Stephen Penman


I am a Distinguished Professor at Bocconi University since 2021 and I pursued a PhD at the University of Chicago. I have been working at the Columbia Business School since 1999 and at the Haas School of Business at the University of California at Berkeley before then.



Distinguished Professor
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In 2019, I was inducted into the Accounting Hall of Fame and in 2020 into the Australian Accounting Hall of Fame.

In 2021, I was awarded with the Innovation in Financial Accounting Education Award by the American Accounting Association.

I am a founding editor of the Review of Accounting Studies and served as managing editor from 2002-2006.

Research interests

My research deals with the valuation of equity and the role of accounting information in security analysis, and a number of my papers deal with accounting policy issues.

Selected Publications