Posts Tagged ‘Umesh Kumar’

SUNY Canton Opens Wall Street Inspired Business Classroom

Thursday, September 4th, 2014

A $20,000 pledge from Alesco Advisors helps students access and analyze current financial information as part of their business education.

Business students can become savvy investors in SUNY Canton’s new Business Learning Center.

The new learning space in the recently renovated Cook Hall Room 100 features a large interactive touch screen display showing financial indicators and an LED stock ticker displaying real-time stock prices of major companies. The classroom was designed specifically for students taking classes in the Finance, Management, Business Administration and Accounting programs.

SUNY Canton Business

“The space gives our students an opportunity to further explore long and short-term investing practices and their impact on business,” said Jondavid S. DeLong, dean of the school of business and liberal arts. “It certainly enhances the student experience in all of our business-related programs.”

Representatives from the SUNY Canton College Foundation noted that a charitable gift from Alesco Advisors of Pittsford for $20,000 over five years helped create the learning environment. Alesco is a U.S. Securities and Exchange Commission registered investment advisory firm managing $2.5 billion for institutional and high net worth clients.

“We are delighted and proud to assist in the establishment of the stock exchange classroom, as well as the exciting growth of SUNY Canton,” said Todd D. Green, Alesco’s chief investment officer.

The College Foundation also supports the Investment Club, which will operate in the space in conjunction with other Business programs. Investment Club students have the opportunity to invest actual funds in a range of long-term investments and track results to build an asset base to support scholarships.

“The college created the Business Learning Center for students to help provide a hands-on learning experience with investments,” said Assistant Professor Umesh Kumar, a business faculty member who helped design the new classroom.

Improvements were made as part of the Cook Hall renovation project. Across the hall from the investment center, the Funeral Services Administration program has moved into a new chapel and student workspace. The college also recently completed brand-new classrooms on the second floor of the building.

 

About SUNY Canton

SUNY Canton is Northern New York’s premier college for career-driven bachelor’s degrees, associate degrees and certificate programs. The college delivers quality hands-on programs in engineering technology, health, management and public service. Faculty members are noted for their professional real-world experience in addition to outstanding academic credentials. SUNY Canton OnLine offers hundreds of flexible and convenient courses as well as eight exclusively online bachelor’s degrees. The college’s 14 athletic teams compete as provisional members of the NCAA Division III and the USCAA.

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SUNY Canton Professors’ Research Wins Award

Friday, October 19th, 2012

A research paper written by SUNY Canton’s Associate Professor of Criminal Justice Brian K. Harte, Ph.D., and Assistant Professor of Finance Umesh Kumar was recently awarded “Best Paper in [the] Financial Economics Session” at the Academy of Business Research Fall International Conference in Atlantic City, N.J.

Umesh Kumar and Brian Harte

Their paper titled, “The Regulation of the Foreign Corrupt Practices Act and Investor Response,” which analyzes investors’ response to firms that were convicted under the Foreign Corrupt Practices Act (FCPA) of 1977, was presented at the September conference.

In recent years, federal authorities have increased their attention toward firms violating FCPA compliance. If a firm is prosecuted and convicted under FCPA compliance, it affects not only the firm’s business interests but also the shareholders and consumers’ confidence. Their study analyzes 52 firms convicted for violations of the FCPA during 2006-2011.

“A firm operating internationally has to ensure that it doesn’t indulge in bribing a foreign official to seek business opportunities and also maintain a proper system of internal controls,” Harte said.

“Our research shows that investors are wary in making more investments in a convicted firm,” Kumar noted. “In fact, consumer confidence also suffers for these firms as sales growth becomes sluggish.”

The paper has not been published in its entirety yet. Their research paper “Corporate Social Responsibility and Investor Response in the Post-SOX Era” was also recognized as the Southern Journal of Business and Economics Best Paper in Economics at the Academy of Business Research Fall International Conference last year.

The Academy of Business Research is an international society of scholars and practitioners who exchange ideas and collaborate in a conference setting.

Media inquiries should be directed to Gregory Kie, Media Relations Manager, or call 315/386-7527.

 

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Two SUNY Canton Professors Earn Recognition for Research

Thursday, November 10th, 2011

Investors today are more likely to put their money and trust in companies that demonstrate corporate social responsibility, according to two SUNY Canton professors.

A research paper written by Associate Professor of Criminal Justice Brian K. Harte, Ph.D., and Assistant Professor of Finance Umesh Kumar was recently awarded “Southern Journal of Business and Economics Best Paper in Economics.” Their paper titled, “Corporate Social Responsibility and Investor Response in the Post-SOX Era.” was recognized at the Academy of Business Research Fall International Conference in Atlantic City, N.J., in September.

Brian Harte and Umesh Kumar

The paper examines Corporate Socially Responsible (CSR) behavior within convicted Fortune 500 companies and how it has become a cornerstone in corporate America, particularly in the post Sarbanes-Oxley (SOX) Act era. CSR policy encourages companies to take responsibility for their actions and have a positive impact on the environment, consumers, employees, communities, stakeholders and beyond.

 “Corporate Social Responsibility became increasingly important for investors after companies such as Enron came under fire,” Harte said. “The SOX Act was enacted to try and create transparency for investors and curb unethical corporate behavior by providing severe punishments for both criminal offenders and the firms they represent. Before it was enacted, responsibility did not fall on single individuals within companies, but rather on the Boards within those companies. Now, many CEOs and CFOs have taken on the individual responsibilities if something goes wrong so there is a tangible person to assign blame to if need be.”

“Our research shows that companies who demonstrate social responsibility are being rewarded by investors,” Kumar noted. “Convicted firms adopting high levels of CSR behavior, garner more positive investor response in the Post-Sox era.”

The paper has not been published in its entirety yet.

The Academy of Business Research is an international society of scholars and practitioners who exchange ideas and collaborate in a conference setting.

Media inquiries should be directed to Gregory Kie, Media Relations Manager, or call 315/386-7527.

 

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