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We examined stock market reactions to announcements of CEO appointments as a proxy for the perceived value created by these appointments. We examined differences in market reactions to the appointments of minority and women CEOs compared to white males. Our results indicate additional value creation through the appointment of African- American CEOs, but not through the appointment of female or Hispanic CEOs. We provide a potential explanation for this differential valuation of differing types of diversity.

Using data from a top-five global executive placement firm, the authors explore how an organization's financial misconduct may affect pay for former employees not implicated in wrongdoing. Drawing on stigma theory, they hypothesize that although such alumni did not participate in the financial misconduct and they had left the organization years before the misconduct, these alumni experience a compensation penalty. The stigma effect increases in relation to the job function proximity to the misconduct, recency of the misconduct, and an employee's seniority. Collectively, results suggest that the stigma of financial misconduct could reach alumni employees and need not be confined to executives and directors that oversaw the organization during the misconduct.

One of the consequences of the democratization of higher education in the United States is the explosion of institutions that have arisen to meet mass demand, and the stratification of those institutions based on the populations they serve. The Ivy League, the “public ivy” flagship state universities, and a cadre of elite small private liberal arts colleges are the basis for the institutionalized myths that inform public perception of what colleges or universities are, even though these schools account for an ever-shrinking fraction of American higher education experiences. The growth in schools serving primarily “nontraditional” students – that is, anything except in-person residential undergraduate liberal arts for at-least-middle-class white eighteen-year-olds with certain test scores coming directly from a college-preparatory high school program – has created a legitimacy paradox within the higher education sector. Democratization has created a need for different types of institutions, but the quest for legitimacy within the higher education sector drives isomorphic change and fuels mission creep, pulling schools away from their original nontraditional constituencies. In order to effectively serve nontraditional students, schools must explore other sectors outside of higher education where there is potential for creating programmatic and/or institutional legitimacy, including the business sector, specific professional sectors, and social/cultural milieu. The intentional development of multiliminality, where institutions draw legitimacy from multiple overlapping environmental sectors simultaneously, offers one response which helps anchor colleges and universities in their missions and helps maintain the access promised by the democratization of higher education.

The Department of Education has declared historically black colleges and universities (HBCUs) a rich resource for the nation – one that elicits pride and connotes achievement, according to its Website. ¹ Those same institutions are grappling with an increasingly competitive environment in higher education. HBCUs remain a formidable force, but the question remains: How can they continue to compete and thrive in the complex, dynamic world of academe?

The answer: By playing to their strengths and forging new paths.

Essentially, HBCUs' greatest strength is their cultural makeup. Higher education is becoming increasingly competitive as universities of all sizes battle smaller population, a thriving economy, and less interest in academia (and its resulting debt). HBCUs, which have long been able to attract African-American students due to their status as cultural icons, now find themselves losing ground not only due to these issues but also due to the integration of institutions and the inflated costs of these mostly private institutions.

Some options that administrators have considered include merging with other institutions, marketing themselves to students of other races or nationalities, and creating specialized offerings (drone technology, for example) to remain competitive. But there is another option, and that is to take their strength – attracting African-American students – and create partnerships with corporations, government entities, and predominantly white institutions (PWIs).

The goal of such partnerships would be to increase philanthropic donations from and provide cultural exchanges and perspectives to diversity-sparse professional and education institutions that have nothing to lose and everything to gain by helping to produce well-trained workers of color.

This chapter would explore how HBCUs can develop private partnerships and leverage them to compete in today's world of higher education.

The number of nontraditional students continues to rise on college campuses across the nation, with women outnumbering males. In spite of their growing presence at institutions of higher education, nontraditional students have low retention and graduation rates (Taniguchi & Kaufman, 2005). Since Black women comprise a large part of this population and face a number of the stressors that often serve as deterrents to the successful completion of their undergraduate degrees, this study aims to tell the stories of five selected nontraditional Black female students attending a predominantly White Ivy-league institution by examining the challenges they faced and the factors that contributed to the academic success of these women. For the purpose of this study, academic success is defined as having completed baccalaureate degree requirements and graduated with a B- or higher average or the equivalent 2.75 grade point index (GPA). This chapter hopes to address the question: What is it that enables some Black women to face the daunting challenges in their lives, attend a rigorous Ivy-league school, and still obtain their bachelor's degree? The answers to this question should enable policy makers and school administrators to implement programs and practices that will improve the retention and graduation rates of all nontraditional students.

The purpose of this study is to study the impact of the chief executive officer (CEO) general work experience on the level of firm internationalization in the form of foreign direct investment.

The author collects and analyzes data on publicly traded US firms in the manufacturing sector from 1993 to 2012.

The author finds that CEOs with more general work experience tend to engage in a higher degree of foreign direct investment (FDI)-based internationalization. This relationship will be weakened by CEO stock ownership and enhanced by CEO Ivy League education.

This study enriches the understanding of the important role top managers play in internationalization decisions. The study also contributes to the literature on managerial risk-taking by exploring the outcomes of managerial risk-taking, which have been less studied than the antecedents.

Corporate crime is prevalent and imposes enormous costs on society, yet our understanding of its antecedents remains poor, especially in relation to executive characteristics. In this study, we examine the influence of CEO childhood social class on corporate crime. Using a unique data set of CEOs at the largest US corporations, we consider CEO childhood background and develop the argument individuals raised in middle-class families have a greater disposition to commit wrongdoing within the corporations they lead. Specifically, growing up middle-class leaves a lasting status-anxiety imprint, which increases the tendency to engage in corporate crime to preserve or enhance social status. Furthermore, we show two status-anxiety-minimizing factors – Ivy League education and membership in a prominent golf club – weaken the effect of middle-class upbringing on corporate crime. Our findings suggest childhood social class has significant explanatory power for executive behavior and corporate outcomes.

With the college admissions process under the microscope after allegations of bribery, fraud, and other malfeasance, it is even more imperative for public libraries to play a role in helping students reach their fullest potential. From collection development to programming to community partnerships, the public library has a critical role to play in the college admissions process, especially in low-income communities. In a society where many people feel that they are at a disadvantage applying to elite schools already, the public library can offer a path forward and a path of hope.

The authors integrate the established literature on corporate entrepreneurship with the expanding inquiry into sport entrepreneurship by examining professional teams and leagues across North America. By situating the discussion in the context of organizational theory on competition, the authors argue for how teams (contestants) and leagues (organizers) uniquely apply the different forms of corporate entrepreneurship, providing contemporary examples of each. Additionally, the authors identify notable challenges of entrepreneurship within a sport context, emphasizing components that allowed organizations to overcome these concerns. By shining a light on the occurrences and challenges of corporate entrepreneurship within the sport industry, the authors hope to continue the push for greater interest in and examination of sport-related innovation and entrepreneurship.

This work researches and shares numerous examples across the North American sport landscape to illustrate corporate innovation and venturing by sport entities.

This research identifies innovation, sourced from different competitive actors, involving new products, new services, new processes and new administrative structures and approaches, and even includes the development of new businesses.

In looking at the entrepreneurial efforts of established sport teams and leagues, the authors highlight the impressive efforts of these entities to innovate, grow and evolve their products, service offerings and markets despite unique industrial constraints.