Accounting,also known as accountancy,is the processing of information about economic entities,such as businesses and corporations. Accounting measures the results of an organization's economic activities and conveys this information to a variety of stakeholders,including investors,creditors,management,and regulators. Practitioners of accounting are known as accountants. The terms "accounting" and "financial reporting" are often used as synonyms.
Myron Samuel Scholes is a Canadian–American financial economist. Scholes is the Frank E. Buck Professor of Finance,Emeritus,at the Stanford Graduate School of Business,Nobel Laureate in Economic Sciences,and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors,American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management (LTCM),a highly leveraged hedge fund that collapsed in 1998,and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago,senior research fellow at the Hoover Institution,director of the Center for Research in Security Prices,and professor of finance at MIT's Sloan School of Management. Scholes earned his PhD at the University of Chicago.
The Wharton School of the University of Pennsylvania is the business school of the University of Pennsylvania,a private Ivy League research university in Philadelphia. It is the world's oldest collegiate business school,having been established in 1881 through a donation from Joseph Wharton.
In corporate finance,capital structure refers to the mix of various forms of external funds,known as capital,used to finance a business. It consists of shareholders' equity,debt,and preferred stock,and is detailed in the company's balance sheet. The larger the debt component is in relation to the other sources of capital,the greater financial leverage the firm is said to have. Too much debt can increase the risk of the company and reduce its financial flexibility,which at some point creates concern among investors and results in a greater cost of capital. Company management is responsible for establishing a capital structure for the corporation that makes optimal use of financial leverage and holds the cost of capital as low as possible.
Dr. William Dudley "Billy" Geer,also known as W. D. Geer,was a Christian educator who served as the first Dean of the School of Business at Samford University in Birmingham,Alabama. His research interests focused on finance,insurance,applied economic analysis,real estate,and economic history.
In finance,leverage is any technique involving borrowing funds to buy an investment,estimating that future profits will be more than the cost of borrowing. This technique is named after a lever in physics,which amplifies a small input force into a greater output force,because successful leverage amplifies the smaller amounts of money needed for borrowing into large amounts of profit. However,the technique also involves the high risk of not being able to pay back a large loan. Normally,a lender will set a limit on how much risk it is prepared to take and will set a limit on how much leverage it will permit,and would require the acquired asset to be provided as collateral security for the loan.
The Samuel Curtis Johnson Graduate School of Management is the graduate business school in the SC Johnson College of Business at Cornell University,a private Ivy League university located in Ithaca,New York. It was founded in 1946 and renamed in 1984 after Samuel Curtis Johnson,founder of S.C. Johnson &Son,following his family's $20 million endowment gift to the school in his honor—at the time,the largest gift to any business school in the world.
Lars Peter Hansen is an American economist. He is the David Rockefeller Distinguished Service Professor in Economics,Statistics,and the Booth School of Business,at the University of Chicago and a 2013 recipient of the Nobel Memorial Prize in Economics.
The Olin Business School is one of seven academic schools at Washington University in St. Louis. Founded in 1917,the business school was renamed for entrepreneur John M. Olin in 1988. The school offers BSBA,Master of Business Administration (MBA),MS in Supply Chain Management,MS in Finance,Masters in Accounting,MS in Business Analytics,MS in Leadership,Executive MBA,Doctor of Business in Finance (DBA) and PhD degrees. In 2002,an Executive MBA program was established in Shanghai,in cooperation with Fudan University and in 2017,along with IIT-Bombay started an EMBA program in India.
The Z-score formula for predicting bankruptcy was published in 1968 by Edward I. Altman,who was,at the time,an Assistant Professor of Finance at New York University. The formula may be used to predict the probability that a firm will go into bankruptcy within two years. Z-scores are used to predict corporate defaults and an easy-to-calculate control measure for the financial distress status of companies in academic studies. The Z-score uses multiple corporate income and balance sheet values to measure the financial health of a company.
Bankruptcy prediction is the art of predicting bankruptcy and various measures of financial distress of public firms. It is a vast area of finance and accounting research. The importance of the area is due in part to the relevance for creditors and investors in evaluating the likelihood that a firm may go bankrupt.
Bruce Dehning is an American professor and scholar who spent almost his entire career in the collegiate realm. He is known primarily for his work researching the effect of information technology (IT) on firm performance for which he is a two-time winner of the Notable Contribution to the Accounting Information Systems Literature award (with Vernon J. Richardson in 2006,and with Vernon J. Richardson and Robert W. Zmud in 2013. He has thirty two total refereed publications,including three premier publications,ten top tier publications,and thirteen impact factor publications. His published work has been cited more than 3,600 times,making him one of the top ten most cited Accounting Information Systems researchers in the world.
Kozminski University is a private,nonprofit business school in Warsaw,Poland;according to the Financial Times,it is considered to be "Poland’s highest rated private university". It was established in 1993 and named after Leon Koźmiński,a Polish professor of economics and entrepreneurship,and also the father of Andrzej Koźmiński,the founder and the first rector of the school. It is one of the top business schools in the world,contains the Central Eastern campus of ESCP as of 2015,and the only institution of higher education in Poland,holding the "triple accreditation ". Less than 1% of business education providers worldwide hold these three major international quality accreditations. The Financial Times named the university as the best business school in Poland and Central Europe.
The Tepper School of Business is the business school of Carnegie Mellon University. It is located in the university's 140-acre (0.57 km2) campus in Pittsburgh,Pennsylvania.
Douglas Warren Diamond is an American economist. He is currently the Merton H. Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business,where he has taught since 1979. Diamond specializes in the study of financial intermediaries,financial crises,and liquidity. He is a former president of the American Finance Association (2003) and the Western Finance Association (2001-02).
William Wager Cooper was an American operations researcher,known as a father of management science and as "Mr. Linear Programming". He was the founding president of The Institute of Management Sciences,founding editor-in-chief of Auditing:A Journal of Practice and Theory,a founding faculty member of the Graduate School of Industrial Administration at the Carnegie Institute of Technology,founding dean of the School of Urban and Public Affairs at CMU,the former Arthur Lowes Dickinson Professor of Accounting at Harvard University,and the Foster Parker Professor Emeritus of Management,Finance and Accounting at the University of Texas at Austin.
Craig Woodworth Holden was the finance department chair and Gregg T. and Judith A. Summerville Chair of Finance at the Kelley School of Business at Indiana University. His research focused on market microstructure. He was secretary-treasurer of the Society for Financial Studies. He was an associate editor of the Journal of Financial Markets. His M.B.A. and Ph.D. were from the Anderson School of Management at UCLA. He received the Fama-DFA Prize for the second best paper in capital markets published in the Journal of Financial Economics in 2009,the Spangler-IQAM Award for the best investments paper published in the Review of Finance in 2017-2018,and the Philip Brown Prize for the best paper published in 2017 using SIRCA data. His research has been cited more than 4,300 times. He has written two books on financial modeling in Excel:Excel Modeling in Investments and Excel Modeling in Corporate Finance. He has chaired 22 dissertations,been a member or chair of 62 dissertations,and serves on the program committees of the Western Finance Association and European Finance Association.
Yacine Aït-Sahalia is the Otto Hack 1903 Professor of Finance and Economics at Princeton University. His primary area of research is financial econometrics. He has been serving as the inaugural director of the Bendheim Center for Finance at Princeton University from 1998 until 2014. Prior to that,he was an assistant professor (1993–96),associate professor (1996–98) and professor of finance (1998) at the University of Chicago Booth School of Business.
Henrik Cronqvist is the Robert J. and Carolyn A. Waltos Dean and Professor of Economics of the George L. Argyros School of Business and Economics at Chapman University in Orange,California,a position he has held since August 2022. He previously served as a professor of finance,Bank of America scholar,and vice dean for faculty and research at the University of Miami School of Business,where he conducted interdisciplinary research and taught finance and management courses at both undergraduate and graduate levels.
Ahmed Rashad Abdel-khalik is an American scholar who was born in Egypt. He is the V. K. Zimmerman Professor of International Accounting,Professor of Accountancy,and Director of the V. K. Zimmerman Center for International Education and Research in Accounting at University of Illinois at Urbana–Champaign.
