
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.
Expertise
Courses
Sourcing & Managing Funds MGT 423
Informed Business Decisions MGT 814E
Education
- PhD, University of Michigan, 1984
- MBA, ICMS, 1977
- B. Tech, IIT, 1974
Courses
- Sourcing & Managing Funds MGT 423
- InformdBusDec:Tax&FinPerspctv MGT 814
Selected Articles
Do average costs decline as firms grow?
Management of reported and forecast EPS, investor responses, and research implications
Spring-loading when no one is looking? Earnings and cash flow management around acquisition
Placebo tests of conditional conservatism
Non-executive employee ownership and corporate risk-taking
Achievements
- 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