Accounting Research

Publications

1. Dynamic Adjustment of CEO Incentives, Contracting Frictions and Firm Performance, with Zhonglan Dai and Weining Zhang, Forthcoming in The Accounting Review, July 2025 issue.

2. Under the Hood of Activist Fraud Campaigns: Private Information Quality, Disclosure Incentives, and Stock Lending Dynamics, with Byung Hyun Ahn and Panos Patatoukas. The Accounting Review, 2024, 99 (6).  Published version

3. Bank Supervision and Organizational Capital: The Case of Minority Lending, with Byeongchan An, Anya Kleymenova, and Rimmy Tomy.  Journal of Accounting Research Volume 62, Issue 2 May 2024. Published version

4. The Influence of Short Selling on Negative Press Coverage of Firms, with Jedson Pinto, Management Science Volume 70, Issue 3 March 2024. SSRN version

5. Cash-based bonus plans as a strategic communication, coordination and commitment mechanism. Journal of Accounting and Economics, Volume 72, No. 2/3, November/December 2021. Published version.

6. The Influence of Loan Officers on Debt Contract Design and Performance, with Janet Gao, Joseph Pacelli and Xiumin Martin, Journal of Accounting and Economics Vol. 71, No. 1, 2021. Published Version

7. Bank CEO Materialism: Risk Controls, Culture and Tail Risk, with Rob Davidson, Aiyesha Dey and Abbie Smith. Journal of Accounting and Economics 65 (1), February 2018: 191-220. Published version

8. The Informational Role of the Media in Private Lending, with Christopher Williams and Regina Wittenberg-Moerman, Journal of Accounting Research Volume 55, Issue 1, March 2017: 115–152. Published version

9. Bank Competition: Measurement, Decision-Making and Risk-Taking, with Brad Hendricks and Christopher Williams, Journal of Accounting Research Volume 54 Issue 3, June 2016: 777–826. Published version

10. Transparency, Accounting Discretion and Bank Stability, Economic Policy Review, Issue Aug, pp. 129-149, 2016. 

11. The Changing Landscape of Accrual Accounting, with Alina Lerman and Frank Zhang. Journal of Accounting Research Volume 54, Issue 1, March 2016: 41–78. Published version

12. Management Team Incentive Alignment and Firm Performance, with Zhonglan Dai and Weining Zhang. The Accounting Review, January 2016, Vol. 91, No. 1, 21-45. Published version

13. Delayed Expected Loss Recognition and the Risk Profile of Banks, with Chris Williams. Journal of Accounting Research, Volume 53, Issue 3, 511–553, June 2015. Published version

14. Thoughts on financial accounting and the banking industry, Journal of Accounting and Economics, 2014, 58, 384–395. Published version

15. Accounting discretion, loan loss provisioning, and discipline of Banks' risk-taking, with Christopher Williams. Journal of Accounting and Economics 54 (2012).  Published version

16. The Role of Bank Reputation in "Certifying" Future Performance Implications of Borrowers' Accounting Numbers, with Regina Wittenberg-Moerman. Journal of Accounting Research 2012, Volume 50, Issue 4.  Published version

17. Capital Allocation and Timely Accounting Recognition of Economic Losses, with Abbie Smith and Joe Piotroski, Journal of Business, Finance and Accounting, 2011, Vol. 38, Issue 1/2.

18. Price Discovery and Dissemination of Private Information by Loan Syndicate Participants, with Abbie Smith and Regina Wittenberg-Moerman, Journal of Accounting Research Vol. 48 No. 5 December 2010.  Published version.

19. The Pros and Cons of Regulating Corporate Reporting: A Critical Review of the Arguments, with Wayne Landsman.  Accounting and Business Research   Vol. 40 Number 3, 2010 .

20. A Discussion of Creditors' and Shareholders' Reporting Demands in Public versus Private Firms: Evidence from Europe, Contemporary Accounting Research Vol. 27 No. 1 (Spring 2010) pp. 93–99.

21. Risk and CEO Turnover, with Zhonglan Dai  and Xue Wang. Journal of Financial Economics Volume 96, Issue 3, June 2010, Pages 381-398.  Published version

22. Weak" Governance May Be Optimal Governance: Discussion of Corporate Governance and Backdating of Executive Stock Options, Contemporary Accounting Research Vol 26, Summer 2009.

23. The Debt-Contracting Value of Accounting Information and Loan Syndicate Structure,  with Ryan Ball and Florin Vasvari, Journal of Accounting Research Vol. 46 No. 2 May 2008.  Published version

24. An Analysis of the Relation Between the Stewardship and Valuation Roles of Earnings,  with Ellen Engel, and Abbie Smith. Journal of Accounting Research Vol 44 Number 1 March 2006.  Published version

25. Financial reporting incentives for conservative accounting: The influence of legal and political institutions,  with Joe Piotroski.  Journal of Accounting and Economics Vol. 42 (October 2006), pp. 107-48.  Published version

26. Insider Trading Restrictions and Analysts’ Incentives to Follow Firms,  with Joe Piotroski and Abbie Smith. Journal of Finance Volume 60 February 2005.  (Nominated for the 2005 Smith Breeden Prize).  Published version

27. Financial Accounting Information, Organizational Complexity and Corporate Governance Systems, with Qi Chen, Ellen Engel, and Abbie Smith, Journal of Accounting and Economics 37 (2004), 167-201. Published version

28. What Determines Corporate Transparency?  with Joe Piotroski and Abbie Smith. Journal of Accounting Research 2004 , 42 (2). Published version

29. Transparency, Financial Accounting Information and Corporate Governance,  with Abbie Smith. Federal Reserve Bank of New York's Economic Policy Review,  April 2003 Volume 9, Number 1 : 65-87.

30. Financial Accounting Information and Corporate Governance, with Abbie Smith. Journal of Accounting & Economics, Vol. 32, Nos. 1-3, August/October/December 2001. Published version

31. Private Pre-Decision Information, Performance Measure Congruity and the Value of Delegation, with Raffi Indjejikian and Mark Penno, Contemporary Accounting Research , Vol. 17 Winter 2000 pp. 561-587.

32. Earnings Announcements and Market Depth, Robert Bushman, Sunil Dutta, John Hughes and Raffi Indjejikian, Contemporary Accounting Research, Vol. 14 No. 1 (Spring 1997) pp. 43-68.

33. CEO Compensation: The Role of Individual Performance Evaluation, Robert Bushman, Raffi Indjejikian and Abbie Smith.  Journal of Accounting and Economics, Vol. 21 April 1996. Published version.

34. A Model of Two-Tiered Financial Reporting, Robert Bushman, Frank Gigler and Raffi Indjejikian. Journal of Accounting Research, Supplement 1996 pp. 51-74.

35. A Note on Strategic Sampling in Agencies, Robert Bushman and Chandra Kanodia.  Management Science, Vol 43 January 1996 pp. 151-156.

36. Aggregate Performance Measures in Business Unit Manager Compensation: The Role of Intrafirm Interdependencies, Robert Bushman, R. Indjejikian and Abbie Smith. Journal of Accounting Research, Vol. 33 Supplement 1995 pp. 101-128.

37. Voluntary Disclosures and the Trading Behavior of Corporate Insiders, Robert Bushman and Raffi Indjejikian. Journal of Accounting Research, Vol. 33 No. 2, Autumn 1995 pp. 293-316.

38. Stewardship Value of "Distorted" Accounting Disclosures, Robert Bushman and R. Indjejikian. The Accounting Review, October 1993 pp. 765-782.

39. Accounting Income, Stock Price and Managerial Compensation, Robert Bushman and Raffi Indjejikian.   Journal of Accounting and Economics, Jan./Feb./March 1993 pp. 3-23.

40. Public Disclosure and the Structure of Private Information Markets, Robert Bushman  Journal of Accounting Research,  Autumn 1991 pp. 261-276.

41. Escalation Errors and the Sunk Cost Effect: An Explanation Based on Reputation and Information Asymmetries, with Chandra Kanodia and John Dickhaut.  Journal of Accounting Research, 1989 pp. 59-77.

Working papers

• Partisan Banks and Creditor Coordination within Loan Syndicates, with Sang Woo Sohn and Jianxin (Donny) Zhao, April 2024.

• Managerial capital and soft information: implications for performance and CEO turnover, with Salman Arif, John Donovan and Yadav Gopalan. March 2025.

• Banks’ textual disclosures and the identification of systemic herds, with Jason Chen and Chris Williams, (under revision January 2024). Link to earlier draft

• Information from Implied Volatility Comovements and Insider Trades, with Vivek Ravel and Sean Wang, (Under revision, July 2022). 

Research in Progress

• Monitoring Mechanism Portfolio Choices in the Syndicated Loan Market, with Sunjin Park and Donny Zhang.

• The Special Role of Bank Earnings in the Relation between Aggregated Earnings and GDP Growth, With Boaz Noiman and Ryan Ball

Older Working Papers

• Investment Cash Flow Sensitivities Really Reflect Related Investment Decisions, with Abbie Smith and Frank Zhang, May 2012.

• Does secondary loan market trading destroy lenders' incentives?, with Regina Wittenberg-Moerman, November 2009.