Specialties

Positions Held

At the University of Washington since 1986
Visiting professor at University of Iowa (1991-92)
Lecturer at Monash University (1981-82)

Selected Publications

• “Does the pricing of financial reporting quality change around dividend changes?” with Shuping Chen and Yen Hee Tong, Journal of Accounting Research, 2006, forthcoming.
  
  
• “Why is the Accrual Anomaly not Arbitraged Away? The Role of Idiosyncratic Risk and Transaction Costs,” with Christine Mushruwala and Shiva Rajgopal, Journal of Accounting and Economics, Vol. 42, 2006, pp. 3-33.
  
  
• “CEO’s Outside Employment Opportunities and the Lack of Relative Performance Evaluation in Compensation Contracts” with Shiva Rajgopal and Tina Zamora, Journal of Finance, Vol. 61, No. 4, August 2006, pp. 1813-1844.
  
  
• “Evidence on the Possible Information Loss of Conforming Book Income and Taxable Income,” with Michelle Hanlon and Stacie Kelley, Journal of Law and Economics, Vol. 48, No. 2, 2005, pp. 407-442.
  
  
• “Are executive stock options associated with future earnings,” with Michelle Hanlon and Shiva Rajgopal, Journal of Accounting and Economics, Vol. 36, 2004, pp. 3-43.
  
  
• “Does the stock market fully appreciate the implications of leading indicators for future earnings? Evidence from order backlog,” with Shiva Rajgopal and Mohan Venkatachalam, Review of Accounting Studies, Vol 8, No. 4, December 2003, pp. 461-492.
  
  
• “Dividend taxes and firm valuation: A re-examination,” with Michelle Hanlon and James Myers, Journal of Accounting and Economics, Vol 35, No. 2, June 2003, pp. 119-153.
  
  
• “Do stock prices fully reflect the implications of special items for future earnings,” with Dave Burgstahler and Jim Jiambalvo, Journal of Accounting Research, Vol. 40, No. 3, June 2002, pp. 585-612.
  
  
• “Empirical evidence on the relation between stock option compensation and risk taking,” with Shiva Rajgopal, Journal of Accounting and Economics, Vol. 33, No. 2, 2002, pp. 145-171.
  
  
• "Commentary: Corporate tax shelters and book-tax differences,” Tax Law Review, New York University School of Law, Vol. 55, No. 3, 2002, pp.427-443.
  
  
• “Accounting for tax benefits of employee stock options and implications for research,” with Michelle Hanlon, Accounting Horizons, Vol. 16, No. 1, March 2002, pp. 1-16.
  
  
• "Empirical tax research in accounting,” with Doug Shackelford, Journal of Accounting and Economics, Vol. 31, No. 1-3, 2001, pp. 321-387.
  
  
• “Reload employee stock option plans: Incentive alignment or rent extraction,” with Thomas Hemmer and Steve Matsunaga, Journal of Accounting, Auditing and Finance, Vol. 15, No. 4, Fall 2000, pp. 393-423.
  
  
• “Research in taxation: A commentary,” Accounting Horizons, Vol. 13, No. 4, December 1999, pp. 427-441.
  
  
• "Optimal Exercise and Value of Reload Options," with T. Hemmer and S.Matsunaga, Journal of Accounting Research, Vol. 36, No.2, Autumn 1998, pp.231-255.
  
  
• "Incremental information content of the change in the percent of production added to inventory," with J. Jiambalvo and E. Noreen, Contemporary Accounting Research, Vol. 14, No. 1, Spring 1997, pp. 69-97.
  
  
• "Managing interactive accounting measures to meet multiple objectives: A study of LIFO firms," with S. Moyer and A. Hunt, Journal of Accounting Economics, Vol. 21, No. 3, May 1996, pp. 339-374.
  
  
• "The influence of risk diversification on early excercise of employee stock options by excecutive officers, " with T. Hemmer and S. Matsunaga, Journal of Accounting and Economics, Vol. 21, No. 1, January 1996, pp. 45-68.
  
  
• "Disqualifying dispositions and incentive stock options: Tax benefits vs. financial reporting costs," with S. Matsunaga and D. Shores, Journal of Accounting Research, Vol. 30 Supplement 1992, pp. 37-68.
  
  
• "The corporate tax comeback in 1987: Some further evidence," with Sue Porter, The Journal of the American Taxation Association, Vol. 14. No. 1. Spring 1992, pp. 58-79.
  
  
• "Determinants of the timing of quarterly earnings announcements," with Robert M. Bowen, Marilyn F. Johnson and D. Shores, Journal of Accounting, Auditing and Finance, Vol. 7, No. 4, Fall 1991, pp. 395-422.
  
  
• "The valuation of R&D firms with R&D limited partnerships," The Accounting Review, Vol. 66, No. 1, January 1991, pp. 1-21.
  
  
• "Estimating corporate marginal tax rates with asymmetric tax treatment of gains and losses," The Journal of the American Taxation Association, Vol. 11, No. 2, Spring 1990, pp. 51-67.
  
  
• "Informational efficiency and the information content of earnings during the market crash of October 1987," with Robert M. Bowen and Marilyn F. Johnson, Journal of Accounting and Economics, Vol. 11, No. 2/3, July 1989, pp. 225-254.
  
  
• "Taxes and off-balance sheet financing: Research and development limited partnerships," The Accounting Review, Vol. 62, No. 3, July 1987, pp. 480-509.
  
  
• "Earnings releases, anomalies and the behavior of security returns," with George Foster and Chris Olsen, The Accounting Review, Vol. 59, No. 4, October 1984, pp. 574-603.
  
  

Current Research

Employee stock options: accounting issues, valuation, early exercise, granting, and incentive effects.
Taxes and their effects on businesses: organizational form, compensation, investment, and

financial decisions.

Capital market value relevance of accounting information

Honors and Awards

Dean's Faculty Research Award (2009)
Ph.D. Outstanding Mentor Award (2007)
Distinguished Visiting Faculty at American Accounting Association (AAA) Doctoral Consortium

(1993, 1997, 1998, 2006)

Ray M. Sommerfeld Outstanding Tax Educator, American Taxation Assocation (2005)
Best Paper Award, Journal of Accounting and Economics Conference (2002)
UW Business School Dean's Research Award (1997, 2005)
American Taxation Association Tax Manuscript Award (1992, 1995, 2004)
AAA Competitive Manuscript Award (1987, 1991)

Academic Service

Senior Editor, The Accounting Review (2002-2005)
Faculty Director, PhD Program, UW Business School (1999-2006)
Editor, Journal of the American Taxation Association (1996-1999)
Editorial board of:
Journal of Accounting and Economics

Journal of Accounting Research

Journal of the American Taxation Association (1990-93),

Journal of Accounting and Public Policy (1990-present),

Contemporary Accounting Research (1993-present),

Advances in Taxation (1993-95), and

Journal of Accounting, Auditing, and Finance (1995-present)