Jacob K. Thomas

Yale School of Management

135 Prospect Street

P.O. Box 208200

New Haven, CT 06520-8200

United States

SCHOLARLY PAPERS

23

DOWNLOADS
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Top 1,074

in Total Papers Downloads

19,468

CITATIONS
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Top 1,537

in Total Papers Citations

363

Scholarly Papers (23)

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 (1,317)
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 (3,475)
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 (3,532)
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 (3,589)
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 (11,425)
Citation 2

Abstract:

6.
Downloads 753 ( 24,664)
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 552 (37,177)
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 201 (119,276)
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 (22,236)
Citation 84

Abstract:

Accruals, Earnings management, Market efficiency

8.
Downloads 659 ( 29,763)
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 659 (29,296)
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

9.
Downloads 654 ( 30,049)
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 407 (54,727)
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 247 (96,838)
Citation 7

Abstract:

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

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 (27,236)
Citation 24

Abstract:

Conservatism, Differential Timeliness, Losses, Scaling by Share Price

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, Yale School of Management, Yale School of Management and Yale School of Management
Downloads 345 (66,648)

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, Yale School of Management, Yale School of Management and Yale School of Management
Downloads 197 (121,565)

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 (62,708)
Citation 6

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 (69,587)
Citation 1

Abstract:

Conservatism, Differential Timeliness, Earnings

14.

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 (49,706)
Citation 1

Abstract:

Conditional conservatism; asymmetric timeliness; differential timeliness; placebo tests

15.

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 308 (76,448)
Citation 7

Abstract:

Analyst Forecast, Forecast Error, Dispersion, Price Deflation

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 (57,112)
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 (154,612)
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 (188,216)

Abstract:

Tax Benefits, Leasing, Economic Depreciation

19.

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 (301,713)

Abstract:

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

20.

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

21.

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:

22.

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:

23.

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: