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Five Faculty Named to Endowed Positions
May 2006
STANFORD GRADUATE SCHOOL OF BUSINESS—Endowed chairs for four professors and a lecturer in leadership have been announced at the Stanford Graduate School of Business. Sociologist Hayagreeva Rao and accounting professor David Larcker, both of whom joined the School's faculty in the autumn of 2005, received chairs. David Bradford, a longtime senior lecturer, was named to the newly endowed term lectureship in leadership, and professors Mary Barth and Darrell Duffie were honored with chairs recently vacated by faculty members William Beaver and George Parker. Beaver and Parker will remain involved in the School as emeriti.
The new Eugene D O'Kelly Lectureship in Leadership honors the late 1977 alumnus who was CEO and chairman of KPMG America until he died in 2005 of a brain tumor. O'Kelly "exemplified the leadership qualities that the GSB and Stanford values—talented executive, outstanding volunteer, love of Stanford and the Business School," said Dean Robert Joss in announcing the endowment, which will fund salary and course and case development in support of a non-tenure-line faculty member.
Bradford, who joined the faculty in 1969, began teaching High-Performance Leadership, the first GSB course with the word leadership in its title, two decades ago, Joss said. Besides his popular teaching, Bradford has authored 23 articles and 6 books, and served on editorial advisory boards and as a consultant to boards and organizations.
Rao became the Atholl McBean Professor of Organizational Behavior and Human Resources, a chair created in 1976 to honor McBean, the chair of Gladding McBean and Co., the original maker of Franciscan pottery, and one of the contributors to the initial funding of the Business School. Rao studies the processes and determinants of organizational change, especially how cultural and social forces affect the creation, transformation, and dissolution of social structures. For example, he studied how social activists created Consumers' Union from an existing consumer research group.
Barth, who had occupied the McBean chair, now is the Joan E. Horngren Professor of Accounting. It is the only chair endowed by a current member of the faculty, Charles Horngren, who retired in 1995. The chair, named for Horngren's wife, had previously been held by Beaver. Barth's research deals with "financial reporting issues of great importance to practitioners and regulators," Joss said. Her research is not just U.S.-focused, and Barth is a member of the International Accounting Standards Board.
Larcker was named the James Irvin Miller Professor of Accounting. The author of more than 50 articles in managerial accounting, including the subfields of corporate governance and compensation, he is "widely considered a leading if not the leading scholar in management accounting in the world," Joss said. The Miller professorship was endowed in 1954 by a Stanford-trained engineer who became South American manager of United Press International.
Duffie, who previously occupied the Miller chair, became the Dean Witter Distinguished Professor in Finance, a chair that had been occupied by Parker. The Witter chair was created in 1958 to honor Dean Witter, the founder of the investment banking firm that opened in San Francisco in 1924, the year before the Business School. Duffie's research on credit risk, derivatives, and financial risk management has had a major impact on research and management practices, Joss said. Duffie has authored more than 60 papers and 4 books and consulted with the U.S. Treasury, the Federal Deposit Insurance Corporation, the Federal Reserve, and the U.S. Department of Justice.
