Henry Friedman

Henry Friedman is an associate professor of accounting. His research relates broadly to how information is produced and used in firms and capital markets. Using theoretical models and archival data, he studies issues involving corporate governance, regulation, disclosure, lobbying, investor preferences for corporate social responsibility, audit quality and non-audit services, reference rate reform, executive compensation, entrepreneurship and common ownership. His research has been published widely in accounting, finance and management journals.

At UCLA Anderson, Friedman teaches introductory financial accounting and runs an online pre-term course to help entering students prepare for their first-year accounting class. Friedman previously taught at Wharton (core managerial accounting) and MIT (core financial accounting).

Courses

• Financial Accounting

Education

• Ph.D. Accounting 2012, University of Pennsylvania
• M.A. Accounting 2012, University of Pennsylvania
• B.S. Economics 2007, University of Pennsylvania
• B.S. Materials Science and Engineering 2007, University of Pennsylvania

Publications and Accepted Papers

1. Friedman, H., and L. Mahieux, 2021, “How Is the Audit Market Affected by Characteristics of the Nonaudit Services Market?” Journal of Accounting Research.
2. Friedman, H., J. Hughes, and B. Michaeli, 2021, “A rationale for imperfect reporting standards,” Management Science.
3. Ma, L., T. Ma, and H. Friedman, 2021, “Financial reporting and noise in stock returns: Evidence from Chinese A-B twin shares,” Journal of Financial Reporting.
4. Friedman, H., J. Hughes, and B. Michaeli, 2020, “Optimal reporting when additional information might arrive,” Journal of Accounting and Economics 69(2-3).
5. Friedman, H., 2020, “Investor Preference for Director Characteristics: Portfolio Choice with Gender Bias,” The Accounting Review 95(5): 117-147.
6. Friedman, H. and M. Heinle, 2020, “Influence activities, coalitions, and uniform policies: Implications for the regulation of financial institutions,” Management Science 66(9): 4336-4358.
7. Friedman, H., 2019, “Capital market development and confidence in disclosure quality,” Journal of Financial Reporting 4(1):59-92.
8. Bushee, B. and H. Friedman, 2016, “Disclosure standards and the sensitivity of returns to mood,” Review of Financial Studies 29(3): 787-822.
9. Friedman, H. and M. Heinle, 2016, “Lobbying and uniform disclosure regulation,” Journal of Accounting Research 54(3): 863-893.
10. Friedman, H., 2016, “Implications of a multi-purpose reporting system on CEO and CFO incentives and risk preferences,” Journal of Management Accounting Research 28(3): 101-132.
11. Friedman, H. and M. Heinle, 2016, “Taste, information, and asset prices: Implications for the valuation of CSR,” Review of Accounting Studies 21(3): 740-767.
12. Friedman, H., J. Hughes, and R. Saouma, 2016, “Implications of biased reporting: conservative and liberal accounting policies in oligopolies,” Review of Accounting Studies 21(1): 251-279.
13. Friedman, H., 2014, “Implications of power: When the CEO can pressure the CFO to bias reports,” Journal of Accounting and Economics 58(1): 117-141. Winner of the 2013 AAA Competitive Manuscript Award.
14. Cassar, G. and H. Friedman, 2009, “Does self-efficacy affect entrepreneurial investment?” Strategic Entrepreneurship Journal 3:241-260.