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News 2011

Award-winning Research Focuses on Critical Issues in Financial Industry

May 31, 2011

A conference at Indiana State University featured researchers presenting their award-winning papers about "emerging critical issues that affect financial services regulation," a conference official said.

The presenters, who received funding from Networks Financial Institute, spoke at the Financial Services Policy Reform Conference at ISU on May 16. NFI, an institute in the Scott College of Business at Indiana State, awarded funding to the presenters through two programs. The recipients presented their research findings, which was followed by discussion among policy experts and scholars in attendance.

Researchers Joanne W. Hsu, a doctoral candidate at the University of Michigan, and Ishani Tewari, a doctoral candidate at Brown University, were among the eight presenters. The two received Financial Services Dissertation Fellowship awards from NFI to study financial services policy and financial literacy, respectively. They said the fellowships allowed them to focus on their respective research projects while still in graduate school.

Third place winner Irina Telyukova, assistant professor in the department of economics at the University of California, San Diego, presented her paper "Home Equity Withdrawal in Retirement," which she co-authored with Makoto Nakajima.

Contest winner William C. Gerken, assistant professor of finance at Auburn University, presented his paper, "Predicting Fraud by Investment Managers," which he co-wrote with Stephen G. Dimmock. In the research, they analyzed how well Securities and Exchange Commission disclosures can predict fraud. Their analysis found that fraud is "somewhat predictable," Gerken said.

Second place winner Martin Goetz, financial economist for the Federal Reserve Bank of Boston, also presented his paper, "Bank Organization, Market Structure and Risk Taking: Theory and Evidence from U.S. Commercial Banks," during the event. Several honorable mention award recipients presented their research as well.

William Gerkin and Ishani Tewari

William Gerkin and Ishani Tewari

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Four Grads Recognized with Rankin Awards

April 27, 2011

Indiana State University has honored four students with the Rankin Memorial Distinguished Senior Awards in recognition of their efforts to improve campus life.

Named for the university's seventh president, who served from 1965-1975, the Rankin Awards recognize outstanding seniors who have demonstrated dedicated membership and leadership ability in campus organizations and in the community. Recipients must also have a cumulative grade-point average of at least 3.25 on a 4.0 scale.

The 2011 Rankin Award recipients, who will be recognized during ISU's spring commencement May 7, are Heather Marie Bauer of Huntingburg, Elizabeth R. Neeley of Worthington, Anna Smith of Columbus and David Lee Walters of Valparaiso.

David Lee WaltersWalters, an insurance and risk management major and a Gongaware Scholar at Indiana State, was active with the Insurance Honor Corps in the Scott College of Business, served as co-head of the career and professional development team for the Networks Professional Development Program, project leader for the sales career exploration event in the Sales and Negotiations Center, was co-head of industry relations and the Oktoberbest Golf Scramble for Gamma Iota Sigma insurance and risk management fraternity and co-head of philanthropy for the Student Alumni Association. Walters was co-host of the "Sycamore Experience" segment of former ISU basketball coach Kevin McKenna's weekly television show and was active in numerous fraternity events, including Tricycle Derby.

His awards have included the Richard G. Landini and Mark Williams outstanding junior awards, Greek Man of the Year, Mike Blackwell and Indiana Top Scholar scholarships and a two-time recipient of the Networks Financial Institute Scholar of the Year Award. His community involvement has included Haiti relief fundraisers sponsored by Alpha Tau Omega and the Wabash Valley Red Cross, Heart Walk, Ryves Youth Center at Etling Hall, Habitat for Humanity, Vigo County School Corp. Reading Program, Race for the Cure, Gamma Iota Sigma canned food drive and Valentine's Day cards for nursing home residents. Walters has accepted a position with Gibson Insurance Group of South Bend and will serve as a client executive/new business producer with a focus in middle market commercial lines property and casualty insurance.

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Five Grads Receive Hines Medal for Highest GPA

April 26, 2011

Indiana State University has presented the Hines Memorial Medal to five graduating seniors in recognition of their academic accomplishments. Named for Linnaeus Hines, who served as the fourth president of Indiana State from 1921 to 1933, the Hines Medal is awarded to students with the highest cumulative grade-point average during the pursuit of a bachelor's degree at Indiana State. Recipients will be recognized during Indiana State's spring commencement which begins at noon Saturday, May 7.

Kali Rachelle DiethrichAmong the winners is Kali Rachelle Diethrich of Terre Haute who  is completing a double major in insurance and risk management and business administration. Starting this summer, she will be a wholesale broker with All Risks in Phoenix, Ariz.

Diethrich was active in the Networks Professional Development Program in the Scott College of Business, served as president of the Insurance and Risk management Honor Corps, a member of Alpha Lambda Delta and Beta Gamma Sigma, was a student assistant for coordination of the insurance and risk management program's insurance advisory council meetings and was vice president of community service for Gamma Iota Sigma, the insurance fraternity. She received numerous awards, including the Networks, State Farm and Old National Insurance scholarships, Outstanding Operations Student Award, Outstanding Business Statistics Award, Richard G. Landini Outstanding Junior Award and Networks Leadership Award. She was also a Networks Scholar of the Year for three straight years. Her community service include Race for the Cure, Heart Walk, March of Dimes, Ryves Youth Center at Etling Hall, Lighthouse Mission, Valentine's Day cards for nursing homes, Daffodil Day for American Cancer Society, Yellow Ribbons for Soldiers, Relay for Life, Habitat for Humanity and Humane Society.

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Scott College of Business at Indiana State Maintains Prestigious Accreditation

April 20, 2011

The Scott College of Business at Indiana State University has again been recognized as one of the world's premiere business schools.

The Association to Advance Collegiate Schools of Business this month announced that the Scott College has maintained its accreditation. The college is one of less than five percent of the world's business schools to earn the prestigious AACSB-International accreditation, said Dean Nancy Merritt. The ISU business programs first earned the recognition in 1980, and have continuously maintained the accreditation for more than 30 years

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Indiana State Professor, Students to give Presentations at National Business Teacher Education Conferences

April 11, 2011

Several Indiana State University students and a professor will be giving presentations at national business teacher education conferences in New Orleans.

Bill Wilhelm, coordinator and associate professor of business education, information and technology, will give a presentation at the National Association of Business Teacher Education conference. ISU juniors Craig Blair, Tony Stevenson and Alyssa Heavilin and senior Dara Denny will give presentations at the National Pi Omega Pi Conference. The conferences will be conducted simultaneously later this month.

Blair and Stevenson will give a presentation titled "Online banking: Is it for you?" As they created the presentation, they wanted to develop it so that it could be utilized as a lesson plan to teach students, said Blair, a junior business education and physical education double major from Cloverdale, Ind.

Heavilin and Denny will lead the presentation "How can I get a loan to buy a car?" Since Heavilin and Denny are preparing to teach in high school, they created a lesson plan that high school students would find interesting, Wilhelm said.

Craig Blair, Tony Stevenson, Dara Denny, Bill Wilhelm and Alyssa Heavilin

Indiana State University juniors Craig Blair, Tony Stevenson, senior Dara Denny, professor Bill Wilhelm and junior Alyssa Heavilin. The group will give presentations at national business teacher education conferences in New Orleans later this month. The presentations were chosen from competitive pools that included submissions from faculty members and students from other universities.

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New Research Publication from Scott College of Business now Available

March 30, 2011

The inaugural issue of a new research publication from the Scott College of Business at Indiana State University focuses on current topics in financial regulation.

The first edition of "Research@Scott" covers financial services and public policy and features articles from national research fellows of Networks Financial Institute and the Scott College's own faculty members. The publication includes articles analyzing the current environment of the financial services industry - insurance, banking and investments. The lead article is written by James A. Leach, chairman of the National Endowment of the Humanities and a former member of the U.S. House of Representatives. Former Representative Leach is co-author of the Gramm-Leach-Bliley Act, also known as the Financial Services Modernization Act of 1999 that allowed commercial banks, investment banks, securities firms and insurance companies to consolidate.

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Upcoming Conference to Focus on Ethics, Corporate Social Responsibility

March 29, 2011

College students and business professionals will have an opportunity to learn about ethical decision-making and corporate social responsibility during an upcoming conference at Indiana State University.

The sixth annual Ethics and Corporate Social Responsibility Conference will take place April 4. The event will run from 10 a.m. to 3 p.m. in the Hulman Memorial Student Union on campus and includes over 20 concurrent sessions on a variety of topics and several general sessions. The theme of the conference is "Ethics: One Size Fits All?" Conference attendees will learn more about the ethical dilemmas people encounter on a regular basis, said ISU junior Kelsie Noble.

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Two Indiana State University Students Receive Award to Attend Insurance and Risk Management Conference

March 7, 2011

Two Indiana State University students majoring in insurance and risk management won the Anita Benedetti Student Involvement Award to attend an international conference for risk professionals.

Julie Alig, a junior, and senior Beth Book won the award, which includes a trip to the 2011 annual conference by the Risk and Insurance Management Society in Vancouver, British Columbia, from May 1-5. The conference will allow Alig and Book the opportunity to meet other college students interested in insurance, as well as network with insurance industry and corporate risk management professionals.

Alig is expected to graduate in May 2012 with a bachelor's degree in insurance and risk management. She is a member of Gamma Iota Sigma, a professional insurance and risk management and actuarial science fraternity, and has served as the vice president of communications for the group. She is also a member of the Networks Professional Development Program at ISU, and she also has worked as an academic peer advocate. She had an internship last summer at FCCI Insurance Company in Florida.

Book is expected to graduate this May with a bachelor's degree in insurance and risk management, as well as a degree in business management. She is a member of Delta Sigma Pi, and has held the positions of vice president of professional activities, vice president of chapter operations, and she is currently the organization's chancellor. She also has worked as a resident assistant while at Indiana State, and last summer she worked as a commercial lines intern for Kansas City, Mo.-based Lockton Companies, Inc.

Julie Alig and Beth Book

Julie Alig and Beth Book

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Biggert, Reed to Keynote Annual NFI Insurance Summit

March 4, 2011

The chairwoman of a House subcommittee on insurance and a member of the Senate Banking Committee will headline an insurance industry summit examining the effects of the Dodd-Frank Act.

Rep. Judy Biggert, R-Ill., chair of the Subcommittee on Insurance, Housing and Community Opportunity of the House Financial Services Committee, and Sen. Jack Reed, D-R.I., chair of the Subcommittee on Securities, Insurance and Investment, will be among the speakers at the seventh annual Insurance Reform Summit sponsored by Networks Financial Institute at Indiana State University. In addition to Biggert and Reed, the event will feature speeches and panels by many of the biggest names in the insurance industry and academia providing insight about the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act, particularly the forthcoming report to Congress by the new Federal Insurance Office.

Several industry leaders and regulators will speak, including Susan Voss, Iowa Insurance Commissioner and President of the National Association of Insurance Commissioners; Leigh Ann Pusey, President and CEO of the American Insurance Association; Gov. Dirk Kempthorne, President and CEO of American Council of Life Insurers; and John Huff, Missouri Insurance Director and member of the Financial Stability Oversight Council. Researchers including Scott Harrington, the Alan B. Miller Professor in the Wharton School at the University of Pennsylvania and Peter J. Wallison, the Arthur F. Burns Fellow in Financial Policy Studies at the American Enterprise Institute for Public Policy Research, will also present.

The Summit will take place from 8 a.m. to 2 p.m. on March 16 in the Ronald Reagan Building and International Trade Center in Washington, D.C.

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Company Nominated by ISU Senior Receives Finalist Honors

March 2, 2011

A company nominated by an Indiana State University senior received finalist honors for a state award for its internship program.

ISU senior Katie Wheeler nominated Indiana InsuranceTM for the Internship Employer of the Year Award from Indiana INTERNnet, an initiative affiliated with the Indiana Chamber of Commerce, after she interned with the company last summer. Wheeler joined several ISU representatives with Indiana Insurance officials at an Indianapolis luncheon earlier this semester to honor the finalists.

Indiana Insurance works to ensure that the company's internship program provides a meaningful experience to participants, said Hung Nguyen, assistant vice president of Human Resources. The company assigns interns challenging projects that impact the organization while also teaching them more about the insurance industry.

Indiana Insurance has been a tremendous internship provider, said Kathleen Parish, career development specialist with Networks Financial Institute in the Scott College of Business at ISU. At least three Indiana State students have interned with the organization, and company representatives also provided NFI with advice for the Networks Professional Development Program, a four-year curriculum with focused activities designed to cultivate students' professional skills.

Kate Wheeler / Indiana Insurance

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Financial Industry Analyst to Discuss Bankers' Pay Regulation During Visit to ISU

February 14, 2011

David VanHooseA highly regarded banking regulation expert will discuss regulation of bankers' pay during a Feb. 22 event at Indiana State University.

David VanHoose, a senior fellow at Networks Financial Institute (NFI) in the Scott College of Business at ISU, will present "Regulating Bankers' Pay: Is It Fair?" A reception will be at 4 p.m. on Feb. 22, with VanHoose's presentation scheduled for 4:30 p.m. The event will be held in Hulman Memorial Student Union, DEDE II at ISU.

In his presentation, VanHoose will survey evidence regarding the relationship between bank management compensation and risk. He will also discuss the arguments for proposed and actual regulations of bankers' pay, along with the pitfalls associated with such regulations.

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Alumni Association Honors two with GOLD Award

February 14, 2011

The Indiana State University Alumni Association has presented recent graduates Jessica Robertson Benell and Melanie Zeck with the Graduate of the Last Decade Award.

The award recognizes graduates who are outstanding in their professions; have made significant contributions to their communities, states or nation; and have exhibited interest in the university and/or the ISU Alumni Association since leaving the campus.

The 2011 awards were presented Friday (Feb. 11) during a celebration in ISU's Heritage Lounge.

Jessica Robertson BenellOne of the winners was Robertson Benell, deputy commissioner of the Indiana Department of Administration, the latest in a series of state government positions she has held following her 2005 graduation from Indiana State's Scott College of Business with a bachelor of science in finance. She previously served in the strategic sourcing division of the Department of Administration and worked with the Family and Social Services Administration and Department of Child Services. She has also served as a Governor's Fellow.

While a student, Robertson Benell served as treasurer and chief of staff for the Student Government Association and represented the student body on the ISU Board of Trustees during her junior and senior years. She was one of three former student trustees to return to campus in 2007 in support of groundbreaking for the new Student Recreation Center and in recognition of her leadership in helping to make the project a reality.

She was also a member of the Richard G. Lugar Excellence in Public Service Series, class of 2008-09. Her parents and sister are also ISU alumni.

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Scott College of Business Reorganizes, Adds Department

February 10, 2011

A reorganized Scott College of Business at Indiana State University is well-positioned to provide some of the best top quality educational opportunities in the state, ISU officials said in announcing the restructuring.

The academic departments have been revamped to better reflect the opportunities available to students. The college now consists of the department of accounting, finance, insurance and risk management; the department of management, information systems, and business education; and the department of marketing and operations. They replace the college's former analytical and organizational departments.

Dean Nancy Merritt

Dean Nancy Merritt

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Business Analysts Predict Economic Growth in 2011

February 8, 2011

Robert Guell, professor of economics at Indiana State UniversityThe nation's economy is finally growing at a sustainable rate and will begin to slowly add jobs this year, an Indiana State University economist said Tuesday.

Robert Guell, professor of economics, was among several speakers at the Groundhog Day Economic Forecast on campus. The event, which was hosted by the Terre Haute Chamber of Commerce and co-sponsored by Terre Haute Savings Bank and the Scott College of Business at ISU, was catered to business professionals. Several speakers, including Guell, predicted that the economy would continue to grow as the country trudges out of the remains of the Great Recession.

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Indiana State to Offer Professional MBA Program in Hendricks County this Fall

February 7, 2011

A new MBA program in Plainfield from Indiana State University will start accepting applications later this month for its inaugural class this fall.

The professional MBA program gives working professionals the ability to balance the demands of a full-time job, a family and other responsibilities while pursuing a graduate degree in the classroom. Classes will meet weekly for 10-week terms, with three terms in a year. The program, which is tailored to professionals with at least five years of business experience, will take two years for students to complete.

Indiana State University, Plainfield

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Networks Financial Institute at ISU Names Winning Research Papers in National Competition

January 28, 2011

A research paper about detecting investment fraud has won a nationwide contest conducted by Networks Financial Institute (NFI) in the Scott College of Business at Indiana State University.

William Gerken, assistant professor of finance at Auburn University, won first place in the National Competition for Research Papers on Financial Services Policy Reform. Gerken received top honors for "Finding Bernie Madoff: Detecting Fraud by Investment Managers," co-authored with William Dimmock.

Martin Goetz, financial economist for the Federal Reserve Bank of Boston, won second place with his paper, "Bank Organization, Market Structure and Risk Taking: Theory and Evidence from U.S. Commercial Banks."

Irina Telyukova, assistant professor in the department of economics at the University of California, San Diego, won third place for her paper "Home Equity Withdrawal in Retirement," which she co-authored with Makoto Nakajima.

The authors will present their papers at a conference on "Financial Services Policy and Regulatory Reform" at Indiana State on May 16. 

William Gerken, Martin Goetz, and Irinia Telyukova

William Gerken, Martin Goetz, and Irina Telyukova

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"Unbounded Possibilities" Initiative Aims to Advance University's Distinction

January 24, 2011

Constance McLarenIndiana State University has launched an effort to expand its distinctive programs initiative by focusing more on how quality programs, faculty, and staff can work in greater partnership to address societal needs.

Entitled "Unbounded Possibilities," the initiative embraces the need for greater internal collaboration since solutions to society's challenges do not conform nicely to specific disciplines or units, said Josh Powers, special assistant to the provost for academic affairs.

Connie McLaren, professor of operations management and analysis in the Scott College of Business, said collaboration "is exactly what many of our academic professional organizations are encouraging. This process has the potential to transform our experience. It will be fascinating for the campus to exchange ideas as we look for ways to address society's needs." McLaren and Powers served on a faculty-staff committee that developed the initiative.

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Financial Expert to Give Keynote Speech at 2011 Indiana Leadership Economic Forum

January 13, 2011

Christopher WhalenA prominent financial expert affiliated with Indiana State University will deliver the keynote speech at the 2011 Indiana Leadership Economic Forum on Jan. 20.

R. Christopher Whalen, a research fellow with Networks Financial Institute (NFI) in the Scott College of Business at ISU, will speak at the event taking place at Barnes & Thornburg in Indianapolis from 5:30 to 8 p.m. He will discuss issues from his new book, "Inflated: How Money and Debt Built the American Dream," and will describe some changes to monetary, fiscal and trade policy that he believes would help restore balance to the world economy.

The event is being held by the Indiana Leadership Forum, an organization dedicated to attracting individuals to public service and promoting participation in the political process.

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Two Indiana State Professors Receive Grants for Financial Research Projects

January 4, 2011

Networks Financial Institute (NFI) at Indiana State University has awarded two professors in the university's Scott College of Business $30,000 each for their research projects.

NFI awarded the grants to Lakshmi Balasubramanyan, assistant professor of finance, and Aruna Chandra, professor of management at ISU. Both professors are working on separate projects currently underway, said John Tatom, director of research for NFI, an outreach of the Scott College. The projects were chosen among five submissions.

Balasubramanyan is working with Kevin T. Jacques, the Boyndon D. Murch Chair in Finance at Baldwin-Wallace College. They expect to publish two manuscripts that will analyze the design of regulatory capital standards and the existence of regulatory capital arbitrage.

Chandra will work with Biswajit Banerjee, visiting professor of economics and finance at Haverford College and lecturer at the Wharton School, University of Pennsylvania. Their study addresses how microfinance organizations are operated and regulated in the U.S., and will analyze if regulation impacts the governing and ownership of groups in the microfinance business.

Lakshmi Balasubramanyan and Aruna Chandra

Lakshmi Balasubramanyan and Aruna Chandra

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