Six Darden Faculty Members Appointed to Research Chairs

18 September 2012

University of Virginia Provost John Simon confirmed the appointments of six U.Va. Darden School of Business faculty members to research chairs. The University of Virginia Board of Visitors also appointed one of the six, Frank Warnock, to professor of business administration.

The appointments went to the following professors:

Saras Sarasvathy was re-appointed to the Isadore Horween Research Chair, which was established in 1990 and funded by the late Ralph Horween and his son, Frederick Stow (MBA ’58). The chair supports research in the area of launching and managing small businesses and honors Horween’s father, who founded Horween Leather Company in 1905. Ralph Horween was a former National Football League player and attorney. Stow is president of the Houston-based Sheringham Corporation. The gift was made in memory of Horween’s wife and Frederick Stow’s mother, Genevieve Brown Horween, who died in 1988.

Sarasvathy teaches the electives “Entrepreneurial Thinking” and “Starting New Ventures.” She is a prolific researcher who has published two books and over 30 peer-reviewed academic papers in such prestigious journals as The Journal of Business Venturing, the Journal of Marketing, Entrepreneurship Theory and Practice, and the Academy of Management Review. Her innovative, award-winning work on the concept of effectuation has received global acclaim.

Tom Steenburgh was appointed to the John L. Colley Research Chair, which was made possible by an anonymous donor and other generous benefactors. It was created in honor of faculty member John L. Colley Jr. to recognize his many contributions to the School and to attract a scholar in the field of business leadership to Darden’s faculty. Colley teaches in both the MBA and Executive Education programs at Darden and has been a member of the Darden faculty since 1967. This research professorship was called the Alumni Research Professorship in Business Administration until 2006.

Steenburgh’s academic research addresses managerial issues in professional selling and sales force management among other areas. He recently published an article in the Harvard Business Review titled, “Motivating Salespeople: What Really Works,” summarizing his work in sales force compensation. Steenburgh also is the author of numerous case studies that are taught in leading business schools around the world.

Greg Fairchild was appointed to the E. Thayer Bigelow Research Chair, which was funded by E. Thayer Bigelow Jr. (MBA ’67). Bigelow also provided funds to support Phase II construction of the Darden Grounds, the Bigelow Research Fellowship and the Batten Entrepreneurial Leadership Fund, among other areas. He served as the Darden Campaign chair and was a member of the Darden School Foundation Board of Trustees and chair of the Darden Alumni Council Executive Committee. The former president and chief executive officer of Time Warner Cable Programming Inc. and president of Home Box Office, Bigelow is managing general partner with Bigelow Media LLC.

Fairchild was recently the lead investigator studying business models and public policy issues in the field of community development finance, an initiative supported by a three-year $850,000 grant from the John D. and Catherine T. MacArthur Foundation. In 2011, he was the only academic named as one of “25 Virginians to watch” by Virginia Business Magazine.

Marc Lipson was appointed to the Robert F. Vandell Research Chair, which was established in memory of Professor Vandell. The Vandell Family, the Darden School Foundation Trustees, alumni and friends created the Robert F. Vandell Research Professorship to support research in finance. This professorship furthers Vandell’s interest in applying financial theory to the marketplace. He was a member of the Darden faculty from 1965 to 1981 and was elected to the Charles C. Abbott Professorship in 1976.

Lipson’s principal area of research is market microstructure – the study of how market design and organization affects price formation and liquidity. His work has been widely published, including articles in The Review of Financial Studies, the Journal of Finance, and the Journal of Financial Economics.

Raj Venkatesan was reappointed to the Bank of America Chair, which was funded by a gift from Bank of America (formerly NationsBank). In addition to financing this chair in the Darden School of Business, the same gift created an endowed scholarship and a professorship in the McIntire School of Commerce. The gift was awarded under the leadership of Randolph W. McElroy (CA&S ’57), a former president of NationsBank Virginia. It is the largest among many gifts from NationsBank to the University. McElroy retired in December 1995.

Venkatesan’s research focuses on developing customer-centric marketing strategies that provide measurable financial results. His research awards include the Don Lehmann Award for the best dissertation-based article published in the Journal of Marketing and Journal of Marketing Research.

Frank Warnock was reappointed to the Paul Hammaker Professorship, which was funded by Landmark Communications, Walter R. Witschey (MBA ’65), an anonymous donor and the Darden School sponsors. The professorship honors Paul M. Hammaker, who served on Darden’s faculty from 1962 to 1973, and is a lasting expression of the respect and gratitude accorded him by his students. On his retirement, Hammaker was named senior fellow of Darden’s Olsson Center for Applied Ethics.

Warnock is an expert on international capital flows, international portfolio allocation and financial sector development. His publications have appeared in a number of journals including The Quarterly Journal of Economics, The Review of Financial Studies and the Journal of Accounting Research. Warnock is also a research associate at the National Bureau of Economic Research in Cambridge and a senior fellow at the Globalization and Monetary Policy Institute at the Federal Reserve Bank of Dallas.

About the University of Virginia Darden School of Business

The University of Virginia Darden School of Business delivers the world’s best business education experience to prepare entrepreneurial, global and responsible leaders through its MBA, Ph.D., MSBA and Executive Education programs. Darden’s top-ranked faculty is renowned for teaching excellence and advances practical business knowledge through research. Darden was established in 1955 at the University of Virginia, a top public university founded by Thomas Jefferson in 1819 in Charlottesville, Virginia.


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