Professor Yaniv Konchitchki (at UC Berkeley since 2011) Tenured 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@berkeley.edu
	PERSONAL:  IN MEMORY

 

 

BACKGROUND AND RESEARCH SUMMARY

Professor Konchitchki is an award-winning expert in monetary economics, macroeconomic forecasting, inflation & economic growth, capital markets & corporate financial reporting, Fintech, and AI/alternative data investing.

 

As a Professional Macro Forecaster for the U.S. Federal Reserve, the Founder & Faculty Director of the Berkeley Fintech Program, and a founding father of Macro-Accounting---which identifies interdisciplinary links between macroeconomics, capital markets, and corporate financial reporting---he conducts research on real-world matters such as monetary economics, inflation, GDP, Fed's policy, inequality, stock prices, & interest rates.

 

His specialization in capital markets includes developing investment algorithms and helping companies with business plans & raising capital. Also, he developed various real-world tools and is actively engaging in identifying stock- & macro-level movements as well as improving forecasts for the Fed.

 

He is a full-time tenured associate professor at UC Berkeley’s Haas School of Business. His PhD is from Stanford’s Graduate School of Business, and he also holds a CPA license and an MSc from Stanford’s Statistics. He also worked years as a Senior Economist, as well as a CPA and Senior Financial Analysis Expert for PwC.

 

He has vast experience in academia and industry, including in macroeconomic forecasting & policy making, financial reporting & analysis, economic modeling, programming, developing investment algorithms, audit, litigation, and Fintech. He currently conducts pioneering research on financial-based solutions to real-world problems---benefiting macroeconomics, finance, accounting, and related disciplines.

 

He is widely recognized via awards/honors, e.g., World’s Top 40 Under 40, Favorite MBA Professors, Notable Contributions to Literature Award, American Accounting Association’s Best Paper Award, Bakar, Hellman, & Schwabacher Fellowships for Distinguished Research Excellence, Cheit Awards, Learning Innovation Award, Stanford's Jaedicke Merit Award for Outstanding Academic Achievements, etc.

 

He publishes in top-tier academic & professional journals, and he is a frequent presenter at top academic & investment institutions, technology & litigation companies, hedge funds, VCs, & national security intelligence forums (e.g., U.S. Cyber Command).

 

He advises global executives on strategy, innovation, corporate financial & risk matters, and how macroeconomic changes affect their firms (e.g., inflation/interest rate risks; cash flow sensitivities).

 

More at: https://haas.berkeley.edu/faculty/konchitchki-yaniv

 

 

 

PROFESSIONAL EXPERIENCE

· University of California at Berkeley, Haas School of Business. Berkeley, CA, 2011-present

Tenured Associate Professor

×        Founder and Faculty Director, Berkeley Fintech Program

×        Schwabacher Fellow, Hellman Fellow, & Bakar Faculty Fellow for Distinguished Research Excellence

×        Lead Fintech Researcher, Wells Fargo Lab for Banking & Financial Services

×        Faculty Director, Center for Financial Reporting & Management

×        PhD Program Advisor

Assistant Professor

 

· U.S. Federal Reserve System. Federal Reserve Bank of Philadelphia. Philadelphia, PA, 2021-present

Appointed as a Professional Macro Forecaster

×        Responsible for preparing long- and short-term forecasts of various macroeconomic metrics (e.g., inflation, real/nominal GDP) while monitoring and assessing the current economic state in real time

×        My forecasts are shown to be systematically superior to consensus forecasts from banks’ research departments (such as Morgan Stanley, J.P. Morgan Chase, Wells Fargo, and Goldman Sachs) and brokerage houses/economic research institutions (such as Moody’s Analytics)

×        My predictive models are automated such that, at the daily level, they crawl and analyze big datasets of all available public information filed by U.S. corporations

×        See, e.g., Q1:2023 Fed’s survey forecasters; Q2:2022, FullReport

 

· University of Southern California, Marshall School of Business. Los Angeles, CA, 2007-2011

Assistant Professor

 

· Stanford University, Graduate School of Business. Stanford, CA, 2002-2007

Research Assistant and Doctoral Student

 

· CPA and Senior Financial Consultant. PricewaterhouseCoopers (PwC). 2000-2002

Tasks: Auditor and CPA for private and public companies; Preparation and analysis of financial statements; Economist and Valuation Expert for high-tech and industrial firms in PwC’s FAS (Financial Advisory Services) practice; Regulation analysis of antitrust cases; Due diligence; Writing business plans

 

 

 

SELECTED EDUCATION

PhD in Business Administration (Stanford University, GSB, 2007). MSc in Statistics (Stanford University, Statistics Department, 2004). CPA (Certified Public Accountant, 2002)

×        Dissertation Chair: Prof. Mary Barth

×        Dissertation on Macro-Accounting (inflation)

×        Jaedicke Merit Award for Outstanding Academic Performance at Stanford’s PhD Program

 

 

 

RESEARCH INTERESTS

· Financial-based Solutions to Real-World Problems (e.g., monetary policy and interest determination; inflation; GDP growth; inequality; systematic errors at Federal Reserve’s communications and decisions)

 

· A Founder of a New Interdisciplinary Research Field: Macro-Accounting (e.g., overall price levels; economic fluctuations & growth including recessions and GDP; monetary policy; import tariff taxes; interest/discount rates; real estate; national accounting; inequality)

 

· Capital markets research, focusing on economic links between firms’ financial reporting and analysis, security valuation, and the macroeconomy

 

· Fintech, AI/Alternative Data Investment Algorithms, Technology/Information Systems, & Financial Innovation

 

 

 

EXPERTISE

· Monetary Policy, Macroeconomics, Inflation, GDP, Capital Markets

 

· Forecasting Firm, Industry, and Macroeconomic Performance

 

· Links between Macroeconomics, Firm’s Financial Data, Corporate Valuation, and Capital Markets

 

· Quantitative Programming (in various languages, including for analyses of big databases, econometric estimation, and statistical inference)

 

· Preparing Short- and Long-Term Economic Forecasts for the Fed (e.g., Inflation, Real/Nominal GDP)

 

· Macroeconomic Analyses including Monetary Policies, Import Tariff Taxes, Corporate Sector Performance, Real Estate, Inflation Measurement, Inequality, Interest Rates

 

· Auditing, Budget Building, and Related Decision Making

 

· Financial Reporting, Managerial Accounting, Audit & Corporate Finance (e.g., U.S. GAAP, securities matters, IPO/SPAC reporting and registration, IFRS, financial statement analysis, valuation and market efficiency/inefficiency, reporting and regulatory filings/delays/misstatements, cost of capital, financial-based decision making, event study analyses)

 

· Effects of Regulations on Company’s Stocks and Operating Performance

 

· Financial Technology (Fintech)

 

· Advisor and instructor for executives and companies.  Held a number of senior managerial positions

 

 

 

SELECTED PUBLISHED AND WORKING PAPERS

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

The Accounting Review

 

 

· “Cost of Capital and Earnings Transparency.” 2013 (With Barth and Landsman. Vol 55, Issue 2-3, pp. 206-224. DOI)

Journal of Accounting and Economics

[Awarded the BEST PAPER AWARD of the American Accounting Association (More   More)]

 

 

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

Decision Support Systems

 

 

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

Journal of Accounting and Economics

[Awarded the NOTABLE CONTRIBUTIONS TO ACCOUNTING LITERATURE AWARD of the American Accounting Association and the American Institute of Certified Public Accountants]

 

 

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

Financial Analysts Journal

 

 

· “Taking the Pulse of the Real Economy Using Financial Statement Analysis: Implications for Macro Forecasting and Stock Valuation.” 2014 (With Patatoukas. Vol 89, Issue 2, pp. 669-694. DOI).

The Accounting Review

[Awarded the NOTABLE CONTRIBUTIONS TO ACCOUNTING LITERATURE AWARD of the American Accounting Association and the American Institute of Certified Public Accountants]

 

 

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

Review of Accounting Studies

 

 

· “SEC Filings, Regulatory Deadlines, and Capital Market Consequences.” 2017 (With Bartov. Vol 31, Issue 4, pp. 109-131. DOI)

Accounting Horizons

 

 

· “Interest Rate Volatility, the Yield Curve, and the Macroeconomy.” 2018 (With Joslin. Vol 128, Issue 2, pp. 344-362. DOI)

Journal of Financial Economics

 

 

· “Undisclosed Material Inflation Risk.” 2023 (with Xie. DOI)

Journal of Monetary Economics

 

 

· “Predictable Errors in Monetary Policy Communications and Decisions.” 2023 (with Moore and Zhang)

 

 

 

INVITED SPEAKER PRESENTATIONS

· 2020-2023: Yale University. Federal Reserve Bank of Cleveland. Hong Kong University Business School: Finance Forum 2023. Cornerstone Research. Final Hedge Fund*. Hebrew University. Google/Alphabet Research Series. UC Berkeley (three presentations). George Washington University*. J.P. Morgan Chase Research Seminar. INSEAD. Japan Accounting Association/Tokyo Keizai University. Barak Capital*. Final Hedge Fund*. University of Texas at Dallas

 

· 2016-2019: Federal Reserve Bank of San Francisco. Northwestern University. Wharton (accounting research conference). BlackRock. UC Berkeley’s Haas. USC. LBS. Arizona State University*. MIT. IDC (summer finance conference). UNC. U. Washington. U. Sydney. IDC (finance/accounting). Wharton (second presentation that period). Stanford University*. UC Berkeley’s Center for Risk Management Research. AQR*. U.S. Army Cyber Command Counter-Terrorism Task Force. UCSD. George Washington University (conference)*. Naval Postgraduate School. J.P. Morgan Chase Research Seminar. Hitotsubashi University (Tokyo)*. Tokyo Keizai University*. CUHK*. HKUST*. Tel Aviv University (finance/accounting). Google/Alphabet Research Series. U. Toronto. CAPANA*. Tel Aviv University (international accounting conference). Carnegie Mellon University*

 

· 2012-2015: Columbia University. BlackRock. UCLA. LBS. Bocconi 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. UC Berkeley (all-faculty seminar). Penn State*. Santa Clara University. China Securities Regulatory Commission. USC

 

· 2007-2011: Stanford University. New York University. USC. Barclays Global Investors. UNC. Georgetown University. University of Toronto. UC Berkeley. Tel Aviv University. The Ono College. California Polytechnic State University. Alternative Asset Summit for Hedge Funds, Pension Funds, and Institutional Investors. Columbia University. U. Miami. Rice University. Stanford University (all-faculty seminar). U. Minnesota

 

· Other, presentations and/or invited/regular participation, including multiple times: National Bureau of Economic Research’s (NBER) Programs on Economic Fluctuations and Growth; 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

 

 

HONORS AND ACHIEVEMENTS

· National:

Notable Contributions to Accounting Literature Award, of the American Accounting Association and the American Institute of Certified Public Accountants

“Award given…to published research work which has withstood a rigorous process of screening and scrutiny based on certain criteria, such as uniqueness and potential magnitude of contribution to accounting education, practice and/or future accounting research, breadth of potential interest, originality and innovative content, clarity and organization of exposition and soundness and appropriateness of methodology.”

 

BEST PAPER AWARD, of the American Accounting Association (More   More)

“This annual award honors the paper that best reflects the tradition of academic scholarship in financial accounting and explores research that is relevant to problems facing the accounting profession and standard-setters.”

 

· Berkeley:

Schwabacher Fellow. “The Executive Committee voted this honor on the basis of ‘outstanding research, exceptional departmental service, unusual scholarly growth, or some combination thereof.”

 

Barbara and Gerson Bakar Faculty Fellow. “A most positive signal for the years to come, the fellowship honors Haas faculty members with a record of accomplishment and a very bright future.”

 

Earl F. Cheit Award for Distinguished Excellence in Teaching & Distinguished Teaching Fellow (awarded more than once; for teaching core MBA courses on financial accounting and reporting). “Highest teaching award bestowed annually upon instructors at Berkeley Haas.”

 

Hellman Fellow Fund Award for Distinguished Excellence in Research. Selected across UC Berkeley as a “Most Promising Assistant Professor.”

 

Club Six Member, for Teaching Excellence in Core MBA (in several teaching years at Haas).

 

· International:

Favorite MBA Professors of the Class of 2021. Poets&Quants; Yahoo Finance

 

World’s Top 40 Under 40. Featured at: Berkeley Haas,   P&Q,   Fortune. Poets&Quants

 

· Stanford:

Jaedicke Merit Award for Outstanding Academic Performance at Stanford’s PhD Program

 

Doctoral Fellowships (each year in the PhD program)

 

· Other:

Evan C. Thompson Teaching & Learning Innovation Award, for Core MBA Teaching Excellence; Columbia University’s Research Grant (Center for International Business Education and Research); Special Program for Outstanding Students (Joint BA &MA, fully-funded for academic excellence); School of Economics’ Annual Research Prize;  Various awards for excellence, including full tuition scholarships and stipends for all academic studies; Magna Cum Laude (2002)

 

 

 

 

Professional

 Services

 And

 Memberships

 

Published

Books

 and

Discussions

 

Other

 Professional Experience

 

 

 

Website under construction…it will be completed soon

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

https://www.blackdiamondresearchlabs.com

https://www.blackdiamondresearchlabs.com/about.html

https://www.blackdiamondresearchlabs.com/experts.html

https://www.blackdiamondresearchlabs.com/contact.html

https://www.blackdiamondresearchlabs.com/index.html

 

 

New Research!

http://faculty.haas.berkeley.edu/yaniv/newresearch.html

http://faculty.haas.berkeley.edu/yaniv/newresearch_inflation.html

http://faculty.haas.berkeley.edu/yaniv/newresearchpaper_inflation.html

http://faculty.haas.berkeley.edu/yaniv/newresearchpaper.html