Marshall Bridge Building

Faculty Research Fair 2022: Maria Ogneva

Associate Professor of Accounting

March 15, 2022

Maria Ogneva

Maria Ogneva, Ph.D.

Associate Professor of Accounting

Before joining USC Leventhal, Ogneva was an assistant professor of accounting at Stanford Graduate School of Business. Ogneva received her B.S. and M.S. in Economics from Moscow State University, and her Ph.D. in accounting from USC Leventhal. Her research focuses on accounting-based risk assessment, accounting information and market efficiency, accounting-based equity valuation, and, more recently, on the link between accounting information and macroeconomy.

Her work has been published in the top accounting and finance journals, including Journal of Accounting and Economics, The Accounting Review, Review of Accounting Studies, Journal of Finance, and Journal of Accounting Research. She currently serves as an Associate Editor at Management Science and Journal of Accounting Research. She is a member of editorial boards at The Accounting Review and Journal of Financial Reporting. She is currently an Associate Editor at the Journal of Accounting and Economics.

Research Fair Presentation Summary

TITLE
Accounting Information and Macroeconomy

DESCRIPTION
The U.S. economy has two parallel systems of accounting— business accounting following GAAP (Generally Acceptable Accounting Principles) and national accounting using NIPA (National Income and Product Accounts). These systems measure economic activity and value creation, at the micro and macro levels. Despite the importance of the corporate sector for the U.S. economy, the wealth of information produced and disclosed by corporations plays a very limited role in the national accounts. Yet, accounting information disclosed by public firms has several advantages that make it useful for understanding the state of macroeconomy, including granularity, completeness, and timeliness. My recent research investigates the ways in which corporate disclosures can be used to augment and improve macroeconomic estimates, with the focus on labor markets. My co-authored research shows that accounting information can be used to infer and predict labor reallocation, aggregate job creation and destruction, and mass layoffs. I also find that incorporating accounting information leads to an economically significant improvement in the accuracy of early estimates of GDP growth and unemployment. These estimates are of crucial importance for a wide range of economic agents, including the regulators.