Fuqua's faculty is comprised of leading professors, researchers, and thought leaders who are at the forefront of today's most compelling business issues and challenges. The Center engages and integrates Fuqua's strong faculty in the design and development of its programming.
Below, two Fuqua faculty members discuss their background, research pursuits, and activities with the Center.
John Graham
The Center is adding value to the financial industry by helping to educate students who are well-grounded in the theory of finance and also competent in applying that theory at the practical level. The Center can also facilitate collaboration between practitioners and faculty whose research can address and hopefully solve some real-world financial problems.
What prompted you to first earn your finance Ph.D. and then teach at Fuqua?
Even since high school, I've always loved to teach and work with students. Then, when I graduated from college, I got a job in finance. Though I had no background in the area, I came to love the subject matter. Thus, I decided to couple my love of teaching with my love for finance and became a professor. In particular, I picked Fuqua as it was an up-and-coming school in an exciting place to live and raise my family.
What is your favorite course to teach and why?
My favorite is Corporate Finance. It is an introductory finance course on the corporate side, and the subject matter is the "bread and butter" of finance. The concepts taught in this class can be applied to many electives, and there are many neat applications that come from this subject matter. The class also incorporates fun problem-solving techniques, which I enjoy teaching.
Discuss one of your current research initiatives.
Currently, I am evaluating how companies survived the financial crisis and in particular how their liquidity management helped. As this is ongoing, my research examines where companies are right now and how they will continue to survive and thrive.
How did Fuqua (and you) become involved in the CFO survey? What role does Fuqua play in this research?
Fuqua has contributed to the CFO survey for 58 quarters and running, in which we survey CFOs around the world. Personally, I was given the lead on this project as soon as I came to Fuqua. This survey bridges the gap between finance in academia and finance in practice and illustrates an example of how academic research can inform the practical side and vice versa. My research focuses on this type of practical application, which is how I was able to direct this effort.
Has your current research revealed any notable trends in corporate finance?
With respect to the recent financial crisis, my research reveals that companies that most needed to borrow either were unable to do so or only could at a high cost, whereas companies that did not need to borrow were the ones who were able to do so at a low cost. Thus, while market interest rates have fallen, companies that need to borrow still have the most difficulty doing so. These companies are typically smaller companies and those that are crucial to job creation. Thus, as credit remains tight for small and medium-sized companies, job creation will suffer. This research lends itself to policy implications with a focus on why certain previous government decisions, bail-outs, or backstops occurred while others have not.
How do business schools interact with the financial industry?
The research topics that academics work on are directly linked to the issues in corporate finance. Thus, frequent interaction between professors and practitioners can help all of us come up with better solutions to corporate finance problems. This type of interaction and potential for more informed problem-solving can take place on the capital markets side as well.
How can business schools better bridge the gap between finance as studied and taught in business schools and finance as practiced in the corporate environment?
As it stands, there is not as much overlap between academia and the practical side as there could be. Business schools can and should facilitate this connection. More specifically, the CFE is the mechanism to do just this at Fuqua. The CFE focuses the effort of developing connections and sharing ideas between the academy and the corporate world. Further, the CFE owns the experiential part of the equation that is essential to better bridge this gap.
Describe your work with the CFE. How did you become the faculty co-director for the Center?
Throughout my career, I have repeatedly noticed the need for closer ties and more overlap between the academic and practical sides. Thus, I was very supportive of the center at its creation. As a result of my interest in the center and its objectives, I became a faculty co-director.
In what ways do you feel that the CFE is adding value to the financial industry?
By helping educate students who are well-grounded in the theory of finance and also competent in applying that theory at the practical level. The CFE can also facilitate collaboration between practitioners and faculty whose research can address and hopefully solve some real-world financial problems.
back to topDavid Robinson
I think the Center does a nice job of coordinating research, teaching, and practitioner involvement in order to provide a best-in-class experience for financial education.
What brought you to teach at Fuqua?
We moved here from NYC when my wife and I started a family. For me, the critical consideration was the quality of the research environment and the quality of the students. My wife was concerned with the quality of life for raising kids. Fuqua was the perfect solution.
What is your favorite course to teach and why?
I would say Entrepreneurial Finance. This course does a nice job of taking the tools of corporate finance and putting them to work on real-world examples.
Discuss one of your current research initiatives.
One of my current research projects is working with the Kauffman Foundation to understand how startups access capital markets.
Has your current research revealed any notable trends?
A lot of people have been surprised to learn the extent to which startups rely on bank financing. Typically we think of startups relying on bootstrapping, friends and family and the like, and then later turning to private equity. But startups rely to a surprising extent on bank financing. These facts have become part of the discussion on policy reforms that are intended to spur entrepreneurship.
What responsibilities, if any do you think that business schools have to financial and corporate institutions?
Our role is to first teach smart students cutting edge material with respect to finance. Further, our role is to conduct research that can lead the practical side and improve businesses' operations and profitability.
In what ways do you feel that the CFE is adding value to the world of finance?
I think the CFE does a nice job of coordinating research, teaching, and practitioner involvement in order to provide a best-in-class experience for financial education. By consciously blending these 3 pieces, we can produce students and an institution that separates itself from our counterparts. Business schools do this implicitly, but by focusing on this through the CFE, we can do it better.
What is your favorite part about Fuqua?
Breeden Hall. It does a great job with classroom IT, and it maintains a nice continuity with the rest of the school. Plus, the meeting rooms and the veranda are really nice.