Lakshmanan Shivakumar

London Business School

Professor of Accounting

Regent's Park

London , NW1 4SA

United Kingdom

http://faculty.london.edu/lshivakumar/

SCHOLARLY PAPERS

39

DOWNLOADS
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Top 422

in Total Papers Downloads

35,024

CITATIONS
Rank 491

SSRN RANKINGS

Top 491

in Total Papers Citations

968

Scholarly Papers (39)

1.
Downloads 3,154 ( 2,454)
Citation 115

Earnings Quality in U.K. Private Firms

LBS Accounting Subject Area Working Paper No. ACCT025
Number of pages: 65 Posted: 20 May 2004
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School
Downloads 3,154 (2,389)
Citation 115

Abstract:

Earnings quality; conservatism; loss recognition; private firms; economics of accounting standards; earnings time series; accruals.

Earnings Quality in U.K. Private Firms

Journal of Accounting & Economics, Forthcoming
Posted: 14 Apr 2004 Last Revised: 26 Apr 2009
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School

Abstract:

Earnings quality, conservatism, loss recognition, private firms, economics of accounting standards, earnings time series, accruals

2.
Downloads 2,467 ( 3,765)
Citation 58

Earnings Quality at Initial Public Offerings

Number of pages: 59 Posted: 25 Jul 2006
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School
Downloads 1,741 (6,751)
Citation 58

Abstract:

IPO, earnings management, conservatism, earnings quality

Earnings Quality at Initial Public Offerings

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 53 Posted: 08 Dec 2007
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School
Downloads 726 (26,424)
Citation 58

Abstract:

IPO, earnings management, conservatism, earnings quality

Contractibility and Transparency of Financial Statement Information Prepared under IFRS: Evidence from Debt Contracts around IFRS Adoption

Journal of Accounting Research (Forthcoming), Fox School of Business Research Paper No. 15-083
Number of pages: 69 Posted: 15 Jun 2013 Last Revised: 09 Nov 2015
Ray Ball, Xi Li and Lakshmanan Shivakumar
University of Chicago - Accounting, London School of Economics and London Business School
Downloads 2,111 (4,841)
Citation 2

Abstract:

Bonds, Contractibility, Debt Covenants, Fair Value Accounting, IFRS, Loans, Transparency

Contractibility and Transparency of Financial Statement Information Prepared Under IFRS: Evidence from Debt Contracts Around IFRS Adoption

Journal of Accounting Research, Vol. 53, No. 5, 2015
Posted: 07 Mar 2016
Ray Ball, Xi Li and Lakshmanan Shivakumar
University of Chicago - Accounting, London School of Economics and London Business School

Abstract:

Bonds, Contractibility, Debt Covenants, Fair Value Accounting, IFRS, Loans, Transparency

4.
Downloads 2,065 ( 5,138)
Citation 49

Earnings and Price Momentum

AFA 2003 Washington, DC Meetings
Number of pages: 46 Posted: 10 Nov 2002
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 2,065 (5,034)
Citation 49

Abstract:

Momentum, earnings momentum, post-earnings-announcement drift

Earnings and Price Momentum

Journal of Financial Economics, Forthcoming
Posted: 02 Jun 2005
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School

Abstract:

Momentum, post-earnings-announcement-drift, factors

5.

The Role of Accruals in Asymmetrically Timely Gain and Loss Recognition

Number of pages: 59 Posted: 02 Feb 2005
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School
Downloads 1,894 (5,545)
Citation 122

Abstract:

accruals, timely recognition, gain/loss recognition, accruals model

6.

How Much New Information is There in Earnings?

Journal of Accounting Research, Vol. 46, December 2008
Number of pages: 65 Posted: 12 Mar 2008 Last Revised: 09 Mar 2009
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Accounting and London Business School
Downloads 1,867 (4,594)
Citation 48

Abstract:

earnings, timeliness, analyst forecasts, management forecasts, efficiency

7.

Mark-to-Market Accounting and Information Asymmetry in Banks

Chicago Booth Research Paper No. 12-35, LBS Accounting Subject Area Working Paper
Number of pages: 81 Posted: 23 Oct 2011 Last Revised: 28 Sep 2012
Ray Ball, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Accounting, University of Rochester - Simon Business School and London Business School
Downloads 1,796 (5,441)
Citation 3

Abstract:

mark-to-market accounting, fair value, trading securities, banks, information asymmetry

8.
Downloads 1,708 ( 7,147)
Citation 56

Liquidity and the Post-Earnings-Announcement Drift

AFA 2008 New Orleans Meetings Paper
Number of pages: 35 Posted: 20 Mar 2007 Last Revised: 24 Aug 2011
Tarun Chordia, Ronnie Sadka, Amit Goyal, Gil Sadka and Lakshmanan Shivakumar
Emory University - Department of Finance, Boston College - Carroll School of Management, University of Lausanne, University of Texas at Dallas and London Business School
Downloads 1,379 (9,952)
Citation 56

Abstract:

G11, G12, C11

Liquidity and the Post-Earnings-Announcement Drift

Financial Analysts Journal, Forthcoming
Number of pages: 36 Posted: 18 May 2009
Tarun Chordia, Amit Goyal, Gil Sadka, Ronnie Sadka and Lakshmanan Shivakumar
Emory University - Department of Finance, University of Lausanne, University of Texas at Dallas, Boston College - Carroll School of Management and London Business School
Downloads 329 (72,818)
Citation 56

Abstract:

Research Sources, Equity Investments, Technical Analysis, Investment Theory, Efficient Market Theory, Portfolio Management, Equity Strategies

Liquidity and the Post-Earnings-Announcement Drift

Financial Analysts Journal, Vol. 65, No. 4, 2009
Posted: 09 Aug 2009
Tarun Chordia, Amit Goyal, Gil Sadka, Ronnie Sadka and Lakshmanan Shivakumar
Emory University - Department of Finance, University of Lausanne, University of Texas at Dallas, Boston College - Carroll School of Management and London Business School

Abstract:

Equity Investments, Research Sources, Investment Theory, Efficient Market Theory, Portfolio Management, Equity Strategies

9.

Momentum, Business Cycle and Time Varying Expected Returns

London Business School Accounting Subject Area No. 020; AFA 2001
Number of pages: 47 Posted: 24 Nov 2001
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 1,542 (7,205)
Citation 154

Abstract:

10.

A Catering Theory of Earnings Management

Number of pages: 58 Posted: 05 Jun 2007 Last Revised: 26 Oct 2007
Shivaram Rajgopal, Lakshmanan Shivakumar and Ana Vidolovska Simpson
Columbia Business School, London Business School and London School of Economics & Political Science - Department of Accounting
Downloads 1,504 (7,974)
Citation 7

Abstract:

earnings management, sentiment, earnings optimism, aggregate-level earnings, abnormal accruals

11.

Audit Pricing in Private Firms

London Business School Accounting Subject Area No. 011
Number of pages: 51 Posted: 26 Mar 2002
Paul K. Chaney, Debra C. Jeter and Lakshmanan Shivakumar
Vanderbilt University - Accounting, Vanderbilt University - Accounting and London Business School
Downloads 1,416 (9,390)
Citation 62

Abstract:

12.

Do Firms Mislead Investors by Overstating Earnings Before Seasoned Equity Offerings?

London Business School Accounting Subject Area No. 003
Number of pages: 49 Posted: 24 Mar 1999
Lakshmanan Shivakumar
London Business School
Downloads 1,404 (9,518)
Citation 101

Abstract:

Corporate finance, accruals, earnings management, seasoned equity offerings, offering announcements

13.

Earnings, Business Cycle And Stock Returns

Number of pages: 44 Posted: 02 Sep 2001
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 1,278 (11,153)
Citation 4

Abstract:

Earnings momentum; Stock momentum; Post-earnings announcement drift; Macroeconomic factor; Business cycle

Audited Financial Reporting and Voluntary Disclosure as Complements: A Test of the Confirmation Hypothesis

Number of pages: 71 Posted: 17 Jun 2010 Last Revised: 11 Nov 2011
Ray Ball, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Accounting, University of Rochester - Simon Business School and London Business School
Downloads 602 (34,232)
Citation 11

Abstract:

Audited Financial Reporting and Voluntary Disclosure as Complements: A Test of the Confirmation Hypothesis

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 75 Posted: 11 Nov 2011
Ray Ball, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Accounting, University of Rochester - Simon Business School and London Business School
Downloads 298 (81,360)
Citation 11

Abstract:

15.

The Cross-Section of Daily Variation in Liquidity

London Business School Accounting Subject Area No. 012
Number of pages: 47 Posted: 12 Mar 2001
Tarun Chordia, Lakshmanan Shivakumar and Avanidhar Subrahmanyam
Emory University - Department of Finance, London Business School and University of California, Los Angeles (UCLA) - Finance Area
Downloads 877 (19,881)
Citation 7

Abstract:

Accruals, Cash Flows and the Post-Earnings-Announcement Drift

Number of pages: 41 Posted: 02 Feb 2005
Lakshmanan Shivakumar
London Business School
Downloads 829 (21,841)
Citation 4

Abstract:

accruals, cash flows, post-earnings-announcement drift, earnings momentum

Accruals, Cash Flows and the Post-Earnings-Announcement Drift

Journal of Business Finance & Accounting, Vol. 33, No. 1-2, pp. 1-25, January/March 2006
Number of pages: 25 Posted: 15 Apr 2006
Lakshmanan Shivakumar
London Business School
Downloads 37 (371,428)
Citation 4

Abstract:

Accruals, Cash Flows and the Post-Earnings-Announcement Drift

Journal of Business Finance & Accounting, Forthcoming
Posted: 15 Apr 2005
Lakshmanan Shivakumar
London Business School

Abstract:

Accruals, cash flows, post-earnings-announcement-drift

17.

Self-Selection of Auditors and Audit Pricing in Private Firms

Number of pages: 49 Posted: 07 Jun 2003
Paul K. Chaney, Debra C. Jeter and Lakshmanan Shivakumar
Vanderbilt University - Accounting, Vanderbilt University - Accounting and London Business School
Downloads 766 (23,686)
Citation 64

Abstract:

Big 5, fee premium, audit choice, private firms

The Role of Financial Reporting in Debt Contracting and in Stewardship

Number of pages: 37 Posted: 13 Feb 2013 Last Revised: 24 Jul 2013
Lakshmanan Shivakumar
London Business School
Downloads 449 (50,062)

Abstract:

financial reporting, contracting

The Role of Financial Reporting in Debt Contracting and in Stewardship

Accounting and Business Research, Vol. 43, No. 4, pp. 362-383, 2013
Number of pages: 38 Posted: 25 Jul 2013
Lakshmanan Shivakumar
London Business School
Downloads 247 (100,003)

Abstract:

financial reports, conservatism, debt, fair-value accounting, stewardship, contracting

19.

Targets' Earnings Quality and Bidders' Takeover Decisions

Number of pages: 54 Posted: 24 Feb 2009 Last Revised: 03 Mar 2012
Kartik Raman, Lakshmanan Shivakumar and Ane Tamayo
Bentley University, London Business School and London School of Economics & Political Science (LSE)
Downloads 643 (29,878)
Citation 6

Abstract:

earnings quality, negotiation, takeover decision, bid premium

20.

The Complementary Roles of Audited Financial Reporting and Voluntary Disclosure: A Test of the Confirmation Hypothesis

Number of pages: 64 Posted: 17 Oct 2009
Ray Ball, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Accounting, University of Rochester - Simon Business School and London Business School
Downloads 606 (32,733)
Citation 3

Abstract:

Voluntary disclosures, earnings announcements, confirmation hypothesis

21.
Downloads 486 ( 45,792)
Citation 45

Inflation Illusion and Post-earnings-announcement Drift

Number of pages: 49 Posted: 07 Jan 2005
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 465 (47,904)
Citation 45

Abstract:

inflation illusion, money illusion, post-earnings-announcement drift, earnings momentum, market efficiency

Inflation Illusion and Post-Earnings-Announcement Drift

Journal of Accounting Research, Vol. 43, pp. 521-556, September 2005
Number of pages: 36 Posted: 08 May 2006
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 21 (447,576)
Citation 45

Abstract:

Inflation Illusion and Post-Earnings-Announcement Drift

Journal of Accounting Research, Forthcoming
Posted: 15 Apr 2005
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School

Abstract:

Inflation illusion, earnings momentum, post-earnings-announcement drift, market efficiency

22.

The Debt Market Relevance of Management Earnings Forecasts: Evidence from Before and During the Credit Crisis

Review of Accounting Studies, Forthcoming
Number of pages: 31 Posted: 08 Apr 2011
Lakshmanan Shivakumar, Oktay Urcan, Florin P. Vasvari and Li Zhang
London Business School, University of Illinois at Urbana-Champaign, London Business School and Rutgers Business School
Downloads 456 (44,553)
Citation 9

Abstract:

Voluntary Disclosure, Credit Crisis, Credit Default Swap

Abstract:

Aggregate earnings, Aggregate guidance, Management Forecasts, Market Returns, Inflation, Macroeconomy

24.

Inflation, Earnings Forecasts, and Post-Earnings Announcement Drift

Review of Accounting Studies, Vol. 15, No. 2, 2010
Number of pages: 54 Posted: 15 Feb 2005 Last Revised: 22 May 2014
Sudipta Basu, Stanimir Markov and Lakshmanan Shivakumar
Temple University - Department of Accounting, Southern Methodist University (SMU) - Edwin L. Cox School of Business and London Business School
Downloads 360 (61,384)
Citation 5

Abstract:

inflation illusion, analysts, earnings forecasts

25.

Agency-Based Demand for Conservatism: Evidence from State Adoption of Antitakeover Laws

Review of Accounting Studies, Forthcoming
Number of pages: 56 Posted: 28 Oct 2011
Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Rochester - Simon Business School and London Business School
Downloads 261 (88,859)
Citation 3

Abstract:

Conservatism, anti-takeover, timely loss recognition, agency conflicts

26.

Target’s Earnings Quality and Bidders’ Takeover Decisions

Review of Accounting Studies, Forthcoming
Number of pages: 55 Posted: 14 Sep 2012
Kartik Raman, Lakshmanan Shivakumar and Ane Tamayo
Bentley University, London Business School and London School of Economics & Political Science (LSE)
Downloads 258 (91,398)
Citation 2

Abstract:

takeovers, earnings quality, asymmetric uncertainty, negotiation, bid premium, stock payment

27.

Does Market Structure Affect the Immediacy of Stock Price Responses to News?

Journal of Financial and Quantitative Analysis, Vol. 37, No. 4, pp. 617-648, 2002
Number of pages: 50 Posted: 26 Mar 2002
Ronald W. Masulis and Lakshmanan Shivakumar
University of New South Wales - Australian School of Business and London Business School
Downloads 187 (125,717)
Citation 13

Abstract:

Price adjustment, Market structure, Equity Offering Announcements

28.

Internet Appendix to 'Contractibility and Transparency of Financial Statement Information Prepared under IFRS: Evidence from Debt Contracts around IFRS Adoption'

Journal of Accounting Research, Forthcoming
Number of pages: 66 Posted: 01 Apr 2015 Last Revised: 01 Mar 2017
Ray Ball, Xi Li and Lakshmanan Shivakumar
University of Chicago - Accounting, London School of Economics and London Business School
Downloads 56 (163,069)

Abstract:

Bonds, Contractibility, Debt Covenants, Fair Value Accounting, IFRS, Loans, Transparency

29.

Liquidity Dynamics Across Small and Large Firms

Economic Notes, Vol. 33, No. 1, pp. 111-143, February 2004
Number of pages: 34 Posted: 03 Jul 2004
Tarun Chordia, Lakshmanan Shivakumar and Avanidhar Subrahmanyam
Emory University - Department of Finance, London Business School and University of California, Los Angeles (UCLA) - Finance Area
Downloads 26 (408,221)
Citation 6

Abstract:

30.

A Review of the IFRS Adoption Literature

Review of Accounting Studies, Forthcoming
Number of pages: 118 Posted: 24 Sep 2015 Last Revised: 29 May 2016
Emmanuel T. De George, Xi Li and Lakshmanan Shivakumar
London Business School, London School of Economics and London Business School
Downloads 14 (9,344)
Citation 1

Abstract:

IFRS, Review, international accounting

31.

Exchange-Sponsored Analyst Coverage

Number of pages: 65 Posted: 24 Apr 2017
Ru Gao, Lakshmanan Shivakumar and Baljit K. Sidhu
The University of Queensland, London Business School and UNSW Australia Business School, School of Accounting
Downloads 0 (417,898)

Abstract:

Analyst Coverage, Stock Exchange Sponsored, Information Environment, Liquidity

32.

Macroeconomic Effects of Aggregate Corporate Tax Avoidance: A Cross-Country Analysis

Number of pages: 49 Posted: 27 Jun 2016 Last Revised: 06 May 2017
Terry J. Shevlin, Lakshmanan Shivakumar and Oktay Urcan
University of California-Irvine, London Business School and University of Illinois at Urbana-Champaign
Downloads 0 (325,308)

Abstract:

Economic growth, Aggregate, Tax avoidance

33.

Do Compensation Disclosures Matter for SoP Voting?

Number of pages: 64 Posted: 21 Jan 2016
Tathagat Mukhopadhyay and Lakshmanan Shivakumar
London Business School and London Business School
Downloads 0 (143,093)

Abstract:

Say-on-Pay, executive compensation, textual disclosures

Why Does Aggregate Earnings Growth Reflect Information about Future Inflation?

Posted: 28 Dec 2012 Last Revised: 22 Jan 2017
Lakshmanan Shivakumar and Oktay Urcan
London Business School and University of Illinois at Urbana-Champaign

Abstract:

Aggregate Earnings, Inflation, Investments, Macroeconomic Forecasts

Why Does Aggregate Earnings Growth Reflect Information About Future Inflation?

The Accounting Review, Forthcoming
Posted: 23 Jan 2017
Lakshmanan Shivakumar and Oktay Urcan
London Business School and University of Illinois at Urbana-Champaign

Abstract:

Aggregate Earnings, Inflation, Investments, Macroeconomic Forecasts

35.

Self-selection of Auditors and Auditor Pricing in Private Firms

The Accounting Review, January 2004
Posted: 07 Oct 2003
Paul K. Chaney, Debra C. Jeter and Lakshmanan Shivakumar
Vanderbilt University - Accounting, Vanderbilt University - Accounting and London Business School

Abstract:

Big 5, fee premium, audit choice, private firms

36.

Momentum, Business Cycle and Time-varying Expected Returns

Journal of Finance, Forthcoming April 2002
Posted: 20 Aug 2001
Lakshmanan Shivakumar and Tarun Chordia
London Business School and Emory University - Department of Finance

Abstract:

Momentum, business cycle, time-varying expected returns

37.

Do Firms Mislead Investors by Overstating Earnings Around Seasoned Equity Offerings?

Journal of Accounting & Economics, Vol. 29, No. 3, June 2000
Posted: 28 Oct 2000
Lakshmanan Shivakumar
London Business School

Abstract:

38.

Estimating Abnormal Accruals for Detection of Earnings Management

Posted: 07 Jul 1998
Lakshmanan Shivakumar
London Business School

Abstract:

39.

Earnings Management Around Seasoned Equity Offerings

Financial Markets Research Center, Working Paper #96-05
Posted: 28 Jun 1998
Lakshmanan Shivakumar
London Business School

Abstract: