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Who Owns the World Cup?

A plan to sell minority stakes in the commercial business surrounding FIFA competitions has triggered a major confrontation with European soccer. UEFA and its 55 national associations have reportedly agreed to boycott FIFA competitions while the proposal remains active. The dispute touches on sports governance, private investment, legal authority, media rights and the growing commercialization of the World Cup. Writing a story around this unprecedented event?  Connect with leading experts below for insight and commentary. Matthew Robinson — University of Delaware Robinson specializes in international sports governance, sport diplomacy and global sport development. His work is particularly relevant to the power struggle between FIFA, UEFA and national associations—and what a coordinated European boycott could mean for FIFA’s authority. Thomas Smith — Emory University’s Goizueta Business School Smith studies sports economics, finance and the business of entertainment. Canprovide insight into the financial thinking behind FIFA’s proposal, including the trade-off between receiving capital now and sharing future World Cup revenues. Tim Derdenger — Carnegie Mellon University’s Tepper School of Business Derdenger studies sports markets, sponsorship and the commercialization of major sporting events. His research is relevant to the potential effects on broadcast value, sponsors, fan interest and the overall World Cup brand. Klaas Baks — Emory University’s Goizueta Business School Baks specializes in private equity, alternative investments, mergers and acquisitions and business valuation. His expertise can help explain how investors might value FIFA’s commercial assets and what they would typically expect from a minority investment. Andrew Brandt — Villanova University Brandt’s expertise spans sports law and sports business. That experience is relevant to questions about FIFA’s authority over its members, the legal consequences of a boycott and the potential impact on players, sponsors, broadcasters and host countries. Tim DeSchriver — University of Delaware DeSchriver researches sport finance, economics and marketing. His work can help frame the broader financial question: Is FIFA unlocking the value of its competitions, or giving up a share of long-term revenue in exchange for immediate funding? Reach out to these experts now for your next story.  All inquiries are monitored to ensure time-sensitive request and deadlines are met. For more FIFA and WorldCup information visit our World Cup Expert Hubs.

Brian Levine, M.D., Named Chief Academic Officer and Intellectual Property Administrator

ChristianaCare announced Feb. 12 the promotion of Brian Levine, M.D., to chief academic officer, along with his appointment as intellectual property administrator. He will also continue in his role as designated institutional official. As chief academic officer and leader of ChristianaCare’s Department of Academic Affairs, Levine oversees 38 residency and fellowship programs encompassing 315 residents and fellows, along with the education and training of students across the continuum of medical education. He leads the continued growth and strengthening of ChristianaCare’s undergraduate and graduate medical education infrastructure, ensuring that ChristianaCare continues to prepare physicians to care for our community well into the future. In addition, Levine oversees physician assistant education and allied health educational programming, supporting workforce development and long-term community health needs. As the largest academic medical center between Philadelphia and Baltimore, ChristianaCare has been a hub of academic excellence for over a century. ChristianaCare is one of the largest community-based teaching hospital systems in the United States. ChristianaCare also serves as the Delaware Branch Campus for Sidney Kimmel Medical College and the Philadelphia College of Osteopathic Medicine. This unique program allows medical students to complete their third and fourth years of clinical rotations exclusively at ChristianaCare, providing a clear pathway to launch their medical careers in Delaware. Each year, 55 students participate in the Branch Campus program, with many continuing into ChristianaCare’s highly sought-after residency programs and remaining in Delaware to serve local communities. ChristianaCare is a destination of choice for medical students and residents because of its strong patient-centered culture, reputation for excellence, and diversity of clinical experiences that include urban and suburban campuses with a wide range of pathologies. In his newly expanded role as intellectual property administrator, Levine manages and enforces ChristianaCare’s intellectual property policy, ensuring fair and consistent application in alignment with applicable laws and regulations. He also leads the multidisciplinary committee responsible for guiding organizational decisions related to intellectual property valuation, commercialization strategies and revenue distribution. Levine brings deep experience in academic medicine, health system education and scholarly publishing to these responsibilities. An emergency physician, he led the development of widely used clinical reference guides published by the Emergency Medicine Residents’ Association. These pocket-sized tools — covering topics such as antibiotic stewardship, orthopedic injury management, and EKG interpretation — are used by thousands of emergency medicine residents worldwide. Levine has held leadership roles at ChristianaCare for nearly two decades. Since 2018, he has served as associate chief academic officer and designated institutional official. Previously, he was program director of the Emergency Medicine Residency program from 2012 to 2018 and associate program director from 2006 to 2012. Levine is a clinical professor of Emergency Medicine at Sidney Kimmel Medical College at Thomas Jefferson University and previously served as associate medical director for the LifeNet aeromedical transport program. He earned his medical degree from the University of Vermont Larner College of Medicine and completed his emergency medicine residency at ChristianaCare.

AI as IP™: A Framework for Boards, Executives, and Investors

Under current corporate accounting practices, artificial intelligence (AI) companies’ most valuable resources – large language models, training datasets, and algorithms – remain “off the books” or uncapitalized. As the importance of AI continues to grow in the global knowledge-based economy, financial statements are becoming less representative of a company’s true worth, creating a recognition gap. In this article, James E. Malackowski, Eric Carnick, and David Ngo present several conceptual frameworks to bridge this gap. They explain how the triangulation of three valuation approaches can reveal both the tangible investment base and the intangible, strategic upside of AI assets. In turn, these approaches provide board-level visibility into where AI capital resides and how it contributes to enterprise value. James E. Malackowski is the Chief Intellectual Property Officer (CIPO) of J.S. Held and Co-founder of Ocean Tomo, a part of J.S. Held. Mr. Malackowski has served as an expert on over one hundred occasions on intellectual property economics, including valuation, royalty, lost profits, price erosion, licensing terms, venture financing, copyright fair use, and injunction equities. He has substantial experience as a Board Director for leading technology corporations, research organizations, and companies with critical brand management issues.  This article is the second installment in our three-part series, Artificial Intelligence as Intellectual Property or “AI as IP™”, which explores how artificial intelligence assets should be treated as a form of intellectual property and enterprise capital. The first article, “A Strategic Framework for the Legal Profession”, explored the legal foundations for recognizing and protecting AI assets. The upcoming third article, “Guide for SMEs to Classify, Protect, and Monetize AI Assets”, will provide practical steps for small and mid-sized enterprises to turn AI into measurable economic value. To explore the topic further, simply connect with James through his icon below.

Unlocking Liquidity Through Fine Art Appraisal and Lending

As financial markets shift, fine art collectors and investors are discovering new ways to unlock liquidity without parting with prized works. Art-backed loans, supported by professional appraisal, allow owners to access capital while maintaining ownership and display rights. This article explores how lenders and borrowers alike can benefit from these arrangements—when supported by rigorous appraisal standards and careful risk management. What’s covered: • The role of USPAP-compliant appraisal in fine art lending • How fair market value differs from insurance replacement value • Loan-to-Value (LTV) ratios and best practices in structuring art-backed loans • Key borrower responsibilities: insurance, storage, and title maintenance • Risk considerations for lenders, including authenticity, liquidity, and due diligence Connect with the Experts Amanda McConaha Senior Fine Art Appraiser Expert in Post-War, Contemporary, and Emerging Fine Art valuations, specializing in collateral loans and insurance appraisals. amanda.mcconaha@jsheld.com Michael Alexander Senior Vice President, Economic Damages & Valuations Brings deep expertise in valuation methodologies, forensic investigations, and financial analysis. michael.alexander@jsheld.com Dalton Campbell Consultant, Economic Damages & Valuations Provides financial and economic analysis with a focus on valuation, estate law, and all stages of pre-litigation and litigation support. dalton.campbell@jsheld.com For any media inquiries, contact : Kristi L. Stathis, J.S. Held +1 786 833 4864 Kristi.Stathis@JSHeld.com.

The Growing Importance of the Chief Intellectual Property Officer: A Strategic Imperative for the Knowledge Economy

Intangible assets now make up more than 90% of S&P 500 market value — yet many organizations still lack a dedicated executive role to manage them strategically. This is where the Chief Intellectual Property Officer (CIPO) comes in. In this expert-backed piece, J.S. Held's Chief Intellectual Property Officer James E. Malackowski, CPA, CLP, and his colleague David Ngo unpack the economic forces shaping this role, the skills CIPOs bring to the table, and why forward-thinking companies are making IP leadership a boardroom priority. What you’ll learn: • The economic forces driving the rise of CIPO leadership • How CIPOs bridge legal, technical, and commercial priorities to unlock value • The growing relevance of CIPOs in consulting, insurance, and AI-driven industries • Practical strategies for integrating IP leadership into portfolio and risk management • Why the next decade will define the CIPO’s role in corporate success With deep expertise in IP strategy, valuation, and litigation, Malackowski and Ngo offer a clear, compelling case for elevating IP leadership to the C-suite. Looking to connect with the experts? Click on their profiles to arrange an interview or gain deeper insights into intellectual property strategy, risk, and valuation. James E. Malackowski, CPA, CLP Chief Intellectual Property Officer, J.S. Held | Co-founder and Senior Managing Director, Ocean Tomo Global leader in intellectual property valuation, strategic advisory, and expert testimony. Recognized among IAM’s “World’s Leading IP Strategists” and a pioneer in IP exchange models. David Ngo Senior Analyst, Intellectual Property Disputes Financial Expert Testimony, Ocean Tomo, a part of J.S. Held Specialist in quantifying economic damages in IP disputes and valuing intangible assets, with expertise in applying economic and financial analysis to complex litigation. For any other media inquiries, contact : Kristi L. Stathis, J.S. Held +1 786 833 4864 Kristi.Stathis@JSHeld.com.

#Expert Research: The Use of AI in Financial Reporting

Artificial intelligence (AI) is developing into an amazing tool to help humans across multiple fields, including medicine and research, and much of that work is happening at Emory University’s Goizueta Business School. Financial reporting and auditing are both areas where AI can have a significant impact as companies and audit firms are rapidly adopting the use of such technology. But are financial managers willing to rely on the results of AI-generated information? In the context of audit adjustments, it depends on whether their company uses AI as well. Willing to Rely on AI? Cassandra Estep, assistant professor of accounting at Goizueta Business School, and her co-authors have a forthcoming study looking at financial managers’ perceptions of the use of AI, both within their companies and by their auditors. Research had already been done on how financial auditors react to using AI for evaluating complex financial reporting. That got Estep and her co-authors thinking there’s more to the story. “A big, important part of the financial reporting and auditing process is the managers within the companies being audited. We were interested in thinking about how they react to the use of AI by their auditors,” Estep says. “But then we also started thinking about what companies are investing in AI as well. That joint influence of the use of AI, both within the companies and by the auditors that are auditing the financials of those companies, is where it all started.” The Methodology Estep and her co-authors conducted a survey and experiment with senior-level financial managers with titles like CEO, CFO, or Controller – the people responsible for making financial reporting decisions within companies. The survey included questions to understand how companies are using AI. It also included open-ended questions designed to identify key themes about financial managers’ perceptions of AI use by their companies and their auditors. In the experiment, participants completed a hypothetical case in which they were asked about their willingness to record a downward adjustment to the fair value of a patent proposed by their auditors. The scenarios varied across randomly assigned conditions as to whether the auditor did or not did not use AI in coming up with the proposed valuation and adjustment, and whether their company did or did not use AI in generating their estimated value of the patent. When both the auditor and the company used AI, participants were willing to record a larger adjustment amount, i.e., decrease the value of the patent more. The authors find that these results are driven by increased perceptions of accuracy. It’s not necessarily a comfort thing, but a signal from the company that this is an acceptable way to do things, and it actually caused them to perceive the auditors’ information as more accurate and of higher quality. Cassandra Estep, assistant professor of accounting “Essentially, they viewed the auditors’ recommendation for adjusting the numbers to be more accurate and of higher quality, and so they were more willing to accept the audit adjustment,” Estep says. Making Financial Reporting More Efficient Financial reporting is a critical process in any business. Companies and investors need timely and accurate information to make important decisions. With the added element of AI, financial reporting processes can include more external data. We touched on the idea that these tools can hopefully process a lot more information and data. For example, we’ve seen auditors and managers talk about using outside information. Cassandra Estep “Auditors might be able to use customer reviews and feedback as one of the inputs to deciding how much warranty expense the company should be estimating. And is that amount reasonable? The idea is that if customers are complaining, there could be some problem with the products.” Adding data to analytical processes, when done by humans alone, adds a significant amount of time to the calculations. Research from the European Spreadsheets Risks Interest Group says that more than 90% of all financial spreadsheets contain at least one error. Some forms of AI can process hundreds of thousands of calculations overnight, typically with fewer errors. In short, it can be more efficient. Efficiency was brought up a lot in our survey, the idea that things could be done faster with AI. Cassandra Estep “We also asked the managers about their perspective on the audit side, and they did hope that audit fees would go down, because auditors would be able to do things more quickly and efficiently as well,” Estep says. “But the flip side of that is that using AI could also raise more questions and more issues that have to be investigated. There’s also the potential for more work.” The Fear of Being Replaced The fear of being replaced is a more or less universal worry for anyone whose industry is beginning to adopt the use of AI in some form. While the respondents in Estep’s survey looked forward to more efficient and effective handling of complex financial reporting by AI, they also emphasized the need to keep the human element involved in any decisions made using AI. What we were slightly surprised about was the positive reactions that the managers had in our survey. While some thought the use of AI was inevitable, there’s this idea that it can make things better. Cassandra Estep “But there’s still a little bit of trepidation,” Estep says. “One of the key themes that came up was yes, we need to use these tools. We should take advantage of them to improve the quality and the efficiency with which we do things. But we also need to keep that human element. At the end of the day, humans need to be responsible. Humans need to be making the decisions.” A Positive Outlook The benefits of AI were clear to the survey participants. They recognized it as a positive trend, whether or not it was currently used in their financial reporting. If they weren’t regularly using AI, they expected to be using it soon. I think one of the most interesting things to us about this paper is this idea that AI can be embraced. Companies and auditors are still somewhat in their infancy of figuring out how to use it, but big investments are being made. Cassandra Estep “And then, again, there’s the fact that our experiment also shows a situation where managers were willing to accept the auditors’ proposed adjustments. This arguably goes against their incentives as management to keep the numbers more positive or optimistic,” Estep continues. “The auditors are serving that role of helping managers provide more reliable financial information, and that can be viewed as a positive outcome.” “There’s still some hesitation. We’re still figuring out these tools. We see examples all the time of where AI has messed up, or put together false information. But I think the positive sentiment across our survey participants, and then also the results of our experiment, reinforce the idea that AI can be a good thing and that it can be embraced. Even in a setting like financial reporting and auditing, where there can be fear of job replacement, the focus on the human-technology interaction can hopefully lead to improved situations.” Cassandra Estep, is an assistant professor of accounting at Goizueta Business School, and a co-author of the forthcoming study looking at financial managers’ perceptions of the use of AI. She's available to speak about this important topic - simply click on her icon now to arrange an interview today.

Reddit Shares Expected to Commence Trading on NYSE | Media Advisory

In a move emblematic of the digital age's intersection with traditional finance, Reddit, the vast online community platform, is poised to debut its shares on the New York Stock Exchange (NYSE). This event marks a significant milestone for the company, celebrated for its user-generated content and vibrant forums that span every conceivable interest. For investors, tech enthusiasts, and users alike, Reddit's transition from a private to a public entity opens up discussions on the valuation of online communities, the future of digital platforms, and the implications for the broader stock market. Key sub-topics include: Initial Public Offering (IPO) Details: Insights into Reddit's valuation, share pricing, and the IPO process. Impact on the Tech Industry: What Reddit's public listing means for the tech sector and other social media platforms. User Community Reaction: How Reddit's dedicated user base perceives the move to go public and potential changes to the platform. Market Performance and Investor Sentiment: Analysis of investor interest, market trends, and the potential for Reddit's stock. Corporate Governance and Strategy: The shift in Reddit's management approach post-IPO and strategic plans for growth. The Role of Digital Platforms in Modern Investing: How Reddit and similar platforms influence investor decisions and market dynamics. For journalists seeking research or insights for their coverage on this topic, here is a select list of experts. Scott Stratten President & CEO · UnMarketing Samantha Bradshaw Doctor of Philosophy Candidate · Oxford Internet Institute David Meerman Scott Marketing Strategist, Keynote Speaker, Bestselling Author Sean Thoennes, Ph.D. Associate Faculty - Media Psychology · Fielding Graduate University To search our full list of experts visit www.expertfile.com Photo by Brett Jordan

Expert Podcasts: In Corporate Valuation, Customers are King

From investors to managers, business leaders need to understand the true value of companies, but many of the traditional methods are outdated and incomplete. Emory University Goizueta Business School's Professor Dan McCarthy joins to discuss customer-based corporate valuation, including the critical role customer lifetime value plays in driving a company’s success. For more insight and if you're interested in knowing more, then check out Dan's conversation that includes why customer data points are most important to monitor and how investors and managers stand to benefit from this approach. It's right here on the Goizueta Effect podcast. Dan is an Assistant Professor of Marketing at Goizueta Business School. His research centers on customer lifetime value, limited data problems, data privacy, and the marketing-finance interface. He is regularly featured as a key expert, with recent coverage in the Harvard Business Review, Wall Street Journal, Fortune, The Economist, and CNBC. If you're looking to connect or arrange an interview – simply click on his icon now to book a time today.

Environmental economics expert Dr Brock on COP26

A number of climate experts from the University of East Anglia will be available for interview during the COP26 climate conference in Glasgow. Their areas of expertise range from the impact of climate change on biodiversity, climate geoengineering and carbon removal, to the impact of climate change on sovereign credit ratings, carbon uptake by the oceans, and gender and climate change. Among them is Associate Professor in Microeconomics, Dr Mike Brock, from UEA's School of Economics. His research areas and expertise cover environmental and behavioural economics, recycling and environmental valuation. He explores how (and why) people behave in a more sustainable or environmental way. Particular projects include financial incentives to encourage recycling through lottery techniques and the use of competitive rankings on personal use of energy to stimulate energy reduction. Mike has also explored people’s behaviours towards wildlife – for example why people flock to see newly-identified species of birds and the environmental of that behaviour.

Why customers hold the key to a company’s true valuation

When determining a fair valuation for a company—especially in anticipation of an initial public offering (IPO)—investors often rely heavily on “top down” approaches focusing primarily on traditional financial measures to do so. But what if this approach doesn’t paint the full picture? Daniel McCarthy, assistant professor of marketing at Emory’s Goizueta Business School, is building the case that augmenting traditional data sources with customer behavior data gives investors a more accurate company valuation. For the past several years, McCarthy and Peter Fader, professor of marketing at the Wharton School of the University of Pennsylvania, have worked to refine a customer-driven investment methodology they created. “Customer-based corporate valuation (CBCV) simply brings more focus to how individual customer behavior drives the top line,” they explained in “How to Value a Company by Analyzing Its Customers,” an article published in the Harvard Business Review (HBR) earlier this year. “This approach is driving a meaningful shift away from the common but dangerous mindset of ‘growth at all costs,’ towards revenue durability and unit economics—and bringing a much higher degree of precision, accountability, and diagnostic value to the new loyalty economy.” Fader, McCarthy’s PhD advisor while he was at Wharton, had done some of the seminal work on forecasting customer shopping/purchasing behaviors. This helped build baseline expertise for how one could go about the customer-level modeling. McCarthy recognized that this behavioral modeling could be put to good use in a financial setting, if done the right way. “There was this untapped source of intellectual property that’s been accumulating within marketing over the last 30 years,” McCarthy said. While other academics have done some conceptual work in the area, none, McCarthy noted, had done so in a way that was consistent with how financial professionals go about performing corporate valuation. McCarthy and Fader merged these well-validated customer-level models with standard corporate valuation methods, then put their resulting valuation tool head-to-head with alternative approaches. They found that their CBCV model subsequently outperformed. A full article on this subject is attached, within it, you will find key CBCV highlights such as: Using unit economics to more accurately predict revenue forecasts Gaining access to the right data The CBCV model is also good for managers and for customers Working to have publicly traded companies adopt CBCV McCarthy’s work on the CBCV methodology has earned him a number of awards, including the MSI Alden G. Clayton, American Statistical Association, INFORMS, and the Shankar-Spiegel dissertation awards. If you are a journalist covering this topic or if you want to learn more about this work or customer-based corporate valuation – then let our experts help. Daniel McCarthy is an Assistant Professor of Marketing at Emory University's Goizueta School of Business where his research specialty is the application of leading-edge statistical methodology to contemporary empirical marketing problems. If you are looking to contact Daniel – simply click on his icon now to arrange an interview today.