Joseph D Piotroski

Associate Professor of Accounting

Phone: (650) 498-6988

Email: [email protected]

Academic Areas: Accounting

Professor Joseph Piotroski’s research primarily focuses on financial reporting issues. Within this broad area, his research focuses on how capital market participants use financial accounting information for valuation and risk assessment purposes, how financial, legal, regulatory, and political institutions shape capital market behavior, (including financial reporting practices, governance practices, insider trading activity and foreign listing behavior) and the economic consequences of alternative financial reporting, information dissemination, and governance practices around the world.

Bio

Joseph Piotroski is an Associate Professor of Accounting at Stanford University’s Graduate School of Business. Prior to this position, he was an Associate Professor of Accounting at the University of Chicago’s Graduate School of Business (July 1999 to June 2007).

Professor Piotroski received his PhD in Accounting from the University of Michigan. He also attended the University of Illinois (BS) and Indiana University (MBA), and worked as a tax consultant for Coopers and Lybrand in Chicago.

Professor Piotroski teaches “Accounting-based Valuation,” an elective course that emphasizes traditional financial statement analysis-based valuation techniques, and “Valuation in Emerging Markets,” an elective course which examines financial reporting and valuation issues in a global context.

His research focuses on how capital market participants use financial accounting information for valuation and risk assessment purposes, and on the economic impact of different financial reporting and governance practices around the world. He has published research papers in numerous scholarly journals, including The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, and the Journal of Finance. He currently serves on the Editorial Advisory Boards of The Accounting Review, the Journal of Accounting Research, and the Journal of Accounting and Economics. Professor Piotroski’s research has been cited in the popular press, including Business Week, Smart Money Magazine, and Investors Business Daily.

Academic Degrees

PhD in Accounting, 1999, The University of Michigan; M.B.A. in Finance 1994, Indiana University; B.S. in Accounting 1989, The University of Illinois; Certified Public Accountant, 1989, State of Illinois.

Professional Experience

At Stanford since 2007.

Associate Professor of Accounting, The University of Chicago 2003-2007; Assistant Professor of Accounting, The University of Chicago, 1999-2003; Graduate Research Assistant; Graduate Instructor, The University of Michigan 1994-1999; Lecturer - Introduction to Financial Accounting, Indiana University, 1992-1994; Tax Senior Associate, Coopers and Lybrand, 1989-1992.

Selected Publications

  • Bushman, R. and J. Piotroski, Financial Reporting Incentives for Conservative Accounting: The influence of legal and ploitical institutions.: Journal of Accounting and Economics 42 (1/2): 107-148., 2006
  • Bushman, R., Piotroski, J. and A. Smith. Insider Trading Restrictions and Analysts' Incentives to Follow Firms.: The Journal of Finance 60 (1):35-66. (Nominated for the 2005 Smith-Breeden Prize), 2005
  • Piotroski, J. and D. Roulstone. Do Insider Trades Reflect Both Contrarian Beliefs and Superior Knowledge about Future Cash Flow Realizations?: Journal of Accounting and Economics 39 (1):55-82., 2005
  • Piotroski, J. and D. Roulstone. 2004. The Influence of Analysts, Institutional Investors and Insiders on: The Accounting Review 79 (4): 1119-1151., 2004
  • Bushman, R., Piotroski, J. and A. Smith. What Determines Corporate Transparency?: Journal of Accounting Research 42 (2): 207-252, 2004

Selected Cases

  • A197: Baidu.com, Inc.: Valuation at IPO

Awards and Honors

  • Robert S. Hamada Faculty Fellow, 2005, University of Chicago GSB
  • William Ladany Faculty Research Fellow, 2002, University of Chicago GSB
  • Ernest R. Wish Accounting Research Award, 2001, University of Chicago GSB
  • American Accounting Association Best Dissertation Award, 2000, Financial Reporting Section
  • Deloitte and Touche Doctoral Fellowship, 1996
  • Thomas Leabo Award, 1996, University of Michigan Business School
  • Thomas Leabo Award, 1996, University of Michigan Business School
  • William A. Paton Doctoral Fellowship, 1994
  • Teaching Excellence Award, 1994, Indiana University School of Business

Courses Taught

  • ACCT 313: Accounting-Based Valuation
  • ACCT 518: Analysis and Valuation of Emerging Market Firms
  • ACCT 615: Selected Topics in Accounting Research
  • GSBGEN 598: Stanford-Tsinghua Exchange Program

Centers/Programs

Affiliations

  • Editorial Advisory Board member: Journal of Accounting Research (2005 - present)
  • Editorial Advisory Board member: Journal of Accounting and Economics (2006 - present)
  • Editorial Advisory Board member: The Accounting Review (2005 - present)