“Rising Star” award for Asst. Prof. Juliana Schroeder

Juliana SchroederAsst. Prof. Juliana Schroeder_headshot, an assistant professor in the Berkeley Haas Management of Organizations Group, has been honored as a Rising Star by the Association for Psychological Science.

The award is presented to “outstanding psychological scientists in the earliest stages of their research careers post-PhD.” It’s based on significant publications and recognitions; work with potentially broad impact; and significant discoveries, methodological innovation, or theoretical contributions.

“I’m very honored to have been recognized with this prestigious award,” said Schroeder, who began at Haas in fall 2015 after earning her PhD in psychology and business from the University of Chicago’s Booth School of Business.

Schroeder’s research on judgment, decision-making, and social cognition offers insights into how people make inferences about others’ mental capacities. One paper found that when people listen to their political opponents’ spoken opinions, they are more receptive—and believe their opponents are smarter—than when they read the very same opinions. The findings underscore the importance of speaking with people who disagree with you.

Another recent series of experiments found that people tend to judge others as less mentally competent than themselves, and consequently less able to take care of themselves. This comes into play in charitable giving, when people choose charities that provide goods and services rather than cash assistance, as well as public policy issues from soda taxes to gun control.

Schroeder’s work has been published in the Journal of Personality and Social PsychologyJournal of Experimental Psychology, and Psychological Science. It has been featured in news outlets such as the The New York Times, The Washington Post, and Newsweek.

Schroeder teaches “Negotiation & Conflict Resolution” in the MBA program and “Research in Micro-Organizational Behavior” in the PhD program. Last fall, she was a Haas “Club 6” member—an honor for faculty who receive high teaching evaluations.


More research by Asst. Prof. Juliana Schroeder:


Donald or Hillary? Why listening to them matters to voters.




Paternalistic aid_Juliana Schroeder researchA handout or a hand up? How we judge others guides how we help others.




13 students named 2017 Finance Fellows

2017 Finance Fellows: (L-R from the top: Lauren Fu, Aaron Nordvik, Jake Wamala, TJ Bakshi, Matt Bond, Vera Liu, Alex Tsai, Melissa Hulme, Steve Keim, Richard Levernier, Dmitriy Berenzon, Dan Clayton. Missing from photo: Maurizio Asperti. Photo: Jim Block)

Before applying to MBA programs, Jake Wamala, MBA 19, had already decided to pivot from private equity to a career as an investment analyst specializing in technology stocks and startups.

Wamala is now making that transition, as one of 13 students awarded a Haas Finance Fellowship for the 2017-18 academic year.

“Business school provides such a great learning opportunity,” he said. “You’re surrounded by new technologies, new businesses, and people with a myriad of backgrounds.”

Finance fellowships are awarded annually to entering MBA students who have shown a commitment to building a career in finance and have a clear roadmap to achieving that goal, says William Rindfuss, executive director of strategic programs for the Berkeley Haas Finance Group.

This year’s fellows, all full-time MBA students, are:

  • Stephen Keim, Xiaoyi (Vera) Liu, and Maurizio Asperti, who are Investment Banking Fellows.
  • Tejbir (TJ) Bakshi, Hsueh Hung (Alex) Tsai, Aaron Nordvik, and Jake Wamala, who are Investment Management and Quantitative Finance Fellows.
  • Dmitriy Berenzon, Xin Lei (Lauren) Fu, Richard Levernier, and Matthew Bond, who are Entrepreneurial Finance Fellows.
  • Melissa Hulme and Daniel Clayton, who were each awarded CJ White fellowships earlier this year.

Fellows should exemplify the core values of Haas and serve as ambassadors to the world of professional finance. Recipients receive a cash award and priority enrollment for finance electives and are paired with a mentor, often a Haas graduate, who works in finance.

For Wamala, working with a mentor, Ted Janus, a principal at J Capital, has already paid off. “My mentor has seen a number of up and down cycles in that industry and has given me valuable insights,” he says.

Becoming a “more well-rounded business person”

Half of this year’s fellows are focused on investment-related careers, a sharp increase from last year. “More students are showing interest in asset allocation as opposed to stock picking,” Rindfuss said.

Melissa Hulme has worked in investment management for six years, and said she is looking forward to continuing a career in the space.

“The majority of my experience to date has been in selecting companies and funds to invest in, but I also really enjoy thinking about how individual companies or funds fit within the context of the broader portfolio.” Hulme said she also wants her work to have a positive social impact. “A big problem is the underfunding of pension funds. I want to help them generate greater returns.”

Hulme has already developed analytical skills; she hopes the MBA program will help her become a more well-rounded business person and build a deeper understanding of strategy, operations, and marketing. “I also want to learn more about leadership and the softer skills,” she says. “I think I can get that and more from this program.”

For the 2017-18 academic year, Haas awarded about $8.7 million total in scholarships and fellowships to entering students in the Full-Time MBA program.

Prof. David Vogel receives career achievement award

Professor Emeritus David Vogel, a member of the Haas Business and Public Policy Group, was honored with the Elinor Ostrom Career Achievement Award in recognition of his lifetime contributions to the study of science, technology, and environmental politics.

David Vogel
Prof. David Vogel

Vogel accepted the award at the annual meeting of the American Political Science Association (APSA) in August.

Vogel, who held the Soloman P. Lee Chair in Business Ethics, is the author of nine books, including the forthcoming California Greenin’: How the Golden State Became an Environmental Leader. He has taught both “Ethics & Responsibility in Business” at Haas and “Public and Private Global Business Regulation” at UC Berkeley.

Vogel’s academic research has tackled subjects ranging from regulating health, safety, and environmental risks in Europe and the United States to global challenges in responsible business to the environmental policy of the United States compared to that of the European Union.

“David is a pioneer,” said Haas Dean Rich Lyons. “Not only was he digging into the fields of corporate social responsibility and ethics long before these areas were mainstream, but he’s also questioned the status quo on these issues at just the right time.”

Vogels heavily-cited work has already earned him the coveted Faculty Pioneer Award from the Aspen Institute, four Best Book Awards, and many other accolades.

“I have devoted much of my academic career to writing about environmental politics in the United States, Europe, and internationally, and this recognition of my work by the political science profession is such a special honor,” Vogel said.

Vogel has been a faculty member at Berkeley’s business school since 1973 and editor of the school’s journal, the California Management Review, since 1982. He is now professor emeritus at both the Haas School and UC Berkeley’s Political Science Department.

Scott Galloway, MBA 92, donates $4.4M for fellowships for students from immigrant families

Scott Galloway, MBA 92, donates $4.4 million for scholarships

Professor of Marketing and entrepreneur Scott Galloway has made a $4.4 million gift to UC Berkeley’s Haas School of Business to fund fellowships for undergraduate and graduate business students.

His gift—the second-largest ever from an MBA alum—will create the Galloway Fellows Fund, aimed at assisting generations of high-achieving business students at Berkeley-Haas who come from immigrant families.

Galloway, MBA 92, said, “As the son of a single immigrant mother, the big hand of government lifted me up. I want to ensure the hand remains extended for the next generation of aspiring business leaders who come from immigrant families.”

“I was a remarkably unremarkable kid,” he said. “Cal made what probably seemed, at the time, like an irrational bet on me. It changed my life.”

The gift was made possible through the sale of one of Galloway’s companies. In 2009, Galloway founded L2, Inc., to benchmark brands’ digital competence. Earlier this year, after L2 was sold to technology research firm Gartner, Galloway fulfilled his Founder’s Pledge, a nonbinding commitment by UC Berkeley entrepreneurs to give back to Berkeley when they attain success. To date, some 265 founders have signed.

“I felt blessed.”

The first four students to receive $50,000 Galloway Fellowships, all first-year MBA students, are Josue Chavarin, Kira Mikityanskaya, Kevin Phan, and Jorge Tellez.

Chavarin, the son of immigrant farm workers who grew up in Salinas, Ca., said he felt blessed when he learned about the new fellowship and decided to apply.

“I never would have thought that a fellowship (created) to empower and acknowledge children of immigrants would be available to me—especially in the political climate we’re in,” said Chavarin, who graduated from UC Berkeley in 2011 with a degree in political science with minors in Spanish literature and education. “Mr. Galloway is a real leader in taking this stance and standing up for immigrants.”

A life-changing gift

Berkeley-Haas Dean Rich Lyons said that Galloway’s gift will be life changing for many students. “Scott’s gift is an outstanding display of generosity that comes at a particularly difficult time for so many immigrant families,” Lyons said. “Scott understands personally what a public university education can do to change the course of students’ lives—and inspire them, in turn, to pay it forward to others.”

Galloway is currently a professor of marketing at New York University’s Stern School of Business and Chairman of L2. He co-founded Prophet Brand Strategy with classmate Ian Chaplin, MBA 92, and helped pioneer the rise of e-commerce when he co-founded Red Envelope, an online specialty gift retailer, in 1997.

“This is a tip of the hat to the generosity and vision of California taxpayers and the UC Regents, respectively,” Galloway said. “I also hope this sends a signal to current and future immigrants that most Americans remember where we came from, and welcome them to the land of opportunity.” Professor Galloway has also announced gifts to UCLA and NYU.

Prof. Patatoukas wins prestigious accounting award

Panos Patatoukas wins prestigious accounting research award.

Assoc. Prof. Panos N. Patatoukas has received the prestigious 2017 Notable Contributions to Accounting Literature Award for his research on the implications of major customer relationships for supplier firm performance and valuation.

The annual accounting award from the American Accounting Association, sponsored by the American Institute of Certified Public Accountants (AICPA), was given for his paper, Customer-Base Concentration: Implications for Firm Performance and Capital Markets. He will be honored August 8 at the American Accounting Association’s annual meeting in San Diego, CA.

For his research, Patatoukas compiled a large sample of business-to-business links along the supply chain.

His paper challenged the conventional view that customer-base concentration—or doing business with only few major customers—impedes supplier-firm performance. The widely-held belief was that major customers pressure their dependent suppliers to provide concessions such as lowering prices, extending trade credit, and carrying extra inventory.

But Patatoukas discovered that while suppliers with a few big customers do report lower gross margins, that negative effect is offset by lower selling expenses and higher inventory turnover rates. He concluded that these operating efficiencies offset weaknesses in dealing with major customers—and found a net positive impact on the supplier’s performance and valuation especially as the major customer relationships mature.

Paper inspires follow-up studies

The paper, which was judged for “originality, breadth of potential interest, soundness of methodology, and potential impact on accounting education,” inspired a series of follow-up studies. It also grabbed interest among academics across disciplines.

“It’s extremely fulfilling to be recognized for creating a new line of interdisciplinary capital markets research that combines elements from accounting, finance, and operations management,” said Patatoukas, who joined the Haas Accounting Group in 2010 after graduating from Yale University. “This research has implications for academics and practitioners alike.”

His previous awards for both research and teaching include the Earl F. Cheit Outstanding Teaching Award (in 2012, 2015, and 2017), the highest teaching award bestowed upon instructors by Berkeley MBA students; the Schwabacher Award, the highest honor for distinction in research and teaching bestowed upon Haas tenure-track professors; and the Hellman Fellows Award, given by the U.C. Berkeley Chancellor for excellence in research.

Patatoukas was also named a top business school professor under the age of 40 by both Poets & Quants and Fortune Magazine.

Prior to arriving at Haas, Patatoukas earned a PhD in accounting and finance from Yale University, plus two master’s degrees in management from Yale, a master’s in accounting and finance from the London School of Economics, and a BA in accounting and finance from Athens University of Economics and Business, where he graduated as valedictorian.

Patatoukas’ areas of research include corporate valuation, financial statement analysis for measuring and forecasting economic activity at the firm level and at the aggregate macroeconomic level, and supply chain management.


Henry Chesbrough Honored for Pioneering Innovation Ideas

Henry Chesbrough, faculty director of the Garwood Center for Corporate Innovation, was honored with a medal from the Industrial Research Institute (IRI) this month for his standout work in innovation management.

Chesbrough, an adjunct professor who is widely recognized as the father of open innovation, accepted the medal at the IRI’s May 10 annual meeting. The IRI, which represents 200 industrial and service companies interested in effectively managing technological innovation, has awarded the medal since 1946 to top leaders in industrial research.

Chesbrough said his own research has benefited greatly from the IRI and close observation of several of its member companies that have implemented open innovation.

The open innovation concept, which Chesbrough introduced in 2003, argues that companies need to tear down the walls between their R&D organizations and outside companies and innovators. Chesbrough believes that businesses cannot afford to rely entirely on their own research, but should instead buy or license R&D processes and inventions such as patents from other companies.

“As the pace of change quickens across industries, organizations are looking at open innovation not just as a tool for solving unique technology challenges, but for expanding it to include a wider variety of participants and making a significant impact on corporate business models,” Chesbrough said.

The recipient of multiple awards for his research, Chesbrough in 2015 was named to the Thinkers50 global ranking of management pioneers. The Thinkers50 global ranking of management thinkers, published every two years, has been described by the Financial Times and others as the “Oscars of management thinking.”