Faculty Profiles



Maureen McNichols

Marriner S. Eccles Professor of Public and Private Management
Professor of Law (by courtesy), School of Law



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Academic Degrees

PhD, Graduate School of Management, Univ. of California, Los Angeles, 1984; MS, 1976. CPA, 1975 (Illinois); BS, Univ. of Illinois, Urbana-Champaign, 1975.

Professional Experience

At Stanford since 1983.


Selected Publications

Delisting Returns and their Effect on Accounting-Based Market Anomalies: Forthcoming, Journal of Accounting and Economics, 2007 
An Alternative Interpretation for the Discontinuity in Earnings Distributions: forthcoming, Review of Accounting Studies, 2007 
Buys, Holds and Sells: The Distribution of Investment Banks' Stock Ratings and the Implications for the Profitability of Analysts' Recommendations,: Journal of Accounting and Economics, 2006 
Analyst Impartiality and Investment Banking Relationships: Journal of Accounting Research, 2005 
Have Financial Statements Become Less Informative: Evidence From the Ability of Financial Ratios to Predict Bankruptcy: Review of Accounting Studies, 2005 

Working Papers

The Performance of Underwriter Analyst Recommendations: A Second Look 
Does Earnings Management Affect Firms' Investment Decisions? 
Historical Cost and Fair Value Accounting for Real Estate: Evidence from US and UK Real Estate Investment Trusts 
An Empirical Investigation of the True and Fair Override in the United Kingdom 

Selected Cases

A189A: Sunbeam Corporation: Board Member Assessing Earnings Quality (A) 
A189B: Sunbeam Corporation: Board Member Assessing Earnings Quality (B) 
A186A: Costco Wholesale Corporation Financial Statement Analysis (A) 
A186B: Costco Wholesale Corporation Financial Statement Analysis (B) 

Awards and Honors

Marriner S. Eccles Chair, 2001 
Best Paper Award, 2000, Review of Accounting Studies 
Best Paper Award, 1998, Review of Accounting Studies 
Best Paper Award, Financial Reporting Section, 1995, American Accounting Association 
CPA Certificate, 1975, State of Illinois 

Courses Taught

ACCT 354 Analysis and Valuation for Event-Driven Investing 
ACCT 506 Evaluating Earnings Quality 
ACCT 610 Seminar in Empirical Accounting Research 

Centers/Programs

Finance and Accounting for the Nonfinancial Executive
Stanford Directors' Forum Executive Program

Affiliations

Editor: Review of Accounting Studies (1995 - 2008) 
Editorial Board: The Accounting Review 
Director, and member of audit and compensation committees: NetIQ (2003 - 2006) 
Member: Provost's Budget Group (2006 - present) 
Finance Committee: Stanford University Board of Trustees (2004 - 2008) 
Member: Capital Plan Committee (2005 - 2006) 
Member: Stanford Faculty Senate (2004 - 2007) 

Press Releases

04/03 Stanford Business School Offers New Corporate Governance Program for Corporate Directors 
03/01 Business School Announces New Endowed Chairs, Faculty to Fill Them 

In the News

May 24, 2009 Stock Analysis, Then and Now, The New York Times 
11/2004 Contrarian Ratings Were Valuable, Sacramento Bee 
05/2002 How Analysts Operate, Newark Star-Ledger 
07/2001 Wall Steetís Other Analyst Flap, InvestmentNews.com 
06/2001 Analysts Got It Way Wrong in 2000. Study Shows Wall Street Research Suffered Disaster, CBS Market Watch 


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