printer friendly pageACCT 610: Seminar in Accounting Research
MARKET EFFICIENCY AND INFORMATIONAL ARBITRAGE: This doctoral-level course covers recent research on the role of informational arbitrage in asset pricing. The organizing theme is the informational efficiency of markets. Since the mid-1960s, the dominant academic view is that security prices are almost entirely rational or efficiently set. In recent years, this view has been challenged along several dimensions. We review this evidence and reflect on its implications for future research.nnnThe course is interdisciplinary in nature. Most of the readings in the first half derive from finance and economics (market efficiency, limits to arbitrage, and behavioral finance); most of the readings in the second half derive from the accounting literature (equity valuation, earnings management, and analyst behavior). Our overall goal is not only to review existing research, but also to stimulate new work in this area.
Terms: Spr
| Units: 4
Instructors:
Lee, C. (PI)
ACCT 611: Applications of Information Economics in Management and Accounting
This course examines a range of modeling paradigms that are becoming increasingly accepted in management and accounting. Common to these models is that they employ methods from information economics including screening, incomplete contracting, signaling and voluntary disclosure. The methodological tools reviewed in this course are then applied to a variety of topics including capital budgeting, internal pricing, supplier relations, financial reporting, earnings management and financial analysts.
Terms: Aut
| Units: 4
Instructors:
Guttman, I. (PI)
;
Reichelstein, S. (SI)
ACCT 612: Accounting Seminar
The purpose of this PhD seminar is to facilitate your conception and execution of substantive individual research in financial reporting. It provides a vehicle for supplementing and integrating your knowledge of basic research tools and methods, as well as an exposure to the dimensions of contemporary research in the field of accounting. The focus of the research we will discuss in this seminar is on global financial reporting. Such research encompasses studies dealing with contemporary financial reporting issues as well as research addressing issues relating to the globalization of financial reporting. Because these issues are also of concern to financial reporting standard setters, we will discuss whether and how the research we study informs standard setting debates. Prerequisite: Consent of the instructor.
Terms: Win
| Units: 4
Instructors:
Barth, M. (PI)
ACCT 617: Managerial Incentives and Corporate Governance: Concepts and Empirical Methodology
The course will consist of three set of topics. The first part of the class will examine a set of applied econometric topics that are useful in empirical accounting research. Each of these topics will be illustrated using contemporary examples from accounting, economics, and finance. The second part of the class will cover some of the basic theoretical work in moral hazard agency models and various extensions to this type of research. The final part of the course will discuss the empirical literature on corporate governance and executive compensation. The course will be taught in a seminar style and students will be required to develop a series of research projects on the topics covered in the class.
Terms: Win
| Units: 4
Instructors:
Larcker, D. (PI)
;
Reichelstein, S. (SI)
ACCT 691: PhD Directed Reading (FINANCE 691, GSBGEN 691, HRMGT 691, MGTECON 691, MKTG 691, OB 691, OIT 691, POLECON 691, STRAMGT 691)
This course is offered for students requiring specialized training in an area not covered by existing courses. To register, a student must obtain permission from the faculty member who is willing to supervise the reading.
Terms: Aut, Win, Spr, Sum
| Units: 1-15
| Repeatable
for credit
ACCT 692: PhD Dissertation Research (FINANCE 692, GSBGEN 692, HRMGT 692, MGTECON 692, MKTG 692, OB 692, OIT 692, POLECON 692, STRAMGT 692)
This course is elected as soon as a student is ready to begin research for the dissertation, usually shortly after admission to candidacy. To register, a student must obtain permission from the faculty member who is willing to supervise the research.
Terms: Aut, Win, Spr, Sum
| Units: 1-15
| Repeatable
for credit
ACCT 802: TGR Dissertation (FINANCE 802, GSBGEN 802, HRMGT 802, MGTECON 802, MKTG 802, OB 802, OIT 802, POLECON 802, STRAMGT 802)
Terms: Aut, Win, Spr, Sum
| Units: 0
| Repeatable
for credit
ACCT 201: Accounting Information
This course gives you perspective on key accounting concepts and role of accounting in markets and firms. You will learn the structure of financial statements, including balance sheets and income statements, and the accrual basis of accounting. In addition, you will cover the role of accounting numbers in providing information to investors and managers. Finally, you will assess the value created by a business or business segment, and the distinction between economic and accounting profitability.
ACCT 516: Valuation in Emerging Economies
The course is designed to introduce students to the corporate governance and transparency issues faced by managers and investors in emerging economies, and the impact these problems have on firm valuation and capital market behavior. The goal of the class is to develop a framework for forecasting future earnings, cash flows and dividends and estimating firm values in these countries. The first half of the course will discuss the impact that weak legal, political and regulatory institutions have on financial reporting practices, corporate governance and capital market behavior, and develop an understanding of the incentives and institutional arrangements that exacerbate or mitigate these effects. The second half of the course will address the following question: how does an investor value an investment opportunity in an economy with weak institutions, such as poor corporate transparency, minimal protection of investor rights, a self-serving government and/or legal systems that fail to enforce contracts? The course will focus on understanding the risks, uncertainties and limitations investors face in each of these settings, and outlining the type of adjustments that should be made to firm valuations and underlying earnings, cash flow and dividend forecasts. Evidence from recent research on these topics will be presented and discussed throughout the course, with special emphasis placed on China. The capstone to the class will be a final project. The final project will focus on the analysis of a specific emerging economy's capital market and institutional environment, conducted in the context of determining the investment potential (as a minority shareholder) of a publicly-traded firm in that market. This course will be of value to those students who expect to make investment-related decisions in emerging or developing economies (such as China, India and Russia, among others). The course is designed to benefit both senior corporate managers and investment professionals.
ACCT 532: Financial and Control Issues in Mergers and Acquisitions
This course will focus on a variety of financial issues related to mergers and acquisitions. In particular, we will cover some of the financial statement implications of corporate control changes (e.g., consolidations, in-process-R&D, etc.), the effects of income taxes (e.g., taxable and non-taxable mergers), and other financial considerations. We will also examine some of the corporate governance issues associated with firms' decisions to acquire or be acquired, with particular emphasis on managerial incentives.nnnIn covering these issues, we would discuss not only specific M&A transactions (e.g., the merger of AOL and Time Warner, Oracle's acquisition of PeopleSoft) but also review some of the academic accounting and finance literature to gain a more general perspective for some of the key takeaways. Class time would comprise some mini lectures to introduce some of the technical issues, case discussions, and perhaps a couple of guest speakers who could offer additional perspectives on the subject matter.
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