David F Larcker
James Irvin Miller Professor of Accounting Professor of Law (by courtesy), Stanford Law School
Morgan Stanley Director of the Center for Leadership Development and Research
Director of the Corporate Governance Research Program
Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford
Phone: (650) 725-6159
Personal Homepage: http://faculty-gsb.stanford.edu/larcker/index.html
Academic Areas: Accounting
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, role of the business press in the debate on executive compensation, and modeling the cost of executive stock options.
Professor Larcker presently holds the James Irvin Miller Professorship. He is the director of the Corporate Governance Research Program 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.
PhD, University of Kansas, 1978; MS, University of Missouri-Rolla, 1974; BS, University of Missouri-Rolla, 1972.
At Stanford 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, 1978-85.
- Corporate Governance Matters: A Closer Look at Organizational Choices and Their Consequences: FT Press-Pearson Prentice Hall, 2011
- David F. Larcker, Gaizka Ormazabal, and Daniel J. Taylor: The Market Reaction to Corporate Governance Regulation: in press, accepted manuscript, available online Journal of Financial Economics, 2011
- The Incentive for Tax Planning: Chris Armstrong, Jennifer L. Blouin, and David F. Larcker: in press, corrected proof Journal of Accounting and Economics,, 2011
- Corporate Governance and the Information Content of Insider Traders: Alan D. Jagolinzer, David F. Larcker, and Daniel J. Taylor: forthcoming in Journal of Accounting Research., 2011
- Larcker, David F. and Armstrong, Christopher S., Discussion of 'The impact of the options backdating scandal on shareholders' and 'Taxes and the backdating of stock option exercise dates': Journal of Accounting and Economics, Volume 47, Issues 1-2, March 2009, pp. 50-58., 2009
- Ittner, C. D., D. F. Larcker, and M. W. Meyer, “Subjectivity and the Weighting of Performance Measures: Evidence from a Balanced Scorecard: The Accounting Review, , Vol. 78, No. 2 (July, 2003), pp. 725-758, 2003
- Ittner, C. D., D. F. Larcker, and T. Randall, “Performance Implications of Strategic Performance Measurement in Financial Service: Accounting, Organizations and Society, Vol. 28, Nos. 7-8 (October/November, 2003), pp. 715-741, 2003
- Ittner, C. D., R, A. Lambert, and D. F. Larcker, “The Structure and Performance Consequences of Equity Grants to Employees of New Economy Firms: Journal of Accounting and Economics, Vol. 34, Nos. 1-3 (January, 2003), pp. 89-127, 2003
- Larcker, D. F. and S. A. Richardson, “Fees Paid to Audit Firms, Accrual Choices, and Corporate Governance,”: Journal of Accounting Research, Vol. 42, No. 3 (June, 2004), pp. 625-658, 2004
- Larcker, David F.,: Journal of Economics & Management Strategy, 14(2), 339-376, 38p, 2006
- C.D. Ittner, David F. Larcker, and M. Pizzini. Perfomance-Based Compensation in Professional Service Firms: An examination of medical group practices: Journal of Accounting and Economics. Vol. 43, 2007
- Larcker, David F., and Richardson, Scott A., Corporate Governance, Accounting Outcomes and Organizational Performance: The Accounting Review. October, Vol. 82 Issue 4, p963-1008, 46p, 2007
- Armstrong, Chris S., Jagolinzer D., Larcker, David F: Timing of Employee Stock Option Exercises and the Cost of Stock Option Grants.: Available at SSRN. June 1, 2007
- Larker, David F., and Rusticus, Tjomme O.: Endogeneity and Empirical Accounting Research: European Accounting Review, Vol. 16, No. 1, pp207-215, May, 2007
- 2077: Proxy Advisory Firms and Stock Option Exchanges: The Case of Institutional Shareholder Services
- 2049: Endogenous Selection and Moral Hazard In Compensation Contracts
- 2059: The Market Reaction to Corporate Governance Regulation
- 2060: Detecting Deceptive Discussions in Conference Calls
- 2061: Boardroom Centrality and Stock Returns
- 2068: Corporate Governance, Compensation Consultants, and CEO Pay Levels
- 2052: Performance-Based Incentives for Internal Monitors
- 2032: The Incentives for Tax Planning
- 2036: The Stock Market's Pricing of Customer Satisfaction
- 2097: The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans
- 2105: The Economic Consequences of Proxy Advisor Say-on-Pay Voting Policies
- CG11: Models of Corporate Governance: Who's the Fairest of Them All?
- CG15: Selecting a CEO: The Leader, The Business Builder, or the Technologist
- CG16: The Management of Berkshire Hathaway
- CG17A: Royal Dutch/Shell: A Shell Game with Oil Reserves (A)
- CG17B: Royal Dutch/Shell: A Shell Game with Oil Reserves - Governance Overhaul After Scandal (B)
- CG19: Equity on Demand: The Netflix Approach to Compensation
- CG20B: Sharks in the Water: Battling an Activist Investor for Corporate Control (B)
- CG21: Multimillionaire Matchmaker: An Inside Look At CEO Succession Planning
- CGRP-15: Tesla Motors: The Evolution of Governance from Inception to IPO
- CGRP-14: The Resignation of David Sokol: Mountain or Molehill for Berkshire Hathaway?
- CGRP-13: Do ISS Voting Recommendations Create Shareholder Value?
- CGRP-12: CEO Health Disclosure at Apple: A Public or Private Matter
- CGRP-06: Proxy Access: A Sheep, or Wolf in Sheep's Clothing?
- CGRP-05: CEO Succession Planning: Who's Behind Door Number One?
- CGRP-16: Seven Myths of Corporate Governance
- CGRP-17: Seven Myths of Executive Compensation
- CGRP19: Scarlet Letter: Are the CEOs and Directors of Failed Companies "Tainted"?
- CGRP-03: Lehman Brothers: Peeking under the Board Facade
- CGRP-02: Berkshire Hathway: The Role of Trust in Governance
- CGRP20: The NCAA Adopts "Dodd-Frank": A Fable
- CGRP22: What Does It Mean for an Executive To Make $1Million?
- CGRP24: Sudden Death of a CEO: Are Companies Prepared When Lightning Strikes?
- CGRP26: Ten Myths of 'Say on Pay'
- CGRP-08: Director Networks: Good for the Director, Good for Shareholders
- CGRP23: What Is CEO Talent Worth?
- CGRP25: Monitoring Risks Before They Go Viral: Is it Time for the Board to Embrace Social Media?
- CGRP-09: Pro Forma Earnings: What's Wrong with GAAP?
- CGRP-04: A Historical Look at Compensation and Disclosure: Cool and Refreshing!
- CGRP-01: RiskMetrics: Uninvited Guest at the Equity Table
- CGRP21: Leadership Challenges at Hewlett-Packard: Through the Looking Glass
- CGRP-18: Are Current CEOs The Best Board Members?
- CG06: Sovereign Bancorp and Relational Investors: The Role of the Activist Hedge Fund
- CG5: Executive Compensation at Nabors Industries: Too Much, Too Little, or Just Right?
- CG07: There's a New Sheriff in Town: Institutional Shareholder Services
- CG14: Executive Compensation at Aquila: Moving Utility Services to Power Trading
- CG08: Corporate Governance Ratings: Got the grade... What was the test?
- CGRP-11: Pledge (and Hedge) Allegiance to the Company
- CG10: 10b5-1 Plans: Mortgaging a Defense Against Insider Trading
- CG12: Say on Pay: Does the Buck Stop Here?
- CG20A: Sharks in the Water: Battling an Activist Investor for Corporate Control (A)
- CG18: Baker Hughes: Foreign Corrupt Practices Act
- HR29B: Keller Williams Realty (B)
- CGRP-07: Financial Manipulation: Words Don't Lie
- CGRP-10: Sensitivity of CEO Wealth to Stock Price: A New Tool for Assessing Pay for Performance
- CG13: Attention Shoppers: Executive Compensation at Kroger, Safeway, Costco and Whole Foods
- CG09: Shareholder Democracy: Does Gretchen Get It Right?
Awards and Honors
- PhD Faculty Distinguished Service Award, 2010, Stanford Graduate School of Business
- Notable Contribution to Managerial Accounting Research, 2001
- Member: Accounting, Organization and Society (1996 - present)
- Member: American Accounting Association
- Member: 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)
- Member: Journal of Accounting Research (1987 - present)
- Member: Journal of Accounting and Economics (1985 - present)
In The Media
- 7 Myths of Executive Compensation
- New Book from Stanford Graduate School of Business Showcases Research into How Boards Can Govern Better
- The Right Way to Pay, Forbes
- How Good Are Commercial Corporate Governance Ratings? Stanford GSB News
- Excessive Executive Pay Makes Headlines, But So What?
- More Outside Directors Taking Lead in Crises. The Wall Street Journal
- America's CEO Pay May Soon Face Squeeze. The Christian Science Monitor.