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Scott Richardson

Professor of Management Practice in Accounting


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

Professor Scott Richardson is a researcher and portfolio manager in AQR's Global Alternative Premia group, overseeing research in credit and fixed-income markets. He is also involved with the equity research for the firm's Global Stock Selection group.

Prior to AQR, he was a professor at London Business School, where he still teaches M.B.A. and Ph.D. classes. He has held senior positions at BlackRock (Barclays Global Investors), including head of Europe equity research and head of global credit research, where he oversaw research and investment decisions at BGI for both total return and absolute return products across credit and equity markets. He began his career as an assistant professor at the University of Pennsylvania.

He is an editor of the Review of Accounting Studies and has published extensively in leading academic and practitioner journals. In 2009 he won the Notable Contribution to Accounting award for his work on earnings quality and accruals. Scott earned a B.Ec. with first-class honors from the University of Sydney and a Ph.D. in business administration from the University of Michigan.

2017

Asset volatility

Correia M; Kang J; Richardson S

Review of Accounting Studies 2017 Forthcoming

Deleveraging risk

Richardson S A; Saffi P; Sigurdsson K

Journal of Financial and Quantitative Analysis 2017 Forthcoming

2016

Credit risk premium

Asvanunt A; Richardson S A

Journal of Fixed Income 2016 Winter Vol 26:3 p 6-24

2015

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

Momentè F; Reggiani F; Richardson S A

Review of Accounting Studies 2015 Vol 20:4 p 1297-1333

2014

Asset reliability and security prices: Evidence from credit markets

Arora N; Richardson S A; Tuna I

Review of Accounting Studies 2014 Vol 19:1 p 363-395

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

Li N; Richardson S A; Tuna I

Journal of Accounting and Economics 2014 Vol 58:1 p 1-20

2012

CARE/CEASA roundtable on: Liquidity and capital management

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

Journal of Applied Corporate Finance 2012 Vol 24:1 p 42-59

Value investing in credit markets

Correia M M; Richardson S A; Tuna I

Review of Accounting Studies 2012 Vol 17:3 p 572-609

What makes stock prices move? Fundamentals vs investor recognition

Richardson S A; Sloan R; You H

Financial Analysts Journal 2012 March/April Vol 68:2 p 30-50

2011

Credit markets and financial information

Lok S; Richardson S A

Review of Accounting Studies 2011:16 p 487-500

2010

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

Tuna I; Richardson S A; Wysocki P

Journal of Accounting and Economics 2010 Vol 50:2-3 p 410-454

2008

The persistence and pricing of the cash flow component of earnings

Dechow P; Richardson S A; Sloan R

Journal of Accounting Research 2008 Vol 46 p 537-566

2007

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

Tuna I; Penman S; Richardson S A

Journal of Accounting Research 2007 Vol 45:2 p 427-467

Corporate governance, accounting outcomes and organizational performance

Larcker D; Richardson S A; Tuna I

Accounting Review 2007 Vol 82:4 p 963-1008

2006

Over-investment of free cash flow

Richardson S A

Review of Accounting Studies 2006 Vol 11:2 p 159-189

Does stock market misvaluation drive the takeover market?

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

Journal of Finance 2006 Vol 61:2 p 725-762

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

Core J; Guay W; Richardson S A; Verdi R

Review of Accounting Studies 2006 Vol 11 p 49-70

The Implications of Accounting Distortions and Growth for Accruals and Profitability

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

The Accounting Review 2006 Vol 81:3 p 713-743

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

Bradshaw M T; Richardson S A; Sloan R G

Journal of Accounting and Economics 2006 Vol 42 p 53-85

2005

Accrual reliability, earnings persistence and stock prices

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

Journal of Accounting and Economics 2005 Vol 39 p 437-485

2004

Fees paid to audit firms, accrual choices and corporate governance

Larcker D F; Richardson S A

Journal of Accounting Research 2004 Vol 42 p 625-658

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

Richardson S A; Teoh S W; Wysocki P

Contemporary Accounting Research 2004 Vol 21 p 885-924

2003

Earnings quality and short sellers

Richardson S A

Accounting Horizons 2003 p 69-81

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

Dechow P; Richardson S A; Tuna I

Review of Accounting Studies 2003 Vol 8 p 355-384

2002

Reliability of asset revaluations: The impact of appraiser independence

Cotter J; Richardson S A

Review of Accounting Studies 2002 Vol 7 p 435-457

2001

Discretionary disclosure: A note

Richardson S A

Abacus 2001 Vol 37 p 233-247

Do analysts and auditors use information in accruals?

Bradshaw M; Richardson S A; Sloan R

Journal of Accounting Research 2001 Vol 39 p 45-74

2016

Common factors in corporate bond and bond fund returns

Israel R; Palhares D; Richardson S A

Social Sciences Research Network

Prepayment risk and expected MBS returns

Diep P; Eisfelt A; Richardson S

None

Risky value

Ellahie A; Katz M; Richardson S A

Social Sciences Research Network

2015

Credit risk premium

Richardson S A; Asvanunt A

Social Sciences Research Network

Does fundamental volatility help explain credit risk?

Correia M; Kang J; Richardson S A

Social Sciences Research Network

2011

Asset measurement uncertainty and credit term structure

Richardson S A; Tuna I

Social Sciences Research Network

Executive MBA


  • EMBADS2018 Financial Accounting CD04 S AUT16


Electives


  • Securities Analysis and Financial Reporting E206 Streams A&B SPR17

  • Systematic Investing in Credit Markets E499 SUM17

Research Interests

  • The relation between accounting information and security returns
  • Firm valuation
  • Earnings management
  • Corporate governance