EDUCATION

Stanford University, Accounting/Finance Ph.D., 1978

Thesis: Valuation of Capitalized Interest on Construction Expenditures in the Electric Utility Industry, May 1978

Committee: William Beaver (Chairman), Jim Patell, Mark Wolfson

Washington University, Accounting/Economics M.B.A., 1971

Drury College, Business/Economics A.B., 1968 

TEACHING EXPERIENCE

Professor (9/90 - present) University of Washington

Associate Professor (9/84 - 8/90) University of Washington

Assistant Professor (9/78 - 8/84) University of Washington

Acting Assistant Professor (9/76 - 6/78) University of Santa Clara

Lecturer (9/74 - 6/76) University of Santa Clara

Lecturer (Summer 1971) Washington University, St. Louis

Courses Taught include:

• Managerial Accounting: MBA & Executive MBA

• Financial Reporting: MBA & Executive MBA

• Financial/Managerial Accounting: Executive MBA

• Financial Statement Analysis: MBA and undergraduate

• Doctoral Seminar in Financial Accounting

Reviewer for: Accounting Horizons; The Accounting Review; Journal of Accounting and Economics; Journal of Financial Economics; Journal of Financial and Quantitative Analysis; Contemporary Accounting Research; Financial Management.

Executive teaching for: Wizards of the Coast (1997); UW Management Program (1985-93); Pacific Coast Banking School (1983-88); Seattle First National Bank (1983-88); Wells Fargo Bank (1979-81); Price Waterhouse (1979).

Consulting with: Seafirst Dealer Banking Group (1994); Consumer Credit Counseling Service of Seattle (1994, 1996, 1997); Group Health Credit Union (1995); Boeing Employees Credit Union (1995).

Community Service: Sugar Beach Resort Board member (1998-99); Committee for Children (1988-97); Montlake Community Club, Board of Directors (1981-84); Montlake Community Club, Treasurer (1980-81).

School Service: Vice-chair, Capital and Space Planning Committee (1995-98); Faculty Incentives Review Committee (1996); Research and Travel Committee (1992-93, Chair 1996-98); Chair, New Facilities Committee (1990-95); Prepared School's Master Plan for Facilities (1994) and Capital Budget (1993-1994); Ad hoc committee to review EMBA expansion (1995-97); EMBA Admissions Committee (1988-98); Vice-chair, Facilities Planning Committee (1990); Computer Policy Committee, member (1993-1996), Chair (1990-91); Chair, Finance Department Chair Search Committee (1990); Accounting Department Chair Search Committee (1986-1988); Elected to the School of Business Administration Faculty Council (1990-1992; 1982-84); MBA Program Committee (1984-87, Chair 1985-87); MBA Core Review Committee (1984-85); other ad hoc committees.

University Service: Vice-chair, B.A. Site Programming Committee (1990-91); UW Faculty Senate (1988-1990).

Administration: EMBA Faculty Liaison (1988-1989); Coordinator, Management Program (1988-97)

Other: SW Bell Telephone Co., Accounting Supervisor (1971); Laventhol, Krekstein, Horwath and Horwath, Auditor/Intern (1968).

"Evidence on  EVA^Ò " (with G. Biddle and J. Wallace), Journal of Applied Corporate Finance, Summer 1999.  

"Economic Value Added: Some  EVAdence" (with G. Biddle and J. Wallace), Managerial Finance, 1998, vol 24, no. 11, pp. 60-71.

"Does EVA^Ò beat Earnings? Evidence on Associations with Stock Returns and Firm Values" (with G. Biddle and J. Wallace), Journal of Accounting and Economics, December, 1997, pp. 301-336.

"Stakeholders' Implicit Claims and Accounting Method Choice" (with L. DuCharme and D. Shores), Journal of Accounting and Economics, December 1995, pp. 255-295.

"Intra-industry Market Reactions to Failures of Publicly-Held Savings and Loans" (with W. Blacconiere), Journal of Accounting, Auditing and Finance, Fall 1993, pp. 369-397.

"Determinants of the Timing of Quarterly Earnings Announcements" (with M. Johnson, T. Shevlin and D. Shores), Journal of Accounting, Auditing and Finance, Fall 1992, pp. 395-422.

"Determinants of Regulatory Accounting Principles in the Savings and Loan Industry" (with W. Blacconiere, S. Sefcik and C. Stinson), Journal of Accounting and Economics, July 1991, pp. 167-201.

"Informational Efficiency and the Information Content of Earnings during the Stock Market Crash of 1987" (with M. Johnson and T. Shevlin), Journal of Accounting and Economics, July 1989, pp. 225-254.

"Tax Incentives and the Expensing of Indirect Manufacturing Costs in the Steel Industry" (with E. Noreen), Accounting Horizons, March 1989, pp. 29-42.

"The Year-End LIFO Purchase Decision: The Case of Farmer Brothers Company" (with G. Pfeiffer), The Accounting Review, January 1989, pp. 152-171.

"The Incremental Information Content of Accrual Versus Cash Flow Data," (with D. Burgstahler and L. Daley), The Accounting Review, October 1987, pp. 723-747.

"Evidence on the Relationships Between Earnings and Various Measures of Cash Flow" (with D. Burgstahler and L. Daley), The Accounting Review, October 1986, pp. 713-725.

"Intra-Industry Effects of the Accident at Three Mile Island" (with R. Castanias and L. Daley), Journal of Financial and Quantitative Analysis, March 1983, pp. 87-11.

"Evidence on the Existence and Determinants of Inter-Industry Differences in Leverage" (with L. Daley and C. Huber, Jr.), Financial Management, Winter 1982, pp. 10-20.

"Editorial and Publication Lags in the Accounting and Finance Literature" (with G. Sundem), The Accounting Review, October 1982, pp. 778-784.

"Valuation of Earnings Components Resulting from Interperiod Tax Allocation" (with L. Daley) Collected Abstracts of the American Accounting Association's Annual Meeting, American Accounting Association, Sarasota, Florida, August 16-28, 1982, pp. 26-27.

"Determinants of the Corporate Decision to Capitalize Interest" (with E. Noreen and J. Lacey), Journal of Accounting and Economics, Vol. 3, No. 3, October 1981, pp. 154-179.

"Valuation of Earnings Components in the Electric Utility Industry," The Accounting Review, January 1981, pp. 1-22.

 

"Further evidence on EVA^Ò and Firm Values: a note on O’Byrne (1996)" (with G. Biddle and J. Wallace).

"Do Conference Calls affect Analysts’ Forecasts" (with A. Davis and D. Matsumoto).

"Accounting for Intangibles and the Anomalous Negative Relation between Equity Value and Low Earnings." (with Dave Burgstahler and Laurel Franzen).

"Economic Context and Value Relevance of Financial Statement Data" (with D. Shores).

"Determinants of Accounting Method choices" (with L. DuCharme and D. Shores).

 

"Valuation of Earnings Components Resulting From Interperiod Tax Allocation," April 1983 (with L. Daley).

"A Model of the Economic Effects of Alternative Compensation Techniques for Capital Devoted to Construction by Rate Regulated Firms," October 1986.

 

Conference on Financial Markets and the Corporation (1998), Vanderbilt University.

Universities of British Columbia, Oregon and Washington Summer Accounting Research Workshop (1980, 1981, 1982, 1984, 1990).

University of Southern California, School of Accounting Workshop (1984).

Columbia University Graduate School of Business, Accounting Research Workshop (1981).

MIT (Sloan School), Finance and Applied Economics Workshop (1982).

Harvard Graduate School of Business, Department of Control Workshop (1982).

American Accounting Association, Capital Market Research Session (1982).

 

General Motors Acceptance Corporation -- zero coupon bonds

Grumman Corporation -- income taxes

H. J. Heintz -- income taxes

Melridge, Inc. -- comprehensive case

Microsoft (with D. Shores) – intellectual capital and revenue recognition

Puget Sound Power and Light -- capitalized interest

Chrysler Corporation -- short term liquidity

Iomega Corporation -- comprehensive case

Rouse Company -- historical versus current market values

Quaker Oats -- residual income and performance evaluation

Southwest Airlines -- performance evaluation

General Electric -- inter company investments

Egghead -- reconstructing financial transactions

Walt Disney Company -- long term bonds

Amazon.com -- historical versus current market values, profits versus cash flows

Coke vs. Pepsi (with Pete Dukes and Jane Kennedy) -- adjusting Coke’s financial statement for ‘aggressive’ accounting decisions

CASES IN MANAGERIAL ACCOUNTING

Apple Computer: 1985 -- operating leverage; cost, volume, profit analysis

Apple Computer: 1984-1997 (with June Morita) -- estimating cost behavior

Puget Sound Printing (B) -- pricing decisions with excess capacity

Standards, Incentives, and Compensation Schemes for college Textbook Salespersons

Using the Accounting Systems as an Aid in Establishing a Merit Raise Pool

What's the Cost of an MBA? (with Glenn Pfeiffer) -- identifying relevant costs

Pentagon Spare Parts -- cost allocation as a cause for high prices

Genzyme, Inc. -- cost, pricing and public policy issues surrounding "orphan drug" sales

WTM, Inc. -- CVP with multiple products and constraints; intro to linear programming

Ajax Caulking -- theory of constraints

NorthWest Medical Equipment -- accounting based performance measures and decisions

Mismanagement in Higher Education? -- dropping Schools and Departments at UW

Multi-Paints, Inc. (with S. Sefcik and N. Soderstrom) -- capital budgeting in the context of uncertain environmental costs

Metalfab, Inc (with J. Jiambalvo) -- lost profit estimates and outsourcing decisions

Interior Systems, Inc (with J. Wallace) -- alternative performance metrics and capital budgeting

Floramor, Inc. (with M. Lebas) -- use of activity based costing to sell customers on a new product

 

Review of: Financial Statement Analysis by Charles H. Gibson and Patricia A. Boyer, The Accounting Review, January 1980, pp. 211-212.

Review of: Financial Statement: Form, Analysis, and Interpretation by Stewart Y. McMulllen, The Accounting Review, January 1980, pp. 219-220.

Lane A. Daley, Professor of Accounting, University of Alberta (deceased)

Topic: The Valuation of Reported Pension Measures for Firms Sponsoring Defined Benefit Plans

Completed: March 1982