From AI to detecting fraud to supply chains: WMU business faculty’s research applies to industry

For faculty in the college of business, applied research is their forte, and it makes fundamental differences in how businesses are run day to day. Check out some of the work of leading researchers who are moving the needle toward the future of business. 

Combating inflationary pressures: innovative solutions for supply chain efficiency

Dr. Sime Curkovic, professor of marketing

Curkovic’s current research focuses on managing inflationary price risks in supplier-buyer contracts through the use of indexing. The goal is to develop innovative solutions that improve operational efficiency and economic value in supply chain management. By integrating automated systems to handle complex indexing and economic adjustments, the research team aims to reduce manual effort, minimize errors and enhance overall efficiency.

The research has significant applications in the business world. The integration of automation in managing price indexing helps businesses maintain fair and competitive pricing amidst market fluctuations, safeguarding profit margins. It also promotes strategic partnerships between buyers and suppliers, fostering more resilient and adaptive supply chains. For example, tools like N-Alpha’s MaterialX platform automate data collection, perform complex calculations and provide real-time updates—eliminating the need for cumbersome spreadsheets. This allows businesses to respond swiftly to market changes, maintain accurate pricing and focus on strategic tasks rather than repetitive data management.

Inflation is in the news on a daily basis and may be top of mind for Americans going into the upcoming election. Factors such as ongoing supply chain disruptions and volatile commodity prices have driven businesses to adopt economic adjustment clauses in their contracts. This trend aligns with the broader push for the use of artificial intelligence (AI) and machine learning to streamline operations. By integrating technology and automation, Curkovic’s research paves the way for more resilient and efficient supply chains capable of navigating the challenges posed by ongoing inflation and market volatility. His research is heading straight into the classroom, as well; he is using the research results and N-Alpha's platform to better prepare Haworth College of Business students for the job market, equipping them with the skills needed to thrive in modern supply chain environments.

Fintech for the future

Dr. Zag Davaadorj, assistant professor of finance

Davaadorj’s work focuses on financial technology (FinTech) and its impact on modern finance. Specifically, he examines the digital divide, peer-to-peer (P2P) lending, crowdfunding and robotization.

His research helps contextualize the digital divide, aiding businesses and policymakers as they create strategies to ensure equitable access to financial services, which is crucial for economic inclusion. In P2P lending, his findings are relevant in guiding platform design to improve loan accessibility and success rates, particularly for underserved communities. Crowdfunding insights are valuable for entrepreneurs seeking alternative funding sources and for platforms aiming to enhance their effectiveness. Research on robotization informs the development of automated financial services, such as robo-advisors, which can offer personalized investment advice at lower costs.

Discussions at the World Economic Forum 2024, including the TIME100 Roundtable, centered on economic inequality with frequent mentions of the digital divide, emphasizing the need for inclusive financial technologies. Moreover, current trends show millennials as the largest group in P2P lending, reflecting their preference for digital financial services. This demographic shift underscores the growing importance of understanding and optimizing these platforms to meet user needs and drive financial innovation. Davaadorj’s research provides valuable insights into how FinTech can be leveraged to foster innovation, enhance financial inclusion and drive economic growth.

Tired or inspired: regenerative artificial intelligence in fast-moving consumer goods

Drs. Russell J. Zwanka, and Marcel Zondag, associate professors of marketing

Zwanka and Zondag conceptualize a consumer-centric, regenerative artificial intelligence (ReGenAI) model for fast-moving consumer goods (FMCG). The system uses its awareness of context, time and users to (re)generate customer touchpoints and other marketing communications. Its output provides deep insights into regular and altered customer journeys, such as shopping behaviors under stressors like lifestyle choices or socio-economic and weather events. The model uses “tired or inspired” as a simplified classification to translate customers' purchasing behaviors into actionable data. The research applies generative AI concepts in a way that can advance customer connectivity in the food and consumer packaged goods industries. 

Whether shaping food shopping behavior toward healthier choices, understanding the impact of cataclysmic events on long-term behavior, or matching caloric goals with retailer formats, ReGenAI can significantly assist customers through demographic inputs, label comprehension, lifestyle factors and intent. For retailers, the system’s predictions can now become the inputs for sales and demand planning with insights into diet choices or the benefits of personalization now driving assortment, pricing, promotion, and the content and format of customer touchpoints. The result is increased efficiency and effectiveness of retail operations and marketing efforts, a better return on investment and a lifetime of understanding about customers for retailers and brands.

Exploring environmental, social, and governance practice, reporting, and regulation

Dr. Cari Burke-Kolehmainen, assistant professor of accountancy

Burke’s current focus is on accounting-related interdisciplinary research, emerging trends in accounting and accounting education. Two recent publications examine the impact of COVID-19 on nonprofit organizations from an interdisciplinary management and accounting perspective. In response to exponential growth in the area of environmental, social and governance (ESG) practice, reporting and regulation in the business arena, some of her recent research examines ESG in the accounting field.

Her co-authored paper “Sustainability Performance, National Culture, and Corporate Financial Performance” was awarded Best Paper for the 2023 International Conference on Financial Markets & Corporate Finance in Delhi. Her research also focuses on accounting pedagogy, including integrating emerging accounting trends into curricula, such as the response in higher education to the demand for graduates with ESG knowledge.

Research shows social connection leads to success in health goals

Dr. Jiahe (Carrie) Song, associate professor of business information systems

Staying on top of our health can be a daunting task. Whether it is setting health goals, managing a chronic condition or trying to wade through the conflicting advice, it is easy to get bogged down in the details, and we often find ourselves falling short or giving up.

But what if you could harness the power of social media platforms to help you reach your goals? Song’s research delves into this question, with interesting applications for both consumers and health care providers. According to the Centers for Disease Control and Prevention, chronic diseases affect 60% of the American population and are leading drivers of annual health care costs. As social media has evolved, the use of online health communities is democratizing self-care goal management that used to be guided by health care professionals. 

Song and her research partner compiled a unique data set from a leading online health community in the U.S. to uncover the effect of online self-regulation and social support on goal performance for chronic disease self-care. Key findings of the study include:

• Emotional support gathered from an online health community can motivate patients with physical health goals to be more active in the community.
• Receiving informational support can help users generate greater progress and be more active in the online community.
• When patients conduct more online self-reflection about their health practices, they can generate greater progress on their goals.
• It is important for the online health community to actively monitor forums; distracting information leads to decreased goal updates and hampers progress.
• Online health communities can be beneficial in helping patients meet health goals, leading to long-lasting health and lower health care costs.

Inclusive work environments and workplace relationships

Dr. Chen Wang, assistant professor of management

Wang’s research addresses critical and timely issues in organizations. She studies how leaders can create and sustain inclusive work environments where all employees feel they belong and can contribute meaningfully. Her recent research, based on responses by over 45,000 employees, confirms the benefits of remote work due to the autonomy it provides. However, an important factor influencing remote employees’ effectiveness is their feelings of isolation and loneliness.

Her research on this topic received an award at an international conference. It also garnered attention from the media and was recently mentioned by best-selling author and organizational psychologist Adam Grant.

In another line of research, Chen explores various ways to enhance inclusivity in organizations. She focuses on the role of workplace authenticity and the importance of employees feeling they can be true to themselves at work. She examines how leaders can leverage their relationships to be more effective in working with their team members, how to avoid favoritism in the workplace, how chameleon-like individuals—who change behaviors based on situations—interact in the workplace, and how mindfulness benefits all employees.

How fraud and conflicts of interest impact the bottom line

Dr. Kellie Carr, assistant professor of accountancy

Given that an organization’s financial and tax information are pivotal decision-making factors for investors, lenders and other stakeholders, Carr’s research is extremely relevant. Her studies and publications in the areas of accounting and tax, particularly where fraud and conflicts of interest may impact an organization’s financial and tax reporting, have a direct impact on the business world.

With fraudulent business and nonprofit financial and tax reporting continuing in the news, scrutiny of public companies by the Public Company Accounting Oversight Board and U.S. Securities and Exchange Commission has increased. Carr’s recent study “Did PCAOB rules on ethics, independence, and tax services influence financial reporting for income taxes?” was used by the board to make regulatory decisions that enhance the quality of financial statements and mitigate conflicts of interest. 

She has also authored articles that simplify tax law, making it more applicable to a wider audience. Her recent articles in "Oil and Gas Quarterly," for instance, shed light on the practical implications of the 2022 Inflation Reduction Act’s Renewable Energy Tax Credits. In addition, Carr recognizes the importance of tax-exempt organizations and has developed teaching tools to understand and apply the tax rules to maintain an organization’s tax-exempt status. This knowledge also assists in calling attention to and routing out illegitimate tax-exempt organizations.

Data analytics, AI social media and technology

Dr. Kaunchin (KC) Chen, professor of business information systems

One of the college’s most prolific researchers, Chen is the director of the Center for Business Analytics. His primary research interests are in data analytics and data science, artificial intelligence, social media, privacy and trust, and e-commerce. His work crosses the technical, behavioral, and psychological disciplines for topics surrounding AI, internet addiction, technostress (technology associated stress), privacy and trust in technology, social media, electronic word-of-mouth, management decision tools, and educational engagement.

He is part of a WMU team that recently received a grant from the National Science Foundation for research on AI readiness through cyber training. He is also piloting a research and teaching project on AI and student interview skill development. Chen has received numerous awards for his research and teaching. A sample listing of his research articles includes:

• The reasons why people consider an online product review to be useful
• Spammer coordination to sabotage a brand
• How trust in artificial intelligence is formed
• The reasons why people are hooked on short videos (e.g., TikToks, Reels, etc.)
• How social media activities drive foot traffic to retail stores
• Extracting the true user preference in online shopping from long-term user tracking
• Factors driving service quality in ridesharing
• Strengths, Weaknesses, Opportunities and Threats (SWOT) analysis in the eyes of customers
• Helpfulness and sentiment of product reviews
• User satisfaction and "stickiness" in social networking sites
• The effects of proactive personality and technostress on productivity
• Virtual migrations from one social networking site to another
• Social influence and personal expectations in online game playing
• Electronic communication tools and usage scenarios
• Learning of ERP and accounting information systems
• How business innovations are spread with smartphones
• Privacy and trust
• Distance learning and pedagogy

For more WMU news, arts and events, visit WMU News online.