Designed to develop an understanding of accounting principles for users
of accounting information. The course looks at how users of financial
information interpret accounting reports when making business decisions.
The emphasis is on profitability concepts and performance evaluation.
Coverage is not restricted to the existing U.S. model but includes a
broad discussion of measurement issues and alternative country
Professor Kalay's research explores how investors use various sources of information, specifically corporate disclosure and accounting information. In this context, his research broadly focuses on:  Different types of corporate disclosure, and their role in the sophistication of the investor base;  Aggregate earnings and uncertainty, and their relation to macroeconomic activity; and  Bond contract design and debt pricing.
Professor Kalay holds a...