Professor of Accounting
Research interests
-
Impact of accounting information on capital markets
-
Role of financial intermediaries in capital markets
-
Empirical asset pricing and portfolio allocation
-
Corporate governance/finance
Publications
-
"Social Capital, Trust and Firm Perfomance: The Value of Corporate Social Responsability during the Financial Crisis", with Karl Lins and Henri Servaes, Journal of Finance, forthcoming 2017"
-
Have Rating Agencies Become More Conservative? Implications for Capital Structure and Debt Pricing", with Ramin Baghai and Henri Servaes, Journal of Finance, 2014, vol. 69(5), 1961-2005.
-
"How Do Industry Peers Respond to Control Threats?", with Henri Servaes, Management Science, 2014, vol. 60(2), 380-399.
-
"Targets' Earnings Quality and Bidders' Takeover Decisions", with Kartik Raman and Lakshmanan Shivakumar, Review of Accounting Studies, 2013, vol.18 (4), 1050-1087.
-
"The Impact of Corporate Social Responsibility on the Value of the Firm: The Role of Customer Awareness", with Henri Servaes, Management Science, 2013, vol.59(5), 1045-1061.
-
"Equity Analysts and the Market’s Assessment of Risk", with Daphne Lui and Stanimir Markov, Journal of Accounting Research, 2012, vol. 50, 1287-1317.
-
"Payout Yield, Risk, and Mispricing: A Bayesian Analysis", with Jay Shanken, Journal of Financial Economics, 2012, vol. 105, 131-152.
-
"Does Fair Value Reporting Affect Risk Management? International Survey Evidence", with Karl Lins and Henri Servaes, Financial Management, 2011, vol.40(3), 525-551.
-
" The Theory and Practice of Corporate Risk Management", with Henri Servaes and Peter Tufano, Journal of Applied Corporate Finance, 2009, vol. 21, 60-78.
-
"What Makes a Stock Risky? Evidence from Sell-Side Analysts' Risk Assessments", with Daphne Lui and Stanimir Markov, Journal of Accounting Research, 2007, vol. 45, 629-665.
-
"Predictability in Financial Analyst Forecast Errors: Learning or Irrationality?", with Stanimir Markov, Journal of Accounting Research, 2006, vol. 44, 725-761.
Appointments, awards and honours
Editorial Board memberships
-
European Accounting Review (Associate Editor)
-
Journal of Business Finance and Accounting (Associate Editor)
Selected awards
-
2016 Standard Life Investments Prize for Best Paper in the Finance Working Paper Series of the European Corporate Governance Institute
-
Blackrock Prize for the best Capital Markets/Fund Management/Mutual Funds paper at the 2015 Australasian Banking and Finance Conference
-
Inquire Europe Award
-
Inquire UK Award
-
John Olin Foundation Fellowship, University of Rochester
-
William E. Simon School Fellowship, University of Rochester
-
Basque Country Government Science and Research Fellowship, Spain
Teaching