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
(with S.P. Kothari)
"How Much Do firms Hedge With Derivatives." The Journal of Financial Economics (2003).

(with J. Core and S.P. Kothari)
"The Economic Dilution of Employee Stock Option: Diluted ESP for Valuation and Financial Reporting." The Accounting Review (2002).

(with J. Core)
"Estimating the Value of Executive Stock Option Portfolios and Their Sensitivities to Price and Volatility." Journal of Accounting Research (2002).