This course is intended to (1) introduce students to empirical “capital markets” research; and (2) develop the ability of students to analyze the theory underlying a research paper, the nature of the research question addressed, and the data and research designs used to address the research question. Topics include the relation between earnings and stock prices and returns, earnings-related anomalies, analyst forecasts, accruals and accruals anomalies, earnings management, auditing and value relevance research.

PhD students only (or with instructor permission). No non-Booth students.

There is an extensive reading list of published and unpublished research papers.

Based on a take home exam, class participation, and in-class presentations. No provisional grades. No auditors.