David F. Larcker

Professor Emeritus, Accounting

David F. Larcker

The James Irvin Miller Professor of Accounting, Emeritus

Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford
Academic Area:

Additional Administrative Titles

Director, Corporate Governance Research Initiative

Research Statement

David 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

David is the director of the Corporate Governance Research Initiative at Stanford Graduate School of Business and senior faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University. He 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. He 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

  • Professor of Law (by courtesy), Stanford Law School, until 2020
  • James Irvin Miller Professor of Accounting, Stanford Graduate School of Business, 2006–2020
  • Professor of Accounting, Stanford Graduate School of Business, 2005–2006
  • 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

Ian D. Gow, David F. Larcker, Edward M. Watts
Journal of Corporate Finance
December 2023 Vol. 83
David F. Larcker, Brian Tayan, Edward M. Watts
European Financial Management (early access)
May 2022
Ian D. Gow, David F. Larcker, Anastasia A. Zakolyukina
Journal of Accounting Research (advance online)
May 21, 2021
Alan D. Jagolinzer, David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor
The Journal of Finance
August 2020 Vol. 75 Issue 4 Pages 1833–1876
David F. Larcker, Edward M. Watts
Journal of Accounting and Economics
April 2020 Vol. 69 Issue 2–3
Ed deHaan, David F. Larcker, Charles McClure
Review of Accounting Studies
February 27, 2019 Vol. 24 Issue 2 Pages 536-569
Ian D. Gow, David F. Larcker, Peter C. Reiss
Journal of Accounting Reseach
April 19, 2016 Vol. 54 Issue 2 Pages 477-523
Christopher S. Armstrong, Jennifer L. Blouin, 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
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
Independently published
June 23, 2023
David F. Larcker, Brian Tayan, MBA ’03
Pearson FT Press
November 11, 2020
David F. Larcker, Brian Tayan
Larcker and Tayan
August 29, 2013

Working Papers

Christopher S. Armstrong, John D. Kepler, David F. Larcker, Shawn Shi May 8, 2022
Ian D. Gow, David F. Larcker, Edward M. Watts November 16, 2020
David F. Larcker, Charles McClure, Christina Zhu February 11, 2019
James Copland, David F. Larcker, Brian Tayan May 30, 2018
Ian D. Gow, David F. Larcker, Brian Tayan May 25, 2017
Ian D. Gow, Steven N. Kaplan, David F. Larcker, Anastasia A. Zakolyukina July 6, 2016
David F. Larcker, Brian Tayan April 12, 2016
David F. Larcker, Nicholas E. Donatiello (1960-2018), Brian Tayan March 3, 2016
David F. Larcker, Peter C. Reiss, Youfei Xiao November 1, 2015
Alan D. Jagolinzer, David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor August 14, 2014
Christopher S. Armstrong, Christopher D. Ittner, David F. Larcker April 17, 2014
David F. Larcker, G. Ormazabal, D.J. Taylor 2013

Stanford Case Studies

James Baron, David Larcker, Brian Tayan
2011
David Larcker, Brian Tayan
2010
David Larcker, Allan McCall, Brian Tayan
2010
David Larcker, Robert Lawson, Brian Tayan
2009
David Larcker, Brian Tayan
2009
David Larcker, Brian Tayan
2008
David Larcker, Brian Tayan
2007
David Larcker, Brian Tayan
2007

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

Insights by Stanford Business

June 06, 2023
More than a decade and 100 papers later, Closer Look finds that there’s no one-size-fits-all answer to questions about corporate governance.
March 23, 2023
Paying corporate accountants more removes incentives for financial misreporting.
November 10, 2022
Younger investors are more willing to put money behind environmental and social goals — even if it’s costlier.
August 08, 2022
Boards often don’t think about shaking up the C-suite until it’s too late.
April 19, 2022
Navigating the line between opportunity and uncertainty in the ESG boom
July 26, 2021
Linguistic analysis helps interpret what’s behind non-answers during corporate earnings calls.
January 19, 2021
New research drills down on C-suite diversity in Fortune 100 firms and finds there’s a lot more work to do.
March 05, 2020
A majority favors wealth tax, but not if it would hurt the economy or increase unemployment.
January 06, 2020
There’s little evidence that common board best practices lead to better oversight.
December 19, 2019
CEOs have traditionally shied away from politically charged issues, but that may be changing.
September 24, 2019
America’s top CEOs say their companies will focus on all stakeholders, but a corporate governance expert remains skeptical.
May 23, 2019
Despite the surging focus on environmental sustainability, research suggests investors still care about the old kind of green.
December 03, 2018
Seven Stanford business professors recommend their favorite books.
November 28, 2018
A new survey shows how Americans respond to CEOs who weigh in on controversial issues.
November 02, 2018
Private marketplaces are thriving as companies leverage a valuable recruitment tool.
May 02, 2018
How the company that overhauled the entertainment industry created a new model of corporate governance.
January 26, 2018
What fast-growing startups — and their boards — must understand about building culture.
October 06, 2017
A new survey highlights a tough CEO talent pool and which business leaders would be nearly impossible to replace.
January 06, 2017
Research shows what happens to succession winners and losers.
November 07, 2016
Researchers find connected bankers benefited by trading shares in their banks before government cash infusions.
February 17, 2016
A new survey shows Americans find flaws with executive compensation.
January 27, 2016
It’s an insular group, but with a couple surprises.
October 12, 2015
Should the chairman always be independent? Do CEOs actually make good directors?
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 01, 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 01, 2010
Researchers find that speech patterns and words offer clues about whether an executive is being honest during a conference call.
June 01, 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 01, 2009
Research casts doubt on the value and validity of the ratings of governance advisory firms.
April 01, 2008
A study shows that media clamor over high executive compensation makes virtually no difference in company behavior.

School News

October 19, 2023
Executives focused on sustainability and impact talk about their expanding roles and how collaboration drives their work.
July 01, 2011
Case studies explore governance challenges at top companies and myths surrounding board practices.
September 01, 2005
Three senior professors — in accounting, organizational behavior, and marketing — have joined the Stanford GSB faculty, along with six junior faculty.