e was a consultant for standard & poor’s “society of industry … · 2019. 11. 11. ·...
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Garen B. Markarian, MBA, Ph.D.
Professor Chair of Financial Accounting
WHU – Otto Beisheim School of Management
Burgplatz 2, 56179 Vallendar (Germany)
Tel: +49-(0)261-6509-230
Nationality: Russian D.O.B: 1975
Languages: English, Arabic, Armenian (fluent) Russian, Spanish (Intermediate)
French, Italian (working knowledge) German (basic)
Garen Markarian holds the chair of financial accounting at WHU - Otto Beisheim School
of Management. As an international scholar specializing in corporate finance and
governance, he has taught at IE Business School (Madrid), HEC (Paris), Bocconi,
(Milan), Concordia (Montreal), Rice (Houston), and Case Western Reserve (Cleveland).
Previously holding the position of First Regional Economic Officer for Western Asia at
the United Nations, Dr. Markarian has extensive experience in research on governance
mechanisms, executive compensation, the banking crisis, stock markets, and financial
statements and valuation. His publications have received awards both from the American
Finance Association and the American Accounting Association, and have been
mentioned in the Financial Times, Bloomberg, Washington Post, and CFO magazine.
Beforehand, he was a consultant for Standard & Poor’s “Society of Industry Leaders,” as
well as for starts-ups and private equity. Dr. Markarian has 15yrs+ experience in
management education at the undergraduate, masters, executive, and Ph.D. level. He
currently is the academic co-director of the Venture Capital and Private Equity executive
education program, and the academic director of the WHU risk management program
partnered with the Stockholm School of Economics. Dr. Markarian has earned a B.S. in
biology from the American University of Beirut, and a Ph.D. from the Weatherhead
School of Management at Case Western Reserve University.
Employment
WHU – Otto Beisheim School of Management
o Professor, Chair of Financial Accounting (2015-present)
o On leave until 1/7/2019.
IE Business School
o Assistant Professor (2006-2010)
o Professor (2011-2014), tenured.
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Rice University, Jones Graduate School of Business
o Visiting Professor (2012-2013)
United Nations - Regional Economic and Social Development Commission in Western Asia.
o First Regional Economic Officer (2011)
HEC (Paris)
o Adjunct Professor (MBA program)
University of Padova
o Adjunct Professor (Ph.D. and Masters programs)
Universita Commerciale Luigi Bocconi
o Assistant Professor, (2005-2006)
John Molson School of Business, Concordia University
o Assistant Professor, (2004-2005)
Weatherhead School of Management, Case Western Reserve University
o Lecturer, (1999–2004)
Education
Case Western Reserve University, Weatherhead School of Management
o Ph.D. in Management, concentration in Accountancy, January 2005
Case Western Reserve University, Weatherhead School of Management
o Master’s of Accountancy classes, 1999-2000
McNeese State University
o MBA, August 1999
American University of Beirut
o B.S. Biology, May 1996
Honors and Awards
WHU Teacher of the year
o Full Time MBA Program (class of spring 2019)
WHU Teacher of the year
o Part Time MBA Program (class of spring 2017)
WHU Teacher of the year
o Full Time MBA Program (class of fall 2015)
WHU Teacher of the year
o Full Time MBA Program (class of spring 2016)
Academy of Accounting Historians
o Award for Excellence, 2015
Fundacion De Estudios Financieros (FEF: Institute of Financial Studies)
o First Place, Annual FEF Research Prize (€18,000), Income Smoothing and Idiosyncratic
Volatility, 2012
IE Business School, Finalist, Teacher of the Year
o MBA program, 2012
IE Business School, Finalist, Teacher of the Year
o MBA program, 2011
Best Paper Award, IV Research Form of the Spanish Journal of Finance and Accounting
o Income Smoothing and Idiosyncratic Volatility, co-authored with Belen Gil-de-Albornoz,
Universidad Jaume I. Honorable Mention, 2008 Family Business Review Best Article Award Committee
o Earnings Management in Family Firms: Evidence From R&D Cost Capitalization in
Italy, co-authored with Annalisa Prencipe and Lorenzo Pozza, Bocconi University
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IE University, Research Excellence Award
o For contributions to research, 2004-2007
IE Business School, Teacher of the Year
o Masters of Management programs, 2008
Best Paper Award, Issues in Accounting Education, 2007
o Accounting Faculty as an Endangered Species: An Empirical Assessment of the Rise and
Fall of An Academic Discipline, co-authored with Timothy Fogarty
Outstanding Manuscript Award, American Accounting Association - Accounting Programs
Leadership Group, 2005
o Accounting Faculty as an Endangered Species: An Empirical Assessment of the Rise and
Fall of An Academic Discipline, co-authored with Timothy Fogarty
Eastern Finance Association, First Prize, Best Paper in Corporate Finance, 2004
o Stock Options Expensing: Evidence from Shareholders’ Votes, co-authored with Fabrizio
Ferri and Tatiana Sandino
AAA Ohio Section, 1st Place, Deloitte and Touche Graduate Student Paper Competition,
2004
o Managerial Wealth Related Incentives and Earnings Management (first place among 56
eligible schools)
Weatherhead School of Management, Finalist, Undergraduate Teaching Excellence Award,
2003
o Third place, among more than one hundred and fifty courses offered during the academic
year
Professional Affiliations:
Member, American Accounting Association, European Accounting Association
Editorial board member, Issues in Accounting Education (2009-2012).
Editorial board member, Accounting in Europe (2014-)
Editorial board member, Spanish Journal of Accounting (2014-)
Editorial board member, Accounting and Business Research (2017-)
Editorial board member, Research in Accounting Regulation (2017-2018)
Member, IE Finance Research Center
Standing Member, European Accounting Association Scientific Committee (2015-2017, 2018-
2020)
American Accounting Association, Accounting Historians Section, Trustee (2019-2020)
Occasional Reviewer: American Accounting Association annual meetings, Financial Accounting
and Reporting Section annual meetings, Contemporary Accounting Research, European
Accounting Review, Research in Accounting Regulation, Management Research, Advances in
Accounting, Journal of Corporate Finance, Entrepreneurship: Theory and Practice, Spanish
Journal of Accounting, Journal of Management and Governance, Corporate Governance: an
International Review, Journal of Business Finance and Accounting, Accounting and Business
Research, Journal of Banking and Finance, Accounting and Business Research, Accounting in
Europe, Accounting History Review, International Journal of Economics and Finance. Swiss
Science Foundation. Spanish Social Science Ministry, Review of Managerial Science.
Management Science. La revue de l'Association Francophone de Comptabilité. Accounting
Historian’s Journal. Managerial Auditing Journal, International Review of Financial Analysis,
Journal of Applied Accounting Research, Abacus, Sustainability, Journal of Accounting Auditing
and Finance, Heliyon, Journal of Accounting and Public Policy, Emerging Markets Review.
Industry Experience:
United Nations - Regional Economic and Social Development Commission in Western Asia.
o First Regional Economic Officer (Fall 2011-Spring 2012)
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o Part of a 4-person team that worked on providing country specific economic
recommendations to the countries involved in the “Arab Spring:” Bahrain, Jordan, Egypt,
Tunisia. Analysis focused on the general business climate, the development of capital
markets and the banking system, and the activities of private equity and investment
funds.
Consulting Member, Guidepoint Global (formerly S&P Society of Business Leaders): 2010-2013
Various consultancies for private equity, startups, etc.
Research
Books and Monographs
Analyst Forecasts, Earnings Management, and Insider Trading Patterns (Available at www.amazon.com)
Publisher: VDM Verlag (March 20, 2008)
ISBN-10: 383647395X
ISBN-13: 978-3836473958
Fair Value Accounting
(Available at www.amazon.com)
Publisher: Routledge
Edited volume, co-editors Garen Markarian and Gilad Livne
June 2018
The Future of Banking
Publisher: Cambridge University Press
(Proposal under 2nd round review process, possible acceptance of proposal due date: February 2019)
Published Papers
20. Oil Prices, Earnings, and Stock Returns (conditional accept, Review of Accounting Studies)
With Steve Crawford and Volkan Muslu (University of Houston) and Richard Price (University of
Oklahoma)
19. Corporate Investment and Earnings Surprises
European Journal of Finance, Volume 25, 2019 - Issue 16
With Sebastien Michenaud, DePaul University
18. The Role of Irving Fisher in the Development of Fair Value Accounting Thought
Accounting History Review, 28:3, 181-190
17. Quo Vadis: Politics, Uncertainty, and Saudi Aramco
Journal of World Energy Law & Business (an Oxford University Press publication), Volume 11, Issue 6, 1
December 2018, Pages 487–505.
With Tobias Stockhausen, Houlihan Lokey
16. Why Invest in Private Equity? A Comparison of Private Equity and Stock Market Returns
Journal of Alternative Investments. Summer 2019
With Kevin Marchel, Dubai Sovereign Wealth Fund
15. Institutional Investors and Insider Trading Patterns
European Accounting Review, Volume 24, Issue 3, 2015
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With Robert Bricker, Case Western Reserve University
14. Product Market Competition, Information, and Earnings Management
Journal of Business, Finance, and Accounting, 2014, Volume 41 (5-6)
With Juan Santalo, IE Business School
13. The Crisis and Fair Values: Echoes of Early Twentieth Century Debates?
Accounting Historian’s Journal, 2014, Volume 41
12. Investment Horizon, Risk, and Compensation in the Banking Industry
Journal of Banking and Finance, 2013, Volume 37(9)
With Gilad Livne, Cass Business School, City University of London; Maxim Mironov, IE Business School
11. Fair Value Accounting and Compensation in Banks
Journal of Corporate Finance, 2011, 17(4)
With Gilad Livne and Alistair Milne, Cass Business School, City University of London
10. Financial Accounting and the Crisis: is Risk the Missing Link?
European Accounting Review, 2011, 20(2)
With Michel Magnan, John Molson School of Business, Concordia University
9. Managerial Risk Taking Incentives and Income Smoothing
Contemporary Accounting Research, 2009, 26(4)
With Julia Grant, Case Western Reserve University and Antonio Parbonetti, University of Padova
8. Inside Agency: The Rise And Fall Of Nortel
Journal of Business Ethics. 2009, 84(2)
With Timothy Fogarty, Case Western Reserve University and Michel Magnan, Concordia University, and
Serje Bohdjalian, Concordia University.
7. Earnings Management in Family Firms: Evidence From R&D Cost Capitalization In Italy
Family Business Review, 2008, 21(1)
With Annalisa Prencipe and Lorrenzo Pozza, Bocconi University
6. Capitalization of R&D Costs and Earnings Management: Evidence from Italian Listed Companies
The International Journal of Accounting. 2008. 43(3)
With Annalisa Prencipe and Lorrenzo Pozza, Bocconi University
5. Firm Complexity and Board of Director Composition
Corporate Governance: An International Review. 2007, 15(6)
With Antonio Parbonetti, University of Padova.
4. Accounting Faculty As An Endangered Species: An Empirical Assessment Of The Rise And Fall
Of An Academic Discipline
Issues in Accounting Education. 2007, 22(2).
With Timothy Fogarty, Case Western Reserve University.
3. The Convergence of Disclosure and Governance Practices in the World’s Largest Firms
Corporate Governance: an International Review. 2007, 15(2)
With Gary Previts, Case Western Reserve University and Antonio Parbonetti, University of Padovaa.
2. Circumstances Relating To Interlocking Directorates In Italy: An Exploratory Study
Corporate Ownership and Control. 2007, 4(2)
with Antonio Parbonetti, University of Padova, and Gary John Previts, Case Western Reserve University
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1. Value Driver Information: A Content Analysis of M&A and Other Cross Boundary Disclosures of the
Ford Motor Company 1995-2000
Research in Accounting Regulation. 2001, Vol. XV
With Gary Previts, Case Western Reserve University and Orhan Celik, University of Ankara.
Book Reviews
Managing Multinationals in the Middle East by Wagdy D. Abdallah.
Research in Accounting Regulation, Vol. 15, 2001.
The Routledge Companion to Fair Value and Financial Reporting by Peter Walton.
European Accounting Review. 2009, 18(3).
Book Chapters
The Influence of May, Paton, and Littleton on the Economy and Society.
Appearing in “Accounting and Business Economics. Insights from National Traditions,” Edited by Biondi,
Y. and S.Zambon, Routledge, 2011.
Nortel: The Rise and Fall of a Telecommunications Company
With Timothy Fogarty, Case Western Reserve University and Michel Magnan, Concordia University
Online case appearing in “Business Ethics”, edited by Dennis Collins, John Wiley & Sons 2011.
Debt
With Leopoldo Doadrio, IE Business School
Appearing in “The Road to Convergence,” edited by Maria Alvarado, EDISOFER, 2013
Working Papers The effect of import competition on product diversification revisited (3rd round, Strategic Management
Journal)
With Manuel Becerra, University of Queensland, and Juan Santalo, IE Business School
The Impact of the TCJA and Corporate Economic Activity (2nd round, National Tax Journal)
With Steve Crawford (University of Houston), and Jan-Axel Wittlinger (WHU)
Employee Protection Shocks and Corporate Cash Holdings (2nd round, Financial Management)
With Arnt Verriest (EDHEC), and Christof Beuselinck (IESEG)
Endogeneity in the risk-return relationship: The effect of firm performance on earnings predictability and
performance variability (2nd round, Organization Science)
With Manuel Becerra, University of Queensland
Income Smoothing and Idiosyncratic Volatility
With Belen Gill-de-Albornoz Noguer, University Jaume I
The Tsunami No One Could Predict: Un-forecasted Firm Performance, Determinants and Consequences
With Manuel Becerra, IE Business School
Institutional Trading, Information, and Executive Compensation
With Paul Laux, University of Delaware and Miguel Ferreira, ISCTE
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Investor Fear and Earnings Management: VIX-Based Evidence
With Joachim Gassen, Humboldt University, Robert Watson, IE Business School
The Internationalization of Accounting Research: Slow Progress at the Top
With Timothy Fogarty, Case Western Reserve University; Salvador Carmona, IE Business School
Work-in-Progress Numerous papers that are in the data analysis stage, that deal with financial reporting, compensation, and
governance. Some of these papers are already presented in conferences, and some have rough drafts.
Media Mention o Crain’s Cleveland Business: “Image of the region can have great worth,” May 19, 2003,
o FT.com: “Calculating compensation,” April 6, 2006
o CFO.com: “Whither the Accounting Profs?” Apr. 3, 2007
o Journal de Negocios: “Should the EU limit executive pay?”
o Bloomberg.com: “Wirecard Still Raises Plenty of Questions” April 26, 2019
Covered by the WashingtonPost.com. April 27, 2019
o Financial Times: “Investors take on Germany Inc” May 8, 2019
Presentations
Invited Conference Presentations
- London Business School annual summer symposium, 2008. Managerial Risk Taking Incentives and
Income Smoothing, discussant: Daniel Cohen, NYU.
- University of Cagliari, Amsterdam and Vanderbilt conference on Shareholder Rights, Shareholder
Voting and Corporate Performance. 2008. Stock Option Expensing: Evidence from Shareholders'
Votes. Discussant: Christine Mallin (University of Birmingham)
- University of Padova Corprorate Governance conference, 2010. Financial Interlocks and Earnings
Management: Evidence from Italy, discussant: Andrea Menini (U. of Padova).
- Journal of Corporate Finance special issue conference, 2010. Fair Value Accounting and
Compensation in Banks, discussant: Mark Clatworthy, (Cardiff Business School).
- Infiniti Conference Trinity College (special issue of the Journal of Banking and Finance). 2010.
Investment Horizon, Risk, and Compensation in the Banking Industry. Discussant: Emili Tortuosa
(Jaime I University)
- IE Business School / Carlos III University / IESE / CEMFI annual Finance Conference. 2010. Opacity,
Institutional Trading, and Executive Compensation. Discussant: John Core (MIT).
- London School of Economics / University of Manchester Summer conference. 2010. Income
Smoothing and Idiosyncratic Volatility. Discussant: Per Olsson (Duke University)
- Journal of Business Finance and Accounting, annual conference (invitation only). 2018. Discussion:
Transparency and Insider Trading (author: Philip Brochet)
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- 2nd LMU Accounting, Auditing, and Analysis Conference. 2018. Presentation: What is in a Billion
Dollar Smile? (co-author: Robert Liedenstreich).
Invited Presentations
- New York University: Oct. 2003, Stock Option Expensing: Evidence from Shareholders' Votes
- York University: March 2004, Stock Option Expensing: Evidence from Shareholders' Votes
- University of Western Ontario: March 2004, Stock Option Expensing: Evidence from Shareholders'
Votes
- Concordia University: April 2004, Stock Option Expensing: Evidence from Shareholders' Votes
- University of Padova: May 2005. Stock Option Expensing: Evidence from Shareholders' Votes
- Erasmus University: March 2006. Stock Option Expensing: Evidence from Shareholders' Votes
- IE Business School: March 2006. Stock Option Expensing: Evidence from Shareholders' Votes
- Norway School of Economics: April 2007. Managerial Risk Taking Incentives and Income Smoothing
- Cass Business School: Oct 2009. Income Smoothing and Idiosyncratic Volatility.
- Carlos III University: March 2009. Income Smoothing and Idiosyncratic Volatility.
- UNC-Chapel Hill: February 2010. Income Smoothing and Idiosyncratic Volatility.
- Bocconi University: October 2010. Income Smoothing and Idiosyncratic Volatility.
- ESSEC-Paris: October 2011: Opacity, Institutional Trading, and Executive Compensation.
- Tilburg University: March 2012: Opacity, Institutional Trading, and Executive Compensation.
- WHU-Koblenz: May 2013: Industry Earnings Quality and Firm Level Information Uncertainty.
- LUISS University – Rome: February 2017: Oil Prices, Earnings, and Stock Returns.
- University of Bolzano: March 2017: Oil Prices, Earnings, and Stock Returns.
Peer Reviewed Conference Presentations (does not include presentations by co-authors)
American Accounting Association Annual Meeting
2002 San Antonio
Critical Accounting and its Discontents
2005 San Francisco
Accounting Faculty as an Endangered Species: An Empirical Assessment of the Rise and Fall
of an Academic Discipline
2007 Chicago
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Inside Agency: The Rise And Fall Of Nortel
Firm Complexity and Board of Director Composition
2008 Anaheim
Capitalization of R&D Costs and Earnings Management: Evidence from Italian Listed Companies
Institutional Investors and Insider Trading Patterns
2009 New York
Institutional Trading, Information, and Executive Compensation
Managerial Risk Taking Incentives and Income Smoothing
2010 San Francisco
Fair Value Accounting and Compensation in Banks
Investor Fear and Earnings Management: VIX-Based Evidence
The Internationalization of Accounting Research: Slow Progress at the Top
2011 Denver
The Influence of May, Paton, and Littleton on the Economy and Society
Financial Accounting and the Crisis: is Risk the Missing Link?
Income Smoothing and Idiosyncratic Volatility
Panel Presentation: Research in Accounting Historiography.
Investment Horizon, Risk, and Compensation in the Banking Industry
2012 Washington DC
The Crisis and Fair Values: Echoes of Early Last Century Debates? Product Market Competition, Information and Earnings Management
2013 Anaheim
Corporate Governance and Firm Performance: Evidence from Global Banks
2014 Atlanta
Corporate Investment and Executive Myopia
Financial Accounting and Reporting Section Mid-Year Meeting
2005 San Diego
Stock Option Expensing: Evidence from Shareholders' Votes
2009 San Diego
Managerial Risk Taking Incentives and Income Smoothing
2010 New Orleans
Income Smoothing and Idiosyncratic Volatility. Discussant: Sudarshan Jayaraman
2011 Tampa
Financial Interlocks and Earnings Management: Evidence from Italy
Academy of Management Conference
2010 Montreal
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Product Market Competition, Information, and Earnings Management
2011 San Antonio
The Tsunami No One Could Predict: Un-forecasted Firm Performance, Determinants and
Consequences
European Accounting Association Annual Meeting
Copenhagen, 2002
The Convergence of Disclosure and Governance Practices in the World’s Largest Firms
Goteburg 2005
Accounting Faculty as an Endangered Species: An Empirical Assessment of the Rise and Fall
of an Academic Discipline
Stock Option Expensing: Evidence from Shareholders' Votes
Dublin 2006
Institutional Investors and Insider Trading Patterns
Lisbon 2007
Managerial Risk Taking Incentives and Income Smoothing
Inside Agency: The Rise And Fall Of Nortel
Firm Complexity and Board of Director Composition
Institutional Trading, Information, and Executive Compensation
Istanbul 2010
Fair Value Accounting and Compensation in Banks
Investor Fear and Earnings Management: VIX-Based Evidence
Other Conferences
Spanish Financial Accounting Symposium (2008)
CEO Risk-Related Incentives and Income Smoothing
St.Gallen Accounting Symposium (2017)
Oil Prices, Earnings, and Firm Performance
Spanish Finance Association (2012)
Institutional Trading and Executive Compensation
Discussions at Peer Reviewed Conferences
American Accounting Association Annual Meeting: San Francisco 2010
Bankruptcy Codes and Investor Response to Accounting Disclosures: The Case of Going-Concern
Opinions.
Asad Kausar, Manchester Business School; Richard Taffler, Manchester Business School; Christine Tan,
Fordham University
Firm Growth, Asset Write-Downs, and Market Reactions.
Liu-Ching Tsai, National Chia-Yi University; Chaur-Shiuh Young, National Cheng Kung University; Wen-
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Chi Sun, Far East University, National Cheng Kung University
Market Reaction to the Potential Adoption of International Accounting Standards in U.S.
Paul Tanyi, Florida International University; Steve W. Lin, Florida International University
Nonfinancial Performance Measures and the Incentive Intensity of CEO Bonus Contracts.
Jan Bouwens, Tilburg University; Peter Kroos, VU University
Global Diversification and Cost of Equity.
Xiaowen Jiang, University of Cincinnati; Pradyot K. Sen, University of Cincinnati
Interlock Social Capital, Firm Value and Market Efficiency.
Nan Hu, University of Wisconsin–Eau Claire; Ling Liu, University of Wisconsin–Eau Claire; Chenkai Ni,
Singapore Management University
Revising the Sufficient Condition for Information to be Socially Valuable in Pure Exchange.
Zemin Lu, United International College, Beijing Normal University, Hong Kong Baptist University
Outside Director Independence, Auditor Independence and Executive Cash Bonus Compensation.
Christoph Watrin, University of Münster; Christiane Pott, University of Münster; Tobias Tebben,
University of Münster
American Accounting Association Annual Meeting: Denver 2011
The Dark Side of Trading
Ilia D. Dichev, Emory University; Kelly Huang, Georgia State University; Dexin Zhou, Emory University;
The Impact of Changes in Competition in the Syndicated Loan Market on Financial Covenant Use
Jingjing Zhang, Northwestern University;
Conflict Interests but Congruent Targets of Different Stakeholders: Case University of Applied Sciences
(UAS)
Aapo Länsiluoto, Seinäjoki University of Applied Sciences; Marko Järvenpää, University of Jyväskylä;
The Impact of Ratee Incentive on Performance Distribution and Target-Setting
Tae-Sik Ahn, Seoul National University; Youn-Sik Choi, Seoul National University; Iny Hwang, Seoul
National University;
IFRS and the Use of Accounting Based Performance Measures
Georgios Voulgaris, University of Edinburgh; Konstantinos Stathopoulos, University of Manchester;
Martin Walker, University of Manchester;
Analysis of Characteristics Motivating Firms’ IFRS Adoption: Evidence from the European Union
Victoria Krivogorsky, San Diego State University; Jui-Chin Chang, Texas A&M International University;
Ervin L. Black, Brigham Young University;
American Accounting Association Annual Meeting: Washington DC 2012
Do Outside Directors Tell the Truth, the Whole Truth, and Nothing but the Truth When They Resign?
Keren Bar-Hava, Hebrew University; Benjamin Segal, INSEAD; Dan Segal, Interdisciplinary Center, Israel
Corporate Governance and Insider Trading.
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Lili Dai, Erasmus University; Renhui Fu, Erasmus University; Jun-Koo Kang, Nanyang Technological
University; Imnoo Lee, Korea Advanced Institute of Science and Technology
Financial Analysis Used in Clean Development Mechanisms: Fact or Fiction?
Hui Chen, University of Colorado at Boulder; Peter Letmathe, Aachen University; Naomi Soderstrom,
University of Colorado at Boulder
American Accounting Association Annual Meeting: Atlanta 2014
Labor Unemployment Risk and Sticky Cost Behavior
Jeong-Bon Kim, City University of Hong Kong
Ke Wang, City University of Hong Kong
Information and Inter-firm Coordination
Sara Bormann, LMU Munich School of Management
Jan Bouwens, Tilburg University
Christian Hofmann, LMU Munich School of Management
Social Responsibility and Firm Performance
Joanna L. Ho, University of California, Irvine
Fu-Hsuan Hsu, National Taiwan University
Chia-Ling Lee, National Chung Cheng University
Teaching Experience:
Case Western Reserve University, Weatherhead School of Management (2000-2004)
"Introduction to managerial accounting," to undergraduate and graduate students from a variety of
departments. Received evaluations of 4.0, 4.4, 4.3, 4.5, 4.64, 4.4, and 4.3, 3.9, 4.4, 4.8 from a maximum of
5.0 respectively.
Concordia University, John Molson School of Business (Fall and Spring 2004-05)
“Introduction to Financial Accounting” (Fall 2004), evaluations of 4.5 and 3.9 out of 5.0.
“Accounting Theory” (Spring 2005) evaluations of 4.2 and 4.2 out of 5.0.
Bocconi University (Fall and Spring 2005-06)
A: Undergraduate classes:
“Consolidated financial statements” (Fall 2005), evaluation: 67/100
“Financial statement analysis” (Spring 2006), evaluation of 4.8/5
B: Graduate classes:
For Master of Science: “Performance measurement and control” (Fall 2005), evaluation: 67/100.
For MBA: “Introductory financial accounting” (Fall 2005), received an evaluation of 5.1/7.
For EMBA: “Seminar on consolidated financial statements,” received evaluation of 5.3/7.
For Ph.D.: International accounting research, corporate governance, topics in financial accounting
For Master of Science: “Management accounting and control,” evaluation of 4.1/5
University of Padova (Spring 2006)
For Ph.D.: Topics in Corporate Governance and Contract Theory
For Masters in Science: Financial Statement Analysis
Southern European Center for Contemporary Finance
Executive 2-day course: Financial Statement Analysis and Valuation: 4.7/5
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IE Business School (Fall 2006-Fall 2014)
Have taught a variety of classes that discuss Financial Accounting, Financial Statement Analysis, and
Valuation, to MBA students, Private Equity, Ph.D.s, and executives.
Average class rating for Financial Accounting for MBA programs: 4.15/5.
Average class rating for Financial Statement Analysis for MBA programs: 3.8/5
Average class rating for executive programs: 4.3/5
Average class rating for masters programs: 4.1/5
Average class rating for Private Equity and Valuation: 4.15/5
HEC Paris (Spring 2011, Spring 2016)
MBA program (part-time). Financial Accounting. Class rating: 4.8/5, 4.6/5.
Rice University (2012-2013)
MBA program (part-time). Financial Accounting. Class rating: 4/5.
MBA program (full-time). Financial Accounting. Class rating: 2.8/5.
Undergraduate program. Financial Accounting. Class rating: 4/5.
WHU (2015-current)
MBA program (part-time). Financial Accounting. Class rating: 4.9/5.
MBA program (full-time). Financial Accounting. Class rating: 4.4/5.
MIF program. Financial Statement Analysis and Private Equity. Class rating: 4.4/5.
Other:
AAA Competitive Manuscript Committee, 2007
AAA Competitive Manuscript Screening Committee, 2008
AAA Wildman Award Committee, 2009
AAA Competitive Manuscript Committee, 2010
AAA Competitive Manuscript Committee, 2011
AAA Competitive Manuscript Committee, 2012
EAA 2014 Scientific Committee, EAA 2015 Scientific Committee, EAA 2016 Scientific
Committee
Participant: AAA Doctoral Consortium, Lake Tahoe, 2003
University service activities: co-director of WHU ExecEd program on Risk Management (Joint with
the Stockholm School of Economics), co-director of WHU ExecEd program on Venture Capital and
Private Equity, served on a variety of departmental/university committees.
Thesis Supervision:
2015/2016:
- Daniel Luca Assmann, MSc Class 2016:
“Operational Value Creation in Private Equity - Engaging for Operational Excellence”
- Kevin Marchel, MSc Class 2016:
“Why invest in Private Equity? - An Empirical Comparison of Private Equity Returns to
Levered Stock Market Returns”
- Dania D. Veen, MSc Class 2016
“Key Drivers of Private Equity Performance: Analysis of German Leveraged Buyouts”
- Michael Vomweg, MBA Class 2016:
“Investigation of value creation drivers in private equity transactions with special focus on
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the success factors of “buy and build” strategies - evidence from Auctus Capital Partners
AG”
2016/2017:
- Kaushik Vikram MSc Class 2017:
"New Value Creation Pathway in Private Equity: Add-ons”
- Michael Wolnicki, MSc Class 2017:
“Empirically Assessing the Determinants of Add-On Acquisitions and Analyzing the Buy-
and-Build Strategy”
- David Savioz, MSc Class 2017:
“Current Trends and Evolution of Co-investments in Private Equity”
- Sebastiano Lange MSc Class 2017:
“Private Equity: An Analysis of ten LBO-IPO Transactions”
- Jan-Pelle Kummer, MSc Class 2017:
“Add-on Acquisitions and Platform Building as a New Trend in Private Equity”
- Hannes Kempter, MSc Class 2017:
“Syndication of Private Equity Transactions – Influence of external factors such as interest
rates, current competitive landscape or expected GDP growth on the decision of investors to
syndicate”
- Francesco Marcon Fiastri, MSc Class 2017:
“The surge of Co-investments and Club deals in the Private Equity Landscape”
- Viktor Pallua, MSc Class 2017:
“Value Creation of Buy & Build Strategies in the Private Equity Industry”
- Ivan Stanchev, MSc Class 2017:
“Private Equity in Central and Eastern Europe”
- Patrick Breuer, MBA Class 2017:
“Listed Private Equity: An overview and performance examination of an opaque asset
class”
2017/2018:
- Manyi Qin, MSc Class 2018:
“Gender pay gaps: Evidence from U.S. Top Executives”
- Xingying Long, MSc Class 2018:
“Empirical Research of Chinese Market Reaction to M&A Transactions from Private
Equity”
- Robert Lindenstreich, MSc Class 2018:
“What is in a Smile?”
- Lukas Ziegler, MSc Class 2018:
“Leveraging Market Opportunities in Real Estate Private Equity”
- Christian Backhaus, BSc Class 2018:
“Why do banks fail? The impact of diversification”
- Sarah Stierle, MBA Class 2018:
“Executive Gender Pay Gap – Does the Executive Gender Pay Gap exist and to what
extent?”
- Nikola Slaveski, MBA Class 2018:
“Founding Strategy and Business Plan for Setting-up a Private Equity Buyout Firm with
Focus on Central and Eastern Europe”
- Tobias Stockhausen, MBA Class 2018:
“Valuation of Saudi Aramco”
- Dumitru Mitu, MBA Class 2018:
“Key Drivers of M&A Deals”
15
References:
Paul Laux, Ph.D., professor, Lerner College of Business, University of Delaware. [email protected]
Salvador Carmona, Ph.D., Rector, IE University, [email protected]
David Bach, Ph.D., Dean of Programs, Yale School of Management. [email protected]