Tod Perry
Associate Professor of Finance
"The resources available here at Kelley are outstanding and enable me to pursue research ideas I couldn't at some other places. For me, the goal is to study business issues of interest to a broad group whether it be shareholders, the SEC or The Wall Street Journal. I care about bringing a critical thinking approach to topics businesses are dealing with today."
Although Tod Perry's years as a securities and corporate finance attorney didn't provide the satisfaction he desired, the experience has served him well the second time around as a finance professor, first at Arizona State University and today at Kelley Indianapolis.
"In research, I aim to have an impact in corporate finance, primarily as it relates to governance and incentives," says Perry, whose major fields of interest include corporate finance, corporate governance and sports economics. "My background in corporate law provides a unique perspective for analyzing the cross-section of legal and finance issues that often arise at the highest ranks of a corporation."
Perry's primary research falls into the subject areas of executive compensation, incentives and boards of directors. Regarding compensation, his recent work documents changes to the structure of CEO compensation in the 1990s brought about by modifications to the Federal Tax Code and SEC disclosure obligations. He co-authored two published papers examining the influence of board of director characteristics on firm performance or firm value. These papers closely reviewed guidelines or reforms proposed to mandate "good governance" by requiring all firms to comply with a governance standard.
"I tend to look for the unintended consequences of policies and regulations," explains Perry. "In evaluating government regulations and policy recommendations, the question I most often ask is, 'do they really work as intended?'"
In the classroom with Kelley MBA students, Perry strives to make a solid connection between his research and coursework.
"If students can learn everything from a textbook, there's no reason for them to come to class," Perry says. "Adding practical perspective and personal experience to our in-class discussion provides added value to what students learn from the course. Ultimately, it's beneficial for them and certainly more rewarding for me."
