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		<title>Corporate Governance</title>
		<link>http://www.lebow.drexel.edu/Centers/CorpGov/Headlines.php?action=viewHeadlines&amp;utm_source=index&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
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		<pubDate>Thu 09 Feb 2012 22:30:18 GMT</pubDate>
		<lastBuildDate>Thu 09 Feb 2012 22:30:18 GMT</lastBuildDate>
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		<copyright>copyright 2012 LeBow College of Business</copyright>		<language>en-us</language>
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				<title>Staving Off the Side Effects of the Steve Jobs Syndrome</title>
				<link>http://www.foxbusiness.com/markets/2010/01/29/staving-effects-steve-jobs-syndrome/?utm_source=feedburner&amp;utm_medium=feed&amp;utm_campaign=Feed%253A+foxbus?&amp;utm_source=881&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Steve Jobs Syndrome. Because a portion of these companies' market values reflect the perceived value of the CEO, the importance of contingency planning can't be overstated.  &amp;acirc;It is frightening to think when companies are CEO-dependent how much that value could shift by a change in the CEO,&amp;acirc; said Ralph Walkling, executive director at Drexel University's LeBow Center for Corporate Governance. 

Of course, it's not inherently a bad thing for a company to be in this category, especially if it is successful. 

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				<pubDate>Fri, 04 Feb 2011 15:26:00 -0500</pubDate>
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				<title>Finance Professor Jie Cai traveled to Australia to present a paper</title>
				<link>http://www.finance.unimelb.edu.au/research/DDU10/DDU2010.html?&amp;utm_source=687&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Professor Cai presented his paper &amp;quot;Stock Option Grants to Target CEOs during Private Merger Negotiations&amp;quot; coauthored with Prof. Elizer Fich and Ph.D. student Anh Tran at the Sixth Finance Down Under Conference on March 25 in Melbourne, Australia. The conference was organized by the Melbourne Derivatives Research Group Department of Finance at the University of Melbourne.]]></description>
				<pubDate>Mon, 12 Apr 2010 10:03:00 -0400</pubDate>
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				<title>Dr. Ralph Walkling Heads ABA Subcommittee Webinar</title>
				<link>http://www.abanet.org/dch/committee.cfm?com=CL260011?&amp;utm_source=670&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[On March 10, 2010, Dr. Ralph Walkling participated in a live Web cast and teleconference presented as part of the ABA Subcommittee on Corporate Governance's Inside the Boardroom series. The focus of this Webinar was on &amp;quot;Shareholder Activism - A Look at the Evidence.&amp;quot;]]></description>
				<pubDate>Thu, 18 Mar 2010 16:19:00 -0400</pubDate>
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				<title>Dr. Ralph A. Walkling Featured in Philadelphia Inquirer Article</title>
				<link>http://www.philly.com/inquirer/business/20100314_This_Economy__Financial_regulation_a_tricky_process.html?&amp;utm_source=655&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Ralph Walkling, Ph.D., executive director of LeBow College Center for Corporate Governance, was quoted in an article published in The Philadelphia Inquirer titled &amp;quot;This Economy: Financial Regulation a Tricky Process&amp;quot; which talked about the evolution of businesses to changing economic landscapes and their ability to stay ahead of changing regulations. ]]></description>
				<pubDate>Sun, 14 Mar 2010 11:50:00 -0400</pubDate>
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				<title>Dr. Ralph A. Walkling Featured in Interview on FoxBusiness.com</title>
				<link>http://video.foxbusiness.com/v/3998721/larger-than-life-ceos/?playlist_id=87185?&amp;utm_source=624&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Ralph Walkling, Ph.D., executive director of the Center for Corporate Governance at Drexel University's LeBow College of Business, spoke with FoxBusiness.com Live about the risks of a company becoming too CEO-centric.

]]></description>
				<pubDate>Fri, 19 Feb 2010 14:51:00 -0500</pubDate>
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				<title>Dr. David Becher Featured in Philadelphia Inquirer Article</title>
				<link>http://www.philly.com/philly/blogs/phillyinc/Kraft-Cadbury_deal_mirrors_Drexel_profs_takeover_research.html?&amp;utm_source=617&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[David Becher Ph.D., associate professor of finance, was featured in an article in the Philadelphia Inquirer about the Kraft-Cadbury acquisition.  

Becher has been researching the expected value of a target company when there is a contested takeover, examining deals between 1993 and 2003.

The article points out that Becher&amp;acirc;s research indicates that when management turns down the first offer in a hostile deal, there is usually another bid later at a higher price &amp;acirc; which is exactly what happened in the Kraft-Cadbury deal.

]]></description>
				<pubDate>Tue, 02 Feb 2010 13:46:00 -0500</pubDate>
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				<title>Dr. David Becher Featured in Pittsburgh Post Article</title>
				<link>http://www.post-gazette.com/pg/10024/1030405-435.stm?&amp;utm_source=616&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[David Becher Ph.D., associate professor of finance, was featured in an article in the Pittsburgh Post Gazette about takeovers and the recent bid by Kraft Food's to acquire the British candy maker Cadbury. The article was also picked up by Business Week.

Dr. Becher said last week's culmination of Kraft Food's four-month fight to acquire British confectioner Cadbury fits with what he found when studying 104 hostile takeover bids made between 1993 and 2000.

In those contests, targeted companies that resisted the first offer got at least one additional offer from the same suitor or another bidder more than half of the time. Moreover, the final offer reflected a premium about 22 percentage points higher than the first bid and increased the likelihood of the offer being accepted.

]]></description>
				<pubDate>Tue, 02 Feb 2010 13:45:00 -0500</pubDate>
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				<title>Dr. David Becher Quoted in Patriot News Article</title>
				<link>http://www.pennlive.com/news/patriotnews/index.ssf?/base/news/1264389004136790.xml&amp;coll=1?&amp;utm_source=615&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[David Becher Ph.D, associate professor of finance, was quoted in an article titled &amp;acirc;Cravings of Company, Trust Diverge&amp;acirc; in The Patriot News about Hershey&amp;acirc;s failed bid to acquire the British confectioner Cadbury.

Becher argued that Hershey's handling of Cadbury appeared to play out as it should have.

&amp;quot;That's the positive to take out of this: There's a limit to how much debt they were willing to take on,&amp;quot; Becher said. &amp;quot;If you offered too much, you may win, but you lose.&amp;quot;

]]></description>
				<pubDate>Tue, 02 Feb 2010 13:43:00 -0500</pubDate>
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				<title>Dr. Ralph A. Walkling Quoted in FOX Business Article</title>
				<link>http://www.foxbusiness.com/story/markets/industries/staving-effects-steve-jobs-syndrome/?&amp;utm_source=614&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Ralph Walkling Ph.D., executive director of LeBow College Center for Corporate Governance, was quoted in an article titled &amp;quot;Staving off the Side Effects of the Steve Jobs Syndrome&amp;quot; featured on Fox Business.

&amp;acirc;It is frightening to think when companies are CEO-dependent how much that value could shift by a change in the CEO. Even if they don&amp;acirc;t supply the creativity, their departure would certainly necessitate a public-relations campaign,&amp;acirc; said Walkling.

]]></description>
				<pubDate>Tue, 02 Feb 2010 13:39:00 -0500</pubDate>
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				<title>Jie Cai, Assistant Professor of Finance and CCG Fellow Quoted in Fox News Story</title>
				<link>http://www.foxbusiness.com/story/represents-taxpayers-stakes-tarp-banks-good-question/?&amp;utm_source=572&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Jie Cai, Ph.D., assistant professor of finance at LeBow College of Business and a fellow at our Center for Corporate Governance, was quoted in a Fox News article titled &amp;quot;Who Represents Taxpayers' Stakes in TARP Banks? Good Question.&amp;quot;
&amp;acirc;If the U.S. government still holds those shares when Citigroup holds its next shareholder meeting, then the U.S. government is just like any other shareholder,&amp;acirc; Cai said. &amp;acirc;And just like any other shareholder, they can vote any way they like.&amp;acirc;
Cai noted that the bank hopes to do that, but that efforts to raise money by issuing additional shares will depend on market conditions. &amp;acirc;It will be interesting to see how it plays out,&amp;acirc; he said.
]]></description>
				<pubDate>Fri, 23 Oct 2009 15:54:00 -0400</pubDate>
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				<title>CCG Fellows' Research Gets Quoted in The San Francisco Chronicle</title>
				<link>http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/15/BUCD1A58UI.DTL?&amp;utm_source=573&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[A column in the San Francisco Chronicle refers to a research paper authored by LeBow College professors Eliezer Fich, Ph.D., associate professor of finance, and Jie Cai, Ph.D., assistant professor of finance, as well as Anh L. Tran, in listing questions that the reporter prepared for a potential interview with President Barack Obama.
The proposed question: &amp;quot;Might the promised financial reforms address issues like 'spring loading?' That is, the granting of new stock options to CEOs and other corporate honchos 'systematically timed' with takeover talk concerning their companies, according to a research paper from Drexel University's LeBow College of Business.&amp;quot;
]]></description>
				<pubDate>Thu, 15 Oct 2009 16:00:00 -0400</pubDate>
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				<title>CCG Fellow and Associate Professor of Finance Eliezer Fich quoted in Wall Street Journal </title>
				<link>http://online.wsj.com/article/SB125530435544579223.html?&amp;utm_source=574&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Eliezer Fich, Ph.D., associate professor of finance at LeBow College of Business, was quoted in a Wall Street Journal article about the practice of awarding stock options to top executives while engaging in negotiations to be acquired.
&amp;quot;It's very selfish behavior by these CEOs,&amp;quot; argues Fich, co-author of a research paper on the topic with Jie Cai, an assistant professor of finance at LeBow College, and Anh L. Tran. &amp;quot;They want to get the last nickel from the company, regardless of what's in the best interests of shareholders.&amp;quot;
Their paper, which has been presented at academic conferences but not yet published, examined 110 deals between 1999 and 2006 in which target company CEOs were given unscheduled stock-option grants while takeover discussions had started but hadn't yet been made public.  
]]></description>
				<pubDate>Sat, 10 Oct 2009 16:07:00 -0400</pubDate>
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				<title>CCG Fellow Dr. Ed Nelling speaks with KWY News Radio</title>
				<link>http://www.kyw1060.com/pages/5365723.php??&amp;utm_source=575&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Ed Nelling, Ph.D., a LeBow College of Business professor of finance, commented on a story about why American Express has just repealed monthly service fees on gift cards. &amp;quot;Especially in the current economic climate with everyone watching every dollar so closely, people were averse to using these gift cards or giving these gift cards to someone when they know that the gift card may waste away after some time.&amp;quot;]]></description>
				<pubDate>Mon, 05 Oct 2009 16:09:00 -0400</pubDate>
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				<title>CCG Fellow and Associate Professor of Finance Eliezer Fich featured in CNBC Guest Blog</title>
				<link>http://www.cnbc.com/id/33006205?&amp;utm_source=576&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Eliezer Fich, associate professor of finance at LeBow College of Business, wrote an article for CNBC on findings outlined by his research paper co-authored with Jie Cai, an assistant professor of finance at LeBow College, and Anh Tran, entitled &amp;quot;Stock Option Grants to Target CEOs During Private Merger Negotiations.&amp;quot; 
&amp;quot;My co-authors and I were baffled to discover that target CEOs, such as Marvel&amp;acirc;s Perlmutter, are not technically in violation of Sections 10(b) and/or 16(b) of the 1934 Securities Act which penalize insider trading,&amp;quot; Fich writes. &amp;quot;Specifically, these laws state that 'any person purchasing or selling a security while in possession of material, nonpublic information shall be liable in an action in any court of competent jurisdiction&amp;acirc;&amp;brvbar;'.&amp;quot;
]]></description>
				<pubDate>Fri, 25 Sep 2009 16:11:00 -0400</pubDate>
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				<title>CCG Fellow Dr. Jacqueline Garner named EFA President</title>
				<link>http://www.lebow.drexel.edu/Centers/CorpGov/Headlines.php?action=viewHeadlines?storyID=477&amp;utm_source=477&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Drexel University's LeBow College of Business finance professor Jacqueline Garner, Ph.D., has been named President of the Eastern Finance Association.

]]></description>
				<pubDate>Thu, 02 Apr 2009 10:56:00 -0400</pubDate>
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				<title>"Say on Pay" Paper Makes Top 10 SSRN List</title>
				<link>http://www.lebow.drexel.edu/Centers/CorpGov/Headlines.php?action=viewHeadlines?storyID=475&amp;utm_source=475&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[Professors Jie Cai and Ralph A. Walkling&amp;acirc;s paper entitled, &amp;quot;Shareholders' Say on Pay: Does it Create Value?&amp;quot; was recently listed on SSRN's Top Ten download list for CGDET: Compensation of Executives &amp;amp; Directors, CGDET: Shareholder Activism and Corporate Governance: Decisions, Events, &amp;amp; Transactions. As of 03/31/2009 the paper has been downloaded 480 times.]]></description>
				<pubDate>Wed, 01 Apr 2009 14:23:00 -0400</pubDate>
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				<title>Dr. Walkling quoted in Philadelphia Business Journal</title>
				<link>http://philadelphia.bizjournals.com/philadelphia/stories/2009/03/30/story3.html?&amp;utm_source=474&amp;utm_medium=rss&amp;utm_campaign=CorpGov</link>
				<description><![CDATA[In an article entitled &amp;quot;Bonuses for Top Universal Health Services Executives Top $5 Million,&amp;quot; Ralph Walkling, Ph.D., Stratakis Chair in Corporate Governance and Accountability at Drexel University's LeBow College of Business and Executive Director of the College's Center for Corporate Governance, said he does not believe bonuses should be eliminated altogether.]]></description>
				<pubDate>Wed, 01 Apr 2009 14:16:00 -0400</pubDate>
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