The kids are out of school for the next several weeks, the heat index is climbing up the charts, and you are ready to get away for some R&R (or maybe a little adventure!) this summer. But, you don’t want to break the bank in the process. Bing Pan, associate professor and head of research in the Office of Tourism Analysis at the College of Charleston School of Business talks to WalletHub about how to get the most bang for your buck this travel season. Read the full article.
Pan’s research interests lie in the uses of information technologies in tourism industry, information systems, online behavior, and consumer behavior in tourism. His research has been published in top-tier journals in the field of hospitality, including International Journal of Hospitality Management, International Journal of Contemporary Hospitality Management and Cornell Hospitality Quarterly.
Ya You, assistant professor of marketing at the School of Business, has won the prestigious Marketing Science Institute (MSI)/H. Paul Root Award for 2015.
The award is given annually by members of the Journal of Marketing editorial board to a paper that has made a significant contribution to the advancement of the practice of marketing. It is cosponsored by the American Marketing Association (AMA) and the MSI.
The Journal of Marketing is the premier, broad-based, scholarly journal of the marketing discipline.
You, along with Gautham G. Vadakkepatt and Amit M. Joshi, received the MSI/H. Paul Root Award for their article “A Meta-Analysis of Electronic Word-of-Mouth Elasticity,” which appeared in the March 2015 (Volume 79, Number 2) issue of Journal of Marketing.
Can Electronic Word-of-Mouth Make or Break Your Business?
In their prize-winning article, You, Vadakkepatt and Joshi examine how electronic word-of-mouth (eWOM), such as blogs, forums, social networking sites and online product reviews, influences product sales.
The researchers used 51 existing studies from marketing, management and information systems to generate hypotheses and generalize the effectiveness of eWOM on product sales. In particular, they compared the effectiveness of eWOM in different platform, product, and industry contexts.
For example, if you are looking to buy consumer electronics or a car, you’ll likely look at customer reviews on a variety of social media platforms. Perhaps not surprisingly, You found that consumers are more likely to trust a third party review site, such as CNET, Epinions and Consumer Reports, than an e-retailer like Amazon to determine how good the product is and to make purchase decisions.
Thus, not all social media platforms are created equal. Managers must decide which social media platforms will be most effective for delivering product information to consumers – and then should maintain and monitor those channels.
And while eWOM has a positive impact on product sales for both durable and non-durable goods, marketers of durable goods get a much bigger lift from positive online word-of-mouth.
Furthermore, managers in industries in which competitive pressures are intense should be wary of relying on eWOM alone for generating sales and rely more on traditional means of advertising and promotion.
“We conducted this research to provide managers at leading industrial companies with recommendations and suggestions for better utilizing electronic word-of-mouth to drive business growth,” said You.
You is the first College of Charleston professor to win the prestigious MSI/H. Paul Root Award. Her research interests focus on online word-of-mouth, social media, and advertising. Her research has been published in Journal of Marketing, and has been covered in Science Daily and Phys.org.
Douglas Walker, professor of economics at the College of Charleston’s School of Business, speaks with WalletHub about the gambling industry and the social and economic problems it can lead to – despite it being a major contributor to the U.S. economy. Read the full story.
Walker’s primary research focus is on the economic and social impacts of legalized gambling, on which he has published more than 50 articles and book chapters. In addition, Walker has published two books, the most recent of which is Casinonomics: The Socioeconomic Impacts of the Casino Industry (2013). Walker teaches microeconomics, the senior research seminar in economics, and a special topics course on the socioeconomics of gambling.
Kelly Shaver, professor of entrepreneurial studies in the School of Business, was awarded the College of Charleston Distinguished Research Award for his significant career of research. Shaver was honored on April 22 at the College’s Celebration of Faculty ceremony in the Stern Center Ballroom with a $1,500 award and a framed certificate.
The Distinguished Research Award was established in 1977 and is awarded to one recipient annually. Shaver is the first School of Business faculty member to receive this prestigious award.
“This is a wonderful honor; one that I hope in the future will be shared by other scholars in the School of Business,” said Shaver.
Recipients of the Distinguished Research Award are chosen based on the body of the nominees’ scholarly and/or creative works within the past few years, and are judged for their quality and significance as well as their quantity.
Shaver’s scholarly research expertise is steeped in topics such as social and cognitive processes in entrepreneurial behavior, and attribution of causality, responsibility and blame. His highly cited work has been supported by the Virginia Center for Innovative Technology, the Ewing Marion Kauffman Foundation, and the Partnerships for Innovation Program at the National Science Foundation.
In addition, Shaver was recently honored by the United States Association of Small Business and Entrepreneurship (USASBE). He was selected as a USASBE Justin G. Longenecker Fellow, a recognition given to “individuals who have made an outstanding contribution to the development, furtherance, and benefit of small and medium businesses.”
Frank Hefner, professor of economics and director of the Office of Economic Analysis at the College of Charleston School of Business, talks with the Orangeburg Times and Democrat about the economic impact of the Lowcountry’s new Volvo plant. Read the full story.
School of Business professor Rene Mueller has been appointed to the South Carolina District Export Council (SCDEC), a role that will allow her to guide businesses in the region in their efforts to export goods and services.
“The South Carolina District Export Council helps South Carolina businesses succeed in the global economy,” said Mueller. “I am thrilled to join other business professionals on the committee to help foster growth.”
Dorette Coetsee, director of Columbia U.S. Export Assistance Center, nominated Mueller for her knowledge of international business, past work with the SC International Trade Coalition and the Brookings Institute Export Initiative, and willingness to dedicate time to the SCDEC.
The District Export Council brings together business leaders from local communities with expertise in international business. The mission is to increase economic growth in the state and create higher-paying jobs. Members hail from across the state and from companies and organizations including the S.C. Department of Commerce, U.S. Small Business Administration, and US Commercial Service. Rene and 30 other council members will mentor business owners, organize educational seminars and raise awareness about export opportunities in the state.
Mueller is a professor of marketing and director of the International Business Program at the School of Business. She also serves as the director of the Global Business Resource Center, which supports continued development of international education opportunities so students may gain the necessary international business skills, cross-cultural experience and foreign language proficiencies needed to compete effectively in today’s globalized economy.
In addition, Mueller is currently helping to lead an initiative between the School of Business, Jewish Studies and the Clinical Biotechnology Research Institute at Roper St. Francis to connect College of Charleston students with Israeli start-ups. Through this initiative, students produce business plans for Israeli businesses to pitch to investors.
Mueller holds a Ph.D. in international marketing, an MBA and B.S. in economics.
He might only be 26, but this School of Business alum is already impacting tax policy on Capitol Hill.
Donald Schneider ’12 is the senior economist for the Committee on Ways and Means at the U.S. House of Representatives. The Ways and Means Committee has a wide jurisdiction encompassing tax policy, international trade, health care, Social Security, and welfare. Schneider advises the Chairman and committee staff on economic issues – and also provides analysis on macroeconomic modeling of fiscal policy, the debt limit and budgetary matters, as well as poverty and income mobility.
And he is getting noticed. Forbes recently named him to its 30 Under 30 list, an annual honor awarded to 600 young entrepreneurs and talent in 20 different sectors. Schneider made the list for law and policy.
“It is amazing to see what our students are capable of achieving after they graduate,” said Peter Calcagno, professor of economics and director of the Center for Public Choice and Market Process. “I had the pleasure of teaching Donald in two of my classes and he was a great student. It has been fun keeping up with him and watching him become an impressive young economist.”
For his part, Schneider credits School of Business professors with fanning his interest in economics. His father introduced him to the field at an early age because he holds a Ph.D. in Economics and spent his career working on policy.
Schneider recalls changing his original plan to major in international business after taking microeconomics with Douglas Walker, professor of economics, his freshman year. That, followed by other coursework, particularly macroeconomic analysis, comparative economic systems, and senior seminar, fueled his interest in policy and the role of empirical research.
Schneider took these skills to graduate school at Johns Hopkins University, where he earned an MA in Applied Economics and went on to work at a think tank and later as an economist at the House Budget Committee for now Speaker Paul Ryan in D.C.
“Donald is a great example of what happens when talent and drive intersect,” said Mark Witte, associate professor of economics, who served as Schneider’s academic advisor and helped guide his graduate study plans. “Seeing him evolve from undergrad, to graduate student, to policy maker reminds all of us about the importance of education’s role in life.”
Research from eight School of Business professors and one School of Sciences and Mathematics professor is being presented at the American Real Estate Society (ARES) annual meeting in Denver from March 29 to April 2, 2016.
The ARES annual meeting is one of the most prestigious real estate conferences, bringing together academic and professional real estate thought leaders from around the world to present new research, discuss current issues, and learn about new trends over a broad spectrum of real estate related topics.
College of Charleston faculty members whose papers will be presented at the meeting include:
- Lynn Hammett, adjunct professor of finance in the School of Business, and Elaine Worzala, executive director of the Carter Real Estate Center and professor of real estate in the School of Business, on “Positive and Negative Impacts of Government Incentive Based Development Programs After a Disaster: Lessons Learned from Florida after the 2004 Hurricane Season;”
- Jocelyn Evans, professor of finance in the School of Business, and Garrett Mitchener, associate professor of mathematics in the School of Sciences and Mathematics, on “An ownership network framework for managers’ accelerated SEO decisions: The importance of connected institutional investors in the real estate industry,” co-authored with Timothy Jones, Xaviar University;
- Christopher Cain, assistant professor of real estate in the School of Business, and Norman Maynard, assistant professor of economics in the School of Business, on “Solving Old Puzzles with New Tricks: Addressing Endogeneity and Nonlinearity in Housing Research,” co-authored with Justin Benefield, Auburn University;
- Christopher Cain, Daniel Huerta, assistant professor of finance in the School of Business, and James Malm, assistant professor of finance in the School of Business, on “Owning Paradise: Living where others vacation when the bubble bursts;” and
- David Wyman, assistant professor of management and marketing in the School of Business, and Christopher Mothorpe, assistant professor of economics in the School of Business, on “The Ultimate View – A Spatial Analysis of Visual Amenities.”
Worzala, Evans, Cain and Wyman will be in attendance at the meeting to present their respective papers.
“The American Real Estate Society is one of the premier real estate associations in the United States, so I am thrilled to have such a strong representation from the College of Charleston School of Business at its annual meeting,” said Worzala, who currently serves as a board member for ARES and has attended the annual conference for more than 25 years. “I look forward to continue building our reputation as a prominent research team in the real estate industry.”
In addition to presenting her research, Worzala will be serving as moderator for a panel entitled, “Issues that Vex and Perplex the Global Valuation Profession.” She will also present on a panel called, “Using Competitions, Technology and Professional Associations in the Classroom,” in which she will discuss relevant learning opportunities available to College of Charleston students, including the annual ARGUS Software University Challenge and Alpha Sigma Gamma, the International Real Estate Honorary Society.
The College of Charleston School of Business is one of only a handful of universities in the U.S. to offer an undergraduate minor in real estate.
More than 300 individuals comprised of real estate thought leaders, researchers and educators from around the world will attend the 32nd annual, five-day conference.
About the Carter Real Estate Center
The College of Charleston School of Business’ Carter Real Estate Center (CREC) brings together students, faculty, and industry leaders including alumni to develop further understanding of real estate knowledge, skills, and trends in the local industry and in targeted regions around the world. The CREC builds relationships with the business community to support our students’ professional development while providing brokers, developers, investors, property owners, and other employers with talented, ready-to-work graduates.
More than 475 College of Charleston students, faculty, staff and members of the business community filed into the Sottile Theatre on March 18 to attend the inaugural Celebrating Women Entrepreneurs Summit. The event was organized in an effort to inspire entrepreneurs and raise awareness of the potential for innovation and economic expansion for women and by women.
The Summit, presented by the School of Business’ Center for Entrepreneurship and the Office of Economic Development, featured a panel of female entrepreneurs who have secured funding, found mentors and cultivated the elements needed to launch and grow their businesses.
“I was thrilled to see the turnout at the Celebrating Women Entrepreneurs,” said Alan T. Shao, dean of the School of Business. “The event was a huge success, spotlighting an impressive lineup of accomplished and creative women entrepreneurs, while providing students with tremendous learning opportunities.”
Amy Love, director of the Office of Innovation at the S.C. Department of Commerce, served as master of ceremonies for the Summit, and Erin Andrew, director of the Office of Women’s Business Ownership at the U.S. Small Business Administration, presented a keynote speech on “Trending Now: Sparking New Opportunities for Women Entrepreneurs.”
“Understand your power. Own your power. Use your power,” said Andrew in her keynote address. “Use the power you have as a woman business owner to help your community.”
A panel of female entrepreneurs spoke on creativity in business, including:
- Jeni Britton Bauer, founder and CEO of Jeni’s Splendid Ice Creams,
- Natalia Castillo, founder and CEO of Escapada Living,
- Carolyn Hunter, president and owner of several South Carolina McDonald’s franchises,
- Krissa Watry, co-founder and CEO of Dynepic, Inc.,
- and Nina Sossamon-Pogue, vice president of media for Benefitfocus.
Anita Zucker, chairperson and CEO of The InterTech Group closed the summit with a keynote speech entitled “Love the Journey,” in which she offered the following advice: “Take a risk and network. Let your passions drive you.”
“It was exciting to hear accomplished entrepreneurs, especially women entrepreneurs, tell their stories and share ideas with others. Their stories, advice, and insight will, no doubt, serve to inspire our students to follow their dreams,” said Bobby Marlowe, senior vice president for economic development at the College of Charleston. “The College of Charleston was honored to be the host of the inaugural Summit and will continue to support and enhance the entrepreneurial ecosystem.”
In addition to the keynote and panel presentations, the Student Entrepreneur of the Year and winner of the Innovator Games were announced at the Summit, and the featured CofC Alumna Entrepreneur Spotlight also took the stage.
Carlie Christenson, sophomore, was honored as the Student Entrepreneur of the Year and awarded $1,000. Christenson is the founder of Boob-eez, an undergarment product that offers an invisible barrier between breasts and clothing.
Senior Grace Neil, computer information systems major, won the Innovator Games – a competition based event by Summit sponsor Think Ideally, intended to inspire and activate innovation for student and community entrepreneurs – and was also awarded $1,000. Neil is currently developing an app called “Hey W8R,” which serves as a tool to get your waiter’s attention when dining out.
Allison Gilmore ’81, co-founder of DuMore Improv, was featured as the CofC Alumna Entrepreneur Spotlight. Gilmore facilitated an improv session in which she advised using a “yes, and…” approach to professional challenges.
The Summit was sponsored by Think Ideally, an organization dedicated to solving problems, facilitating innovation, and cultivating entrepreneurial skills. Additional sponsors for the event included the S.C. Department of Commerce, The McNair Center for Entrepreneurship at Columbia College, Skirt magazine, and the Town of Mount Pleasant.
“There is something about a gathering of strong, spirited women that lights a fire under you, starts conversations and gets ideas flowing that wouldn’t otherwise happen,” said alumna Harriett Lee ’08, entrepreneur and owner of Whisper & Roar.
“The Celebrating Women Entrepreneurs Summit provided exactly this environment for organic networking to happen. I loved hearing all the fearless women sharing their entrepreneurship stories about owning your power, not being afraid to negotiate, and having the gumption to say ‘No, I think you can handle taking the notes’.”
See photos from the Celebrating Women Entrepreneurs Summit here.
Three College of Charleston students have been granted full scholarships and stipends to Hong Kong-based Lingnan University’s Master of Science in Human Resource Management and Organizational Behavior program upon graduation.
The recipients of the scholarships are:
- Eva Ho, double major in international business and accounting, minor in Japanese studies;
- Anna Nooney, double major in hospitality and tourism management and business administration; and
- Vu Tran, double major in international business and supply chain and information management, minor in global logistics and transportation.
The students, all currently seniors, will head to AACSB-accredited Lingnan University in August to begin the year-long program, which provides students with the necessary management competencies to pursue careers in human resource management and leadership.
This is the second consecutive year that College of Charleston School of Business students have received full scholarships to Lingnan University, which includes HK$152,000 for tuition and a stipend of HK$20,000. In August 2015, three College of Charleston graduates joined Lingnan University’s 2015-2016 graduate program.
“I am thrilled that Lingnan University has recognized the quality of our students for two years in a row,” said Y. Henry Xie, associate professor of marketing and international business. “The opportunity to study in the culturally and economically vibrant city of Hong Kong will be a life-changing experience for these students.”
Students completed a challenging application process with a round of preliminary interviews in December 2015 when Nancy Chen, program director of Lingnan University’s MSc in Human Resource Management and Organizational Behavior program, visited the School of Business. A second round of interviews by Skype followed in January.
Lingnan University representatives were impressed with the academic caliber and interview performance of all nine College of Charleston applicants. The University offered a total of four scholarships to schools in the U.S., three of which were granted to College of Charleston business students.
Xie has been a champion of the Lingnan University scholarship program at the College’s School of Business since he guest lectured at the Chinese university during his sabbatical in Spring 2013.