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Carroll School of Management

Susan Z. Shu

associate professor - accounting department

Susan Shu

Fulton Hall 528A


Ph.D., University of Rochester
M.S., University of Rochester
B.S., University of Dubuque. 


Professor Susan Z. Shu's research interests include security litigation under U.S. securities laws, corporate disclosure policy, initial public offerings, measurement of cost of capital, and economics of auditor-client alignments. Her research has appeared in leading academic journals such as Journal of Accounting and Economics, Journal of Financial Economics, and Journal of Accounting Research. Professor Shu has taught courses in financial accounting at both the undergraduate and graduate levels.


  • The insurance hypothesis: an examination of KPMG’s audit clients (with Billy Soo, Greg Trompeter and Darryl Brown). Forthcoming, Auditing: A Journal of Practice and Theory.
  • Do managers always know better? The relative accuracy of management and analyst forecasts (with Amy Hutton and Lian Fen Lee). Journal of Accounting Research 50 (2012), 1217–1244.
  • Properties of implied cost of capital using analysts’ forecasts (with Wayne Guay and S. P. Kothari). Australian Journal of Management 36 (2011), 125-149. Winner of E. Yetton Prize of Best Paper in 2011.
  • Do managers withhold bad news? (with S. P. Kothari and Peter Wysocki) Journal of Accounting Research 47 (2009), 475-679.
  • Does disclosure deter or trigger litigation (with Michelle Lowry and Laura Field). Journal of Accounting and Economics 39 (2005), 487-507.
  • IPO underpricing and litigation risks (with Michelle Lowry). Journal of Financial Economics 65 (2002), 309-335.
  • Auditor resignations: clientele effects and legal liability. Journal of Accounting and Economics 29 (2000), 173-205.