Daniel Aobdia
Daniel Aobdia

Associate Professor of Accounting Information & Management

Print Overview

Daniel Aobdia, Ph.D., is an associate professor in the Accounting Information and Management Department at the Kellogg School of Management, Northwestern University, where he most recently taught the core financial accounting course to MBA students. He was also, between September 2014 and September 2016, a senior economic research fellow in the Center for Economic Analysis at the Public Company Accounting Oversight Board (PCAOB).

Aobdia's research interests span empirical accounting and economics. His primary focus is using auditing as a setting to answer broad economic questions, such as the impact of regulation, the role of information spillovers, and the influence of labor and non-labor inputs in organizations, including the role of high-skilled immigration, culture and tools. Another focus is studying the effects of disclosure on the functioning of capital and product markets.

Earlier in his career, Aobdia worked in the investment banking division at Morgan Stanley in Los Angeles and at a boutique strategy consulting firm, Mars and Company, in Tokyo, Japan. He received a B.S. from the Ecole Polytechnique in France, an M.S. from Stanford University and an MBA and Ph.D. from the UCLA Anderson School of Management.


Areas of Expertise
Financial Accounting
Financial Disclosure/Statements
Mergers and Acquisitions

Print Vita
Ph.D, 2012, Management (Accounting), Anderson School of Management, University of California, Los Angeles
M.B.A., 2008, Management, Anderson School of Management, University of California, Los Angeles
M.S. (Diplôme d’ingénieur), 2002, Engineering, Ecole Nationale des Ponts et Chaussées
M.S., 2002, Management Science and Engineering, Stanford University
B.S. (Diplôme d’ingénieur), 1999, Math and Physics, Ecole Polytechnique

Academic Positions
Associate Professor, Kellogg School of Management, Northwestern University, 2017-present
Senior Economic Research Fellow, Center for Economic Analysis, Public Company Accounting Oversight Board (PCAOB), 2014-2016
Assistant Professor, Donald P. Jacobs Scholar, Kellogg School of Management, Northwestern University, 2012-2017
Teaching Assistant: Financial Statement Analysis, Corporate Financial Reporting, Corporate Finance, Financial Accounting, UCLA Anderson School of Management, MBA program, 2007-2012

Other Professional Experience
Associate, Investment Banking, Morgan Stanley, 2008-2009
Summer Associate, Investment Banking, Morgan Stanley, 2007-2007
Strategy Consultant, Mars and Company (a spinoff of BCG), 2002-2006
Project Manager, L’Oréal Japan, 2000-2001

Honors and Awards
FARS Excellence in Reviewing Award, Financial Accounting and Reporting Section of the American Accounting Association, 2015-2016
Best Midyear Meeting Paper AAA Auditing Section Midyear Meeting, American Accounting Association
Lawrence Revsine Research Fellowship, 2014-
Ernst & Young Research fellowship, 2012-2014
Deloitte Foundation Doctoral Fellowship
UCLA Fellowship, UCLA Anderson Fellowship for Doctoral Studies and Summer Doctoral Fellows Program, 2009-2011
LH Penney Accounting Award: in recognition of accounting academic excellence, awarded to one MBA student at UCLA Anderson each year, 2008
Carter Award:granted to the top 2% of the MBA class at UCLA Anderson, 2008
Weston Award, in recognition of finance academic excellence during the MBA program at UCLA Anderson, 2008
President of the Investment Finance Club at UCLA Anderson, 2007-2008
UCLA Anderson Student Investment Fund Fellow, 2007-2008
Exceptional International Student Fellowship, UCLA Anderson School of Management, 2007
Faculty Scholar, UCLA Anderson School of Management, 2007
UCLA Anderson Fellowship, UCLA Anderson School of Management, 2006

Print Research
Research Interests

Auditing, Disclosure, Regulation, Labor inputs, Immigration, Culture, Information Spillovers

Aobdia, Daniel and Nemit Shroff. 2017. Regulatory Oversight and Auditor Market Share. Journal of Accounting and Economics. 63(2-3): 262–287.
Aobdia, Daniel. Forthcoming. The impact of the PCAOB individual engagement inspection process - Preliminary evidence. The Accounting Review.
Aobdia, Daniel, Chan-Jane Lin and Reining Petacchi. 2015. Capital Market Consequences of Audit Partner Quality. Accounting Review. 90(6): 2143-2176.
Srivastava, Anup, Daniel Aobdia and Erqiu Wang. Forthcoming. Are Immigrants Complements or Substitutes? Evidence from the Audit Industry. Management Science.
Aobdia, Daniel and Lin Cheng. Forthcoming. Unionization, Product Market Competition and Strategic Disclosure. Journal of Accounting and Economics.
Aobdia, Daniel. Forthcoming. Non-Compete Agreements and Company Disclosure. Review of Accounting Studies.
Aobdia, Daniel. 2015. Proprietary Information Spillovers and Supplier Choice: Evidence from Auditors. Review of Accounting Studies. 20(4): 1504-1549.
Aobdia, Daniel, Judson Caskey and N Bugra Ozel. 2014. Inter-Industry Network Structure, Information Transfer, and the Cross-Predictability of Earnings and Stock Returns. Review of Accounting Studies. 19(3): 1191-1224.
Working Papers
Aobdia, Daniel and Reining Petacchi. 2017. Consequences of low-quality audits for engagement partners.
Aobdia, Daniel and Anup Srivastava. 2018. Do U.S. Corporations Hire U.S. Educated Skilled Immigrants to Lower their Labor Costs? Evidence from the Audit Industry.
Aobdia, Daniel, Reining Petacchi and Allison Koester. 2018. Corporate subsidies and political contributions: State-level evidence.
Aobdia, Daniel, Preeti Choudhary and Gil Sadka. 2018. Do auditors correctly identify and assess internal control deficiencies? Evidence from the PCAOB data.
Aobdia, Daniel, Saad Siddiqui and Andres Vinelli. 2017. Does engagement partner expertise matter? Evidence from the U.S. operations of the Big 4 audit firms.
Aobdia, Daniel. 2017. Does the Organization and Culture of the Largest Audit Firms Influence their audit Quality and Efficiency?.
Aobdia, Daniel. 2018. The Validity of Publicly Available Measures of Audit Quality. Evidence from the PCAOB Inspection Data.
Aobdia, Daniel, Anup Srivastava and Luminita Enache. 2017. Is the Auditing Industry Becoming a Tighter or Looser Oligopoly?.
Aobdia, Daniel and Judson Caskey. 2014. Underwater shares and benchmark beating.
Aobdia, Daniel and Judson Caskey. 2012. Investor Cost Basis and Takeover Bids.

Print Teaching
Teaching Interests

Financial Accounting, Financial Statements Analysis

Full-Time / Evening & Weekend MBA
Accounting For Decision Making (ACCT-430-0)
This course acquaints students with the process used to construct and understand the financial reports of organizations. The objective is to understand the decisions that must be made in the financial reporting process and to develop the ability to evaluate and use accounting data. Emphasis is placed on understanding the breadth of accounting measurement practices and on being able to make the adjustments necessary for careful analysis. The course highlights the linkages between accounting information and management planning, and decision making and control. Course sections that end in "H" will be taught in a format that combines the convenience and flexibility of online learning with the social and instructional benefits of face-to-face classroom experiences. Online sessions are conducted synchronously with classmates and faculty.

Prior to beginning ACCT 430, students are required to complete a prep course based on their specific academic program.

Evening and Weekend Students are required to complete this Accounting Essentials Prep Course

1Y and MMM students are required to complete this Accounting Essentials Prep Course

2Y students are required to complete this Accounting Essentials Prep Course