Corporate Governance Expert Available to Discuss Appointment of Executive Compensation Overseer
June 11, 2009
Drexel's Dr. Ralph Walkling, executive director of the Corporate Governance Center at LeBow College of Business, is available to comment on the Obama administration’s appointment of Kenneth R. Feinberg to oversee executive pay at some of the biggest firms at the heart of the economic crisis.
Walkling, also the Stratakis Chair in Corporate Governance at LeBow, can discuss the following:
• Can one individual, no matter how talented be capable of determining the ‘correct’ pay structure for over 80 companies?
• Does one size fit all? Can a single individual be capable of identifying the unique needs of each company?
• Why do compensation committees need flexibility to design the appropriate executive package?
Walking encourages independence of compensation committees. “Our research shows that compensation committees are, on average, sensitive to the interests of shareholders,” he said. “For example, when members of the compensation committee receive even slightly lower votes in director elections, CEOs experience adjustments in the level of abnormal compensation that tend to align owner manager interests.”
Walkling is internationally known for his research involving corporate governance and corporate acquisitions. Walkling has been listed in the top one percent of more than 12,000 finance authors in terms of academic citations to their work. He is a regular consultant to industry and a leading contributor to the top refereed journals in his field including The Journal of Financial Economics, The Journal of Finance, The Journal of Financial and Quantitative Analysis and The Rand Journal of Economics. Walkling has received numerous awards for best papers in corporate finance and excellence in graduate teaching. In 2008 the Eastern Finance Association awarded him their scholar of the year award.
News Media Contacts:
Niki Gianakaris, director, Drexel News Bureau
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Lisa Litzinger, assistang communications director
LeBow College of Business
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