Read about the latest center news.



CGBS Director, Terrence Guay did an interview on Wednesday, May 8th with ABC Australia radio on President Joe Biden's threat to stop arms to Israel if Raffah assault continues. Listen to the full interview recording.

The first International Business Case Competition Team in the history of the Penn State Smeal College of Business placed in the top four recently in the NASBITE International Student Case Competition in Las Vegas. The team, sponsored by the Center for Global Business Studies, included four undergraduate students: Tommy Davis, Khadidatou Dia, Amanda Li, and Harrison Mulkey. They collaborated to place in the top four among teams from 14 universities, including George Washington, Iowa and Maryland.

The students began preparing for the competition in late January, and were advised by Cassandra Ghinos, assistant teaching professor of international business, Terrence Guay, associate dean for international programs, Andy Gustafson, associate clinical professor of accounting, and Peter Mhando, associate teaching professor of international business.

Guay, who is also the director of the Center for Global Business Studies, said he was pleased with the team’s performance. “To make it to the finals in an international case competition like this is an outstanding accomplishment, and even more so since Smeal students have never entered an international business case competition before,” he said. “These students were ground-breakers for an initiative I hope CGBS can continue to support in the future.”


Faculty Professional Development Financial Support: Penn State Global is committed to supporting faculty professional development through workshops, training, certification programs and more! While we do try to offer sessions geared specifically for Penn State, there are so many opportunities available! Should you wish to present at a conference, attend a workshop, facilitate a session, or another related experience, please complete this faculty professional development support form to see if we can provide some funding! 

  • Deadline passed: November 15: Priority deadline for spring semester opportunities 
  • January 15: Priority deadline for summer semester opportunities 
  • August 15: Priority deadline for fall semester opportunities
  • All other submissions will be received on a rolling basis 



CGBS Advisory Board member Bill Lane has been named a Penn State University Fundraising Volunteer of the Year. The award recognizes exceptional commitment and leadership in building philanthropic support for the University.

CGBS Advisory Board adds four new members: David Basmajian, Eduardo Cordova, Laura Cushing, and George Strickler.

George and Alice Strickler made a $2.5 million estate commitment to support international experiences for Smeal College of Business students. They are honored with the newly named Strickler Office of International Programs.

Jiro Yoshida was cited in Business Insider in the article "The Sure-Fire Way to Save America's Cities? Do What Tokyo Does."

On October 11, the Center for Global Business Studies, along with the Smeal Business Career Center and
the Smeal Alumni Career Services, co-hosted a panel of alumni who shared their experience of working in international business. The CGBS panelists included Joey Ly, David Basmajian and Daniil Ternovskyi.


Jiro Yoshida wrote an article “Japan’s Housing Market – International Comparisons Reaffirm Housing Supply Advantages” for the Nikkei morning edition’s “Economics Classroom Column.” 


Jiro Yoshida spoke on BBC's The Inquiry about why there are millions of empty homes in Japan.


Pierre Cohade and Terrence Guay discuss "Friends, Partners and Allies: The Future of U.S. Trade Relations Abroad," in Smeal's Better Business Podcasts.


Terrence Guay published “Divide and Conquer: Europe, China, and Policy Coherence,” (with Michael Smith), in Contestation and Polarization in Global Governance: European Responses, Michelle Egan, Kolja Raube, Jan Wouters, and Julien Chaisse (eds.), (Cheltenham, UK: Edward Elgar), 2023, pp. 160-178.


Jiro Yoshida discusses US Federal Reserve study on banks' preparedness for climate change shocks in Vox.



The Center for Global Business Studies (CGBS) provides funding for students to assist Smeal faculty with their international-oriented research through the CGBS International Research Awards. Several awards are offered each semester on a competitive basis. Students receive $750 from the CGBS and are expected to complete approximately 50 hours of research. Students should submit their application by December 23 for consideration for Spring 2023 Semester awards. The one-page application is available here:


Fariborz Ghadar published The Danger of Devaluing Immigrants: Impacts on the U.S. Economy and Society, (ABC-CLIO Press)


Terrence Guay interviewed by BBC World Business Report on how war in Ukraine is affecting Russian arms exports and defense industry.


Terrence Guay appointed Associate Dean for International Programs.


Faculty Council members Lou Gattis, Terrence Guay, and Peter Mhando offer their perspectives on the international business implications of the Ukraine-Russia conflict in the Summer issues of Smeal Magazine.

Terrence Guay published "Global Arms Industry Getting Shakeup by War in Ukraine - and China and US look like Winners from Russia's Stumbles" The Conversation, June 7.


Recipients of Undergraduate Student Research Awards Announced

Four undergraduate students will each receive a $750 award to do international business research with Smeal faculty members during the Fall 2022 semester: Isabel Cacho Gonzalez (SCIS '24), Kruti Patel (MIS '23), Alex Pham (FIN '24), and Zachary Watson (FIN '24). They will be working directly with Smeal faculty members Dan Cahoy, Terrence Guay, Maurie Kelly, and Peter Mhando. Research projects include analyzing global real estate prices, identifying current events in emerging markets, collecting data on private investment in Africa, reviewing cases of business behaviors and human rights, and researching political responses to outward Chinese investment. Congratulations to the award winners!


CGBS advisory board announced and holds first meeting. Smeal College of Business News. 

Jiro Yoshida discussed global housing affordability issues at YIMBYtown 2022.


"How the Russia–Ukraine conflict could disrupt food and finance around the world" by Lou Gattis, Terrence Guay, and Peter Mhando. Penn State News.


CGBS Advisory Board met in-person in the Smeal College of Business and virtually from five time zones on February 21. Members informed each other of their professional experiences, heard presentations from Dean Chuck Whiteman and Professor Jeff Sharp, Associate Dean of International Programs, and discussed initiatives and goals for the Center.

CGBS Faculty Council met to discuss upcoming activities and objectives for the Center.


Academy of International Business 2022 Conference. Miami, July 6-9. Submission Deadline: January 10, 2022. Call for papers



Recipients of Undergraduate Student Research Awards Announced

Three students will each receive a $750 award to do international business research with Smeal faculty members during the Spring 2022 semester: Yanting Guo (SCIS '22), Yicheng Shen (Finance '23), and Chunyang Zhang (SCIS '22). Research projects include identifying MNE best practices for implementing sustainability strategies, comparing responses to Chinese foreign investment in Western countries, technology adoption among Mexican retailers, and the impact of Covid-19 on international business. Congratulations to award winners!

Jiro Yoshida: Guest speaker at UCLA Lewis Center for Regional Policy Studies on Japanese housing policy.


Terrence Guay: Publication "Corporate Social Responsibility, Public Policy, and NGO Activism in Europe and the United States: An Institutional-Stakeholder Perspective" included in Journal of Management Studies Thematic Collection highlighting most influential articles on corporate social responsibility.