Christopher Armstrong

Christopher Armstrong
  • EY Professor of Accounting

Contact Information

  • office Address:

    1313 Steinberg Hall-Dietrich Hall
    3620 Locust Walk
    Philadelphia, PA 19104-6365

Research Interests: asset pricing, corporate governance, executive compensation and incentives

Links: CV, Personal Website

Overview

Professor Armstrong’s research focuses issues related to corporate governance, debt and executive compensation contracting, corporate valuation, and cost of capital. Professor Armstrong serves on the editorial boards of the Journal of Accounting and Economics, Journal of Accounting Research, and The Accounting Review. Professor Armstrong’s research has been published in top-tier academic journals including The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Journal of Financial Economics, Review of Financial Studies, Operations ResearchReview of Accounting Studies, and Journal of Financial Reporting.

Professor Armstrong teaches Introduction to Financial Accounting (ACCT 611) in the MBA program. He received a PhD in Accounting from the Stanford University Graduate School of Business, Master of Professional Accounting from the University of Texas at Austin, and BS in Commerce from the University of Virginia.

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Research

Teaching

Past Courses

  • ACCT101 - ACCT & FINANCIAL REPORT

    This course is an introduction to the basic concepts and standards underlying financial accounting systems. Several important concepts will be studied in detail, including: revenue recognition, inventory, long-lived assets, present value, and long term liabilities. The course emphasizes the construction of the basic financial accounting statements - the income statement, balance sheet, and cash flow statement - as well as their interpretation.

  • ACCT611 - FINANCIAL ACCOUNTING

    The objective of this course is to provide an understanding of financial accounting fundamentals for prospective consumers of corporate financial information, such as managers, stockholders, financial analysts, and creditors. The course focuses on understanding how economic events like corporate investments, financing transactions and operating activities are recorded in the three main financial statements (i.e., the income statement, balance sheet, and statement of cash flows). Along the way, students will develop the technical skills needed to analyze corporate financial statements and disclosures for use in financial analysis, and to interpret how accounting standards and managerial incentives affect the financial reporting process. This course is recommended for students who want a more in-depth overview of the financial accounting required for understanding firm performance and potential future risks through analysis of reported financial information, such as students intending to go into security analysis and investment banking.

  • ACCT921 - EMPIRICAL RES IN ACCT I

    This is an empirical literature survey course covering topics that include corporate disclosure, cost of capital, incentives, compensation, governance, financial intermediation, financial reporting, tax, agency theory, cost accounting, capital structure, international financial reporting, analysts, and market efficiency.

  • ACCT922 - EMPIRICAL RES IN ACCT II

    This is an empirical literature survey course covering topics that include corporate disclosure, cost of capital, incentives, compensation, governance, financial intermediation, financial reporting, tax, agency theory, cost accounting, capital structure, international financial reporting, analysts, and market efficiency.

Awards and Honors

  • Rodney L. White Center Aronson+Johnson+Ortiz Research Fellowship, 2011
  • Dorinda and Mark Winkelman Distinguished Scholar Award, 2010-2011
  • Excellence in Teaching Award, 2009

Activity

In the News

How Independent Directors Bridge the Information Gap

When a company’s board has a higher proportion of independent directors, the company behaves in a more transparent way. But which is the cause, and which is the effect? Wharton accounting professors Christopher Armstrong and Wayne Guay explain.

Knowledge @ Wharton - 2015/06/16
All News

Awards and Honors

Rodney L. White Center Aronson+Johnson+Ortiz Research Fellowship 2011
All Awards