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									         2008 Annual Report for Academic Unit Administrators
              Department of Finance and General Business
                 By: Kent P. Ragan, Department Head

I.   Academic Programs (Undergraduate and Graduate)
      A. Course and Curriculum Changes/Additions
           1. The Financial Planning option on the finance major took effect fall
               2008. At the end of 2008 we had 18 financial planning majors.
           2. A financial planning minor was passed through COBA Council
               and approved by Faculty Senate and the President in early 2009. It
               should appear in the 2009 – 2010 catalog. Prior to that
               formalization several students filed personalized minors in
               financial planning.
           3. Catalog descriptions and prerequisites were changed on several
               courses to maintain currency.
           4. The General Business, Finance, and Risk Management/Insurance
               Majors were changed slightly to replace QBA 337 with FGB 390
               or 487. FGB 495 and 599 were added into the finance major –
               finance option curriculum.
           5. In concert with the West Plains campus, the General Business
               program in China was streamlined so that students may complete
               the program with the minimum graduation hours of 125.
               Enrollments continue to rise, and multiple-section offers may be in
               the near future.
           6. RIL 350 has been substituted into the Entrepreneurship major on a
               test basis. Hopefully the MGT department will include it as a
               choice against FGB 390 permanently.
           7. FGB 150 was offered via dual credit at several area high schools.
           8. The financial planning program is in the process of being
               submitted to the CFP board for possible board approval. Offering a
               program approved by the CFP Board will allow our students to sit
               for the CFP exam upon successful completion of our financial
               planning program.
      B. Accreditation, Licensure, Certification and Other Outcome Measures
         We continue to support the College of Business Administration’s
         AACSB maintenance of accreditation efforts. We created a program and
         are in the process of submitting it for possible approved by the CFP
         Board that would allow our students to sit for the CFP exam upon
         successful completion of our CFP program. We continue to offer the
         CFA University Scholars Program.
      C. Access
               1) Technology
               We continue to offer FGB 500 online. We began offering FGB 381
               and RIL 211 online during 2008. We offer a variety of courses via
               interactive television, primarily to our General Business majors
         who can earn a bachelor’s degree at West Plains and Neosho (at
         Crowder College).
         2) Off Campus programs
         We have a General Business program in Neosho at Crowder
         Community College. The General Business degree continues to be
         offered at our West Plains campus, and through our campus in
         Dalian, China. We offered FGB 680 Advanced Financial
         Management to our Joplin MBA cohort in SP08.
         3) Other
         The General Business major and minor, the finance major, and
         Legal Studies in Business minor are able to be completed at night.
         We continue to approve qualified high school teachers for dual
         credit offerings of FGB 150. The high school personal finance
         requirement will certainly lead to further dual credit offerings in
         the future. Dual credit offerings of FGB 135 need to be enhanced,
         and will be explored.
         We are investigating ways to offer the General Business degree
         through innovative evening scheduling.

D. Faculty and Student Awards and Recognition– Teaching, Advising, etc.
   Dr. Stanley Leasure earned the College of Business Administration’s
   2007—2008 Outstanding Paper Award—Theoretical Category for his
   article Arbitration of Nursing Home Claims: Oklahoma Goes Its Own
   Way, which recently appeared in the Oklahoma Law Review.

   Dr. Stephen Haggard earned the College of Business Administration’s
   2007—2008 Outstanding Paper Award—Empirical Category for his
   article “Does Voluntary Disclosure Improve Stock Price
   Informativeness?” This paper was co-authored with Xiumin Martin of
   Washington University in St. Louis and Raynolde Pereira of the
   University of Missouri. The paper was recently accepted by Financial
   Management,

E. Undergraduate Initiatives - Honors, International and Undergraduate
   Research, Service Learning, Diversity and Inclusiveness
   We continue to offer FGB 307 Business in Community service learning
   course. FGB co-sponsors the GEP 397 Cultural Diversity course that is
   taught every semester.
F. Graduate Initiatives – Co-Authorships, Theses, Research

   Professor James Scott presented or submitted the following papers with current
   or former graduate students:
   “Proposed Study of the Impact of Corporate Spin-Offs”, at the International
   MBAA 43nd Annual Meeting, April 2-4, 2008, Chicago, IL, with Shweta
   Agarwal, Andrea Thurmond.
           “Binomial Lattice Approach to Health Care Administration Expansion
           Decisions: An Integration of the Quality Chasm and Real Option Models”, at
           the SWFA meeting, February 25-28, 2009, Oklahoma City, OK, with Ashley
           Newton.

       G. Enrollment – Majors and Credit Hours
          As of Fall 2008 FGB had the following numbers of majors:
               Finance:                     433
               Gen. Bus:                    420
               Insurance and Risk Mgt.:      45
                       Total:               898 (China students not included.)

           During 2008 the following number of FGB degrees were conferred:
                Finance:                    129
                Gen. Bus:                    79
                Insurance and Risk Mgt.:     18
                       Total:               226

           During 2008 the credit hour production for FGB courses was:
                Lower Division                  7,194
                Upper Division                10,345
                Grad. Division                  1,080
                       Total:                 18,619


       H. Assessment updates
          During 2008 FGB continued to assess FGB 380 and RIL 231, and began
          to examine how to assess major programs. We also updated our portion
          of the COBA publications database.
          Dr. Kent Ragan along with Dean Bottin, and Dr. Pete Richardson
          (MGT), Dr. John Kent (MKT), and Dr. Dick Williams (ACC) presented
          “Success and Challenges in the Development and Implementation of an
          Integrated Assessment Program: The COBA Experience” at the August
          Showcase on Teaching and Learning on the MSU Campus.

II.   Research and Scholarship
              A. Publications in refereed journals (national; international; other)
                  Thirty-four faculty publications were completed during 2008.
                  When co-authorships within the department are removed, we see
                  24 unique faculty publications, which exceeds the COBA goal of
                  one refereed publication per faculty member per year. Given the
                  diverse disciplines within FGB it is no surprise that a significant
                  number of different journals (21) are represented.
              B. Presentations - (invited; national; international; other)
                  Forth-four faculty presentations (39 when avoiding double-
                  counting within the department) were made at 11 different
                  conferences. Those include the Financial Management
                   Association, Academy of Finance, Academy of Legal Studies in
                   Business, IABPAD, and several regional finance and legal
                   studies conferences.
                C. Efforts to support and promote research
                   In addition to the COBA Dean’s generous support of travel to
                   academic conferences, the FGB Dept. supports faculty travel up
                   to $500 per faculty member. The COBA Dean also provides a
                   financial incentive of $500 per publication to encourage faculty
                   research. The FGB merit guidelines have begun to stress journal
                   quality in addition to quantity.
                D. Faculty and Student Awards and Recognition
                   Drs. Bowdidge, Pettijohn, and Ragan were named Dean’s
                   Distinguished Research Fellows in recognition of their
                   publication of 15 or more refereed articles in the preceding five-
                   year period.
                   Professor Carol Miller was one of two faculty members campus-
                   wide to receive a Foundation Award in Research.
                   Dr. Ragan continued his Dean’s Professorship.
                E. Other Significant research activities are all reported above.

III.   Public Affairs and Community Outreach
                  A. Technical Assistance – Program Evaluation, Strategic
                  Planning, etc.
                      Drs. Pettijohn and Philpot provide personal finance seminars at
                      their churches, and prepared a workshop for high school
                      teachers of personal finance to be delivered in Feb. 2009. Our
                      FGB 307 students provide significant outreach efforts into the
                      community. Our faculty are also frequent contributors to local
                      media outlets when they feature financial matters. Our law
                      faculty are also active the in various Bar Associations that
                      provide “technical assistance” to the community.
                  B. Alumni Activities
                      FGB faculty were actively involved in homecoming and the
                      graduation receptions held prior to commencement. We
                      developed an FGB advisory board during 2008 and had our
                      first meeting at the Tower Club. That committee draws from
                      alumni and other community leaders. We also have a Baker
                      Chair Advisory Committee consisting of insurance
                      professionals.
                  C. Community Programs and Partnerships
                      We added to our record number of grants (11 and counting)
                      from the Spencer Foundation in support of our “Risk Manager
                      in Residence” series.
                  D. Faculty and Student Awards
                      Drs. Ragan, Pettijohn, and Bowdidge were named Dean’s
                      Distinguised Research Fellows.
                 E. Statewide Initiatives
                    As a portion of our State Farm Good Neighbor Citizenship
                    Grant, we are preparing to host high school teachers from
                    across the state at our upcoming training workshops for
                    teachers of the high school personal finance course. The first of
                    these workshops will be offered in February 2009.

IV.   Resource Development, Allocation, Effective and Efficient Management
              A. Faculty –
                       1) Recruiting, Hiring, Mentoring, Faculty Assignments,
                       Tenure and Promotion, Career Paths, etc.
                       Dr. Stan Adamson was named to the Baker Chair of
                       Insurance
                       Assistant Professors Zhang, Haggard, and Witte were
                       reappointed for the 2009-2010 academic year.
                       Dr. James Pettijohn’s request to return to full-time faculty
                       status as a tenured Professor was approved by the Board of
                       Governors at their December 19, 2008 meeting.
              B. Fiscal
                           1) Fundraising and Contracts
                               In addition to our numerous scholarships, and the
                               foundation’s fundraising activities, BKD Wealth
                               Advisors began two new scholarships during 2008.
                           2) Budget Allocation and Management
                               The discretionary portion of the departmental
                               budget is relatively small, but it does provide some
                               ability to fund faculty travel, support research, and
                               support teaching.
                           3) Cost Benchmarking - Delaware and other models
                               The student credit hours per faculty member in FGB
                               exceeds 400 per semester, which is twice our
                               “Delaware Ratio.” This indicates a high degree of
                               faculty productivity, and a need for additional
                               faculty. We filled The Baker Chair of Insurance
                               position internally, thus we need to fill our vacant
                               insurance position. Law faculty continue to be
                               needed.
              C. Equipment, Space, etc.
                       The college Dean has replaced many faculty computers.
                       The Baker Chair purchased new technology for the John E.
                       Patton Classroom (Glass 346) – the primary insurance
                       teaching classroom. FGB has upgraded some printers. Our
                       space utilization has remained quite effective, with some
                       classes being moved to the larger Glass 102. Most major
                       courses are taught in our third-floor classrooms.
V.   Leadership and Management: Challenges and Opportunities
             A. Promoting Initiatives and Avoiding Problems
                 I have supported the revision of the departmental merit
                 guidelines. I have been integral in the curricular proposals that
                 have been submitted .

              B. Faculty Relations – Governance and Consultation
                 I have involved many faculty members in the governance process
                 as we proposed numerous curricular changes. We have had
                 several “track meetings” as we have adopted new prerequisites
                 for various courses. I have interacted with other departments as
                 we choose the course offerings for our China classes. I have
                 taken a keen interest in our newer faculty, including visiting their
                 classes, and providing feedback. I have encouraged them to get
                 involved in University and community service activities.

              C. Working with Staff
                 Academic Administrative Assistants Kim Callahan and Teresa
                 Carl both continue to be willing to help me institute some
                 changes in FGB, and both show tremendous initiative.
   VI.     Individual Professional Accomplishments (Kent P. Ragan – 2008)


                                       Teaching:

My 2008 teaching evaluations were:
Spring: 4.67
Fall: 4.32
2008 mean: 4.50

I attended the Academic Impressions Teaching Evaluation conference in Charlotte, NC,
in June

I conducted numerous planning sessions for the January Showcase on Teaching and
Learning session presented by the Academic Impressions attendees (Charlotte, NC)

Two teaching-related publications are listed in the “Research” section below.


                                       Research:
I received my third Dean’s Distinguished Research Fellow designation for the five-year
period ended April 30, 2008.

I had the following papers published or accepted:
Published: “An investigation of board-certified CFP® programs at universities with
insurance/risk management programs,” with Stanley R. Adamson and James Philpot was
published in Journal of the Academy of Finance Volume 6, Summer 2008, pp. 23-31.

Accepted: “Arbitration of Medical Malpractice Claims: Patient’s Dilemma and Doctor’s
Delight?” with Stanley A. Leasure was accepted for publication in Mississippi College
Law Review Volume 28, 2008 – 2009, pp. 51 – 66.

Reprinted: “University Finance Faculty in the Middle School Classroom: Using A
Portfolio Management Project to Integrate Teaching, Research, and Service,” with David
R. Goodwin, Pamela Herd, Gay A. Ragan, and Kent P. Ragan. Reprinted in Financial
Literacy for Children and Youth, Editors: Thomas A Lucey and Kathleen S. Cooter,
Publisher: Digital Textbooks (2008).

I made two presentations:
“Overseas Studies on the Cheap: Online Tours of the Global Financial World for the
Basic Financial Management Course,” 2008 Annual Meeting of the Financial/Business
Education Association, Hilton Head, SC, with James B. Pettijohn and Gay A. Ragan,
September 2008.
“An investigation of board-certified CFP® programs at universities with insurance/risk
management programs,” with Stanley R. Adamson and James Philpot was presented at
the Academy of Finance meeting, March 2008, in Chicago, IL.
I submitted one paper for conference presentation:
“A Chapter-by-Chapter, Web-based Project for the Introductory Personal Finance
Class,” with James B. Pettijohn and Gay A. Ragan was submitted to the International
Academy of Business and Public Administration Disciplines, January 2009, Orlando, FL.



                                         Service:
University Service:
I was COBA’s representative to the teaching-improvement conference attendees
(Charlotte, NC, June, 2008).

College Service:
I served on the COBA Administrative Team

Departmental Service:
I interviewed insurance candidates at the ARIA meeting in Portland, OR
I chaired the personal finance general education committee.
I formed the FGB Advisory Committee, and we held our first meeting this year.
I chaired the Baker Chair Advisory Committee

Significant Departmental Goals achieved with me as Department Head:
Numerous curricular changes were completed.
RIL 350 was enhanced with new role plays, and was incorporated throughout the
departmental curriculum.
I recruited 15 students for the New York Study in May, 2009 (not held since 2000)
FGB is reaching out to other programs (entrepreneurship, MHA) where we can play a
significant role. FGB 688 was launched for the MHA, and may go online (I think that
there is more opportunity there).
FGB 150 dual credit was launched at several additional high schools.
Denise Dickmann filled our ongoing internship position at BKD Wealth Advisors.
Andrea Thurmond received the first BKD Wealth Advisors Aspiring Financial Analyst
Scholarship.
I have commitments from faculty to serve as internship coordinators for various areas
(e.g. banking, insurance, corporate finance, CFP, CFA) and will encourage more
internship opportunities in the future.
One of my goals is to boost faculty-student interaction. That was furthered this year by a
faculty/student picnic sponsored by FMA and efforts spearheaded by Walt Nelson to
establish the Real Estate Society. Walt held a recruiting event and hosted a Christmas
party in his home.
Jim Pettijohn and Jim Philpot agreed to conduct the teacher workshop for the personal
finance course to be held in February, 2009. This was funded by the State Farm Good
Neighbor Grant.
I encouraged FMA to apply for a University grant to host a finance competition for
students on campus. While that initiative was not funded, we are seeking funding from
other sources so that we can launch the competition.
I am exploring ways to deliver the evening program more efficiently, primarily for
transfer students from OTC.
I continue to work with David Meinert to reexamine the China curriculum.

								
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