Home > 125 Events > The 2007 Wharton Economic Summit
The 2007 Wharton Economic Summit ::
Panels
| Current Controversies in Executive Compensation |
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Sponsor: Carol and Lawrence Zicklin Center for Business Ethics Research Moderator: Thomas Dunfee, Joseph Kolodny Professor of Social Responsibility in Business; Professor of Legal Studies and Business Ethics; Chairperson, Legal Studies and Business Ethics Department Panelists: Thomas Donaldson, Wayne R. Guay, Lawrence Zicklin, Adam D. Zoia |
| Friday, April 13 - 11:15 a.m.-12:30 p.m :: Full Summit Schedule |
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Executive compensation is currently controversial. Shareholder advocates and other critics have expressed concerns about issues such as the effectiveness of executive compensation from a shareholders' perspective, the back-dating of options, and whether adequate disclosure occurs. This panel will discuss these and other questions and will comment on proposed remedies. |
| Panelists |
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:: Thomas Donaldson
Mark O. Winkelman Professor; Professor of Legal Studies and Business EthicsThe Wharton School Thomas Donaldson is the Mark O. Winkelman Professor at the Wharton School of the University of Pennsylvania, where he also is director of the Wharton PhD Program in Ethics and Law. Dr. Donaldson has written broadly in the area of business ethics, values, and leadership. His books include: Ties that Bind: A Social Contract Approach to Business Ethics (Harvard University Business School Press, 1999), with T. Dunfee; Ethical Issues in Business, 7th Edition (Prentice-Hall Inc., 2002), with P. Werhane; Ethics in International Business (Oxford University Press, 1989); and Corporations and Morality (Prentice-Hall Inc., 1982). His book, The Ethics of International Business, was the winner of the 1998 SIM Academy of Management Best Book Award. He is president-elect of the Social Issues in Management Division of the Academy of Management, and a founding member and past president of the Society for Business Ethics. He is currently the associate editor of the Academy of Management Review, and a member of the editorial boards of a number of journals, including the Business Ethics Quarterly and Studies in Economic Ethics and Philosophy. His writings have appeared in publications such as the Academy of Management Review; Harvard Business Review; Ethics; and Economics and Philosophy. At Wharton he has received many teaching awards, including the Outstanding Teacher of the Year award in both 2005 and 1998 and (titled the 'Class of 1984 MBA Teaching Award'); the Excellence in Teaching Award in 2005, 2002, 2001, 2000, 1999 , and 1998); the Miller-Sherrerd MBA Teaching Award (in 2005, 2004, 2002, 2001, 2000, 1998, and 1997). Prior to 1996, he was the John F. Connelly Professor of Business Ethics in the School of Business, Georgetown University. There he was voted Outstanding Teacher of the Year by MBA students and Distinguished Researcher of the Year by business school faculty members He has consulted and lectured at many organizations, including the Business Roundtable, Goldman Sachs, Walt Disney, the United Nations, Microsoft, Exelon, Motorola, AT&T, JP Morgan, Johnson & Johnson, KPMG, Los Alamos National Laboratory, ConocoPhillips, Shell, IBM, Western Mining-Australia, Pfizer, the AMA, the IMF, Bankers Trust, the United Nations, and the World Bank. He has appeared on the Today Show, the NBC Nightly News, CNN, MSNBC, CNBC, PBS, and NPR. His remarks have been published in The New York Times, Wall Street Journal, U.S. News & World Report, Newsweek, Fortune Magazine, The Financial Times, and Business Week. He serves as an elected member of the National Adjudicatory Council (NAC) of NASD. In the summer of 2002, he testified in the US Senate regarding the Sarbanes-Oxley corporate reform legislation. In 2006, he addressed and conducted a workshop for the Secretary General of the United Nations, Kofi Anan, and the other Assistant Secretary Generals regarding the UN's reform initiative. |
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:: Wayne R. Guay
Associate Professor of AccoutingThe Wharton School Wayne R. Guay is associate professor of Accounting at The Wharton School of the University of Pennsylvania. He has published many articles in leading accounting, finance and economics journals on topics such as design of executive compensation contracts, stock-based incentives, accounting and valuation of employee stock options, risk management, firm valuation, and earnings management. He has lectured and presented his research at more than 70 universities and conferences around the world. Dr. Guay's research on stock option accounting and valuation was selected by the Financial Executive Research Foundation as the 2002 Article of the Year in The Accounting Review. He currently serves on editorial boards of the Journal of Accounting & Economics, Journal of Accounting Research, and The Accounting Review. Dr. Guay has consulted for several public and private organizations, and has provided expert testimony in a variety of high-profile litigation matters. His consulting focuses on design of executive compensation and incentives, employee stock option valuation and accounting treatment, insider trading, and firm valuation and financial statement analysis. Dr. Guay received an undergraduate degree in Engineering and Management from Clarkson University, an MBA from Northeastern University, and a Ph.D. in Accounting from the Simon School of Business at the University of Rochester. |
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:: Lawrence Zicklin , WG'59
Clinical ProfessorStern School of Business, New York University Larry Zicklin is a clinical professor at the Stern School at New York University, a senior fellow at the Wharton School and a member of Duke Corporate Education's Global Learning Resource Network. Mr. Zicklin's area of expertise is corporate governance, professional responsibility, ethics and corporate social responsibility. He teaches both in the Trium programs and the MBA Programs at NYU Stern and has received teaching awards in both. He also teaches for CUNY Baruch, including their program in Taiwan, and for Wharton in their MBA program where he has received two teaching awards. Mr. Zicklin is president of the board of the Baruch College Fund, and has also served as president and chairman of the board of UJA/Federation of New York. He is a director of BZL Biologics, Inc. (Research Company studying antibody-based therapeutics) and Liquidnet Inc, (an alternative trading system for large institutional investors). He is an Advisory Board Member of LRN-RAND Center of Corporate Ethics, Law and Governance Mr. Zicklin retired as chairman of the board from Neuberger Berman in 2003, having previously been managing partner and CEO until 1999. |
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:: Adam D. Zoia , C'91, W'91
Managing PartnerGlocap, Inc. Adam Zoia is the founder and managing partner of Glocap, a global headhunting firm specializing in financial services and particularly in the alternative asset industry. Glocap has two main divisions: executive search and infrastructure. Through those two divisions, Glocap covers the following practice areas: hedge funds, asset management, private equity, venture capital, investment banking, capital markets, wealth management, corporate development, consulting, advertising/consumer marketing, legal/compliance, risk management, fund marketing/IR, IT, accounting/operations, administrative/support, and temporary staffing. In addition to managing the firm, Zoia currently runs the firm's Hedge Fund Practice and its On-Cycle Analyst Product. Zoia has been actively recruiting hedge fund and private equity professionals for 10 years and has worked on searches for many of the well-established firms in the US, Europe and Asia. He is a frequent speaker at hedge fund conferences around the country and is the co-editor-in-chief of the annual Hedge Fund Compensation Report (published with Institutional Investor News and Lipper/TASS). Zoia started his career as an academic, having taught at Harvard College for three years as a teaching fellow in economics. He holds a BS in Economics from the Wharton School with a concentration in finance (summa cum laude; Joseph Wharton Scholar), a BA in History from the University of Pennsylvania (summa cum laude; Benjamin Franklin Scholar), an honors BA in Politics, Philosophy & Economics from Oxford University Balliol College (graduated with a first on all papers) and a JD from Harvard Law School (magna cum laude). He lives in New York City with his wife and 3 children and is an avid skier and sailor. |
