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Jacob K. Thomas

Yale School of Management

135 Prospect Street

P.O. Box 208200

New Haven, CT 06520-8200

United States

  • Yale School of Management

SCHOLARLY PAPERS

25

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CITATIONS
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360

Scholarly Papers (25)

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1.

Equity Valuation Using Multiples

Number of pages: 51 Posted: 18 Oct 2000
Jing Liu, Doron Nissim and Jacob K. Thomas
The Cheung Kong Graduate School of Business, Columbia University - Columbia Business School and Yale School of Management
Downloads 4,255 (1,410)
Citation 111

Abstract:

2.

Cash Flow is King? Comparing Valuations Based on Cash Flow Versus Earnings Multiples

Number of pages: 19 Posted: 25 Aug 2006
Jing Liu, Jacob K. Thomas and Doron Nissim
The Cheung Kong Graduate School of Business, Yale School of Management and Columbia University - Columbia Business School
Downloads 2,471 (3,565)
Citation 4

Abstract:

cash flows, earnings, valuation, multiples

3.

The Equity Risk Premium is Lower Than You Think It Is: Empirical Estimates From a New Approach

Number of pages: 48 Posted: 06 Jun 1999
James J. Claus and Jacob K. Thomas
GSA Capital and Yale School of Management
Downloads 2,468 (3,817)
Citation 31

Abstract:

4.

Stock Returns and Accounting Earnings

Number of pages: 55 Posted: 12 Nov 1998
Jing Liu and Jacob K. Thomas
The Cheung Kong Graduate School of Business and Yale School of Management
Downloads 2,363 (3,822)
Citation 59

Abstract:

5.

Measuring Equity Premium Using Earnings Forecasts: An International Analysis

Number of pages: 39 Posted: 13 Aug 1999
James J. Claus and Jacob K. Thomas
GSA Capital and Yale School of Management
Downloads 1,240 (12,276)
Citation 2

Abstract:

6.

Tax Expense Momentum

Downloads 764 ( 26,128)
Citation 2

Tax Expense Momentum

Number of pages: 48 Posted: 12 Dec 2007 Last Revised: 14 Oct 2010
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management
Downloads 559 (39,321)
Citation 2

Abstract:

tax expense, stock return, anomaly, momentum

Tax Expense Momentum

Journal of Accounting Research, Forthcoming
Number of pages: 46 Posted: 13 Dec 2010
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management
Downloads 205 (125,098)
Citation 2

Abstract:

tax expense, momentum, stock returns

7.

Inventory Changes and Future Returns

Review of Accounting Studies, Vol. 7, 1pp. 63-187, 2002
Number of pages: 42 Posted: 12 Jul 2010 Last Revised: 14 Jul 2010
Jacob K. Thomas and Huai Zhang
Yale School of Management and Nanyang Technological University (NTU)
Downloads 725 (22,910)
Citation 84

Abstract:

Accruals, Earnings management, Market efficiency

8.

Valuation of Tax Expense

Downloads 667 ( 31,529)
Citation 7

Valuation of Tax Expense

Number of pages: 48 Posted: 30 Aug 2009 Last Revised: 27 Jun 2012
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management
Downloads 410 (58,186)
Citation 7

Abstract:

Valuation, stock returns, tax expense

Valuation of Tax Expense

Review of Accounting Studies, Forthcoming
Number of pages: 48 Posted: 28 Aug 2013
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management
Downloads 257 (99,416)
Citation 7

Abstract:

Tax expense, stock returns, profitability, value relevance, valuation

9.

Overreaction to Intra-Industry Information Transfers?

Downloads 665 ( 31,643)
Citation 19

Overreaction to Intra-Industry Information Transfers?

Number of pages: 50 Posted: 07 Dec 2006 Last Revised: 12 Nov 2007
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management
Downloads 665 (31,146)
Citation 19

Abstract:

Intra-industry information transfer, market efficiency, stock returns, earnings surprises

Overreaction to Intra-Industry Information Transfers?

Journal of Accounting Research, Forthcoming
Posted: 21 Nov 2007
Jacob K. Thomas and Frank Zhang
Yale School of Management and Yale School of Management

Abstract:

information transfer, earnings, returns, overreaction

10.

More Evidence of Bias in the Differential Timeliness Measure of Conditional Conservatism

The Accounting Review, September 2011
Number of pages: 46 Posted: 26 May 2010 Last Revised: 11 Apr 2014
Panos N. Patatoukas and Jacob K. Thomas
University of California, Berkeley - Haas School of Business and Yale School of Management
Downloads 635 (27,854)
Citation 23

Abstract:

Conservatism, Differential Timeliness, Losses, Scaling by Share Price

11.

Non-Executive Employee Ownership and Corporate Risk

Downloads 583 ( 37,713)

Non-Executive Employee Ownership and Corporate Risk

Rotman School of Management Working Paper No. 2297996
Number of pages: 52 Posted: 25 Jul 2013 Last Revised: 11 Jun 2014
Francesco Bova, Kalin S. Kolev, Jacob K. Thomas and Frank Zhang
University of Toronto - Rotman School of Management, CUNY Baruch College, Yale School of Management and Yale School of Management
Downloads 360 (67,966)

Abstract:

Employee ownership, employee compensation, executive compensation, risk

Non-Executive Employee Ownership and Corporate Risk

Accounting Review, Forthcoming
Number of pages: 52 Posted: 13 Jun 2014 Last Revised: 04 Aug 2014
Francesco Bova, Kalin S. Kolev, Jacob K. Thomas and Frank Zhang
University of Toronto - Rotman School of Management, CUNY Baruch College, Yale School of Management and Yale School of Management
Downloads 223 (115,023)

Abstract:

Employee ownership, employee compensation, executive compensation, risk

12.

Evidence of Conditional Conservatism: Fact or Artifact?

Number of pages: 42 Posted: 25 Oct 2009
Panos N. Patatoukas and Jacob K. Thomas
University of California, Berkeley - Haas School of Business and Yale School of Management
Downloads 348 (66,836)
Citation 5

Abstract:

conservatism, asymmetric timeliness, losses, scaling by share price

13.

Comment On 'On Estimating Conditional Conservatism' by Ball, Kothari, and Nikolaev

Number of pages: 37 Posted: 05 Sep 2011
Panos N. Patatoukas and Jacob K. Thomas
University of California, Berkeley - Haas School of Business and Yale School of Management
Downloads 317 (73,543)
Citation 1

Abstract:

Conservatism, Differential Timeliness, Earnings

14.

Why do EPS Forecast Error and Dispersion not Vary with Scale? Implications for Analyst and Managerial Behavior

Journal of Accounting Research, Forthcoming
Number of pages: 50 Posted: 12 Sep 2010
Foong Soon Cheong and Jacob K. Thomas
New York University (NYU) - NYU Shanghai and Yale School of Management
Downloads 314 (80,184)
Citation 7

Abstract:

Analyst Forecast, Forecast Error, Dispersion, Price Deflation

15.

Placebo Tests of Conditional Conservatism

The Accounting Review, March 2016
Number of pages: 48 Posted: 23 Apr 2015 Last Revised: 27 Jun 2016
Panos N. Patatoukas and Jacob K. Thomas
University of California, Berkeley - Haas School of Business and Yale School of Management
Downloads 309 (48,966)
Citation 1

Abstract:

Conditional conservatism; asymmetric timeliness; differential timeliness; placebo tests

16.

Spring-Loading Future Performance When No One is Looking? Earnings and Cash Flow Management Around Acquisitions

Review of Accounting Studies, Forthcoming
Number of pages: 49 Posted: 27 Jul 2011 Last Revised: 29 Nov 2015
Shuping Chen, Jacob K. Thomas and Frank Zhang
University of Texas at Austin - Red McCombs School of Business, Yale School of Management and Yale School of Management
Downloads 263 (53,462)
Citation 1

Abstract:

Earnings management, cash flow management, merger and acquisition, accruals

17.

Surprising Absence of Scale for Forecast Error Magnitudes and Forecast Dispersion

Number of pages: 37 Posted: 24 Oct 2009
Foong Soon Cheong and Jacob K. Thomas
New York University (NYU) - NYU Shanghai and Yale School of Management
Downloads 147 (160,394)
Citation 1

Abstract:

Analyst Forecast, Predictability, Disagreement, Deflator

18.

Tax Benefits of Leasing

Economics Letters, Forthcoming
Number of pages: 11 Posted: 28 Aug 2013
Timothy J. Bell and Jacob K. Thomas
CCSU Accounting Department and Yale School of Management
Downloads 102 (186,331)

Abstract:

Tax Benefits, Leasing, Economic Depreciation

19.

Online Appendix for: Management of Reported and Forecast EPS, Investor Responses, and Research Implications

Management Science, Forthcoming
Number of pages: 11 Posted: 26 Jul 2017
Foong Soon Cheong and Jacob K. Thomas
New York University (NYU) - NYU Shanghai and Yale School of Management
Downloads 0 (532,278)

Abstract:

EPS forecast errors, earnings management, forecast guidance, scale deflation, and earnings response coefficients

20.

Management of Reported and Forecast EPS, Investor Responses, and Research Implications

Management Science, Forthcoming
Number of pages: 52 Posted: 25 Jul 2017
Foong Soon Cheong and Jacob K. Thomas
New York University (NYU) - NYU Shanghai and Yale School of Management
Downloads 0 (281,929)

Abstract:

EPS Forecast Errors, Earnings Management, Forecast Guidance, Scale Deflation, and Earnings Response Coefficients

21.

Management of Reported and Forecast EPS and the Extent to Which Investors Adjust

Number of pages: 49 Posted: 28 Aug 2016
Foong Soon Cheong and Jacob K. Thomas
New York University (NYU) - NYU Shanghai and Yale School of Management
Downloads 0 (271,149)

Abstract:

EPS forecast errors; earnings management; forecast guidance; scale deflation; and earnings response coefficients

22.

Is Cash Flow King in Valuations?

Financial Analysts Journal, Vol. 63, No. 2, pp. 56-65, 2007
Posted: 19 Apr 2007
Jing Liu, Doron Nissim and Jacob K. Thomas
The Cheung Kong Graduate School of Business, Columbia University - Columbia Business School and Yale School of Management

Abstract:

Equity Investments, Fundamental Analysis and Valuation Models, Industry Analysis

23.

Potential Errors in Detection of Earnings Management: Reexamining Studies Investigating the AMT of 1986

Posted: 30 Oct 2000
Won W. Choi, Jeffrey Gramlich and Jacob K. Thomas
Dongguk University, Carson College of Business and Yale School of Management

Abstract:

24.

Accounting-Based Stock Price Anomalies: Separating Market Inefficiencies from Research Design Flaws

Posted: 04 Aug 1998
Victor Bernard, Jacob K. Thomas and James Michael Wahlen
University of Michigan at Ann Arbor, Yale School of Management and Indiana University - Kelley School of Business - Department of Accounting

Abstract:

25.

Accounting-Based Stock Price Anomalies: Separating Market Inefficiencies from Risk

CONTEMPORARY ACCOUNTING RESEARCH, Vol 14, No 2, Summer 1997
Posted: 20 Dec 1996
Victor Bernard, Jacob K. Thomas and James Michael Wahlen
University of Michigan at Ann Arbor, Yale School of Management and Indiana University - Kelley School of Business - Department of Accounting

Abstract:

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