Valeri V. Nikolaev

University of Chicago Booth School of Business

Associate Professor of Accounting

5807 South Woodlawn Avenue

Chicago, IL 60637

United States

http://faculty.chicagobooth.edu/valeri.nikolaev/index.html

SCHOLARLY PAPERS

25

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36,196

SSRN CITATIONS
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Top 2,115

in Total Papers Citations

283

CROSSREF CITATIONS

330

Scholarly Papers (25)

Does Fair Value Accounting for Non-Financial Assets Pass the Market Test?

Review of Accounting Studies, Forthcoming
Number of pages: 50 Posted: 17 Sep 2008 Last Revised: 27 Feb 2013
Hans Bonde Christensen and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 5,727 (1,552)
Citation 3

Abstract:

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Fair Value, IFRS, Non-Financial Assets, Illiquid Assets

Does Fair Value Accounting for Non-Financial Assets Pass the Market Test?

Chicago Booth Research Paper No. 13-10
Number of pages: 52 Posted: 13 Feb 2013 Last Revised: 07 Jun 2013
Hans Bonde Christensen and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 513 (65,988)
Citation 14

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fair value, IFRS, non-financial assets, illiquid assets

Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism

Chicago Booth Research Paper No. 09-16
Number of pages: 36 Posted: 13 Jul 2007 Last Revised: 19 Feb 2013
Ray Ball, S.P. Kothari and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Chicago Booth School of Business
Downloads 5,443 (1,690)
Citation 42

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conditional conservatism, asymmetric timeliness, earnings

Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism

Journal of Accounting Research, Forthcoming, Chicago Booth Research Paper No. 13-65
Number of pages: 37 Posted: 02 Aug 2013
Ray Ball, S.P. Kothari and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Chicago Booth School of Business
Downloads 535 (62,596)
Citation 9

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Conditional conservatism, Timely loss recognition, Basu model, Returns-earnings regressions, Earning respnse coefficients, Market-to-book ratio

Econometrics of the Basu Asymmetric Timeliness Coefficient and Accounting Conservatism

Journal of Accounting Research, Vol. 51, No. 5, 2013
Posted: 28 Nov 2013
Ray Ball, S.P. Kothari and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Chicago Booth School of Business

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conditional conservatism, asymmetric timeliness, earnings

3.

Accruals, Cash Flows, and Operating Profitability in the Cross Section of Stock Returns

Journal of Financial Economics (JFE), Forthcoming, Fama-Miller Working Paper, Chicago Booth Research Paper No. 15-12
Number of pages: 47 Posted: 01 Apr 2015 Last Revised: 21 Sep 2015
Ray Ball, Joseph Gerakos, Juhani T. Linnainmaa and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Tuck School of Business at Dartmouth College, Dartmouth College - Tuck School of Business and University of Chicago Booth School of Business
Downloads 3,316 (4,051)
Citation 44

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Operating profitability, Accruals, Cash flows, Anomalies, Asset pricing

4.

Identifying Accounting Quality

Chicago Booth Research Paper No. 14-28
Number of pages: 62 Posted: 23 Aug 2014 Last Revised: 15 Jan 2019
Valeri V. Nikolaev
University of Chicago Booth School of Business
Downloads 3,123 (4,498)
Citation 16

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Accounting quality, Earnings quality, Accruals, Identification, Estimation error

5.

Deflating Profitability

Journal of Financial Economics (JFE), Volume 117, Issue 2, pp. 225-248, Fama-Miller Working Paper, Chicago Booth Research Paper No. 14-10
Number of pages: 55 Posted: 27 Mar 2014 Last Revised: 12 Dec 2015
Ray Ball, Joseph Gerakos, Juhani T. Linnainmaa and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Tuck School of Business at Dartmouth College, Dartmouth College - Tuck School of Business and University of Chicago Booth School of Business
Downloads 2,610 (6,084)
Citation 40

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Gross profitability, operating profitability, asset pricing, deflators, earnings anomalies

6.

Agency Theory of Overvalued Equity as an Explanation for the Accrual Anomaly

CentER Discussion Paper Series No. 2006-103
Number of pages: 64 Posted: 28 Dec 2005
S.P. Kothari, Elena Loutskina and Valeri V. Nikolaev
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Virginia - Darden School of Business and University of Chicago Booth School of Business
Downloads 2,213 (7,971)
Citation 45

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accrual anomaly; earnings management; agency theory of overvalued equity

7.

Earnings, Retained Earnings, and Book-to-Market in the Cross Section of Expected Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 66 Posted: 01 Mar 2017 Last Revised: 20 Jan 2019
Ray Ball, Joseph Gerakos, Juhani T. Linnainmaa and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Tuck School of Business at Dartmouth College, Dartmouth College - Tuck School of Business and University of Chicago Booth School of Business
Downloads 1,987 (9,509)
Citation 17

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G11, G12, M41

8.

On Estimating Conditional Conservatism

Forthcoming, The Accounting Review, Chicago Booth Research Paper No. 11-09
Number of pages: 56 Posted: 12 Feb 2011 Last Revised: 03 Dec 2012
Ray Ball, S.P. Kothari and Valeri V. Nikolaev
University of Chicago - Booth School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Chicago Booth School of Business
Downloads 1,927 (9,992)
Citation 46

Abstract:

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conditional conservatism, asymmetric timeliness, earnings

9.

Debt Covenants and Accounting Conservatism

Journal of Accounting Research, Vol. 48, No. 1
Number of pages: 41 Posted: 21 Jan 2008 Last Revised: 29 Aug 2010
Valeri V. Nikolaev
University of Chicago Booth School of Business
Downloads 1,489 (15,027)
Citation 19

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contracting demands, timely loss recognition, covenants, debt contracts

10.

Capital Versus Performance Covenants in Debt Contracts

Chicago Booth Research Paper No. 11-06
Number of pages: 57 Posted: 26 Jan 2011 Last Revised: 03 Jun 2014
Hans Bonde Christensen and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 1,308 (18,390)
Citation 19

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accounting-based covenants, private debt, financial contract design

Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective

Journal of Accounting Research, 54, 2016
Number of pages: 59 Posted: 13 Oct 2015 Last Revised: 10 Jun 2016
University of Chicago - Booth School of Business, University of Chicago Booth School of Business and University of Southern California
Downloads 823 (35,395)
Citation 37

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Financial contracting, incomplete contracts, accounting-based covenants, control allocation, contracting on accounting information

Accounting Information in Financial Contracting: The Incomplete Contract Theory Perspective

Journal of Accounting Research, Vol. 54, No. 2, 2016
Posted: 15 Jul 2016
University of Chicago - Booth School of Business, University of Southern California and University of Chicago Booth School of Business

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financial contracting, incomplete contracts, accounting-based covenants, control allocation, contracting on accounting information

The Endogeneity Bias in the Relation between Cost-of-Debt Capital and Corporate Disclosure Policy

CentER Discussion Paper No. 2005-67
Number of pages: 58 Posted: 02 Jun 2005
Valeri V. Nikolaev and Laurence van Lent
University of Chicago Booth School of Business and Frankfurt School of Finance and Management
Downloads 663 (47,560)
Citation 10

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Disclosure policy, cost-of-debt capital, endogeneity

The Endogeneity Bias in the Relation between Cost-of-Debt Capital and Corporate Disclosure Policy

European Accounting Review, No. 4, pp. 677-724, 2005
Number of pages: 57 Posted: 05 Aug 2005 Last Revised: 10 Jan 2012
Valeri V. Nikolaev and Laurence van Lent
University of Chicago Booth School of Business and Frankfurt School of Finance and Management
Downloads 66 (412,536)

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Disclosure policy, cost-of-debt capital, endogeneity

Contracting on GAAP Changes: Large Sample Evidence

Chicago Booth Research Paper No. 13-66
Number of pages: 41 Posted: 02 Aug 2013 Last Revised: 01 Mar 2017
Hans Bonde Christensen and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 671 (46,832)
Citation 8

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Standard setting, GAAP changes, debt contracting, incomplete contract theory

Contracting on GAAP Changes: Large Sample Evidence

Journal of Accounting Research, Vol. 55, No. 5, 2017
Posted: 12 Mar 2018
Hans Bonde Christensen and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business

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standard setting; GAAP changes; debt contracting; incomplete contracts theory

14.

Firm-level Political Risk and Credit Markets

Number of pages: 59 Posted: 12 Jun 2019 Last Revised: 18 May 2021
Mahmoud Gad, Valeri V. Nikolaev, Ahmed Tahoun and Laurence van Lent
Lancaster University - Lancaster University Management School, University of Chicago Booth School of Business, London Business School and Frankfurt School of Finance and Management
Downloads 629 (51,608)
Citation 3

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credit markets, political risk, financial institutions

15.

Scope for Renegotiation in Private Debt Contracts

Chicago Booth Research Paper No. 15-15
Number of pages: 64 Posted: 02 Mar 2012 Last Revised: 01 Nov 2016
Valeri V. Nikolaev
University of Chicago Booth School of Business
Downloads 620 (52,598)
Citation 18

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Debt contract renegotiation, contracting costs, monitoring, creditor control rights.

16.

Financial Shocks to Lenders and the Composition of Financial Covenants

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 57 Posted: 05 Dec 2017 Last Revised: 10 Jun 2021
University of Chicago - Booth School of Business, University of Miami Herbert Business School, Hong Kong University of Science & Technology (HKUST) - Department of Accounting and University of Chicago Booth School of Business
Downloads 508 (67,470)

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accounting-based covenants, debt contracting, financial market frictions

17.

FASB was Right: Earnings Beat Cash Flows when Predicting Future Cash Flows

Chicago Booth Research Paper No. 20-23
Number of pages: 66 Posted: 11 Sep 2020 Last Revised: 31 Dec 2020
Ray Ball and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 438 (80,872)
Citation 1

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Operating Cash Flow, forecasts, predictive ability, earnings, FASB, accruals, informativeness

18.

Expected Loan Loss Provisioning: An Empirical Model

Chicago Booth Research Paper No. 19-11
Number of pages: 63 Posted: 01 Mar 2019 Last Revised: 18 May 2021
Yao Lu and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 379 (95,706)
Citation 6

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Expected long-term credit losses, CECL, prediction, aggregate credit losses, expected loss overhang

19.

Disproportional Control Rights and the Bonding Role of Debt

Number of pages: 52 Posted: 04 Dec 2009
Aiyesha Dey, Xue Wang and Valeri V. Nikolaev
Harvard Business School, Ohio State University - Fisher College of Business and University of Chicago Booth School of Business
Downloads 294 (126,469)
Citation 2

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corporate governance, dual-class ownership, disproportional control, debt financing, capital structure, Tobin’s q

20.
Downloads 248 (150,581)

Accounting Measurement Intensity

Chicago Booth Research Paper No. 20-17
Number of pages: 81 Posted: 30 Jun 2020 Last Revised: 12 Dec 2020
Frankfurt School of Finance & Management, Frankfurt School of Finance and Management, University of Chicago Booth School of Business and Shanghai University of Finance and Economics
Downloads 199 (185,450)

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metering problem, accounting measurement, stewardship, theory of the firm, productivity, contracts

Accounting Measurement Intensity

TRR 266 Accounting for Transparency Working Paper Series No. 30
Number of pages: 78 Posted: 28 May 2021 Last Revised: 02 Jun 2021
Frankfurt School of Finance & Management, Frankfurt School of Finance and Management, University of Chicago Booth School of Business and Shanghai University of Finance and Economics
Downloads 49 (476,726)

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metering problem, accounting measurement, stewardship, theory of the firm

21.

Disproportional Control Rights and the Governance Role of Debt

Management Science, Forthcoming
Number of pages: 58 Posted: 29 Apr 2015
Aiyesha Dey, Valeri V. Nikolaev and Xue Wang
Harvard Business School, University of Chicago Booth School of Business and Ohio State University - Fisher College of Business
Downloads 191 (192,574)

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dual class; capital structure; relationship lending; debt covenants

22.

Disproportional Control and Insider Entrenchment: Evidence from Capital Structure Choices and Institutional Investment

Number of pages: 55 Posted: 02 Sep 2009
Aiyesha Dey, Valeri V. Nikolaev and Xue Wang
Harvard Business School, University of Chicago Booth School of Business and Ohio State University - Fisher College of Business
Downloads 155 (230,402)
Citation 1

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dual-class, voting control, board control, capital structure, institutional investment

23.

On Earnings and Cash Flows as Predictors of Future Cash Flows

Number of pages: 66 Posted: 11 May 2021
Ray Ball and Valeri V. Nikolaev
University of Chicago - Booth School of Business and University of Chicago Booth School of Business
Downloads 131 (263,528)

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Cash flow, forecasts, earnings, accruals, FASB, cross-sectional estimation

24.

Outside Blockholders’ Monitoring of Management and Debt Financing: An Alternative Perspective.

Contemporary Accounting Research, Forthcoming
Number of pages: 15 Posted: 17 Jun 2015
Valeri V. Nikolaev
University of Chicago Booth School of Business
Downloads 119 (283,039)

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Large shareholders, monitoring structure, private debt, covenants, complementarities.

25.

Discussion of 'Borrower Private Information Covenants and Loan Contract Monitoring'

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 17 Posted: 18 Jul 2017
Valeri V. Nikolaev
University of Chicago Booth School of Business
Downloads 70 (394,766)

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Monitoring, disclosure, information covenants, reporting frequency, contracting on accounting information