INTACCT Summer School
University of Macedonia (Thessaloniki)
19th - 27th June 2007
Below you will find more information on this workshop session and comments from our Researchers after the event.
Day 1: Valuation models, John O'Hanlon (Lancaster University)
Ohlson (1995): Earnings, book values, and dividends in equity valuation. Contemporary Accounting Research
Feltham and Ohlson (1995): Valuation and clean surplus accounting for operating and financial activities. Contemporary Accounting Research
O'Hanlon. Note on the residual earnings valuation model and abnormal earnings growth model
ZOLTAN NOVOTNY-FARKAS University of Frankfurt Early Stage Researcher Comments:
"I had hoped to gain a deeper understanding of the research areas that we had learned at the Lancaster Workshop. I learned how to conduct top quality research from distinguished speakers and researchers. Further, I could exchange my first research ideas with faculty and early stage researchers.
I mostly enjoyed the comfortable atmosphere during the presentations and that the speakers took a lot of time in discussion with the young researchers. I participated actively in the research discussions.
Further, I loved the social events (e.g. the dinner at the seaside)!"
Day 2: Governance, accounting choice and earnings management, Andrew Leone (Penn State)
Kothari, Leone and Wasley (2005): Performance matched discretionary accrual measures. Journal of Accounting and Economics
Butler, Leone and Willenborg (2004): An empirical analysis of auditor reporting and its association with abnormal accruals. Journal of Accounting and Economics
Guidry, Leone and Rock (1999): Earnings-based bonus plans and earnings management by business-unit managers. Journal of Accounting and Economics
Day 3: Accounting research and policy formulation, Stephen Penman (Columbia University)
Penman and Yehuda (2007): Pricing of earnings and cash flows and an affirmation of accrual accounting. Working paper
Ohlson and Penman (2005): Debt VS equity: accounting on claims contingent on firms’ common stock performance. White paper 1
Nissim and Penman (2007): The boundaries of fair value accounting. White paper 2
ULF BRUGGEMANN Lancaster University Early Stage Researcher Comments:
"At the Summer School in Thessaloniki INTACCT Researchers were taught the foundations of financial accounting by established
researchers from both within and outside the network.
High quality lectures combined with lively discussions and mild temperatures around 40 degrees made this event a memorable experience for me. I also found it quite encouraging to observe that even the mostdistinguished academics can be approachable and enthusiastic teachers."
Day 4: Value-relevance, Andrew Stark (Manchester Business School)
Barth et al. (1998): Brand Values and Capital Market Valuation. Review of Accounting Studies
Kallapur, Kwan (2004): The value relevance and reliability of brand assets recognized by UK firms. The Accounting Review
Hann, Heflin and Subramanayam (2007): Fair value pension accounting
Day 5: Cost of capital, Peter Easton (University of Notre-Dame)
Easton (2004): PE ratios, PEG ratios, and estimating the implied expected rate of return on equity capital. The Accounting Review
Easton (2006): Use of forecasts of earnings to estimate and compare cost of capital across regimes. Journal of Business Finance and Accounting
Easton, Taylor, Shroff and Sougiannis (2002): Using forecasts of earnings to simultaneously estimate growth and the rate of return on equity investment. Journal of Accounting Research
URSA KOSI University of Macedonia Early Stage Researcher Comments:
"This INTACCT event promised seven days of presentations by some of the most distinguished academics in the area of accounting. A variety of topics were covered and every Researcher found interesting topics. I expected the presentations to help me develop my research ideas further.
Presenters gave intense presentations during the day but there was also time for group discussions about presented issues. Teaming up in small groups with faculty members and discussing related ideas was very interesting and helpful for Researchers. Also, meeting the faculty members and guest speakers, talking to them one on one and getting feedback on our own ideas was extremely rewarding.
Researchers knew each other briefly and Summer School was a good opportunity to build on our relationships further. We were talking about various topics, discussing research and starting to build the team. I attended this event as a participant and helped with its organisation as well."
Day 6: Disclosure research, Peter Wysocki (MIT)
Leuz, Nanda and Wysocki (2003): Earnings management and investor protection: an international comparison. JFE
Leuz and Wysocki (2007): Economic consequences of financial reporting and disclosure regulation: what have we learned? Working paper.
La Porta, Lopez-de-Silanes and Shleifer (2006): What works in securities laws? The Journal of Finance
Day 7: Synthesis and research proposals, Peter Pope
(Lancaster University)
Synthesis and group discussion
One-to-one advice on research proposals with faculty members