CATHERINE SCHRAND
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1316 Steinberg Hall-Dietrich Hall |
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Philadelphia, PA 19104-6365 |
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(215) 898-6798 |
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schrand@wharton.upenn.edu |
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EDUCATION
The University of Chicago Graduate School of Business
Ph.D., October 1994
M.B.A., August 1993
The University of Michigan
B.B.A., December 1985
Certified Public Accountant, Illinois, 1986
EMPLOYMENT
The Wharton School of the University of Pennsylvania
Associate Professor of Accounting (2001 to present)
Assistant Professor of Accounting (July 1994 – 2001)
KPMG Peat Marwick, Staff Auditor and Audit Manager
January 1986 - September 1990
ACADEMIC PUBLICATIONS
The Association Between Stock-Price Interest Rate Sensitivity and Disclosures
about Derivative Instruments
The Accounting Review (January 1997): 87-109.
Why Firms Use Currency Derivatives (with Christopher Géczy and Bernadette Minton)
Journal of Finance (September 1997): 1323-1354.
Hedging and Coordinated Risk Management: Evidence from Thrift Conversions (with
Haluk Unal)
Journal of Finance (June 1998): 979-1013.
Risk and Financial Reporting: A Summary of the Discussion at the 1997 AAA/FASB
Conference, Invited Commentary (with John Elliott)
Accounting Horizons (September 1998): 271-282.
The Effect of Accounting-based Debt Covenants on Equity Valuation (with John Core)
Journal of Accounting and Economics (February 1999): 1-34.
The Impact of Cash Flow Volatility on Discretionary Investment and the Costs of Debt
and Equity Financing (with Bernadette Minton)
Journal of Financial Economics (December 1999): 423-460.
Strategic Benchmarks in Earnings Announcements: The Selective Disclosure of Prior-Period
Earnings Components (with Beverly Walther)
The Accounting Review (April 2000): 151-176.
The Role of Volatility in Forecasting (with Bernadette A. Minton and Beverly Walther)
Review of Accounting Studies (June/September 2002)
Earnings Management Using the Valuation Allowance for Deferred Tax Assets under SFAS 109
(with M.H. Franco Wong)
Contemporary Accounting Research (Fall 2003 ): 579-611
The Use of Multiple Risk Management Strategies: Evidence from the Natural Gas Industry
(with Christopher C. Géczy and Bernadette A. Minton)
Forthcoming, Journal of Risk 2006
An Evaluation of the Effects of Accounting Rules on Interest Rate Risk Management
in the Savings and Loan Industry
Proceedings: A Conference on Bank Structure and Competition, by the Federal
Reserve Bank of Chicago, 1994, 186-207.
Discussion of Who Uses Interest Rate Swaps? A Cross Sectional Analysis
Journal of Accounting, Auditing and Finance 13 (Summer 1998): 201-205.
OTHER PUBLICATIONS
Earnings Quality (with Patricia Dechow)
AIMR Monograph, 2004
Setting Accounting Standards with Fair Value (with Charles Smithson)
Risk (October 1999): 50-51.
Fair-value Accounting: Right and Relevant (with Charles Smithson)
Risk (November 1999): 58-59.
Firms’ Use of Currency Derivatives (with Christopher Géczy and Bernadette Minton)
In Corporate Risk: Strategies and Management, edited by Gregory W. Brown and
Donald H. Chew. London: Risk Books, 1999, 309-327.
Hedging and Coordinated Risk Management: Evidence from Thrift Conversions (with
Haluk Unal)
In Empirical Corporate Finance, edited by Michael J. Brennan.
Glos, United Kingdom:Edward Elgar Publishing Ltd., 2000.
MBA Companion to accompany
Financial Accounting by Libby, Libby, Short (with Peggy Bishop Lane)
Textbook chapters on Income Tax and Lease Accounting
The McGraw-Hill Companies, 2004.
WORKING PAPERS
Does Strategic Disclosure Explain the 'Leverage Effect'?
with Jonathan Rogers and Robert Verrecchia
Taking a View: Corporate Speculation, Governance and Compensation
with Christopher C. Géczy and Bernadette A. Minton
Information Disclosure and Adverse Selection Explanations for IPO Underpricing
with Robert E. Verrecchia
TEACHING
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Financial Accounting 101 (Core undergraduate) |
1994 - 1996 |
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Financial Accounting 620 (Core graduate) |
1997 - 1999 |
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M.B.A. Core Curriculum Award (1998) |
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Financial Accounting 603 (Pre-term graduate) |
1997 - 1999 |
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Managed content and teaching assistant |
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Intermediate Financial Accounting 201 (Undergraduate elective) |
2000 - present |
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Ph.D. Capital Markets Seminar |
2004, 2005 |
PROFESSIONAL SERVICE
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Associate editor: |
Journal of Accounting and Economics |
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Journal of Accounting Research |
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Journal of Financial Services Research |
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Ad-hoc reviewer: |
Accounting Horizons |
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The Accounting Review |
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Contemporary Accounting Research |
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Journal of Accounting, Auditing and Finance |
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Journal of Business |
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Journal of Finance |
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Journal of Financial Economics |
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Review of Accounting Studies |
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Review of Financial Studies |
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American Accounting |
2005 Doctoral Consortium Distinguished Visiting Faculty |
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Association activities: |
2003 New Faculty Consortium Planning Committee |
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Financial Accounting Standards Committee (1999-2002) |
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2001 AAA/FASB Conference Planning Committee Chair |
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1999 Doctoral Consortium Planning Committee |
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1997 AAA/FASB Conference Planning Committee |
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Faculty Development Advisory Committee (1997-1999) |
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Wharton activities: |
PhD Program Coordinator (2004-present) |
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Beta Alpha Psi faculty advisor (1999-2002) |
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Core Implementation Committee (1998-1999) |
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MBA Executive Committee (1997-1998) |
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Undergraduate Curriculum Committee (1994-1997) |
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Financial Institutions Center, Senior Fellow, 1995-2001 |
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Dissertation committees: |
Franco Wong, Dan Bens, Rebecca Tsui, Rick Johnston, Susan Kerr-Christopherson, Rodrigo Verdi, Jonathan Rogers, Ted Goodman |
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AWARDS
University of Pennsylvania Research Foundation award, 1995
Arthur Andersen & Co. Foundation Doctoral Dissertation Fellowship, 1993
KPMG Peat Marwick Doctoral Scholarship, 1992
AICPA Doctoral Fellow, 1990-1992
AAA Doctoral Consortium Fellow, 1992
University of Chicago Big Ten Doctoral Consortium representative, 1993