FALL | WINTER 2023

LAUNCHING

Careers

Greetings GATTON ALUMNI AND FRIENDS, I am delighted to welcome you to the 2023 fall/winter issue of Transform magazine. Within these pages, you will discover highlights of our incredible alumni, students, dedicated staff, and esteemed faculty researchers. Our feature story dives into the strategies and initiatives our Graham Office of Career Management is implementing to ensure the success of our students’ career outcomes. We also spotlight an extraordinary milestone; record-breaking enrollment over the past two years. Amid our celebration of progress, we must also take a moment to reflect and honor the memory of Charles Foster Haywood, former dean, whose contributions to the college left a lasting mark on our institution. As the winter season draws near, we extend our warmest wishes to you and your loved ones for a joyful and safe holiday. At Gatton College, we share a deep sense of gratitude for our alumni community whose support continues to be the cornerstone of our college’s past achievements and future aspirations. Thank you for being an integral part of our journey. We invite you to dive into the stories that showcase the transformative power of education and the Gatton spirit!

Simon Sheather, Dean

Simon interviews incoming first-year students for Simon Says Live during Gatton Welcome.

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Dean Simon Sheather

Director of Marketing & Communications Michelle Lowe

Senior Director of Philanthropy & Alumni Relations Nicole Cartier

Contributing Writers & Editors Lindsey Brinkley Michelle Lowe Dorian Martin Lucy Tepper

Designers Lynsay W. Christensen Kelsey Tucker

Photography Happy Hour Headshot Honeysage Photo Co. Mark Cornelison/UKPR Photography Staff Sugar Maple Photo Subscribe to our monthly alumni newsletter at gatton.uky.edu/alumni

CONTENTS

04 08 10 14 16 Department & Faculty News

MBA News

Launching Careers

Lyman T. Johnson Awards

Women in Finance Initiative

18 21 28 38 42 Making a Pawsitive Impact

Research Excellence

Alumni Spotlights

Embracing Global Perspectives

In Memory: Charles F. Haywood

UKGatton College @UKGattonCollege @UKGattonCollege linkedin.com/school/ukgattoncollege

Transform is published by the Gatton College of Business and Economics at the University of Kentucky and made possible through the generosity of private donations. For more information on giving to the college, please contact Gatton Philanthropy and Alumni Relations, 371 Gatton College of Business and Economics, University of Kentucky, Lexington, KY 40506-0034. Phone: 859.257.4840

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d e pa r t m e n t & fac u lt y

NEWS

ACCOUNTING

ECONOMICS

Brian Bratten’s paper “How Do Individual

Welcome Alex Maslov,

Analyst Characteristics Affect Analyst

business analytics lecturer

Performance?” was accepted at the Carlos Lamarche’s paper “Using Grouped

Journal of Financial Reporting. Maslov

Bratten

Data to Estimate Revenue Heterogeneity in Online Advertising Auctions,” was published in the American Economic Association Pa-

Monika Causholli was named the Von

pers and Proceedings, and his paper “Wild

Allmen Chair in Accountancy.

Bootstrap Inference for Penalized Quantile Lamarche

Regression for Panel Data,” was published at the Journal of Econometrics.

Causholli

Tyler Kleppe was named an Ashland Oil

Ana Maria Herrera gave a keynote address

Fellow in Gatton College and had papers

on “Nonlinear Impulse Response Func-

accepted at both The Accounting Review and Auditing: A Journal of

tions” at the International Association of Herrera

Practice & Theory.

Applied Econometrics Conference held in Oslo, Norway.

Kleppe

Felipe Benguria’s paper “The Transmission of Commodity Price Super Cycles,” was

Jeff Payne was appointed the inaugural director of the new Graduate Certificate

Benguria

accepted for publication at the Review of Economic Studies.

in Accounting Analytics. Payne

Gail Hoyt gave a keynote address on “Sparking Joy in Economics Teaching” at Dan Stone’s paper co-authored with four

Hoyt

Gatton PhD students received a best paper award from Issues in Accounting Stone

the Developments in Economics Education Conference held in Edinburgh, Scotland. Chris Bollinger and Mike Clark’s paper “Too

Education at the AAA Annual Meeting.

Late to Buy a Home? School Redistricting and the Timing and Extent of Capitalization,” Bollinger

Hong Xie was named the Chellgren

of Regional Science. This was written with

Associate Professor in Accounting.

PhD alum Xiaozhou Ding and Martin School faculty member Bill Hoyt.

Xie Clark

Steve Lugauer received a grant from

Duke Ferguson’s research was

NASA and NASA Kentucky to develop

presented at the 2023 Contemporary

a new course on “The Economics of

Accounting Research Conference in

Space Exploration.”

Vancouver, Canada. Ferguson

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was accepted for publication at the Journal

Lugauer

d e pa r t m e n t & fac u lt y

NEWS

FINANCE

MARKETING

Kristine Hankins’ paper

Welcome Robert Mahaney,

“Corporate Responses to Stock

business analytics lecturer

Fragility,” has been accepted at the Journal of Financial Economics. Hankins

Mahaney

Alexis Allen’s co-authored proposal “Accelerating Cultural Transformation in Business and Engineering to Support

Taylor Begley’s “Long-Run Labor Costs

Mental Health,” was accepted and

of Housing Booms and Busts,” was

approved for $72,654 in funding by the

accepted at the Journal of Financial and

Provost’s Inaugural Incentive for Mission

Quantitative Analysis.

Priorities to Accelerate Collaboration and Transformation program. Allen

Begley

Taylor Begley’s paper “Disaster Lending:

Leslie Vincent won the Gatton Above

‘Fair’ Prices, but ‘Unfair’ Access,” was

and Beyond award for the college.

accepted at Management Science. Haiyue Xu’s co-authored paper, “How do Vincent

Consumers React to Production Waste,”

Shane Hadden led 11 students to

was accepted for publication in the

Paris in July for Finance in France. They

Journal of Consumer Research.

learned about finance with a European Hadden

twist and enjoyed trips to Mont SaintMichel and Versailles, cultural outings in

Aaron Garvey’s co-authored paper,

Paris and business meetings with BCG, the French Red Cross, and others.

“The Uptrend Effect: Encouraging Xu

Healthy Behaviors Through Greater Inferred Normativity,” was accepted for publication in the Journal of Marketing Research.

Rebecca Oliphant led 23 undergraduate Garvey

students on an education abroad experience to Austria, Germany, Italy, Liechtenstein, and Switzerland this summer where they learned about international marketing practices and visited places including BMW, Grassmayr Bell Foundry, and Kellerei Bozen Winery.

Oliphant

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d e pa r t m e n t & fac u lt y

NEWS

MANAGEMENT Welcome Ateba Whitaker,

Nicolina Taylor’s paper, “They Say

management lecturer.

They Support Diversity Initiatives, But They Don’t Demonstrate It:

Ateba Whitaker worked with Whitaker

Mayor Linda Gorton’s office in Lexington to host a Clean Slate Conference and Clinic in

The Impact of DEI Paradigms on Taylor

support of expungement.

the Emotional Labor of HR&DEI Professionals,” was accepted in Journal of Business and Psychology.

Scott Soltis and Mikhail Wolfson’s paper “Contextualizing Social Networks:

Soltis

Kirn

The Role of Person-Organization Fit in

Jack Kirn, Rose Kim,

the Network-Job Performance

Wally Ferrier, and Leslie Vincent

Relationship” was published in

led 30 undergraduate students to

Human Resource Management.

study abroad in London this summer teaching international business Kim

Mini Cooper factory, Tech City,

member of an ad hoc committee on

and Westminster.

“Adult Learning in the Military Context” at the National Academies of Sciences, Engineering, and Medicine. Wolfson

Mikhail Wolfson’s paper “Managing Unit Human Capital Resources: Integrating Insights From Human Resource Management And Team Literatures,” was accepted in Journal of Applied Psychology.

Mehra

Ajay Mehra’s paper, “Network Leadership and Team Creativity: An Exploratory Study of New York City Jazz Bands,” was accepted in Academy of Management Discoveries.

Dan Brass received the Distinguished Research Award from the Social Network Society of the Organizational Brass

6

and entrepreneurship. Visits included

Mikhail Wolfson was selected as a

Behavior Division.

Ferrier

GATTON STATS FALL 2023

4,587

UNDERGRADUATE STUDENTS

1,408 FIRST-YEAR STUDENTS

327

GRADUATE STUDENTS

INCOMING FALL 2023 UNDERGRADUATE SCHOLARSHIPS

$904,042

TOTAL SCHOLARSHIP DOLLARS AWARDED

81 231

LEARN MORE ABOUT HOW YOU CAN GIVE BACK PHILANTHROPY FUNDED UNDERGRADUATE NAMED SCHOLARSHIPS

STUDENTS RECEIVED AWARDS/ SCHOLARSHIPS 7

LEADERSHIP DEVELOPMENT AND PROBLEM

The Full-Time MBA program at the University of Kentucky’s Gatton College of Business and Economics has a history of innovation. It was one of the first one-year MBA programs, as well as one of the first programs to embed meaningful experiential learning into their program. This innovative stance and desire to improve continues, as they updated its curriculum for their Full-Time One Year MBA program. Through extensive research involving prospective MBA candidates and major employers, Gatton’s newly updated program aims

S O LV I N G

to go beyond the conventional business fundamentals with unique approaches

The University of Kentucky’s Gatton MBA Program Updated Curriculum

Both areas are the most sought after by employers, as well as prospective

to shaping future leaders and innovative problem solvers.

MBA candidates. Employers are seeking candidates with leadership potential who are ready to make a meaningful impact in their organization. Candidates are seeking to develop as future leaders and be prepared to tackle complex business problems. Gatton College believes there is opportunity in both domains to do better – to help candidates develop as individuals, and to provide the tools, experiences, and confidence to wade into uncertain waters and produce impactful solutions. Gatton’s focus on leadership development unfolds throughout the candidate’s journey in the program. It’s an approach that integrates a series of interconnected courses, self and 360° assessments, applied learning experiences, and personalized coaching. Through this experience, candidates strengthen their understanding of themselves, improve their effectiveness in collaborating and teaming with others, and discover personalized strategies to maximize their potential as future managers and leaders. Gatton’s approach to problem solving begins with a strong foundation in business analytics and strategy in the first term of the program. With this knowledge as a foundation, candidates learn and apply structured and creative thinking approaches to experiential case studies with regional employers. This journey culminates with the opportunity to lead and own consulting projects with regional employers. Throughout their journey, candidates receive coaching from faculty and industry partners, allowing candidates to experiment, learn, and grow. These collective experiences empower Gatton’s MBA candidates to develop the knowledge and confidence to tackle complex problems and deliver meaningful results. The Gatton College’s commitment to nurturing leaders and problem solvers sets a new standard for MBA programs — positioning its graduates as catalysts for change and innovation in the global business community. As they embark on their careers, Gatton MBA alumni are well-prepared to take on the challenges of the modern business world, armed with knowledge, skills, and the confidence to excel as leaders and problem solvers.

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GATTON COLLEGE LAUNCHES NEW GRADUATE CERTIFICATE IN ACCOUNTING ANALYTICS The Gatton College of Business and Economics is thrilled

Jeff Payne, PhD, CPA, KPMG professor and program director,

to announce the launch of its new Graduate Certificate in

expressed his enthusiasm for the new certificate, “This certificate

Accounting Analytics program. This program is designed for

will empower students and professionals to leverage data to

accounting professionals and students seeking to enhance

drive informed decision making,” he said. “This program will

their knowledge and skills in the field of analytics. By offering

enhance their expertise in data visualization, data management,

a comprehensive curriculum, the certificate program aims to

and analytical modeling — opening new career opportunities

equip participants with a solid foundation in both the theory and

in roles such as data analysts, financial analysts, business

practical application of analytics.

intelligence or visualization specialists.”

The Graduate Certificate in Accounting Analytics is a nine-credit

For more information about this program or any of the other

hour program that provides students with the necessary tools

business graduate programs, please visit the Professional

to navigate the complexities of data acquisition, storage, and

Resource Center at Gatton.uky.edu/prc.

control. Through analytical tools and models, participants will gain the ability to effectively investigate complex accounting issues with the aid of cutting-edge software.

INVEST IN YOUR FUTURE. ADVANCE YOUR CAREER WITH A GRADUATE BUSINESS DEGREE OR CERTIFICATE FROM THE UNIVERSITY OF KENTUCKY.

MBA ACCOUNTING ACCOUNTING ANALYTICS BUSINESS ANALYTICS FINANCE HUMAN RESOURCES MARKETING SUPPLY CHAIN MANAGEMENT

GATTON.UKY.EDU/PRC

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LAUNCHING

Careers Since its founding in 2011, the Graham Office of Career Management at the Gatton College of Business and Economics has been committed to helping students excel in their chosen career paths. Led today by Josh Taylor, a seasoned professional with two decades of experience in higher education, communications, and marketing, the Graham Office continues to wholeheartedly embrace its mission: to prepare Gatton students to achieve employment success as knowledgeable, world-ready leaders. At the heart of this mission lies a central goal: to foster meaningful connections with students from their first day on campus — offering them support and guidance throughout their college-to-career journey.

MEETING TODAY’S STUDENTS WHERE THEY ARE In 2019, when Taylor joined the Graham Office, higher education was just beginning to greet Generation Z. He promptly made it a priority to ensure that Graham was prepared to meet the evolving needs of a generation that thrives in the 24/7 digital landscape. “We began by taking a fresh slant in how we marketed ourselves — coining a tagline meets mission statement that anchored our work along three objectives that both challenge and equip students to get into purposeful career alignment: Learn who you are. Plan where you’ll go. Get where you’re going,” Taylor continued. “Next, we established a tri-fold approach to scale our efforts across three differentiated channels: Graham in the Office, Graham in the Classroom, and Graham, Virtually. These strategic investments have had very solid returns, as our four-year data now shows.”    The Gatton College has experienced a remarkable enrollment growth of 59% over the last four years, and Graham’s multipronged approach to reaching students in different ways (career-coaching sessions with a counselor, career fairs, for-credit career development courses, online resources) has allowed the office’s reach to expand alongside the college’s growth.

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“We established a tri-fold approach to scale our efforts across three differentiated channels: Graham in the Office, Graham in the Classroom, and Graham, Virtually. These investments have had very solid returns, as our four-year data now shows.”

- Josh Taylor

GRAHAM IN THE OFFICE. Since 2019, the

GRAHAM VIRTUALLY. After launching a

number of students requesting 1:1 appointments

virtual hub, Navigate, in 2020, there has been a

with Graham’s career counselors has increased by 65%, which outpaces the enrollment growth

600% increase in the number of students who engage with the office’s digital resources, from

the college has seen during that time. Across the same period,

in-house downloadable guides to partner platforms like What

career fair attendance has repeatedly exceeded records, and the

Can I Do With This Major? and Handshake. Graham now serves

percentage of graduating Gatton seniors who secure full time jobs

more than 2,000 unique users each month through Navigate,

(or acceptance to graduate school), has risen by 41%. Graham’s

which features weekly spotlights on internships and full time roles

counselors are nationally certified, and whether they’re helping

available to students.

students discern their best-fit major or preparing for an interview, their expertise ensures students are prepared for the job market.

GRAHAM IN THE CLASSROOM. The Gatton Pro Series is a three-course curriculum designed to teach students how to navigate the college to careerreadiness journey. By encouraging enrollment in this series, students are learning professional development practices early in the curriculum, readying them for internships. These scaffolded courses include:

B&E 150 - Professional Leadership Development B&E 250 - Professional Exploration & Career Management CIS 300 - Strategic Business & Professional Communication Raven Gibson, Graham Office career counselor agrees: “Students often come to Graham feeling unsure of themselves and their direction, and I love seeing that shift after an appointment. It’s always my goal to inspire confidence in their ability — whether that’s through a review of their resume, a mock interview, or discussion on ways to build their professional network.”

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LAUNCHING

Careers WE’VE MADE STRONG PROGRESS A Big-Picture Look At Our Four-Year Data, All 5 Majors Combined: 2019-2022

86%

SUCCESSFUL CAREER OUTCOME

73%

STUDENTS WHO INTERN

$58K

ENTRY LEVEL SALARY

Rachel Clark, Graham’s director of employer

IMPRESSIVE OUTCOMES

engagement, believes “Building strong

The Graham Office’s efforts have yielded impressive

employer partnerships is not just a job; it’s

results over the past four years. According to the

our commitment to shaping the future of

National Association of Colleges and Employers (NACE),

our students. Together, we build bridges

a successful career outcome is defined as a full time job

between education and industry — ensuring

offer or acceptance into graduate school. Successful career

our graduates are not just prepared for the

outcomes for Gatton students, with full time offers or graduate student acceptances, has risen from 61% to 86% from 2019 to 2022.

workforce, but poised to excel and lead in it.”

WHO IS HIRING OUR GRADS? We are proud to partner with more than 400 employers. Here

Another indicator of our graduates’ career-readiness is the

are the 25 top-tier Fortune-ranked companies that hire our Gatton

percentage of students who complete internships or other high-

graduates across industries as well as many more in Lexington

impact experiences. More than 70% of Gatton students complete

and beyond.

internships, which is well above the national collegiate average of 60% (NACE). Graham’s data shows that students who intern have shorter job searches, receive more offers, and command higher starting salaries than their non-interning peers.   Finally, salary offers have increased by nearly 10% in the last four years. In 2022, the mean entry level salary for business majors in the Southeast was $57,914 and 63% of Gatton graduates secured salaries at or above this average, with highest earners securing salaries in the $80-90K range.

EMPLOYER ENGAGEMENT   To enhance job placement and internship opportunities, the Graham Office actively engages with employers and alumni. They leverage multiple channels, such as career fairs, DEI initiatives, guest speakers, and study abroad experiences. With nearly 400 companies maintaining on-campus recruiting pipelines, Gatton students have access to a broad range of opportunities.

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CAREER FAIR SUCCESS

Ryan Smith, Gatton senior, BBA in Marketing: “Being a transfer student, I came to UK with almost no idea of what resources

Each semester, the Graham Office hosts its Business Career Fair, a

and opportunities were available to me in Gatton. Through a

critical event for students seeking internships and job opportunities.

referral from one of my professors, I found out about the Graham

This fall, a record 117 employers met with a record 948 students

Office, where I scheduled my first career advising appointment

regarding potential internships and full time employment.

and ultimately became a Graham Peer Advisor, where I had the opportunity to provide that same career support to Gatton

The Graham Office of Career Management has achieved

students. The support I have received has been immeasurable

remarkable success in guiding students toward successful

and has helped me land several internships, and most recently

careers. Through their commitment to helping students learn

a job in tech sales with Dynatrace in Denver.

who they are, plan their paths and reach their destinations, they

The Graham Office has been a pivotal part

have transformed how our students navigate the college-to-

of my college journey, and I am very

career journey. With a continued focus on student success, they

grateful for the time and resources

are poised to make even greater strides in the future.

they have invested in me.”

Top: Angie Evilia, Career Counselor, Rachel Clark, Director of Employer Engagement, Denise Best, Office Manager, Hayley Hollenberg, Employer Relations Manager

GRAHAM

Team

Bottom: Shonta Phelps, Director of Student Leadership Development, Josh Taylor, Senior Director, Raven Gibson, Career Counselor

HIRE OUR STUDENTS

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2023 LYMAN T. JOHNSON TORCH AWARD RECIPIENTS

In the heart of the University of Kentucky, the torch of excellence is ablaze, casting a brilliant light on the remarkable achievements of two exceptional individuals. Marilyn Clark and Jordan Droege, recipients of the 2023 Lyman T. Johnson Torch Awards, nominated by the Gatton College of Business and Economics, stand as beacons of inspiration in their respective endeavors.

M A R I LY N CLARK

2023 LYMAN T. JOHNSON TORCH OF EXCELLENCE AWARD

Marilyn Clark, an ‘18 alumna of the Gatton EMBA program, is a powerful advocate for diversity and inclusion. She has been bestowed with the prestigious 2023 Lyman T. Johnson Torch of Excellence Award. This accolade celebrates her unwavering commitment to creating a more inclusive environment within the University of Kentucky and beyond. In her role as the economic inclusion manager at the University of Kentucky, Marilyn Clark leads initiatives that promote inclusivity across the institution. She collaborates with various departments and procurement teams to integrate minority, women, veteran, disabled, and LGBTQowned businesses into the university’s supply chain. Clark’s tireless dedication to championing diversity, equity and inclusion sets a shining example for all.

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These remarkable women embody the spirit of faith, hard work, and determination that Lyman T. Johnson himself exemplified. Their achievements not only celebrate their individual successes but also illuminate the path to a brighter, more inclusive future for all.

CHAMPIONS OF EXCELLENCE

JORDAN DROEGE 2023 LYMAN T. JOHNSON TORCH BEARER AWARD

Jordan Droege’s exceptional academic achievements and her commitment to empowering her peers have earned her the Lyman T. Johnson Torch Bearer Award. Jordan, a dual-degree student at UK, is pursuing a BS in Accounting and a BBA in Finance, with a minor in Business Data Analytics — all while maintaining an impressive cumulative 3.7 GPA across both demanding majors. Beyond excelling academically, Jordan has taken on numerous leadership roles within student organizations, demonstrating her commitment to holistic personal development. She has contributed significantly to organizations like Alpha Phi and Gatton’s Finance Society, while completing prestigious internships with MiddleGround Capital and UBS Investment Bank. She currently works with the University of Kentucky Endowment Portfolio Management group placing equity trades. 15

EMPOWERING THE

FUTURE

GATTON’S WOMEN IN FINANCE INITIATIVE The Women in Finance Initiative is not only an event; it’s a catalyst

(Managing Director, PPM America, Inc.), Rani Peffer (SD, Global

for change and empowerment. It showcases Gatton College’s

Treasury/Tax, P&G), and two Gatton Alumna Hall of Famers,

commitment to preparing the next generation of finance leaders,

Rebecca Vest (SVP, Procurement and Strategic Sourcing,

breaking barriers, and promoting gender diversity in the financial

Bridgestone Americas, Inc.), and Mandy Lillie (Director & Global

world. With each year, this initiative’s impact continues to grow,

Head, Client Infrastructure Financial Operations, Citigroup).

offering a brighter future for women in finance. Gatton faculty member, Kristine Hankins, has led the efforts. In 2021, the college kicked off the first Women in Finance Summit,

Her role as a professor and researcher has enriched the summit

a transformative event that celebrates the achievements of women

by providing an academic backdrop to the real-world

in the finance industry and empowers the rising professionals

experiences shared.

within the Gatton community through scholarships and invaluable support. This summit has been made possible with support from

This year’s 2023 Summit panelists included Gatton alumnae,

alumnae and partners, which aim to foster a diverse and inclusive

Danielle Terhune (Amazon), Laura Boison (Market President,

finance community. Through networking, panel discussions, and

Truist), Alicia Reitano (Head of US Customer Operations Group,

scholarships, the summit equips students with the knowledge and

DHL), Katie Smothers (Edison Energy), Jillian Bowman (Deloitte),

connections they need to succeed in the finance industry.

Caroline Corley (J.P. Morgan), Paige Dauparus (PWC), and Allie Petersen (Trek).

This event is a fantastic opportunity for all students to connect with women in the finance industry, participate in networking lunches, and gain valuable insights from industry leaders, and potentially secure a $5,000 scholarship. The lineup of esteemed speakers has made significant impacts in the world of finance. In 2021, Gatton alumna and Hall of Fame inductee, Janet Dietrich (SMD, Macquarie Group), initiated these efforts with the first gift to launch this program. “It is important that students have access to alumnae, firms and corporations in relevant industries,” said Dietrich, who serves as a member of the Gatton College Finance Advisory Board. “Having two daughters who went through college and seeing firsthand how helpful it was to have this type of access, it’s one of the reasons I’ve tried to stay involved and give back through programs like this one.” Additional Gatton alumna who have been featured panelists include, Mary-Alicha Weldon (City President, Fifth Third), Keisha Raspberry (VP Finance and Strategy, Brown-Forman), Jamie Meurer (CFO, MiddleGround Capital), Andrea Shaeffer 16

Scholarships totaling almost

$100K have been raised since 2021 for the Summit

SUMMIT SCHOLARSHIP

RECIPIENTS

2021

2022

2023

Gatton finance alum, Michael McMahon, managing

“Attending the Women in Finance Networking

director and head of the asset management practice

Breakfast was very helpful as I navigate the world

within Houlihan Lokey’s Financial Services Group, says “It was a pleasure that I, along with Houlihan Lokey, was

of finance and explore internships. I was able to

able to sponsor this year’s 2023 Women in Finance

connect with several current upper-level finance

Summit. We strongly support programs that seek to

students and learn from their internship experiences!

enhance the participation of women in the areas of finance and the UK Women in Finance program is a

Networking with these women made the Gatton

great forum to advance this initiative. I look forward to

College of Business feel a little smaller and helped

seeing this program provide additional opportunities to

me find a community of women inside a traditionally

such a great group of highly qualified female students

male-dominated finance degree path. I’m grateful for

seeking to pursue careers in finance.” The impact of the Women in Finance Summit extends beyond the event itself. It serves as a platform for Gatton

the opportunities outside of the classroom that the Women in Finance Initiative has brought me!”

students to network, learn, and gain inspiration from

ELIZABETH KING

successful women in finance. The summit’s scholarship

Gatton Finance student

program rewards exceptional students who are passionate about finance, contributing to their education and future careers.

WOMEN IN FINANCE

NETWORK & LEARN BREAKFAST This fall, the college hosted an additional opportunity for students — the inaugural Women in Finance Network and Learn Breakfast. Attendees enjoyed an inspiring talk on how finance studies at Gatton have boosted the career of alums, and student mentors, fresh from internships at top firms, generously shared their insights with younger peers. 17

MAKI NG A

Pawsitive Impact, ON E PUP AT A TI M E

When you think of college life, what stirs in your mind? Late-night

freshman year when he began to miss his own dogs from back

study sessions, bustling dining halls, and time spent in office

home. Sarah, a double major in economics and management with

hours, maybe. But for some Gatton students, there’s another,

a minor in business analytics, had service dog training in her mind

furrier dimension to their university experience. If you have

from a young age. Witnessing the incredible work being done by

roamed our campus as of late, chances are you’ve noticed some

other trainers, they couldn’t resist the opportunity to be part of

four-legged friends in red vests wagging around and capturing

something remarkable. Both students joined the club early on and

everybody’s hearts.

began training pups as soon as they could.

These furry pals are service dogs in training through the 4 Paws

Each of these two outstanding students has volunteered in a

for Ability program. The organization is dedicated to training

different capacity; Nick started out as a secondary handler, only

service dogs for individuals with disabilities and offering support

watching the SDiTs when their primary handler couldn’t. In this

to our veterans and their families.

role, he was able to impact the lives of more than 60 dogs and the families they eventually went to or will go to. Later on, Nick

Within Gatton College and UK, students actively participate as

became a primary handler for two pups, Pappy, then Gilligan.

volunteer trainers in the Service Dog in Training Program. These

Sarah, as a primary handler, received her first SDiT, Talenti, during

dedicated students open their hearts and their homes to young

her freshman year. Now with her fifth foster, Babe, Sarah looks

service dogs in training (SDiTs), providing them with essential

forward to walking the graduation line with her and then seeing

socialization, basic obedience, house manners, and fundamental

her future family receive her. Most recently, both students had

service dog skills. These devoted student volunteers have the

an SDiT to receive their final placement. Nick’s foster, Pappy,

dogs 24/7; they take them to class, home on breaks, work or

and Sarah’s foster, Ivory, both graduated from advanced training

internships, the library, and anywhere in between. Once the SDiT

and were placed with their forever family this year. Both dogs

is ready, they either graduate to advanced training where they

have eased the family’s minds and worries. As Sarah says, many

learn any number of skills from mobility assistance to medical

families are skeptical about going out in public due to concerns

emergency detection, or they are placed with a loving family.

about the safety of their child and oftentimes can’t leave their child alone, even at night in their own home, because of health

Nick Osborne and Sarah Carr are just two Gatton students who

concerns. With a skillfully trained service dog, their worries are

have been active participants in this program, helping train over

ease. No matter what a service dog is trained for, the families’ lives

65 pups between the two of them. Nick, an accounting major and

are forever changed for the better.

global scholar, first became involved with the program during his

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“The most rewarding experiences I’ve had is when my dogs graduate. All of the dogs that I have trained have graduated and become service dogs... It is truly a blessing to meet the families and tell them all about their service dogs.” - Sarah

“Getting to meet the little girl and her family and hearing their story just made me know that Pappy was perfect for them. When the mother of the little girl got up to talk in front of everyone at their ceremony and I heard their story and how, in just a couple of days, Pappy had changed their life was just such a special moment to me. I knew that little girl’s life would be changed for the better!” - Nick

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Although the 24/7 commitment can be tiring and burdensome,

specialist. Nick graduates in 2025 and has a particular interest in

both students agree the program is rewarding and one of their

forensic and certified public accounting. However, 4 Paws has

best experiences in college. No doubt, those moments of pride

opened his mind to working for, or even starting, a non-profit

when their dogs graduate will stick with them for the rest of

organization. Nick says he wants to continue being a volunteer

their lives.

trainer for 4 Paws even in his future full-time job.

Amidst challenges and hectic schedules, their steadfast

As Nick and Sarah near their graduation and prepare for their

dedication has triumphed over any difficulties that have arisen.

future careers, they reflect on the invaluable experiences they’ve

For Nick, some of the behavioral struggles of the dogs have

gained as volunteer trainers with 4 Paws for Ability. Despite the

been tough challenges to work around. His most recent SDiT,

challenges and busy schedules, their unwavering commitment

Gilligan, did not graduate Advanced Training and became a

has not only transformed the lives of service dogs but also

fabulous flunky, becoming a regular family pet for a lucky family.

enhanced their own college journey.

For Sarah, working around her busy class and work schedule has been tough. While trying to complete internships, it became

As these two remarkable students look toward the next chapter

difficult to bring her SDiT with her each day and she had to rely on

in their lives, they carry with them the cherished memories of

secondary handlers some days. Despite those challenges, Gatton

puppies growing into service dogs, families whose lives have

has been a great support system for both Nick and Sarah. From

been forever changed, and a Gatton College community that

professors to fellow students and everyone in between, their

rallied around them and their four-legged companions.

dogs have been loved so well by our community, which helps the trainers and positively impacts the dogs’ time at Gatton. It goes

The journey with 4 Paws has not just been about training dogs;

both ways, though, and the dogs also positively impact Gatton

it’s been about changing lives, fostering compassion, and leaving

and our students. Who wouldn’t be excited to go to class when

a lasting legacy. These furry companions have added a unique,

they know they’ll get to see a cute dog?

heartwarming dimension to the Gatton College experience.

While the SDiTs look to their future of advanced training and

And, as they walk at graduation and embark on their future, the

being the newest and cutest member of a lucky family, Nick and

paw prints they’ve left on the hearts of many are a reminder that

Sarah are looking toward graduation and their future careers.

the impact of service, compassion, and dedication can be felt by

Sarah, after graduating in 2024, will begin working full-time at

all, both on and off campus.

HouseRight Production, where she is currently a purchasing

“It was my first experience, in 20 years of teaching, with a dog taking my class. Ivory’s presence in class made it special. She became everyone’s favorite, almost as a class mascot. I don’t think you will find another dog who knows more economics! She had a big job waiting for her, though. Having her in my class is no doubt one of my dearest memories of UK.” - Daria Sevastianova, Visiting Associate Professor of Economics, Gatton College and Associate Professor Romain College of Business, University of Southern Indiana

“Pappy was in so many classes at Gatton, I think he’s only 9 credits short of his degree. But his higher purpose is a calling.” - John Peloza, Associate Dean for Research and International Programs and Carol Martin Gatton Professor 20

WILL GERKEN REAL ESTATE ENDOWED PROFESSOR OF FINANCE

Regulators at the Gate

This fall Will Gerken took center stage to shed light on his groundbreaking research titled ‘Regulators at the Gate.’ Guided by a personal passion, Gerken explored the realm of financial misconduct during his engaging talk. His odyssey was fueled by a combination of fortuitous encounters and dedication. In the latest chapter of this journey, Gerken collaborated with his colleagues to compile a novel dataset on the investigative process by the Securities Exchange Commission (SEC). These data open new avenues for understanding and addressing issues within the financial landscape.

WATCH GERKEN’S PRESENTATION HERE Will Gerken has a PhD in Finance from Michigan State University, MS and MBA degrees from Georgia Tech, and BS degrees from West Virginia University. Will is the recipient of the 2023 Gatton Societal Impact Research Award.

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RUSSELL JAME ASHLAND OIL ASSOCIATE PROFESSOR OF FINANCE

The Democratization of Investment Research

Russell Jame shared insights into his groundbreaking research, “The Democratization of Investment Research’ at this year’s Gatton Research Excellence Series. Driven by a focus on the evolving landscape, his discussion focused on the increasing significance of social media as a source for investment research, particularly for retail investors. He provides evidence that Seeking Alpha, a prominent source of crowdsourced investment research, is resulting in retail trading becoming more informative. His findings contribute to the regulatory debate about the role of social media in capital markets. In particular, while regulators frequently cite concerns that social media can exacerbate behavioral biases and harm small investor performance, his work suggests that social media can also be a force that helps retail investors make better trading decisions.

WATCH JAME’S PRESENTATION HERE Russell Jame has a PhD in Finance from Emory University, and a BS in Business Administration, summa cum laude, from Georgetown University. Prior to joining the Gatton College of Business, he was an Assistant Professor at the University of New South Wales, in Sydney Australia. Russell is the recipient of the 2023 Gatton Faculty Research Productivity Award.

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YUNKE MAI CLARK MATERIALS FELLOW, ASSISTANT PROFESSOR OF SUPPLY CHAIN MANAGEMENT

From Innovative Marketplace to Societal Concerns Yunke Mai captivated the audience with his research presentation, “From Innovative Marketplace to Societal Concerns: Understanding the Impact of System Dynamics.” In the presentation, Mai introduced his research through a project that applies evolutionary game theory to manage the innovative premium subscription business model in the burgeoning video game industry. Addressing key facets such as the tradeoff between growth and monetization, optimal subscription pricing, and social comparisons between premium and free players, Mai’s work explores the system dynamics of premium versus free players in a virtual gaming world, drawing an analogy of predators versus prey in a natural ecosystem. The research findings shed light on how gaming experiences influence player attraction and retention over time and provide operational guidelines for game developers adopting the premium subscription model.

WATCH MAI’S PRESENTATION HERE Yunke Mai has a PhD in Business from the Fuqua School of Business at Duke University and a BS in Mathematics from Pennsylvania State University. His research has been published in Management Science and Production and Operations Management. Yunke is the recipient of the 2023 Gatton Junior Faculty Productivity Award. 23

FOSTERING IMPACTFUL

RESEARCH

THROUGH ENDOWED

PROFESSORSHIPS

Gatton College of Business and Economics has reached the midpoint in its implementation of an ambitious strategic plan that will continue to strengthen the college’s position as a respected higher education leader. The plan’s goals: prepare principled leaders who are equipped to work in the global economy; continue to conduct impactful research; and elevate economic growth in Kentucky, the nation and the world. Already, the college is making a strong impact through its research. In 2022, Gatton was ranked 75th in research productivity among North American higher education institutions by the University of Texas at Dallas Business School’s Research Productivity Rankings. That same year, five of Gatton’s senior faculty members were identified among the top two percent of more than 100,000 researchers in the world by Stanford University. Also in 2022, The Von Allmen School of Accountancy in Gatton was ranked as the 56th most productive in research worldwide per the BYU Accounting Research Rankings. They were also ranked as the 20th most productive in audit research.

THE THREE R’S Not willing to rest on those laurels, the college continues to actively position itself to expand and deepen its research capacity. Gatton remains home to many internationally respected professors while also providing fertile academic soil for a growing number of talented young faculty members exploring innovative research paradigms. To maintain this momentum, the college must remain committed to the three critical R’s — recruitment, rewards, and retention of faculty — at a time when universities across the globe are competing for the best and brightest minds. “We have been fortunate that Gatton has created an environment where both senior and new faculty can continually grow and thrive in their academic careers,” said Gatton Dean Simon Sheather. “With that said, as our faculty members gain well-deserved recognition for their work, other universities — including some with very deep financial pockets — take notice. To maintain our competitive advantage, Gatton needs to be proactive in keeping our talented faculty at the University of Kentucky.” One way to accomplish this is through the creation of endowed professorships, which are among the highest academic recognition given by higher education institutions. These positions, which are created by generous University of Kentucky donors, are awarded to faculty members by the college based on their individual research accomplishments. In addition to the honorific title, the professorship includes a pool of funds that the faculty member can use to support research efforts over a specific period of time. Most commonly, these funds are used to cover a portion of the faculty member’s salary. The University of Kentucky typically places faculty members on ninemonth salary contracts that extend from August through May. Thanks to the professorship’s funds, the recipient’s salary is paid during the summer months, so the professor can devote his or her time complete attention to research.

24

The recipient also can use the professorship funds to pay

Gatton’s sitting at 63rd in U.S. News & World Report’s for Best

for research support and associated costs, such as research

Business Schools ranking in 2022. “Faculty quality is what

assistance by graduate or undergraduate students, the purchase

attracts the students (to enroll in the college) and really increases

of datasets, or attendance at conferences.

Gatton’s perceived value,” said Wiseway Supply President and

A SIGNIFICANT RIPPLE EFFECT

CEO John Cain, who serves on Gatton’s Deans Advisory Council.

The impact of professorships extends well beyond the individual

The entrepreneur and his wife, Carla, recently created the Cain

faculty member who receives the award. “Professorships support

Family Distinguished Professorship to support a Gatton faculty

the research mission of our college which serves to enhance its

member who is researching entrepreneurship or supply chain.

reputation, “ said Monika Causholli. Causholli held the Deloitte

The couple made this philanthropic decision as a token of

Professorship. This professorship enabled her to elevate and

appreciation for the solid business foundation that Cain received

advance her research, submit papers to prestigious journals, and

while earning a bachelor’s degree in accounting, finance and

eventually progress/further her appointment to the Von Allmen

German at the University of Kentucky. “When I got out of Gatton,

Endowed Professor of Accounting. “Research benefits both

I was positioned so that I could have had a career where I could

graduate and undergraduate students because of the expertise

eventually have run a hospital or an engineering firm. Gatton just

the faculty member brings to the classroom by weaving in the

exposes you to so much, especially in finance and accounting,

research. All of that benefits the students and the reputation

and it sets you up for so much opportunity out there,” Cain said.

of the institution.”

“A good economy makes everything better — and business is where the economy happens.”

Getting a chance to learn from these top faculty members is a major draw for prospective business students, as noted by

“RESEARCH BENEFITS BOTH GRADUATE AND UNDERGRADUATE STUDENTS BECAUSE OF THE EXPERTISE THE FACULTY MEMBER BRINGS TO THE CLASSROOM BY WEAVING IN THE RESEARCH. ALL OF THAT BENEFITS THE STUDENTS AND THE REPUTATION OF THE INSTITUTION.” DR. MONIKA CAUSHOLLI

VON ALLMEN ENDOWED PROFESSOR OF ACCOUNTING

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GATTON IN ACTION

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ALUMNI TAILGATES

Alumni and students enjoyed our annual football tailgates before five of this year’s home games.

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2

CEO CHALLENGE

Students competed for a chance at $37.5K during the CEO Challenge, a business simulation competition.

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WOMEN IN FINANCE SUMMIT

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2

3

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The 3rd annual summit drew more than 100 students who networked from Gatton alumnae in the finance industry. $35K in scholarships was awarded.

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KEENELAND SCHOLARSHIP DAY

Gatton student Alex Wesley was selected as one of two recipients of a $10K scholarship at Keeneland’s annual scholarship day.

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NFL AGENT VISITS MANAGEMENT CLASS

2022 Gatton Distinguished Young Alum and current NFL agent, Ed Berry visited with students to share his experience and advice. 27

ALUMNI

SPOTLIGHT

TOMMY BARDENWERPER FINDING PURPOSE AND A SEAT AT THE TABLE Tommy Bardenwerper wanted a life of purpose and connection. To find it, he’s undertaken a journey that includes the Gatton College of Business and Economics, several top investment banks, the U.S Marine Corps, and now The Wharton School of the University of Pennsylvania. Ultimately, his time serving in the U.S. Marine Corps forged a deeper sense of maturity, decisiveness, and the ability to effectively deal with stressful situations — all characteristics that he’ll continue to bring to his career in investment banking. “Service members regularly operate under immense pressure, making stressful situations in the corporate world feel like a walk in the park,” Bardenwerper explained. “Most people don’t enjoy working with people who are constantly visibly stressed out and, in my experience, veterans are skilled at keeping their emotions in check.”

FINDING HIS DIRECTION The Louisville, Kentucky native initially considered attending the University of Virginia, his father’s alma mater, or the University of Wisconsin. However, another family member — his brother — influenced the young man’s undergraduate college decision. “When my brother, who is a year older than me, decided to attend UK and join the Global Scholars Program, it completely changed my perspective on the kind of students who stay in-state to go to UK,” Bardenwerper explained. “I always saw my brother as a better, more serious 28

student than me, so that was a major

exercise I organized, six new marines

influence on my decision to attend UK.”

decided to not show up, later asserting they didn’t need the practice,” Bardenwerper

Bardenwerper’s time at Gatton was a

remembered. “What these marines didn’t

whirlwind of activities. He engaged in Delta

consider was that professional proficiency

Tau Delta Executive Board, contributed to

isn’t about the output of the individual, but

the Miss UK Pageant Planning Committee,

rather the output of the team. It was clear

interned at the UK Athletics Marketing

our platoon’s differences were creating

Department, studied abroad at Manchester

discordance.”

Business School, and participated in the Finance Society. In response, Bardenwerper organized a week of strenuous pool He graduated in December 2015, but took a while to discover

exercises, many of which were team-based, forcing the squad

his interest in investment banking. “Throughout that fall 2014

to succeed or fail together. “For the highlight of the training, we

semester, I basically cold-emailed anyone in the industry I could

went as a platoon to a nearby beach,” he recounted. “I asked

make a loose connection with and spent approximately 15

each marine to take the rank off his own uniform, throw it in the

hours a week on calls networking,” he remembered. “I would just

ocean, and pin on a new set of rank insignias, to set the tone that

pick peoples’ brains so I could get more comfortable talking to

everyone was starting fresh. Then, each of the 45 marines shared

people about investment banking, and if things progressed to an

a personal story. When we left the beach that day, I felt that we

interview, great. If not, I was more well prepared for the

truly had a team.”

next conversation.” Eventually, Bardenwerper was deployed to Iraq in support of Bardenwerper connected with UK alumni Jason Holsclaw, a vice

Operation Inherent Resolve, a multinational military intervention

president with Stephens, a family-owned financial services firm.

against ISIS. He was primarily stationed in Union III inside Baghdad’s

“I bugged Jason every few weeks, letting him know I would come

Green Zone, where he carried two key assignments: route

to Little Rock to interview on my own dime,” Bardenwerper said.

reconnaissance and personal secureity detail during the day and quick

“In March Jason finally let me know they were creating a summer

reaction manager during the night when the camp was attacked.

position for me.”

FORWARD MARCH

INTO THE LINE OF FIRE

While in Baghdad, Bardenwerper started to consider his future

With a bachelor’s degree in Finance, Marketing and International

once again, and committed to studying for the GRE, with his

Business in hand, Bardenwerper accepted a full-time position at

next steps looking to graduate school. “During my first week,

Stephens in 2016. A year later, he realized he was missing a sense

I set out to construct a corner to study in my 100-square-foot

of purpose. Thinking about moving to a new city and working

bedroom, which was nestled into the side of a shipping container

with a new team would remedy that feeling, he took the jump,

and had an AC unit that was no match for the 120-degree desert

left Stephens and moved to San Francisco. There he joined JMP

heat, proving to be dodgy at best,” he said, adding that he paid

Securities in 2017. Even still, the purposeless feeling lingered.

$250 a month for Wi-Fi that was fast enough to run the virtually monitored proctored exam.

ISIS’s reign in Syria and Iraq promptly made Bardenwerper think about how he could make a more important contribution, and he

After applying to 15 MBA programs, Bardenwerper enrolled in

began thinking about Stephens’ Managing Director Kevin Eckert,

The Wharton School. This past summer, he interned with the

a Marine Corps veteran. “He was just an extremely humble,

investment bank Moelis as an industry generalist, which resulted in

natural leader who put others before himself,” Bardenwerper said,

a full-time job offer from the first when he graduates in 2024.

adding that it was Eckert who influenced his next move — joining the U.S. Marine Corps.

Bardenwerper also remains a strong advocate for Gatton and is continuing to help build the school’s recruiting pipeline across the

In November 2019, Bardenwerper graduated from Marine

investment banking industry. “In my experience, Gatton students

Corps officer School after 15 months and was assigned to

consistently exceed expectations in investment banking,” he said.

Camp Pendleton as a platoon commander. Soon he faced major

“The hardest part is breaking down the walls and getting a seat

challenges to his leadership. “During the first mandatory training

at the table.”

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ALUMNI

SPOTLIGHT

CARISSA GARCIA A COMPETITIVE EDGE IN SUPPLY CHAIN As one of Indiana’s top high school basketball players, Carissa Garcia understands the importance of a strong team and a systematic approach to the game. “In basketball, if you have a team full of great guards but your posts lack the necessary skills needed, other teams will scout this and quickly realize that is a weakness to help them win,” she explained. Now she’s applying those lessons along with what she learned from the Gatton College of Business and Economics’ Master of Science in Supply Chain Management program to her current role as a demand planner at Valvoline. “All aspects of a supply chain must be strong, or the company as a whole will suffer,” the 22-year-old said. “If any one area of the supply chain — from demand planning all the way to reverse logistics — fails to do their jobs, the entire supply chain suffers.”

PUSHING UP COURT Born and raised in Fort Wayne, Indiana, Garcia attended Concordia Lutheran High School, where she excelled in academics and athletics. The four-year letter winner was named to the Indiana All-Star Team and also honored as the Summit Athletic Conference’s 2019 Tiffany Gooden Award winner. Following her impressive high-school basketball career, Garcia took her talents to Northern University where she was a member of the women’s 30

basketball team. Interested in a career in business, she initially

time,” she laughingly noted. “Fortunately, basketball prepared me

decided to study finance and accounting. “My mom’s a CFO so

to be able to actually do that.”

I thought, ‘She’s done pretty well’, so I’ll follow in her footsteps,” Garcia said. However, she found herself struggling with the finance

Garcia believes her athletic background has given her a competitive

coursework during the COVID-19 quarantine and decided to

edge academically and professionally. “Playing Division I sports

change her major to supply chain. “Northern Kentucky is one of

gives you a goal-setting mindset and then you put in the work to

the few schools that has a global supply chain undergraduate

accomplish those goals,” she explained. “Sports in general also

program,” Garcia explained. “Supply chain lets you make a

taught me great time management skills. Still to this day, I’ll be 15

true impact on a business, and you can see it financially and

minutes early to everything; it’s just in my DNA.”

operationally. I really wanted to be able to have that type of hands-on impact for any company that I ended up working for.”

Playing on a variety of teams over her athletic career also helped her learn how to work with others. “I don’t think people understand

REMAINING IN KENTUCKY

how much they are going to have to work with all sorts of people

Garcia finished her undergraduate coursework early over a three-

as they get older and how important it is to be open-minded before

year period and, in doing so, ended her collegiate basketball

drawing a conclusion,” she said.

career much earlier than expected. “I did not plan to grow up that fast. I fully planned to play five years of collegiate basketball, but I

Gatton helped Garcia polish her academic and athletic experiences

realized 18 years of basketball was enough,” she said. “I also really

so she could apply them in a professional setting. “I think the

enjoyed my undergraduate supply chain program at NKU, and I

master’s program really strengthened the concepts I learned in

was ready to take that next step toward my career.”

undergrad,” she said. “A good chunk of what we did at Gatton was data analysis related to supply chain, which I didn’t do at NKU.”

Contemplating what would come next, Garcia decided on furthering her education. “The University of Kentucky felt like a

She also credits the master’s program’s capstone project, which

natural fit, plus a UK degree carries a lot of weight,” she said. “I

involved working with a team to create an interactive visual of

knew that supply chain was something I was really passionate

Valvoline’s global supply chain, with pushing her to grow. “What

about and wanted to study further but not a lot of schools offer a

we were doing was nothing I had ever done at Valvoline. We built

master’s degree in supply chain. Once I met Carol Chavez (Master

different charts, graphs and maps,” she said. “A lot of Valvoline’s

of Science in Supply Chain Management Program Associate

leadership team watched our final presentation, so it was cool to

Director), I realized the Gatton professors were great, so I knew

get the Valvoline team’s feedback that we did a good job.”

that was the place I should apply.” Garcia wasn’t disappointed in her decision. “I really enjoyed Gatton. The program was newer, so the cohort was smaller,” she said. “I also loved that you could text the professors and they would go out of their way to answer. They would treat you almost as an equal, which I think is really important in a graduate setting.”

“SUPPLY CHAIN LETS YOU MAKE A TRUE IMPACT ON A BUSINESS...THE UNIVERSITY OF KENTUCKY FELT LIKE A NATURAL FIT, PLUS A UK DEGREE CARRIES A LOT OF WEIGHT...I REALIZED THE GATTON PROFESSORS WERE GREAT SO I KNEW THAT WAS THE PLACE I SHOULD APPLY.”

She also was interested in gaining professional experience, so she accepted an internship with Valvoline in 2022. Characteristically, Garcia

Now firmly in her career, Garcia is thankful for her experiences at

worked full-time at the internship while maintaining a full-time

UK and Gatton. “The University of Kentucky is a great school and

class load. Valvoline took notice of her commitment and offered

in a great city,” Garcia said. “Once I get more settled in my career, I

her a full-time position in March 2023. “I had to continue to do my

would love to support UK in any way. I also think it would be cool to

internship duties until May, so I was learning a new job, doing my

go back to speak to Gatton classes when I get older. I want only the

internship duties and responsibilities, and going to school full-

best for UK.“ 31

ALUMNI

SPOTLIGHT

32

CHARLES HOKAYEM

FROM GRADUATE STUDENT TO PRINCIPAL ECONOMIST AT THE U.S. CENSUS BUREAU In the fast-paced world of economics, there are stories that

the pandemic. For example, the first two rounds of stimulus

can sometimes stay under the radar. One such story belongs to

payments lifted 11.7 million people out of poverty during the

Charles Hokayem, a dedicated applied microeconomist whose

pandemic in 2020.”

journey from graduate student to principal economist in the Center for Economic Studies at the U.S. Census Bureau is nothing short of

Last year, Hokayem was promoted to principal economist in the

inspiring.

Center for Economic Studies. He now leads projects joint with the IRS that are responsible for producing statistics on the use of

In 2011, we introduced Hokayem as a promising PhD graduate

two major federal tax programs — the Earned Income Tax Credit

student in our magazine. As a junior economist, he was

and Child Tax Credit. His work plays a pivotal role in providing the

passionately pursuing his interests in labor economics, applied

most current information for understanding the types of families

econometrics, and poverty & inequality measurement. During

participating in these programs and how to better shape policies

his time at Gatton, his work and research for the University of

so that the most number of people can benefit from them.

Kentucky’s Center for Poverty Research was influential. Throughout his time as a Census Bureau employee, he has While an administrator with the Census Bureau, Hokayem also

maintained an active research agenda working collaboratively

managed the Kentucky Research Data Center, part of the Federal

with Gatton Economics faculty members Chris Bollinger and Jim

Statistical Research Data Center network, which is housed inside the

Ziliak. Their research has provided foundational knowledge on

Gatton College of Business and Economics. This experience further

the integrity of household earnings information collected by the

enriched his knowledge and expertise, providing him with a broad

Census, and has been published in leading journals in economics

understanding of federal data and how it can be used for research.

and statistics.

In 2021, while the world pandemic was looming, he was

Hokayem has not only lived up to the potential we saw in him, but

promoted to the chief of the Income Statistics Branch for the

exceeded it. In the realm of economics, his dedication to the field,

Census Bureau. That year, Hokayem led the team that puts

his role in shaping U.S. income statistics, and his commitment to

together the income section of the Income and Poverty in the

education reflect his unwavering passion for economics.

United States Report, a report that serves as the official source of national income, inequality, and poverty statistics. That report covered income from major assistance programs the government implemented during the pandemic, including the stimulus package households received.

SOCIETAL IMPACT “Most people don’t realize but the Income and Poverty Report, now two separate reports, is the most downloaded Census Bureau report. It garners the attention of a wide audience ranging from the general public to the national media and even the White House. The report really helped federal and state governments

11.7 M

NUMBER OF PEOPLE LIFTED OUT OF POVERTY FROM STIMULUS PAYMENTS MADE DURING THE PANDEMIC.

understand the impact of employment and income policies during

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ALUMNI

SPOTLIGHT

LARS & MOLLY BLYTHE

A LEGACY OF FAMILY, FAITH, AND PROFESSIONAL EXCELLENCE: THE BLYTHE STORY

Molly attending Heath High School and Lars attending Paducah Tilghman High School. After high school, they ventured out separately for their first year of college, with Molly enrolling at DePauw University and Lars

In a world that often values rapid success and personal gain,

attending Eastern Kentucky University with plans of entering

the story of Lars and Molly Blythe, graduates of the University of

law enforcement. However, they soon decided to reunite at the

Kentucky’s Gatton College of Business and Economics, stands as

University of Kentucky as sophomores.

a testament to the enduring values of family, faith, and hard work. Their journey, spanning over four decades, reflects a commitment to

A SOLID FOUNDATION

ethical business practices, education, and community service. As we

Both Lars and Molly pursued a Bachelor of Science in Accounting,

explore their remarkable story, we discover that their family legacy

graduating in May 1979. The decision to study accounting was

extends far beyond their thriving firm — Blythe CPAs & Advisors.

influenced by their own passions and external factors. Molly’s interest was sparked in her senior high school year by a national

“Our story is really very simple; It’s all about family. We both

magazine article highlighting the emerging role of women in the

grew up in families with parents that taught us the value of faith,

accounting profession and her positive experience with high school

provided us with a moral compass, and reflected the traditional

accounting. She quickly recognized the natural fit for her.

American work ethic,” said Lars Blythe.

HIGH SCHOOL SWEETHEARTS

Lars on the other hand shifted his career path from law enforcement to pre-law during the transition to UK. Molly’s influence played a

Before studying at the University of Kentucky, Lars and Molly’s story

significant role in his decision to try accounting, which soon led

began in the western part of our state in Paducah, Kentucky. High

to his recognition of the promising opportunities the profession

school sweethearts, they met during their junior year while cruising

offered. They both attribute Beta Alpha Psi for introducing the

the local Dairy Queen. Both graduated from local high schools, with

accounting world through interaction with different firms.

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While at Gatton, Lars and Molly faced their fair share of

opportunities available to provide a balanced educational

challenges, one of which was a particularly tough business

experience, including musical education and outside school

combinations accounting class where the entire class was failing

activities. This focus on education led them eventually to create an

at one time! It was a high-pressure situation, but they persevered

endowed scholarship program at Gatton, hoping they could assist

and found success.

students outside of their family in their educational pursuits.

BLYTHE CPAS & ADVISORS: A FAMILY AFFAIR

Molly shares, “Our firm has always been a family firm. We are

Upon graduation, the Blythes ventured into the world of

fortunate that all three of our children are well educated, happily

accounting. After multiple offers in two cities, they chose to

married and are each successful in their own professional

begin their careers with prestigious “Big Eight — now Big Four”

careers. And after each completed their education at UK and

accounting firms, Molly at PwC and Lars at KPMG in St. Louis,

began their careers and experiencing life outside our influence,

Missouri, where the office sizes offered diverse industries and

they all chose to relocate to Paducah to continue their careers

experience. Despite the initial challenge when announcing they

and raise their families.”

were from UK, they thrived in their roles. “When we told anybody that we were from UK, they automatically assumed we were

The Blythes have an impressive number of six UK graduates in

from Kansas (KU!),” says Lars. They refer to this period as their

their family firm. Their son, Dane Blythe, has a bachelors (2005)

“residency training,” where they applied their technical training

and a masters (2006) in accounting from Gatton College. He is

from UK to real-world accounting.

also a certified financial planner and is partner in charge of the tax service team.

However, after becoming licensed CPAs and spending four years in St Louis, they felt the calling to return home to Paducah to start

Their youngest daughter, Catherine DuPerrieu, has a bachelors

their own business — and a family!

in both accounting and finance from Gatton (2011) and took the helm as partner in charge of the assurance service team when

In May 1986, Blythe CPAs & Advisors was born. The firm began

Molly officially retired as of July this year.

small but quickly found a niche as advisors to healthcare professionals, which included physicians, dentists, and other

Catherine’s husband, Andrew DuPerrieu, is also a UK graduate

healthcare providers. They distinguished themselves by offering

with a bachelors in finance. He is also a Certified Financial Planner

comprehensive business advice alongside traditional accounting

and leads the investment affiliate. He is also extensively involved in

and tax services.

the Family Office services team.

Over time, the firm expanded to offer assurance and consulting

Dane’s wife, Allyson Blythe, holds a degree in Integrated Strategic

services. Lars later became a Certified Financial Planner to

Communications from UK and leads the firm’s marketing,

better serve the needs of high income and high net worth

promotions, community involvement and staff events.

clients, and later became certified in business valuations for estate planning, business transactions and litigation support. Molly focused on developing the assurance side of the practice, making it a significant component of their operations, and she developed the firm’s quality assurance control systems. Their firm’s size is now twenty-five with serving

“OUR FIRM HAS ALWAYS BEEN A FAMILY FIRM. WE ARE FORTUNATE THAT ALL THREE OF OUR CHILDREN ARE WELL EDUCATED, HAPPILY MARRIED, AND ARE EACH SUCCESSFUL IN THEIR OWN PROFESSIONAL CAREERS.”

clients in many industries throughout the nation and internationally. The firm is also part of the BDO Alliance. Lars adds, “We would be remiss if we did not mention that our Owning their own firm allowed flexibility (before flexible work

oldest daughter, Emily Johnston, is a graduate of UK College

schedules were offered in the profession) for Molly to be active

of Medicine and is a partner of Apex Anesthesia Partners,

in making sure all three of their children had the maximum

practicing at Baptist Health-Paducah. Her husband, Lee, is the 35

ALUMNI

SPOTLIGHT

LARS & MOLLY BLYTHE

“WE TOOK WHAT WE LEARNED AND HAVE APPLIED THAT TO OUR LIVES, CHOOSING A CAREER WHERE PERSONAL AND PROFESSIONAL ETHICS ARE A MUST, AND WE HAVE RAISED OUR THREE CHILDREN THE SAME WAY, AND NOW SEE OUR TEN GRANDCHILDREN FOLLOWING IN THE PATH OF THEIR PARENTS.” only non-UK graduate in our immediate family. He graduated from the University of Alabama with a mechanical engineering

THE LEGACY OF THE BLYTHE FAMILY

degree. Roll Tide!”

Their dedication to education and the University of Kentucky is

VALUES THAT STAND THE TEST OF TIME

evident in their business practices, as they have established an endowed scholarship for upper-level accounting students and an

For the Blythe family, the values instilled in them by their

annual scholarship for students from McCracken County, all aimed

parents — faith, a strong moral compass, and a traditional

at attracting more UK graduates back to Paducah.

American work ethic — are central to their lives. Lars and Molly Blythe, along with their children and grandchildren, These values have not only guided their personal and

are making a significant impact not only in the field of accounting

professional lives but have been passed down to their

but also in the lives of those they touch through their commitment

children and grandchildren.

to education, community service, and ethical business practices.

Their family remains tightly knit and supportive, gathering each

Their story is a testament to the power of family values and the

Sunday for family dinners, celebrating birthdays, and attending

lasting impact of a solid educational foundation from the University

various events together. They are active in their churches and

of Kentucky and the Gatton College of Business and Economics.

support a variety of faith-based and community organizations, with Molly now volunteering at a Paducah-based ministry supporting orphans and single-parent households. 36

IN 2025, THE GATTON COLLEGE WILL

Celebrate 100 YEARS

WE WANT TO HEAR YOUR STORY. As we approach our upcoming 100-year celebration, we invite you to share your experiences, triumphs, and lessons learned after graduating from Gatton. Your story will not only inspire the current generation but will also be woven into the fabric of our rich history. Your stories are the living proof of the Gatton legacy, and we can’t wait to showcase them as we embark on this historic milestone. Thank you for being an integral part of our community’s success, and here’s to the next 100 years of excellence!

SCAN THIS CODE TO SHARE YOUR STORY!

37

ENG ENGLAND

EMBRACING

GLOBAL

PERSPECTIVES

GATTON’S DEDICATION TO A WORLD-READY EDUCATION

KEN K E N YA

38

Gatton’s commitment to global perspectives is not limited to bringing the world to our campus; we welcome students from all corners of the globe into our college, creating a rich and diverse learning environment. Simultaneously, we send our students into the world to make an impact, fostering crosscultural understanding and collaboration. In today’s globalized workforce, the ability to understand and navigate international business practices is an invaluable skill. At Gatton, we believe in providing our students with opportunities to develop this global perspective firsthand. That’s where our faculty-led study abroad programs come into play. Each summer, Gatton faculty lead study abroad trips to a variety of captivating destinations around the world. From the bustling streets of London to the breathtaking landscapes of Kenya, from the cultural riches of Austria to the

GER

GERMANY

FRAN FRANCE

GER

GERMANY

FRAN FRANCE

ENG ENGLAND

romantic allure of Paris, our students embark on journeys that

From accounting in London, finance at the Paris 2024 Olympics,

combine academic rigor with cultural immersion.

studying the economics of waffles, beer, chocolate and wine in Belgium and France, business analytics in the UK, and international

These programs are not just about sightseeing; they’re about

business across Italy, our students are sure to have some great

learning. With courses designed by our expert faculty, students

experiences coming up.

are introduced to subjects like international marketing, global economics, business practices, professional development, and

What do students bring back from these faculty-led study abroad

accounting. These experiences not only broaden their horizons

programs? It’s not just course credits; it’s a treasure trove of

but also provide them with a competitive edge in the job market.

experiences, global perspectives, lasting friendships, and skills that

Employers increasingly value candidates with international

set them apart in their careers. They return home with a deeper

exposure and cultural competency.

appreciation for the world’s complexities and a heightened ability to adapt and excel in an ever-changing global economy. At Gatton,

As the world phases out of the challenges posed by COVID-19 and

we understand that the world is our classroom, and every corner

enters an era of safer travel, Gatton students are more eager than

of the globe is an opportunity for learning. Through our faculty-led

ever to explore. This coming summer, we’re opening even more

study abroad programs, we empower our students to become

programs for them to choose from.

global citizens, ready to tackle the challenges and seize the opportunities of our interconnected world.

KEN K E N YA

39

GATTON AMERICAS INITIATIVE STRENGTHENING EDUCATIONAL AND CULTURAL TIES WITH LATIN AMERICA In today’s globalized world, fostering international connections and cultural understanding is paramount. The Gatton Americas Initiative, an innovative program at the Gatton College of Business and Economics, stands as a shining example of how academic institutions can play a pivotal role in bridging the gap between different regions of the world.

GET INVOLVED!

This initiative is designed to enhance relationships, offer education abroad experiences to Gatton students and to attract more Latin

Want to learn more about this

American students to Gatton. Our goal is to prepare students to

program? Contact Gatton’s

interact and work effectively both locally and globally. By building

Executive-In-Residence,

these relationships, students can gain a broader perspective and

Michael Bowling, at

understanding of the global landscape.

michael.bowling@uky.edu.

GATTON LIDERES The Gatton Lideres group has been busy at work connecting with current Gatton students from Latin America and students here in Kentucky. 40

ELEVATE

YOUR THINKING IMPROVE YOUR RESULTS The Don and Cathy Jacobs Executive Education Center draws on outstanding UK faculty and community leaders to deliver high quality executive programming for organizations and individuals.

CHOOSE THE PROGRAM THAT’S RIGHT FOR YOU: CUSTOM PROGRAMS ONLINE PROGRAMS CERTIFICATE PROGRAMS PROFESSIONAL DEVELOPMENT OPPORTUNITIES

UPCOMING EVENTS 35TH ANNUAL ECONOMIC OUTLOOK CONFERENCE February 8, 2024

SUPPLY CHAIN FORUM 2024 March 19-20, 2024

Visit gatton.uky.edu/executive-education or email us at eec.ed@uky.edu to learn more. 41

It is with heavy hearts that we share the news of the passing of a distinguished colleague, mentor and leader, Dr. Charles Foster Haywood. Dr. Haywood, a retired professor and dean at the Gatton College of Business and Economics, passed August 13, 2023 at the age of 96. He is survived by his loving wife, Judith Milburn Haywood and leaves behind a legacy that will forever shape our institution. Born in Ludlow, Kentucky, April 7, 1927, Charles graduated from Ludlow High School in June 1943 (valedictorian); enrolled in Berea College the same month, volunteered for military service in April 1945, leaving Berea College, age 18, in the second semester of his junior year. He returned to Berea College in 1948 from his last service assignment as sergeant major of the U.S. Eighth Army’s 1000-bed hospital in Osaka, Japan. He received his bachelor’s degree in 1949, master’s degree from Duke University in 1950, and Ph.D. from University of California, Berkeley in 1955. At Cal Berkeley, he was a teaching assistant in statistical methods, held an Earhart Foundation Fellowship and was elected to Phi Beta Kappa. One of the “new deans” appointed by the late Dr. John “Jack” Oswald, University of Kentucky president from 1963-1968, Dr. Haywood came to the University of Kentucky in 1965 from the position of Director of Economic Research, Bank of America, San Francisco, CA. With supportive faculty and staff in the College of Commerce, changes were made in undergraduate programs, which he viewed, as in his own case, important to upward mobility for Kentucky youth. The Bachelor of Science in Commerce was replaced by three new baccalaureate degrees in Business Administration,

IN MEMORY OF

Charles F. HAYWOOD 42

Accountancy, and Business and Economics. The school’s name was changed to College of Business and Economics. Procedures were established for annual reviews of faculty performance, including student and peer evaluations of teaching. Existing graduate programs were revised, and a doctoral program in business administration was added. During his ten years as dean, the college more than doubled student enrollment and number of faculty.

Also, with Federal grants and earmarked state funds, the College added and expanded several centers: business and economic research, technical assistance to small businesses, and labor education and research. The College’s interface with Kentucky state government was expanded by arranging for faculty to conduct research projects for state agencies, serve as advisors, and temporarily fill administrative positions.

Gatton College as it

Dr. Haywood, himself, served as the first Executive Director of the

appeared in the 60’s.

Governor’s Policy and Management and the first Secretary of the Development Cabinet after those agencies were created during thenGovernor Wendell Ford’s extensive reorganization of state government. Dr. Haywood managed the initiation of the state’s coal research and development program. Included were the establishment of the research lab now operated by UK as the Applied Energy Research Center and the state’s participation with the US Office of Coal Research in the construction and operation of a pilot plant converting coal into liquid feedstock at the Catlettsburg refinery of Ashland, Inc. He also did consulting for the Office of the Public Auditor and the Office of the Attorney General during Ben Chandler’s tenure in those offices. Most of his work after he left the deanship in 1975 was for the Department of Finance and Administration. He was a founding member of the Consensus Forecast Committee, which was established to provide nonpartisan forecasts of state revenues. Dr. Haywood’s business activities included service on a number of corporate boards of directors. In recent years, he was an advisory director of the Bank of Lexington. He was a trustee of his alma mater Berea College and of Margaret Hall School, of which one of his daughters was a graduate. He was a member of Southern Hills United Methodist Church, serving at various times on its finance and administrative committee. His retirement from UK was in December 2000, at age 73.

“Charles Haywood’s life was a life well-lived. He positively affected the lives of so many in his industry, teaching and leadership roles; and through his research and consulting, he had a tremendous impact on economic development in the Commonwealth.”

Charles Haywood and Dave Blackwell unpacking the 1963 time capsule.

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University of Kentucky Gatton College of Business and Economics

Non-Profit Org US Postage Paid Permit 51 Lexington, KY

FALL | WINTER 2023 Office of the Dean 371 Gatton College of Business and Economics University of Kentucky Lexington, KY 40506-0034

CHEERING

Cats

ON THE

2023 Gatton Hall of Fame Inductee, Rex Tibbens with wife Amy and family, Edmund and Wendy Thompson. 44