Faculty Directory

“Brokerage House IPOs and Analyst Forecast Quality.” (With Michael Drake, Joseph Pacelli and Brady Twedt.) Management Science, forthcoming. 

“Analyst Dividend Forecasts and Their Usefulness to Investors: International Evidence.” (With Bilinski, Pawel.) The Accounting Review, 97 (4), 75-104. July, 2022. 

“Soft Information in the Financial Press and Analyst Revisions.” (With Brandon Locke, Sue Wang and Dexin Zhou.) The Accounting Review, 96 (5), 107-132. September, 2021. 

“The Effects of Analyst-Country Institutions on Biased Research: Evidence from Target Prices.” (With Alan Huang, and Hongping Tan). Journal of Accounting Research, 57 (1), 85-120. March, 2019. 

“Agency Costs and Tax Planning when the Government is a Major Shareholder.” (With Guanmin Liao and Mark Ma.) Journal of Accounting & Economics, 67 (2-3), 255-277. April-May, 2019. 

“Analysts’ GAAP Earnings Forecasts and their Implications for Accounting Research.” (With Theodore E. Christensen, Kurt H. Gee, and Benjamin C. Whipple.) Journal of Accounting & Economics, 66 (1), 46-66. August, 2018. 

“Financial Analysts and Their Contribution to Well-Functioning Capital Markets.” (With Yonca Ertimur, and Patricia O’Brien.) Foundations and Trends in Accounting, 11 (3), 119-191. March, 2018. 

“The Interactive Role of Difficulty and Incentives in Explaining the Annual Earnings Forecast Walkdown.” (With Lian Fen Lee and Kyle Peterson.) The Accounting Review, 91 (4), 995-1021. July, 2016

“Do Sell-Side Analysts Exhibit Differential Target Price Forecasting Ability?” (With Larry Brown and Kelly Huang.) Review of Accounting Studies, 18 (4), 930-955. December, 2013. 

“A Re-examination of Analysts’ Superiority over Time-Series Forecasts.” (With Michael Drake, James Myers, and Linda Myers.) Review of Accounting Studies, 17 (4), 944-968. December, 2012. 

“Analyst Information Processing, Financial Regulation, and Academic Research.”  The Accounting Review, 84 (4), 1073-1083. July, 2009. 

“Will Harmonizing Accounting Standards Really Harmonize Accounting? Evidence from Non-U.S. Firms Adopting US GAAP.” (With Gregory Miller.) Journal of Accounting, Auditing, and Finance, 23 (2), 233-263. April, 2008.

“The Relation Between Corporate Financing Activities, Analysts’ Forecasts and Stock Returns.” (With Scott Richardson and Richard Sloan.) Journal of Accounting and Economics, 42 (1-2), 53-86. October, 2006.

“Accounting Choice, Home Bias, and US Investment in Non-US Firms.” (With Brian Bushee and Gregory Miller.) Journal of Accounting Research, 42 (5), 795-841. December, 2004.

“How Do Analysts Use Their Earnings Forecasts in Generating Stock Recommendations?”  The Accounting Review, 79 (1), 25-50. January, 2004.

“GAAP versus The Street: An Empirical Assessment of Two Alternative Definitions of Earnings.”  (With Richard Sloan.) Journal of Accounting Research, 40 (1), 41-66. March, 2002.

“The Use of Target Prices to Justify Sell-Side Analysts’ Stock Recommendations.”  Accounting Horizons, 16 (1), 27-41. March, 2002.

“Do Analysts and Auditors Use Information in Accruals?” (With Scott Richardson and Richard Sloan.) Journal of Accounting Research, 39 (1), 45-74. June, 2001.

Discussions and Other Articles

“Accounting Standard Setting for Private Companies.” (With Daniel Bens (principal co-author), Carol Ann Frost (principal co-author), Ray Pfeiffer (principal co-author), Marlene Plumlee (principal co-author), Franco Wong (principal co-author), and FARS Financial Reporting Policy Committee.) Accounting Horizons, 28 (1). March, 2014. 

“A Discussion of ‘Analysts’ Industry Expertise.”  Journal of Accounting & Economics, 54 (2-23), 121-131. October-December, 2012. 

“A Discussion of ‘Do managers use earnings guidance to influence street earnings exclusions?’” Review of Accounting Studies, 16 (3),528-538. April, 2011. 

“The Financial Reporting Policy Committee’s Response to the Preliminary Views on Financial Statement Presentation.” (With Sarah McVay (principal co-author) and FARS Financial Reporting Policy Committee.) Accounting Horizons, 24 (2): 249-296. June, 2010. 

“Response to the FASB’s Preliminary Views on Financial Instruments with the Characteristics of Equity.” (With Patrick E. Hopkins (principal co-author), Leslie Hodder (principal co-author), and FARS Financial Reporting Policy Committee.) Accounting Horizons, 23 (1), 85-100. March, 2009. 

“A Discussion of ‘Letting the Tail Wag the Dog: The Debate over GAAP versus Street Earnings Revisited.’” (With Mark Soliman.) Contemporary Accounting Research, 24 (3), 725-739. 2007. 

“Response to the FASB Exposure Draft, ‘Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans: An Amendment of FASB Statements No. 87, 88, 106, and 132(R).’” (With Paquita Davis-Friday (principal co-author), Elizabeth Gordon (principal co-author), and FASC Committee.) Accounting Horizons, 21(2),  201-213. June, 2007. 

“Playing Favorites: Financing Opportunities Sway Analysts’ Thinking.”  (With Scott A. Richardson and Richard G. Sloan.) Investor Relations Quarterly, 6 (2), 33-48. June, 2004. 

“A Discussion of ‘Assessing the Relative Informativeness and Permanence of Pro Forma Earnings and GAAP Operating Earnings.’” Journal of Accounting and Economics, 36 (1-3), 321-336. December, 2003. 

“Pro Forma Earnings Fill a Reporting Vacuum.” (With Richard G. Sloan.) Investor Relations Quarterly, 4 (4), 58-70. March, 2002. Reprinted in AFP Exchange, 20-27. July/August 2002.

Books

Financial Reporting, Financial Statement Analysis, and Valuation: A Strategic Perspective. (With James Wahlen, Stephen Baginski.) South-Western Cengage Learning, 10th Edition 2022; 9th Edition 2017; 8th Edition: 2014; 7th Edition 2009. 

Solutions Manual, Financial Reporting, Financial Statement Analysis, and Valuation: A Strategic Perspective. (With James Wahlen, Stephen Baginski.) South-Western Cengage Learning, 10th Edition 2022; 9th Edition 2017; 8th Edition: 2014; 7th Edition 2009.

“Accounting and Risk Management” (With Bjorn Jorgensen.) In H. Kent Baker and Greg Filbeck (eds.) Investment Risk Management,  Oxford University Press. 2015.