Ralph Walkling in the News

Ralph Walkling in the News

Carlos Ghosn's arrest shows that even visionaries need oversight

via CNN Business

After the arrest of Nissan Chairman Carlos Ghosn over what Nissan called “significant acts of misconduct,” the need for checks and balances was highlighted by Ralph Walkling, Christopher and Mary Stratakis Professor in Corporate Governance and Accountability.

Sneaky CEO? Leader Indiscretions Can Hurt the Bottom Line

via Business News Daily

Research by professor of Corporate Governance and Accountability and founder of the LeBow Center for Corporate Governance Ralph Walkling, PhD and co-author on the impact of bad company leader behavior on the company’s bottom line is covered in Business News Daily. The research is soon to be published in the Journal of Financial Economics

21st Century Fox Anticipates Settlements in Roger Ailes Harassment Probe

via The Wall Street Journal

Founder of LeBow’s Center for Corporate Governance Ralph Walkling is quoted in a story about the continued fallout at Fox News following Roger Ailes’ ouster on charges of sexual misconduct.

Donald Trump made $39 million running failed casino company

via CNN

David Becher, associate professor of finance, and Ralph Walkling, professor of finance and founder of the Center for Corporate Governance, are quoted in a CNN Money article about dealings between Donald Trump and the public casino company he founded.

Danger! American Apparel, Lululemon impale

via CNN

As stock prices tumble at two apparel brands with controversial founders, CNN Money looks to research by LeBow professor Ralph Walkling, PhD to examine what the costs of the two men’s indiscretions truly are.

NW CEOs reap larger rewards, despite 'say on pay' votes

via The Seattle Times

Ralph Walkling, Ph.D., a professor and executive director of the Center for Corporate Governance at LeBow College of Business, was quoted in The Seattle Times on June 23 in a story about a company’s “say on pay” votes.

Despite Resistance, Boards Shift Toward Breaking Up CEO, Chair Roles

via Fox Business

A Fox Business article on the shift toward separating the roles of CEO and chairman quotes Ralph Walkling, PhD, executive director of the Center for Corporate Governance.“It’s sound governance to split the roles,” says Walkling. “I’ve known some CEOs who I thought were pretty darn effective at being chairman of the board. But I still worried about not having the independence and a separate pair of eyes.”

Chesapeake Cuts Pay, Jet Travel For Board

via The Wall Street Journal

Ralph Walkling, Ph.D., executive director for the Center for Corporate Governance, is quoted in a Wall Street Journal article about Chesapeake Energy cutting its board members’ pay.”The question is, will the market think that the board is being responsive, or will they think that the board should have been proactive before these issues were raised,” Walkling says. “It could be a case of too little, too late.”

Big Board Dealt Big Rebuke

via Wall Street Journal

Ralph Walkling, Ph.D., executive director of the Center for Corporate Governance, is quoted in a Wall Street Journal article on NYSE Euronext, which suffered an embarrassing defeat last week when shareholders voted against the re-election of director Ricardo Salgado. Walkling says “low votes for directors are rare.”

In Facebook Deal, Board Was All But Out of Picture

via Wall Street Journal

Ralph Walkling, Ph.D., executive director of LeBow College’s Center for Corporate Governance, is quoted in today’s Wall Street Journal in an article about Facebook Inc.’s purchase of Instagram. Walkling says the board should provide caution to the CEO in such deals, as “they are the last line of defense for minority shareholders.”

When Professional and Personal Lives Collide

via Fox Business

Ralph Walkling, PhD, executive director of LeBow College’s Center for Corporate Governance, is quoted in the Fox Business article about the blurred lines between personal and professional lives in business and the potential for scandal when they meet. Says Walkling: “Certainly shareholders lose when this bad news come out, but there’s also evidence that accounting performance suffers a bit during the time when these alleged indiscretions were going on.”

The Disclosure Debate: When Should Companies Reveal Cyber Attacks

via Fox Business

Ralph Walkling, Ph.D., executive director of LeBow College’s Center for Corporate Governance, was quoted in the Fox Business article “The Disclosure Debate: When Should Companies Reveal Cyber Attacks?”

Walkling says, “You’re not going to want to sacrifice anything like reputation to meet short-term results.”  

IAC Recruits Chelsea Clinton to its Board

via Fox Business

Ralph Walkling, PhD, executive director of LeBow’s Center for Corporate Governance, was quoted in a Fox Business story about Chelsea Clinton’s appointment to the board of directors at IAC.“It is not clear to me that the advising role here is best filled by someone with Chelsea’s talents, nor is it clear that such talents are best placed on the board level,” says Walkling.

A New Target at Yahoo

via The Wall Street Journal

Ralph Walkling, Ph.D., executive director of the Center for Corporate Governance, was quoted in a Wall Street Journal article about the shifting blame for Yahoo’s lack of revenue from Chief Executive Carol Bartzto Chairman Roy Bostock.The Yahoo chairman’s actions, including firing Ms. Bartz, “appear to be too little too late,” Walkling says.

Checkpoint Systems faces activist shareholder’s demands

via Philadelphia Business Journal

Ralph Walkling, Ph.D., executive director of LeBow College’s Center for Corporate Governance, was quoted in a PBJ article about activist shareholder activity within the company Checkpoint Systems.

U.S. Chiefs Set for Big Payoffs Sell More Cheaply, Study Says

via Bloomberg

Research conducted by Drexel LeBow’s Ralph Walkling, executive director of the Center for Corporate Governance; Eliezer Fich, associate professor of finance and a Center fellow; and Anh Tran, who recently earned his Ph.D. at LeBow and is now a professor at the Cass Business School at City University London, has recently been covered by Bloomberg and the New York Times Blog, as well as a number of French publications including ZoneBourse, Le Monde, and NewsBanque.

The researchers found that chief executives with over-generous severance pay arrangements sell out significantly more cheaply when weighing up a takeover bid. Company bosses with so-called golden parachutes that are 10 percent more generous than the average agreed to sell their companies for a 5 percent smaller takeover premium.

A Chance to Veto a CEO's Bonus

via The Wall Street Journal

Research by Ralph Walkling, Ph.D., director of the Center for Corporate Governance at Drexel LeBow, is referenced in the Wall Street Journal article “A Chance to Veto a CEO’s Bonus.” Walkling has found that voting against directors may discourage them from acting like rubber stamps. Each 1 percent increase in “no” votes knocks up to $222,000 off the excess compensation of the chief executive officer the next year—and even raises the odds that the CEO will be replaced, his research suggests.

Given Say on Pay, Shareholders Say No

via SmartMoney.com

Research conducted by Ralph Walkling, executive director of LeBow College’s Center for Corporate Governance, and Jie Cai, assistant professor of finance, was referenced in a SmartMoney.com article titled “Given Say on Pay, Shareholders Say No.”

Companies that overcompensate their executives relative to peers can see a stock-price boost when say on pay proposals are announced, according to research by Cai. Yet, in the past, activist shareholders’ say on pay demands haven’t targeted firms that truly overpay their top brass, Cai says.