Joseph D. Piotroski

The Robert K. Jaedicke Professor of Accounting
Academic Area:
Joseph D. Piotroski

Bio

Professor Piotroski is The Robert K. Jaedicke Professor of Accounting at Stanford Graduate School of Business, and a senior fellow at the Asian Bureau of Finance and Economic Research (ABFER).  Before joining the faculty at Stanford in 2007, Professor Piotroski was an associate professor of accounting at the University of Chicago Graduate School of Business (1999-2007).  

Professor Piotroski’s research has been published in scholarly journals in the areas of accounting, finance, and economics; these include The Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Accounting Research, Journal of Accounting and Economics, The Accounting Review, Management Science, Review of Accounting Studies, and Journal of Law and Economics. His research on value investing has been widely cited in the popular press, used in practice, and highlighted on numerous investment-related websites. He currently serves on the editorial advisory boards of the Review of Accounting Studies, and Journal of Business, Finance and Accounting. 

Professor Piotroski teaches sessions on value creation and managerial performance measurement to business leaders in India, East Africa, and West Africa as a part of Stanford’s Institution for Innovation in Developing Economies’ Transformation Programs. He was the faculty director of the Stanford Ignite program in Beijing, and has both developed and taught in executive education programs focused on innovation for executives and entrepreneurs around the world.

Professor Piotroski earned his PhD from the University of Michigan in 1999, an MBA from Indiana University in 1994, a BS in accounting from the University of Illinois in 1989, and worked as a tax consultant for Coopers and Lybrand in Chicago from 1989 to 1992.

 

Research Interests

  • Corporate Transparency
  • Financial Regulation
  • Valuation in Emerging Markets

Administrative Titles

Director, Enterprise Singapore Scale-Up SG Tech Programme
Co-Director, The Strategic Chief Sustainability Officer Program

Academic Degrees

  • PhD in Accounting, University of Michigan, 1999
  • MBA in Finance, Indiana University, 1994
  • BS in Accounting, University of Illinois, 1989

Academic Appointments

  • Professor of Accounting, Stanford GSB, 2016-present
  • Associate Professor of Accounting, Stanford GSB, 2007–16
  • Associate Professor of Accounting, University of Chicago, 2003–07
  • Assistant Professor of Accounting, University of Chicago, 1999–2003
  • Graduate Research Assistant and Instructor, University of Michigan, 1994–99
  • Lecturer, Indiana University, 1992–94

Awards and Honors

  • Amman Mineral Faculty Fellow, 2023–24
  • Winnick Family Faculty Fellow, 2021–22
  • Stanford GSB Trust Faculty Fellow, 2016–17
  • Center for Global Business and the Economy Research Fellow, Stanford GSB, 2012–14
  • John A. Gunn and Cynthia Fry Gunn Faculty Scholar, Stanford GSB, 2010–11
  • Robert S. Hamada Faculty Fellow, University of Chicago GSB, 2005
  • William Ladany Faculty Research Fellow, University of Chicago GSB, 2002
  • Ernest R. Wish Accounting Research Award, University of Chicago GSB, 2001
  • American Accounting Association Best Dissertation Award, Financial Reporting Section, 2000
  • Deloitte and Touche Doctoral Fellowship, Deloitte and Touche, 1996

Service to the Profession

Editorial Advisory Board member

    • Journal of Accounting Research, 2005-2018
    • The Accounting Review, 2005-2011, 2014-2017
    • Review of Accounting Studies, 2011-present
    • Journal of Accounting and Economics, 2006-2011
    • Journal of Business, Finance and Accounting, 2008-present

    Professional Experience

    • Tax Senior Associate, Coopers and Lybrand, 1989–92

    Research Statement

    Professor Piotroski’s research focuses on corporate transparency, governance, and regulation in a global context. His current research examines the impact of legal, political, and regulatory forces on capital market behavior and corporate decision-making, most notably in China and other emerging economies. He also explores how capital market participants use financial information for valuation and investment purposes.

    Journal Articles

    Joseph D. Piotroski, T. J. Wong, Tianyu Zhang
    Review of Finance
    May 2022 Vol. 26 Issue 3 Pages 521–559
    Elizabeth Blankespoor, Bradley E. Hendricks, Joseph D. Piotroski, Christina Synn
    Review of Accounting Studies
    2022
    Maria Ogneva, Joseph D. Piotroski, Anastasia A. Zakolyukina
    The Accounting Review
    September 2020 Vol. 95 Issue 5 Pages 321–350
    Lisa De Simone, Joseph D. Piotroski, Rimmy Tomy
    Review of Financial Studies
    2019 Vol. 32 Pages 3105–3143
    Peter R. Joos, Joseph D. Piotroski
    Review of Accounting Studies
    December 2017 Vol. 22 Issue 4 Pages 1492-1540
    Ed deHaan, Joshua Madsen, Joseph D. Piotroski
    Journal of Accounting Research
    June 2017 Vol. 53 Issue 3 Pages 509-550
    Peter Joos, Joseph D. Piotroski, Suraj Srinivasan
    Journal of Financial Economics
    September 2016 Vol. 121 Issue 3 Pages 645-663
    Joseph D. Piotroski, T.J. Wong, T. Zhang
    Journal of Accounting Research
    March 5, 2015 Vol. 53 Issue 2 Pages 405-459
    Joseph D. Piotroski, T. Zhang
    Journal of Financial Economics
    2014 Vol. 111 Issue 1 Pages 111-136
    Joseph D. Piotroski, J. Gerakos, S. Srinivasan
    Management Science
    2013 Vol. 59 Issue 11 Pages 2413-2434
    Joseph D. Piotroski
    Journal of Accounting and Economics
    2013 Vol. 56 Issue 2-3 Pages 216-223
    Joseph D. Piotroski, E. So
    Review of Financial Studies
    2012 Vol. 25 Issue 9 Pages 2841-2875
    Joseph D. Piotroski, R. Bushman, A. Smith
    Journal of Business, Finance and Accounting
    2011 Vol. 38 Issue 1/2 Pages 1-33
    Joseph D. Piotroski, D. Roulstone
    Journal of Law, Economics and Policy
    2008 Vol. 4 Issue 2 Pages 409-448
    Joseph D. Piotroski, S. Srinivasan
    Journal of Accounting Research
    2008 Vol. 46 Issue 2 Pages 383-425
    Joseph D. Piotroski
    Journal of Accounting Research
    2007 Vol. 45 Issue 2 Pages 469-479
    Joseph D. Piotroski, R. Bushman
    Journal of Accounting and Economics
    2006 Vol. 42 Issue 1/2 Pages 107-148
    Robert M. Bushman, Joseph D. Piotroski, Abbie J. Smith
    The Journal of Finance
    July 20, 2005 Vol. 60 Issue 1 Pages 35-66
    Joseph D. Piotroski
    Review of Accounting Studies
    2005 Vol. 10 Issue 2/3 Pages 171-184
    Joseph D. Piotroski, D. Roulstone
    Journal of Accounting and Economics
    2005 Vol. 39 Issue 1 Pages 55-82
    Joseph D. Piotroski, R. Bushman, A. Smith
    Journal of Accounting Research
    2004 Vol. 42 Issue 2 Pages 207-252
    Joseph D. Piotroski, I. Dichev
    The Journal of Finance
    2001 Vol. 56 Issue 1 Pages 173-203
    Joseph D. Piotroski
    Journal of Accounting Research
    2000 Vol. 38 Issue Supplement Pages 1-41
    Joseph D. Piotroski, I Dichev
    Journal of Business, Finance and Accounting
    1999 Vol. 26 Issue 9/10 Pages 1103-1132

    Book Chapters

    Joseph D. Piotroski, T.J. Wong
    Capitalizing China. Joseph Fan and Randall Morck, eds.
    2012 Pages Chapter 4

    Teaching Statement

    Professor Piotroski’s two MBA elective courses, “Accounting Based Valuation” and “Analysis and Valuation of Emerging Market Firms,” focus on the critical use of accounting information for corporate decision-making, valuation, and investment purposes in the U.S. and emerging market contexts, respectively.

    Executive Education & Other Non-Degree Programs

    Learn how to make better financial management decisions to increase the value of your company in the marketplace.
    Learn how to grow and scale your company in this 10-month program ​for CEOs and founders of established businesses in Africa, Indonesia, and South Asia.
    Make the business case for sustainability with strategic and financial frameworks, personal leadership skills, and a deeper knowledge of today’s sustainability landscape.

    Cases

    Ron Kasznik, Joseph Piotroski, Kweku Fleming, Corinne Augustine
    2018
    George Foster, Martin Haemmig, Ning Jia, Sara Leslie, Joseph Piotroski, Jennie Tung
    2009

    Insights by Stanford Business

    September 03, 2014
    Research shows it’s more complex than mere crony capitalism.

    School News

    April 22, 2024
    A new program opens Stanford GSB to undergraduates for the first time.
    April 22, 2024
    Event highlights importance of business and government collaboration to solve contemporary problems
    February 12, 2024
    A new program from Stanford GSB and Stanford Doerr School of Sustainability is designed to help CSOs become more effective leaders.
    January 30, 2023
    Stanford alumni, faculty, and industry leaders met in Singapore to explore the connections between Asia and the U.S.
    March 02, 2016
    Silicon Valley program returns to Beijing, Sept. 2 to Nov. 13, 2016, at Stanford Center at Peking University in collaboration with Z Park.