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Lakshmanan Shivakumar
Lord David Sainsbury of Turville Professor, Professor of Accounting
BCom (Madras) MBA PhD (Vanderbilt) Grad CWA (India)
Lakshmanan (Shiva) Shivakumar is the Lord David Sainsbury of Turville Professor, Professor of Accounting at London Business School. He has Ph.D. (Finance) and MBA (Finance) degrees from Vanderbilt University and Bachelors in Commerce degree from the University of Madras. He has a certification in cost accounting from India. He was formerly the subject area chair for the accounting group at London Business School and has held visiting positions at the University of Chicago, Singapore National University, the Indian School of Business, the Australian National University, and the University of New South Wales (Australia).
A prolific and influential academic researcher, he has been invited to talk at universities and conferences in over 25 countries. He has published articles in several top-tier accounting and finance journals. Shivakumar is the Managing Editor of the Review of Accounting Studies and is a former editor of The Accounting Review. He also serves or has served on the Editorial Board of The Accounting Review, the Journal of Accounting Research and the Journal of Business Finance and Accounting and has been a member of the American Accounting Association council. He is a member of the UK’s Financial Reporting Advisory Board. Shivakumar also consults for several bankers and consulting firms on valuation, financial analysis, and investment strategies. His research has been presented to several regulators and development agencies, including the African Development Bank, Federal Reserve Bank of New York, and the Singapore Stock Exchange. An award-winning teacher, Shivakumar teaches Financial Statement Analysis and Securities Analysis and Financial Modelling.
- lshivakumar@london.edu
- +44 (0)20 7000 8115
- Lakshmanan Shivakumar CV
Assistant
Contact Suzanne Shapiro
Email: sshapiro@london.edu
Tel: +44 (0)20 7000 8137">+44 (0)20 7000 8137
- Financial reporting in capital markets and market efficiency
2021
Analysts’ estimates of the cost of equity capital
Balakrishnan K; Shivakumar L; Taori P
Journal of Accounting and Economics 2021 Vol 71:2-3 p 101367
2019
Macroeconomic effects of corporate tax policy
Shevlin T J; Shivakumar L; Urcan O
Journal of Accounting and Economics 2019 Vol 68:1 p 101233
2018
Exchange-sponsored analyst coverage
Gao R; Shivakumar L; Sidhu B K
Contemporary Accounting Research 2018 Vol 35:2 p 734-766
2017
Why does aggregate earnings growth reflect information about future inflation?
Shivakumar L; Urcan O
Accounting Review 2017 Vol 92:6 p 247-276
2016
A review of the IFRS adoption literature
De George E; Li X; Shivakumar L
Review of Accounting Studies 2016 Vol 21:3 p 898-1004
2015
Contractibility of financial statement information prepared under IFRS: Evidence from debt contracts around IFRS adoption
Ball R; Li X; Shivakumar L
Journal of Accounting Research 2015 Vol 53:5 p 915-963
2013
Agency-based demand for conservatism: Evidence from state adoption of antitakeover laws
Jayaraman S; Shivakumar L
Review of Accounting Studies 2013 Vol 18:1 p 95-134
Target's earnings quality and bidders' takeover decisions
K Raman; L Shivakumar; A Tamayo
Review of Accounting Studies 2013 Vol 18:4 p 1050-1087
The role of financial reporting in debt contracting and in stewardship
Shivakumar L
Accounting and Business Research 2013 Vol 43:4 p 362-383
2012
Audited financial reporting and voluntary disclosure as compliments: A test of the confirmation hypothesis
Ball R; Jayaraman S; Shivakumar L
Journal of Accounting and Economics 2012 Vol 53:1-2 p 136-166
Would adoption of International Financial Reporting Standards improve foreign investment and economic growth in Egypt and Tunisia in light of the Arab Spring
Shivakumar L; Coghlan
North Africa Policy Series - African Development Bank 2012
2011
The debt market relevance of management earnings forecasts: Evidence from before and during the credit crisis
Shivakumar L; Urcan O; Vasvari F; Zhang L
Review of Accounting Studies 2011 Vol 16:3 p 464-486
2010
Discussion of aggregate market reaction to earnings announcements
Shivakumar L
Journal of Accounting Research 2010 Vol 48:2 p 335-342
Inflation, earnings forecasts and post-earnings-announcement drift
Basu S; Markov S; Shivakumar S
Review of Accounting Studies 2010 Vol 15:2 p 403-440
2009
Liquidity and the post-earnings-announcement drift
Chordia T; Goyal A; Sadka G; Sadka R; Shivakumar L
Financial Analysts Journal 2009 Vol 65:4 p 18-32
2008
Earnings quality at initial public offerings
Ball R; Shivakumar L
Journal of Accounting and Economics 2008 Vol 45:2-3 p 324-349
How much new information is there in earnings?
Ball R; Shivakumar L
Journal of Accounting Research 2008 Vol 46:5 p 975-1016
2007
A discussion of ‘Information uncertainty and post-earnings-announcement drift
Shivakumar L
Journal of Business Finance and Accounting 2007 Vol 34:3-4 p 434-438
Aggregate earnings, stock market returns and macroeconomic activity: A discussion of ‘Does earnings guidance affect market returns? The nature and information content of aggregate earnings guidance
Shivakumar L
Journal of Accounting and Economics 2007 Vol 44:1-2 p 64-73
2006
Accruals, cash flows and the post-earnings-announcement drift
Shivakumar L
Journal of Business Finance and Accounting 2006 Jan-Mar Vol 33:1/2 p 1-25
Earnings and price momentum
Chordia T; Shivakumar L
Journal of Financial Economics 2006 Jun Vol 80:3 p 627-656
Role of accruals in asymmetrically timely gain and loss recognition
Shivakumar L; Ball R
Journal of Accounting Research 2006 May Vol 44:2 p 207-242
2005
Earnings quality in UK private firms: comparative loss recognition timeliness
Ball R J; Shivakumar L
Journal of Accounting and Economics 2005 Feb Vol 39:1 p 83-128
Inflation illusion and post-earnings-announcement drift
Chordia T; Shivakumar L
Journal of Accounting Research 2005 Sep Vol 43:4 p 521-556
2004
Liquidity dynamics across small and large firms
Tarun C; Shivakumar L; Subrahmanyam A
Economic Notes 2004 Feb Vol 33:1 p 111-143
Self-selection of auditors and audit pricing in private firms
Chaney P; Jeter D C; Shivakumar L
Accounting Review 2004 Jan Vol 79:1 p 51-72
2002
Does market structure affect the immediacy of stock price responses to news?
Shivakumar L; Masulis R W
Journal of Financial and Quantitative Analysis 2002 Dec Vol 37:4 p 617-648
Momentum, business cycle and time-varying expected returns
Shivakumar L; Chordia T
Journal of Finance 2002 Apr Vol 57:2 p 985-1019
2000
Do firms mislead investors by overstating earnings before seasoned equity offerings?
Shivakumar L
Journal of Accounting and Economics 2000 Jun Vol 29:3 p 339-371
1999
Cross-sectional estimation of abnormal accruals using quarterly and annual data: effectiveness in detecting event-specific earnings management
Jeter D C; Shivakumar L
Accounting and Business Research 1999 Autumn Vol 29:4 p 299-319
2018
Analysts’ estimates of cost of equity capital
Balakrishnan K; Shivakumar L; Taori P
Social Sciences Research Network
2017
Macroeconomic effects of aggregate corporate tax avoidance
Shevlin T J; Shivakumar L; Urcan O
Social Sciences Research Network
Teaching portfolio
Our teaching offering is updated annually. Faculty and programme material are subject to change.