Maureen McNichols

Professor, Accounting

Maureen McNichols

The Marriner S. Eccles Professor of Accounting and Public and Private Management

Robert and Marilyn Jaedicke Faculty Fellow for 2024–2025
Academic Area:

Research Statement

Maureen McNichols’ research examines financial reporting and its role in providing information to investors. Her recent work focuses on the role of earnings announcements in informing investors, on earnings management, and on the role of auditors in financial reporting quality. The research on earnings announcements documents a striking increase in stock price revision in response to earnings announcements and explores reasons for this relation. The research on earnings management examines companies’ incentives and methods for managing earnings, detection of managed earnings, and the consequences of earnings management for investors’ decisions. The research on auditors examines their role in detecting and reporting misreporting, and the factors that contribute to audit quality, including regulation, auditor incentives and ability.

Bio

Maureen McNichols is The Marriner S. Eccles Professor of Accounting and Public and Private Management at Stanford Graduate School of Business (GSB). Her leading research on earnings management and its implications for investors, and on analysts’ incentives, forecasts, and investment recommendations has received considerable attention from academics, investors, and regulators. Her papers appear in the leading journals in accounting and finance and have garnered several Best Paper awards. She served as an editor of Review of Accounting Studies, and has served on the editorial boards of Journal of Accounting Research, The Accounting Review and Contemporary Accounting Research.

Professor McNichols has offered courses in financial reporting in a number of Stanford’s programs, including the undergraduate program, the Stanford Law School, the Stanford MBA Program, and Stanford GSB’s PhD Program in accounting. Some of her recent electives include “Evaluating Financial Statement Information,” “Analysis for Event-Driven Investing” and “Foundations for Social Impact.” In addition, she has taught in a number of programs for executives, including Finance and Accounting for the Non-Financial Executive and IGNITE.

Professor McNichols served as chair of Stanford GSB’s accounting group three times, most recently 2016-2017, as chair of the FAB Executive Committee (2007-2008), and a member of the Stanford University Faculty Senate (2004-2007), the Senate Committee on Committees (2005-2007), the Committee on Undergraduate Admission and Financial Aid (2005-2007), the Stanford University Board of Trustees Finance Committee (2004-2008), and the Provost’s Budget Group (2006-2015) . She was a visiting professor at the University of Chicago and the London School of Business, and a visiting scholar at the Hoover Institute from 2004-2005.

Professor McNichols has been a member of the Public Companies Accounting Oversight Board Standing Advisory Group since 2014. From 2003-2006, she served as a director and member of the audit and compensation committees of Net IQ Corporation. She is certified as a CPA by the State of Illinois, and is a member of the American Accounting Association. McNichols received her BA and MA in accounting from the University of Illinois and her PhD in accounting from the University of California at Los Angeles.

Academic Degrees

  • PhD in Accounting; Graduate School of Management, University of California Los Angeles; 1984
  • MA in Accounting; University of Illinois, Urbana-Champaign; 1976
  • BA; University of Illinois, Urbana-Champaign; 1975

Academic Appointments

  • At Stanford University since 1984

Awards and Honors

  • Davis Award, 2024
  • Michelle R. Clayman Faculty Fellow, 2022–23
  • Stand Up for Kids Guardian of Youth Award, 2016
  • Susan Ford Dorsey Faculty Fellow for 2015–16
  • Philip F. Maritz Faculty Fellow, Stanford Graduate School of Business, 2014–15
  • Marriner S. Eccles Chair, 2001
  • Best Paper Award, Review of Accounting Studies, 2000
  • Best Paper Award, Review of Accounting Studies, 1998
  • Best Paper Award, Financial Reporting Section American Accounting Association, 1995
  • CPA Certificate, State of Illinois, 1975

Publications

Journal Articles

William H. Beaver, Stefano Cascino, Maria Correia, Maureen McNichols
Review of Accounting Studies
July 2023
William H. Beaver, Maureen McNichols, Zach Z. Wang
Journal of Accounting and Economics
February 2020 Vol. 69 Issue 1
William H. Beaver, Stefano Cascino, Maria Correia, Maureen McNichols
Management Science
May 8, 2019 Vol. 65 Issue 8 Pages 3559-3584
Maureen McNichols, Stephen R. Stubben
ABACUS
June 2018 Vol. 54 Issue 2 Pages 227–246
William H. Beaver, Maureen McNichols, Zach Z. Wang
Review of Accounting Studies
March 2018 Vol. 23 Issue 1 Pages 95-135
William H. Beaver, Maureen McNichols, Richard Price
Journal of Accounting Literature
December 2016 Vol. 37 Pages 1-18
Maureen McNichols, Stephen R. Stubben
Review of Accounting Studies
March 2015 Vol. 20 Issue 1 Pages 110-140
Madhav V. Rajan, Maureen McNichols, Stefan J. Reichelstein
Review of Accounting Studies
December 2014 Vol. 19 Issue 4 Pages 1393-1435
William H. Beaver, Maria Correia,, Maureen McNichols
Review of Accounting Studies
December 2012 Vol. 17 Issue 4 Pages 969-1010
William H. Beaver, Maria Correia, Maureen McNichols
Foundations and Trends in Accounting
January 2011 Vol. 5 Issue 2 Pages 99-173
Maureen McNichols, Gilad Livne
Journal of Business Finance & Accounting
January 2009 Vol. 36 Issue 1-2 Pages 1-30
Maureen McNichols, Stephen R. Stubben
The Accounting Review
November 2008 Vol. 83 Issue 6 Pages 1571-1603
William H. Beaver, Maureen McNichols, Karen K. Nelson
Review of Accounting Studies
2007 Vol. 12 Issue 4 Pages 525-556
William H. Beaver, Maureen McNichols, Richard Price
Journal of Accounting and Economics
2007 Vol. 43 Issue 2–3 Pages 341-368
Brad M. Barber, Reuven Lehavy , Maureen McNichols, Brett Trueman
Journal of Accounting and Economics
April 2006 Vol. 41 Issue 1–2 Pages 87–117
Patricia C. O'Brien, Maureen McNichols, Lin Hsiou-Wei
Journal of Accounting Research
September 2005 Vol. 43 Issue 4 Pages 623-650
William H. Beaver, Maureen McNichols, Jung-Wu Rhie
Review of Accounting Studies
March 2005 Vol. 10 Issue 1 Pages 93-122
William H. Beaver, Maureen McNichols, Karen K. Nelson
Journal of Accounting and Economics
August 2003 Vol. 35 Issue 3 Pages 347–376
Brad Barber, Reuven Lehavy, Maureen McNichols, Brett Trueman
Financial Analyst Journal
March 2003 Vol. 59 Issue 2 Pages 88-96
Ron Kasznik, Maureen McNichols
Journal of Accounting Research
June 2002 Vol. 40 Issue 3 Pages 727–759
Mary E. Barth, Ron Kasznik, Maureen McNichols
Journal of Accounting Research
June 2001 Vol. 39 Issue 1 Pages 1–34
William H. Beaver, Maureen McNichols
Review of Accounting Studies
June 2001 Vol. 6 Issue 2-3 Pages 197-220
Brad Barber, Reuven Lehavy, Maureen McNichols, Brett Trueman
Journal of Finance
April 2001 Vol. 56 Issue 2 Pages 531-563
Maureen McNichols
Journal of Accounting and Public Policy
2000 Vol. 19 Issue 4-5 Pages 313-345
William H. Beaver, Maureen McNichols
Review of Accounting Studies
March 1998 Vol. 3 Issue 1-2 Pages 73-95
Maureen McNichols, Hsiou-wei Lina
Journal of Accounting and Economics
February 26, 1998 Vol. 25 Issue 1 Pages 101-127
Mary E. Barth, Maureen McNichols, G. Peter Wilson
Review of Accounting Studies
March 1997 Vol. 2 Issue 1 Pages 35-64
Maureen McNichols, Patricia C. O'Brien
Journal of Accounting Research, Studies on Experts and the Application of Expertise in Accounting, Auditing and Tax
1997 Vol. 35 Pages 167-199
Richard Frankel, Maureen McNichols, G. Peter Wilson
The Accounting Review
January 1995 Vol. 70 Issue 1 Pages 135-150
Maureen McNichols, Brett Trueman
Journal of Accounting and Economics
January 1994 Vol. 17 Issue 1-2 Pages 69-94
Mary E. Barth, Maureen McNichols
Journal of Accounting Research
1994 Vol. 32, Studies on Accounting, Financial Disclosures, and the Law Pages 177-209
Maureen McNichols, Mary E. Barth
Journal of Accounting Research, Supplement
1994
Maureen McNichols, Ajay Dravid
Th Journal of Finance
July 1990 Vol. 45 Issue 3 Pages 857-879
Bruce D. Grundy, Maureen McNichols
The Review of Financial Studies
October 1989 Vol. 2 Issue 4 Pages 495–526
Maureen McNichols
The Accounting Review
January 1989 Vol. 64 Issue 1 Pages 1-27
Maureen McNichols
Journal of Accounting and Economics
July 1988 Vol. 10 Issue 3 Pages 239-273
Maureen McNichols, G. Peter Wilson
Journal of Accounting Research, Studies on Management's Ability and Incentives to Affect the Timing and Magnitude of Accounting Accruals
1988 Vol. 26 Pages 1-31
Maureen McNichols, James G. Manegold
Journal of Accounting and Economics
1983 Vol. 5 Pages 49-74

Working Papers

Maureen McNichols, Moritz Hiemann, Stefan J. Reichelstein August 2013

Stanford Case Studies

Jaclyn Foroughi, Maureen McNichols
2022
Jaclyn Foroughi, Maureen McNichols
2022
Jaclyn Foroughi, Maureen McNichols
2022
Jaclyn Foroughi, Maureen McNichols
2022
Jaclyn Foroughi, Maureen McNichols
2022
Jaclyn Foroughi, Maureen McNichols
2021
Maureen McNichols, Jaclyn Foroughi
2021
Maureen McNichols, Jaclyn Foroughi
2020
Maureen McNichols, Jaclyn Foroughi
2020
Maureen McNichols, William Meehan III, Jaclyn Foroughi
2017
Maureen McNichols, Jaclyn Foroughi
2017
Maureen McNichols, Jaclyn Foroughi
2016
Maureen McNichols, Jaclyn Foroughi
2016
Maureen McNichols, Jaclyn Foroughi
2016
Maureen McNichols, Nate Blair
2013
Maureen McNichols, Anne Casscells, Jaclyn Foroughi
2013
Maureen McNichols, Nate Blair
2010
Nathan Blair, Maureen McNichols
2009
Nathan Blair, Maureen McNichols
2009
Nathan Blair, Maureen McNichols
2009
Maureen McNichols, Brian Tayan
2007
Maureen McNichols, Brian Tayan
2007
Maureen McNichols, Brian Tayan
2007
Colm Callan, Maureen McNichols
2004
Colm Callan, Maureen McNichols
2004
Maureen McNichols, Brian Tayan
2003
Maureen McNichols, Brian Tayan
2003

Stanford University Affiliations

  • Member GSB Dean's Search Committee 2015-2016
  • Member Provost's Budget Group 2006-2015
  • Member Project on Women and Leadership 2013-2014
  • Member Finance Committee, Board of Trustees 2004-2008

Service to the Profession

  • Member, Standing Advisory Group, Public Company Accounting Oversight Board, 2014-2016, 2017-2019
  • Editor, Review of Accounting Studies, 1995-2008
  • Editorial Board,/Ad-Hoc Referee, The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Contemporary Accounting Research
  • Director and member of audit and compensation committees, NetIQ, 2003-2006

In the Media

Insights by Stanford Business

December 09, 2020
We’ve compiled an eclectic collection of books to share — or hoard — while sheltering in place this season.
July 02, 2019
Escape the heat with books recommended by Stanford business professors.
December 06, 2016
Reading recommendations from the Stanford GSB community.
January 05, 2016
Research shows that financial disclosures benefit buyers at the target’s shareholders' expense.
October 06, 2015
It’s easier than ever to find up-to-the-minute data on companies. So why are investors in love with old-fashioned financial statements?
March 15, 2013
New research explores the value of financial and market data to ascertaining the likelihood of bankruptcy.
November 01, 2005
New research shows that financial ratios are still quite effective at predicting bankruptcy.
October 15, 2003
Increases in executive compensation, jumps in incentives to manage earnings, and shifts in auditing firm structure contributed to governance failures.

School News

April 22, 2024
A new program opens Stanford GSB to undergraduates for the first time.
February 19, 2019
The newly established symposia are a testament to the lasting impact of David M. Kreps’ contributions to Stanford GSB.