Print Overview
Tjomme Rusticus is an Assistant Professor in Accounting Information and Management. He earned his undergraduate degree at the University of Groningen in the Netherlands, and his Doctorate in Accounting from The Wharton School, University of Pennsylvania. His research focuses on corporate governance and executive compensation. His current research interests are in the area of executive severance agreements and equity based compensation. He also studies the effect of transaction costs on the efficiency with which accounting information gets incorporated in stock prices. Professor Rusticus teaches Managerial Accounting.
  • Recent Media Coverage

    Economist Intelligence Unit: Executive Briefing: Explaining stock price drift

    Markets Media Magazine: Explaining Stock Price Drift

    MSN Money: CEO Severance Pay: Why Losers Often Win Big

    Forbes: Super-Size That Severance!

    See all Kellogg in the Media
Print Vita
PhD, 2006, Accounting, The Warton School, University of Pennsylvania
MA, 2001, Business Economics, University of Groningen, The Netherlands, Cum Laude

Academic Positions
Assistant Professor / Donald P. Jacobs Scholar, Kellogg School of Management, Northwestern University, 2006-present
Instructor of Managerial Accounting, The Wharton School, University of Pennsylvania, 2005-2005

Print Research
Research Interests
Corporate governance, executive compensation, research methods and capital markets research

Rusticus, Tjomme O and David F. Larcker. 2010. On the Use of Instrumental Variables in Accounting Research. Journal of Accounting and Economics. 49(3): 186–205.
Ng, Jeffrey, Tjomme O Rusticus and Rodrigo Verdi. 2008. Implications of Transaction Costs for the Post-Earnings Announcement Drift. Journal of Accounting Research. 46(3): 661-696.
Larcker, David F. and Tjomme O Rusticus. 2007. Endogeneity and Empirical Accounting Research. European Accounting Review. 16(1): 207-215.
Core, John, Wayne Guay and Tjomme O Rusticus. 2006. Does Weak Governance Cause Weak Stock Performance? An Investigation of Operating Performance and Investors’ Expectations. Journal of Finance. 61(2): 655-687.
Rusticus, Tjomme O. 2001. Market-to-Book and Price-to-Earnings Ratios: Implications for Future Growth and Profitability. Maandblad voor Accountancy en Bedrijfsadministratie.
Rusticus, Tjomme O. 2000. De complementaire informatiewaarde van markt/boekwaarde en koers/winstverhoudingen. Tijdschrift voor de Bedrijfsadministratie.
Working Papers
Rusticus, Tjomme O, Brian Cadman and Jayanthi Sunder. 2012. Economic Determinants of Stock Option Vesting Periods.
Rusticus, Tjomme O. 2012. Market Inefficiency and the Implied Cost of Capital Models.
Lys, ThomasTjomme O Rusticus and Ewa Sletten. 2010. Executive Severance Agreements.
Cadman, Brian, Tjomme O Rusticus and Jayanthi Sunder. 2012. Stock Option Grant Vesting Terms: Economic and Financial Reporting Determinants.

Print Teaching
Teaching Interests
Managerial accounting