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Abol Jalilvand

Title/s:  Professor; Finance Department Chair; MS Finance Program Director; Director, Center for Risk Management and Insurance

Office #:  Schreiber 603

Phone: 312.915.7101

Email: ajalilv@luc.edu

About

I am a seasoned academic leader with over 35 years of global administrative experience, having served as dean of business and senior scholar at major public and private universities with strong tradition of liberal arts education in both the U.S. (Loyola University Chicago) and Canada (Concordia and Dalhousie Universities). I am the founding director of the Quinlan Series on the Future of Business Education, Loyola University Chicago, with a mission focused on providing a national forum examining the challenges and opportunities facing business schools and business education in the 21st century. Presently, I hold the position of Executive Director of the Business Leadership Hub, an umbrella organization of multiple centers of excellence at the Quinlan School of Business.  My scholarly work on corporate debt policy, organization risk management, behavior economics, sovereign debt, restructuring, and corporate governance continues to be widely published and has been supported by major external research grants.

As dean, I have elevated the national and global profiles of two business schools in the U.S. (Loyola University Chicago) and Canada (Dalhousie University). I have established premier undergraduate and graduate programs, hired world-class faculty fostering an enabling environment to enhance teaching, research, and community development.  I created and funded research centers and degree programs in partnership with sectors in financial services (Royal Bank of Canada, Bank of Montreal, Chicago Mercantile Exchange, and Toronto Stock Exchange), pharmaceuticals (Baxter International), and Alternative Energy (Burnside Eco-Industrial Park, Canada). Globally, I have established academic partnerships, economic development, and professional training programs both with universities and the public and private sectors in China, Russia, Cuba, India, and the Middle East.

My accomplishments have been positively received by alumni, local communities, and national and international ranking agencies including Business Week, US News & World Report and Beyond Grey Pinstripes Global MBA Survey. I have achieved successful fundraising campaigns, most recently realized by contributions exceeding $55 million, including a naming gift for Loyola University’s Business School, and previously, a $30 million program for building, scholarships, and research centers at Dalhousie University’s Faculty of Management. In 2009, in recognition of my leadership in ranking Loyola’s business ethics program 1st in the nation.  Ethisphere Institute, New York, selected me as one of the 100 Most Influential People in Business Ethics.

I have been a consultant to universities and for-profit and nonprofit sectors in the U.S., Canada, India, and Iran. Presently, I serve on the advisory board for the Graham School of Management, Saint Xavier University (Chicago, Illinois) and the board of trustees at the American Councils for International Education, Washington, D.C. I received a Ph.D. in Finance from the University of North Carolina at Chapel Hill, an MBA from Oklahoma State University, and a Bachelor of Arts from the Iranian Institute of Banking.  Formerly, I held the Herbert S. Lamb Chair in Business Education at Dalhousie University and the Ralph Marotta Chair in Free Enterprise at Loyola University Chicago.

Languages

  • English: Written and Spoken
  • Farsi (Persian): Written and Spoken
  • French: Spoken

Academic and Administrative Appointments

Loyola University Chicago, Chicago, Illinois, United States

  • Executive Director, Business Leadership Hub, Quinlan School of Business, 2021-present
  • Dean, School of Business Administration, 2005-2011
  • Ralph Marotta Endowed Chair in Free Enterprise, 2011-2021
  • Founding Director, Quinlan Series on the Future of Business Education, 2013-present
  • Full Professor of Finance, 2005-present

Dalhousie University, Halifax, Nova Scotia, Canada

  • Dean, Faculty of Management, 1999-2005
  • Herbert S. Lamb Endowed Chair in Business Education, 2004-2005
  • Full Professor of Finance, Faculty of Management, 1999-2005

Concordia University, John A. Molson School of Business, Montreal, Quebec, Canada

  • Full Professor of Finance, 1994-1999
  • Director, Executive MBA Program, 1997-1998
  • Chair, Department of Finance, 1990-1996
  • Director, International Exchange Program, 1989-1990
  • Associate Professor of Finance, 1985-1993
  • Assistant Professor of Finance, 1981-1984

Faculté des Sciences de l'Administration, Université Laval, Québec, Canada

  •  Visiting Professor of Finance, 1987-1988

PROFESSIONAL EXPERIENCE

Accreditation

  • Initial Accreditation, AACSB, Faculty of Management, Dalhousie University, 2003, Canada.
  • Re-accreditation, AACSB, School of Business, Loyola University Chicago, 2010.
  • Re-accreditation, AACSB, Accountancy Program, Loyola University Chicago, 2010.
  • Accreditation Advisor, Xavier Labor Relations Institute, Jamshedpur, India.
  • Accreditation Advisor, College of Business, University of Dallas, Dallas, Texas.
  • Accreditation Advisor, University of Detroit Mercy, Detroit, Michigan.
  • Accreditation Advisor, University of Tehran, Iran.
  • Member, Accreditation Visit Teams for U.S., Canadian, and Indian Business Schools.

Industry

  • Advisor, Ferrara Group USA, Chicago, Illinois.
  • Advisor, American Councils for International Education, Washington, D.C.
  • Advisor, Kharazmi Investment Group, Tehran, Iran.
  • Former Advisor, Kelly Management Consulting Inc., Chicago, Illinois.
  • Former Advisor, Canadian Gas Utility.
  • Former Advisor, Trans Quebec Maritimes Gaz Pipeline, Montreal, Canada.
  • Former Senior Research Associate, Department of Finance, Bell Canada Inc., Montreal, Canada.
  • Testified before the Superior Court of Quebec, Montreal, Canada.
  • Testified before the National Energy Board of Canada (NEB), Calgary, Canada.
  • Testified before the Canadian Radio-Television and Telecommunication Commission (CRTC), Ottawa, Canada.

Editorial experience

  • Guest Editor: Special issue (2022): “Enterprise Risk Management in Emerging Economies”, Quarterly Journal of Asset Management and Financing, Isfahan University, Iran.
  • Associate Editor: Journal of Economic Asymmetries, 2011-present.
  • Associate Editor: Multinational Finance Journal, 2011-present.
  • Associate Editor: Financial Research Journal, Tehran University, Iran, 2015-present.
  • Associate Editor: Quarterly Journal of Asset Management and Financing, Isfahan University, Iran, 2015-present.
  • Editor-in-Chief, Canadian Journal of Administrative Science, 1997-2001.
  • Program Chair: Financial Management Association International, Copenhagen, Denmark, 2002.
  • Program Chair: Administrative Science Association of Canada, Finance Division, Montreal, 1995.
  • Member: Academic Program Committee: Financial Management Association, Administrative Science Association of Canada, Atlantic Business Conference, Midwest Finance Association, and Eastern Finance Association.
  • Reviewer: Journal of Finance, Journal of Banking and Finance, Journal of Financial and Quantitative Analysis, Financial Management, Financial Review, Canadian Journal of Administrative Science, and Social Sciences and Humanities Research Council of Canada, SSHRC.

THOUGHT LEADERSHIP AND COMMUNITY ENGAGEMENT

  • Founding Director: Quinlan Series on the Future of Business Education, Loyola University Chicago, 2013 – present
    A national forum dedicated to a public dialogue among bestselling authors and thought leaders on the challenges and opportunities facing business schools and business education in the 21st century. Featured programs are listed below. 
  • Program 2021:  A conversation with Annie Duflo on Global Poverty and Income Inequality
    Speaker:  Annie Duflo, Executive Director of Innovations for Poverty Action (IPA) https://www.poverty-action.org/people/annie-duflo
    Podcast: https://podcasts.apple.com/us/podcast/q-talks-podcast/id1462927749?i=1000517249740
  • Program 2020:  An Overview of Accounting Tax Research
    Speaker:   Terry Shevlin, University of California, Irvine  https://merage.uci.edu/research-faculty/faculty-directory/Terry-Shevlin.html.
  • Program 2019:  “A Counterfactual Economic Analysis of Covid-19 Using a Threshold Augmented Multi-Country Model”, National Bureau of Economic Research (NBER), September 2020. https://www.nber.org/papers/w27855
    Speaker: M. Hashem Pesaran, University of Southern California, USA, and Trinity College, Cambridge, UK  https://dornsife.usc.edu/cf/faculty-and-staff/faculty.cfm?pid=1003600
  • Program 2019:  Geo-Political Risk: Causes and Consequences: Part I
    Speaker:  Gary Doer, Former Canadian Ambassador to the U.S.
  • Program 2019:  Geo-Political Risk: Causes and Consequences: Part II
    Speakers:  Ronald E. Neumann, Former Ambassador to Afghanistan; Thomas Hubbard, Former Ambassador to South Korea
  • Program 2018:  Managing Risk at Higher Education Institutions
    Speakers: Mike Edleson, Chief Risk Officer, University of Chicago; Merri Beth Lavagnino, Chief Risk Officer, Indiana University; Wayne Magdziarz, Senior Vice President and Chief Financial Officer, Loyola University Chicago; Joseph Yohe, Associate VP, Risk Management, Georgetown University
  • Program 2017:  Professional Business Education: Lessons from External Certification Programs https://www.youtube.com/watch?reload=9&v=QWCb9sBfjcQ&t=9s
    Speakers: Bill Kelly, CEO, Chartered Alternative Investment Analyst Association (CAIA); Peter Mackay, Director, Examination Development, Chartered Financial Analyst (CFA) Institute; Belverd E. Needles, Distinguished Professor of Accountancy, Editor, Accounting Instructors' Report (AIR), School of Accountancy and MIS, DePaul University.
  • Program 2015: Are Business Graduates Prepared to Lead Modern Organizations?
    Speakers: Richard Arum, New York University, coauthor of the bestselling book: Academically Adrift: Limited Learning on College Campuses; Anne Pramaggiore, President and CEO, ComEd, Chicago, Illinois; John Roberts, Stanford University, author of the best E-business book by The Economist: The Modern Firm: Organizational Design for Performance and Growth.
  • Program 2014: Crisis in Business Education: Defining the Road Ahead  https://www.youtube.com/watch?v=2nDzq9coQLY
    Speakers: Rakesh Khurana, Marvin Bower Professor of Leadership Development, Harvard Business School; Dan Davidson, President, American Councils for International Education; Edward Zajac, James F. Beré Professor of Management and Organizations, Kellogg School of Management, Northwestern University; Viktor Mayer-Schonberger, OII's Professor of Internet Governance and Regulation at the Oxford Internet Institute, University of Oxford; Judith Samuelson, Executive Director, Business and Society Program, Aspen Institute.

Administrative Experience and Accomplishments

Executive Director, Business Leadership Hub, Quinlan School of Business, Loyola University Chicago, 2021-present

The Loyola Business Leadership Hub is a gateway to the best of academic thought and practical solutions. The Hub cuts across disciplines and helps business and nonprofit organizations accelerate their success through centers specializing in social enterprise and responsibility, professional development, family businesses, student-run businesses, supply chain management, and risk management.

BUSINESS LEADERSHIP HUB

Centers of Excellence

  • Baumhart Center for Social Enterprise and Responsibility
  • Center for Risk Management
  • Executive and Professional Education Center
  • Family Business Center
  • Loyola Limited
  • Supply Chain and Sustainability Center

Vision

Become a translational unit of the Quinlan School of Business and Loyola University Chicago in successfully marketing and transferring the research and educational assets of its centers, rooted in the potential and quality of faculty and student, to address the 21st Century social and economic challenges and opportunities of the membership, alumni, and other external communities.

Mission

  • Increase, embrace, and support faculty and student participation in research and educational activities of the centers.
  • Create a robust administrative and academic infrastructure to identify research initiatives, support, and oversee the construction and maintenance of databases/surveys, and discover grants and funding opportunities.
  • Become an R&D laboratory of the Quinlan School of Business and Loyola University Chicago in creating and lunching new research and educational innovation globally.
  • Increase the Hub’s overall impact and resources contribution.

SELECT ACTIVITIES AT THE HUB: SEPTEMBER 2021- PRESENT

Grants

  • Submitted a proposal for an Intramural Transformative Research Award sponsored by Loyola University Chicago. “Moving from Financial Literacy to Financial Well-Being: Untangling Educational, Experiential, and Behavioral Antecedents”.
  • Submitted a proposal for an Intramural JEDI (Justice, Equity, Diversity, and Inclusion) Research Award sponsored by Loyola University Chicago. “Community-Built Data Dashboard: Advancing Racial Justice in Chicago”. 

Communication of Faculty Scholarship/Professional Expertise 

  • Modelling after the Harvard Business Review (HBR), initiated the development of an in-house case publishing journal in partnership with the Parkinson School of Health Sciences and Public Health and the Baumhart Center for Social Enterprise and Responsibility.  

Scholarly and Professional Inventory of Research 

  • Launched a consultancy website to establish the infrastructure needed for identifying existing and potential research and their application to address external organizational demands. 

Student Experiences

  • Loyola Limited student run business operations provided real world and classroom experiences for undergraduate students at Quinlan and Loyola University. 

R&D Lab

  • Formed a research group to develop and publish annual indices of economic activities and social well-/mobility for different local and national sectors.
  • Offer a certificate program in family business studies by fall 2022
  • Offer a certificate program in risk management and insurance by fall 2022.
  • Create new centers in areas such as global poverty and income inequality, financial literacy, and healthcare.
  • In partnership with the Institute of Racial Justice, the Baumhart Center for Social Enterprise and Responsibility launched the DEI Leadership Lab
  • Scaled up interdisciplinary and transdisciplinary program offerings and innovation research work. 

Outreach and Revenue Generation

  • Ongoing activities in securing naming gifts for the centers and the Hub itself.
  • Hub’s Revenue and profitability forecast for FY 2022
    • Total Revenue $2,000,000 - $2,750,000
    • Profit Contribution 25%           

DEAN, SCHOOL OF BUSINESS, LOYOLA UNIVERSITY CHICAGO, 2005-2011

With an enrollment of approximately 17,000, Loyola University Chicago is the nation’s largest Jesuit Catholic University with campuses both in Chicago and Rome, Italy. The university is home to thirteen schools offering over seventy undergraduate, eighty-five masters, and thirty doctoral programs. Presently, the School of Business Administration (SBA) represents approximately 20% of the total university enrollment offering an undergraduate, MBA, and specialized masters programs.

SELECT ACCOMPLISHMENTS: 2005-2011

RANKING AND VISIBILITY 

Graduate ProgramsRankYears
Part-Time MBA Program (Business Week)  Top 20  2007-11
Part-Time MBA Program, Midwest (Business Week)  Top 10 2007-11
Part-Time MBA Program (US News & World Report) Top 50 2006-11
Master of Science Accounting (US News & World Report)  Top 25 2010
EMBA Program (US News & World Report) Top 25 2010
Beyond Grey Pinstripes Global MBA Survey (Aspen Institute)       Top 25 (#22) 2010-11
Beyond Grey Pinstripes Global MBA Survey (Aspen Institute) Top 20 (#12) 2011-12
     
Undergraduate Programs    
US News & World Report Top 100 2010
Business Week Top 100 2011
Specialty Undergraduate Areas (Business Week)    
Ethics #1 2009
  Top 10 2009-11
Accounting Top 25 2010
Supply Chain and Sustainability Top 30 2010
Financial Management Top 50 2010

OUTREACH AND REVENUE GENERATION 

  • Developed and implemented two consecutive 5-year strategic plans: (2005-2009; 20010-2015).
  • Achieved material increases in enrollment:
    • 5-year overall growth Undergraduate (10%); Graduate (25%)
  • Implementation of fundraising campaign resulted in contributions exceeding $55 million, including a naming gift for the School of Business Administration.
  • Increased membership and diversity of the board of advisors.
  • Launched a quarterly breakfast Alumni Education Series.
  • Launched the Dean’s Speaker Series in Responsible Leadership.

 RESEARCH AND SCHOLARSHIP 

  • Hired 22 full-time faculty members, including three endowed chair holders:
    • Considine Chair in Applied Ethics
    • Charles H. Kellstadt Chair of Marketing, and
    • Indo-U.S. Professorship of Management Studies.
  • Increased the proportion of academically qualified faculty (AACSB standard) from approximately 50% in 2005 to a range of 70% - 80% in 2010.
  • Launched the Center for Risk Management and Corporate Governance with multiple $1 million grants from the Chicago Mercantile Exchange, CME.
  • Launched the Center for International Business, a partnership with the Xavier Institute of Labor Relations (XLRI), India.
  • Increased faculty representation in journal editorship and editorial board membership.

 STUDENT EXPERIENCE    

  • Achieved curricular certification agreements for student professional designations with Chartered Financial Analyst (CFA), Chartered Alternative Investment Analyst (CAIA), and Global Association of Risk Professionals (GARP).
  • Created an undergraduate Academic Internship Program.
  • Established an undergraduate “Derivatives Markets and Risk Management” five-week summer program. The Chicago Mercantile Exchange funded the program and provided on-site training.
  • Created “Micro-enterprise Consulting” initiative in which undergraduate and graduate students worked directly with business owners in Chicago’s economically disadvantaged neighborhoods. This initiative won the Innovation in Business Education Competition Prize awarded by the AACSB.
  • Launched student organized Business Plan Competition.
  • Established a partnership with the Junior Achievement Chicago program.
  • Launched student clubs in economics, entrepreneurship, risk management, and supply chain management.
  • Established new student chapters: “Students in Free Enterprise (SIFE)” and “NetImpact”. The Loyola SIFE group won three consecutive regional championships.
  • Launched the Loyola Flat Project where junior and senior business students manage and operate several high-end rental apartments.

 NEW PROGRAMS 

  • Undergraduate Honors program with emphasis on responsible leadership and global perspectives.
  • Intercontinental MBA program
  • Master of Science in Supply Chain Management.
  • EMBA program in Chicago.
  • MBA Healthcare Management (partnership with the Schools of Medicine, Law, and Nursing) supported by a grant from Baxter International.
  • Master of Science in Finance, scholarship support from the Chicago Mercantile Exchange.

 GLOBAL INITIATIVES 

  • Launched a partnership with a top Indian Jesuit business school, Xavier Labor Relations Institute (XLRI).
  • Created the Indo-U.S. Professorship of Management Studies.
  • Enhanced the global representation of the SBA’s Board of Advisors
  • Created and funded a new Center for International Business.
  • Expanded study abroad programs in Asia (China, India and Vietnam), Europe (Germany, England, Ireland, Italy, Greece and Spain), and Australia.
  • Launched executive education programs in Rome and Vietnam and planned for South America.

ACCREDITATIONS

Achieved maintenance of accreditation from the AACSB (Association to Advance Collegiate Schools of Business International) for the School of Business, and, separately, for its Accounting and Business Law Program.

Achieved accreditation from the Society for Human Resource Management (SHRM) for the Master of Science in Human Resource program.

DEAN, FACULTY OF MANAGEMENT, DALHOUSIE UNIVERSITY, HALIFAX, NOVA SCOTIA, CANADA, 1999 - 2005

Dalhousie is a leading publicly funded Canadian research university. It offers more than 180-degree programs in 11 diverse faculties, generating over $200 million in research grants each year. With over 3,500 students and 85 full-time faculty members, the Faculty of Management is one of the largest academic units in the university, an interdisciplinary unit consisting of four schools: Business Administration, Public Administration, Information Management, and Resource and Environmental Studies.

REVENUE GENERATION

  • Created and implemented two comprehensive 5-year strategic plans (1999-2004 and 2004-09).
  • Increased total enrollment by 30%.
  • Completed a $30 million fundraising campaign for a new building, scholarship and centers.
  • Increased membership and diversity of the advisory board.
  • Lunched a national speaker series on global business education.

RESEARCH AND SCHOLARSHIP

  • Hired 20 full-time faculty members.
  • Instituted a competitive research grant and faculty development program. 
  • Increased the proportion of academically qualified, AACSB standard, faculty from 50% in 1999 to 80% in 2003.
  • Established and recruited for Canada Research Chair in Risk Management for Organizations.
  • Established and recruited for Canada Research Chair in Management Informatics.
  • Established and recruited for Killam Chair in Technology, Innovation and Marketing.
  • Established the Eco-Efficiency Center.
  • Established the RBC (Royal Bank) Centre for Risk Management.
  • Established the Norman Newman Centre for Entrepreneurship.
  • Increased faculty representation in journal editorship and editorial board membership.

 STUDENT EXPERIENCE

  • Generated over 1,000 paid full-time internships annually to support a required undergraduate co-op Program.
  • Launched the Pan-American Business Partnership Program involving schools from the US, Canada and Mexico providing a range of multi-cultural and multi-lingual business training opportunities within the context of the North American Free Trade Agreement (NAFTA) (presently, USMCA).
  • Developed a European internship program for students majoring in International Business Studies.
  • Created and funded an annual U.S.-Canada Business Risk Management Case Competition

NEW PROGRAMS

  • Bachelor of Management: a unique interdisciplinary undergraduate program integrating curriculum and internship opportunities in business administration, public administration, environmental studies, and technology management.
  • Executive Master of Electronic Commerce: joint program with Faculties of Law and Computer Science.
  • On-line Master of Public Administration in Management; joint program between Schools of Business and Public Administration.
  • Distance MBA Insurance and Financial Services.
  • Master of Resource and Environmental Management.
  • Master of Marine Management: a joint program with the Faculty of Arts and Social Sciences.
  • Graduate concentrations in risk management, management informatics, and entrepreneurship.
  • D. in Financial Economics: a joint program with the Faculty of Arts and Social Sciences.

GLOBAL PROGRAMS

  • Developed a management training program for the Saudi Arabian Institute of Banking.
  • Developed public policy capacity building projects for the Cuban Government.
  • Developed an integrated approach to river basin management for Russia’s Komi Republic.
  • In cooperation with private sector partners and China's Beijing and Tsinghua Universities, created professional training programs in environmental aspects of water resource development and management in China.
  • Various international exchange programs in Europe and Asia.

ACCREDITATIONS  

  • Secured initial accreditation for the School of Business Administration from the AACSB (Association to Advance Collegiate Schools of Business International).
  • Secured a seven-year re-accreditation for the School of Information Management from the American Library Association (ALA) - the longest accreditation possible under the ALA regulations.

CONCORDIA UNIVERSITY, JOHN A. MOLSON SCHOOL OF BUSINESS, MONTREAL, CANADA, 1981-1999

Concordia is one of the largest research comprehensive universities in Canada, offering more than 300 undergraduates and 200 graduate programs, diplomas and certificates in four Faculties, a School of Graduate Studies, and a School of Extended Learning. With over 8,000 students and 148 full-time faculty members, the John A. Molson School of Business is the second largest academic unit in the university.  The School of Business offers several undergraduate, MBA and Master of Science programs. A Ph.D. program is also jointly offered with the Business Schools at McGill University, University of Montreal, and University of Quebec at Montreal.

DIRECTOR, EXECUTIVE MBA PROGRAM

  • Refocused and redesigned the curriculum.
  • Developed a comprehensive marketing strategy.
  • Launched an advisory board.
  • Increased enrollment by 40%.

CHAIR, FINANCE DEPARTMENT, 1990-1996

  • Built a strong reputation as a top research unit in Canada.
  • Hired five tenure-track faculty members from highly regarded doctoral programs.
  • Recruited doctoral students who repeatedly distinguished themselves with the prestigious Governor General Gold Medal of Canada.
  • Faculty members received multiple teaching awards.
  • Promoted student outreach and exposure programs with major financial institutions in Canada.

DIRECTOR, INTERNATIONAL EXCHANGE PROGRAM, 1989-1990

Launched new exchange agreements:

  • Gothenburg School of Economics and Commercial Law, Gothenburg University, Sweden.
  • The Group HEC, Paris, France.
  • CERAM School of Management, Nice, France.

Degrees

  • PhD, Finance, University of North Carolina at Chapel Hill, 1981
  • MBA, Oklahoma State University, 1976
  • BA, Banking, Iranian Institute of Banking, 1974

Research Interests

  • Capital Structure
  • Corporate Risk Management
  • Behavioral Eaconomics
  • Sovereign Debt Problems
  • Mergers and Acquisitions
  • Corporate Governance and Restructuring
  • Econometric Models of Firms

Professional & Community Affiliations

Professional Memberships

  • Economic Club of Chicago
  • Financial Executive Insititute
  • Administrative Science Association of Canada
  • Financial Management Association
  • Association to Advance Collegiate Schools of Business International (AACSB)

Boards and Professional Appointments

  • Trustee, American Councils for International Education, Washington, D.C., 2013-present.
  • Board: Graham School of Management, Saint Xavier University, Chicago, IL., 2016-present.
  • Board: Chicago State University, College of Business, Chicago, Illinois, 2007-present.
  • Board: Xavier Labour Relations Institute (XLRI), Jamshedpur, India, 2007-2011.
  • President, Mid-Continent East AACSB (Association to Advance Collegiate Schools of Business International), 2007.
  • Board: Canadian Federation of Business School Deans, Honorary Life Member.

Courses Taught

Graduate

  • Advanced Corporate Finance
  • Seminar in Finance Theory
  • Seminar in Financial Management and Economic Policy (EMBA)
  • Introduction to Corporate Finance
  • Capital Budgeting
  • Business Research Methodology

Undergraduate

  • Advanced Investment 
  • Advanced Corporate Finance
  • Introduction to Corporate Finance

Areas of Teaching Interest

  • Corporate Finance
  • Capital Markets
  • Risk Management
  • Strategic Change
  • Corporate Restructuring
  • International Capital Flows

Awards

  • Best Paper Award: Annual London Business ResearchConference, August 2018.
  • Best Paper Award: Global Conference on Business and Finance, January 2014.
  • Best Paper Award: Eurasia Business Research Conference, June 2013.
  • 100 Most Influential People in Business Ethics (2009) by Ethisphere Institute, New York.
  • Best Corporate Finance Paper Award, Eastern Finance Association, 1987.
  • Best Finance Paper Award, Administrative Science Association of Canada, 1984 and 1986.
  • Full Doctoral Scholarship Award from the Central Bank of Iran, 1973-1981

Selected Publications

Refereed Articles, Books and Chapters

“Enterprise Risk Management (ERM) Maturity: A Clinical Study of a U.S. Multinational Nonprofit Firm”, with S. Moorthy, MSF student (presently with Morgan Stanley), Journal of Accounting, Auditing, and Finance. (Forthcoming).

“The Impact of population Aging on Housing Prices: A Comparative Study of Singapore and the U.S.” (with F. Firoozi, D. Lien, and M. Oliver), International Real Estate Review, Vol. 23, No. 4, 1093-1108 (2020).

“Components of Credit Rationing” (with M. Beyhaghi, F. Firoozi, L. Samarbakhsh), Journal of Financial Stability, Vol. 50, issue C. (2020).

“Asset Risk Behavior in Value and Growth Firms Under Stable and Adverse Market Conditions: Evidence from the Tehran Stock Exchange” (with M. Rostami Noroozabad, M. Layalestani, and A. Saeedi), The Quarterly Journal of Asset Management and Financing, Vol 8, Issue 3, No. 30. (2020).

“What Factors Influence the Differential Behavior of Value and Growth Firms? Evidence from the Tehran Stock Exchange” (with M. Rostami Noroozabad, M. Layalestani, and A. Saeedi), Financial Research Journal, Vol 21, Issue 4, p. 517-544. (2019).

“Enterprise Risk Management for a Publicly-Traded Investment Banking Firm in Iran: A Case Study”, The Quarterly Journal of Asset Management and Financing, Volume 7, Issue 2: 1-24. (2018).

“Financial Literacy, Emotions, Gender, Risk Perceptions, and Investors’ Decisions: Evidence from the Tehran Stock Exchange”, Journal of Investment Management, Vol. 7, Issue 27, p 141-170. (Summer 2018).

“Informed and Uninformed Investors in Iran: Evidence from the Tehran Stock Exchange (with M. Rostami and J. Switzer), Journal of Economics and Business, 95 (2018) 47-58. (2017).

Debt, Corporate",The SAGE Encyclopedia of Business Ethics and Society: 2nd edition, Edited by R. Kolb. (2017).

“Information asymmetry and adverse wealth-effects of crowdfunding” (with F. Firoozi and Donald Lien), Journal of Entrepreneurial Finance, Vol 18, Issue 1. (2016).

"Le Beau Footwear: A Business Valuation Case for a Privately-Held Firm" (with J. Kostolansky), Accepted for publication: Issues in Accounting Education. (2016).

"Recent Evidence of Investors' Behavior in the Tehran Stock Exchange: Preliminary Evidence and Future Insights" (with Rostami M., Rahmani, S.), Accepted for publication: Journal of Financial Research, Tehran University, Tehran, Iran. (2015).

"Do Size and Value Premia Vary Across Industry and Market Conditions? Evidence from the Euro Area" (with M. Asal), Journal of Business and Policy Research, Vol. 10. No. 1. Pp. 98-116. (July 2015)

"Matching Slack Resources and Investment Strategies to Achieve Long-Term Performance: New Perspectives on Corporate Adaptability" (With S.M. Kim), Journal of Economic Asymmetries, 10(1), 38-52. (2013).

"Sovereign Spreads and Perceived Risk of Default Re-Visited", (with J. Switzer): Robert Kolb (editor) Sovereign Debt: from Safety to Default, Hoboken, NJ: John Wiley & Sons, Inc. (2011).

"Sequence of Asset Bubbles and the Global Financial Crisis", (with A.G. Malliaris): Robert Kolb (editor), Lessons from the Financial Crisis: Insights and Analysis from Today's Leading Minds, John Wiley & Sons, Inc. (2009).

"Pre-Bid Price Run-Ups and Insider Trading Activity: Evidence from Canadian Acquisitions"(with A. Jabbour and J. Switzer), International Review of Financial Analysis (2000), 9(1):21.

"A Global Perspective on the Use of Derivatives for Corporate Risk Management Decisions" (with J. Switzer and C. Tang), Managerial Finance Special Issue on Corporate Risk Management, 26(3):29. (2000).

“Why Firms Use Derivatives: Evidence from Canada,” Canadian Journal of Administrative Science: Special Issue on Corporate Risk Management, 16(3):213. (1999).

“Persistent Volatility in Daily stock Returns: Daily Number of Trades vs. Garch Effects" (with B. Dadgostar), Journal of Global Business. 12(2): 45. (April 1999).

"A Synthesis on Investment Bankers' Reputation and Pricing of Initial Public Offerings: New Evidence on Reverse LBOs" (with J. Switzer and S. Stewart), Financial Markets, Institutions and Instruments, 5, 5:37-61. (1996).

"Evidence on the Existence of Deterministic Chaos in TSE 300 Monthly and Daily Returns" (with P. Varson), Canadian Journal of Administrative Science, 11(1):43-53. (1994).

"Default Risk, Firm Characteristics and Valuation of Floating Rate Debt Instruments" (with T. Park), Financial Management, 23(2):58. (1994).

"Incorporating Contemporaneous Residual Relationships for Security Prices" (with L. Kryzanowski), Economics Letters, (31): 245-249. (1989).

"Perceived Risk of Default and Banks' International Lending Decisions" (with J. Doukas), Journal of Economics and International Relations, 1(4):323. (1987).

"Economists Clash Over the Probable Impact of Domestic, International Policy Actions" (with J. Doukas), IMF Survey (January 1986): 245. (January 1986).

"Statistical Tests of the Accuracy of Alternative Forecasts: Some Results for U.S. Utility Betas" (with L. Kryzanowski), Financial Review, 21(2):319. (1986).

"Sovereign Risk and International Lending: Theoretical and Empirical Analysis" (with J. Doukas), Studies in Banking and Finance (Journal of Banking and Finance), (3):131. (1986).

"Incorporating Contemporaneous Residual Relationships: A New Approach" (with L. Kryzanowski), Economics Letters, (1985), (19): 319. (1985).

"Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: An Econometrics Study" (with R. S. Harris), Journal of Finance, 39(1):127. (1984).

Articles Under Review

“Enterprise Risk Management (ERM) Maturity: A Clinical Study of a U.S. Multinational Nonprofit Firm”, with S. Moorthy, MSF student (presently with Morgan Stanley), Journal of Accounting, Auditing, and Finance.

“Global Educational Systems: An Enterprise Risk Management (ERM) Case Study for a U.S. Multinational Nonprofit Firm”, with S. Moorthy, MSF student (presently with Morgan Stanley). To be submitted to Issues in Accounting Education.

“The Behavior of Value and Growth Firms: Evidence from The Tehran Stock Exchange” with M. Rostami Noroozabad and Firoozi, Quarterly Review of Economics and Finance.

Books

“Innovation, Resources, and R&D Investment in the US Energy Sector” (with S.M. Kim), Perspectives on Energy Risk, Centre for Energy and Value Issues (CEVI), Springer Publishing, 2013.

Risk Management and Corporate Governance, (with A. G. Malliaris), Rutledge/Taylor & Francis Publishing Group, 2011.

Print Media

Healthcare Needs Strong Managers: Let’s Devise an Interdisciplinary B. School Curriculum to Help Develop Them” BusinessWeek Chicago, Pub Num 12B-1520, P.G. 46, January 2008.

Graduate Supervision

Chair: Doctoral Dissertation: M. Rostami Noroozabad, Islamic Azad University, 2019, Tehran, Iran.

Supervisor, Independent Study Research, Han Jin, MSF Program, 2018, Quinlan School of Business, Loyola University Chicago.

A full list of past supervisory activities at the master’s and Ph.D. levels is available upon request.

Invited Presentations

"Strategic Mindset in Adaptive Organizations", Emerging Leaders Program, Ferrara Group, Chicago, IL. 2021.

"Enterprise Risk Management (ERM) in a Global Environment", Executive Education and Professional Center, Business Leadership Hub, Quinlan School of Business, 2021.

"Perspectives on Emerging Global Risks, Kuesel Consulting Group, Chicago, IL. 2019.

"Global Economic Outlook, Innovation, and Risk Management Platform”, Keynote, 3rd International Conference on Management, Accounting, and Knowledge-Based Economy, Tehran, Iran. September 2017.

"Global Financial Intermediation: History, Challenges, and Opportunities", Keynote, Iranian Institute of Banking, Tehran, Iran, December 2015.

"Emerging Economies' International Expansion: Recent Evidence and Prescriptions", Keynote, Kharazmi Investment Group Annual Meeting, Esfahan, Iran, http://www.kharazmi.ir/, December 2015.

"The Experience of a Canadian Business School in Introducing a Public Policy Program", Business Schools and Public Service, Signature Event Recognizing George Kaufman's Contribution to Finance: Quinlan School of Business, Loyola University Chicago, November 2015.

"Global Economic Outlook and Enterprise Risk Management Platform", Keynote. Iranian Financial Center, Tehran, Iran. November 2014.

"Flexibility, Innovation Strategy, and Performance under Turbulent Environments: Evidence from a Multi-Industry Sample", Keynote, Financial Executive Institute (FEI), March 2013.

"Adaptive Organizations: Building Competitive Advantages in Turbulent Times", Joing Conference of the Indian Academy of Management and Academy of International Business, Bangalore, India, December 2011.

"The Business of Ethics and Leadership", Ethics: It's Who We Are: The Influence of Raymond C. Baumhart, S.J., on Business Ethics Movement, Dean's Speaker Series, Loyola University Chicago, April 2010.

“Moving From Endless Resources to Resource Depletion: A Crisis and an Opportunity” International Association of Jesuit Business Schools (IAJBS), Jamshedpur, India, June 2009.

“Leadership Challenges: Lessons from Turbulent Times”, Alumni Education Series, Loyola University Chicago, Chicago, Illinois, 2009.

“Credentialing the Profession”, Alliance of Mergers and Acquisition Advisors (AMAA), Las Vegas, Nevada, January 2007.

“Where Leadership Meets Ethics: Producing a Responsible MBA”, The First Friday Club of Chicago, Chicago, Illinois, February 2006.

“Building Educational Alliances between the U.S. and Canada”, 2006 Annual Conference, Association of Collegiate Business Schools and Programs, Chicago, Illinois, June 2006.

“Meeting Global Challenges: An Opportunity for Business Schools”, 2003 AACSB Annual Meeting, San Francisco, April 2003.

“Managing Risk in the New Economy,” Dalhousie Business Conference, Halifax, Nova Scotia, 2002.

“Risk Management for Organizations: Conceptual and Applied Perspectives.” A presentation to the Risk Management Group, Bank of Montreal, Toronto, Ontario, 2002.

“Common Sense Investing…Understanding the Markets.” Toronto Stock Exchange (TSE), Toronto, Ontario, 2002.

"Business Schools’ Challenges in the 21st Century,” Administrative Science Association of Canada, Fredericton, New Brunswick, 2001.

“Management Education in the New Economy,” Halifax Business Club Luncheon, Halifax, Nova Scotia, 2000.

"Getting Published: The Art and the Science," Doctoral Seminar Consortium, Administrative Science Association of Canada, Saskatoon, Saskatchewan, 1998.

"Publishing in the Canadian Journal of Administrative Science” Invited workshop, University of New Brunswick, Fredericton, New Brunswick, 1997.

"Derivatives Products and Corporate Risk Management Policies: Evidence from Canadian Non-Financial Corporations," (with J. Switzer and C. Tang), Gothenburg School of Economics, Gothenburg, Sweden. Also presented at the University of Antwerp, Belgium, and Faculté des Sciences de l'Administration, Université Laval, Quebec City, Quebec, 1996.

"Restructuring and Managing Corporate Debt," Invited Presentation by Gothenburg School of Economics and Commercial Law, Gothenburg, Sweden (May 1996) and Copenhagen School of Business and Finance, Copenhagen, Denmark (June 1996). Also presented at the Faculty of Management at Lakehead University, Lakehead, Ontario March 1996.

Round Table: "Mergers and Acquisitions, Assessment and Overview of Corporate Restructuring in Europe and North America," International Conference in Finance, Group HEC-AFFI, Paris, France. Also presented at the Gothenburg School of Economics, Commercial Law, Gothenburg, Sweden, 1990.

"Forecasting Issues in Finance." The Ninth International Symposium on Forecasting, Vancouver, British Columbia. Also presented at the Faculté des Sciences de l'Administration, Université Laval, Quebec City, Quebec, 1988, and at the Faculty of Management, McGill University, Montreal, Quebec, 1986.

Funded Research

Social Sciences and Humanities Research Council of Canada (SSHRC): $61,000 to support the Canadian Journal of Administrative Science, Official Journal of the Administrative Science Association of Canada. 1998.

Social Sciences and Humanities Research Council of Canada (SSHRC): $53,836 for the research program "Derivatives Products and Corporate Hedging Policy: Some Evidence from International Data" (with J. Switzer and C. Wihlborg). 1997.

Concordia University Bridge Grant: $10,000 for the project "The Informational Content of Capital Structure Changes and Corporate Debt Choices: An Empirical Investigation" (with R. Chung and J. Switzer). 1994.

Social Sciences and Humanities Research Council of Canada (SSHRC): $22,613 for the project "Determination of Risk Premium on Floating Rate Debt Instruments and Corporate Debt Policy: Theory and Evidence" (with T. Park). 1991.

Financial Research Foundation of Canada: $7,000 for the project "The Cost of Floating Rate Debt and the Variability of the Firm's Earnings" (with T. Park). 1991.

Shell Canada: $8,333 funding for the project "A Simulation Approach for Corporate Debt Management Decisions." 1990.

Government of Quebec, Canada: $55,536 for the project "An Evaluation of the Benefits of the Quebec Stock Savings Plan (QSSP) to Corporate Quebec and Quebecers. 1987.

Presentations and Proceedings

Beyhaghi, Mehdi, Firoozi, Fathali, and Jalilvand, Abolhassan, “Components of Credit Rationing”, Financial Management European, Scotland, June 2019. Also presented at the Western Economic Association International Annual Conference, San Francisco, June 2019.

Jalilvand, A., Rostami Noroozabad, M., Switzer, J. "Financial Literacy and Investor Type in Iran: Evidence from the Tehran Stock Exchange," European Financial Management, Norway, June 2018.

A. Jalilvand, Conference Keynote, “Key Considerations in Developing Enterprise Risk Management at Non-Profit Organizations”. 5th International Conference on Applied Research in Management and Accounting, Tehran, Iran. June 2018.

Firoozi, F., Jalilvand, A., Lien, D., Oliver, M. "A Comparative Study of the Impact of Aging on Housing Markets in Singapore and the U.S.," Midwest Economic Association, Chicago, March 2018.

Jalilvand, A. and Rostami, M. “A Comparative Study of the Behavioral Characteristics of Individual and Institutional Investors in Iran: Evidence from the Tehran Stock Exchange” European Finance and Banking, Bologna, Italy, September 2016.

Jalilvand, A. and Asal, M. “Do Economic Shocks Affect Value and Growth Firms Differently? A Multi-Industry Evidence from the Euro Market”, Financial Management International, Venice, Italy, June 2015.  Also presented at the Midwest Finance, Chicago, Ilinois. March 2015.

Jalilvand, A., Rostami Noroozabad, M.J., and Rahmani Noroozabad, S., “Factors Influencing Investment Behavior: Recent Evidence from Individual and Institutional Investors in Iran”, Midwest Finance, Chicago, Illinois, March 2015.

“Do Size and Value Premia Vary Across Industry and Market Conditions? Evidence from the Euro Area” (with M. Asal), Best Paper Award, Global Conference on Business and Finance, Honolulu, Hawaii. January 2014.

“Do Size and Value Premia Vary Across Industry and Market Conditions? Evidence from the Euro Area” (with M. Asal), Best Paper Award, Eurasia Business Research Conference, Istanbul, Turkey, June 2013.

"Managing Slack Resources and Investment Strategies in Turbulent Times", (with S. Kim), Southwestern Finance Association, Albuquerque, NM, March 2013.

"Organizational Architecture, Financial Flexibility and Performance", (with S. Kim), Athenian Association Conference, Thessaloniki, Greece, July 2012.

“How to Reduce Financial Distress in Europe of Tomorrow?” Panel Discussion, 14th Annual Conference on European Integration, Swedish Network for European Studies in Economics and Business, May 2012.

Panel on “Ethics and Finance”, Financial Management International, Barcelona, Spain. 2007.

“Risk Management for Organizations: Conceptual and Applied Perspectives”, International Financial Management Association, Stockholm, Sweden. 2006.

"Information Asymmetry and the Operating and Financial Performance of Secondary IPOs: Evidence from the Reverse LBOs of the 1990s" (with S. Koutsogianopoulos and J. Switzer), Financial Management Association Conference, San Antonio, Texas and Financial Management International Conference, Copenhagen, Denmark. 2002.

"The Impact of Board Compensation and Voting Control on the Decision to Divest: Spin-offs vs. Equity Carve-outs" (with J. Switzer), 2001, Financial Management Association Conference, Toronto, Ontario, 2001.

"Does Corporate Governance Affect Restructuring Decisions? Spin-offs versus Equity Carve-outs" (with R. Bazzi and A. Switzer), 2000 Financial Management Association Conference, Seattle, Washington.

Also presented at the 2000 European Financial Management Association, Athens, Greece, 2000.

Seventh Annual Global Finance Conference, Chicago, Illinois, 2000.

"Treasury Structure, Financial Leverage, and Integration of Risk Management Activities: Evidence from Canada," (with J. Switzer) 1999 Financial Management Association Conference, Orlando, Florida.

Also presented at the 1999 European Financial Management Association, Paris, France. 1999.

"Corporate Board Structure and the Decision to Divest: Equity Carve-Outs and Spin-Offs" (with R. Bazzi and J. Switzer), Financial Management Association Conference, Orlando, Florida. 1999.

Also presented at the European Financial Management Association Conference, Paris, France. 1999, the Atlantic School of Business Conference, Halifax, Nova Scotia. 1999 and the Sixth Annual Global Finance Conference, Istanbul, Turkey, 1999.

"Corporate Risk Management Decisions: Empirical Evidence from Canada" (with J. Switzer and C. Tang.), 1998 Financial Management Association Conference, Chicago, Illinois. Also presented at the Fifth Annual Global Finance Conference, Mexico City, Mexico and the 1998 European Financial Management Conference, Lisbon, Portugal.

"Pre-Bid Price Run-Ups and Insider Trading Activity: Evidence from Canadian Acquisitions" (with A. Jabbour and J. Switzer), 1998 Financial Management Association Conference, Chicago, Illinois. Also presented at the 1998 Global Finance Conference, Mexico City, Mexico and the 1998 European Financial Management Conference, Lisbon, Portugal.

"Derivatives Products and Corporate Risk Management Policies: Evidence from Canadian Non-Financial Corporations" (with J. Switzer and C. Tang), International Financial Management Association, Zurich, Switzerland. 1997.

"Corporate Risk Management Decisions: Empirical Evidence from Canada" (with J. Switzer and Caroline Tang), Atlantic Schools of Business Conference, Fredericton, New Brunswick. 1997

“Persistence Volatility in Daily Stock Returns: Daily Number of Trades vs. Garch Effects” (with B. Dadgostar), Academy of Business Administration Global Trends Conference, Acapulco, Mexico. 1996.

"Survey on Risk Management Policies and Practices: Evidence on Canadian Non-Financial Corporations" (with C. Tang), International Conference on Options and Futures, Montreal, Quebec, 1996.

"A Synthesis on Investment Banker Reputation and Pricing of Initial Public Offerings: New Evidence on Reverse LBOs" (with S. Stewart and J. Switzer), Global Finance Conference, Honolulu, Hawaii, 1996.

"An Empirical Investigation of the Determinants of Arch and Garch Effects in Daily Stock Data" (with B. Dadgostar and T. Park), Administrative Science Association of Canada, Halifax, Nova Scotia, 1994.

"Evidence on the Existence of Deterministic Chaos in TSE 300 Monthly and Daily Returns" (with P. Varson), 1993 Financial Management Association, Toronto, Ontario. Also presented at the Northern Finance Association, Halifax, Nova Scotia, 1993.

"Determinants of Risk Premium on Variable - Rate Debt Instruments" (with T. Park), 1992 Financial Management Association, San Francisco, California. Also presented at the 1992 meeting of the Northern Finance Association, Montreal, Quebec. 1992.

"Default Risk, Firm Characteristics and Valuation of Floating Rate Debt Instruments" (with T. Park),  European Finance Association, Lisbon, Portugal. 1992.

"Regulation and Corporate Debt Management Policy for Public Utilities" International Conference in Finance, Group HEC-AFFI, Paris, France, 1990.

"The Measurement of Benchmark Betas and the Accuracy of Alternative Beta Forecasts" Ninth International Symposium on Forecasting, Vancouver, British Columbia, 1989.

"On Interactions of Production and Financial Decisions: New Evidence for the U.S. and Canada," Financial Management Association, Boston, Massachusetts.  1989.

"Euromoney and Institutional Investor Country Risk Indices and Predictions of Debt Servicing Problems in Developing Countries," The Eighth International Symposium on Forecasting, Amsterdam, The Netherlands, 1988.

"Partial Adjustment Models and Corporate Financial Behavior" (with A. Rahman), Best Paper Award, Eastern Finance Association, Proceedings Issue, Vol. 22, No. 3. 1987.

"Dynamics of Corporate Dividend Behavior" (with A. Rahman), Best Paper Award, Administrative Science Association of Canada, Proceedings Issue, Vancouver, British Columbia. 1986.

"Sovereign Risk and International Lending Interactions" (with J. Doukas), American Economic Association, New York, NY.  1985.

"A Model for Banks' International Lending: Some Empirical Evidence on the US and the Japanese Banking Systems" (with J. Doukas), Western Finance Association, Scottsdale, Arizona.  1985.

"On Corporate Debt Maturity Structure Decisions" (with N. Ursel), Financial Management Association, Denver, Colorado.  1985.

"Perceived Risk of Default and Banks' International Lending Decisions"(with J. Doukas), American Finance Association, New York, NY. 1985.

"Single versus Simultaneous Structure of Security Returns" (with L. Kryzanowski), Best Paper Award, Administrative Science Association of Canada. 1984.

"Whose Betas Are Best Revisited" (with L. Kryzanowski), Financial Management Association, Toronto, Ontario.  1984.

"Structure of Security Returns: Some Conceptual and Econometrics Issues," Administrative Science Association of Canada. 1983.

"A Comparative Analysis of the Determinants of Banks' International Lending: US vs. Japan" (with J. Doukas), Financial Management Association, Atlanta, Georgia.  1983.

"Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: An Econometrics Study" (with R. Harris), 1982 Western Finance Assoc., Portland, Oregon. 1982.

"A Note on the Interdependent Structure of Security Returns," Western Finance Association, San Diego, California.  1980.

"Some Evidence on the Determinants of Capital Structure" (with G. Hite), Financial Management Association, Seattle, Washington. 1977.

MEDIA APPEARANCES

U.S.

WTTW (Chicago Tonight): https://news.wttw.com/2019/07/01/what-risk-management-and-how-will-it-save-chicago-money

Economic Future with Covid-19: https://www.luc.edu/quinlan/stories/archive/our-economic-future-with-covid-19.shtml

Q Talks: Aligning Wall Street and Main Street: Policy, Economics, and the K-Shaped Recovery 

Other Appearances: National Public Radio (NPR), The Chicago Tribune, Nerd Scholar, WBBM Radio, CBS Television, NBC Television, Dow Jones News.

Canada

CBC Radio Information Morning, Newswatch Television, Radio Canada (Newsworld), Global Television, CBC Radio, CJAD Radio

Iran

Taadol News Paper, Tehran, Iran: Commentary on the Joint Comprehensive Plan of Action (JCPOA): Iran, China, France, Germany, Russia, and the U.S.