clubs and coalitions as they create businesses that are both profitable andsocially conscious as well.And our faculty members also embrace socially conscious business projects. Just this last year, facultyconnected with two aspiring entrepreneurs to help establish new businesses in emerging economies in ThirdWorld countries. For example, Nick Sowden’s (’07 management) company ToughStuff provides affordable,indestructible solar-panels and LED lamps for low-income populations in twenty-seven developing countries.Recently, the University of Colorado Alumni Association recognized Sowden’s efforts with the Kalpana ChawlaOutstanding Recent Graduate Award—this is the first time a Leeds School Alumnus has received this award.I know that overall the goals outlined here are possible for us to achieve. We will approach each effort withthe entrepreneurial spirit and can-do attitude that exemplifies students, faculty, and alumni of the businessschool. I believe that at the Leeds School, we are redefining what business looks like in the 21st century. I lookforward to hearing your thoughts at bizalum.colorado.edu or reading them on my blog at cuboulderblogs.com/deansblog.Best regards,Manuel LagunaInterim Dean1
Leeds SchoolAt a Glancehe Leeds School of Business at the University of Colorado atBoulder offers a rich curriculum with an overarching commitment toentrepreneurship and sustainability education.Our students are continually recognized as innovators bythe business and academic community. For instance, thisyear MBA students won 5,000 at the eighth annual RockyMountain Real Estate Challenge for their plan to re-vitalize theDenver Coliseum site, an undergraduate student won the YouthMentoring Association fashion scholarship for her comprehensiveonline marketing plan and a doctoral student won a prestigiousaward for his algorithm that accelerates the development of newpharmaceutical drugs.The Leeds School curriculum and instruction encourages studentsto think critically, take action and create success for themselves.Upon graduation, our students go on to become entrepreneurs andproductive members of the business community.Our faculty’s award-winning research influences both academiaand the real world. From figuring out how to reduce flight delays atairports, to providing consumers with unbiased knowledge aboutchoosing a home mortgage, or presenting findings to policymakersin Washington, D.C., our research makes a difference.Many of our faculty are experts in their divisions (Accounting,Finance, Management and Entrepreneurship, and Marketing) as2well as in sustainable business practices. Selected faculty researchin sustainability is generously supported by the Mary Vogt, TerryVogt and Daniel Birmann Sustainability Research Fund.Founded in 1906, the Leeds School is one of the oldest businessschools in the United States and has an extensive history ofenhancing the business community by: Providing interns, student consulting teams and businessgraduates to the global business community. Attracting outstanding faculty who create new businessknowledge through research. Offering a two-year evening MBA program specifically designedfor working professionals. Establishing excellence in areas that guide the practice ofbusiness, including entrepreneurship, real estate, socialresponsibility and sustainability. Educating managers and executives through ExecutiveEducation programs.National RecognitionThe Leeds School consistently ranks among the top businessschools in the country. For the 2009-2010 academic year: BusinessWeek ranks the Leeds School of Business as one ofthe top 50 business schools in the nation for its undergraduate
Student Enrollment for 2009-10Total Undergraduate: 3,04117% minority10.5% internationalFull-time MBA: 23831.5% female4% minority10.5% internationalEvening MBA: 11530% female7% minority4% internationalPh.D.: 4333% female42% international specialties. The Leeds School is ranked in the followingcategories: 30th in ethics, 41st in sustainability, 43rd in businesslaw, 46th in financial management and 48th in calculus.U.S. News and World Report ranked the Leeds School’sDeming Center for Entrepreneurship 17th, moving it up threespots from last year for its graduate school entrepreneurshipprogram.U.S. News and World Report ranked the undergraduateprogram 35th nationally among all public and privateuniversities, moving up from 41st last year. Among publicuniversities offering doctoral business degrees, the University ofColorado at Boulder is ranked 22nd.U.S. News and World Report ranked the full-time MBAprogram 71st out of 426, making it in the top 20 percent. Boththe evening MBA and MBA Entrepreneurship programs wereranked in the top 10 percent, at 35th and 26th place.World Resources Institute and the Aspen Institute rankedthe Leeds School 37th in the world for integrating social andenvironmental stewardship into the curriculum in the 2009-10Beyond Grey Pinstripes report. The four areas of curriculumranked the Leeds School 28th in relevant courses, 35th in studentexposure, 32nd in for-profit impact, and 85th in faculty research.Faculty 55 tenure and tenure-track faculty 28 instructors/senior instructorsAcademic Divisions Accounting Finance Management and Entrepreneurship MarketingAreas of Application (Certificates available) Entrepreneurship and Small BusinessManagement International Business Real Estate Operations and Information Management Quantitative FinanceDegreesBachelor of Science (BS)Master of Business Administration (MBA) Full-Time MBA Evening MBA Executive MBA JD/MBA Program with the School of Law MBA/MS in Computer Science MBA/MS in Environmental Studies MBA/MS in Telecommunications with theCollege of Engineering MBA/MA in Fine Arts with the Fine ArtsDepartment MBA/MA in Anthropology with theDepartment of Anthropology MBA/MA in Germanic LanguagesFinancial Accounting (MS ACCT)Accounting with a Tax Emphasis (MS ACTX)Ph.D. in Business Administration (Ph.D. Business)Centers of ExcellenceCenters at the Leeds School of Business serve ascritical links between the business community andfaculty, staff, and students. They facilitate research,projects, internships, and job opportunities toprovide real-world experience for students, andconsulting and staff resources for businesses: Center for Education on Social Responsibility Center for Research on Consumer FinancialDecision Making Business Research Division Richard M. Burridge Center for SecuritiesAnalysis and Valuation Robert H. and Beverly A. Deming Center forEntrepreneurship University of Colorado Real Estate Center andthe Initiative for Sustainable Development3
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“I tell students the first day of classthat they will be challenged becauseI view being challenged as equatedto being respected.”AccountingSTEVEN ROCKAssociate Professor StevenRock’s research examines howfinancial reporting influencespeople and vice versa. Thisresearch is useful for investorsand anyone interested inthe connection betweenaccounting information andstock prices – how incentivesinfluence managers reportingchoices.His research provided moreconvincing evidence thatmanagers report income so asto maximize bonuses. Whenmanager bonus plans haveupper limits and lower limits,they have incentives to reportearning upward into the bonuspayoff range, but downwardif earnings will not reach thepayoff range or are above theupper limit where bonusesOV E RV I E Ware not paid. The incentive to“manage” profit downwardis driven by the desire toincrease prospects of earningbonuses in the future. Rock’srelated work earned a NotableContribution to ManagementAccounting Literature Award.Rock is currently exploringwhy managers use discretionin making inventory writedowns in the semiconductorindustry, where inventoryvalues generally decline.Findings suggest that thereare predictable incomereversals from excessivewrite-downs that the marketdoes not anticipate. Rock’sresearch can help investorsbetter understand this trendand therefore make wiserinvestment decisions.In addition to his research,Rock also is passionate aboutteaching and enjoys sharinghis expertise with LeedsSchool students. He hastaught financial accounting atall levels, and recently taughta large introductory class –Accounting and FinancialAnalysis. “To be effective inbusiness it is necessary thatstudents at all levels havesome fluency in the ‘languageof business’. Gaining thatunderstanding is not alwayseasy and I tell students thefirst day of class that they willbe challenged because I viewbeing challenged as equatedto being respected.”leeds.colorado.edu/rockLeone, A. and S. Rock. 2002. “Empirical Tests ofBudget Ratcheting and its Effect on Managers’Discretionary Accrual Choices,” Journal ofAccounting and Economics, 33-1, 43-67.Every day lenders, managers,investors and tax authoritiesrely on their accountantsto make sound businessdecisions. Accountingfaculty actively contributework that moves the fieldof accounting forward, andtheir award-winning researchregularly appears in topacademic journals like TheJournal of Applied BusinessResearch. Many successfulentrepreneurs credit theirunderstanding of accountingfor their business success.Students within our programare prepared though ouroutstanding curriculumto go on and work for topaccounting firms.leeds.colorado.edu/accounting5
AccountingACADEMIC STAFF 2010Chair and ProfessorFrank SeltoPhD, MBA, Accounting, University of Washington, SeattleMS, Mechanical Engineering, University of UtahBS, Mechanical Engineering, Gonzaga UniversityProfessorPhilip ShanePhD, Business, University of OregonBS, Accountancy, University of IllinoisAssociate ProfessorTom BuchmanPhD, Accounting, University of IllinoisMS, Accounting, University of IllinoisBA, Industrial Administration, University of IllinoisDavid FrederickPhD, Accounting, The University of MichiganBS, Accounting, University of Colorado at BoulderCPA, ColoradoAlan D JagolinzerPhD, Accounting, Pennsylvania State UniversityMS, Business Administration, Syracuse UniversityBS, Distinction in Accounting, Pennsylvania State UniversityBjorn JorgensenPhD, Accounting and Information Systems, Northwestern UniversityMS, Mathematical Economics, University of AarhusSteven RockPhD, Business Administration, Pennsylvania State UniversityMBA, Pennsylvania State UniversityBSBA, Accounting, Shippensburg UniversityCertified Management Accountant (CMA)Certified Internal Auditor (CIA)Naomi SoderstromPhD, Accounting and Information Systems, Northwestern UniversityMS, AIS, Northwestern UniversityBA, Psychology, Reed CollegeAssistant ProfessorHui ChenPhD, Accounting, University of TennesseeMBA, Finance, Stuttgart Institute of Management and Technology6MA, English Literature, Northeast Normal University, ChinaBA, English, Northeast Normal University, ChinaJeff (Zeyun) ChenPhD, Accounting, University of HoustonMBA, University of Louisiana at LafayetteBS, Accounting, Fudan University, Shanghai, ChinaKatherine GunnyPhD, Business, University of California, BerkeleyMS, Agricultural and Resource Economics, University of California, DavisBS, Managerial Economics, University of California, DavisSenior InstructorJay BallantineBS, Economics, Purdue UniversityMBA, Accounting, Indiana UniversityJD, University of ColoradoCathleen BurnsPhD, Business Administration, New Mexico State UniversityMBA, Xavier UniversityBS, Applied Science, Miami UniversityRenee HallPhD, Accounting, Texas A&M UniversityRandy JohnstonMEd, Educational Administration, St. Lawrence UniversityMS, Accounting, Clarkson UniversityBS, Accounting , Clarkson UniversityCMACFMRay MacFeeMBA, Pennsylvania State UniversitySusan MorleyJD, University of Colorado - School of LawMS, Accounting, University of ColoradoBA, Sociology, University of KentuckyInstructorJanet MabonMA, Accountancy, New Mexico State UniversityCertified Public Accountant (CPA)
FACULTY ACHIEVEMENTSConference ProceedingsHonors, Awards, Grants and FellowshipsBallantine, J. Conference chair for the Colorado Society of CertifiedPublic Accountants’ annual Faculty Symposium. Held on CU-Bouldercampus (October 23-24, 2009) for accounting faculty members fromthroughout Colorado and Wyoming.Burns, C. Leeds School of Business Innovating Learning and TeachingGrant Program “Using Jeopardy Games to Engage Students inUnderstanding Business Theory and Research,” 12,000 FrankSelto, Principal Investigator; Burns, Soderstrom and Chen are CoInvestigators.Buchman, T. A., D. Frederick, R. Johnston, R. MacFee., F. Selto, and P.Shane, “Preparing the Accounting Curriculum for IFRS: An Approach.”Presented at the Annual Meeting of the Decision Sciences Institute,November 2009.Buchman, T. A., M. Palmer, and T. Sanders, “Going Concern DebtRatios: An Emperical Test.” Presented at the Annual Meeting of theDecision Sciences Institute, November 2009.Burns, C. North American Case Research Association (NACRA)meeting, Santa Cruz, CA, October 2009 - presented Intertech caseChen, H. Decentralization, Transfer Pricing and Tacit Collusion, withMike Shor, forthcoming, Contemporary Accounting Research. TheRole of Auditing and Internal Controls in Buyer-Supplier Relations,with Debra Jeter, 2008, Journal of Contemporary Accounting andEconomics, 1-18.Frederick, D. “Who IS on First?” NASSM 2009 Annual Conference.Gunny, K., Presented “PCAOB inspection reports and audit quality”at the PAC10 Doctoral Consortium (March 2009) and Presented “Domanagers use meeting analyst forecasts to signal private information?evidence from patent citations” at the American AccountingAssociation Annual Meeting (August 2009).Jorgensen, B. Presented at the 2009 American Accounting AssociationAnnual Meeting.Morley, S. Panel member, The Economic Crisis and You: Views andPerspectives, Boulder Public Library and Guest lecture, Money Sense,American Association of University Women, Boulder Public LibraryFoundation.Shane, P. with B. Jung and Y. Yang. Do Analysts Long-term GrowthForecasts Signal Effective Effort Underlying Informative StockRecommendations and Positive Career Outcomes? Presented at theAnnual Meetings of the American Accounting Association in NewYork City (August 2009) and at the 25th Annual Financial EconomicsAssociation Conference at Rutgers University (November 2009).Shane, P. and M. Yu. International Evidence on the Persistence andPricing of Disaggregated Cash Earnings. Presented by co-author at theAnnual Meetings of the American Accounting Association in New YorkCity, August 2009.Shane, P. with C. Truong. Stock Market Efficiency with Respect to aNew Measure of Earnings News. Presented by co-author at the AnnualMeetings of the American Accounting Association in New York City(August 2009).Soderstrom, N. “Behavioral Changes Following the CollaborativeDevelopment of an Accounting Information System” Accounting,Organizations, and Society.Chen, H. Won 2009 LTE innovation grant award for teamwork indeveloping Jeopardy games for Cost Management course.Chen, Z. Presented Effects of Borrower and Lender Ownership Typeon Accounting Conservatism, 2008, with Hanwen Chen, Gerald J.Lobo and Yanyan Wang at the American Accounting Association AnnualMeeting, New York, 2009.Fredrick, D. Re-appointed: City of Boulder Audit Committee, onlyindependent appointment ever made by the Town Council to thisposition.Johnston, R. PWC Grant to implement IFRS into the accountingcurriculum. 10,000 for Spring 2009.Morley, S. David Clough Faculty Support Award, granted by CUFootball, November 29, 2009.Morley, S. Frascona Teaching Excellence Award.Selto, F., R. Montealegre, and T. Groot. “Management controlof foreign sourcing relationships.” 2007-9. Successful completionof a one-year (extended) grant of 40,000 from the AICPA to fundtravel and related research costs. One of two awarded in nationalcompetition.Selto, F., with D. Frederick. PricewaterhouseCoopers, 50,000 Grantsupported integration of International Financial Reporting Standardsthroughout the accounting curriculum.Shane, P. Outstanding service award for past president of thefinancial accounting and reporting section of the American AccountingAssociation.Soderstrom, N. Innovative Learning and Teaching Grant, Universityof Colorado at Boulder to develop Jeopardy Games to enhancestudent learning in managerial accounting classes, 12,000, Journalof Management Accounting Research Best Paper Award, Universityof North Texas College of Business 2009 Accounting DistinguishedScholar and Instituto de Empresa Outstanding Teacher Award.EditorshipsShane, P. Associate editor of the British Accounting Review andMember of the editorial board of the academic journal, Research inAccounting Regulation.Soderstrom, N. Editorial Board Member of the Journal of Accountingand Public Policy, the European Accounting Review, the InternationalJournal of Managerial and Financial Accounting and the Journal ofManagement Accounting Research.7
“No one governancemeasure can capturethe complexity of how acompany is governed,what a company does.”FinanceSANJAI BHAGATWhether advising Fortune500 companies or usinghis work experience at theU.S. Securities ExchangeCommission to illustrate apoint in class, Professor SanjaiBhagat is easily able to explaincomplicated financial theoriesto students.Throughout his more than 20year teaching career, Bhagathas been recognized forexcellence in education. Hewas the Graduate Professorof the Year and winner ofthe Frascona UndergraduateTeaching Excellence Awardand an Educator of DistinctionAward Finalist.In addition to teachingfinance at the Leeds Schoolof Business, Bhagat is8OV E RV I E Walso connected to thestart-up community inColorado and is the foundingdirector of TiE-Rockies(The Indus Entrepreneurs)– a professional group fortechnology entrepreneurs.His work “The Promise andPerils of Corporate GovernanceIndices,” was recently selectedas one of the “Best Corporateand Securities Articles of2009” by the Vanderbilt LawSchool publication CorporatePractice Commentator.The European CorporateGovernance Institute alsoawarded the article the DeBrauw Blackstone WestbroekLaw Prize for best paper in alaw series.His work shows that corporategovernance indices, whichare designed to measurea firm’s quality and informinvestors, are flawed. Theindices fail to capture thediverse ways governanceoperates. Bhagat served on anexpert panel in Washington,D.C., and answered financialpolicymakers questions onthis topic. He is a soughtafter expert on corporategovernance and financialissues whose work is oftencited in publications such asthe Wall Street Journal, theEconomist, AOL Daily Financeand the New York Times.leeds.colorado.edu/bhagatFinance is essential tobusiness. Finance facultyboast expertise in foundationalconcepts like corporatefinance and macroeconomics,as well as specialized areaslike mergers and acquisitions,derivatives and foreignexchange markets. Studentswithin the program benefitfrom access to the BurridgeCenter for Securities Analysisand Valuation and the CU RealEstate Center. Our curriculumprepares students to succeedin areas such as financialmanagement, businesseconomics and real estate.leeds.colorado.edu/finance
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FinanceACADEMIC STAFF 2010Chair and ProfessorChris LeachPhD, Finance, Cornell UniversityMS, Management Economics, Cornell UniversityMBA, Finance, University of New MexicoBS, Computer Science, Oral Roberts UniversityProfessorSanjai BhagatPhD, Finance, University of WashingtonMBA, Finance, Applied Economics, University of RochesterB Tech, Mechanical Engineering, Indian Institute of Technology – DelhiRonald MelicherDBA, Finance, Washington University, St. Louis, MissouriMBA, Finance, Washington University, St. Louis, MissouriBS, Business Administration, Washington University, St. Louis,MissouriMichael PalmerPhD, Finance, Economics, Social Psychology, and InternationalBusiness, University of WashingtonMS, Finance and Economics, San Diego State UniversityBS, Finance, San Diego State UniversityUniversity of the Americas, Mexico CityMichael Stutzer, Director, Burridge Center for Securities AnalysisPhD, Economics, 1981, University of MinnesotaThomas ThibodeauPhD, Economics, SUNY at Stony BrookMS, Statistics, SUNY at Stony BrookMA, Economics, SUNY at Stony BrookBS, Mathematics – Management Science, University of HartfordJamie ZenderPhD, Economics, Yale UniversityMi Phil, Economics, Yale UniversityMA, Economics, Yale UniversityBA, Economics and Mathematics, University of Colorado10Associate ProfessorNathalie MoyenPhD, Finance, University of British ColumbiaMA, Economics, Queen’s University at KingstonBSc, in Economics, Université de MonctonRichard Wobbekind, Associate Dean for MBA and Executive ProgramsPhD, Economics, University of ColoradoMA, Economics, University of ColoradoBA, Economics, Bucknell UniversityAssistant ProfessorBennett Garland DurhamPhD, Economics, University of North CarolinaMS, Mathematics, University of IllinoisBS, Mathematics, University of KentuckyMatthias KahlPhD, Economics, University of PennsylvaniaMA, Economics, University of PennsylvaniaM Phil, Economics, University of CambridgeMattias NilssonPhD, Finance, Stockholm School of Economics, SwedenMS, Economics and Business, Stockholm School of Economics, SwedenIulian ObrejaPhD, Finance, Carnegie Mellon UniversityMSIA, Finance, Carnegie Mellon UniversityMA, Mathematics, University of RochesterMS, Mathematics, University of Bucharest, RomaniaBA, Mathematics, University of Bucharest, RomaniaLiang PengPhD, Economics, Yale UniversityM Phil., Economics Yale UniversityMA, Economics, Yale UniversityMS, Business Administration, Renmin University, ChinaBS, Applied Mathematics, Renmin University, China
Roberto Benjamin PinheiroPhD, Economics University of PennsylvaniaMA, Economics, Pontifical Catholic University of Rio de JaneiroBA, Economics, University of Sao PauloSenior InstructorMichael David GrossPhD, Finance, University of ColoradoMBA, Finance, Fordham UniversityBA, Finance, New York UniversityThomas NelsonPhD, Business Administration/Finance, University of ColoradoCertified Financial Planner, University of Financial Planning DenverMBA, Business Administration/Finance, University of ColoradoBA, Psychology, University of ColoradoSousan Urroz-KororiDoctorate Level work, Econometrics and Economics ForecastingSchool of Mines, Golden, ColoradoPost Graduate-Doctoral Level Work, Taxation Accounting, University ofColorado, Boulder, ColoradoMBA, Indiana UniversityBA, Tehran College, Tehran, IranInstructorRobert M DonchezMBA, Finance, Fordham UniversityBS, Business and Economics, Lehigh UniversityJoseph Gerald MadiganMBA, Finance, Indiana UniversityBS, Accounting, Indiana UniversityJeff SandriMBA, University of Colorado, BoulderCurtis SearsJD, University of ColoradoBA, Business Administration, Southern Methodist UniversityBridge Program, Association to Advance Collegiate Schools ofBusinessKevin Schaub, CESR LecturerMBA, University of ColoradoBS, Electrical Engineering, University of MichiganFACULTY ACHIEVEMENTSConference ProceedingsBhagat, S. Discussed Michael Weisbach and Benjamin Hermalin’spaper, “Corporate Governance and Transparency” at Yale UniversityLaw & Economics Symposium.Kahl, M. with A. Shivdasani and Y. Wang, “Do Firms UseCommercial Paper to Enhance Financial Flexibility?” presented atthe 2009 Annual Meeting of the American Finance Association, SanFrancisco, January 2009.Moyen, N. “Corporate Cash Savings: Precaution versus Liquidity”presented at the Northern Finance Association meetings, September25-27, 2009.Moyen, N. “Corporate Cash Savings: Precaution versus Liquidity”presented at the University of British Columbia Summer FinanceConference, July 26-28, 2009.Palmer, M. “Going Concern Debt Ratios: An Empirical Test,” withProfessor Thomas Buchman (University of Colorado) presented at the2009 annual Decision Sciences Institute Meetings in November.Honors, Awards, Grants and FellowshipsBhagat, S. Guiney Research Award in 2009 (1 of 2 in Finance Division,1 of 6 in Leeds School).Bhagat, S. with Brian Bolton. “Top 25 Hottest Articles”: CorporateGovernance and Firm Performance, Journal of Corporate Finance,June 2008, V14 N2, p 257-273. Science Direct (Elsevier Press) hasdesignated this one of the “Top 25 Hottest Articles” in Economics,Econometrics and Finance for every quarter through June 2008 June 2009.Bhagat, S. DeBrauw Prize from the European Corporate GovernanceInstitute.Bhagat, S. Leeds Distinguished Service Award, October 2009.Moyen, N. Affiliated Faculty to the Department of AppliedMathematics, 2009-2010.Peng, L. 35,000 grant from the Real Estate Research Institute forthe project “Decomposing and Benchmarking Risk of Real EstateInvestments”.Thibodeau, T. Distinguished Fellow of the NAIOP ResearchFoundation, 2009Urroz-Korori, S. 250,000 grant from the Eurasia Foundation todevelop the Online Women and Entrepreneurship (OWE) program atthe Deming Center at the Leeds School of Business. The site contains17 modules, case studies, student lounge and student forum. All thematerial has been translated in Farsi and hosted 48 students duringspring of 2009.Wobbekind, R. BBVA Compass Bank, “Business Leaders ConfidenceIndex”, ( 15,000 for 2009) annually September 2002 - April 2009Wobbekind, R. Boulder County Business Report, Leading EconomicIndicator Series for Boulder/Broomfield Counties” 2000- June, 2009 4,000 for 2009.Wobbekind, R. Economic Impact Assessment of the Governor’s JobIncentive package March 2009 15,000.EditorshipsBhagat, S. Associate Editor of the Journal of Financial Research andthe Journal of Corporate Finance.Thibodeau, T. Editorial Board Member for the Journal of Real EstateFinance and Economics, the Journal of Housing Economics and RealEstate Economics.11
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“The key is finding a smart way toapproximate decisions today thatwill impact cost in the future.”Management andEntrepreneurshipT H O M A S VO S S E NThomas Vossen is fromthe Netherlands and hasan extensive backgroundin computer science andbusiness. Before joining theLeeds School of Business, heserved in the Royal Dutch Navyas a Systems Analyst for theNaval Intelligence Department.Vossen uses computersimulation and optimizationmodels to figure out practicalsolutions to everyday businessproblems like air traffic delays.“It is fun to really figuresomething out, to understandconnections and how theyimpact each other. There is apuzzle factor to it that makes itinteresting,” he says.His 2006 paper, “Slot TradingOpportunities in CollaborativeGround Delay Programs”,OV E RV I E Wexamined the Federal AviationAdministration (FAA) andairlines system for dealing withdelayed flights. Airlines areoften aware of flight delayshours in advance, so theyground flights rather thancircling a congested airportbecause it is cheaper andsafer. Through the FAA thesegrounded flights may switcharrival time slots. Building off ofthis idea, Vossen developed acomputer optimization model tomaximize on-time performanceof flights and minimizepassenger delays in as fair andequitable way as possible.Currently, Vossen is developingan optimization model for theoperation of a mine. Mineshave very complex productionscheduling problems andmanagers must decide whenand where to dig. “Withthese large scale models thekey is finding a smart way toapproximate decisions todaythat will impact cost in thefuture,” he says.Vossen’s work has everydayapplications. In class studentsuse a Global Supply ChainManagement Simulation tooversee virtual supply chainsof real companies such asMillerCoors or Crocs. Studentslearn quickly how seeminglysmall changes can translateinto monetary savings.Vossen is the recipient of theMBA Educator of DistinctionAward, the MBA TeachingExcellence Award and the KolbTeaching Award.leeds.colorado.edu/vossenAdvances in knowledgeand technology are drivenby business entrepreneursand managers. Our facultyencourage innovation andsuccessful ideas though theirresearch and experiencein and around businesscompetitiveness, start-upcompanies, managementstrategies and more. Thedivision faculty providestudents with the toolsthey will need to participateeffectively in these decisionseven early in their careersin any type of organizations– large and small, public orprivate.leeds.colorado.edu/management13
Management andEntrepreneurship
Master of Business Administration (MBA) Full-Time MBA Evening MBA Executive MBA JD/MBA Program with the School of Law MBA/MS in Computer Science MBA/MS in Environmental Studies . MS, Accounting, Clarkson University. and the . 2009. the . and . State & &
