"The use and Misuse of corporate stock options"
October 12, 2007 Public Symposium
Professor George G. Kaufman led this public symposium to discuss the use and misuse of corporate stock options. The symposium featured an informative and engaging panel of speakers including a keynote address by Professor Randall Heron from the Kelley School of Business at Indiana University. Professor Heron has authored many articles on recent stock option back-dating practices.
Pictured (from left) are George G Kaufman, Randall Heron, John R. Boatright, Don Delves, Robert Kolb, and Scott Riser
Randall Heron, Associate Professor of Finance, Kelley School of Business Indiana University
Professor Heron has extensive research expertise in the areas of corporate governance, restructurings, mergers and acquisitions, and takeover defenses. His research co-authored with Erik Lie was instrumental in uncovering the backdating of executive stock option grants. As a result, Professor Heron was recognized as one of the top five newsmakers of 2006 by Workforce Management and one of the academic influencers of 2007 by Business Finance Magazine. He has consulted for hedge funds, in corporate fraud cases, and in business valuation and rate setting situations. His research appears in top journals, such as Financial Analysts Journal, Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Journal of Business, Journal of Corporate Finance, Journal of Banking and Finance, and the Strategic Management Journal. Professor Heron received the 2004 Research Excellence Award for an Associate Professor at the Kelley School of Business. He has also received numerous awards for teaching excellence at both the graduate and undergraduate levels. He received his Ph.D. in finance from the Krannert Graduate School of Management at Purdue University in 1995.
John R. Boatright, Raymond C. Baumhart, S.J. Professor of Business Ethics, Graduate School of Business, Loyola University Chicago Professor Boatright has served five years as the Executive Director of the Society for Business Ethics and is a past president of the society. He is the author of the books Ethics and the Conduct of Business and Ethics in Finance. Boatright has published widely in academic journals and has lectured widely to academic and practitioner audiences. He received his Ph.D. in philosophy from the University of Chicago. Don Delves, President and Founder, The Delves Group Before founding The Delves Group, a corporate compensation and governance firm, Delves was a managing director of iQuantic and a consultant with Towers Perrin, Sibson and Co., and Arthur Anderson. Delves is a CPA, is past president of the Chicago Compensation Association, has testified before the U.S. Senate, lectured at Northwestern University and the University of Chicago, and authored a book on stock options. He received his BA from DePauw University and MBA from the University of Chicago. Robert Kolb, Professor of Finance, Frank W. Considine Chair of Applied Ethics, Loyola University Chicago After earning two Ph.D.s from the University of North Carolina at Chapel Hill, (Philosophy 1974 and Finance 1978), Professor Kolb served as a professor of finance at the University of Florida, Emory University, the University of Miami, and the University of Colorado. During this time, he published more than 50 academic research articles and more than 20 books, most focusing on financial derivatives and their applications to risk management. In 1990, he founded Kolb Publishing Company to publish finance and economics university texts. In 1995 he sold the firm to Blackwell Publishers. While at the University of Miami, Kolb served as the chairman of the finance department and was the John S. and James L Knight Professor of Finance. From 2003-2006, Kolb served at the University of Colorado in Boulder as a Professor of Finance and as Assistant Dean for Business and Society, where he led the school’s program in business ethics. Scott Riser, Partner and Regional SEC Practice Leader, Virchow Krause & Co. Mr. Riser is a partner at Virchow, Krause & Co., a major accounting and consulting firm, affiliated with Baker Tilly International, which has the eighth largest global network of independent accounting and consulting firms. His primary practice areas are audit, accounting, financial modeling, and budgeting. Riser is a CPA and is active in the American Institute of Certified Public Accountants. He received his BA in business administration from Iowa State University and has taken financial logistics courses at Georgia Tech.
Pictured (from left) are Don Delves, John R. Boatright, Robert Kolb, Scott Riser, Randall Heron, and George G. Kaufman
SPONSORS
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School of Business Administration
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Center for Financial and Policy Studies
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Center for Integrated Risk Management and Corporate Governance
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Investment Banking and Financial Markets Club