Robert E. Verrecchia

University of Pennsylvania - Accounting Department

Ernst & Young Professor of Accounting

3641 Locust Walk

Philadelphia, PA 19104-6365

United States

  • University of Pennsylvania - Accounting Department

    • Email
    • Tel: 215-898-6976
    • Fax: 215-573-2054
SCHOLARLY PAPERS

37

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1,492

CROSSREF CITATIONS

465

Scholarly Papers (37)

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1.

Accounting Information, Disclosure, and the Cost of Capital

Downloads 8,338 ( 1,259)
Citation 126

Accounting Information, Disclosure, and the Cost of Capital

Wharton Financial Institutions Center Working Paper Series #06-20
Number of pages: 47 Posted: 12 Oct 2005
Richard A. Lambert, Christian Leuz and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department
Downloads 8,338 (1,255)
Citation 129

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Cost of capital, disclosure, information risk, asset pricing

Accounting Information, Disclosure, and the Cost of Capital

Journal of Accounting Research, Forthcoming
Posted: 08 Jan 2007
Richard A. Lambert, Christian Leuz and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department

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Cost of capital, disclosure, information risk, asset pricing

2.

The Economic Consequences of Increased Disclosure

Downloads 6,207 ( 2,081)

The Economic Consequences of Increased Disclosure

Number of pages: 63 Posted: 20 Aug 1999
Christian Leuz and Robert E. Verrecchia
University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department
Downloads 6,207 (2,063)
Citation 93

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The Economic Consequences of Increased Disclosure

Journal of Accounting Research 38 (Supplement 2000), pp. 91–124
Posted: 13 Dec 2000 Last Revised: 23 Feb 2013
Christian Leuz and Robert E. Verrecchia
University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department

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disclosure, international accounting, cost of capital, information asymmetry, liquidity

3.

Essays on Disclosure

Downloads 4,835 ( 3,214)
Citation 155

Essays on Disclosure

Number of pages: 123 Posted: 14 Jul 2001
Robert E. Verrecchia
University of Pennsylvania - Accounting Department
Downloads 4,835 (3,178)
Citation 155

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Disclosure; Information asymmetry reduction; Cost of capital

Essays on Disclosure

Posted: 13 Nov 2001
Robert E. Verrecchia
University of Pennsylvania - Accounting Department

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Disclosure; Information asymmetry reduction; Cost of capital

4.

Information Disclosure and Adverse Selection Explanations for IPO Underpricing

Number of pages: 43 Posted: 23 Jun 2002
Catherine M. Schrand and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 3,362 (5,965)
Citation 21

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Disclosure, initial public offerings, cost of capital

5.

Information Asymmetry, Information Precision, and the Cost of Capital

Downloads 3,341 ( 6,021)
Citation 64

Information Asymmetry, Information Precision, and the Cost of Capital

Review of Finance, 2011, Wharton Financial Institutions Center Working Paper No. 06-21
Number of pages: 42 Posted: 11 Oct 2006 Last Revised: 25 Nov 2011
Richard A. Lambert, Christian Leuz and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department
Downloads 3,167 (6,463)
Citation 41

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Information risk, Cost of capital, Expected return, Asset pricing, Disclosure, Rational expectations, Diversification

Information Asymmetry, Information Precision, and the Cost of Capital

NBER Working Paper No. w14881
Number of pages: 44 Posted: 20 Apr 2009 Last Revised: 31 Aug 2022
Richard A. Lambert, Christian Leuz and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department
Downloads 174 (284,389)

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Information Asymmetry, Information Precision, and the Cost of Capital

Review of Finance, Forthcoming
Posted: 26 Apr 2011
Richard A. Lambert, Christian Leuz and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department

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Cost of Capital, Information Asymmetry, Imperfect Competition

6.

Firms' Capital Allocation Choices, Information Quality, and the Cost of Capital

Number of pages: 26 Posted: 06 Feb 2004
Christian Leuz and Robert E. Verrecchia
University of Chicago - Booth School of Business and University of Pennsylvania - Accounting Department
Downloads 3,108 (6,780)
Citation 1

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Cost of capital, Disclosure, Information risk, Asset pricing, Risk premium

7.

Conservative Disclosure

Number of pages: 45 Posted: 22 Jun 2007 Last Revised: 10 Dec 2017
Wayne R. Guay and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 1,969 (13,936)
Citation 49

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financial reporting, conservatism, timeliness of loss and gain recognition, contracting, corporate governance, debt contracts

8.

When Does Information Asymmetry Affect the Cost of Capital?

Journal of Accounting Research, Forthcoming
Number of pages: 56 Posted: 25 Oct 2010 Last Revised: 09 Mar 2015
Chris Armstrong, John E. Core, Daniel J. Taylor and Robert E. Verrecchia
Stanford Graduate School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 1,961 (14,036)
Citation 27

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information asymmetry, cost of capital, market competition, expected returns

9.

Are Performance Measures Other than Price Important to CEO Incentives?

Number of pages: 46 Posted: 20 Apr 2000
John E. Core, Wayne R. Guay and Robert E. Verrecchia
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 1,521 (20,770)
Citation 17

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10.

Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts

Downloads 1,038 (36,306)
Citation 45

Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts

Number of pages: 44 Posted: 30 Aug 2002
John E. Core, Wayne R. Guay and Robert E. Verrecchia
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 1,038 (35,795)
Citation 45

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agency theory, cash pay, total compensation, equity incentives

Price vs. Non-Price Performance Measures in Optimal CEO Compensation Contracts

Posted: 24 Jun 2003
John E. Core, Wayne R. Guay and Robert E. Verrecchia
Massachusetts Institute of Technology (MIT) - Sloan School of Management, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department

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agency theory, cash pay, total compensation, equity incentives

11.

Discussion of an Economic Framework for Conservative Accounting and Bushman and Piotroski (2006)

Number of pages: 31 Posted: 24 Feb 2006
Wayne R. Guay and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 966 (40,177)
Citation 25

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Financial reporting, conservatism, timeliness of loss and gain recognition, international accounting, political and legal institutions, contracting, compensation and incentives, debt contracts

12.

Reporting Bias

Number of pages: 41 Posted: 13 Sep 1998
Paul E. Fischer, Paul E. Fischer and Robert E. Verrecchia
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 835 (49,206)
Citation 60

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13.

Discretionary Disclosure and Manager Horizon: Evidence from Patenting

Review of Accounting Studies, Forthcoming
Number of pages: 60 Posted: 24 Mar 2017 Last Revised: 30 Dec 2019
Stephen Glaeser, Jeremy Michels and Robert E. Verrecchia
University of North Carolina (UNC) at Chapel Hill, Purdue University and University of Pennsylvania - Accounting Department
Downloads 809 (51,383)
Citation 289

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Discretionary disclosure, voluntary disclosure, manager horizon, patents, trade secrets, innovation, research and development

14.

Strategic Disclosure as an Explanation for Asymmetric Return Volatility

Number of pages: 49 Posted: 21 Apr 2004
Jonathan L. Rogers, Catherine M. Schrand and Robert E. Verrecchia
University of Colorado at Boulder - Leeds School of Business, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 798 (52,313)
Citation 8

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Strategic disclosure, bad news, disclosure thresholds, leverage effect

15.

The Economics of Misreporting and the Role of Public Scrutiny

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 66 Posted: 23 Apr 2018 Last Revised: 29 Dec 2021
Delphine Samuels, Daniel J. Taylor and Robert E. Verrecchia
University of Chicago -- Booth School of Business, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 783 (53,669)
Citation 6

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misreporting, misrepresentation, fraud, earnings management, monitoring, valuation, information quality, information environment

16.

Redacted Disclosure

Number of pages: 42 Posted: 13 Jan 2006
Joseph Weber and Robert E. Verrecchia
Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of Pennsylvania - Accounting Department
Downloads 693 (63,125)
Citation 22

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disclosure, cost of capital, bid ask spread, share turnover, depth

17.

Foreign Competition for Shares and the Pricing of Information Asymmetry: Evidence from Equity Market Liberalization

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 67 Posted: 23 Feb 2014 Last Revised: 24 Aug 2018
Karthik Balakrishnan, Rahul Vashishtha and Robert E. Verrecchia
Rice University - Jesse H. Jones Graduate School of Business, Duke University and University of Pennsylvania - Accounting Department
Downloads 478 (100,401)
Citation 5

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Pricing of Information Asymmetry; Cost of Capital; Competition; Information Quality; Foreign Investors

18.

Public Information and Heuristic Trade

Number of pages: 48 Posted: 13 Sep 1998
Paul E. Fischer, Paul E. Fischer and Robert E. Verrecchia
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 434 (112,461)
Citation 15

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19.

Voluntary Disclosure when Private Information and Disclosure Costs are Jointly Determined

Review of Accounting Studies, forthcoming
Number of pages: 47 Posted: 04 Jun 2020 Last Revised: 29 Dec 2021
Jung Min Kim, Daniel J. Taylor and Robert E. Verrecchia
Northwestern University - Kellogg School of Management, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 402 (122,920)
Citation 10

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voluntary disclosure; adverse selection; private information; disclosure costs; proprietary costs; capital investment; major customers

20.

Accounting Alchemy

BIS Working Paper No. 302
Number of pages: 31 Posted: 05 May 2010
Robert E. Verrecchia
University of Pennsylvania - Accounting Department
Downloads 397 (124,721)
Citation 2

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Earnings reporting, heuristic behaviour, fair value, disclosure

21.

Asymmetric Reporting

Journal of Financial Reporting, Forthcoming
Number of pages: 45 Posted: 11 Mar 2015 Last Revised: 05 Sep 2015
Chris Armstrong, Daniel J. Taylor and Robert E. Verrecchia
Stanford Graduate School of Business, The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 389 (127,609)
Citation 9

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asymmetric reporting; reporting precision; the CAPM; Beta; systematic risk; cost of capital

22.

Voluntary Disclosure and the Cost of Capital

Downloads 385 (129,138)
Citation 25

Voluntary Disclosure and the Cost of Capital

Number of pages: 35 Posted: 16 Nov 2013
Greg Clinch and Robert E. Verrecchia
Macquarie Business School and University of Pennsylvania - Accounting Department
Downloads 385 (128,117)
Citation 25

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Cost of capital, voluntary disclosure

Voluntary Disclosure and the Cost of Capital

Australian Journal of Management, Vol. 40, No. 2, 2015
Posted: 06 Jun 2015
Greg Clinch and Robert E. Verrecchia
Macquarie Business School and University of Pennsylvania - Accounting Department

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cost of capital, voluntary disclosure

23.

Aggregate Corporate Tax Avoidance and Cost of Capital

Number of pages: 42 Posted: 05 Sep 2020
Stephanie Sikes and Robert E. Verrecchia
University of Illinois at Chicago - College of Business Administration and University of Pennsylvania - Accounting Department
Downloads 344 (146,277)
Citation 2

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Corporate Tax Avoidance, Cost of Capital, Expected Rate of Return, Risk-Sharing

24.

Liquidity, Trade, and Investor-Identity Disclosure

Number of pages: 56 Posted: 28 Feb 2022 Last Revised: 11 Nov 2022
Robert E. Verrecchia and Christina Zhu
University of Pennsylvania - Accounting Department and University of Pennsylvania - The Wharton School
Downloads 312 (162,772)

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transparency regulation, trading volume, bid-ask spreads, sophisticated investors, short selling

25.

The Viability of Heuristics in Expert Judgement

Number of pages: 37 Posted: 15 Oct 1998
Paul E. Fischer, Paul E. Fischer and Robert E. Verrecchia
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 291 (174,647)

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26.

Economic Consequences of Idiosyncratic Information in Diversified Markets

Chicago Booth Research Paper No. 12-09
Number of pages: 36 Posted: 21 Feb 2012
Pingyang Gao and Robert E. Verrecchia
HKU Business School and University of Pennsylvania - Accounting Department
Downloads 226 (224,452)
Citation 6

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Cost of capital, moral hazard, systematic and idiosyncratic risk

27.

Bias and the Commitment to Disclosure

Forthcoming in Management Science
Number of pages: 37 Posted: 24 Jul 2015
Mirko Stanislav Heinle and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 223 (227,276)
Citation 6

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committed disclosure, earnings guidance, bias, multiple firms

28.

Delegated Trade and the Pricing of Public and Private Information

Journal of Accounting & Economics (JAE), Forthcoming
Number of pages: 61 Posted: 11 Mar 2015 Last Revised: 30 Aug 2015
Daniel J. Taylor and Robert E. Verrecchia
The Wharton School, University of Pennsylvania and University of Pennsylvania - Accounting Department
Downloads 202 (249,077)
Citation 5

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delegated trade; institutional investors; imperfect competition; risk premium; expected returns; information quality; accounting quality; idiosyncratic risk; asset pricing tests

29.

Beliefs-Driven Price Association

Forthcoming in Journal of Accounting & Economics (JAE)
Number of pages: 41 Posted: 20 Jun 2015 Last Revised: 24 Jul 2015
Paul E. Fischer, Paul E. Fischer, Mirko Stanislav Heinle and Robert E. Verrecchia
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania, University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department
Downloads 185 (269,604)
Citation 2

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Higher-Order-Beliefs, Earnings Response, Price Volatility, Pricing Bubbles

30.

Intertemporal Tax Discontinuities

NBER Working Paper No. w7451
Number of pages: 35 Posted: 30 Mar 2000 Last Revised: 12 Nov 2022
Douglas A. Shackelford and Robert E. Verrecchia
University of North Carolina Kenan-Flagler Business School and University of Pennsylvania - Accounting Department
Downloads 61 (580,109)

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31.

Risk-Factor Disclosure and Asset Prices

The Accounting Review, Forthcoming
Posted: 13 Feb 2018
Mirko Stanislav Heinle, Kevin Smith and Robert E. Verrecchia
University of Pennsylvania - Accounting Department, Stanford University Graduate School of Business and University of Pennsylvania - Accounting Department

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Factor loading, disclosure, capital markets

32.

Liquidity, Investor-Level Tax Rates, and Expected Rates of Return

2012 American Taxation Association Midyear Meeting: Research-In-Process
Posted: 13 Feb 2012
Stephanie A. Sikes and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department

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33.

Capital Gains Taxes and Expected Rates of Return

The Accounting Review, Vol. 87, No. 3, May 2012
Posted: 01 Oct 2011 Last Revised: 25 Jan 2014
Stephanie A. Sikes and Robert E. Verrecchia
University of Pennsylvania - Accounting Department and University of Pennsylvania - Accounting Department

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Taxes, Asset Pricing, Expected Return

34.

Financial Reporting System Choice and Disclosure Management

Posted: 26 Apr 2004
Phillip C. Stocken and Robert E. Verrecchia
Dartmouth College - Tuck School of Business and University of Pennsylvania - Accounting Department

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Financial reporting system choice, reporting discretion, non-financial measures, resource allocation efficiency

35.

The Relation Among Disclosure, Returns, and Trading Volume Information

Posted: 12 Jun 2001
Oliver Kim and Robert E. Verrecchia
University of Maryland and University of Pennsylvania - Accounting Department

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Disclosure; Trading volume information; Asset pricing

36.

Analysts' Forecasts as Proxies for Investor Beliefs in Empirical Research

Posted: 23 Jul 1999
Jeffery S. Abarbanell, William N. Lanen and Robert E. Verrecchia
University of North Carolina (UNC) at Chapel Hill - Finance Area, University of Michigan, Stephen M. Ross School of Business and University of Pennsylvania - Accounting Department

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37.

The Effect of Limited Liability on the Market Response to Disclosure

Posted: 19 Mar 1997
Paul E. Fischer, Paul E. Fischer and Robert E. Verrecchia
University of Pennsylvania - Accounting DepartmentUniversity of Pennsylvania and University of Pennsylvania - Accounting Department

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