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David F. Larcker

DavidF.Larcker
James Irvin Miller Professor of Accounting
Professor of Law (by courtesy), Stanford Law School
Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford
Academic Area: 
Accounting

Research Statement

Professor Larcker’s research focuses on executive compensation, corporate governance, and managerial accounting. His work examines the choice of performance measures and compensation contracts in organizations. He has current research projects on the valuation implications of corporate governance, the impact of proxy advisory firms on shareholder proxy voting and modeling the cost of executive stock options.

Bio

Professor Larcker presently holds the James Irvin Miller Professorship. He is the director of the Corporate Governance Research Initiative at the Stanford Graduate School of Business and senior faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University. Professor Larcker was previously the Ernst & Young Professor of accounting at the Wharton School of the University of Pennsylvania and Professor of accounting and information systems at the Kellogg Graduate School of Management at Northwestern University. He received his PhD in Business from the University of Kansas and his BS and MS in Engineering from the University of Missouri- Rolla.

He is on the editorial boards of the Journal of Accounting and Economics, Journal of Accounting Research, Accounting, Organizations and Society, Journal of Accounting and Public Policy, Journal of Applied Corporate Finance. Professor Larcker received the Notable Contribution to Managerial Accounting Research in 2001.

Academic Degrees

  • PhD, University of Kansas, 1978
  • MS, University of Missouri-Rolla, 1974
  • BS, University of Missouri-Rolla, 1972

Academic Appointments

  • At Stanford University since 2005
  • Ernst & Young Professor of Accounting, The Wharton School, University of Pennsylvania, 1985-2005
  • Assistant Professor - Professor, J.L. Kellogg Graduate School of Management, Northwestern University, 1978-1985

Awards and Honors

  • Winnick Family Faculty Fellow, Stanford GSB, 2013-2014
  • Notable Contribution to Managerial Accounting Research, 2001
  • PhD Faculty Distinguished Service Award, Stanford GSB, 2010

Publications

Journal Articles

Christopher S. Armstrong, Jennifer L. Blouina, Alan D. Jagolinzer, David F. Larcker. Journal of Accounting and Economics. August 2015, Vol. 60, Issue 1, Pages 1 – 17.
David F. Larcker, Allan L. McCall, Gaizka Ormazabal. Journal of Law and Economics. February 2015, Vol. 58, Issue 1, Pages 173-204.
Christopher S. Armstrong, Ian D. Gow, David F. Larcker. Journal of Accounting Research. December 2013, Vol. 51, Issue 5, Pages 909-950.
David F. Larcker, Allan L. McCall, Gaizka Ormazabal. Journal of Accounting and Economics. November 2013, Vol. 56, Issue 2–3, Pages 149–169.
Christopher S. Armstrong, David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor. Journal of Financial Economics. August 2013, Vol. 109 , Issue 2, Pages 327–350.
David F. Larcker, Eric C. So, Charles C.Y. Wang. Journal of Accounting & Economics. April 2013, Vol. 55, Issue 2–3, Pages 225–250.
Christopher S. Armstrong, Christopher D. Ittner, David F. Larcker. Review of Accounting Studies. June 2012, Vol. 17, Issue 2, Pages 322–351.
David F. Larcker, Anastasia A. Zakolyukina. Journal of Accounting Research. May 2012, Vol. 50, Issue 2, Pages 495–540.
Alan D. Jagolinzer, David F. Larcker, Daniel J. Taylor. Journal of Accounting Research. December 2011, Vol. 49, Issue 5, Pages 1249–1274.
David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor. Journal of Financial Economics. August 2011, Vol. 101, Issue 2, Pages 431-448.
Chris Armstrong, Jennifer L. Blouin, David F. Larcker. Journal of Accounting and Economics. 2011, Vol. 53, Issue 1–2, Pages 391-411.
Robert Daines, Ian D. Gow, David F. Larcker. Journal of Financial Economics. December 2010, Vol. 98, Issue 3, Pages 439–461.
Christopher S. Armstrong, David F. Larcker, Che-Lin Su. Operations Research. July 2010, Vol. 58, Pages 1090–1106.
Christopher S. Armstrong, Alan D. Jagolinzer, David F. Larcker. Journal of Accounting Research. May 2010, Vol. 48, Issue 2, Pages 225-271.
David F. Larcker, Tjomme O. Rusticus. Journal of Accounting Research. April 2010, Vol. 49, Issue 3, Pages 186–205.
Christopher Ittner, David F. Larcker, Daniel Taylor. Marketing Science. September 2009, Vol. 28, Issue 5, Pages 825–835.
Christopher S. Armstrong, David F. Larcker. Journal of Accounting and Economics. March 2009, Vol. 47, Issue 1–2, Pages 50–58.
John E. Core, Wayne Guay, David F. Larcker. Journal of Financial Economics. April 2008, Vol. 88, Issue 1, Pages 1–25.
Christopher D. Ittner, David F. Larcker, Mina Pizzini. Journal of Accounting and Economics. December 2007, Vol. 44, Issue 3, Pages 300–327.
David F. Larcker, Scott A. Richardson, Irem Tuna. The Accounting Review. July 2007, Vol. 82, Issue 4, Pages 963–1008.
David F. Larcker, Tjomme O. Rusticus. European Accounting Review. May 2007, Vol. 16, Issue 1, Pages 207–215.
Joseph J. Gerakos, Christopher D. Ittner, David F. Larcker. Essays in Accounting Theory in Honour of Joel S. Demski. Springer, 2007, Pages 227–229.
David F. Larcker, Scott A. Richardson. Journal of Accounting Research. June 2004, Vol. 42, Issue 3, Pages 625–658.
Christopher D Ittner, David F. Larcker, Taylor Randall. Accounting, Organizations and Society. October 2003, Vol. 28, Issue 7–8, Pages 715–741.
Christopher D. Ittner, Richard A. Lambert, David F. Larcker. Journal of Accounting and Economics. January 2003, Vol. 34, Issue 1-3, Pages 89–127.

Books

David F. Larcker, Brian Tayan Larcker and Tayan, August 29, 2013.

Other Publications

David F. Larcker, Nicholas E. Donatiello, Bill Meehan, Brian Tayan. Stanford GSB, Rock Center for Corporate Governance, BoardSource, and GuideStar. April 2015.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. April 2015.
David F. Larcker, Sarah M. Larcker, Brian Tayan. Stanford Closer Look Series. June 2014.
Anne Beyer, David F. Larcker, Brian Tayan. National Investor Relations Institute and Stanford University. May 2014.
David F. Larcker, Scott Saslow, Brian Tayan. The Conference Board, Institute of Executive Development, and Stanford University. March 2014.
David F. Larcker, Stephen A. Miles, Brian Tayan. Stanford Closer Look Series. March 2014.
David F. Larcker, Scott Saslow. Institute of Executive Development and Stanford University. February 2014.
David F. Larcker, Ian D. Gow, Allan McCall, Brian Tayan. Stanford Closer Look Series. October 2013.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. September 2013.
David F. Larcker, Stephen Miles, Brian Tayan, Michelle E. Gutman. The Miles Group and Stanford University. August 2013.
David F. Larcker, Stephen Miles, Brian Tayan, Michelle E. Gutman. The Miles Group and Stanford University. May 2013.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. May 2013.
David F. Larcker, Allan McCall, Brian Tayan. Stanford Closer Look Series. February 2013.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. December 2012.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. November 2012.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. November 2012.
David F. Larcker, Sarah M. Larcker, Brian Tayan. The Conference Board and Stanford University. October 2012.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. October 2012.
David F. Larcker, Allan McCall, Gaizka Ormazabal, Brian Tayan. Stanford Closer Look Series. June 2012.
David F. Larcker, Sarah M Larcker, Brian Tayan. Stanford Closer Look Series. April 2012.
David F. Larcker, Allan L. McCall, Brian Tayan. The Conference Board, NASDAQ, and Stanford University. March 2012.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. March 2012.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. January 2012.
David F. Larcker, Allan McCall, Brian Tayan. Stanford Closer Look Series. December 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. October 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. September 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. September 2011.
David F. Larcker, Stephen A. Miles. Heidrick & Struggles and Stanford University. August 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. August 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. June 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. June 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. May 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. April 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. April 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. January 2011.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. October 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. September 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. August 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. August 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. July 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. July 2010.
David F. Larcker, Stephen A. Miles. Heidrick & Struggles and Stanford University. June 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. June 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. June 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. June 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. May 2010.
David F. Larcker, Brian Tayan. Stanford Closer Look Series. May 2010.

Working Papers

The Information Content of Insider Trades around Government Intervention during the Financial Crisis | PDF
Alan D. Jagolinzer, David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor, August 142014
An Exploratory Investigation of the Determinants and Ratings Implications of Performance Appraisal Plan Characteristics | PDF
Christopher S. Armstrong, Christopher D. Ittner, David F. Larcker, April 172014
Risk-Taking Incentives in Bank Holding Companies and the Financial Crisis
David F. Larcker, G. Ormazabal, D.J. Taylor2013

Courses Taught

Degree Courses

2015-16

The course will examine the academic and professional controversies surrounding corporate governance and executive compensation. A basic framework will be developed to integrate the many important dimensions of corporate governance in the U.S....

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

This course is offered for students requiring specialized training in an area not covered by existing courses. To register, a student must obtain permission from the faculty member who is willing to supervise the reading.

Doctoral Practicum in Teaching

Doctoral Practicum in Research

2014-15

The course will examine the academic and professional controversies surrounding corporate governance and executive compensation. A basic framework will be developed to integrate the many important dimensions of corporate governance in the U.S....

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

This course examines selected topics in accounting research. The course features four faculty who will each give a focused look at a given area, introduce students to important questions in that area, key papers in the related literature, and...

2013-14

The course will examine the academic and professional controversies surrounding corporate governance and executive compensation. A basic framework will be developed to integrate the many important dimensions of corporate governance in the U.S....

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

2012-13

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

This course examines selected topics in accounting research. The course features four faculty who will each give a focused look at a given area, introduce students to important questions in that area, key papers in the related literature, and...

Stanford Case Studies

Corporate Governance According to Charles T. Munger | CGRP38
David F. Larcker, Brian Tayan2014
Does the Composition of a Company’s Shareholder Base Really Matter? | CGRP42
Anne Beyer, David F. Larcker, Brian Tayan2014
Follow the Money: Compensation, Risk, and the Financial Crisis | CGRP43
David F. Larcker, Gaizka Ormazabal, Brian Tayan, Daniel J. Taylor2014
Lululemon: A Sheer Debacle in Risk Management | CGRP41
David F. Larcker, Sarah M. Larcker, Brian Tayan2014
Seven Myths of CEO Succession | CGRP39
David F. Larcker, Stephen A. Miles, Brian Tayan2014
The Handpicked CEO Successor | CGRP45
David F. Larcker, Stephen A. Miles, Brian Tayan2014
Separation Anxiety The Impact of CEO Divorce on Shareholders | CGRP36
David Larcker, Allan McCall, Brian Tayan2013
Sneak Preview How ISS Dictates Equity Plan Design | CGRP37
Ian D. Gow, David F. Larcker, Allan McCall, Brian Tayan2013
Trust The Unwritten Contract in Corporate Governance | CGRP34
David Larcker, Brian Tayan2013
Fixed or Contingent How Should "Governance Monitors" Be Paid? | CGRP27
David Larcker, Brian Tayan2012
Is a Powerful CEO Good or Bad for Shareholders? | CGRP-28
David Larcker, Brian Tayan2012
Monitoring Risks Before They Go Viral Is it Time for the Board to Embrace Social Media? | CGRP25
David F. Larcker, Sarah M Larcker, Brian Tayan2012
The Myths of 'Say on Pay' | CGRP26
David F. Larcker, Allan McCall, Gaizka Ormazabal, Brian Tayan2012
What Is CEO Talent Worth? | CGRP23
David F. Larcker, Brian Tayan2012
CEO Health Disclosure at Apple A Public or Private Matter? | CGRP12
David F. Larcker, Brian Tayan2011
Do ISS Voting Recommendations Create Shareholder Value? | CGRP13
David F. Larcker, Brian Tayan2011
Keller Williams Realty (B) | HR29B
James Baron, David Larcker, Brian Tayan2011
Leadership Challenges at Hewlett-Packard Through the Looking Glass | CGRP21
David F. Larcker, Brian Tayan2011
Seven Myths of Corporate Governance | CGRP16
David F. Larcker, Brian Tayan2011
Seven Myths of Executive Compensation | CGRP17
David F. Larcker, Brian Tayan2011
Tesla Motors The Evolution of Governance from Inception to IPO | CGRP15
David F. Larcker, Brian Tayan2011
The NCAA Adopts "Dodd-Frank" A Fable | CGRP20
David F. Larcker, Brian Tayan2011
What Does It Mean for an Executive to Make A Million? | CGRP22
David F. Larcker, Allan McCall, Brian Tayan2011
Baker Hughes, Foreign Corrupt Practices Act | CG18
David Larcker, Brian Tayan2010
Berkshire Hathway The Role of Trust in Governance | CGRP02
David F. Larcker, Brian Tayan2010
CEO Succession Planning Who's Behind Door Number One? | CGRP05
David F. Larcker, Brian Tayan2010
Closer Look Series RiskMetrics Uninvited Guest at the Equity Table | CGRP01
David F. Larcker, Brian Tayan2010
Director Networks Good for the Director, Good for Shareholders | CGRP08
David F. Larcker, Brian Tayan2010
Equity on Demand, The Netflix Approach to Compensation | CG19
David Larcker, Allan McCall, Brian Tayan2010
Financial Manipulation Words Don't Lie | CGRP07
David F. Larcker, Brian Tayan2010
Lehman Brothers Peeking under the Board Facade | CGRP03
David F. Larcker, Brian Tayan2010
Pledge (and Hedge) Allegiance to the Company | CGRP11
David F. Larcker, Brian Tayan2010
Pro Forma Earnings What's Wrong with GAAP? | CGRP09
David F. Larcker, Brian Tayan2010
Proxy Access A Sheep, or Wolf in Sheep's Clothing? | CGRP06
David F. Larcker, Brian Tayan2010
Royal Dutch/Shell, A Shell Game with Oil Reserves (A) | CG17A
David Larcker, Robert Lawson, Brian Tayan2009
The Management of Berkshire Hathaway | CG16
David Larcker, Brian Tayan2009
Say on Pay, Does the Buck Stop Here? | CG12
David Larcker, Brian Tayan2008
10b5-1 Plans, Mortgaging a Defense Against Insider Trading | CG10
David Larcker, Brian Tayan2007
Shareholder Democracy, Does Gretchen Get It Right? | CG09
David Larcker, Brian Tayan2007

Stanford University Affiliations

Stanford GSB

Service to the Profession

Member

  • Accounting, Organization and Society, 1996-present
  • American Accounting Association
  • Journal of Accounting and Public Policy, 2002-present

Advisory Board

  • Journal of Applied Corporate Finance, 2004-present

Corporate Governance

  • Internal Governance, Organization, & Processes Abstracts Advisory Board
  • Corporate Governance Network, SSRN, 2009-present

In the Media

Washington Post, July 3, 2014
Crain's New York Business, June 15, 2014
The Wall Street Journal, June 13, 2014
BBC News, June 3, 2014
Forbes, June 11, 2009
Wall Street Journal, April 19, 2007
The Christian Science Monitor, February 4, 2007

Insights by Stanford Business

July 10, 2015
Apply the fundamentals of corporate governance to charitable work.
April 22, 2015
A new survey shows many lack skills, engagement to effectively oversee organizations.
February 17, 2015
Investors say proxy statements are too long and too difficult to read.
February 17, 2015
Stanford scholars explain what investors need in order to understand companies’ annual statements.
January 23, 2015
Researchers show the pros and cons to this arrangement.
November 20, 2014
Not every CEO can spot a winner. Here’s what a board should consider.
January 13, 2014
Two experts on corporate governance say the firms’ influence “may not be for the better, as far as shareholder value is concerned.”
September 20, 2013
David Larcker and Brian Tayan explain why building trust in an organization pays off.
July 31, 2013
Nearly two-thirds of CEOs do not receive outside leadership advice, but nearly all want it.
July 24, 2013
In their latest book, corporate governance experts assess which governance practices really work.
May 22, 2013
In grading CEO performance, financials still dominate.
May 16, 2013
Whether shareholders benefit depends more on context than on corporate structure.
October 25, 2012
A new study reveals a disconnect between companies' understanding of social media and the actions they are taking to apply it to their business.
June 1, 2011
Corporate governance experts from Stanford GSB say criticism of CEO pay might be off the mark.
May 19, 2011
"Corporate Governance Matters" by Professor David Larcker and Brian Tayan provides a practical framework for organizational decisions.
August 1, 2010
Researchers find that speech patterns and words offer clues about whether an executive is being honest during a conference call.
June 1, 2010
A new survey says more than half of companies today could not immediately name a successor to their CEO should the need arise.
September 1, 2009
Research casts doubt on the value and validity of the ratings of governance advisory firms.
April 1, 2008
A study shows that media clamor over high executive compensation makes virtually no difference in company behavior.

School News

July 1, 2011
Case studies explore governance challenges at top companies and myths surrounding board practices.
September 1, 2005
Three senior professors — in accounting, organizational behavior, and marketing — have joined the Stanford GSB faculty, along with six junior faculty.