Wednesday, July 29, 2015

Coming Soon to Hodge Hall: Renovated Hall of Honor with Student Seating Area

The Hall of Honor will be transformed into a more useful space by the time students return for the fall semester in August. (Architectural rendering from BSA LifeStructures)
May: The Hall of Honor is deconstructed and fitted
with studs for new walls.
(Photos by Max Tortoriello/Kelley School)
Summer at Kelley means the construction dial is set on maximum for the Hodge Hall Undergraduate Center renovation.

The rattle and hum is concentrated in and around the four-story center section of the undergraduate building that includes the Hall of Honor on the second floor and several faculty and staff offices on the third and fourth floors.

Pipes are arranged by length awaiting installation in the Hall of Honor.
The outdated and underutilized Hall of Honor is being renovated to include a more student-friendly layout with areas for studying and group seating similar to those in the new Hodge Hall addition. Digital displays will feature Kelley’s many distinguished alumni and world-class faculty fellows.

Auditorium-style classrooms adjacent to the Hall of Honor are also getting a face lift during this phase of the renovation, including new seating in one of the classrooms and fresh coats of paint in both.

June: The walls are up and partially painted. Terrazzo flooring
 has been poured but not polished.
Renovations have temporarily closed access between Hodge Hall and both floors of the “bridge” that connects the building to Kelley’s Godfrey Graduate Center, making it more of an adventure for those who have to go between buildings. Getting from Hodge Hall’s faculty tower on the north side of the building to the new addition that fronts 10th Street is also a challenge, requiring a walk outside or the navigation of a maze through SPEA.

July: Workers begin installing paneled walls and the coffered ceiling.
The inconvenience will be worth it when the areas reopen at the beginning of the fall semester with a new look and feel that reflects the quality of Kelley's Undergraduate program, which is ranked No. 8 in the country by U.S. News & World Report as well as Bloomberg Businessweek.

The summer work also has included the installation of a new, more efficient HVAC system for the older part of the building. That involved closing Fee Lane to assemble and use a 350-ton crane to lift the boxcar-sized air handlers to the top of Hodge Hall.  

While the most visible upgrades will be done by the time fall classes begin, the renovation won't be 100 percent complete until August 2016.

Friday, July 10, 2015

Kelley Professors Win Finance Paper Prize

Kelley associate professor of finance Eitan Goldman accepts the ECGI 2015 Standard Life Investments Finance Prize for the paper he coauthored with Nandini Gupta and Alexander Borisov. 

Two Kelley School of Business professors and a Kelley finance alumnus earned first prize for best finance paper in the European Corporate Governance Institute's 2015 Working Paper Competition.

The paper, The Corporate Value of (Corrupt) Lobbying, was written by Eitan Goldman, associate professor of finance and FedEx Faculty Fellow; Nandini Gupta, associate professor of finance and Koenig Faculty Fellow; and Alexander Borisov, PhD'12, assistant professor of finance at the University of Cincinnati. It was recently accepted for publication in the Review of Financial Studies.

Eitan Goldman
Nandini Gupta
Winner of the 2015 Standard Life Investments Finance Prize, the paper investigates how shareholders of the largest U.S. companies are affected by corporate lobbying activity.

"We use stock market data to study how stock prices of firms that lobby respond to events which decrease the ability of firms to lobby in the future," Goldman says. "Our first main finding is that we are able to quantify the corporate value of lobbying. For example, we find that a $100,000 additional lobbying expenditure is associated with an additional shareholder value of about $1.2 million. The second main finding of the paper is to show that part of the corporate value of lobbying can be attributed to potentially unethical arrangements between firms and policy makers."

The trio worked on the paper for several years. Receiving the award recognized the team's time, effort and ideas, Goldman says.

"It's gratifying to see that other leading academics and practitioners interested in corporate governance issues view the paper as important."

Read The Corporate Value of (Corrupt) Lobbying now.