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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, including the Journal of Accounting and Economics, Journal of Accounting Research, Review of Accounting Studies, The Accounting Review, Journal of Finance and Journal of Financial Economics. Shivakumar is an 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.

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.