The study identifies the world’s leading researchers and encompasses standardized data on citations, h-index, and a wide range of bibliometric indicators. Researchers are classified into 22 scientific fields and 174 sub-fields, drawing from Scopus data provided by Elsevier through ICSR Lab.

“Our faculty are more than educators – they are pioneering thought leaders shaping industries and redefining the future of business,” shared Gareth James, John H. Harland Dean of Goizueta Business School. “They tackle today’s most pressing challenges and uncover tomorrow’s greatest opportunities, driving positive impact throughout industry and the world.”

Introducing the World’s Top 2% Scientists

EmoryBusiness.com is proud to recognize these distinguished Goizueta faculty members among the top two percent of scholars in the world:

• Anandhi Bharadwaj, Goizueta Endowed Chair in Electronic Commerce and Professor of Information Systems & Operations Management

• Tarun Chordia, R. Howard Dobbs, Jr. Chaired Professor of Finance

• Ilia Dichev, Goizueta Foundation Chair in Financial Reporting, Professor of Accounting, and Director and Associate Dean of PhD Program

• Gareth James, John H. Harland Dean of Goizueta Business School and Professor of Information Systems & Operations Management

• Sandy Jap, Sarah Beth Brown Professor of Marketing

• Narasimhan Jegadeesh, Dean’s Distinguished Chair of Finance

• Wei Jiang, Asa Griggs Candler Professor of Finance and Vice Dean for Faculty and Research

• Jay Shanken, Professor Emeritus (2024) in Finance

• Jagdish Sheth, Charles H. Kellstadt Chaired Professor of Business

Insights from Goizueta’s Distinguished Faculty

As leaders in their respective fields, our distinguished faculty members bring a wealth of knowledge, experience, and passion to Goizueta. Their journeys to academic excellence and global recognition are a testament to the school’s impact on both personal and professional growth.

EmoryBusiness.com connected with these professors to discuss their motivations, experiences, and the pivotal moments that have shaped their success.

Anandhi Bharadwaj

Q: What inspired you to choose Goizueta?

A: When I joined Emory in 1994, the business school was not yet named Goizueta—it was simply Emory Business School. At that time, Professor Benn Konsynski was the only other faculty member in my field, Information Systems, and it was his invitation and vision that initially drew me here. Professor Konsynski’s forward-thinking perspective on digital technology and its transformative role in the business world deeply resonated with me. His guiding vision not only inspired me to join the school but also fostered an environment that has kept me motivated to contribute to Goizueta’s growth and evolution over the years. The school’s commitment to innovation and excellence has only solidified my decision to remain a part of this vibrant community.

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: Goizueta has been an incredible source of support throughout my academic career, providing both tangible and intangible resources that have significantly contributed to my success. On a tangible level, the school’s commitment to fostering a research-driven ecosystem has been invaluable—offering resources such as summer salary support, access to specialized databases, funding for conference travel, and more. On an intangible level, the vibrant academic community at Goizueta has been a constant source of inspiration. The flourishing PhD program has allowed me to collaborate with some of the brightest doctoral students, while the broader Emory network and the research ecosystem in Atlanta, with its concentration of world-class scholars across universities, have undoubtedly enriched my research journey.

Tarun Chordia

Q: What inspired you to choose Goizueta?

A: I moved from Vanderbilt University to Emory as an assistant professor in summer 2000. At the time Tom Robertson was the Dean and Goizueta was transitioning from a teaching to a research school while still maintaining great teaching. One of Dean Robertson’s goals was to improve the reputation of the finance area. I had a ring-side seat to what was happening in the finance department and in the school in terms of increasing the research focus of the faculty (by starting a doctoral program and subscribing to all the standard datasets). With the support of the Dean as well as the leadership in the university we were able to strategically hire senior people in the finance department such that today we are amongst the top finance departments.

Ilia Dichev

Q: What inspired you to choose Goizueta?

A: It was a combination of things: great university and business school, great group of faculty in my academic area (Accounting), the attraction of Atlanta as a growing, business-oriented city, which is very green and with warm weather year-round. Being appointed to the distinguished position of the Goizueta Foundation Chair of Financial Reporting was definitely a big factor (so, big thanks to The Goizueta Foundation!). Plus, the personal involvement of some key Goizueta people made it happen. Perhaps most importantly, on some gut level it just felt right.

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: My most successful research project after arriving at Goizueta relied on personal access to CFOs of top companies. The dean and the alumni office at the time made most of these contacts possible. Plus, the school has top-notch working conditions all around. I am very grateful to Goizueta for the incredible opportunities to do quality work!

Gareth James

Q: What inspired you to choose Goizueta?

A: Goizueta Business School stood out to me as a premier institution with a compelling combination of strengths. As a Top 20 business school within a Top 20 university, Goizueta offers a world-class environment for both research and teaching. The school has built an exceptional research community, where faculty members not only produce groundbreaking work but also make a tangible impact on the business world.

Beyond the intellectual vibrancy, Goizueta provides strong financial resources that support high-caliber research, including access to top-tier data acquisition, research funding, and a rigorous PhD program. This commitment to advancing knowledge and fostering innovation makes it an ideal place for scholars who seek to push the boundaries of their fields.

Sandy Jap

Q: What inspired you to choose Goizueta?

A: I came to Goizueta 24 years ago after having been on the faculty at MIT. While MIT is an amazing place in and of itself, what attracted me to Goizueta was the possibility of being in a faculty group that really valued and understood the research that I wanted to do. I’m also not a big fan of winter. 

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: While I have had opportunities to leave (I visited Wharton for a year), I have remained at Goizueta because it is less bureaucratic than larger schools and provides important summer and research support that many schools do. Goizueta is an entrepreneurial environment that allows me to take on new initiatives and directions as needed to advance my research. There is also a very supportive alumni base which is always willing to speak in my classes and connect me to the decision makers in their organization who would be willing to support my research with data. 

Jegadeesh Narasimhan

Q: What inspired you to choose Goizueta?

A: I was drawn to Goizueta because of its ambitious vision to become a leader in the field. At the time I joined, the school was making strategic hires of top scholars, strengthening its focus on rigor and academic excellence. Its growing reputation was gaining well-deserved recognition, and the school’s proposed launch of the PhD program underscored a strong commitment to long-term academic leadership. These factors offered an exciting and intellectually stimulating environment—an ideal place not only to advance my research and teaching but also to contribute to Goizueta’s progress toward its ambitious vision.

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: Goizueta’s strong culture of academic excellence provided an ideal environment for impactful research. I had the privilege of working alongside colleagues who are thought leaders in the profession, engaging in stimulating intellectual exchanges. The school’s regular academic seminars brought in leading scholars, fostering a dynamic and enriching research atmosphere. The launch of the PhD program further strengthened this environment, attracting bright students and promoting vibrant research activity.

Additionally, because my research focuses on rigorous empirical testing of theory, Goizueta’s generous financial support for data and research assistance was invaluable in enabling high-quality studies. Importantly, all of us—faculty and students—collectively contributed to enhancing Goizueta’s reputation as a place of excellence. At the same time, we all benefited from its growing visibility, which expanded opportunities for collaboration and increased our scholarly impact.

Wei Jiang

Q: What inspired you to choose Goizueta?

A: It was a privilege to join a finance department already with three Top 2% scholars worldwide, reflecting a strong research environment and an intellectually vibrant community. I valued the opportunity to work alongside faculty whose seminal research I had studied extensively as a PhD student and cited as foundational to my own work. Being part of a department where groundbreaking ideas are developed and advanced was both inspiring and motivating.

Jay Shanken

Q: What inspired you to choose Goizueta?

A: The school, led by Tom Robertson, was committed to taking the (already very good) finance group to the next level and Professor Jegadeesh and I were recruited at the same time. The commitment to faculty research was backed up by a low teaching load for chaired faculty and they made me an aggressive offer. I always enjoyed working with PhD students and the fact that the school would soon be starting a PhD program in finance was definitely a consideration as well. Although Rochester’s Simon School was very strong in those days, Atlanta seemed like it would be a better place to live at that point in my life. All of these factors together resulted in my decision to move to Emory and I enjoyed my many years there. 

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: It was the excellent overall academic environment and colleagues. Specifics like the low teaching load mentioned above and the nice view from my office helped.

Jagdish Sheth

Q: What inspired you to choose Goizueta?

A: There were three specific reasons. First, I wanted to move to the East Coast from the West Coast and in a moderate climate. Second, I did not want commute and wanted to have housing nearby. Finally, Emory University provided opportunities to grow the marketing area with new and innovative programs and recruit young faculty. For example, we focused on Relationship Marketing and became among the top ten marketing departments in the country.

Q: How did Goizueta support your journey to becoming part of the top 2% of scholars worldwide?

A: When I joined the Goizueta in 1991, we were an “up and coming” business school. Both President James Laney and Dean John Robson were committed to invest in professional schools and their graduate programs including the MBA and the Executive MBA programs. They had already recruited senior faculty in Finance and Management and they wanted me to lead the Marketing discipline. Over the past 30 years, Goizueta gave me opportunities both at the Goizueta and the university level to be on several committees including the Personnel Committee and Emory’s inaugural Presidential Advisory Committee (PAC). My professional growth and recognition came from the silent language of Emory culture that states that you belong here. Finally, Atlanta was emerging as a global hub city and many large companies such as Coca-Cola, Delta, UPS and Home Depot were headquartered here. Atlanta is also the capital of Georgia. This allowed me to contribute to policy work especially for the telecommunications industry.

Goizueta faculty are eminent in their respective fields, advancing global knowledge and inspiring further research. Learn more about the research projects driven by our esteemed Goizueta faculty.

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Emory Business is pleased to share the following books written by Goizueta faculty.

Saloni Firasta-Vastani, Associate Professor in the Practice of Marketing & Jagdish Sheth, Charles H. Kellstadt Chaired Professor of Business

Purpose-Driven Pricing: Leveraging the Power of Pricing for Profit and Societal Good

Pricing is often a key strategic tool for increasing profitability, but it can also be used for societal good. This book shows how effective pricing can reduce carbon emissions, promote eco-friendly products, and improve health outcomes and quality of life. Written by experts in pricing strategy, the book connects organizational purpose with practical tools for implementing change through pricing.

Jagdish Sheth, Charles H. Kellstadt Chaired Professor of Business

Artificial Intelligence in Customer Service: The Next Frontier for Personalized Engagement

This edited volume explains how artificial intelligence (AI) can enhance customer service by increasing customer engagement, improving user experiences, and boosting customer and employee well-being. The book addresses these issues through real-world examples. It offers a global perspective on AI in customer service, covering customer well-being, data and technology integration, and customer engagement.

India’s Road to Transformation: Why Leadership Matters

Since gaining independence in 1947, India has been led by 14 prime ministers, some of whom have greatly advanced its socio-economic development. This book highlights how various leaders, inspired by Mahatma Gandhi’s unifying philosophy, have used their influence to improve the lives of Indians through transformative economic and social policies.

Wes Longhofer: Goizueta Foundation Term Associate Professor of Organization & Management

Social Theory Re-Wired: New Connections to Classical and Contemporary Perspectives

This social theory text offers the structure of a traditional print reader with the flexibility of a comprehensive interactive website. It features readings from notable classical and contemporary theorists, organized around core themes such as the puzzle of social order, the dark side of modernity, and identity.

Wei Jiang, Vice Dean for Faculty and Research and Asa Griggs Candler Professor of Finance

Analytics for Finance and Accounting: Data Structures and Applied AI

This book teaches students how to combine AI with accounting and finance data. Instead of starting with programming, the book first introduces domain data, textual features, and relevant use cases. It then covers emerging technologies and how to apply AI and machine learning tools to analyze unstructured financial data, like conference call transcripts and annual reports.

Foundations and Trends® in Finance: Corporate Governance Meets Data and Technology

Corporate governance includes the processes, customs, policies, laws, and institutions that influence how a corporation is directed and controlled. In this booklet, Jiang and Li explore three key themes: the redefinition of information and information asymmetry through big data, blockchain technology’s potential to transform shareholder voting and blur the line between securities and tokens, and the impact of smart contracts on decentralized governance through decentralized autonomous organizations.

Lakshmi Shankar Ramachandran: Associate Professor in the Practice of Finance

Fintech and Sustainability: How Financial Technologies Can Help Address Today’s Environmental and Societal Challenges, featuring a chapter by Lakshmi Shankar Ramachandran

This book overviews fintech applications and their impact on sustainable finance. It explores how financial technologies can boost sustainable investments and corporate decisions, helping to achieve sustainable development goals. Considering practitioner and academic perspectives, it examines how fintech can improve sustainability practices, address potential threats, and discusses policies and regulations to enhance sustainability benefits.

Karl Kuhnert: Professor in the Practice of Organization & Management

The MAP: Your Path to Effectiveness in Leadership, Life, and Legacy

Great leadership isn’t about winning, pleasing people, or holding titles. It’s about making a unique contribution to your family, friends, community, organization, country, or the world. It requires wisdom, courage, and effort; it’s not an automatic result of aging. Based on decades of research on adult development, The MAP explains how we can take control of our growth and accelerate progress in leadership, life, and legacy.

Kuhnert is creating a chatbot to accompany the book with the idea of rereleasing the book with the coaching chatbot to personalize the content for readers.

Goizueta faculty apply their expertise and knowledge to solving problems that society—and the world—face. Learn more about faculty research at Goizueta.

Discover more great reads from Emory authors here.

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Honoring the Leaders of Emory and Goizueta

The Emory Williams Distinguished Undergraduate Teaching Award is presented to faculty members from each of Emory’s four undergraduate schools during commencement every year. “The award celebrates the pinnacle of teaching excellence, honoring faculty who have profoundly impacted their students’ academic journeys,” says Wei Jiang, vice dean for faculty and research and Asa Griggs Candler Professor of Finance. The award was established by Emory Williams, a 1932 Emory College alumnus and longtime trustee, to recognize a record of excellence in undergraduate teaching.

Emory College of Arts and Sciences selects three award recipients, drawn from the humanities, sciences, and social sciences. Each of the other undergraduate schools—Goizueta Business School, Nell Hodgson Woodruff School of Nursing, and Oxford College—selects one award recipient.

The 2024 honoree from Goizueta Business School is Richard Berlin, associate professor in the practice of organization and management.

The remaining 2024 honorees are:

• – Christopher Eagle, associate teaching professor in the Center for the Study of Human Health, Emory College of Arts and Sciences
• – Sarah Fankhauser, associate professor of biology, Oxford College
• – Gillian Hue, assistant teaching professor, Neuroscience and Behavioral Biology program and senior faculty fellow, Center for Ethics, Emory College of Arts and Sciences
• – Brajesh Samarth, teaching professor, Department of Middle Eastern and South Asian Studies, Emory College of Arts and Sciences
• – LisaMarie Wands, associate clinical professor, Nell Hodgson Woodruff School of Nursing

The Provost’s Distinguished Teaching Award

The Provost’s Distinguished Teaching Award for Excellence in Graduate and Professional Education recognizes outstanding scholars who excel as teachers within formal and informal educational settings. “This award honors exceptional teaching and recognizes those who guide their students with passion and expertise,” says Alicia Sierra, director of human resources and diversity.

One faculty member in each of Emory’s seven graduate and professional schools receives the award in recognition of the important role of exceptional teaching in graduate and professional education. 

The 2024 honoree from Goizueta Business School is J.B. Kurish, professor in the practice of finance.

The remaining 2024 honorees are:

• – Lauren Christiansen-Lindquist, assistant teaching professor, Department of Epidemiology, Rollins School of Public Health
• – Thomas W. Elliott Jr., professor in the practice of practical theology and Methodist studies, Candler School of Theology
• – George S. Georgiev, associate professor of law, Emory School of Law
• – Adriana P. Hermida, professor, Department of Psychiatry and Behavioral Sciences, Emory School of Medicine
• – Lori A. Modly, assistant clinical professor, Nell Hodgson Woodruff School of Nursing
• – David A. Steinhauer, faculty, Microbiology and Molecular Genetics Program in the Graduate Division of Biological and Biomedical Sciences, and associate professor, School of Medicine Department of Microbiology and Immunology, James T. Laney School of Graduate Studies

The Keough Awards

The Keough Awards for Service are named after Don Keough, the legendary President of The Coca-Cola Company and a symbol of business excellence. This award is the business school’s highest service award and is awarded to one faculty member and one staff member. Each recipient receives a $2,000 award. “The recipient is a long-term contributor to the school and makes a significant impact or contribution to Goizueta,” says Jiang.

Keough Faculty Award

The recipient of the 2024 Keough Faculty Award is Professor Kristy Towry. Towry has served in many roles within Goizueta over many years. She has served as vice dean and significantly impacted the culture and comradery at the school. Towry also served as the chair of the executive committee, where she initiated a governance structure that has enhanced decision-making and evaluation. She served as a mentor to numerous junior faculty and doctoral students. In addition, Towry has shown true leadership by appealing to others’ values in helping and supporting the school.

Towry is a top researcher and has trained numerous influential students. She is a favorite teacher of hundreds of MBA graduates and has made a lasting contribution to the school.

Keough Staff Award

The 2024 Keough staff recipient is Krystle Arnold-Moore, administrative assistant, BBA program office. She has consistently made an impact since she started at Goizueta in the summer of 2019. Faculty and staff across the school quickly noticed her creativity, as she served as an active division student advisory council member and on the committee to build morale after the pandemic. She has helped other units with programmatic support during staff vacancies, all while continuing to grow her expertise in the BBA program office.

Staff Excellence Award: Collaboration

The staff excellence awards recognize staff who have “gone above and beyond in collaborating with others, managing resources, and overall influence at the school,” says Sierra. Each recipient receives a $1,000 award.

The 2024 recipient of the Staff Excellence Award for Collaboration is Brandi Baker, director of registrar services. Baker has worked tirelessly to accommodate Goizueta’s exponential growth as a school. She collaborates with program offices to meet the needs of faculty, students, and administrators and proactively finds solutions that create a more positive learning environment. Baker is in a position where she has to answer to colleagues across numerous academic programs. She is limited in terms of building capacity, and yet she manages to fit all the pieces together. In her work, she maintains a positive attitude and a “get to yes” philosophy.

Staff Excellence Award: Influence

The 2024 recipient of the Staff Excellence Award for Influence is Ron Harris, director of research computing. Harris has been the backbone of faculty research projects for decades. He helps faculty as a thought partner, sharing the work and thinking through choices. This ability requires a deep understanding of the datasets and faculty research challenges. He uses his data manipulation skills to clean data and make it serviceable for research. He also trains the next generation of scholars, our PhD students, in the use of statistical software. It would be fair to claim that the considerable pace of our research is due to Harris’s support.

Staff Excellence Award: Resources

The 2024 recipient of the Staff Excellence Award for Resources is Robin Dittmann, chief business, analytics, and operations officer. Dittmann has been instrumental in helping strengthen school finances. She has worked toward more efficient staffing levels, streamlined processes, and new policies to facilitate efficient resources by faculty and staff. She does so with expertise and transparency that instills confidence in the community.

Department Distinguished Teaching Awards

Emory and Goizueta also award those of exceptional academic excellence in each department. These awards go to individuals who represent their departments with outstanding education and lead the professionals of tomorrow. We would like to recognize them here.

• – BBA Distinguished Educator: Emily Bianchi, Goizueta Foundation term associate professor of organization and management.
• – Evening MBA Distinguished Core Educator: Omar Rodríguez-Vilá, professor in the practice of marketing.
• – Evening MBA Distinguished Elective Educator: Kevin Crowley, associate professor in the practice of finance.
• – Full-Time MBA Distinguished Educator: JB Kurish, professor in the practice of finance.
• – Full-Time MBA Distinguished Educator: Marina Cooley, assistant professor in the practice of marketing.
• – MS in Business Analytics Distinguished Core Educator: Rajiv Garg, associate professor of information systems and operations management.
• – MS in Business Analytics Distinguished Elective Educator: Emma Zhang, associate professor of information systems and operations management.
• – Master of Finance Distinguished Educator: Kevin Crowley, associate professor in the practice of finance.

We are immensely proud to celebrate the accomplishments of our faculty. Through their transformational work, they push industries forward, prepare the next generation of business leaders, and solve today’s toughest business problems.

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“The Goizueta faculty comprises an outstanding community of accomplished scholars, educators, and leaders,” says Wei Jiang, Asa Griggs Candler Professor of Finance, “They continually push the boundaries of knowledge and best practices.”

Join us in celebrating these faculty members for their recent honors and accolades:

Faculty Books

Gareth James, John H. Harland Dean and professor of information systems and operations Management

An Introduction to Statistical Learning with Applications in Python, Springer, July 2023

Jagdish Sheth, Charles H. Kellstadt Chaired Professor of Marketing

Customer Centric Support Services In The Digital Age: The Next Frontier Of Competitive Advantage, Palgrave Macmillan, Decemeber 2023

Wesley Longhofer, Goizueta Foundation Term Associate Professor of Organization & Management and executive academic director of the Business & Society Institute

Social Theory Re-Wired (3rd edition), Routledge, June 2023

Research and Teaching Awards

Sandy Jap, Sarah Beth Brown Professor of Marketing, is a fellow for the American Marketing Association (AMA) Fellow as of 2023. The AMA gives this distinction to members who have who have made significant contributions to the research, theory, and practice of marketing, and/or to the service and activities of the AMA over a prolonged period of time.

Jap is also the 2023 Journal of Personal Selling & Sales Management James M. Comer Award (2023) runner up for best contribution to Selling and Sales Management Theory, received for The Big Open Spaces in Sales Negotiation Research, with Stefanie L. Boyer.

Sergio Garate, assistant professor in the practice of finance and director of the Goizueta Real Estate Initiative, won the Jonathan Welch Award for best case study manuscript at the 2023 North American Case Research Association meeting.           

Panagiotis Adamopoulos, assistant professor of information system and operations management, won the 2023 Goizueta Business School Alumni Award for Excellence in Research. Adamopoulos also won the 2023 Emory University Goizueta Business School Research Grant.

Prasanna Parasurama, assistant professor of information system and operations management, was the 2023 runner up for the Best Responsible Research Award from the Academy of Management OMT.

Melissa Williams, associate professor of organization and management, won the 2023 Goizueta Business School Holland Award for Excellence in Research, the school’s research award at the associate professor level.

Allison Burdette, professor in the practice of business law, was awarded Poets and Quants Best Undergraduate Business School Professors Award.

Wei Jiang, Asa Griggs Candler Professor of Finance, was elected to become the Vice President of American Finance Association (AFA), the premier association for academic finance. She will become President of AFA in 2026.

Community Service

Jesse Bockstedt, senior associate dean for graduate programs and professor of information systems and operations management, joined the board of directors for Georgia Organics Board of Directors in February 2023. He advises the CEO of the nonprofit Georgia Organics and serves on the Finance and Operations committee.

Bockstedt also joined the board of directors for Atlanta Technology Angels in January 2023. In this role, he leads and manages Atlanta Technology Angels with specific committee responsibilities for member education.

Jeffrey Byrne, assistant professor in the practice of accounting and director of master of professional accounting, joined the Board of Advisors for BidBee, LLC in April 2023.               

Peter Roberts, professor of organization and management and academic director of Specialty Coffee Programs in the Business & Society Institute, co-Founded the Research Group for Sustainable and Equitable Specialty Coffee Markets in March 2023. The group is a network of 30+ researchers from more than 25 universities and other organizations.

Tonya Smalls, assistant professor in the practice of accounting has joined the advisory board of Make-A-Wish Georgia as of May 2023.

Andrea Dittmann, Assistant Professor of Organization & Management, was named Co-Director of Research of New Blue in fall of 2023. In this role, she will be leading and cultivating collaborations between researchers and law enforcement fellows aimed at organizational reform and policy change to improve community trust.

Goizueta Business School is proud to present the accomplishments of these and other faculty members within our institution. To learn more about the teaching, specialized research, and core interests of each faculty member, check out our faculty profiles and their related publications. 

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Back in the 1990s, U.S. mega-firm Blockbusters dominated the global market in home movie and video game rentals with just shy of 10,000 stores worldwide, and revenues of $5.9 billion at its peak. In 2000, Blockbusters’ leadership faced a business opportunity: to acquire fledgling streaming company, Netflix, for $50 million. Weighing their options, the board decided to pass. What happened next has been thoroughly documented by business scholars, press, and other media. By 2005, Blockbusters had lost 75% of its market value. Just five years later, the firm went bankrupt. Today, Netflix is valued at around $200 billion.

Boards have a huge responsibility to provide the best counsel possible to CEOs. And in times of disruption, innovation, market volatility, and uncertainty, that counsel should come from as broad a palette of expertise, insight, understanding, and perspective as possible. See the bigger picture, and you are less likely to pass on critical opportunities to shift course, evolve, and expand into new markets. Limit your perspective, restrict the diversity of input, and your decisions are more likely to become reactive. It’s no coincidence that the board advising Blockbuster CEO, John Antioco, was essentially homogeneous—all male, all white, and all of them fundamentally committed to bricks and mortar. It’s little wonder that this board was more resistant to change and innovation.

The lessons of Blockbusters and others are clear. To weather market changes and grow your organization, you need your board members to represent different cohorts, different models, and different points of view. Organizations are increasingly embracing diversity at their very highest echelons in order to capitalize more on its well-understood promise. But progress remains slow.  As recently as 10 years ago, for instance, women made up less than 10 percent of all U.S. corporate boards. Only in 2019 did the proportion of female board members climb north of 15 percent for all U.S. publicly listed companies for the first time.

So What’s Behind this Glacial Pace of Change?

Research by Goizueta’s Asa Griggs Candler Professor of Finance, Wei Jiang, situates the blame squarely on what she describes as “slow turnover”—a sort of inertia in the boardroom that is directly tied to the length of time that incumbent directors remain in their positions.

Board members can enjoy a tenure of 10 years or more, says Jiang, making it hard for firms to introduce new voices and perspectives in a way that is as dynamic and prone to change as market forces. Analyzing two decades’ worth of data from BoardEx and Wharton Research Data Services, Jiang finds that these long tenures compare unfavorably with turnover rates among CEOs for instance.

“Looking at the data, we see that around 25 percent of board directors hold on to their seats for 10 years or more; with 8.5 percent of them remaining in place for up to 20 years. That translates into an average turnover rate of just 8.9 percent for public firms in the U.S., which compares with an annual CEO turnover of closer to 13 percent,” says Jiang.

In other words, you have a situation where only one or two people change within the board over the course of a decade.

Wei Jiang

This slow turnover rate leaves a very narrow door for embracing diversity, Jiang says. With societal and marketplace change radically outpacing the makeup of most boardrooms, it raises difficult questions for organizations wondering if decision-makers elected 10 years ago are still the best qualified for the job today—or tomorrow.

Accelerating Diversity in a Purposeful and Sustainable Way

One measure adopted by firms eager to accelerate board diversity has been the introduction of quotas: pushing diverse candidates beyond their natural representation to meet diversity targets as incumbents retire. But Jiang cautions that this practice is innately unfair to others without a diverse profile.

Quota systems produce results by skewing election processes to favor women, for instance. But you have to ask if this is consistent with a goal of fairness. And whether you end up with one demographic unnaturally overrepresented as a result.

Wei Jiang

There is another dynamic at play within election processes that can change the diversity of the boardroom, but effectively as a sort of unintended consequence, Jiang finds. Proxy fights happen when activist shareholders challenge corporate governance for greater control over organizations. When these kinds of unfriendly contests arise, she says, they impact the turnover rate, leaving the door open for women or underrepresented candidates to come in.

“Again, the data shows that wherever you have a proxy battle contesting elections, turnover effectively doubles. In these situations, you end up seeing the number of women and minority directors increase by around 10 percent. This is a kind of unintended consequence, and not because activist shareholders have a clear-cut diversity mission or agenda.”

And while proxy contests can drive boardroom diversity, they are essentially extreme measures predicated on conflict that can affect morale unfavorably.

To accelerate diversity in a purposeful and more sustainable manner, Jiang recommends instituting voluntary turnover at the board level. She says a good approach might be to cap or limit tenure by introducing what she calls milestones.

“Most companies don’t impose limits on board directorships. And human nature is such that simply inviting board members to nominate themselves or others to stand down voluntarily is probably a big ask psychologically,” she says.

A better option is to have committee members agree to hard or soft caps on terms, and to couch tenure in terms of milestones in order to neutralize any sense of stigma for directors who stand down after a few years.

Wei Jiang

Jiang points to the example of France, where directors lose their “independent” status after a few years. She also cites instances in other European organizations, where directors are required to take a hiatus as shorter terms end, but can stand for re-election in future years—especially where re-election is contingent on competing with alternative candidates nominated by the board.

Regardless of the method, achieving regular turnover is the key to releasing the bottleneck holding women and minority directors from corporate board-level leadership, says Jiang. And it’s imperative to get this right.

“If you don’t increase turnover, you risk becoming too blinkered and homogenous in your perspective from the top. To see opportunities in all of their facets, you need decision-makers from diverse cohorts and different backgrounds. Had Blockbusters been able to see the potential for disruption in the shape of Netflix, who knows how differently their business might have fared.”

Goizueta faculty apply their expertise and knowledge to solving problems that society—and the world—face. Learn more about faculty research at Goizueta. 

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“We continue to develop principled and impactful leaders and entrepreneurs, foster innovation for a data and technology driven world, and grow a global presence fueled by local synergies,” said Gareth James, John H. Harland Dean. “I’m proud of our faculty and staff – and energized about the future of our school and students.”

Impacting Business & Beyond

Faculty and staff contribute to the Goizueta and Emory community, but also have significant impact on society and the broader business world. External awards include:

Karen Sedatole, Asa Griggs Candler Professor of Accounting, was named as an editor to the Accounting Review. Sedatole was also elected to the position of president elect for the Management Accounting section of the American Accounting Association.

Emma Zhang, associate professor of information systems & operations management, was named an elected member of the International Statistical Institute. Zhang was also named an associate editor to the Journal of the American Accounting Association.

Ruomeng Cui, associate professor of information systems & operations management, was a finalist for the 2022 Management Science Best Paper Award in Operations Management for her paper, “Learning from Inventory Availability Information: Evidence from Field Experiments on Amazon.”

Panos Adamopoulos, assistant professor of information systems & operations management, was named as an associate editor at Management Science.

Giacomo Negro, professor of organization & management, was appointed as the senior editor of Organization Science and also received an honorable mention for the Robert K. Merton Award for his paper, “What’s Next? Artists’ Music After Grammy Awards.” Negro additionally served as the principal investigator for the 2022 LGBTQ Southern Survey.

Erika Hall, associate professor of organization & management, was named as an incoming associate editor at the Academy of Management Discoveries.

Dan McCarthy, assistant professor of marketing and Marina Cooley, assistant professor in the practice of marketing were recognized by Poets&Quants’.” McCarthy was also a finalist for the Weitz-Winer-O’Dell Award.

John Kim, associate professor in the practice of organization & management, was designated as one of the top instructors by Coursera for Management Consulting courses.

Vilma Todri, assistant professor of information systems & operations management, was named an associate editor to the Management Information Systems Quarterly Journal, one of the top three leading Information Systems journals.

Tonya Smalls, assistant professor in the practice of accounting, has been appointed to serve on the Inaugural Advisory Board for Make-A-Wish Georgia (MAWGA).

Leading the Future Of Emory and Goizueta

Goizueta Business School and Emory also honor academic professionals and leaders for their dedication to excellence through teaching, content development, experiential learning, scholarly inquisition, and commitment.

“We could not be prouder of our exceptional faculty and staff for their remarkable work and dedication throughout the past year,” says Anandhi Bharadwaj, who will step down as vice dean for faculty and research this summer as Professor Wei Jiang prepares to take on the role. “It has been an honor to work alongside our faculty and staff in developing the school and its programs.”

The recipients of these prestigious honors and awards are listed below:

Rajiv Garg, associate professor of information systems & operations management, was awarded the Provost’s Distinguished Teaching Award for Excellence in Graduate and Professional Education. Garg was also honored as the MSBA Distinguished Core Educator.

John Kim, associate professor in the practice of organization & management, was awarded Emory Williams Distinguished Undergraduate Teaching Award.

Giacomo Negro, professor of organization & management, received the Keough Faculty Award. Negro also received the Jordan Research Award.

Marvell Nesmith, associate dean of academic affairs & instructional design, received the Keough Staff Award.

Marina Cooley, assistant professor in the practice of marketing, was honored as the BBA Distinguished Educator and was also recognized for MBA Teaching Excellence (One Year).

Omar Rodríguez-Vilá, professor in the practice of marketing, was awarded the Evening MBA Distinguished Core Educator and was also recognized for MBA Teaching Excellence (Two Year).

Charles Goetz, associate professor in the Practice of organization & management, was awarded Evening MBA Distinguished Elective Educator.

Ray Hill, associate professor in the practice of finance, was recognized for MBA Teaching Excellence (Classic Faculty).

Alvin Lim and David Sackin were awarded MSBA Distinguished Elective Educators.

Rob Kazanjian, Asa Griggs Candler Professor of Organization & Management, was awarded Executive MBA Distinguished Educator (Core).

Kevin Crowley, associate professor in the practice of finance and Narasimhan Jegadeesh, Dean’s Distinguished Chair of Finance, were awarded MAF Distinguished Educators. Crowley was also awarded Executive MBA Distinguished Educator (Elective).

Giacomo Negro, Melissa Williams and Panos Adamopoulos received Goizueta research awards at the levels of full, associate, and assistant professor, respectively.

Goizueta Business School is proud to present the accomplishments of these and other faculty members within our institution. To learn more about the teaching, specialized research, and core interests of each faculty member, check out our faculty profiles and their related publications. 

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