Explore the faculty research, thought leadership, and groundbreaking philosophies that established Michigan Ross as one of the world’s top business schools.
![Venky Nagar](/sites/default/files/styles/max_650x650/public/images/impact_ideas/venky-nagar.jpeg?itok=RB2hXCF4)
No matter the discipline, business research can have a huge impact on diversity, equity, and inclusion. In 2013, Venky Nagar, KPMG Professor of Accounting, along with former Michigan Ross professor Feng Li, published accounting research on U.S. firms initiating same-sex domestic partnership benefit policies.
Li and Nagar’s paper “Diversity and Performance,” published in Management Science, tests if corporate policy supporting LGBTQ+ rights frees all employees to bring their authentic selves to work, thus improving org culture and performance. The paper finds that the nearly 300 firms that adopted these policies between 1990 and 2006 saw significant improvement in operating performance relative to an approximate 10% average stock price increase. If an investor had accordingly timed their purchases of these firms, they would have outperformed ninety-five percent of all U.S. professional mutual funds.
The paper’s reasoning was core to the 2015 Amicus Brief filed in support of legalizing same-sex marriage by the law firm Morgan Lewis on behalf of 379 large and small corporate employers ranging from Apple to Zingerman’s in the landmark Supreme Court case Obergefell v. Hodges.
![Desai logo](/sites/default/files/styles/max_650x650/public/images/impact_ideas/desai_accelerator_logo.jpeg?itok=3RglGsK2)
Launched in 2014 by Michigan Ross and the Zell Lurie Institute for Entrepreneurial Studies, the Desai Accelerator is dedicated to advancing U-M alumni entrepreneurial ventures. The Accelerator provides the physical infrastructure, financial resources, and mentorship to support alumni startups as they reach the critical phase between early-stage development and the point at which they seek external investors.
At Desai Accelerator, startups can access a wide network of experienced advisors, including entrepreneurial mentors, industry experts, venture capitalists, angel investors, and other business leaders. To engage students, Desai offers internships for undergraduates and graduates from all U-M schools and colleges. The Desai Accelerator program runs an annual cohort that supports passionate entrepreneurs as they advance their early-stage ventures. Startups accepted into the program receive funding, tailored mentorship opportunities, national visibility, and other resources to support their success.
The Desai Accelerator has invested more than $1 million in 44 startup ventures on behalf of the University of Michigan and has engaged 75+ student interns. Funding and support for the Accelerator are provided by the Desai Sethi Family Foundation, the William Davidson Foundation, and the Wadhams Family Foundation.
![Academy of Management logo](/sites/default/files/styles/max_650x650/public/images/impact_ideas/Untitled%20design.png?itok=COd_2XO2)
Professor Charles Laselle Jamison, a pioneering figure in the sphere of business management, spent most of his career at the Michigan Business School. Recognizing the importance of the evolving field of management education in 1936, Jamison proposed an organization dedicated to the support of high-quality research, teaching, and practice in the field. His vision led to the official launch of the Academy of Management in 1941. For this instrumental role, he became known as the "Father of the Academy of Management." With the onset of World War II, the Academy's operations were put on hold. However, they were revived in 1947 thanks to Jamison's tireless commitment. Since then, the Academy of Management has become an internationally recognized association for management and organization scholars.
Later in his career, Jamison would cement his legacy as a pioneer in the field of strategic management by publishing his 1953 textbook on business policy. The textbook was one of the first on the subject and showcased his invaluable contribution to the field.
![Paolo Pasquariello](/sites/default/files/styles/max_650x650/public/images/impact_ideas/Paolo%20Pasquariello.jpeg?itok=XhuMCeBK)
Expanding on his dissertation thesis, completed in 2003, Professor Paolo Pasquariello's powerful insight (published in 2007) demonstrates that financial contagion (the spread of a shock from one financial market to many) could occur due to the simple, and highly plausible, heterogeneous private information of speculators about fundamentals. Financial contagion is an increasingly common phenomenon of global concern, especially during financial crises. Importantly, Pasquariello's theoretical multi-market setting rules out all the more complicated explanations of contagion --- usual suspects such as correlated information and/or liquidity and portfolio rebalancing --- while linking it to some of the main features of globalization, the expansion of and access to international financial markets.
![Nejat Seyhun](/sites/default/files/styles/max_650x650/public/images/impact_ideas/nseyhun.jpeg?itok=0eFFHWvT)
In a paper published as a lead article in the Journal of Finance in 1990, Professor Nejat Seyhun investigated whether informed investors stabilize and correct mistakes in security prices by buying undervalued assets and selling overvalued assets or destabilize security prices by jumping into already overpriced securities to create bigger bubbles and mis-valuations first, only to exploit them later. Seyhun's investigation centered on the stock market crash of Oct. 19, 1987, when the stock market crashed by 22% in one day. He found that top corporate insiders bought undervalued stocks and sold overvalued stocks in record quantities immediately following the crash. Hence, informed insiders were stabilizing security prices and not destabilizing them further. This finding provides comfort that the stock market will be self-policing and self-correcting and justifies the current regulatory system, which assumes that more information is beneficial by requiring timely, accurate, and full dissemination of information from all parties involved. Seyhun was among the first to explore various aspects of reported insider trading and its effects on share prices and shareholder wealth.
![wally-hopp](/sites/default/files/styles/max_650x650/public/images/impact_ideas/wally-hopp.jpeg?itok=_ubZLYVJ)
The paper "CONWIP: a pull alternative to kanban" by Professor Wally Hopp and coauthors, published in The International Journal of Production Research in 1990, presents an innovative production control method known as Constant Work-In-Process. CONWIP represents a notable advance over the well-known Kanban approach of the Toyota Production System that outperforms Kanban under a wide range of settings, is more adaptable to variability, and, unlike Kanban, is suited to environments with a large number of products. The path-breaking analysis of this paper spurred a significant stream of research into the performance of pull production systems that continues to this day. CONWIP has also become a standard part of the operations lexicon and has seen widespread application in industrial settings. Finally, CONWIP was an essential building block of the science of manufacturing that Wally and others introduced as Factory Physics in subsequent work.
![Roman Kapuscinski](/sites/default/files/styles/max_650x650/public/images/impact_ideas/Roman%20Kapuscinski.jpeg?itok=XIPynA7h)
The paper "Value of Information in Capacitated Supply Chains" by Professor Roman Kapuscinski and his co-authors was published in Management Science in 1999. This paper contributed significantly to the understanding of how information sharing impacts the performance of supply chains. Specifically, this paper turned on its head the notion that information would be most valuable in settings where capacity is tight, when the uncertainty of demand is huge, and when the costs of unsatisfying demand are very high. The paper uses careful, rigorous analyses to reveal when information is most valuable and how the value depends on many interrelated factors. Providing an innovative analytical model, Kapuscinski and his colleagues demonstrated when and how the sharing of demand information could remarkably enhance inventory management and order fulfillment for capacity-constrained supply chains. The subsequent literature in operations management has heavily referenced this pioneering work, leading to the development of practical strategies for improving supply chain efficiency through information sharing. Further studies have explored different facets of information sharing in diverse supply chain settings and have considered more complex forms of information, extending the paper's impact in many directions within operations.
![Financial hardship - young woman with financial items on table](/sites/default/files/styles/max_650x650/public/images/impact_ideas/financial-hardship.png?itok=l7gkOTbu)
Following the decision of Dobbs v. Jackson Women's Health Organization by the U.S. Supreme Court, abortion restrictions within the United States have proliferated, and it is reasonable to expect that access to abortion services will be even further reduced in the future. The work of Associate Professor Sarah Miller investigates the impact of abortion denial using new linkages between data from the Turnaway Study and administrative records in credit reports. The Turnaway Study was a path-breaking study from the University of California San Francisco that recruited women seeking abortions, some of whom had pregnancies that just exceeded the gestational age limit of the clinic they attended and were denied abortions, others who fell just below this limit and were able to receive the abortion they sought. Miller and her co-authors found that women denied an abortion and those who received an abortion were on similar trajectories before the denial, but those denied an abortion experienced a large spike in financial problems such as unpaid bills and public records (such as bankruptcies and liens). This spike in financial problems persisted for the full six-year follow-up period that the authors had access to. The results provide evidence counter to the narrative that abortion is exclusively harmful to women who receive one (because of, for example, the regret they may feel after receiving an abortion). Instead, it suggests that giving women control over the timing of their reproduction allows them greater financial stability and self-sufficiency.
![MROSS logo](/sites/default/files/styles/max_650x650/public/images/impact_ideas/mross-logo-bug_impact_4.png?itok=Cdm1m1m2)
Professor Dudley Maynard Phelps, who was part of the Michigan Business School faculty from 1924-67, studied and wrote about the distinct marketing environments and challenges in markets as diverse as Latin America, Western Europe, and the former Soviet Union, including work for the U.S. State Department. He received recognition for this work from the International Marketing Institute and was president of the American Marketing Association. In the 1980s, Professor Vern Terpstra continued this work and authored the most widely used text on international marketing and other books on the cultural environment of international business, and also published highly impactful research on country-of-origin effects with his PhD student C. Min Han. Terpstra was president of the Academy of International Business in 1970 and was invited to teach at several universities.
![Emotional Advertising](/themes/custom/ross_theme/images/person.png)
If people don’t pay much attention to the ads when they watch TV, they can’t possibly think a lot about what the ads are saying. How, then, does advertising have the effects on consumer buying that it does? Showing that emotional responses evoked by the ad play an important role was a major research contribution by Rajeev Batra, Michigan Ross marketing professor. Batra came to U-M in 1989 from Columbia University, where he began this research stream. Over 10 years at MichiganRoss, he grew this research stream to show more clearly how these ad-evoked emotions interacted with the ads’ more rational content, what the different types of ad-evoked emotions were and how they could be measured accurately, and how they shaped consumers’ liking for and perceptions about brands. His co-authored papers on these topics have been cited more than 8,000 times, and he has twice been listed among the most influential scholars in the study of advertising. The methods he developed for measuring the types and effectiveness of emotional ads have also been incorporated into copy-testing systems at multiple ad agencies.
![Jane Dutton and Sue Ashford](/sites/default/files/styles/max_650x650/public/images/impact_ideas/jane-sue.jpg?itok=3R5mn-GS)
Management and Organizations professors Sue Ashford and Jane Dutton invented the concept of "issue selling," arguing that most middle managers don’t simply wait for the organization’s strategy to come down from on high but also actively try to influence what that strategy might be. These active middle managers recognize that organizations have limited attentional capacity, and they try to influence what issues get on the organization’s agenda and gain the attention of top decision-makers for issues such as the need to be more ecologically sensitive, the experiences of gender mistreatment and other social issues. In other words, whereas the literature to that point had construed middle managers as passive recipients, these scholars gave them agency and engaged in several studies to better understand how they use that agency to affect bottom-up change. The impact of this idea can be seen in both the popularity of the advice given to middle managers derived from it and in its anticipation of the larger literature on social movements. Social movements were first studied outside of organizations in society, but scholars later proposed that such movements could also occur within organizations, as in issue selling.
![ERB Institute logo](/sites/default/files/styles/max_650x650/public/images/impact_ideas/erb-logo.png?itok=pju3f6Py)
In 2018, Professor Tom Lyon led a team of scholars who published a groundbreaking article about corporate political responsibility titled “CSR Needs CPR” in the California Management Review. The article argued that corporate social responsibility was an insufficient measure of corporate contribution to society and that stakeholders who care about CSR should also pay attention to corporate political responsibility. In 2019, Elizabeth Doty, adjunct faculty at Presidio Graduate School, contacted the Erb Institute at the University of Michigan and suggested turning the article into an industry roundtable dedicated to working with a select group of influential business leaders and their companies to bring to life the core precept of the article – the need to better align companies’ political spending and lobbying with their commitments to values, purpose, sustainability, and stakeholders. Thus, the Erb Corporate Political Responsibility Taskforce was founded in 2020. Lyon and Doty have developed the taskforce into a nationally recognized forum with the goal of making CPR a new norm for business. The taskforce operates under Chatham House Rule and has 20 members from some of the most recognized brands in the United States who share best practices and address CPR challenges. In 2023, the taskforce released the non-partisan Erb Principles for Corporate Political Responsibility, with five major companies as inaugural signatories. Looking ahead, the taskforce will continue building its integrated framework and engage more companies in applying the Erb Principles. Lyon continues his work in this space with his recently published volume Corporate Political Responsibility.
![Aradhna Krishna](/sites/default/files/styles/max_650x650/public/images/impact_ideas/aradhna-krishna.jpg?itok=xnsTrkuU)
Sensory marketing is a relatively new and growing field of marketing that Professor Aradhna Krishna pioneered in the early 2000s. Krishna saw that there were disparate fields of study on senses, but there was no cohesion between these fields. She brought all these sub-fields together under the umbrella of sensory marketing and organized the first conference on it in 2008. She then wrote two books and dozens of scholarly articles on the subject to make the field grow. And the field did grow both in academia and in practice -- enough for Harvard Business Review to do a lead Ideawatch article on it featuring Krishna as the world's foremost expert on the topic. Krishna has defined "sensory marketing" as marketing that engages the consumers' senses and affects their perception, judgment, and behavior. Krishna continues to publish important, scholarly articles on the topic. She also started the Sensory Marketing Lab at Michigan Ross, which attracts PhD students and post-docs from around the world.
![Law of Healthcare Administration cover](/sites/default/files/styles/max_650x650/public/images/impact_ideas/law-of-hc.jpg?itok=4qKdvDEp)
Changes in health care structure following World War II brought the need for increased legislation, regulations, and court oversight to the industry. Professor Arthur Southwick of the Michigan Business School was a leader in developing these diverse sources into a coherent framework that enabled academics, healthcare leaders, and students to understand this emerging area of law.
According to Wharton Professor Arnold Rosoff, Southwick's book, The Law of Hospital and Health Care Administration, first published in 1978, "was a central fixture in the field's literature and the means by which countless numbers of hospital administrators learned about the laws that so significantly defined their field of practice." In this way, Southwick was a thought leader in developing healthcare law. In addition to his intellectual leadership in the healthcare field, Southwick served on the State Health Planning Advisory Council in Michigan and played a key role in founding what has become the 12,500-member American Health Law Association.
![Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships](/sites/default/files/styles/max_650x650/public/images/impact_ideas/twst.jpg?itok=QniebMDI)
In 2008, an article by Michigan Ross Professor Scott Rick changed how academics, practitioners, and the general public thought about consumers’ spending habits. The key insight was that many people who spend very little are frustrated with their behavior. They consistently spend less than they think they should, often with negative consequences for themselves and those around them. Under-spenders (“tightwads”) and over-spenders (“spendthrifts”) are two sides of the same coin: both experience conflict and distress around their spending habits. The scale Rick and colleagues developed to measure these tendencies has become widely used by marketing and psychology researchers. The tightwad-spendthrift construct attracted even more attention when Rick and colleagues demonstrated that tightwads and spendthrifts are more likely to marry one another than they are to marry someone like themselves. This “opposites attract” pattern is initially enjoyable, but eventually, as partners begin to confront a never-ending series of joint spending and saving decisions, tightwad-spendthrift differences harm relationship quality.
This research has attracted broad attention beyond the boundaries of marketing academia. It has been the topic of webinars, podcasts, and other features produced by the National Science Foundation, the American Psychological Association, the National Academy of Sciences, and the World Economic Forum. It has received years of sustained coverage from media outlets such as NPR, the New York Times, and the Wall Street Journal. Financial organizations like the CFP Board, ING, Charles Schwab, and Equifax have informed their clients and customers about the implications of this research. Most notably, in 2024, St. Martin’s Press published a mass-market book about this research, titled Tightwads and Spendthrifts: Navigating the Money Minefield in Real Relationships.
![cindy-schipani](/sites/default/files/styles/max_650x650/public/images/impact_ideas/cindy-schipani.jpeg?itok=yRVGrgav)
In the early 2000s, Professors Tim Fort and Cindy Schipani held the first conference on the role of business in promoting peace. The conference was attended by former Secretary of State Madeline Albright and brought together individuals from academia, business, and government to discuss efforts that could be made to reduce violence in the world. It was concluded that there is a role of business, especially in serving as an unofficial ambassador or role model when conducting business internationally. This event set in motion the beginnings of a new research paradigm on "Peace Through Commerce."