November 11, 2010
The Heffern family wanted to establish the Institute at Ashland University because Gordon’s son, Bob, graduated from here in 1990. His oldest son, Rick, graduated from the Finance program in 2009, with his younger brother, set to graduate in 2011, also with a degree in Finance. Combining those relationships with then one I had with Gordon made Ashland University the natural place to house the Heffern Institute.
Two receptions will be held in the next few weeks to acquaint friend and acquaintances of the late Gordon E. Heffern about the role of the Institute, the reasons for establishing it at Ashland University, and the need for funding so that its work may be more effective. The first reception will be on November 30, at 6P at the Union Club in Cleveland, with the second one on December 2, at 6P at Firestone Country Club in Akron.
1. Research and publication in top business/financial journals
2. Annual Contemporary Financial Issues Conference
3. Journal of Contemporary Financial Studies
I have been appointed the Director of the Heffern Institute, with Professor Terry E. Rumker, CFP, serving as Assistant Director.
- Tom Harvey, Director
The financial world needs an academic center that is objectively looking at the changes that are happening within the field, exploring new theories of behavioral finance, and coordinating that work with practitioners and students alike.
It will address the changing nature of the financial services industry and the increased volatility that we have seen in the money and capital markets which has been made more severe by technological advances and the increased number of players participating in them. It will also emphasize the importance of ethical behavior which was stressed by Gordon who said, “A code of ethics must be a high priority in an organization,” which may have been missing in the events preceding the collapse of the financial markets.
Research needs to be done to explain these phenomena, and students need to be educated to take advantage of the opportunities and challenges that they present. The Gordon E. Heffern Institute for Contemporary Financial Studies at Ashland University will fulfill that need.
