baylor business buzz

Baylor Business Review, Spring 2005

Dedication of the Southwest Securities Financial Markets Center

Baylor University officially dedicated the Southwest securities Financial Markets Center, a world-class investment facility in the Hankamer School of Business, during a ceremony Jan. 12 on the Baylor campus

"This new facility, coupled with the Philip M. Dorr & Alumni Endowed Investment Fund, is a very mission-driven program," Dean Terry Maness said. "Our mission calls for us to engage students in active learning - this program really does that. You can read about it and you can write papers, but until you are actually managing real money and being held accountable for it - there's just no comparison."

Speaker From Federal Reserve Bank Lectures at Business School

On Monday, February 7, Mark Vaughan of the Federal Reserve Bank of Richmond spoke at the Hankamer School of Business on "The Impact of Federal Home Loan Bank Advances on the Bank-Insurance Fund." His lecture was based upon his research findings.

Vaughan's research contributes to both academic studies of deposit-insurance premiums and policy debates over depositinsurance reform. His attempt to answer these questions results in his own model of the impact of the FHLBank advances.

Enactment of Insurance Reform in Texas Good for Consumers

A Baylor University insurance and finance professor says the state of Texas took a "sorely needed step" in the direction of more competitive insurance markets by adopting an alternative rate regulation protocol known as "File and Use" in place of "Prior Approval."

Dr. James R. Garven, The Frank S. Groner Memorial Chair of Finance at Baylor's Hankamer School of Business, says under "Prior Approval," insurance companies had to submit proposed rate changes to the state insurance regulator for formal approval. The new "File and Use" protocol, which was enacted Dec. 1, requires that rate changes be submitted to the state insurance regulator, but they do not require formal regulatory approval.

Former Mafia Boss Speaks About Business Corruption

Former Mafia boss, Michael Franzese, spoke to Baylor University students January 17 and 18 at the Hankamer School of Business. He met with students in Business classes and also the Sports Marketing Club to discuss sports gambling and business corruption.

"Mr. Fanzese' story is powerful and instructive," said Terry Maness, dean. "His insights will be valuable for our students in reinforcing the consequences of unethical behavior in business."

Longenecker Wins Lifetime Achievement Award

Professor Emeritus Justin G. Longenecker was awarded the Max S. Wortman, Jr./United States Association for Small Business and Entrepreneurship (USASBE) Lifetime Achievement Award for Entrepreneurship at the January 2005 National Conference held in Indian Wells, California.

Longenecker, who was Baylor's original holder of the Harry and Hazel Chavanne Chair of Christian Ethics in Business, is an internationally-known expert in the field of entrepreneurship and small business management. He has had an unparalleled lifetime career in academia spanning almost 50 years. He has published in the Journal of Small Business Management, Academy of Management Review, Business Horizons, and the Journal of Business Ethics. He continues to serve as lead author of the textbook Small Business Management: An Entrepreneurship Emphasis currently in its 13th edition; the first edition was published in 1961.

"He has contributed beyond measure to the education of students throughout the world in their study of small business and entrepreneurship," said Bill Petty, Professor of Finance and W.W. Caruth Chair of Entrepreneurship. "His continued passion for entrepreneurship is just as strong at age 87 as it was when he first developed a love for teaching and writing. It can confidently be said that no individual has been more influential in supporting excellence in entrepreneurship than Justin. His name is legendary."

For information on this or other Baylor Business news, go online to: www.baylor.edu/business