Yaniv Konchitchki Lion, U.C. Berkeley (at Berkeley since July 2011)

Schwabacher Fellow, Hellman Fellow, and Bakar Faculty Fellow for Distinguished Excellence in Research
Assistant Professor of Accounting

University of California, Berkeley
Haas School of Business
545 Student Services Building
Berkeley, CA 94720, USA
Phone: 510-643-1409
       Email: yaniv@haas dot berkeley dot edu          CV
          Personal          In Memory


EDUCATION

Stanford University: PhD in Business Administration (Accounting).  Dissertation Committee Chair: Mary Barth. Dissertation topic on Macro-Accounting (inflation)

Stanford University: MSc in Statistics.

Tel Aviv University: BA in Accounting and Economics (Macroeconomics), MA (Macroeconomics), Completed all courses for a PhD in Economics (focusing on Macroeconomics).

Certified Public Accountant



RESEARCH SUMMARY

My expertise is in interdisciplinary capital markets research, focusing on the usefulness of accounting information through its links to Macroeconomics (e.g., inflation; GDP) and Valuation (e.g., cost of capital; risk; earnings information; financial statement analysis; asset pricing).


Beginning in the mid-1960s and spanning five decades, there has been an explosion of research in accounting, finance, and economics adopting an informational perspective to accounting numbers—e.g., how firm-level accounting information is related to firm-level stock returns or firm-level bankruptcy predictions. This explosion was termed The Accounting Revolution (e.g., Beaver, “Financial Reporting: An Accounting Revolution,” 1997).


To date, however, little is known about the relationship between accounting and the macroeconomy, leaving many open questions with the potential to advance the accounting field.


My research sheds light on a few of these open questions in Macro-Accounting and on capital markets in general. Overall, it serves as a starting point for new works on the informational role of the links between financial reporting, valuation, and the macroeconomy.


In particular, I help develop a relatively new interdisciplinary area in the Macro-Accounting link, an overwhelmingly-ignored link since the formation of accounting research. Drawing on extensive academic and professional experience in financial accounting and macroeconomics, my research provides a comprehensive analysis of both Macro-Accounting directions:


- the macro-to-micro direction (e.g., how overall price-level changes in the economy inform accounting results of individual corporations);

- the micro-to-macro direction (e.g., how earnings of individual corporations inform overall macroeconomic activity).


I have published my work in top-tier academic and practitioner journals, and consistently received prestigious awards for research and teaching excellence, international (2014's World’s Top 40 Under 40), from the accounting profession (American Accounting Association’s 2014 Best Paper Award), across Berkeley (e.g., Hellman—a most promising assistant professor), and within Haas (e.g., Schwabacher, Bakar, Cheit, Club Six—for research and core MBA teaching excellence).

 

My research is of interest to a wide array of accounting information users, including researchers and practitioners, the U.S. Federal Reserve System (e.g., Fed's Chair), U.S. government (e.g., President's Council of Economic Advisers), regulators (e.g., Securities and Exchange Commission), creditors (e.g., commercial banks), households, investors, analysts, hedge and pension funds, and corporate managers.

 

I was invited to present my work at conferences, universities, and other institutions (such as hedge funds, pension funds, CFA (Charted Financial Analyst) Institute, and the U.S. Federal Reserve System—thanks to the applicability of my research to real-life problems). Before receiving a PhD from Stanford University, I was a CPA and Senior Financial Consultant at PricewaterhouseCoopers, as well as a Senior Investment Expert at the Securities Authority.



BREAKING NEWS!

2014-2015:

- World's Top 40 Under 40.  Featured at: Poets&Quants  Berkeley Haas   Fortune Magazine


- Financial Analysts Journal Featured Invited Author Interview   Listen   Read   Paper


- Schwabacher Fellow. "The Executive Committee voted this honor on the basis of 'outstanding research, exceptional departmental service, unusual scholarly growth, or some combination thereof.'" Berkeley Haas. 2014-2015   More


- Bakar Faculty Fellow. "A most positive signal for the years to come, the fellowship honors Haas faculty members with a record of accomplishments and a very bright future." Berkeley Haas. 2014-2015


- Hellman Fellows Fund Award for Research Excellence. Selected across U.C. Berkeley as a “Most Promising Assistant Professor” for a large research award. 2013-2014


- Earl F. Cheit Award for Outstanding Teaching in Core MBA. “Highest teaching award bestowed annually upon instructors at Berkeley Haas.” 2013-2014


- Club Six Member, for Teaching Excellence of Core MBA students, Berkeley Haas. Each year from 2011 to 2015 (among Top-4 Highest Instructor Effectiveness Teaching Evaluations Across All instructors at Berkeley Haas)


- American Accounting Association's 2014 Best Paper Award for my 2013 JAE paper (with Barth and Landsman). Recognized at the 2014 American Accounting Association Annual Meeting, Financial Accounting and Reporting Section. "The Best Paper Award is intended to enhance interaction among academic and practicing members and provide an incentive for researchers to focus their efforts on topics relevant to the practicing profession and standard-setters. The award...judged to best reflect the tradition of academic scholarship and be of relevance to problems facing the accounting profession and standard-setters."   More   More   More




- June 2014-February 2015: My JAE 2014 paper "Accounting Earnings and Gross Domestic Product" (with Patatoukas) is #1 in Journal of Accounting and Economics Most Downloaded Articles and #2 in Most Popular Articles Among All Elsevier's Accounting Journals


- 2013- July 2014: Five papers accepted for publication in top journals (The Accounting Review, Journal of Accounting and Economics, Financial Analysts Journal, Decision Support Systems, Journal of Accounting and Economics), and one accounting research book is published



PUBLISHED PAPERS

Download:  “Taking the Pulse of the Real Economy Using Financial Statement Analysis: Implications for Macro Forecasting and Stock Valuation.” 2014. The Accounting Review, forthcoming. (DOI: http://dx.doi.org/10.2308/accr-50632). With Patatoukas.



Download:  “Cost of Capital and Earnings Transparency.” 2013. Journal of Accounting and Economics 55 (2-3), 206224. (DOI: http://dx.doi.org/10.1016/j.jacceco.2013.01.004). With Barth and Landsman.


 

Download:  “Accounting and the Macroeconomy: The Case of Aggregate Price-Level Effects on Individual Stocks.” 2013. Financial Analysts Journal 69 (6), 4054. (DOI: http://dx.doi.org/10.2469/faj.v69.n6.3). Solo-authored. Online Appendix.


 

Download:  “Accounting Earnings and Gross Domestic Product.” 2014. Journal of Accounting and Economics, 57 (1-2), 7688. (DOI: http://dx.doi.org/10.1016/j.jacceco.2013.10.001). With Patatoukas.


 

Download:  “Capital Markets Valuation and Accounting Performance of Most Admired Knowledge Enterprise (MAKE) Award Winners.” 2013. Decision Support Systems 56 (1), 348–360. (DOI: http://dx.doi.org/10.1016/j.dss.2013.07.001). With DeFond, McMullin, and O'Leary.


- A top-tier journal in Operations and Systems, with an Impact Factor of 2.201/3.037 (1-Year/5-Year), comparable to other top accounting journals (e.g., Journal of Accounting Research, 2.192, officially reported for 2012 on the journal website)



Download:  “Event Study Methodologies in Information Systems Research.” 2011. International Journal of Accounting Information Systems 12 (2), 99–115. (DOI: http://dx.doi.org/10.1016/j.accinf.2011.01.002). With O’Leary.



Download:  “Inflation and Nominal Financial Reporting: Implications for Performance and Stock Prices.” 2011. The Accounting Review 86 (3), 1045–1085. (DOI: http://dx.doi.org/10.2308/accr.00000044). Solo-authored.


- Download:  "An Extended Inflation Adjustment Algorithm. Online Supplementary Material." For Konchitchki, 2011. The Accounting Review 86 (3), 1045–1085. (DOI: http://dx.doi.org/10.2308/accr.00000044). Solo-authored.




PHD THESIS

Download:  “Inflation and Nominal Financial Reporting.” 2007. Stanford University, Graduate School of Business, Dissertation, 93 pages. (Stanford University Libraries: HF5006.S7 K655). Solo-authored.




PUBLISHED BOOKS

Download cover:  “Accounting Research: Notes and Perspectives.” 2012. University of Southern California Figueroa Press. (ISBN: 1932800514). Solo-authored. Buy



Download cover:  “Accounting in Business.” 2011. Tel Aviv University Press. Reprinted Editions: 2002-2011. (ISBN:965306018x). With Aranya and Yampuler.




WORKING PAPERS

“Revisions to Official Macroeconomic Announcements and Firm-Level Financial Information. 2015. With Patatoukas.


“The Consequences of Untimely Quarterly and Annual Financial Reporting.” 2015. With Bartov and DeFond.


Accounting Quality at the Macro Level. 2015. With Patatoukas.
























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