- Accounting-based valuation
- Earnings Management
- Securities Fraud
Professor of Accounting Judson Caskey focuses on both empirical and modeling research in financial accounting, specifically on the role of accounting disclosures within the context of informed decision making. He analyzes the content of accounting disclosures and how that content is processed. His empirical research examines the information conveyed by financial reports and how investors use it.
Caskey began his academic career at UCLA Anderson, taught for three years at the McCombs School of Business at the University of Texas at Austin, and then returned to Anderson. What he likes most about UCLA is that “the people are very smart, very curious and very willing to engage in the exchange of ideas, which provides support for my own work and as well as an ability to support others, whether faculty or students. That type of cooperation is an inherent part of the UCLA Anderson culture.”
Caskey currently teaches a financial statement analysis elective that covers the interpretation and forecasting of financial statements, and valuation based on accounting fundamentals. He also teaches theoretical and empirical subjects in Anderson’s Ph.D. program, and is the director of UCLA’s Undergraduate Accounting Minor.
His current projects examine the disclosure and structure of lending arrangements, and how accounting information affects stock prices and multiples.
Financial Statement Analysis
Ph.D. Business Administration, 2006, University of Michigan
MBA with High Distinction, 2002, University of Michigan
B.A. Accounting with High Honors, 1995, Michigan State University
Judson Caskey and N. Bugra Ozel. (2019). Reporting and Non-Reporting Incentives in Leasing. The Accounting Review, 94(6):137-164.
Judson Caskey and Volker Laux. (2017). Corporate governance, accounting conservatism, and manipulation. Management Science, 63(2): 424-437.
Judson Caskey and N. Bugra Ozel. (2017). Earnings Expectations and Employee Safety. Journal of Accounting and Economics, 63(1): 121-141.
Judson Caskey, John Hughes, and Jun Liu. (2015). Strategic informed trades, diversification, and expected returns. The Accounting Review, 90(5): 1811-1837.
Judson Caskey. (2014). The pricing effects of securities class action lawsuits and litigation insurance. Journal of Law, Economics and Organization, 30(3): 493-532.
Daniel Aobdia, Judson Caskey, and N. Bugra Ozel. (2014). Inter-industry network structure and the cross-predictability of earnings and stock returns. Review of Accounting Studies, 19(3): 1191-1224.
Judson Caskey and Kyle Peterson. (2014). Conservatism measures that remove the effects of asset composition. Review of Quantitative Finance and Accounting, 42(4): 731-756.
Judson Caskey and Michelle Hanlon. (2013). Dividend policy at firms accused of accounting fraud. Contemporary Accounting Research, 30(2): 818-850.
Judson Caskey, John Hughes, and Jing Liu. (2012). Leverage, excess leverage and future stock returns. Review of Accounting Studies, 17(2): 443-471.
Judson Caskey and John Hughes. (2012). Assessing the impact of alternative fair value measures on the efficiency of project selection and continuation. The Accounting Review, 87(2):483-512.
Judson Caskey, Venky Nagar, and Paolo Petacchi. (2010). Reporting Bias with an Audit Committee. The Accounting Review, 85(2): 477-481.
Judson Caskey, Information in equity markets with ambiguity averse investors 2009, Review of Financial Studies 22(9): 3595-3627 ( Abstract, PDF)
Bloomberg BNA, Feb. 13, 2015
“Study Links Ambiguity-Aversion with Stock Mispricing,” UCLA Anderson blog.
Zephyr Price for best corporate finance paper (2014)
Review of Accounting Studies/Morgan Stanley best discussant award (2014)
PwC endowed faculty fellowship (2013–2014)
Deloitte Doctoral Fellowship (2005)