Charles Wasley
Professor
Area(s) of Expertise
Accounting
Bio
Professor Wasley is an award-winning researcher and an award-winning teacher. In 2019, his article “Performance Matched Discretionary Accrual Measures,” Journal of Accounting and Economics (February 2005, co-authored with S.P. Kothari at MIT and Andrew Leone at Northwestern) was honored with the American Accounting Association’s: “2019 Distinguished Contributions to Accounting Literature Award.” For his Financial Statement Analysis and Valuation course he has been awarded superior teaching awards by students in the Simon School’s MBA, MSF and MSA programs. Professor Wasley has worked as a litigation consultant on numerous corporate shareholder lawsuits including Enron, AIG and Blackrock.
- Courses
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Financial Statement AnalysisFinancial Statement Analysis with Data AnalyticsAccounting Research IIApplied Financial Statement Analysis with Data Analytics
- Research Interests
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The role of accounting information in capital markets which encompasses: the rational pricing of firm-level earnings, components; the information content of aggregate earnings for macroeconomic measures such as aggregate market returns and GDP; measuring real activity management; management guidance and earnings asymmetric timeliness; demand for management guidance in the bond market; consequences of earnings guidance cessation; information externalities in capital markets; and econometric and methodological issues in accounting research.
- Teaching Interests
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Corporate financial reporting.
- Publications
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Private Information Acquisition via Freedom of Information Act Requests Made to the Securities and Exchange Commission2022The Accounting ReviewIntertemporal Variation in the Information Content of Aggregate Earnings and its Effect on the Aggregate Earnings-Return Relation2020Review of Accounting StudiesIssue4Volume25A Fifty-Year Perspective on Ball and Brown (1968)2019Journal of Accounting ResearchIssue5Volume57Influential observations and inference in accounting research2019The Accounting ReviewIssue6Volume94The Disclose or Abstain Incentive to Issue Management Guidance2016Journal of Law, Finance, and Accounting.Issue1Volume1Macroeconomic Uncertainty and Management Earnings Forecasts2016Accounting HorizonsIssue1Volume30Macroeconomic uncertainty and management earnings forecasts2014Accounting HorizonsThe disclose or abstain incentive to issue management guidance2014Journal of Law, Finance, and Accounting, ForthcomingAggregate uncertainty and the issuance of management earnings forecasts2013Working paper, Rochester UniversitySoft-Talk Management Cash Flow Forecasts: Bias, Quality, and Stock Price Effects*2013Contemporary Accounting ResearchIssue2Volume30Information Externalities along the Supply Chain: The Economic Determinants of Suppliers' Stock Price Reaction to Their Major Customers' Earnings Announcements2011Contemporary Accounting ResearchIssueWinter 2011Information Externalities along the Supply Chain: The Economic Determinants of Suppliers’ Stock Price Reaction to Their Customers’ Earnings Announcements*2011Contemporary Accounting ResearchIssue4Volume28The Effect of R&D Inputs and Outputs on the Relation between Uncertainty of Future Operating Performance and R&D Expenditures2011Journal of Accounting, Auditing and FinanceIssueWinter 2011The effect of research and development (R&D) inputs and outputs on the relation between the uncertainty of future operating performance and R&D expenditures2011Journal of Accounting, Auditing & FinanceIssue1Volume26Aggregate uncertainty and management earnings forecasts2010The Joint Effects of Materiality Thresholds and Voluntary Disclosure Incentives on Firms' Disclosure Decisions2010Journal of Accounting and EconomicsIssue2010The joint effects of materiality thresholds and voluntary disclosure incentives on firms’ disclosure decisions2010Journal of Accounting and EconomicsIssue1Volume49The Joint Effects of Materiality Thresholds and Voluntary Disclosure Incentives on Firms’ Disclosure Decisions2010Journal of Accounting and EconomicsA Unified Framework of Management Earnings Forecasts: Disclose or Abstain, Voluntary, and Opportunistic Incentives2010The effect of R&D inputs and outputs on the relation between the uncertainty of future operating performance and R&D expenditures2009Simon School Working Paper No. FR 09-05Regression Based Tests of the Market Pricing of Accounting Numbers: The Mishkin Test and Ordinary Least Squares2007Journal of Accounting ResearchIssueDecember 2007Regression-Based Tests of the Market Pricing of Accounting Numbers: The Mishkin Test and Ordinary Least Squares2007Journal of Accounting ResearchIssue5Volume45Soft-talk management cash flow forecasts: Verifiability, credibility and stock price effects2007Simon School Working Paper No. FR 06-01An analysis of the theories and explanations offered for the mispricing of accruals and accrual components2006Journal of Accounting ResearchIssue2Volume44Forecast verifiability and credibility: Evidence from management cash flow forecasts2006Working paper from the University of RochesterThe Role of Self-Regulation in Corporate Governance: Evidence from the Netherlands2006Advances in Corporate Finance and Asset PricingIssue2006Why do managers voluntarily issue cash flow forecasts?2006Journal of Accounting ResearchIssue2Volume44An Analysis of the Theories and Explanations Offered for the Mis-Pricing of Accruals and Accrual Components2006Journal of Accounting ResearchIssueMay 2006Why do Managers Voluntarily Issue Management Cash Flow Forecasts2006Journal of Accounting ResearchIssueMay 2006Performance matched discretionary accrual measures2005Journal of accounting and economicsIssue1Volume39The role of self-regulation in corporate governance: Evidence and implications from the Netherlands2005Journal of corporate financeIssue3Volume11Income Conservatism in the US Technology Sector2004Accounting HorizonsResearch design issues and related inference problems underlying tests of the market pricing of accounting information2004Simon School Working Paper No. FR 04-15The role of self-regulation in corporate governance: evidence and implications from The Netherlands2004SSRN Working Paper SeriesCorporate governance in Nederland: Governance en financiele prestaties2001Maandblad voor Accountancy en BedrijfseconomieVolume75Information externalities associated with earnings pre-announcements2001Unpublished working paper, Simon School of Business, Rochester, NYShare price responses to technology firms’ negative quarterly earnings surprises1999Working Paper, University of Rochester, RochesterStock-based incentive contracts and managerial performance: the case of Ralston Purina Company1999Journal of financial economicsIssue2Volume51Regression-Based Tests of the Market Pricing of Accounting Numbers1997Journal of Accounting ResearchIssue5Volume45Estimating earnings response coefficients: Pooled versus firm-specific models1996Journal of Accounting and EconomicsIssue3Volume21Measuring abnormal daily trading volume for samples of NYSE/ASE and NASDAQ securities using parametric and nonparametric test statistics1996Review of Quantitative Finance and AccountingIssue3Volume6Stock Price Behavior Associated with Post-1974–75 LIFO Adoptions Announced at Alternative Disclosure Times1996Journal of Accounting, Auditing & FinanceIssue4Volume11Estimating Response Coefficients: Pooled Versus Firm-Specific Models1996Journal of Accounting and EconomicsIssue3Volume21Can we implement research on stock trading rules?1995The Journal of Portfolio ManagementIssue2Volume21Is research on trading rules implementable? The case of short-term contrarian strategies1995The Case Of Short-Term Contrarian Strategies. Simon School of Business Working Paper FRThe incidence of accounting changes and characteristics of firms making accounting changes1994Accounting HorizonsIssue2Volume8Cynthia J. Campbell Universi/y of Massachuse//s, Amhers/, MA 01003. USA1993Journal of Financial EconomicsVolume33EXECUTIVE-COMPENSATION-THE CASE OF RALSTON-PURINA-COMPANY1993Issue3Volume48j [; race Pownall Emory University Charles Wasley Washington University Gregory Waymire1993THE ACCOUNTING REVIEWIssue4Volume66Measuring security price performance using daily NASDAQ returns1993Journal of Financial EconomicsIssue1Volume33Sensitivity of Multivariate Tests of the Capital Asset-Pricing Model to the Return Measurement Interval1993The Journal of FinanceIssue4Volume48The stock price effects of alternative types of management earnings forecasts1993Accounting ReviewA further examination of the economic consequences of SFAS No. 21992Journal of Accounting ResearchThe association between environmental performance and environmental disclosure in annual reports and 10Ks1990Advances in public interest accountingIssue2Volume3Measuring security price performance in size-clustered samples1989Accounting ReviewThe relation between the return interval and betas: Implications for the size effect1989Journal of Financial EconomicsIssue1Volume23The relation between the return interval and betas: Implications for the size effect1989Journal of Financial EconomicsIssue1Volume23Bias in Estimation of Systematic Risk and its Implications for Tests of the CAPM1987Salomon Bros. Center for the Study of Financial Institutions, Graduate School of Business Administration, New York UniversityBias in Estimation of Systematic Risk and its Implications for Tests of the CAPM1987Salomon Brothers Center for the Study of Financial Institutions, Graduate School of Business Administration, New York UniversityIssue404Differential information content of earnings announcements: theoretical and empirical analysis of the role of information transfers1987University of Iowa