Olin Business School

You don’t have to look far these days to find examples of corporate scandals involving fraud. A new study finds that performance-based pay is to blame for fraudulent behavior and actually motivates people to “cook the books”. Judi McLean Parks, the Reuben C. and Anne Carpenter Taylor Professor of Organizational Behavior at Olin Business School at Washington University in St. Louis and co-author of the study believes the results have implications for CEO compensation plans and the financial difficulties many companies are experiencing today. “All I have to do is look at Enron, Fannie Mae, Freddie Mac to know that this does happen. And now we’ve demonstrated the causal link to contingent pay.” Fraud uncovered at Fannie Mae alone from 1998-2004 has been estimated to be in excess of $10.6 billion.

Photo by Kevin LowderMore than 600 professors, students and families — a record number — gathered in the Knight Center Nov. 27 and gobbled up more than 250 pounds of turkey and all the traditional dishes from stuffing to pumpkin pie at the Olin Business School’s 14th annual Thanksgiving Dinner.

Entrepreneurial spirit is alive and well in this year’s Olin Cup competition with $70,000 in seed money at stake. A record-breaking 38 teams entered the annual business formation contest operated by the Skandalaris Center for Entrepreneurial Studies at Washington University in St. Louis. Five finalists are now in the final stage of the competition which concludes with business plan presentations in January; winners will be announced Feb. 5, 2009.

Jay Swoboda believes that building “green” homes is not only the right thing to do, it is sound business practice. Swoboda, a 2002 graduate in Arts & Sciences, is an entrepreneur who is showing the St. Louis community a burgeoning market for green, modern, precision-built homes in urban neighborhoods. Swoboda will talk about his experiences […]

Jay Swoboda is an entrepreneur who is showing the St. Louis community that there is a burgeoning market for green, modern, precision-built homes in urban neighborhoods. Swoboda will talk about his experiences at 4 p.m. Wednesday, October 15, for an Assembly Series program called “Gonzo Entrepreneurship: Creating Better Social Environments while Keeping a Roof over your Head.” The presentation will be held in the Danforth University Center Room 276 and is free and open to the public.

Beginning in the 2008-09 academic year, the Jerry and Judy Kent Scholarships will be awarded to approximately five freshmen each year for the next seven years, and they will remain Kent Scholars for four years in Olin’s BSBA program.

Now that the U.S. government has taken the controls of distressed mortgage giants Fannie Mae and Freddie Mac, American taxpayers facing billions of dollars in losses in home loans issued by the private sector are left wondering, “What does this mean for me?”

The Olin Business School at Washington University in St. Louis has announced a schedule of program previews, networking events and information sessions highlighting the value of the school’s top-ranked Executive MBA program (EMBA), which prepares individuals to lead and advance their organizations.

Kevin M. Kiley has been promoted to senior associate director of MBA admissions at the Olin Business School at Washington University in St. Louis.

Patrick S. Moreton, Ph.D., has been promoted to associate dean at the Olin Business School at Washington University in St. Louis, announced Mahendra R. Gupta, Ph.D., dean and the Geraldine J. and Robert L. Virgil Professor of Accounting and Management.