UCLA Anderson School of Management: A Deep Dive into Accounting Faculty Research

The UCLA Anderson School of Management stands as a global hub for cutting-edge research, attracting expert faculty from around the world. Their diverse backgrounds and research interests contribute significantly to the field of accounting and related disciplines. This article delves into the research areas, faculty profiles, and impactful contributions of the accounting faculty at UCLA Anderson.

A Glimpse into Faculty Research

The accounting faculty at UCLA Anderson are actively engaged in a wide array of research topics, pushing the boundaries of knowledge in financial reporting, auditing, and related fields. Their research often explores the intersection of accounting with other disciplines like finance, economics, and psychology, leading to innovative insights and practical implications. The Center for Impact and the Fink Center at UCLA Anderson proudly support faculty research by awarding annual grants to support research projects.

Analytical Models in Financial Reporting

One prominent area of research focuses on analytical models in financial reporting, voluntary disclosure, performance measurement, incentives, and contracting. Researchers in this area develop and analyze theoretical models to understand how accounting information is used by investors, managers, and other stakeholders. These models provide valuable insights into the design of optimal accounting standards and corporate governance mechanisms.

Behavioral Decision Making

Another significant area of focus is behavioral decision-making. This interdisciplinary field examines how psychological factors influence the decisions of individuals and organizations. Accounting researchers in this area investigate how cognitive biases, emotions, and social influences affect financial reporting, auditing, and investment decisions.

The Fed Model Valuation Methodology

Professor Bruce Miller's expertise includes both financial and managerial accounting. His current research centers on the Fed model valuation methodology. There is a lot of merit to the Fed model.

Risk Evaluation and Mitigation Strategies (REMS)

Research also delves into the critical area of risk evaluation and mitigation strategies (REMS). These programs are essential for ensuring that the benefits of certain high-risk medications outweigh their potential risks. This research contributes to the development of effective REMS programs, safeguarding public health and promoting responsible pharmaceutical practices.

Spotlight on Faculty Members

Several distinguished faculty members contribute significantly to the vibrant research environment at UCLA Anderson. Here are a few examples:

Beatrice Michaeli

Beatrice Michaeli joined the UCLA Anderson faculty in 2014 after completing a Ph.D. and an M.Phil. in accounting at Columbia Business School. Her research addresses analytical models in the areas of financial reporting, voluntary disclosure, performance measurement, incentives, and contracting. Before embarking on her academic career, Michaeli pursued a law degree and worked in prosecution of white collar crimes. This experience provides her with a unique perspective on the ethical and legal aspects of accounting. At UCLA, Michaeli teaches the MBA class "Corporate Decision Making and Incentives," using concrete case studies to engage students and encourage them to think critically about real-world problems. “My teaching is very hands-on,” she says.“ I encourage students to observe a problematic situation and think of a solution. Sometimes there’s not one super solution; students need to consider under what circumstances one or another specific solution is better.

David Ravetch

David Ravetch has been a UCLA faculty member for more than 30 years. Well recognized for his passion for teaching, he has received numerous teaching awards: UCLA accounting students voted him Favorite Accounting Instructor, and students campus-wide voted him Most Recommended Instructor. When Ravetch first began teaching at UCLA, the current Undergraduate Accounting Minor was in its infancy. In the fall of 1995, the Accounting Minor became the first approved minor at UCLA. Ravetch has always been focused on the success of his students, both academically and professionally. In addition to his love of teaching, Ravetch has a passion for music. He plays the piano, guitar and clarinet. He has written many musicals for children and about the public accounting profession that have been performed at the annual UCLA Accounting Awards banquets.

Siew Hong Teoh

Siew Hong Teoh is a prolific researcher with a wide range of interests in accounting, finance, and behavioral economics. Her research has been published in leading academic journals and has been featured in prominent media outlets like the Wall Street Journal. Teoh's work explores topics such as limited attention, investor psychology, and the impact of disclosure on financial markets.

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Selected Publications

Teoh's extensive publication record includes influential articles such as:

“Limited Attention and Financial Decision Making,” Alex Nekrasov, Siew Hong Teoh, and Shijia Wu.
“Non-Audit Services in Audit Committee-Interlocked Firms, Financial Reporting Quality, and Future Performance” Linna Shi, Siew Hong Teoh, and Jian Zhou.
“Valuation of New Trademarks” Po-Hsuan Hsu, Dongmei Li, Qin Li, Siew Hong Teoh and Kevin Tseng.
“Misvaluation and Corporate Inventiveness.” Ming Dong, David Hirshleifer, and Siew Hong Teoh.
“Opportunity knocks but once: delayed disclosure of financial items in earnings announcements and neglect of earnings news,” Alex Nekrasov, Yifan Li, and Siew Hong Teoh.
“There Is Little Evidence that the Industrial Revolution Was Caused by a Preference Shift ” David Hirshleifer and Siew Hong Teoh.
“Decision Fatigue and Heuristic Analyst Forecasts” David Hirshleifer, Yaron Levi, Ben Lourie, and Siew Hong Teoh.
“Headline Salience and Over- and Underreaction to Earnings” Xuan Huang, Alex Nekrasov, and Siew Hong Teoh.
“Social Transmission Bias and the Cultural Evolution of Folk-Economic Beliefs ” David Hirshleifer and Siew Hong Teoh.
“The Promise and Challenges of New Datasets for Accounting Research” Siew Hong Teoh.
“Limited attention, statement of cash flow disclosure, and the valuation of accruals” Bin Miao, Siew Hong Teoh, and Zinan Zhu.
“Tone Management,” Xuan Huang, Siew Hong Teoh, and Yinglei Zhang.
“Mispricing of Book-Tax Differences and Trading Behavior of Short Sellers and Insiders,” Sabrina Chi, Mort Pincus, and Siew Hong Teoh.
“Are Overconfident CEOs Better Innovators?” David Hirshleifer, Angie Low, and Siew Hong Teoh.
“Systemic Risk, Coordination Failures, and Preparedness Externalities: Applications to Tax and Accounting Policy,” David Hirshleifer and Siew Hong Teoh.
“The Psychological Attraction Approach to Accounting and Disclosure Policy,” David Hirshleifer, and Siew Hong Teoh.
“Do Individual Investors Drive Post-Earnings Announcement Drift? Direct Evidence from Personal Trades,” David Hirshleifer, James N. Myers, Linda A.
“Do Investors Overvalue Firms with Bloated Balance Sheets?,” David Hirshleifer, Kewei Hou, Siew Hong Teoh and Yinglei Zhang.
“Limited Attention, Information Disclosure, and Financial Reporting,” David Hirshleifer and Siew Hong Teoh.
“Investor Psychology in Capital Markets: Evidence and Policy Implications,” Kent Daniel, David Hirshleifer and Siew Hong Teoh.
“Why Do New Issuers and High-Accrual Firms Underperform: The Role of Analysts’ Credulity,” Siew Hong Teoh, and T.J.
“Are the Accruals During and Initial Public Offering Opportunistic?” Siew Hong Teoh, T.J.
“Earnings Management and the Long-Run Market Performance of Initial Public Offerings,” Siew Hong Teoh, Ivo Welch, and T.J.
“Earnings Management and the Underperformance of Seasoned Equity Offerings,” Siew Hong Teoh, Ivo Welch and T.J.
“Information Disclosure and Voluntary Contributions to Public Goods,” Siew Hong Teoh, Rand Journal of Economics 28-3, Autumn 1997; 385-406.
“Perceived Auditor Quality and the Earnings Response Coefficient,” Siew Hong Teoh and T.J.
“Limited Attention,” Sonya Seongyeon Lim and Siew Hong Teoh.
“Psychological Influences on Financial Regulation and Policy,” Siew Hong Teoh and David Hirshleifer.
“Thought and Behavior Contagion in Capital Markets,” David Hirshleifer and Siew Hong Teoh.
“Decisions Without Blinders,” David Hirshleifer and Siew Hong Teoh, Harvard Business Review, 2006.
“Self-Deception and Deception in Capital Markets,” Joshua D. Coval, David Hirshleifer, and Siew Hong Teoh.
“Using Psychology to Explain Market Moves,” with David Hirshleifer, Optimus.
"GIF sentiment and Stock Returns," Ming Gu, Siew Hing Teoh, and Shijia Wu.
“Disclosure to an Audience with Limited Attention” David Hirshleifer, Sonya S.

Bruce Miller

Professor Bruce Miller’s expertise includes both financial and managerial accounting. Before joining the UCLA Anderson faculty in 1984, he was on the faculty of UCLA’s School of Engineering and Applied Science. Prior to coming to UCLA, he worked for two years at the RAND Corporation in Santa Monica, taught for one year at the Center for Operations Research and Econometrics in Louvain, Belgium, and taught for one year in the business school at UC Berkeley.

Hengchen Dai

Hengchen Dai, Associate Professor, Behavioral Decision Making.

Andrea Low

Andrea Low, Ph.D.

Yangkeun Yun

Yangkeun Yun, Ph.D.

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Christopher S.

Christopher S., UCLA Distinguished Professor and Edward W. Miguel M.

Impactful Research and Real-World Applications

The research conducted by the accounting faculty at UCLA Anderson has significant implications for practice and policy. Their findings inform the decisions of investors, managers, auditors, and regulators, contributing to more efficient and transparent financial markets.

Informing Investment Decisions

Research on investor psychology and limited attention helps investors understand their own biases and make more informed investment decisions. For example, studies on headline salience and over- and underreaction to earnings news can help investors avoid being swayed by superficial information and focus on fundamental analysis.

Improving Corporate Governance

Research on corporate governance and executive compensation provides insights into the design of effective governance mechanisms that align the interests of managers and shareholders. For example, studies on the relationship between CEO overconfidence and innovation can help companies select CEOs who are more likely to drive innovation and create long-term value.

Shaping Accounting Standards and Regulations

Research on financial reporting and disclosure informs the development of accounting standards and regulations that promote transparency and comparability. For example, studies on the impact of limited attention on the valuation of accruals can help regulators design disclosure requirements that are more effective in conveying information to investors.

Addressing Global Challenges

The Center for Impact is proud to support globally renowned faculty who conduct research that has the power to change the way business is led. Research addresses pressing global challenges such as sustainable development and social responsibility. By examining the role of accounting in promoting these goals, the faculty contributes to a more sustainable and equitable future. How to Speed Progress on U.N.

De Minimis

Here’s what the loss of ‘de minimis’ means for retailers … Low-value imports are losing the tariff-free status they’ve enjoyed since the 1930s.

Nvidia and AMD’s AI Chips

The reversal of export restrictions on Nvidia and AMD’s AI chips to China reflects a transactional approach to national security, one that prioritizes revenue over resilience.

Encouraging Constructive Disagreements

To foster constructive disagreements, organizations should encourage individuals to modify their observable behaviors during conflicts, by Julia A. Minson, Hanne K.

The Student Experience

UCLA Anderson provides a rich learning environment for students interested in accounting. The faculty's commitment to teaching excellence, combined with their cutting-edge research, provides students with a unique opportunity to learn from the best and brightest minds in the field.

Undergraduate Accounting Minor

When Ravetch first began teaching at UCLA, the current Undergraduate Accounting Minor was in its infancy. In the fall of 1995, the Accounting Minor became the first approved minor at UCLA.

Mentorship and Career Development

The faculty are dedicated to mentoring students and helping them develop their careers. They provide guidance on course selection, research opportunities, and career paths. The success of UCLA Anderson alumni in the accounting profession is a testament to the quality of the education and mentorship they receive.

Finance Faculty

UCLA Anderson’s finance faculty are world-renowned and the finance area has long been recognized as one of the world's top-10 programs. Our faculty's backgrounds cover nearly all aspects of the field: asset pricing; derivatives; micro-structure; corporate finance; and investment finance.

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