Craig Chapman
Craig Chapman

Assistant Professor of Accounting Information & Management

Print Overview

Craig Chapman is an Assistant Professor in the Accounting Information and Management department, Larry Revsine Research Fellow and a Zell Center Faculty Fellow. His primary research interests are related to the bias and accuracy of financial forecasts, risk allocation and the role of real options in large scale projects and the use of real actions to manage earnings – specifically the use of promotions to change the timing of income.

Prior to joining the Kellogg School faculty, he was the General Manager of an electric power generating company in the People’s Republic of China. He also worked on large scale project and structured financings in Europe and Asia with Bank of America, Banque Nationale de Paris and Midland Bank based in London and Hong Kong.

Chapman teaches core financial accounting. He received his DBA in Accounting and Management from Harvard University; his MBA with high distinction (Baker Scholar) from the Harvard Business School; and MA and BA degrees in Mathematics from the University of Oxford.

Areas of Expertise
Financial Accounting
Financial Analysts
Managerial Accounting
Risk Management

Print Vita
DBA, 2008, Accounting, Management, Harvard Business School, Harvard University
MBA, 2003, Harvard Business School, Harvard University, George F. Baker Scholar, High Distinction
MA, 1995, Mathematics, Magdalen College, University of Oxford
BA, 1989, Mathematics, Magdalen College, University of Oxford, Honors

Academic Positions
Assistant Professor of Accounting Information & Management, Kellogg School of Management, Northwestern University, 2009-present
Tutorial Leader, Economics, Harvard Business School, 2007-2007
Teaching Assistant, Executive Education, Harvard Business School, 2006-2007
Head Teaching Fellow, Pre-MBA Analytics Program, Harvard Business School, Harvard University, 2005-2007
Teaching Assistant, Harvard Business School, Harvard University, 2004-2007

Other Professional Experience
Vice President – Project Finance, BANK OF AMERICA, 1994-1997
Vice President and General Manager, SITHE ENERGIES - INDEPENDENT POWER PRODUCER, 1997-2001
Corporate Banking Officer – Commercial Banking, MIDLAND / SAMUEL MONTAGU, 1989-1992
Corporate Banking Officer – Project Finance, BANQUE NATIONALE DE PARIS, 1992-1994

Grants and Awards
Chairs’ Core Course Teaching Award, Kellogg School of Management, 2010-2011
Larry Revsine Research Fellow, Kellogg School of Management, 2010-2011
Zell Center Faculty Fellow, Zell Center, Kellogg School of Management, 2009-2010

Editorial Positions
Editorial Board, El-Khazindar Business Research and Case Center, The American University in Cairo, 2009

Print Research
Research Interests
Real earnings management, analyst forecasts, risk allocation

Chapman, Craig and Thomas Steenburgh. 2011. An Investigation of Earnings Management Through Marketing Actions. Management Science. 57(1): 72-92.
Chapman, Craig, Paul Healy and Boris Groysberg. 2008. Buy-Side vs. Sell-Side Analysts’ Earnings Forecasts. Financial Analysts Journal. 64(4): 25-39.
Working Papers
Chapman, Craig. Competition and Real Earnings Management.
Chapman, Craig. The Effects of Real Earnings Management on the Firm, Its Competitors and Subsequent Reporting Periods.
Chapman, Craig and James Naughton. Do a firm’s equity returns (still) reflect the risk of its Pension Plan.
Chapman, Craig, Michael Ahearne, Jeffrey Boichuk and Thomas Steenburgh. Real Earnings Management in Sales, the Interaction with Finance and Appearance in Financial Reports.
Chapman, Craig. 2010. Jimmy Fu and Moog, Inc.: Understanding Shareholder's Equity. Boston, MA: Harvard Business Publishing.
Chapman, Craig, Sharon M Bruns, William E Bruns and Susan Harmeling. 2008. Teaching Note for Merrimack Tractors and Mowers, Inc.: LIFO or FIFO. Boston: Harvard Business Publishing.
Chapman, Craig. 2009. Biovail Corporation’s Truck Accident: Revenue Recognition and FOB Sales Accounting. Boston, MA: Harvard Business Publishing.
Chapman, Craig. 2010. Teaching Note for Jimmy Fu and Moog, Inc.: Understanding Shareholder's Equity. Boston, MA: Harvard Business Publishing.
Chapman, Craig. 2009. Teaching Note for Biovail Corporation’s Truck Accident: Revenue Recognition and FOB Sales Accounting. Boston, MA: Harvard Business Publishing.
Chapman, Craig. 2011. Dragon Soup and Earnings Management (B). Case 5-211-251(B) (KEL575).
Chapman, Craig. 2011. Dragon Soup and Earnings Management (A). Case 5-211-251(A) (KEL574).

Print Teaching
Full-Time / Part-Time MBA
Accounting For Decision Making (ACCT-430-0)

This course counts toward the following majors: Accounting.

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.

Financial Reporting and Analysis (ACCT-451-0)

This course counts toward the following majors: Accounting

This course provides a study of current practices in corporate financial reporting and fundamental issues relating to asset valuation and income determination. The emphasis is on financial statement analysis and interpretation of existing financial disclosures. The course stresses critical analyses of financial reporting numbers as a basis for improved risk assessment and cash flow forecasting. Cases are used extensively to enhance relevance.