Wayne R. Guay Faculty Profile

Wayne R. Guay
Yageo Associate Professor; Associate Professor of Accounting

PhD, University of Rochester, 1998; MS, University of Rochester, 1996; MBA, Northeastern University, 1993; BS, Clarkson University, 1989

Research Areas
Executive stock options, compensation, stock ownership and incentives; financial accounting for employee stock options, derivative securities and risk management; firm valuation and cost of capital

Current Projects
Corporate governance and contracting issues related to executive stock options and stock-based incentives; estimating the equity cost of capital; the informational and governance role of the media.

Academic Positions Held
Wharton: 1997-present (name Yageo Associate Professor, 2007)

Representative Publications
“The Power of the Pen and Executive Compensation,” with John Core and David Larcker, Journal of Financial Economics 88, (2008): 1-25. “Is Accruals Quality a Priced Risk Factor?,” with John Core and Rodrigo Verdi, forthcoming in Journal of Accounting & Economics, (2008). “Does Weak Governance Cause Weak Stock Returns? An Examination of Firm Operating Performance and Investors’ Expectations,” with John Core and Tjomme Rusticus, Journal of Finance 56, (2006): 655-687.