Professor Ane  Tamayo

Professor Ane Tamayo

Professor of Accounting

Department of Accounting

+44 (0)20 7849 4689
Room No
OLD 2.20
Office Hours
By appointment, please email
Key Expertise

About me


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 


  • Does Consumer Protection Enhance Disclosure Credibility in Reward Crowdfunding?”, with Stefano Cascino and Maria Correia, Journal of Accounting Research (Forthcoming).
  • “Social Capital, Trust and Firm Performance: How CRS Helped Companies During the Financial Crisis (And Why It Can Keep Helping Them)", with Karl Lins and Henri Servaes, Journal of Applied Corporate Finance 2019, vol. 31(2), 59-71.
  • "Social Capital, Trust and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis", with Karl Lins and Henri Servaes, Journal of Finance, 2017, vol. 72(4), 1785-1824.
  • “The Role of Social Capital in Corporations: A Review”, with Henri Servaes, Oxford Review of Economic Policy, 2017, vol. 33 (2). 201-220.
  • “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