Newsletters from Adelphi’s School of Business

Welcome New Faculty

• Nitesh Kumar joined the Department of Finance and Economics as an adjunct professor of economics.

In Memoriam

It is with sadness that we share that Samuel M. Natale, DPhil, has died. Dr. Natale was a management professor in the Adelphi University Robert B. Willumstad School of Business from 2004 to 2020.

Publications and Presentations

• Charles Richard Baker, PhD, professor of accounting and law, co-authored “‘Progressive Conservatism’: The Evolution of Paternalism as a Means of Management Control at Michelin,” which was published in Business History. Using archival materials, the authors trace how Michelin combined material care, emotional attachment and symbolic practices to maintain control over its workforce across four periods. The article advances business history debates, first by illustrating how forms of managerial control can survive institutional change by adjusting to new expectations, reconsidering the place of affect, identity and belonging in the history of corporate governance, and second, by offering a long-term perspective on Corporate Social Responsibility (CSR), showing how Michelin’s paternalism prefigured CSR by embedding social concerns into corporate strategy.
• Yue Han, PhD, associate professor of decision sciences and marketing, co-authored “Crowdsourcing Creativity: Support Architectures and Task-knowledge Intensity,” which was published in Technovation. Finding creative solutions to large-scale and complex problems, such as societal challenges, is often hard. Crowdsourcing has emerged as a valuable tool for such challenges, using diverse perspectives from general society to enhance creative problem-solving. The componential theory of creativity highlights creativity-related processes and domain knowledge as key components of creative output. Drawing from this theory, the authors examine how creativity support architectures and levels of task-knowledge intensity influence crowd creativity in crowdsourcing contexts.
• Professor Han also co-authored “Tariff Exposure and Liberation Day Reactions: Initial Evidence from Corporate Filings,” which was published in Economics Letters. On April 2, 2025, President Donald Trump declared “Liberation Day” and reshaped the landscape of global trade (Yilmazkuday, 2025a). Tariff policy is once again at the center of economic debate with recent U.S. trade actions showing how shocks to trade policy can spill quickly into capital markets. This study develops a text-based measure of firm-level tariff exposure using the sections on business operations and risk factors in corporate fillings from 2024.
• James Hazy, EdD, professor of management, authored “Charisma Heuristic as Cognitive Bias: An Informal Category Theoretic Risk Analysis of the Leadership Influence Process,” which was published in Administrative Sciences. The notion of charisma has been an important, albeit mysterious, aspect of leadership research for decades. Traditionally, its definition has centered on an individual who, by virtue of possessing certain traits, skills or behaviors, is considered a natural leader. More recently, however, there has been increasing recognition that charisma is an experience that is actually felt by followers, and therefore perhaps the charisma experience could be better understood by taking a follower’s perspective. This theoretical article addresses this question, taking the perspective of a follower who reports a charismatic experience and asking the following: What are the benefits and risks to the follower who, by assigning “charisma” to the influence of another, effectively surrenders a measure of individual autonomy by becoming a follower of a leader? This article uses ideas from mathematical category theory to explore and demystify the notion of charisma in leadership theory and practice.
• Dr. Hazy was also the invited keynote speaker at the Society for Chaos Theory: Psychology and Life Sciences 34th Annual International Conference in Cincinnati, Ohio. His talk, “Are you an Appreciator? How Reinforcing Twelve Interactions that Create Social Capital Grows Financial Value in Organizations,” described research conducted during his recent sabbatical. Additionally, he participated in three sessions of the Annual Meeting of the Academy of Management, held in Chicago, Illinois:
  • Presented “How Organizations Build Long Term Social Capital Value: The Mechanism of Social Capital Appreciation,” which was nominated for a Divisional Best Paper Award
  • Organized and served as panelist for the symposium “Corruption in the Global Economy at a Tipping Point: How Enhanced Governance, Transparency, and Technologies Can Identify, Measure, and Mitigate Corruption Challenges to the Global Economy”
  • Presented “Defining, Measuring, and Assessing the Value of Social Capital to Individuals and their Organizations: The Promise of AI and Other Emerging Technologies” at a symposium organized by Raghida Abdallah Yassine, PhD, assistant professor of management and academic director, MBA Programs. Gita Surie, PhD, professor of management, was also a discussant.
• Hannah Hu, PhD, professor of finance and economics, co-authored “What’s Trending? Stock-Level Investor Sentiment and Returns,” which was published in the International Journal of Financial Studies. Episodes such as the dot-com bubble and the 2008 financial crisis have underscored the role of investor sentiment in driving asset prices away from fundamentals. When optimism or pessimism dominates markets, prices may deviate substantially from intrinsic values, and rational investors may be unable to fully arbitrage away the mispricing. While related to firm fundamentals, the Bloomberg Twitter Sentiment Score (a direct and high-frequency measure of investor sentiment toward individual stocks, constructed by Bloomberg from social media content sentiment) contains a substantial non-fundamental component. This article decomposes sentiment into fundamental and pure sentiment and shows that return predictability and reversal are primarily driven by the latter.
• Eunji Lim, PhD, associate professor of decision sciences and marketing, is the sole author of “Uniform Almost Sure Consistency of Smoothing Spline Estimators,” which was published in the Journal of Computational and Applied Mathematics. This paper studies smoothing splines, a method for estimating an unknown curve from noisy data while keeping the curve smooth. Although smoothing splines are widely used and known to perform well overall, it has remained unclear whether they stay accurate near the boundaries of the data, where many methods overfit. The paper proves that smoothing splines are uniformly consistent, meaning they recover the true function everywhere, including at the boundaries, as the sample size grows. This fills a long-standing theoretical gap and confirms that smoothing splines remain reliable across the entire domain.
• Dr. Lim also authored “Isotonic and Convex Regression: A Review of Theory, Algorithms, and Applications,” which was published in Mathematics. This paper reviews data analysis methods that help uncover meaningful patterns in complex data while respecting common-sense relationships, such as monotonicity and convexity. By focusing on approaches such as isotonic and convex regression, which improve interpretability and reliability without relying on rigid formulas, the work highlights how these methods support better decision-making across fields like economics, operations and data-driven systems.
• Ganesh Pandit, DBA, professor and chair of the Department of Accounting and Law, authored “Assessing Audit Committee Effectiveness: An Examination of a Sample of Studies From the Recent Years,” which was published in the Journal of Accounting and Finance. Much of the research from the 20th century about audit committee effectiveness (ACE) focused on the use of expertise, independence and authority of audit committees (AC), as was summarized in the DeZoort, et al. (2002) study. However, AC members’ independence and AC’s authority are no longer a matter of choice for any company listed in the U.S. securities markets. Also, many non-U.S. researchers have studied ACE over the recent years. This study examines how the measurement of ACE has changed since the DeZoort study for ACs of companies listed in both the United States and abroad.
• Zahra Sedighi-Maman, PhD, associate professor of decision sciences and marketing, is first author of “Machine Learning Approaches for Improved Understanding of Factors Associated With History of Sport-Related Concussion,” which was published in Risk Analysis. This article presents a data-driven model that integrates perceptual–motor performance, self-reported symptoms and demographics to help identify athletes at higher risk of both initial and recurrent concussions—a step toward personalized prevention and safer sports.
• Dr. Sedighi-Maman was also a panelist in “AI and the Future of Medical Research” at the 4th Annual Meeting of the Minds Symposium: “From Insight to Innovation—AI in Medicine” at New York Medical College. Her presentation, “Can We Predict Drug Side Effects Before They Happen?” showcased how advanced machine learning models built on FDA adverse drug reaction data, combined with patient demographics and drug characteristics, can predict adverse drug reactions, offering a practical pathway to safer prescribing and supporting clinical judgment.
• Raghida Abdallah Yassine, PhD, assistant professor of management and academic director, MBA programs, participated in the 85th Annual Meeting of the Academy of Management, held in Copenhagen, Denmark. Her involvement included:
  • Presenter and discussant for the workshop “Resilience in the Workplace: Lessons from War Survivors for Leadership and Innovation”; discussant for “From the Field to the Classroom: Leveraging AI to Craft Case Studies for Teaching and Research” and “Management Consulting Doctoral Consortium;” and presenter for the paper “Fostering Resilience: Impact of Transformational Leadership Development on Organizational Commitment”
  • With facilitators James Hazy, EdD, professor; Gita Surie, PhD, professor; Alan Cooper, PhD ’95, clinical associate professor; and Laura Messano, associate teaching professor, all of the Department of Management, was organizer of “Integrating AI in Business Education: Developing Domain-Specific Teaching Strategies”

Media Appearances

• Credible, How To Calculate Loan Interest, Robert Goldberg, James F. Bender Clinical Professor of Finance, provides insights on the impact of the pandemic and inflation on interest rates.
• The Hill, Washington’s dysfunction tax is pummeling American borrowers, an op-ed by Robert Goldberg, James F. Bender Clinical Professor of Finance, focuses on the impact of federal interest rate cuts.
• MoneyRates, How can you avoid a monthly maintenance fee? Guide to banking fee-free, Rakesh Gupta, associate professor of decision sciences and marketing, shares his tips for avoiding monthly account fees.
• Quartz, Putting off your job search until next year? Here’s why that’s a bad idea, Robert B. Willumstad School of Business Dean MaryAnne Hyland, PhD, provides tips on taking advantage of the holidays while job searching.
• WalletHub, Zero-Based Budgeting, Ganesh Pandit, DBA, professor and chair of the Department of Accounting and Law, is quoted throughout the piece as an expert on zero-based budgeting.
• GoBankingRates, Things Trump ‘Needs’ To Do for American’s Wallets in 2026, According to Economists, Mariano Torras, PhD, professor and chair of the Department of Finance and Economics, shares what he thinks the Trump administration should do in 2026.
• CNBC, What Zohran Mamdani’s big win means for Main Street business owners, Mariano Torras, PhD, professor and chair of the Department of Finance and Economics, shares his predictions for small businesses in New York City following the mayoral election.
• Newsday, Mamdani wants to raise NY’s corporate tax. Why are Long Island Republicans and business groups worried?, Mariano Torras, PhD, professor and chair of the Department of Finance and Economics, shares his perspective on the potential impact of higher corporate taxes in New York.
• Newsday, What to know about Trump’s idea for $2,000 tariff rebate checks, direct health insurance payments, Mariano Torras, PhD, professor and chair of the Department of Finance and Economics, shares how he thinks these proposals would impact Americans.
• CNBC, Why ‘doorstep taxes’ are making Amazon, DoorDash deliveries more expensive, Mariano Torras, PhD, professor and chair of the Department of Finance and Economics, shares his finance and economics expertise in this story.

• Charles Richard Baker, PhD, professor of accounting and law, co-authored “The Emergence of Bills of Exchange in the Late Medieval and Early Modern Periods in Europe,” which was published in Accounting History.
• Mariano Torras, PhD, professor and chair of finance and economics, authored “Social Benefits of Studying STEM Subjects Are in Retreat,” published March 7 in the Financial Times. He was also quoted in “Mitsubishi is raising prices as tariffs sting U.S. buyers,” “As ‘de minimis’ trade loophole ends Friday, Shein, Temu shoppers could pay a lot more,” ”Student loan debt collection to resume in May. What Long Islanders should know.” “Meat, Egg Prices Soar, but Overall Inflation Slows, Federal Data Shows,” “Is a recession coming in 2025? Long Island economists weigh in.” and “Long Island car dealers, customers nervous about price impact of 25% auto tariffs.”
• Zhimin Huang, PhD, professor of decision sciences and marketing, was recognized as a 2024 Top Scholar by ScholarGPS, placing him among the top 0.5 percent of all scholars worldwide.
• Arthur Liebowitz, clinical associate professor of accounting and law, was quoted on WalletHub in the article, “What Is a Budget?”
• Ganesh Pandit, DBA, professor and chair of the Department of Accounting and Law, shared personal finance guidance in the WalletHub article “Best Credit Cards for Bad Credit.”
• Dr. Pandit also published “Assessing Audit Committee Effectiveness: An Examination of a Sample of Studies From the Recent Years” in the Journal of Accounting and Finance.
• David Machlis, PhD, associate professor of finance and economics, authored “Bound by History, Black and Jewish Unity Matters — Now More than Ever,” which was published April 15 in The Times of Israel.
• Robert Goldberg, James F. Bender Clinical Professor of Finance, shared his economic/finance insights in the Motley Fool post “What is the Federal Reserve?” and in the U.S. News & World Report article “Will the Stock Market Crash in 2025? 6 Risk Factors.”
• Karen Wallace, assistant professor of accounting and law, was quoted in “Senior Living and Taxes: What’s Deductible?,” which published on March 4 in U.S. News & World Report.
• Alan Cooper, PhD ‘95, clinical associate professor of management, was recognized as one of the Most Influential Healthcare Leaders of 2024-2025 by SCALE Healthcare.
• James Hazy, PhD, and Gita Surie, PhD, both professors of management, contributed to a special issue of Nonlinear Dynamics, Psychology, and Life Sciences, co-authoring the introduction and the article “Complexity Control in Artificial Self-Organizing Systems: The Case of Bottom-Up Versus Top-Down Intervention When Managing Pandemic Contagion.” Dr. Surie authored “Emergence of an Industrial Innovation Ecosystem: Renewable Energy in India.”
• Zahra Sedighi-Maman, PhD, associate professor of decision sciences, authored “Prediction of Adverse Drug Reactions Using Demographic and Non-Clinical Drug Characteristics in FAERS Data,” which was published in Scientific Reports.

WSB Alumni on the Move

• John Baloga Jr. ’24, MBA ’25, joined Baker Tilly US as an assurance associate.
• Alma Monreal ’24, MSBA ’25, joined the Tax, Technology & Transformation practice at EY.
• Daniel Pisarevsky ’24, MBA ’25, joined CBIZ as a tax associate.
• Jennifer Wasserman ’06 was promoted to director at Armanino Advisory LLC.

Alumni Awards and Achievements

• Carolina Garcia Chaves ’24, participated in the Bloomingdale’s Employer Industry Challenge in October 2025. Her team won first place.
• Several WSB alumni were named to the Long Island Business News Long Island Business Influencers: Top 100 Long Islanders list.
  • Terri Alessi-Miceli ’85, president and chief executive officer, HIA-LI
  • Carol A. Allen, MBA ’99, president and chief executive officer of People’s Alliance Federal Credit Union
  • Maria P. Conzatti ’88, MBA ’90, EdD, chief administrative officer, Nassau Community College
  • Patrick O’Shaughnessy, DO, MBA ’13, ’24 (Hon.), president and chief executive officer of Catholic Health
  • Tammy Severino, current MBA student, president and chief executive officer, Girl Scouts of Suffolk County
• Peri R. Finkelstein ’22, MBA ’23, presented the TEDx Talk “Always Wanting More & Stepping Out of Line.”
• The following business leaders have joined the Robert B. Willumstad School of Business Dean’s Advisory Board this academic year:
  • Frank Caifa ’88, head of sales and business development, Embrace Partners
  • Joseph Razzano ’95, retired, enterprise software sales director
  • Lisa Scheps, MBA ’09, vice president, L’Oreal DTC Activation, Luxe Division

• Tracy McSorley ’22, MS ’23, has been promoted to senior tax accountant at EY.
• Jashon Singh ’13 has joined Liberis as a partner solutions architect.
• Chitralekha Kar ’18, MS ’19, started a new position as a FSO assurance manager at EY.
• Jennifer Blandeburgo ’18, MBA ’19, was promoted to private assurance manager at PwC in July 2025. She also received the Emerging Leaders Under 30 honor from the Long Island Business News.
• Rachel Foley ’19, MBA ’20, was promoted to private assurance services manager at PwC in July 2025.
• Anthony Hannon ’14, Stan Norwalk ’65 MBA ’68, and Stephen Scelfo ’15, MBA ’16, have been named to the Adelphi University Alumni Advisory Council.
• Pawneet Abramowski, MBA ’08 has been named chair of the Robert B. Willumstad School of Business Dean’s Advisory Board, and Joseph Razzano ’95 has joined the Board.
• Richard Salute ’71, chair emeritus of the Dean’s Advisory Board, received the 2025 Alumni Achievement Award.
• A predictive model created by Tamanno Maripova ’23, MS ’25, reduces dental no-show rates by 40 percent in Kazakhstan.
• Nicole Lobello ’14 joined Ascend as a senior manager for HIRS.
• Jennifer Ashley Blandeburgo ’18, MBA ’19, received a Long Island Business News 2025 Emerging Leaders Under 30 Award and was promoted to private assurance manager at PwC in July 2025.
• Rachel Foley ’19, MBA ’20, was promoted to private assurance services manager at PwC in July 2025.
• Anthony Hannon ’14, Stan Norwalk ’65, MBA ’68, and Stephen Scelfo ’15, MBA ’16, have been named to the Adelphi University Alumni Advisory Council.
• Joseph Razzano ’95 joined the Dean’s Advisory Board.
• Pierce Gierloff, MS ’21, has accepted a position as senior associate at The Siegfried Group in Austin, Texas, in January 2025.
• James Eckersall ’19, MBA ’20, was promoted to assurance manager at PwC.
• Kevin O’Connor ’84 joined Valley Bank as the market president.
• Angelo Pineda ’18, MS ’19, joined KSM as a senior tax associate.
• Lauren Mangiafreno ’19, MBA ’20, was promoted to tax manager at EY.
• Alexander Epelbaum, MD, MBA ’17, was promoted to Market President and Chairman of the Board at Integrated Medical Professionals, PLLC, a subsidiary of Solaris Health, LLC.