Fordham University Business Fall 2021

Forever Focused on the Future

At the Gabelli School, our mission is inspired by a deep sense of responsibility to build the skills and mindsets to solve some of society’s most pressing problems. We challenge each of our students to look at the world and boldly ask, “How will I help to build a better future?”

The global pandemic and a heightened awareness of systemic inequities have shown us that this work has never been more urgent.

Our fall issue takes a critical look at the kinds of complex societal questions we are trying to answer as a community. “Dollars and Sense” highlights our new Consumer Financial Well-Being Initiative, which we hope will be a collaborative model that cultivates financial literacy in communities across the country. “The High Costs of Healthcare Inequality” explores the COVID-19 health crisis and shines light on two alumni who are seizing opportunities to impact the lives of racial and ethnic minority groups receiving disproportionate healthcare. This feature also examines the economic consequences of the nation’s healthcare disparities which are staggering—amounting to nearly $93 billion in excess medical care costs, according to recent reports.

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Opinions expressed in this publication may not necessarily reflect those of the Fordham University faculty or administration. © 2021, Fordham University Gabelli School of Business

Foundry Invests $35,000 in Fordham Entrepreneurs

A clever idea to develop an app moviegoers can use to find discounted tickets earned one Fordham student $15,000 to grow his venture when he was chosen as the first recipient of the Fordham Foundry’s Angel Fund, a newly established investment fund designed to support student and alumni entrepreneurs.

In March, more than 140 promising entrepreneurs competed for $20,000 in prizes in the Foundry’s Annual Pitch Challenge. It was the highest number of entrants since the competition began in 2017, with applicants representing all of Fordham’s nine schools and colleges.

Executive Director Albert Bartosic, BS ’84, said that the Angel Fund and Pitch Challenge are integral to The Foundry’s mission to support student entrepreneurs beyond the classroom.

PHD PROGRAM CELEBRATES FIRST GRADUATE

“It is easy to see how Joe Micale is a model first graduate of the program,” said Iftekhar Hasan, PhD, University Professor and E. Gerald Corrigan Chair in International Business and Finance and Director of the PhD Program. “I foresee him as a successful researcher and a dedicated academic who will bring Fordham values to educating future generations of university students at prestigious institutions.”

As a doctoral student, Micale completed several academic papers on auditing and accounting regulation, including three that are currently under revision at the Journal of Accounting, Auditing and Finance, Accounting and Business Research, and Accounting Horizons. He decided to pursue a doctorate while he was working as a public accountant at RSM US LLP and chose the Gabelli School’s PhD program over those offered at several other business schools.

FASHION AND THE ESG LANDSCAPE

“In this year alone, global assets under management in the ESG category increased by an astounding 96%,” said Donna Rapaccioli, PhD, dean of the Gabelli School, in her opening remarks at the spring PVH 2021 Market Forces conference. “This unprecedented growth shows that our attitudes toward sustainability are changing more rapidly than we could have imagined.”

Helping First-Year Students Make a Smooth Transition

Burnett shared his perspectives on entering today’s job market with 18 students in a workshop hosted by the Gabelli School’s First-Year Diversity Scholars Program. Now in its second year, the program features workshops, networking events, and pathways toward internship opportunities for high-achieving students who self identify as African American/Black, Hispanic/Latino, and Indigenous People (American Indian and Native Hawaiian).

It’s a Match:
Executive MBA Students Consult with the USTA

This year, the pandemic forced organizers to arrange an equally challenging and meaningful experience virtually. According to Francis Petit, EdD, associate dean and director of the Executive MBA Program, the partnership with the United States Tennis Association (USTA)—made possible with the help of alumnus Joseph Healy, EMBA ’14, the organization’s managing director and corporate controller—was a winning match.

“The USTA is a global organization and premier brand,” Petit said. “It operates one of the four coveted Grand Slams—the U.S. Open—and executes its grassroots strategy in growing the game of tennis nationally.” He added that dialogue between students and senior leaders is vital throughout these projects, but quality time can sometimes be difficult to schedule in person. “Because meetings were held virtually this year, we had even greater access to these wonderful touch points,” Petit said.

Scholars and Practitioners Partner Up

“Ideally, research informs industry practitioners as practitioners inform academic research,” said Barbara Porco, PhD, clinical professor of accounting and taxation and associate dean of graduate studies at the Gabelli School. “Our connections to industry leaders enable our faculty to continue to educate and enrich our students about the most pressing issues facing our society.”

Porco leads the Gabelli Center for Professional Accounting Practices (CPAP), which holds lectures and workshops and offers continuing professional education credits. Recently, CPAP hosted the U.S. Securities and Exchange Commission, U.S. Commodity Futures Trading Commission, and Financial Industry Regulatory Authority. Hundreds of students and alumni attended the event, and leaders from each regulatory organization shared their perspectives on timely topics, including retail investing trends, online investing misinformation, and investing risks.

In October, the Gabelli School offered an Executive Education Program for senior managers at Amazon’s Staten Island Fulfillment Center. The leadership class, led by Professor John Hollwitz, PhD, included a jazz workshop with pianist, composer, and producer Eli Yamin.

“Professor Hollwitz has successfully incorporated a jazz simulation as a method to build high-performance teams,” said Francis Petit, EdD, associate dean of global initiatives and partnerships and director of the Executive MBA program. “Our alumni who work at Amazon who experienced this session as students in the Executive MBA program specifically requested this simulation for their senior management team.”

Meghann Drury-Grogan, PhD, associate professor of communication and media management at the Gabelli School, developed the series to offer students an opportunity to engage directly with global leaders in industries such as healthcare, finance, data security, and government.

“This company affords me the opportunity to sit at these tables,” Whritenour said. “Its mission is about creating a more sustainable, equitable world for the next seven generations. The magic is exploring how we can leverage business—our voices and our data—to prove that addressing big-picture changes we need in society really pays off financially.”

The White House invitation came on the heels of Whritenour’s July appointment to CEO at the Burlington, Vermont-based organization she joined nine years ago. That was when she made the life-changing decision to leave her brand-management post at Colgate Palmolive in New York City and relocate to begin a new chapter with the firm whose socially conscious mission aligns closely with her personal values. Seventh Generation is known for environmentally friendly household products like Free and Clear Baby Wipes and EasyDose™ Ultra-concentrated Laundry Detergent.

“As I step into this job, it’s not about changing or setting a different vision, but about how I can continue to be the steward for the work that we’ve set out over time,” said the New Jersey native, who was recently named among Fortune magazine’s “40 under 40” most influential emerging business leaders. “How are we going to continue to navigate this business and keep the overall mission of the company moving forward?”

Since he graduated from the Gabelli School, Sarkar has rapidly ascended in his career, developing interests in the technology and automotive sectors. After starting his career in investment banking at JPMorgan, he moved to RBC Capital Markets and later helped launch Quantamize, a hedge fund and research company that was acquired by Forbes. Part of his role involved researching the automotive industry and the Chinese auto market in particular, and it was that expertise that made him a natural choice to lead Byton’s strategic investments, M&A, and strategic partnerships globally.

“I thought I could add more value than just building financial models and PowerPoints,” said Sarkar, referring to his move away from investment banking. He proved it: in less than four years, the New Jersey native helped grow the company’s valuation from $790 million to $2.2 billion at one point.

The High Costs of Healthcare Inequality

Statistics compiled by the COVID Tracking Project, for example, showed that Black people were dying at 1.7 times the rate of white people, and a study by the Centers for Disease Control and Prevention found that Latinx, Hispanic, and American Indian or Alaska native people were nearly twice as likely as non-Hispanic white people to seek emergency room care for the disease.

Faculty Research

Svenja Dube, PhD, Assistant Professor of Accounting and Taxation

The aim of the paper, “The Disciplinary Effect of Social Media: Evidence from Firms’ Responses to Glassdoor Reviews,” which Dube co-authored with Chenqi Zhu, PhD, assistant professor of accounting at the University of California Irvine, was to get a read on companies’ initial reactions to candid employee feedback. “All of a sudden, everyone can see what at least one employee thinks about that firm,” Dube said. “We were interested to see if employee disclosure by itself would trigger firms to become better.”

This new column takes a behind-the-scenes look at the people who are the Gabelli School. Every day, they are making invaluable contributions to the future of business education at Fordham University.

The leadership team featured in this issue has the special responsibility of driving the school’s strategy and guiding academic programs, faculty research, fundraising, operations, technology, career development, and global connections.

Greer Jason-DiBartolo, PhD

Associate Dean for Academic Administration and Adjunct Instructor for Leading People and Organizations

“Remaining deeply committed to Fordham’s values and Jesuit pedagogy, I am devoted to the school’s mission to deliver a rigorous, industry relevant, globally oriented, and socially conscious academic experience. I work with the Academic Administration team to ensure excellence through undergraduate curriculum management, graduate admissions, online MS programs, accreditation maintenance, and data analytics. Recently, undergraduate core courses were revised to reflect the school’s ESG and DEI priorities; several master’s programs were updated to ensure industry relevancy; accreditation preparation has been enhanced to heighten faculty visibility; and our graduate admissions approach pivoted to reflect the transition to virtual recruiting.”

The Americans of Urumia:

“It was obvious that the centrally-planned economies where everybody ‘owned’ everything, or effectively, nobody really owned anything, were failing, and there was this gigantic economy-wide, agency problem,” Hovakimian said. “At the same time, the other extreme, where some people own everything and the rest are deprived, seemed unfair, too.”

That contrast, and possible solutions, fascinated her.

While she read every book she could get her hands on about economics, Hovakimian continued pursuing her passion for classical music throughout high school. An accomplished pianist, she said her love of music began early in her childhood- the first time she heard Chopin’s “Waltz in C-Sharp Minor.” “It was poetic, harmonious, melancholic, and intimate,” she said.

On Oct. 27, Joseph M. McShane, S.J., president of Fordham, returned to Fordham University in London for the first time since the global pandemic shuttered all study-abroad programming for the University.

In Spring 2022, more than 400 students—including Gabelli School undergraduates and nearly 100 full-time MBA students—are set to study and do consulting projects in London.