Lakshmanan Shivakumar

London Business School

Professor of Accounting

Regent's Park

London , NW1 4SA

United Kingdom

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

  • London Business School

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    • Tel: +44 20 7000 8115
    • Fax: +44 20 7000 8101
SCHOLARLY PAPERS

42

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945

CROSSREF CITATIONS

333

Scholarly Papers (42)

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1.

Earnings Quality in U.K. Private Firms

Downloads 3,435 ( 5,749)

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 - Booth School of Business and London Business School
Downloads 3,435 (5,636)
Citation 44

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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 - Booth School of Business and London Business School

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

2.

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 - Booth School of Business and London Business School
Downloads 2,892 (7,605)
Citation 13

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earnings, timeliness, analyst forecasts, management forecasts, efficiency

3.

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
University of Miami, London School of Economics and London Business School
Downloads 2,793 (7,974)
Citation 38

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IFRS, Review, international accounting

4.

Earnings Quality at Initial Public Offerings

Downloads 2,761 ( 8,117)
Citation 52

Earnings Quality at Initial Public Offerings

Number of pages: 59 Posted: 25 Jul 2006
Ray Ball and Lakshmanan Shivakumar
University of Chicago - Booth School of Business and London Business School
Downloads 1,964 (13,761)
Citation 28

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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 - Booth School of Business and London Business School
Downloads 797 (51,735)

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IPO, earnings management, conservatism, earnings quality

5.

Earnings and Price Momentum

Downloads 2,749 ( 8,178)
Citation 62

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 2,749 (8,055)
Citation 62

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Momentum, earnings momentum, post-earnings-announcement drift

Earnings and Price Momentum

Posted: 02 Jun 2005
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School

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Momentum, post-earnings-announcement-drift, factors

6.

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

Downloads 2,504 ( 9,470)
Citation 36

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 - Booth School of Business, London School of Economics and London Business School
Downloads 2,504 (9,312)
Citation 36

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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 - Booth School of Business, London School of Economics and London Business School

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

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, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Booth School of Business, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and London Business School
Downloads 2,354 (10,464)
Citation 8

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

8.

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 - Booth School of Business and London Business School
Downloads 2,206 (11,642)
Citation 51

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

9.

Momentum, Business Cycle and Time Varying Expected Returns

Number of pages: 47 Posted: 24 Nov 2001
Tarun Chordia and Lakshmanan Shivakumar
Emory University - Department of Finance and London Business School
Downloads 2,119 (12,422)
Citation 69

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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 University - Columbia Business School, Accounting, Business Law & Taxation, London Business School and London School of Economics & Political Science - Department of Accounting
Downloads 1,988 (13,723)
Citation 21

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

11.

Liquidity and the Post-Earnings-Announcement Drift

Downloads 1,952 (14,177)
Citation 52

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 1,529 (20,276)
Citation 55

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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 423 (115,185)

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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

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

12.

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

Number of pages: 49 Posted: 24 Mar 1999
Lakshmanan Shivakumar
London Business School
Downloads 1,556 (20,076)
Citation 33

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

13.

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 1,494 (21,384)
Citation 1

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14.

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 1,416 (23,167)
Citation 5

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

15.

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

Downloads 1,131 (32,285)
Citation 94

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, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Booth School of Business, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and London Business School
Downloads 706 (60,890)
Citation 66

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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, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Booth School of Business, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and London Business School
Downloads 425 (114,278)
Citation 8

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16.

The Cross-Section of Daily Variation in Liquidity

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 971 (39,928)
Citation 6

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17.

The Role of Financial Reporting in Debt Contracting and in Stewardship

Downloads 917 (43,335)
Citation 8

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 497 (94,864)
Citation 6

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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 420 (115,933)
Citation 1

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

18.

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

Downloads 909 (43,809)

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

Number of pages: 41 Posted: 02 Feb 2005
Lakshmanan Shivakumar
London Business School
Downloads 909 (43,182)

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

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

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

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

19.

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 878 (45,949)
Citation 46

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Big 5, fee premium, audit choice, private firms

20.

Analysts’ Estimates of the Cost of Equity Capital

Downloads 815 (51,060)
Citation 9

Analysts’ Estimates of the Cost of Equity Capital

Number of pages: 64 Posted: 28 Feb 2018 Last Revised: 04 Nov 2020
Karthik Balakrishnan, Lakshmanan Shivakumar and Peeyush Taori
Rice University - Jesse H. Jones Graduate School of Business, London Business School and London Business School
Downloads 531 (87,619)

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Analysts, Expected Stock Returns, Discount Rates, Cost of Equity

Analysts’ Estimates of the Cost of Equity Capital

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 67 Posted: 09 Jan 2021
Karthik Balakrishnan, Lakshmanan Shivakumar and Peeyush Taori
Rice University - Jesse H. Jones Graduate School of Business, London Business School and London Business School
Downloads 284 (178,410)
Citation 9

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analysts, cost of equity, expected stock returns, implied cost of equity capital

21.

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 763 (55,608)
Citation 8

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earnings quality, negotiation, takeover decision, bid premium

22.

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, Sudarshan Jayaraman and Lakshmanan Shivakumar
University of Chicago - Booth School of Business, Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and London Business School
Downloads 721 (60,030)
Citation 4

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Voluntary disclosures, earnings announcements, confirmation hypothesis

23.

Inflation Illusion and Post-Earnings-Announcement Drift

Downloads 581 (79,022)

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 581 (78,077)

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

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

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

24.

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, The State University of New Jersey - Accounting
Downloads 562 (82,564)
Citation 10

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Voluntary Disclosure, Credit Crisis, Credit Default Swap

25.

Macroeconomic Effects of Corporate Tax Policy

Number of pages: 55 Posted: 27 Jun 2016 Last Revised: 29 Mar 2019
Terry J. Shevlin, Terry J. Shevlin, Lakshmanan Shivakumar and Oktay Urcan
University of California-IrvineUniversity of California-Irvine, London Business School and University of Illinois at Urbana-Champaign
Downloads 521 (90,491)
Citation 1

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Economic growth, Corporate tax, Effective tax rate

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

27.

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, University of Texas at Dallas - Naveen Jindal School of Management and London Business School
Downloads 472 (102,003)
Citation 8

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inflation illusion, analysts, earnings forecasts

28.

Shareholder Voting: A Complementary Mechanism to Mandatory Disclosure Regulation

Number of pages: 53 Posted: 10 Sep 2020
Tathagat Mukhopadhyay and Lakshmanan Shivakumar
University of Colorado at Boulder - Department of Accounting and London Business School
Downloads 370 (135,179)
Citation 1

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Disclosure regulation, Say-on-Pay, executive compensation, key performance indicators, textual disclosures

29.

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, Sudarshan Jayaraman and Lakshmanan Shivakumar
Simon Business School, University of RochesterUniversity of Rochester - Simon Business School and London Business School
Downloads 328 (154,021)
Citation 8

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

30.

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 306 (165,795)
Citation 27

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

31.

Disclosure of Mutual Fund Holdings and Insider Trading Profitability

Number of pages: 61 Posted: 27 Aug 2018
Karthik Balakrishnan, Tathagat Mukhopadhyay and Lakshmanan Shivakumar
Rice University - Jesse H. Jones Graduate School of Business, University of Colorado at Boulder - Department of Accounting and London Business School
Downloads 235 (216,342)

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32.

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, Sydney and London Business School
Downloads 224 (226,587)
Citation 5

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Price adjustment, Market structure, Equity Offering Announcements

33.

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 - Booth School of Business, London School of Economics and London Business School
Downloads 217 (233,420)
Citation 8

Abstract:

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

34.

Are CEOs Rewarded for Luck? Evidence from Corporate Tax Windfalls

Number of pages: 55 Posted: 18 Aug 2022 Last Revised: 03 Aug 2023
Martina Andreani, Atif Ellahie and Lakshmanan Shivakumar
London Business School, University of Utah - David Eccles School of Business and London Business School
Downloads 190 (263,477)

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Executive compensation, pay for luck, corporate taxes, Tax Cuts and Jobs Act of 2017

35.

Macroeconomic Effects of Corporate Tax Policy

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 55 Posted: 27 Mar 2019
Terry J. Shevlin, Terry J. Shevlin, Lakshmanan Shivakumar and Oktay Urcan
University of California-IrvineUniversity of California-Irvine, London Business School and University of Illinois at Urbana-Champaign
Downloads 136 (348,774)
Citation 7

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Economic growth, Corporate tax, Effective tax rate

36.

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 89 (470,462)

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Analyst Coverage, Stock Exchange Sponsored, Information Environment, Liquidity

37.

Why Does Aggregate Earnings Growth Reflect Information about Future Inflation?

Downloads 0 (1,029,675)

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

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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:

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Aggregate Earnings, Inflation, Investments, Macroeconomic Forecasts

38.

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:

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Big 5, fee premium, audit choice, private firms

39.

Momentum, Business Cycle and Time-Varying Expected Returns

Posted: 20 Aug 2001
Lakshmanan Shivakumar and Tarun Chordia
London Business School and Emory University - Department of Finance

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Momentum, business cycle, time-varying expected returns

40.

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

Posted: 28 Oct 2000
Lakshmanan Shivakumar
London Business School

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41.

Estimating Abnormal Accruals for Detection of Earnings Management

Posted: 07 Jul 1998
Lakshmanan Shivakumar
London Business School

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42.

Earnings Management Around Seasoned Equity Offerings

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

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