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Scott Richardson

Professor of Accounting


BEcon (University of Sydney), PhD (University of Michigan)

Professor Scott Richardson carries out empirical archival capital markets research, primarily focused on understanding how accounting information is used to determine security prices. His research interests also cover earnings management, corporate governance and corporate finance. 

Professor Richardson has won multiple awards for his research. In 2009, he won the Notable Contribution to Accounting Literature Award for his work on accrual reliability. In 2012, he and his co-authors won the BlackRock prize for the best paper in Review of Accounting Studies.  In 2015, he and his co-authors were awarded third place in the Crowell prize for their paper, “Deleveraging Risk”, by PanAgora Asset Management, which recognises research that connects theory with application in the field of quantitative investment management.

Prior to his current role he worked as an Assistant Professor at the Wharton School of the University of Pennsylvania from 2002 to 2006. During this time his work was published extensively in leading academic journals including the Journal of Accounting and Economics, Journal of Finance, Review of Accounting Studies, Journal of Accounting Research and The Accounting Review.

From 2006 to 2010, he worked at Barclays Global Investors – now BlackRock – as Global Head of Credit Research and Head of European Equity Research. During that time he shared investment decision rights across a set of large actively-managed credit and equity funds for institutional clients. He also served on BGI's Proxy Committee in the USA and Shareholder Engagement Committee in the UK and helped to set the firm's proxy voting guidelines.

Professor Richardson left BlackRock as Managing Director in 2010, and joined London Business School. He is a member of the Advisory Council of the AQR Asset Management Institute at LBS. He is also an editor of the Review of Accounting Studies, serves on the editorial boards of several journals and is an active referee for many others. He currently works as Managing Director at AQR Capital Management with responsibilities for credit and equity research.

He holds a Bachelor of Economics from the University of Sydney and a PhD in Business Administration from the University of Michigan.




2015

Accruals and future performance: Can it be attributed to risk?

Momentè F; Reggiani F; Richardson S A

Review of Accounting Studies

2014

Asset reliability and security prices: Evidence from credit markets

Arora N; Richardson S; Tuna I

Review of Accounting Studies

Macro to micro: Country exposures, firm fundamentals, and stock returns

Li N; Richardson S; Tuna I

Journal of Accounting and Economics

2012

CARE/CEASA roundtable on: Liquidity and capital management

Calomiris C; Campello M; Lang M; Vasvari F; Richardson S

Journal of Applied Corporate Finance

Value investing in credit markets

Correia M M; Richardson S; Tuna I

Review of Accounting Studies

What makes stock prices move? Fundamentals vs investor recognition

Richardson S A; Sloan R; You H

Financial Analysts Journal

2011

Credit markets and financial information

Lok S; Richardson S

Review of Accounting Studies

2010

Accounting anomalies and fundamental analysis: A review of recent research advances

Tuna I; Richardson S; Wysocki P

Journal of Accounting and Economics

2008

The persistence and pricing of the cash flow component of earnings

Dechow P; Richardson S; Sloan R

Journal of Accounting Research

2007

Corporate governance, accounting outcomes and organizational performance

Larcker D; Richardson S; Tuna I

Accounting Review

The book-to-price effect in stock returns: Accounting for leverage

Tuna I; Penman S; Richardson S

Journal of Accounting Research

2006

Does stock market misvaluation drive the takeover market?

Dong M; Hirshleifer D; Richardson S; Teoh S H

Journal of Finance

Over-investment of free cash flow

Richardson S

Review of Accounting Studies

Stock market anomalies: What can we learn from repurchases and insider trading?

Core J; Guay W; Richardson S; Verdi R

Review of Accounting Studies

The Implications of Accounting Distortions and Growth for Accruals and Profitability

Scott Richardson; Richard G. Sloan; Mark T. Soliman; Iÿrem Tuna

The Accounting Review

The relation between corporate financing activities, analysts’ forecasts and stock returns

Bradshaw M T; Richardson S; Sloan R G

Journal of Accounting and Economics

2005

Accrual reliability, earnings persistence and stock prices

Richardson S; Sloan R G; Soliman M T; Tuna I

Journal of Accounting and Economics

2004

Fees paid to audit firms, accrual choices and corporate governance

Larcker D F; Richardson S

Journal of Accounting Research

The walk-down to beatable analyst forecasts: The role of equity issuance and insider trading incentives

Richardson S; Teoh S W; Wysocki P

Contemporary Accounting Research

2003

Earnings quality and short sellers

Richardson S

Accounting Horizons

Why are earnings kinky? An examination of the earnings management explanation

Dechow P; Richardson S; Tuna I

Review of Accounting Studies

2002

Reliability of asset revaluations: The impact of appraiser independence

Cotter J; Richardson S

Review of Accounting Studies

2001

Discretionary disclosure: A note

Richardson S

Abacus

Do analysts and auditors use information in accruals?

Bradshaw M; Richardson S; Sloan R

Journal of Accounting Research

Securities Analysis & Financial Reporting (Elective, joint with Lakshmanan Shivakumar) E206 SPR15

Research Interests

The relation between accounting information and security returns, firm valuation, earnings management, corporate governance.