Akash Chattopadhyay

Governance through Shame and Aspiration: Index Creation and Corporate Behavior in Japan with Matthew Shaffer, Charles Wang

Journal of Financial Economics 135, no. 3 (2020): 704-724

Coverage: Wall Street Journal, Financial Times, Harvard Law School Corporate Governance Forum

Examines whether a stock index, marketed as being prestigious, and based on a quantitative rule including return on equity can motivate firms to be more profitable

Expected Stock Returns Worldwide: A Log-Linear Present-Value Approach with Matthew Lyle, Charles Wang

The Accounting Review (forthcoming)

Coverage: Kellog Insight

Comprehensive evaluation of the performance of popular expected return proxies in international markets; adapts the log-linear framework to estimate an ERP which forecasts returns robustly across markets

Managing Activists: Earnings Management during Activism Campaigns

This study examines how firms behave during an activism campaign; whether the pressure of the campaign influences firms to manage short-term earnings 

Governance Transparency and Firm Value: Evidence from Korean Chaebols with Sa-Pyung Shin, Charles Wang

under review

Examines the value and governance effects of ownership transparency in Korean business groups

Connecting Expected Returns to Valuation Multiples with Matthew Lyle, Charles Wang

Provides a general approach, based on the log-linear present-value framework, to connect expected returns to valuation multiples

Machine Learning, Earnings Forecasting, and the Implied Cost of Capital: US and International Evidence with Bingxu Fang, Partha Mohanram

R&R at The Accounting Review

Develops implied cost of capital estimates based on machine-learning-generated earnings forecasts