"Accounting for Value"

Faculty Development Seminar

Abstract   Accounting for Value teaches investors and analysts how to handle accounting in evaluating equity investments.  The book’s novel approach shows that valuation and accounting are much the same: valuation is actually a matter of accounting for value.  Accounting for value recasts “value” versus “growth” investing and explains such curiosities as why earnings-to-price and book-to-price ratios predict stock returns. http://cup.columbia.edu/book/978-0-231-15118-4/accounting-for-value/reviews

Biography   Stephen H. Penman is the George O. May Professor and the Morgan Stanley Research Scholar in the Graduate School of Business, Columbia University.  Prior to his appointment at Columbia in 1999, he was the L. H. Penney Professor in the Walter A. Haas School of Business at the University of California at Berkeley.  From 1990-95 he served as Chairman of the Professional Accounting Program and Chairman of the Accounting Faculty.  Professor Penman received a first-class honors degree in commerce from the University of Queensland, Australia, and M.B.A. and Ph.D. degrees from the University of Chicago.  His research is concerned with the valuation of equity and the role of accounting information in security analysis.  He has published widely in finance and accounting journals.  In 2002 he was awarded the American Accounting Association and Deloitte & Touche Wildman Medal for his book, Financial Statement Analysis and Security Valuation, published by McGraw-Hill/Irwin.  He is managing editor of the Review of Accounting Studies.  In 2009, Professor Penman was awarded an Honorary Doctorate by the Stockholm School of Economics. 

 

Friday, March 25, 2011 from 10:30 a.m. to noon
401 Peter B. Lewis Building
11119 Bellflower Road
Cleveland, OH 44106-7235
Speaker(s): STEPHEN H. PENMAN, Columbia University
Sponsored by: Dept. of Accountancy

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