Phone: Fisher Hall 842

Transcription

1 CURRICULUM VITAE KAREN HOPPER WRUCK JANUARY 2015 Phone: Fisher Hall 842 Mobile: Neil Avenue Columbus, Ohio Website: APPOINTMENTS EDUCATION The Ohio State University, Max M. Fisher College of Business, Professor of Finance, July 2004-present, Dean s Distinguished Professor, July 2003-present, Senior Associate Dean, March 2013-July 2104, Associate Dean of Graduate Programs, July March 2013, Associate Dean of MBA Programs, May 2003-June 2009, Associate Professor of Finance, July 1999-June Harvard University, Graduate School of Business Administration, Associate Professor, Organizations and Markets Unit, July 1992-June 1999, Associate of the Department of Psychology, July 1998-June 1999, Assistant Professor, Accounting and Control Unit, September 1987-June University of Rochester, Simon Graduate School of Business Administration, Instructor, Department of Finance, Department of Accounting, , Teaching Assistant, , Department of Finance, Organizations and Markets Department. University of Rochester, Simon Graduate School of Business Administration, Ph.D., Finance, Accounting, Economics, 1988, M.S., Applied Economics, Davidson College, A.B. cum laude, Economics, Phi Beta Kappa, AWARDS AND HONORS Mary Ann Williams Award, recognizes an Ohio State University woman who exhibits a extraordinary leadership, Outstanding Elective Faculty Award, full time MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Bostick-Georges Pacesetter Service Award, Fisher College of Business, The Ohio State University, for exceptional service to the College, awarded April Outstanding Core Faculty Award, full time MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Outstanding Core Faculty Award, full time MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Academic Director, Member of Nominating Committee, Financial Management Association, Elected April Two publications (Warner, Watts and Wruck (1988) and Wruck (1989)) recognized as Journal of Financial Economics All-Star papers based on top two papers per volume in terms of citations for papers published between 1974 and 1995, December 2002.

2 Outstanding Core Faculty Award, full time MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Outstanding Faculty Award, Executive MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Westerbeck Graduate Teaching Award, Fisher College of Business, The Ohio State University, for exceptional contribution toward graduate student intellectual and cultural growth, awarded April Turnaround Management Association, Academic Director, 2001-present. Outstanding Core Faculty Award, full time MBA program, Fisher College of Business, The Ohio State University, awarded by MBA class of Beta Gamma Sigma (Business Honor Society), State Farm Companies Foundation Fellowship for Doctoral Dissertation in Business, Earhart Foundation Fellowship for Doctoral Dissertation in Business, American Accounting Association Doctoral Consortium Fellow, University of Rochester fellowship and full tuition waiver, Phi Beta Kappa (Undergraduate Honor Society), Omicron Delta Epsilon (Economics Honor Society), Lunsford Richardson Honors Scholarship, Davidson College, PUBLICATIONS AND WORKING PAPERS Wruck, Karen H. and Yilin Wu, 2014, Liquidity Risk and CEO Incentives, Unpublished Working Paper, Fisher College of Business, The Ohio State University, 12/22/14. Wruck, Karen H. and Yilin Wu, 2009, Relationships, Corporate Governance, and Performance: Evidence from Private Placements of Common Stock, Journal of Corporate Finance, Vol. 15, No. 1, pp Wruck, Karen H., 2008, Private Equity, Corporate Governance and the Reinvention of the Market for Corporate Control, Journal of Applied Corporate Finance, Vol. 20, No. 33, pp. 8-21, based on an original presentation, given at the American Enterprise Institute, Conference on The History, Impact and Future of Private Equity: Ownership, Governance and Firm Performance, November 27, 2007, Washington D.C. Wruck, Eric G. and Karen H. Wruck, 2002, Restructuring Top Management: Evidence from Corporate Spinoffs, Journal of Labor Economics Vol. 20, S176-S218. DeAngelo, Harry, Linda DeAngelo and Karen H. Wruck, 2002, Asset Liquidity, Debt Covenants and Managerial Discretion in Financial Distress: The Collapse of L.A. Gear, Journal of Financial Economics Vol. 64, Wruck, Karen Hopper, 2000, Compensation, Incentives and Organizational Change: Ideas and Evidence from Theory and Practice, Breaking the Code of Change, Michael Beer and Nitin Nohria, eds., Harvard Business School Press, Boston. 2

3 Kaplan, Steven N., Mark L. Mitchell, and Karen H. Wruck, 2000, A Clinical Exploration of Value Creation and Destruction in Acquisitions: Organization Design, Incentives and Internal Capital Markets, Productivity of Mergers and Acquisitions, Steven Kaplan, ed., National Bureau of Economic Research, Conference Volume. Dyck, I.J. Alexander and Karen H. Wruck, 1998, The Government as Venture Capitalist, Organizational Structure and Contract Design in Germany s Privatization Process, European Financial Management. Wruck, Karen Hopper and Michael C. Jensen, 1998, The Two Key Principles Behind Effective TQM Programs, European Financial Management, Vol. 4, Dyck, I.J. Alexander and Karen H. Wruck, 1998, Organization Structure, Contract Design and Government Ownership: A Clinical Analysis of German Privatization, Journal of Corporate Finance: Contracting, Governance and Organization, Vol. 4, pp Weiss, Lawrence A. and Karen H. Wruck, 1998, Information Problems, Conflicts of Interest, and Asset Stripping: Chapter 11 s Failure in the Case of Eastern Airlines, Journal of Financial Economics, Vol. 48, pp Wruck, Karen Hopper and Michael C. Jensen, 1997, Science, Specific Knowledge and Total Quality Management, Journal of Applied Corporate Finance, Summer, Vol. 10. Wruck, Karen Hopper, 1995, Financial Policy as a Catalyst for Organizational Change: Sealed Air Corporation s Leveraged Special Dividend, Journal of Applied Corporate Finance, volume 7, pp Wruck, Karen Hopper and Michael C. Jensen, 1994, Science, Specific Knowledge and Total Quality Management, Journal of Accounting and Economics, Vol. 18, pp Reprinted in The Practice of Quality Management, 1996, edited by Uday Karmarkar and Phillip Lederer, (Kluwer Academic Publishers). Wruck, Karen Hopper, 1994, Financial Policy, Internal Control, and Performance: Sealed Air Corporation s Leveraged Special Dividend, Journal of Financial Economics, Vol. 36, pp Wruck, Karen Hopper, 1991, What Really Went Wrong at Revco?, Journal of Applied Corporate Finance, Summer 1991, pp Reprinted in The New Corporate Finance: Where Theory Meets Practice, 1993, edited by Donald Chew (McGraw Hill). Baker, George P., and Karen H. Wruck, 1991, Lessons from a Middle Market LBO: The Case of O.M. Scott, Journal of Applied Corporate Finance, Spring 1991, pp Reprinted in The New Corporate Finance: Where Theory Meets Practice, 1993, edited by Donald Chew (McGraw Hill). Wruck, Karen Hopper, 1990, Financial Distress, Reorganization, and Organizational Efficiency, Journal of Financial Economics, volume 27, pp Reprinted in Bankruptcy and Distressed Restructurings: Analytical Issues and Investment Opportunities, 1992, edited by Edward I. Altman (Business One Irwin Publishers). Baker, George P., and Karen H. Wruck, 1989, Organizational Changes and Value Creation in Leveraged Buyouts: The Case of O.M. Scott & Sons Company, Journal of Financial Economics, Vol. 25, pp

4 Reprinted in The Challenge of Organizational Change, 1992, edited by Rosabeth Moss Kanter, Barry A. Stein and Todd D. Jick, (Free Press, New York), pp , Performance Measurement, Evaluation, and Incentives, 1992, edited by William J. Bruns (Harvard Business School Press, Boston), and Management Buyouts, 1994, edited by Mike Wright (Dartmouth Publishing Company Limited, Hampshire, England). Wruck, Karen Hopper, 1989, Equity Ownership Concentration and Firm Value: Evidence From Private Equity Financings, Journal of Financial Economics, Vol. 23, pp (Journal of Financial Economics All- Star paper based on top two papers per volume in terms of citations for papers published between 1974 and 1995). Warner, Jerold B., Ross L. Watts, and Karen H. Wruck, 1988, Stock Prices and Top Management Changes, Journal of Financial Economics, Vol. 20, pp (Journal of Financial Economics All-Star paper based on top two papers per volume in terms of citations for papers published between 1974 and 1995). PUBLISHED COMMENTS AND BOOK REVIEWS Wruck, Karen H., 1997, Review of Corporate Bankruptcy: Economic and Legal Perspectives, edited by Jagdeep S. Bhandari and Lawrence A. Weiss, Cambridge University Press, Journal of Finance, volume 52, pp Wruck, Karen H., 1993, Stock-Based Incentive Compensation, Asymmetric Information and Investment Behavior: A Comment, Journal of Accounting and Economics, volume 16, pp EDITORIAL ACTIVITIES Associate Editor: Advisory Editor: Ad Hoc Referee: Journal of Corporate Finance, Journal of Financial Economics, Journal of Financial Research, European Financial Management, Formerly, two terms for Journal of Accounting and Economics. Social Sciences Electronic Publishing ( FEN-Educator Electronic Journal, Organizations and Markets Electronic Journal. Financial Management, Journal of Accounting and Economics, Journal of Business, Journal of Corporate Finance, Journal of Economics and Management Strategy, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Industrial Organization, Journal of Industrial Economics, Journal of Law, Economics and Organizations, Journal of Management Studies, Managerial and Decision Economics, Rand Journal, Review of Financial Studies. LEADERSHIP RESPONSIBILITIES AND SERVICE ACTIVITIES: Fisher College of Business, The Ohio State University. Senior Associate Dean, March 2013-July Leadership responsibility for all degree granting academic programs, responsibility for operating units within the college, oversee special projects and initiatives for the Dean. 4

5 Associate Dean for Graduate Programs, July 2009-March Leadership responsibility for all graduate programs, oversee special projects and initiatives for the Senior Associate Dean. Associate Dean for MBA Programs and Chair of MBA Program Committee, May 2003-June Member, College Executive Committee, May July Member, College Rankings Committee, May July Member, Executive MBA Committee, July July Member, Executive MBA Curriculum Assessment Committee, January July Member, Peer Review and Teaching Assessment Committee, September July Primary faculty lead and organizer for Annual Fisher First Year MBA Case Competition, Annual Big 10 Case Competition and primary faculty advisor to most MBA student case competition teams (roughly 6 or more per year). Faculty advisor to the following student clubs and organizations: MBA Student Council, MBA Finance Association, MBA Strategy and Consulting Club, Fisher Graduate Women in Business. Member, The Ohio State University NCAA Recertification, Fiscal Responsibility Committee, March 2002-March Member, MBA Program Committee, 1999-May 2003 (became committee chair at that time). TEACHING, COURSES AND CLASSROOM MATERIALS TEACHING AND COURSE DEVELOPMENT: Corporate Finance 4: Special Topics in Corporate Finance, elective course in MBA curriculum, Max M. Fisher College of Business, The Ohio State University, Corporate Finance 3: Value Creation through Corporate Restructuring, elective course in MBA curriculum, Max M. Fisher College of Business, The Ohio State University, Corporate Finance 2: Mergers and Acquisitions, elective course in MBA curriculum, Max M. Fisher College of Business, The Ohio State University, Advanced Corporate Finance, elective course in MBA curriculum, Max M. Fisher College of Business, The Ohio State University, Managerial Economics: Organizations, Markets and Management, required MBA course in full time MBA program and executive MBA program, Max M. Fisher College of Business, The Ohio State University, Microeconomics Review, non-credit short course for full time MBA students and executive MBA students taken prior to their enrollment in the full time program, The Ohio State University, Coordination, Control and the Management of Organizations, course head for elective course covering topics in corporate control, restructuring and organization design with total enrollment of approximately 550 students. The course emphasizes the development and application of a theory of organizations with foundations in applied microeconomics, financial economics and psychology. For second year MBA students, Organizations and Markets Unit, Harvard Business School,

6 Elective mini-courses and sessions in executive education programs, Harvard Business School, First Year Control, required course for first year MBA students, Harvard Business School, Theory of Finance and Corporate Financial Policy, elective course for MBA students, Simon School of Business, University of Rochester, Cases in Finance, elective course for second year MBA students, Simon School of Business, University of Rochester, Financial Accounting, elective course for undergraduate students, Simon School of Business, University of Rochester, PUBLICLY AVAILABLE COURSE MATERIALS: Jensen, Michael C. and Karen H. Wruck, Coordination, Control, and the Management of Organizations: Complete Package of Course-Related Materials (in Four Documents), April 20, Jensen, Michael C., George P. Baker, Carliss Y. Baldwin, and Karen H. Wruck Organizations and Markets: History and Development of the Course and the Field, by, Dec. 10, 1997 (forthcoming in "The Intellectual Venture Capitalist: John H. McArthur and the Work of the Harvard Business School," , Thomas K. McCraw and Jeffrey L. Cruickshank, eds, (Harvard Business School Press, 1998)). Jensen, Michael C. and William H. Meckling, with contributions from George P. Baker and Karen H. Wruck, Coordination, Control, and the Management of Organizations: Course Notes, by April 20, 1998, Harvard Business School Working Paper. Jensen, Michael and Karen H. Wruck, Coordination, Control, and the Management of Organizations: Course Content and Materials, April 20, 1998, unpublished manuscript, Harvard Business School. Jensen, Michael C., William H. Meckling, George P. Baker, and Karen H. Wruck, with contributions from Carliss Y. Baldwin, and Malcolm S. Salter, Coordination, Control, and the Management of Organizations: Practice Questions, April 20, 1998, unpublished manuscript, Harvard Business School. Wruck, Karen H., Ownership, Governance and Control of Organizations: Course Module Overview Note, Unpublished Manuscript, Harvard Business School, April CLASSROOM MATERIALS: Paine, Lynn S. and Karen H. Wruck, Sealed Air Corporation: Globalization and Corporate Culture Case Series. Sealed Air Corporation: Globalization and Corporate Culture (A), Harvard Business School Case N Sealed Air Corporation: Globalization and Corporate Culture (B), Harvard Business School Case N

7 Wruck, Karen H. and Sherry P. Roper, American Cyanamid Case Series. American Cyanamid (A): Board Response to a Hostile Takeover Offer, Harvard Business School Case (Rev. 12/3/97). American Cyanamid (B): Management s Response to the (A) Case, Harvard Business School Case (Rev. 12/3/97). American Cyanamid (C): Epilogue, Harvard Business School Case (Rev. 12/3/97). Teaching Note, American Cyanamid (A, B & C), Harvard Business School Case American Cyanamid (A & B) Combined, Harvard Business School Case (12/3/97). Wruck, Karen H. and Sherry P. Roper, Cytec Industries Spin-Off Case Series. Cytec Industries Spin-Off (A): Sink or Swim?, Harvard Business School Case (12/8/97). Cytec Industries Spin-Off (B): Managing the Challenges of Success, Harvard Business School Case (2/12/98). Teaching Note, Cytec Industries Spin-Off (A & B), Harvard Business School Case Dyck, I. J. Alexander and Karen H. Wruck, Germany s Evolving Privatization Policies: The Plaschna Management KG, Harvard Business School Case (3/15/95). Teaching Note, Germany s Evolving Privatization Policies: The Plaschna Management KG, Harvard Business School Case Baker, George P., Perry Fagan, Michael C. Jensen and Karen H. Wruck, Value Creation, Harvard Business School Case Baldwin, Carliss Y., Michael C. Jensen and Karen H. Wruck, The Case of the Colored Post-It Notes, Harvard Business School Case (12/6/96). Wruck, Karen H. and A. Scott Keating, Sterling Chemicals Inc. Quality and Process Improvement, Harvard Business School Case (Rev. 12/1/97). Teaching Note, Sterling Chemicals Inc. Quality and Process Improvement, Harvard Business School Case (Rev. 12/1/97). Wruck, Karen H. and Steve-Anna Stephens, Safeway, Inc. s Leveraged Buyout Inc. Case Series. Safeway, Inc. s Leveraged Buyout (A), Harvard Business School Case (Rev. 12/1/97). Safeway, Inc. s Leveraged Buyout (B), Harvard Business School Case (Rev. 12/1/97). Safeway, Inc. s Leverage Buyout (C): Media Response, Harvard Business School Case (Rev. 12/1/97). Teaching Note, Safeway, Inc. s Leverage Buyout (A), (B) and (C), Harvard Business School Case (Rev. 12/1/97). Wruck, Karen H., Revco D.S. Inc Case Series. Revco D.S., Inc. (A), Harvard Business School Case (Rev. 12/5/97). Teaching Note, Revco D.S., Inc. (A), Harvard Business School Case (Rev. 12/5/97). Revco D.S., Inc. (B) and Zell/Chilmark Partners, with Perry Fagan, Harvard Business School Case (Rev. 12/5/97). Teaching Note, Revco D.S., Inc. (B) and Zell/Chilmark Partners, Harvard Business School Case (rev. 12/5/97). 7

8 Wruck, Karen H., Sealed Air Corporation Case Series. Sealed Air Corporation s Leveraged Recapitalization (A), Harvard Business School Case (Rev. 12/5/97). Sealed Air Corporation s Leveraged Recapitalization (B), Harvard Business School Case (Rev. 12/5/97). Teaching Note, Sealed Air Corporation s Leveraged Recapitalization (A) & (B), Harvard Business School Case (Rev. 12/5/97). Baker, George P. and Karen H. Wruck, The O.M. Scott & Sons Company, Harvard Business School Case (Rev. 9/28/90). Teaching Note, The O.M. Scott & Sons Company, Harvard Business School Case Jensen, Michael C. and Karen H. Wruck, Fighton Inc. Case Series. Fighton, Inc., (A), Harvard Business School Case (Rev. 10/1/92). Fighton, Inc., (B), Harvard Business School Case Teaching Note, Fighton Inc., (A) & (B), Harvard Business School Case Wruck, Karen H., Siemens Electric Motor Works Case Series. Siemens Electric Motor Works (A): Process Oriented Costing, with Robin Cooper, Harvard Business School Case (Rev. 6/28/93). Teaching Note, Siemens Electric Motor Works (A): Process Oriented Costing, with Robin Cooper, Harvard Business School Case (Rev. 1/7/93). Siemens Electric Motors (B): Pricing Interdivisional Sales, Harvard Business School Case (Rev. 12/27/89). Teaching Note, Siemens Electric Motor Works (B): Pricing Interdivisional Sales, Harvard Business School Case (Rev. 3/1/89). Siemens Electric Motor Works (A) and (B) Combined, Harvard Business School Case SEMINARS, PRESENTATIONS AND PROFESSIONAL SERVICE (PARTIAL LISTING) SEMINARS AND SYMPOSIA (IN ALPHABETICAL ORDER): American Enterprise Institute. Arizona State University, W.P. Carey School of Business. Atlanta Finance Forum (Atlanta Fed, Emory, Georgia State, Georgia Tech). Boston College, Wallace E. Carroll Graduate School of Management. Columbia University, Columbia Business School. Dartmouth College, Amos Tuck Graduate School of Business. Davidson College, Seminar series for senior economics majors. Drexel University, LeBow College of Business, Conference on Corporate Governance. Emory University, Goizueta School of Business. Financial Economics and Accounting (FEA) Conference. Harvard University, Graduate School of Business. Indiana University, Kelley School of Business. National Bureau of Economic Research, Corporate Finance Meetings (seminar presentation, discussant at various conferences). 8

9 Northwestern University, J. L. Kellogg Graduate School of Management. Rutgers University, Conference on Capital Structure. Southern Methodist University, Edwin L. Cox School of Business. The Ohio State University, Max M. Fisher College of Business. Turnaround Management Association, New York, New York. University of Cincinnati, College of Business. University of Georgia, Terry College of Business, Journal of Corporate Finance Conference on Corporate Control. University of Maryland, Smith College of Business, Symposium on Compensation and Incentives. University of North Carolina, Chapel Hill, Kenan-Flagler Business School. University of Oklahoma, College of Business Administration. University of Pittsburgh, Katz Graduate School of Business. University of Rochester, Simon Graduate School of Business Administration (seminars, Symposium on Total Quality Management, Symposium on Managerial Incentives and Corporate Performance). University of Southern California, Marshall School of Business Administration. University of Virginia, Darden Graduate School of Business Administration. Virginia Polytechnical Institute, Pamplin College of Business. Financial Management Association, elected Academic Director, Financial Management Association, Program Chair for Corporate Finance Track, 2003 Annual Meetings. Responsible for selecting program committee, overseeing paper review process, revising assessment of papers by outside reviewers and organizing accepted papers into over 50 sessions. Turnaround Management Association, Academic Director, 2001-present. American Economics Association (paper presentations, discussant at various conferences). American Finance Association (paper presentations, discussant at various conferences). Western Finance Association (session organizer, paper presentation, discussant at various conferences). 9