Maureen McNichols

The Marriner S. Eccles Professor of Accounting and Public and Private Management
Robert and Marilyn Jaedicke Faculty Fellow for 2024–2025
Academic Area:
Maureen McNichols

Bio

Maureen McNichols is The Marriner S. Eccles Professor of Accounting and Public and Private Management at Stanford Graduate School of Business (GSB). Her leading research on earnings management and its implications for investors, and on analysts’ incentives, forecasts, and investment recommendations has received considerable attention from academics, investors, and regulators. Her papers appear in the leading journals in accounting and finance and have garnered several Best Paper awards. She served as an editor of Review of Accounting Studies, and has served on the editorial boards of Journal of Accounting Research, The Accounting Review and Contemporary Accounting Research.

Professor McNichols has offered courses in financial reporting in a number of Stanford’s programs, including the undergraduate program, the Stanford Law School, the Stanford MBA Program, and Stanford GSB’s PhD Program in accounting. Some of her recent electives include “Evaluating Financial Statement Information,” “Analysis for Event-Driven Investing” and “Foundations for Social Impact.” In addition, she has taught in a number of programs for executives, including Finance and Accounting for the Non-Financial Executive and IGNITE.

Professor McNichols served as chair of Stanford GSB’s accounting group three times, most recently 2016-2017, as chair of the FAB Executive Committee (2007-2008), and a member of the Stanford University Faculty Senate (2004-2007), the Senate Committee on Committees (2005-2007), the Committee on Undergraduate Admission and Financial Aid (2005-2007), the Stanford University Board of Trustees Finance Committee (2004-2008), and the Provost’s Budget Group (2006-2015) . She was a visiting professor at the University of Chicago and the London School of Business, and a visiting scholar at the Hoover Institute from 2004-2005.

Professor McNichols has been a member of the Public Companies Accounting Oversight Board Standing Advisory Group since 2014. From 2003-2006, she served as a director and member of the audit and compensation committees of Net IQ Corporation. She is certified as a CPA by the State of Illinois, and is a member of the American Accounting Association. McNichols received her BA and MA in accounting from the University of Illinois and her PhD in accounting from the University of California at Los Angeles.

Stanford University Affiliations

  • Member GSB Dean's Search Committee 2015-2016
  • Member Provost's Budget Group 2006-2015
  • Member Project on Women and Leadership 2013-2014
  • Member Finance Committee, Board of Trustees 2004-2008

Academic Degrees

  • PhD in Accounting; Graduate School of Management, University of California Los Angeles; 1984
  • MA in Accounting; University of Illinois, Urbana-Champaign; 1976
  • BA; University of Illinois, Urbana-Champaign; 1975

Academic Appointments

  • At Stanford University since 1984

Awards and Honors

  • Davis Award, 2024
  • Michelle R. Clayman Faculty Fellow, 2022–23
  • Stand Up for Kids Guardian of Youth Award, 2016
  • Susan Ford Dorsey Faculty Fellow for 2015–16
  • Philip F. Maritz Faculty Fellow, Stanford Graduate School of Business, 2014–15
  • Marriner S. Eccles Chair, 2001
  • Best Paper Award, Review of Accounting Studies, 2000
  • Best Paper Award, Review of Accounting Studies, 1998
  • Best Paper Award, Financial Reporting Section American Accounting Association, 1995
  • CPA Certificate, State of Illinois, 1975

Service to the Profession

    • Member, Standing Advisory Group, Public Company Accounting Oversight Board, 2014-2016, 2017-2019
    • Editor, Review of Accounting Studies, 1995-2008
    • Editorial Board,/Ad-Hoc Referee, The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Contemporary Accounting Research
    • Director and member of audit and compensation committees, NetIQ, 2003-2006

    Research Statement

    Maureen McNichols’ research examines financial reporting and its role in providing information to investors. Her recent work focuses on the role of earnings announcements in informing investors, on earnings management, and on the role of auditors in financial reporting quality. The research on earnings announcements documents a striking increase in stock price revision in response to earnings announcements and explores reasons for this relation. The research on earnings management examines companies’ incentives and methods for managing earnings, detection of managed earnings, and the consequences of earnings management for investors’ decisions. The research on auditors examines their role in detecting and reporting misreporting, and the factors that contribute to audit quality, including regulation, auditor incentives and ability.

    Journal Articles

    William H. Beaver (1940–2024), Stefano Cascino, Maria Correia, Maureen McNichols
    Review of Accounting Studies
    July 2023
    William H. Beaver (1940–2024), Maureen McNichols, Zach Z. Wang
    Journal of Accounting and Economics
    February 2020 Vol. 69 Issue 1
    William H. Beaver (1940–2024), Stefano Cascino, Maria Correia, Maureen McNichols
    Management Science
    May 8, 2019 Vol. 65 Issue 8 Pages 3559-3584
    Maureen McNichols, Stephen R. Stubben
    ABACUS
    June 2018 Vol. 54 Issue 2 Pages 227–246
    William H. Beaver (1940–2024), Maureen McNichols, Zach Z. Wang
    Review of Accounting Studies
    March 2018 Vol. 23 Issue 1 Pages 95-135
    William H. Beaver (1940–2024), Maureen McNichols, Richard Price
    Journal of Accounting Literature
    December 2016 Vol. 37 Pages 1-18
    Maureen McNichols, Stephen R. Stubben
    Review of Accounting Studies
    March 2015 Vol. 20 Issue 1 Pages 110-140
    Madhav V. Rajan, Maureen McNichols, Stefan J. Reichelstein
    Review of Accounting Studies
    December 2014 Vol. 19 Issue 4 Pages 1393-1435
    William H. Beaver (1940–2024), Maria Correia,, Maureen McNichols
    Review of Accounting Studies
    December 2012 Vol. 17 Issue 4 Pages 969-1010
    William H. Beaver (1940–2024), Maria Correia, Maureen McNichols
    Foundations and Trends in Accounting
    January 2011 Vol. 5 Issue 2 Pages 99-173
    Maureen McNichols, Gilad Livne
    Journal of Business Finance & Accounting
    January 2009 Vol. 36 Issue 1-2 Pages 1-30
    Maureen McNichols, Stephen R. Stubben
    The Accounting Review
    November 2008 Vol. 83 Issue 6 Pages 1571-1603
    William H. Beaver (1940–2024), Maureen McNichols, Karen K. Nelson
    Review of Accounting Studies
    2007 Vol. 12 Issue 4 Pages 525-556
    William H. Beaver (1940–2024), Maureen McNichols, Richard Price
    Journal of Accounting and Economics
    2007 Vol. 43 Issue 2–3 Pages 341-368
    Brad M. Barber, Reuven Lehavy , Maureen McNichols, Brett Trueman
    Journal of Accounting and Economics
    April 2006 Vol. 41 Issue 1–2 Pages 87–117
    Patricia C. O'Brien, Maureen McNichols, Lin Hsiou-Wei
    Journal of Accounting Research
    September 2005 Vol. 43 Issue 4 Pages 623-650
    William H. Beaver (1940–2024), Maureen McNichols, Jung-Wu Rhie
    Review of Accounting Studies
    March 2005 Vol. 10 Issue 1 Pages 93-122
    William H. Beaver (1940–2024), Maureen McNichols, Karen K. Nelson
    Journal of Accounting and Economics
    August 2003 Vol. 35 Issue 3 Pages 347–376
    Brad Barber, Reuven Lehavy, Maureen McNichols, Brett Trueman
    Financial Analyst Journal
    March 2003 Vol. 59 Issue 2 Pages 88-96
    Ron Kasznik, Maureen McNichols
    Journal of Accounting Research
    June 2002 Vol. 40 Issue 3 Pages 727–759
    Mary E. Barth, Ron Kasznik, Maureen McNichols
    Journal of Accounting Research
    June 2001 Vol. 39 Issue 1 Pages 1–34
    William H. Beaver (1940–2024), Maureen McNichols
    Review of Accounting Studies
    June 2001 Vol. 6 Issue 2-3 Pages 197-220
    Brad Barber, Reuven Lehavy, Maureen McNichols, Brett Trueman
    Journal of Finance
    April 2001 Vol. 56 Issue 2 Pages 531-563
    Maureen McNichols
    Journal of Accounting and Public Policy
    2000 Vol. 19 Issue 4-5 Pages 313-345
    William H. Beaver (1940–2024), Maureen McNichols
    Review of Accounting Studies
    March 1998 Vol. 3 Issue 1-2 Pages 73-95
    Maureen McNichols, Hsiou-wei Lina
    Journal of Accounting and Economics
    February 26, 1998 Vol. 25 Issue 1 Pages 101-127
    Mary E. Barth, Maureen McNichols, G. Peter Wilson
    Review of Accounting Studies
    March 1997 Vol. 2 Issue 1 Pages 35-64
    Maureen McNichols, Patricia C. O'Brien
    Journal of Accounting Research, Studies on Experts and the Application of Expertise in Accounting, Auditing and Tax
    1997 Vol. 35 Pages 167-199
    Richard Frankel, Maureen McNichols, G. Peter Wilson
    The Accounting Review
    January 1995 Vol. 70 Issue 1 Pages 135-150
    Maureen McNichols, Brett Trueman
    Journal of Accounting and Economics
    January 1994 Vol. 17 Issue 1-2 Pages 69-94
    Mary E. Barth, Maureen McNichols
    Journal of Accounting Research
    1994 Vol. 32, Studies on Accounting, Financial Disclosures, and the Law Pages 177-209
    Maureen McNichols, Mary E. Barth
    Journal of Accounting Research, Supplement
    1994
    Maureen McNichols, Ajay Dravid
    Th Journal of Finance
    July 1990 Vol. 45 Issue 3 Pages 857-879
    Bruce D. Grundy, Maureen McNichols
    The Review of Financial Studies
    October 1989 Vol. 2 Issue 4 Pages 495–526
    Maureen McNichols
    The Accounting Review
    January 1989 Vol. 64 Issue 1 Pages 1-27
    Maureen McNichols
    Journal of Accounting and Economics
    July 1988 Vol. 10 Issue 3 Pages 239-273
    Maureen McNichols, G. Peter Wilson
    Journal of Accounting Research, Studies on Management's Ability and Incentives to Affect the Timing and Magnitude of Accounting Accruals
    1988 Vol. 26 Pages 1-31
    Maureen McNichols, James G. Manegold
    Journal of Accounting and Economics
    1983 Vol. 5 Pages 49-74

    Working Papers

    Jung Ho Choi, Maureen McNichols, Maximilian Muhn October 2024
    Maureen McNichols, Moritz Hiemann, Stefan J. Reichelstein August 2013

    Executive Education & Other Non-Degree Programs

    Reinvigorate and ramp up your professional journey and evolve as a leader in our flagship executive program.

    Cases

    Jaclyn Foroughi, Maureen McNichols
    2022
    Jaclyn Foroughi, Maureen McNichols
    2022
    Jaclyn Foroughi, Maureen McNichols
    2022
    Jaclyn Foroughi, Maureen McNichols
    2022
    Jaclyn Foroughi, Maureen McNichols
    2022
    Jaclyn Foroughi, Maureen McNichols
    2021
    Maureen McNichols, Jaclyn Foroughi
    2021
    Maureen McNichols, Jaclyn Foroughi
    2020
    Maureen McNichols, Jaclyn Foroughi
    2020
    Maureen McNichols, William Meehan III, Jaclyn Foroughi
    2017
    Maureen McNichols, Jaclyn Foroughi
    2017
    Maureen McNichols, Jaclyn Foroughi
    2016
    Maureen McNichols, Jaclyn Foroughi
    2016
    Maureen McNichols, Jaclyn Foroughi
    2016
    Maureen McNichols, Nate Blair
    2013
    Maureen McNichols, Anne Casscells, Jaclyn Foroughi
    2013
    Maureen McNichols, Nate Blair
    2010
    Nathan Blair, Maureen McNichols
    2009
    Nathan Blair, Maureen McNichols
    2009
    Nathan Blair, Maureen McNichols
    2009
    Maureen McNichols, Brian Tayan
    2007
    Maureen McNichols, Brian Tayan
    2007
    Maureen McNichols, Brian Tayan
    2007
    Colm Callan, Maureen McNichols
    2004
    Colm Callan, Maureen McNichols
    2004
    Maureen McNichols, Brian Tayan
    2003
    Maureen McNichols, Brian Tayan
    2003

    In the Media

    Insights by Stanford Business

    December 09, 2020
    We’ve compiled an eclectic collection of books to share — or hoard — while sheltering in place this season.
    July 02, 2019
    Escape the heat with books recommended by Stanford business professors.
    December 06, 2016
    Reading recommendations from the Stanford GSB community.
    January 05, 2016
    Research shows that financial disclosures benefit buyers at the target’s shareholders' expense.
    October 06, 2015
    It’s easier than ever to find up-to-the-minute data on companies. So why are investors in love with old-fashioned financial statements?
    March 15, 2013
    New research explores the value of financial and market data to ascertaining the likelihood of bankruptcy.
    November 01, 2005
    New research shows that financial ratios are still quite effective at predicting bankruptcy.
    October 15, 2003
    Increases in executive compensation, jumps in incentives to manage earnings, and shifts in auditing firm structure contributed to governance failures.

    School News

    October 30, 2024
    A trailblazer in research, Beaver influenced generations of PhD students
    April 22, 2024
    A new program opens Stanford GSB to undergraduates for the first time.
    February 19, 2019
    The newly established symposia are a testament to the lasting impact of David M. Kreps’ contributions to Stanford GSB.