Phone: +33 1 60 72 92 14
The Economic Causes and Consequences of Firm's Disclosure Choices, Role of Accounting and Non-accounting Data in the Fundamental Analysis Process
Financial Accounting and Financial Statement Analysis with emphasis on: (1) Accounting-based Valuation and (2) Complex Transactions including Mergers and Acquisitions, Leveraged Recapitalisations and Buyouts, Special Purpose Entities, Pensions, Hybrid Securities, Derivatives and Hedging
Banking and Insurance
Steve Monahan is an Associate Professor of Accounting and Control at INSEAD. Prior to joining INSEAD in September 2003, he was a member of the University of Chicago faculty. He received his PhD in Accounting from the Kenan-Flagler Business School at the University of North Carolina, a Masters of Accounting from the University of Iowa, and a BA in Economics from the University of Northern Iowa. He received the 1993 Elijah Watt Sells Award – Bronze Medal (third highest score in the United States on the uniform Certified Public Accountant exam) and served as a compensation and benefits consultant in the tax division of Arthur Andersen before pursuing his PhD.
Steve's research focuses on two related issues: (1) the role of accounting and non-accounting information in the fundamental analysis process and (2) the economic causes and consequences of alternative disclosure policies/regimes. He has conducted a number of studies in these areas and published articles in leading academic journals including the Journal of Accounting Research, the Review of Accounting Studies, and The Accounting Review. He serves on the editorial board of the Journal of Accounting Research; the Journal of Business, Finance, and Accounting; the Review of Accounting Studies; and The Accounting Review. Since 2007, he has served on the advisory board of the Center for Accounting Research and Education. He received the 2012 Financial Accounting and Reporting Section best paper award from the American Accounting Association. Between 2012 and 2015, he was an Associate Editor of the European Accounting Review.
Steve teaches in INSEAD's MBA, EMBA, and Executive Education programmes. When teaching, he focuses on helping participants develop a deep understanding of two related issues: (1) the role played by accounting information in evaluating performance and estimating value and (2) how to design and implement disclosure and reporting policies that promote value creation. From 2010 to 2015, he served as the Chair of the Accounting and Control Area, and currently, he is the coordinator of the Accounting PhD Specialisation programme.
- Journal Articles - Discretionary Disclosure in Financial Reporting: An Examination Comparing Internal Firm Data to Externally Reported Segment Data - The Accounting Review
- Journal Articles - Initial Evidence of the Role of Accounting Earnings in the Bond Market - Journal of Accounting Research
- Journal Articles - Altering Investment Decisions to Manage Financial Reporting Outcomes: Asset-backed Commercial Paper Conduits and FIN 46 - Journal of Accounting Research
- Journal Articles - Conservatism, Growth, and the Role of Accounting Numbers in the Fundamental Analysis Process - Review of Accounting Studies
- Journal Articles - An Evaluation of Accounting Based Measures of Expected Returns - The Accounting Review
- Journal Articles - Disclosure Quality and the Excess Value of Diversification - Journal of Accounting Research
- Journal Articles - Discussion of 'Using Earnings Forecasts to Simultaneously Estimate Firm-specific Cost of Equity and Long-term Growth' - Review of Accounting Studies
- Journal Articles - Discussion of ‘Is Financial Reporting Shaped by Equity Markets or Debt Markets? An International Study of Timeliness and Conservatism - Review of Accounting Studies