Prof. Yaniv Konchitchki (at UC Berkeley since 2011)

Associate Professor

Distinguished Teaching Fellow

UC Berkeley, Haas School of Business

 

CONTACT INFO

UC Berkeley, Haas School of Business

545 Student Services Building #1900

Berkeley, CA 94720, USA

Phone: (+1) 510-643-1409    Fax: (+1) 510-642-4700

Email: yaniv@haas.berkeley.edu

 

PERSONAL:  IN MEMORY    

 

 

RESEARCH INTERESTS

· Macro-Accounting (e.g., overall price levels; economic fluctuations and growth including recessions and GDP; interest/discount rates; real estate; national accounting)

· Capital markets research in accounting, focusing on the linkages between firms’ financial information, stock valuation, and the macroeconomy

 

 

 

BACKGROUND AND RESEARCH SUMMARY

Before receiving a PhD from Stanford University Graduate School of Business, I mainly worked for PricewaterhouseCoopers (PwC) as a Certified Public Accountant (CPA) and a Senior Financial Consultant.

 

My interest and expertise are in Interdisciplinary Capital Markets Research, and in particular I helped develop a growing research area called Macro-Accounting. In my research, I focus on real-world problems related to macro-level topics that can be illuminated through a financial accounting lens. My research is rooted in macroeconomics and information economics, and it focuses on understanding the linkages between accounting information, stock valuation, and the macroeconomy. Examples of topics that I examine are overall price levels, economic fluctuations and growth including recessions and GDP, interest/discount rates, real estate, and national accounting. My research also closely relates and contributes to research on Equity Valuation, Asset Pricing/Stock Price Discovery/Market Efficiency, Financial Statement Analysis, and Properties of Accounting Information, four major areas in capital markets research.

 

My approach to research is holistic: firms do not operate in a vacuum, but rather as part of the macroeconomy. This approach complements traditional research in accounting, which, since its formation, has tended to focus on the micro level of the individual firm rather than on how firms are affected by, or inform, the macroeconomy. This traditional approach provides key insights for research questions at the firm level, but it leaves open many questions about possible macro-accounting links with the potential to advance the accounting field. My research sheds light on a few of these open questions, serving as a starting point for new research avenues. I particularly focus on investigating two Macro-Accounting dimensions:

 

· Macro-to-Micro, e.g., how inflation informs accounting results, stock valuation, and forecasting of individual firms’ fundamentals, and how a firm’s sensitivity to macro conditions affects its stock valuation;

· Micro-to-Macro, e.g., how accounting results aggregated across individual firms help predict GDP growth, and how analyzing financial statements of firms located within the same geographic region contributes to real estate valuation.

 

I have published my research in top-tier academic and professional journals, and consistently received awards for research and teaching excellence including:

· international (World’s Top 40 Under 40; featured in Haas   P&Q   Fortune);

· from the accounting profession (Winner of the American Accounting Association’s Best Paper Award; More  More);

· across Berkeley (e.g., Hellman Fellow—a most promising assistant professor); and

· within Haas (e.g., Schwabacher Fellow, Bakar Fellow, Club Six Cheit Award—for excellence in research and in teaching core MBA and PhD research classes).

 

 

 

EDUCATION AND PROFESSIONAL CERTIFICATION

· Stanford University, Graduate School of Business

Ph.D. in Business Administration (Accounting). 2007

M.Sc. in Statistics (emphasis on Math courses). 2004

×        Dissertation Chair: Prof. Mary Barth

×        Dissertation on Macro-Accounting (inflation)

 

· Tel Aviv University

M.A. in Economics (emphasis on Math and Macroeconomics). 2002

B.A. in Economics and Accounting (emphasis on Math and Macroeconomics). 2000

×        Completed all courses required for an Econ Ph.D. (emphasis on Math and Macroeconomics)

 

· Certified Public Accountant (CPA). 2003

 

 

 

INVITED SPEAKER PRESENTATIONS

· 2016-2017: BlackRock. LBS. MIT. Northwestern University. Federal Reserve Bank of San Francisco. UC Berkeley’s Haas. Wharton (inaugural accounting research conference). AQR*. USC. IDC (summer finance conference). UNC. U. Washington. U. Sydney. IDC (finance/accounting). Stanford University*. U.S. Army Cyber Command Counter-Terr orism Task Force. UCSD. George Washington University (conference)*. Naval Postgraduate School. Hitotsubashi University (Tokyo)*. Tokyo Keizai University*. CUHK*. UC Berkeley’s Center for Risk Management Research. HKUST*. Tel Aviv University (finance/accounting). U. Toronto. CAPANA*. Tel Aviv University (international accounting conference). Arizona State University*. George Washington University (workshop)*. Wharton (second presentation this year). Carnegie Mellon University*

 

· 2014-2015: Columbia University. Tel Aviv University. UC Berkeley (all-faculty seminar). Review of Accounting Studies Conference (invited discussant). UC Irvine. Tel Aviv University. CFA Institute Invited Financial Analysts Journal Featured Author Interview. Hebrew University*. Norwegian School of Economics*. CAPANA*. UC Berkeley. BlackRock

 

· 2012-2013: UCLA. LBS. Bocconi University. UC Berkeley (all-faculty seminar). Penn State*. Santa Clara University. China Securities Regulatory Commission. USC

 

· 2009-2011: USC. New York University. UC Berkeley. Tel Aviv University. The Ono College. California Polytechnic State University. Alternative Asset Summit for Hedge Funds, Pension Funds, and Institutional Investors

 

· 2007-2008: Columbia University. U. Miami. University of Southern California. University of North Carolina. Stanford University. Georgetown University. U. Toronto. Rice University. Stanford University (all-faculty seminar). U. Minnesota. Barclays Global Investors

 

· Other, presentations and/or invited/regular participation, including multiple times: Journal of Accounting and Economics Conference. Stanford University Accounting Summer Camp. Review of Accounting Studies Conference. Colorado Summer Accounting Research Conference. Journal of Accounting, Auditing and Finance Conference. The Utah Winter Accounting Conference. CARE Conference. Contemporary Accounting Research Conference. Stanford GSB’s Causality in the Social Sciences Conference. University of Minnesota’s Empirical Conference in Accounting. American Accounting Association Annual Meetings. Midyear Meetings of the American Accounting Association’s Financial Accounting and Reporting Section. Chinese Accounting Professors’ Association of North America Conference. AAA/Deloitte Trueblood Seminar for Professors. New Faculty Consortium of the American Accounting Association. Deloitte&Touche/J. Michael Cook Doctoral Consortium

 

* denotes an invitation for a talk

 

 

 

Selected Papers and Publications

· Inflation and Nominal Financial Reporting: Implications for Performance and Stock Prices.2011 (Solo-authored. Volume 86, Issue 3, pp. 1045-1085. DOI)

The Accounting Review

 

· Cost of Capital and Earnings Transparency. 2013 (With Barth and Landsman. Volume 55, Issue 2-3, pp. 206-224. DOI).  Winner of the American Accounting Association’s Best Paper Award (More   More)

Journal of Accounting and Economics

 

· Capital Markets Valuation and Accounting Performance of Most Admired Knowledge Enterprise (MAKE) Award Winners.2013 (With DeFond, McMullin, O'Leary. Volume 56, pp. 348-360. DOI)

Decision Support Systems

 

· Accounting Earnings and Gross Domestic Product.2014 (With Patatoukas. Volume 57, Issue 1, pp. 76-88. DOI)

Journal of Accounting and Economics

 

· Accounting and the Macroeconomy: The Case of Aggregate Price-Level Effects on Individual Stocks.2013 (Solo-authored. Volume 69, Issue 6, pp. 40-54. DOI)  Journal’s Featured Invited Author Interview:   Listen    Read

Financial Analysts Journal

 

· Accounting-Based Downside Risk, Cost of Capital, and the Macroeconomy. 2016 (With Luo, Ma, Wu. Volume 21, Issue 1, pp. 1-36. DOI)

Review of Accounting Studies

 

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