Clare Wang
Clare Wang

Assistant Professor of Accounting Information & Management

Print Overview

Clare Wang is an Assistant Professor in the Accounting Information and Management department.  Her research focuses on two broad areas. The first area examines the roles that legal, regulatory, and financial reporting regimes play in capital markets and corporate activities.  The second area examines the roles that non-traditional forms of disclosure play in capital markets and corporate activities.

Clare teaches the Financial Reporting and Analysis course. She received her B.S. and Ph.D. degrees from the Wharton School, University of Pennsylvania. During the 5 years between her undergraduate and graduate studies, Clare worked in the investment banking division at Goldman Sachs in Hong Kong.

Areas of Expertise
Financial Disclosure/Statements
International Accounting

Print Vita
Ph.D., 2011, Accounting, University of Pennsylvania, Wharton School
B.S., 2001, Accounting and Finance, University of Pennsylvania, Wharton School, summa cum laude

Academic Positions
Assistant Professor, Northwestern University, Kellogg School of Management, 2011-present
Instructor, Accounting, University of Pennsylvania, Wharton School, 2009-2009

Other Professional Experience
Associate, Goldman Sachs, Investment Banking Division, 2004-2006
Analyst, Goldman Sachs, Investment Banking Division, 2001-2004

Honors and Awards
Lawrence Revsine Research Fellowship, Kellogg Accounting Research Center
E&Y Live Fellowship, Kellogg Accounting Research Center
Lawrence Revsine Research Fellowship, Kellogg Accounting Research Center
Lawrence Revsine Research Fellowship, Kellogg Accounting Research Center
Outstanding International Accounting Dissertation Award, American Accounting Association

Editorial Positions
Editorial Board Member, Journal of International Accounting Research, 2012

Print Research
Research Interests
Financial statement comparability; international accounting; disclosure regulation

Dewenter, Kathryn, Catherine Schrand and Clare Wang. Forthcoming. The Impact of Currency Risk on U.S. MNCs: New Evidence from Returns and Cross-border Investment around Currency Crises. Critical Finance Review.
Hail, Luzi, Stephanie Sikes and Clare Wang. Forthcoming. Cross-Country Evidence on the Relation between Capital Gains Taxes, Risk, and Expected Return. Journal of Public Economics.
Hamm, Sophia, Michael Jung and Clare Wang. 2015. Making Sense of One Dollar CEO Salaries. Contemporary Accounting Research. 32(3): 941-972.
Lys, ThomasJames Naughton and Clare Wang. 2015. Signaling through Corporate Accountability Reporting. Journal of Accounting and Economics. 60(1): 56-72.
Wang, Clare. 2014. Accounting standards harmonization and financial statement comparability: Evidence from transnational information transfer. Journal of Accounting Research. 54(4): 955-992.
Hail, Luzi, Ahmed Tahoun and Clare Wang. 2014. Dividend Payouts and Information Shocks. Journal of Accounting Research. 52(2): 403-456.
Verrecchia, Robert and Clare Wang. 2011. Some Thoughts on Accounting Research in Japanese Settings. Japanese Accounting Review. 1: 131-133.
Working Papers
Hail, Luzi, Ahmed Tahoun and Clare Wang. 2017. Corporate Scandals and Regulation.
Naughton, James, Tjomme O. Rusticus, Clare Wang and Ira Yeung. 2017. Private Litigation Risk and the Information Environment: Evidence from the Morrison Ruling.
Jung, Michael, James Naughton, Ahmed Tahoun and Clare Wang. 2017. Do Firms Strategically Disseminate? Evidence from Corporate Use of Social Media.
Naughton, JamesClare Wang and Ira Yeung. 2016. Are CSR Expenditures Affected by Investor Sentiment?.

Print Teaching
Teaching Interests
Financial Accounting; Valuation and Security Analysis
Full-Time / Evening & Weekend MBA
Financial Reporting and Analysis (ACCT-451-0)
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.

Empirical Research in Accounting II (ACCT-540-2)
In this survey of empirical research on positive accounting theory, students learn how to assess empirical studies and initiate and develop research projects by leading research paper discussions and replicating and extending existing research studies.