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Summer 2004 CalBusiness  
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Feature Story

John O'Brien Honored for Investment Innovations

The man who invented the Wilshire 5000 index and helped launch the Haas School's Master's of Financial Engineering program, John O'Brien, received the 2004 Matthew R. McArthur Award by the Investment Management Consultants Association (IMCA) for his outstanding contributions to the investment consulting profession.

O'Brien, now an adjunct professor at Haas, established the first pension consulting activity based on modern portfolio theory in 1969. After opening his own consultancy, O'Brien Associates, he introduced the O'Brien 5000 index in 1973. Renamed the Wilshire 5000 after O'Brien sold his business, the index is the largest and only comprehensive index tracking the performance of all publicly traded stocks in the US . Today the Wilshire 5000 is worth about $10,275,000,000,000 and directly measures the change in market value of all US stocks.

Jennifer Chatman Wins CMR's Best Paper Award

Jennifer Chatman, the Paul J. Cortese Distinguished Professor of Management, has been honored with the annual Accenture Award, given by the California Management Review (CMR) for 2004.

Chatman and co-author Sandra Eunyoung Cha, a doctoral student at Harvard University , were recognized for their article “Leading by Leveraging Culture.” (CMR Vol. 45, No. 4). The article highlights organizational culture as a force that clarifies priorities, coordinates employee work efficiently, and identifies a firm's distinctive competence. Chatman and Eunyoung Cha also outlined tools for effectively managing and changing organizational culture, such as recruiting and selecting employees who fit existing or desired culture, socializing and training for shared values, and rewarding actions that reflect culture.

David Teece Receives Honorary Doctorate

Professor David Teece received an honorary doctorate from the Copenhagen School of Business on March 19, 2004. Teece is the Mitsubishi Bank Professor of International Business and Finance and director of the Institute of Management , Innovation, and Organization.

Teece's contributions to the theory of the firm and the understanding of the innovation process motivated his selection as this year's honorary doctorate.

In Memorium

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John W. O'Brien

John W. O'Brien
, creator of the Wilshire 5000 index, heads the Haas School 's Master's in Financial Engineering Program.

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