VC143 When Might Monetary Compensation Be Insufficient to Realise the Principle of Equivalence

Bradford Cornell is a Professor of Financial Economics at the Anderson Graduate School of Management, University of California, Los Angeles. He has also taught at Caltech and USC; Professor Cornell received his Master’s degree in Statistics and his PhD in Financial Economics from Stanford University. In his academic capacity, Professor Cornell has published more than 150 articles on a wide variety of topics in applied finance, particularly empirical analysis of asset pricing models. He is also the author of Corporate Valuation: Tools for Effective Appraisal and Decision Making, published by Business One Irwin, and The Equity Risk Premium and the Long-Run Future of the Stock Market and The Conceptual Foundations of Investing, published by John Wiley. He is a past Director and Vice-President of the Western Finance Association and a past Director of the American Finance Association. As a consultant, Professor Cornell has provided expert witness testimony and valuation analysis in some of the largest and most widely publicized finance related cases in the United States. Among his clients are: AT&T, Berkshire Hathaway, Bristol-Myers, Citigroup, Credit Suisse, General Motors, Goldman Sachs, Merck, Microsoft, Morgan Stanley, Orange County CA, Price Waterhouse, Verizon, Walt Disney and various agencies of the United States Government.