Michael B. Clement
Email: Contact Marc Vellrath
Michael Clement received his BBA (magna cum laude) from Baruch College in 1980, his MBA from the University of Chicago in 1988, and his Ph.D. from Stanford University in 1997. His research interests include security analysis, financial accounting, financial markets and statement analysis. Professor Clement is the recipient of numerous awards, including the CBA Foundation Research Excellence Award for Assistant Professors for 2003-2004.
Certified Public Accountant (CPA)
Ph.D., Accounting, Stanford University, 1997
MBA, Finance, University of Chicago, 1988
BBA, Accounting, magna cum laude, Baruch College, 1980
Areas of expertise
Recent news, presentations, and publications
“Sociopolitical Dynamics in Relations Between Top Managers and Security Analysts: Favor Rendering, Reciprocity, and Analyst Stock Recommendations,” with James Westphal (University of Michigan), Academy of Management Journal, 51(5): 873–897 (2008)
“The Roles of Task-Specific Experience and Innate Ability in Understanding Analyst Performance,” with Lisa Koonce (University of Texas at Austin) and Thomas Lopez (University of South Carolina), forthcoming Journal of Accounting and Economics.
“Financial Analyst Characteristics and Herding Behavior in Forecasting,” with Senyo Tse (University of Texas at Austin), Journal of Finance, 60(1): 307-342 (2005).
“Do Investors Respond to Analysts’ Forecast Revisions as if Forecast Accuracy is all that Matters?” with Senyo Tse (University of Texas at Austin), Accounting Review, 78(1): 227 -249 (2003).
“Confirming Management Earnings Forecasts, Earnings Uncertainty, and Stock Returns,” with Richard Frankel (Massachusetts Institute of Technology) and Jeffrey Miller (University of Notre Dame), Journal of Accounting Research, 41(4): 653-679 (2003).
“The Influence of Culture and Corporate Governance on the Characteristics that Distinguish Superior Analysts,” with Lynn Rees and Edward Swanson (Texas A&M University), Journal of Accounting, Auditing, and Finance, 18(4): 593-609 (2003).
“Analysts’ Forecast Accuracy: Do Ability and Portfolio Complexity Matter?” Journal of Accounting and Economics, 27: 285-303 (1999).
“Stock Market Valuation of Brands,” with Mary Barth, George Foster and Ron Kasznik (Stanford University), Review of Accounting Studies, 3: 41-68 (1998).
“Hiding in Plain Sight? Bad Earnings News Still Mostly Shows Up on Firdays and Mondays” with Mark Bagnoli and Susan WAtts (Purdue University), Investor Relations Quarterly, 6(2), 15-32 (2004).