Source: Diane 1xbet sports betting , 785-532-4352, 1xbet sports betting @k-state.edu
http://www.k-state.edu/media/mediaguide/bios/swansonbio.html
News release prepared by: Erinn Barcomb-Peterson, 785-532-6415, media@k-state.edu

Thursday, Feb. 5, 2009

K-STATE EXPERT ON BUSINESS ETHICS WHO HAS LONG CALLED FOR GOVERNMENT OVERSIGHT OF EXECUTIVE SALARIES APPLAUDS EFFORTS TO CAP PAY AT FIRMS RECEIVING BAILOUTS

MANHATTAN -- Diane Swanson could easily say, &1xbet sports betting ;I told you so.&1xbet sports betting ;

1xbet sports betting , the chair of the Business Ethics Education Initiative at Kansas State University, has long called for government oversight of executive pay, and now Washington is agreeing. President Barack Obama announced a 0,000 pay cap for some senior executives in businesses that received government bailouts.

&1xbet sports betting ;Back in 2006 I was saying that paying excessive executive salaries is a bad habit that needs to be broken,&1xbet sports betting ; Swanson said. &1xbet sports betting ;I've long said that it is one of those areas where government oversight is desirable because self-regulation by business alone hasn't worked to resolve the issue.&1xbet sports betting ;

1xbet sports betting said that the argument that executive pay is justified by superior performance has long been in doubt. Now, with taxpayer dollars at stake in cases where failed businesses seek to bailed out, she said it is all too clear that bad management is not the only problem.

&1xbet sports betting ;Instead, greed, lack of accountability and failure to grasp the degree of social misery caused by bad decision-making seems apparent,&1xbet sports betting ; Swanson said. &1xbet sports betting ;In short, many richly-rewarded executives are out of touch with their proper role in society.&1xbet sports betting ;

Not that 1xbet sports betting thinks regulation is a cure-all. She said that regulation can have unintended, undesirable consequences that need to be monitored. Still, she said that the recent pay scandals gave government officials little choice but to step in.

&1xbet sports betting ;After all, taxes are not meant for subsidizing bonuses in the private sector,&1xbet sports betting ; she said. &1xbet sports betting ;With the country in economic distress, I can think of much better ways to spend public money; soup kitchens for the homeless come to mind.&1xbet sports betting ;

1xbet sports betting 's research in business ethics includes a study showing a correlation between executives' values and how much they want in pay. Working with Mark Orlitzky, now of Penn State University Altoona, 1xbet sports betting found that executives who downplay ethics in their decision-making are the same ones who state a preference for unusually high salaries.

1xbet sports betting and Orlitzky also found that executives who were short on ethical values and were long on pay preferred salaries that were many times higher than those earned by their lowest-paid employees. 1xbet sports betting said that although pay for the lowest-earning workers decreased between 1960 and 1990, compensation for top managers increased greatly, regardless of the companies' performance records.

But what sent up a red flag for 1xbet sports betting were results showing that these income-rich, values-poor executives also were likely to have had more business education.

&1xbet sports betting ;I saw this as yet more evidence that business education was teaching greed and self-centeredness instead of service to community,&1xbet sports betting ; Swanson said. &1xbet sports betting ;Business students should learn that business people not only serve themselves but society as well. The point is that senior managers need to have some kind of community-mindedness or more harmful effects of corporate scandals will be inflicted on society in the future.&1xbet sports betting ;

That's why 1xbet sports betting has spearheaded a campaign to emphasize the importance of requiring at least one ethics course of all business graduates, a policy that many -- if not most -- business schools still resist strongly.

At K-State, students earning a master's in business administration take a capstone ethics course. K-State also offers an elective in professional ethics, and faculty cover the subject in other business classes.

&1xbet sports betting ;I'm proud to say that K-State's model of ethics education has been recognized internationally,&1xbet sports betting ; Swanson said. &1xbet sports betting ;As educators, we have a duty to society to arm future managers with knowledge of ethics and corporate social responsibility.&1xbet sports betting ;