Jacob Thomas

PROFESSOR THOMAS FOCUSES ON THE RELATION between accounting information and stock prices. Insights recently developed in this area that suggest fundamental links between accounting numbers and value form the basis of much of his recent teaching and research. He was actively involved in developing the core curriculum and has written cases and other teaching material for the courses he teaches on equity valuation and financial management. Differences between stock prices and fundamental value provide the basis for his examination of various stock trading strategies. Before joining the faculty at the Yale School of Management, he was the Ernst & Young Professor of Accounting and Finance at Columbia Business School.

Professor Thomas focuses on the relation between accounting information and stock prices. Insights recently developed in this area that suggest fundamental links between accounting numbers and value form the basis of much of his recent teaching and research. He was actively involved in developing the core curriculum and has written cases and other teaching material for the courses he teaches on equity valuation and financial management. Differences between stock prices and fundamental value provide the basis for his examination of various stock trading strategies. Before joining the faculty at the Yale School of Management, he was the Ernst & Young Professor of Accounting and Finance at Columbia Business School.

EDUCATION

• PhD , University of Michigan, 1984
• MBA , ICMS, 1977
• B. Tech , IIT, 1974

ACHIEVEMENTS

• Distinguished Alumni Speaker , Rackham Centennial, 2012
• Research Prize , Chazen International, 2002
• Finalist, Smith Breeden Prize , American Finance Association, 2001
• First Prize , IBES Competition for International Valuation Research, 1999
• Dean''s Award for Teaching Excellence , Columbia Business School, 1995
• AICPA Notable Contributions to Accounting Literature Award , 1993
• Deloitte Haskins and Sells Doctoral Fellow , 1982-1984

SELECTED ARTICLES

• Management of reported and forecast EPS, investor responses, and research implications F. Cheong and J. Thomas Management Science 2017 (forthcoming)
• Placebo tests of conditional conservatism P. Patatoukas and J. Thomas Review of Accounting Studies. 2016
• Spring-loading when no one is looking? Earnings and cash flow management around acquisition F. Zhang, S. Chen, and J. Thomas Review of Accounting Studies 2016
• Non-executive employee ownership and corporate risk-taking F. Zhang, F. Bova, K. Kolev, and J. Thomas The Accounting Review 2015
• Valuation of Tax Expense J. Thomas and F. Zhang Review of Accounting Studies 2014

SELECTED WORKING PAPERS

• Do average costs decline as firms grow? A. Ertan, S. Lewellen, and J. Thomas 2016