Regulating Executive Compensation: Ought There to be a Law?

Tue, 09/29/2009
4:30 PM, Dodds Auditorium, Woodrow Wilson School
Event Category: 
Panel Discussion
To watch this panel, click here

Please join us for a panel discussion titled, "Regulating Executive Compensation: Ought There to be a Law?" at 4:30 p.m. on Tuesday, September 29, in Dodds Auditorium, Robertson Hall on the Princeton University campus.

Panel Participants will include Rakesh Khurana, the Marvin Bower Professor of Leadership Development at Harvard Business School; Ari Gabinet, Principal, Securities Regulation, for The Vanguard Group, Inc.; and Robert L. Jackson, Jr., Assistant General Counsel at the Department of the Treasury.  Viviana Zelizer, the Lloyd Cotsen '50 Professor of Sociology at Princeton University will moderate the panel.

Khurana teaches a doctoral seminar on Management and Markets and The Board of Directors and Corporate Governance in the Harvard's MBA program. Khurana's research uses a sociological perspective to focus on the processes by which elites and leaders are selected and developed. He has written extensively about the CEO labor market with a particular interest on the factors that lead to vacancies in the CEO position; the factors that affect the choice of successor; the role of market intermediaries such as executive search firms in CEO search; and the consequences of CEO succession and selection decisions for subsequent firm performance and strategic choices. His most recent book, From Higher Aims to Hired Hands: The Social Transformation of American Business Schools and the Unfulfilled Promise of Management as a Profession, chronicles the evolution of management as a profession, with particular focus on the institutional development of the MBA. The  book received the American Sociological Association's Max Weber Book Award in 2008 for most outstanding contribution to scholarship in the past two years. In 2007, the book was also the Winner of the 2007 Best Professional/Scholarly Publishing Book in Business, Finance and Management, Association of American Publishers.

Gabinet is is responsible for the Investment Management, Brokerage, Transfer Agent Distribution and Advice, Tax and International, and Litigation, Shareholder Services and Data Privacy functions in Vanguard’s legal department.  Prior to joining Vanguard, Gabinet was the head of the Securities and Exchange Commission’s Philadelphia office, responsible for the Commission’s examination and enforcement programs in Pennsylvania, Delaware, Maryland, Virginia, West Virginia and the District of Columbia.  His  tenure at the SEC was marked by a number of high profile cases in the financial services area, including revenue sharing, directed brokerage, breakpoint discounts, market timing, late trading and IPO allocation, as well as cases involving broker-dealer regulation, accounting and offering frauds, Ponzi schemes, insider trading and electronic theft of nonpublic information. 

Jackson is an Attorney-Advisor in the Office of the Assistant General Counsel at the United States Department of the Treasury, assisting the Treasury on matters related to executive compensation and corporate governance.  Prior to joining the Treasury, Jackson practiced in the Executive Compensation Department at Wachtell, Lipton, Rosen & Katz. Jackson is currently on leave from the faculty of Columbia Law School, where his research projects emphasize the empirical study of corporate governance questions.  His prior work has been the subject of rulemaking commentary before the Securities and Exchange Commission.  His most recent project, which he developed during his tenure as a Research Fellow at the Harvard Law School Program on Corporate Governance, provides the first comprehensive study of executive compensation in firms owned by private equity investors. Jackson has previously worked in investment banking, as an advisor on mergers and acquisitions, and as a consultant to financial institutions. 

Professor Zelizer specializes in historical analysis, economic processes, interpersonal relations, and childhood. She has published books on the development of life insurance, the changing economic and sentimental value of children, and on the place of money in social life. Her most recent book, The Purchase of Intimacy (Princeton University Press, 2005) deals with the interplay of economic activity and personal ties, especially intimate ties, both in everyday practice and in the law. It includes the formation of couples, the provision of personal care, and social relations within households.

This event is cosponsored with the Woodrow Wilson School of Public and  International Affairs, and is free and open to the public.