STANFORD GRADUATE SCHOOL OF BUSINESS—William H. Beaver, the Joan E. Horngren Professor of Accounting, was awarded an honorary doctorate from Athens University of Economics and Business at a May 14 ceremony in Athens. It was the second time in the school's history an honorary doctorate was awarded. It recognizes Beaver's research contribution to the understanding of the relationship between financial statement data and capital markets.

Beaver delivered remarks, "Reflections on Thirty-Five Years of Capital Market Research in Accounting," which traced the development of capital market research from a controversial area of study to one of the mainstream research areas in accounting.

Beaver, whose wife, Suzanne, accompanied him to the event, previously has received honorary doctorates from the Norwegian School of Economics (1996) and the University of Notre Dame (1998).

The presentation was made by George J. Venieris, rector of the university, and Dimitrios C. Ghicas, chairman of the Department of Accounting and Finance. Athens University of Economics and Business was founded in 1920.