Thomas Z. Lys

Northwestern University - Kellogg School of Management

Eric L. Kohler Chair in Accounting

2001 Sheridan Road

Department of Accounting & Information Systems

Evanston, IL 60208

United States

  • Northwestern University - Kellogg School of Management

    • Email
    • Tel: 847-491-2673
    • Fax: 847-467-1202
SCHOLARLY PAPERS

26

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CITATIONS
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928

Scholarly Papers (26)

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1.

The Ohlson Model: Contribution to Valuation Theory, Limitations, and Empirical Applications

Downloads 9,454 ( 472)

The Ohlson Model: Contribution to Valuation Theory, Limitations, and Empirical Applications

Sauder School of Business Working Paper
Number of pages: 48 Posted: 16 Mar 2000
Kin Lo and Thomas Z. Lys
University of British Columbia (UBC) - Sauder School of Business and Northwestern University - Kellogg School of Management
Downloads 9,454 (464)
Citation 68

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The Ohlson Model: Contribution to Valuation Theory, Limitations, and Empirical Applications

Journal of Accounting, Auditing & Finance, Summer 2000
Posted: 16 Mar 2000
Kin Lo and Thomas Z. Lys
University of British Columbia (UBC) - Sauder School of Business and Northwestern University - Kellogg School of Management

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2.

Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods

Downloads 6,904 ( 816)
Citation 148

Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods

AAA 2006 Financial Accounting and Reporting Section (FARS) Meeting Paper
Number of pages: 52 Posted: 28 Sep 2005
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 6,382 (932)
Citation 148

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Earnings Management, Sarbanse-Oxley Act, Executive Compensation

Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods

NYU Working Paper No. 2451/27548
Number of pages: 52 Posted: 08 Oct 2008
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 522 (50,590)
Citation 148

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Real and Accrual-Based Earnings Management in the Pre- and Post-Sarbanes Oxley Periods

Accounting Review, Forthcoming
Posted: 26 Oct 2007
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management

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Earnings Management, Real Earnings Management, Sarbanes Oxley Act, Executive Compensation

3.

Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods

Downloads 5,205 ( 1,335)
Citation 46

Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods

Number of pages: 44 Posted: 09 Jan 2004
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 4,794 (1,530)
Citation 46

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Earnings Management, Sarbanes Oxley Act

Trends in Earnings Management and Informativeness of Earnings Announcements in the Pre- and Post-Sarbanes Oxley Periods

NYU Working Paper No. 2451/27545
Number of pages: 44 Posted: 08 Oct 2008
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 411 (68,124)
Citation 45

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4.

The Financial Reporting Environment: Review of the Recent Literature

Number of pages: 150 Posted: 06 Oct 2009 Last Revised: 13 Aug 2010
Anne Beyer, Daniel A. Cohen, Thomas Z. Lys and Beverly R. Walther
Stanford University - Graduate School of Business, University of Texas at Dallas - Naveen Jindal School of Management, Northwestern University - Kellogg School of Management and Northwestern University - Department of Accounting Information & Management
Downloads 4,422 (1,795)
Citation 88

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Financial Reporting, Information Environment, Disclosure, Analyst Forecasts

5.

Bridging the Gap between Value Relevance and Information Content

Sauder School of Business Working Paper
Number of pages: 42 Posted: 10 Jan 2001
Kin Lo and Thomas Z. Lys
University of British Columbia (UBC) - Sauder School of Business and Northwestern University - Kellogg School of Management
Downloads 3,963 (2,181)
Citation 17

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Valuation, capital markets, relevance of accounting information, information content

6.

Empirical Research on Accounting Choice

Downloads 3,870 ( 2,270)
7.

The Sarbanes Oxley Act of 2002: Implications for Compensation Contracts and Managerial Risk-Taking

Downloads 3,411 ( 2,811)
Citation 25

The Sarbanes Oxley Act of 2002: Implications for Compensation Contracts and Managerial Risk-Taking

Number of pages: 44 Posted: 26 Jul 2004 Last Revised: 24 Apr 2008
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 3,035 (3,383)
Citation 25

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Sarbanes Oxley Act, Executive Compensation, Incentives, Regulation

The Sarbanes Oxley Act of 2002: Implications for Compensation Contracts and Managerial Risk-Taking

NYU Working Paper No. 2451/27546
Number of pages: 44 Posted: 08 Oct 2008
Daniel A. Cohen, Aiyesha Dey and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School and Northwestern University - Kellogg School of Management
Downloads 376 (75,629)
Citation 25

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8.

Conservatism, Analyst Ability, and Forecast Error: Evidence on Financial Statement Users' Ability to Account for Conservatism

Number of pages: 48 Posted: 23 Nov 2007 Last Revised: 23 Oct 2014
Henock Louis, Thomas Z. Lys and Amy X. Sun
Pennsylvania State University - Smeal College of Business, Northwestern University - Kellogg School of Management and University of Houston
Downloads 2,278 (5,603)
Citation 6

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Accounting conservatism, analyst forecast error

9.

Use of R-Squared in Accounting Research: Measuring Changes in Value Relevance Over the Last Four Decades

Downloads 2,141 ( 6,207)

Use of R-Squared in Accounting Research: Measuring Changes in Value Relevance Over the Last Four Decades

Sauder School of Business Working Paper
Number of pages: 45 Posted: 08 Dec 1998
Stephen Brown, Kin Lo and Thomas Z. Lys
University of Maryland - Department of Accounting & Information Assurance, University of British Columbia (UBC) - Sauder School of Business and Northwestern University - Kellogg School of Management
Downloads 2,141 (6,087)
Citation 125

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Use of R-Squared in Accounting Research: Measuring Changes in Value Relevance Over the Last Four Decades

Journal of Accounting & Economics, Vol 28, No 2, January 2000
Posted: 24 Jan 2000
Stephen Brown, Kin Lo and Thomas Z. Lys
University of Maryland - Department of Accounting & Information Assurance, University of British Columbia (UBC) - Sauder School of Business and Northwestern University - Kellogg School of Management

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10.

The Nature and Implications of Acquisition Goodwill

Number of pages: 54 Posted: 05 Apr 2011 Last Revised: 15 Mar 2012
Thomas Z. Lys, Linda Vincent and Nir Yehuda
Northwestern University - Kellogg School of Management, Northwestern University and University of Texas at Dallas - Department of Accounting & Information Management
Downloads 1,625 (9,893)
Citation 2

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goodwill, acquistion

11.

The Internet Downturn: Finding Valuation Factors in Spring 2000

Downloads 1,530 ( 10,892)
Citation 28

The Internet Downturn: Finding Valuation Factors in Spring 2000

JAE Boston Conference June 2001
Number of pages: 51 Posted: 11 Mar 2001
Elizabeth K. Keating, Thomas Z. Lys and Robert P. Magee
Harvard University - John F. Kennedy School of Government, Northwestern University - Kellogg School of Management and Northwestern University
Downloads 1,530 (10,689)
Citation 28

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Valuation, internet firms, stock options, earnings, cash flows

The Internet Downturn: Finding Valuation Factors in Spring 2000

Journal of Accounting and Economics, Vol. 34, Nos. 1-3, pp. 189-236, January 2003
Posted: 05 Feb 2003
Elizabeth K. Keating, Thomas Z. Lys and Robert P. Magee
Harvard University - John F. Kennedy School of Government, Northwestern University - Kellogg School of Management and Northwestern University

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valuation, internet firms, stock options, earnings, cash flows

12.

An Examination of the Impact of the Sarbanes-Oxley Act on the Attractiveness of US Capital Markets for Foreign Firms

Review of Accounting Studies, Forthcoming
Number of pages: 43 Posted: 09 Jan 2007 Last Revised: 08 May 2012
Peter Hostak, Emre Karaoglu, Thomas Z. Lys and Yong George Yang
University of Massachusetts Dartmouth - Charlton College of Business, Columbia University - Columbia Business School, Northwestern University - Kellogg School of Management and The Chinese University of Hong Kong (CUHK) - Faculty of Business Administration
Downloads 1,372 (13,003)
Citation 21

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Sarbanes-Oxley Act, Delisting, Cross-listing

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14.

Signaling Through Corporate Accountability Reporting

Number of pages: 44 Posted: 07 Sep 2012 Last Revised: 31 Mar 2015
Thomas Z. Lys, James P. Naughton and Clare Wang
Northwestern University - Kellogg School of Management, Northwestern University - Kellogg School of Management and University of Iowa - Tippie College of Business
Downloads 1,004 (20,937)
Citation 2

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Corporate Accountability Reporting, Corporate Social Responsibility, Voluntary Disclosure, Signaling

15.

Experience, Expertise and the Forecasting Performance of Security Analysts

Number of pages: 48 Posted: 26 Jan 1998
John Jacob, Thomas Z. Lys and Margaret Neale
University of Colorado at Boulder - Department of Accounting, Northwestern University - Kellogg School of Management and Stanford Graduate School of Business
Downloads 768 (30,667)
Citation 112

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16.

Earnings Announcement Premia and the Limits to Arbitrage

Downloads 744 ( 32,072)
Citation 27

Earnings Announcement Premia and the Limits to Arbitrage

Number of pages: 50 Posted: 04 Jan 2005
Daniel A. Cohen, Aiyesha Dey, Thomas Z. Lys and Shyam V. Sunder
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School, Northwestern University - Kellogg School of Management and University of Arizona - Department of Accounting
Downloads 628 (39,669)
Citation 27

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Earnings announcements, risk, diversification, risk-return tradeoff, limits to arbitrage

Earnings Announcement Premia and the Limits to Arbitrage

NYU Working Paper No. 2451/27555
Number of pages: 50 Posted: 08 Oct 2008
Daniel A. Cohen, Aiyesha Dey, Thomas Z. Lys and Shyam V. Sunder
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School, Northwestern University - Kellogg School of Management and University of Arizona - Department of Accounting
Downloads 116 (234,898)
Citation 27

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Earnings Announcement Premia and the Limits to Arbitrage

Forthcoming, Journal of Accounting & Economics (JAE)
Posted: 09 Apr 2007
Daniel A. Cohen, Aiyesha Dey, Thomas Z. Lys and Shyam V. Sunder
University of Texas at Dallas - Naveen Jindal School of Management, Harvard Business School, Northwestern University - Kellogg School of Management and University of Arizona - Department of Accounting

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Earnings Announcements, Announcement Premium, Preannouncements

17.

A Note on Analysts' Earnings Forecast Errors Distribution

Downloads 680 ( 36,208)
Citation 10

A Note on Analysts' Earnings Forecast Errors Distribution

JAE Boston Conference October 2002
Number of pages: 31 Posted: 21 Nov 2003
Daniel A. Cohen and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management and Northwestern University - Kellogg School of Management
Downloads 588 (43,356)
Citation 10

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Analysts' forecasts, analysts' bias, analysts' under/overreaction to information, analysts' loss function, discretionary accruals.

A Note on Analysts' Earnings Forecast Errors Distribution

NYU Working Paper No. 2451/27553
Number of pages: 31 Posted: 08 Oct 2008
Daniel A. Cohen and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management and Northwestern University - Kellogg School of Management
Downloads 92 (275,944)
Citation 10

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Analysts forecasts, analysts bias, analysts under/overreaction to information, analysts loss function, discretionary accruals

A Note on Analysts' Earnings Forecast Errors Distribution

Journal of Accounting & Economics, Vol. 36, No. 1-3, pp. 147-164, December 2003
Posted: 07 Jan 2004
Daniel A. Cohen and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management and Northwestern University - Kellogg School of Management

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18.

Weighing the Evidence on the Relation between External Corporate Financing Activities, Accruals and Stock Returns

Downloads 638 ( 39,381)
Citation 6

Weighing the Evidence on the Relation between External Corporate Financing Activities, Accruals and Stock Returns

Journal of Accounting & Economics (JAE), Vol. 42, pp. 87-105, 2006
Number of pages: 30 Posted: 24 Apr 2006
Daniel A. Cohen and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management and Northwestern University - Kellogg School of Management
Downloads 511 (51,930)
Citation 6

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External financing, Analysts' forecasts, Accruals, Capital Markets, Market Efficiency

Weighing the Evidence on the Relation between External Corporate Financing Activities, Accruals and Stock Returns

NYU Working Paper No. 2451/27556
Number of pages: 30 Posted: 08 Oct 2008
Daniel A. Cohen and Thomas Z. Lys
University of Texas at Dallas - Naveen Jindal School of Management and Northwestern University - Kellogg School of Management
Downloads 127 (219,233)
Citation 6

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External financing, Analysts forecasts, Accruals, Capital Markets, Market Efficiency

19.

The Paradoxical Impact of Corporate Inversions on US Tax Revenue

Number of pages: 69 Posted: 21 Apr 2015 Last Revised: 23 Aug 2016
Rita Gunn and Thomas Z. Lys
Owen Graduate School of Management - Vanderbilt University and Northwestern University - Kellogg School of Management
Downloads 526 (50,847)

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Cash, Tax, Mergers and Acquisitions

20.

Inferring Accounting Information from Corporate Financing Choices: An Examination of Security Issuances in the Banking Industry

Number of pages: 39 Posted: 21 Nov 2000
Marguerite L. Bishop and Thomas Z. Lys
University of Pennsylvania - Accounting Department and Northwestern University - Kellogg School of Management
Downloads 460 (60,002)
Citation 1

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Banks, capital regulation, security issuances, accounting

21.

Do Acquisitions of Private Targets Create Higher Value? The Role of Intangible Assets Acquired

Number of pages: 53 Posted: 02 Nov 2012 Last Revised: 01 Mar 2017
Thomas Z. Lys and Nir Yehuda
Northwestern University - Kellogg School of Management and University of Texas at Dallas - Department of Accounting & Information Management
Downloads 402 (70,630)

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mergers and acquisitions, synergies, premium

22.

Do Acquisitions of Private Targets Create Higher Value?

Number of pages: 46 Posted: 02 Dec 2016
Thomas Z. Lys and Nir Yehuda
Northwestern University - Kellogg School of Management and University of Texas at Dallas - Department of Accounting & Information Management
Downloads 201 (147,702)

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Private Targets, Intangibles

23.

Endogenous Entry/Exit as an Alternative Explanation for the Disciplining Role of Independent Analysts

Number of pages: 15 Posted: 13 Nov 2007
Thomas Z. Lys and Jayanthi Sunder
Northwestern University - Kellogg School of Management and University of Arizona - Eller College of Management
Downloads 123 (223,739)
Citation 3

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independent analysts, forecast accuracy, endogenous entry

24.

Discretionary Accounting Choices and the Predictive Ability of Accruals with Respect to Future Cash Flows

Journal of Accounting & Economics (JAE), 2012
Posted: 15 Oct 2007 Last Revised: 08 Feb 2012
Brad A. Badertscher, Daniel W. Collins and Thomas Z. Lys
University of Notre Dame, University of Iowa - Department of Accounting and Northwestern University - Kellogg School of Management

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Discretionary Accruals, Earnings Management, Restatements, Cash Flow, Predictive Ability of Accruals

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26.

Lawsuits Against Auditors

Working Paper No FR 93-09
Posted: 08 May 1995
Thomas Z. Lys and Ross L. Watts
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management

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