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Professor Thomas focuses on the relation between accounting information and stock prices. Insights recently developed in this area that suggest fundamental links between accounting numbers and value form the basis of much of his recent teaching and research. He was actively involved in developing the core curriculum and has written cases and other teaching material for the courses he teaches on equity valuation and financial management. Differences between stock prices and fundamental value provide the basis for his examination of various stock trading strategies. Before joining the faculty at the Yale School of Management, he was the Ernst & Young Professor of Accounting and Finance at Columbia Business School. 


  • PhD, University of Michigan, 1984
  • MBA, ICMS, 1977
  • B. Tech, IIT, 1974

Selected Works



  • Distinguished Alumni Speaker, Rackham Centennial, 2012
  • Research Prize, Chazen International, 2002
  • Finalist, Smith Breeden Prize, American Finance Association, 2001
  • First Prize, IBES Competition for International Valuation Research, 1999
  • Dean's Award for Teaching Excellence, Columbia Business School, 1995
  • AICPA Notable Contributions to Accounting Literature Award, 1993
  • Deloitte Haskins and Sells Doctoral Fellow, 1982-1984