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Accounting Information and Management Department

Real Estate Program

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Thomas Z. Lys

Eric L. Kohler Chair in Accounting
Professor of Accounting Information and Management, Professor of Law (courtesy appointment) Northwestern School of Law

Accounting Information and Management

Ph.D Graduate School of Management, University of Rochester, 1982 (Accounting and Finance),
lic.rer.pol. University of Bern, Switzerland, 1976 (Economics & Operations Research, summa cum laude)

 
Academic Positions Held
 

Kellogg School of Management, Northwestern University
Eric L. Kohler Chair in Accounting and Professor of Accounting Information and Management
Gary A. Rosenberg Distinguished Associate Professor of Real Estate Management and Professor of Accounting Information and Management, and Director, Guthrie Center for Real Estate Research (1997-1999),
John L. and Helen Kellogg Distinguished Associate Professor of Accounting Information and Management (1995-1997),
Associate Professor of Accounting Information and Management (1989-95),
Assistant Professor of Accounting Information and Management (1982-89).

Northwestern School of Law, Northwestern University
Professor of Law (courtesy appointment) (2000- )

Graduate School of Business, Stanford University
Visiting Associate Professor of Accounting (1997)

Graduate School of Business, University of Chicago
Visiting Assistant Professor of Accounting (1986-1987).

   
Courses / Topics Taught
  MBA Level: Financial Accounting; Security Price Analysis; Financial Statement Analysis; Mergers and
Acquisitions; Executive MBA Level: Financial Accounting; Security Price Analysis; Mergers and Acquisitions.
Lecture capabilities in English, French, German and Polish.
   
Career and Recent Professional Awards; Teaching Awards
 

Outstanding Professor award for Electives - EMP 46, 1999-2000
Outstanding Professor Award 1998-2000
Sidney J. Levy Teacher Award 1998-1999 and 2001-2002.
Sidney J. Levy Teaching Award, Master of Management Program
Outstanding Professor Award, Executive Masters’ Program (1998, 1997,1996)
Peat Marwick and Mitchell Research Grant (1987), Beatrice Foods Research Chair (1984-85),
Ernst & Whinney Research Fellow (1983-84), Beta Gamma Sigma.

   
Professional Leadership
  Editor, Journal of Accounting and Economics, 2000-Present
Associate Editor, Journal of Accounting and Economics, 1988-1999, Editorial Board, The Accounting Review (1986-89),
Selection Committee, State Farm Companies Foundation Business Doctoral Dissertation Awards (1996-present).
   
Research Areas
  Analyst earnings forecasts and stock valuations; Efficiency of analysts' earnings forecasts; Implications of tax laws for the optimal structure of two-tier merger offers; The stock price behavior following earnings announcements; Properties of estimators of auto-correlation coefficients.
   
Current Projects
  Determinants and implications of the serial-correlation in analysts' earnings forecast errors (with John Jacob). Auto-correlation tests with short time-series: inference problems and proposed solutions (with Jowell S. Sabino and John Jacob).

Tests of model selection: recognition and aggregation of information in earnings: an evaluation of alternative research approaches (with Patricia Dechow and Jowell Sabino).

Is managers' private information evident in corporate financing choices? An examination of security issuances in the banking industry (with Marguerite Bishop).

Optimal structure of tender offers (with Thomas Fields).

   
Representative Publications
  A Note on Analysts’ Earnings Forecast Errors Distribution 2004, (with Daniel A. Cohen), Journal of Accounting and Economics, Volume 36 (1-3)

The internet downturn: finding valuation factors in spring 2000, (with Elizabeth K. Keating and Robert P. Magee), Journal of Accounting and Economics, Volume 34 (1-3) (January 203) 189-236.

The effect of accounting information on corporate financing choices: an examination of security issuances in the banking industry (with Marguerite Bishop), Contemporary Accounting Review 18 (3) (Fall 2001) 397-423.

Empirical research on accounting choices (with Thomas Fields and Linda Vincent), Journal of Accounting and Economics 31 (1-3) (September 2001) pp. 255-307.

The Ohlson model, contribution to valuation theory, limitations, and empirical applications (with Kin Lo), Journal of Accounting, Auditing, and Finance, (Summer 2000), (forthcoming).

Auto-correlation structure of forecast errors from time-series models: Implications for post-earnings announcement drift studies (jointly with John Jacob and Jowell Sabino), Journal of Accounting and Economics (forthcoming).

Use of R2 in accounting research: measuring changes in value relevance over the last four decades (with Stephen Brown and Kin Lo), Journal of Accounting and Economics 28 (2) (December 1999), 83-115.

Expertise in forecasting performance of security analysts (with John Jacob and Margaret Neale), Journal of Accounting and Economics 28 (1) (November 1999), 51_82.

   
General / Consulting
  USX Corporation
UNR Corporation
Beckman Instruments, Inc.
US Robotics
G. E. Capital
Baker & McKenzie
Cox Communication
  last modified 08/16/2005
©2001 Kellogg School of Management, Northwestern University