Moritz Hiemann
Assistant Professor
Accounting
BS, Babson College, 2005; PhD, Stanford, 2013
Joined CBS in 2013
Office:
617
Uris
Phone:
212-854-8659
E-mail:
[email protected]
Fax:
212-316-9219
Curriculum Vitae
Biography
Professor Hiemann joined the Columbia faculty in the summer of 2013. He teaches financial accounting in the MBA program. His research examines the role of accounting in both managerial and financial reporting applications, including financial contracting and business valuation. In his current research, he develops a model for the optimal design of accounting-based debt covenants in the context of an asset substitution problem. The model implies several properties of accounting rules in efficiently designed debt contracts and proposes a unique optimal balancing of decision rights and interest rates. Accounting-based covenants can reduce the economic cost of debt financing, which has implications for firms' capital structure decisions. In the arena of business valuation, his research is concerned with the relationship between accounting rules, information and economic value. In particular, his interest lies in studying how inferences from valuation models are affected by the interaction of firms' economic properties and their financial accounting practices, and how valuation models should be adapted to both. Professor Hiemann holds a Ph.D. in business administration from Stanford University. Prior to his doctoral studies, he worked as a senior auditor at Ernst & Young LLP.
Teaching
Fall 2020
Accounting I: Financial Accounting
(MBA)
Fall 2019
Accounting I: Financial Accounting
(MBA)
Fall 2018
Accounting I: Financial Accounting
(MBA)
Fall 2017
Accounting I: Financial Accounting
(MBA)
Spring 2017
Accounting I: Financial Accounting
(MBA)
Spring 2016
Independent Study - 3 credits
(MBA)
Independent Study - 1.5 credits
(MBA)
Research
Journal articles
Earnings and Firm Value in the Presence of Real Options
In The Accounting Review
(2020)
Coauthor(s): Moritz Hiemann
Chapters
Transfer Pricing in Multinational Corporations: An Integrated Management- and Tax Perspective
In Fundamentals of International Transfer Pricing in Law and Economics
(2012)
Coauthor(s): Moritz Hiemann, Stefan Reichelstein
Working papers
A Life Cycle Model of Firm Value
(2020)
Coauthor(s): Moritz Hiemann
Accounting for Owners' Capital
(2020)
Coauthor(s): Moritz Hiemann
Accrual Accounting in Performance Measurement and the Separation of Ownership and Control
(2020)
Coauthor(s): Moritz Hiemann
Covenants, Interest Rates, and the Cost of Debt
(2020)
Coauthor(s): Moritz Hiemann
Accounting Rules for Debt Covenants
(2015)
Coauthor(s): Moritz Hiemann
Investment Kernels, Accounting Data and Intrinsic Value
(2015)
Coauthor(s): Moritz Hiemann, Maureen McNichols, Stefan Reichelstein
The Diversification Discount: Fundamentals or Accounting Rules?
(2015)
Coauthor(s): Moritz Hiemann, Maureen McNichols, Stefan Reichelstein