Why Marshall
Leadership
Dean Geoffrey Garrett
Dean's Cabinet
Boards
Real-World Learning
Human Leadership
Tech Fluency
Global Opportunities
Diversity, Equity and Inclusion
Teaching + Innovation
Experiential Learning Center
Open Expression Statement
Programs
Undergraduate Programs
Admissions
Degrees
BS Business Administration (BUAD)
Business Emphases
BS Accounting (ACCT)
World Bachelor in Business (WBB)
BS Business of Cinematic Arts (BCA)
BS Artificial Intelligence for Business (BUAI)
Undergraduate Minors
Graduate Programs
MBA Programs
Full-Time MBA (FTMBA)
Executive MBA (EMBA)
Part-Time MBA (MBA.PM)
International MBA (IBEAR)
Online MBA (OMBA)
Specialized Masters
MS Business Administration (MSBUSAD)
MS Business Analytics (MSBA)
MS Entrepreneurship + Innovation (MSEI)
MS Finance (MSF)
MS Global Supply Chain Management (MSGSCM)
MS Marketing (MSMKT)
MS Social Entrepreneurship (MSSE)
Master of Business for Veterans (MBV)
Master of Management Studies (MMS)
Accounting Masters
Master of Accounting (MAcc)
Master of Business Taxation (MBT)
Master of Business Taxation for Working Professionals (MBT.WP)
PhD Program
Accounting
Data Sciences + Operations
Finance
Management + Organization
Marketing
Graduate Certificates
GC in Business Analytics
GC in Financial Analysis + Valuation
GC in Management Studies
GC in Marketing
GC in Optimization + Supply Chain Management
GC in Strategy + Management Consulting
GC in Sustainability + Business
GC in Technology Commercialization
GC in Library and Information Management – Online
Executive Education Redirect
Departments
Business Communication (BUCO)
Faculty
Data Sciences and Operations (DSO)
Finance + Business Economics (FBE)
Leventhal School of Accounting (ACCT)
Lloyd Greif Center for Entrepreneurial Studies (BAEP)
Management and Organization (MOR)
Marketing (MKT)
Institutes + Centers
Peter Arkley Institute for Risk Management
Brittingham Social Enterprise Lab
Center for Investment Studies
Initiative on Digital Competition
Randall R. Kendrick Global Supply Chain Institute
Center for Effective Organizations
Lloyd Greif Center for Entrepreneurial Studies
VanEck Digital Assets Initiative
Institute for Outlier Research in Business
Center for Global Innovation
Neely Center for Ethical Leadership and Decision Making
Trojan Network
Recruiting
Undergraduate
Graduate
Career Services
Giving + Support
Alumni Engagement + Resources
Student Organizations
Commencement
Richard Sloan is a professor of accounting, finance and business economics at the University of Southern California. He has also served on the faculties of UC Berkeley’s Haas School of Business, University of Michigan’s Ross School of Business and University of Pennsylvania’s Wharton School. While at the University of Michigan, Professor Sloan was the founding director of the John R. and Georgene M. Tozzi Electronic Business and Finance Center. From 2006 to 2009, Sloan was a managing director in equity research at Barclays Global Investors. Professor Sloan’s research focuses on the role of accounting information in investment decisions.
Areas of Expertise
NEWS + EVENTS
Richard Sloan Will Advise FASB
Deloitte and Touche LLP Chair in Accounting was appointed to the standard-setting council.
Richard Sloan Appointed to Financial Accounting Standards Advisory Council (FASAC)
Deloitte and Touche LLP Chair in Accounting appointed to standard-setting council.
WHY ESG IS
SO IMPORTANT
The Rise of Risk Management
As managing risk has become a core component of business strategy, USC Marshall’s Arkley Institute for Risk Management is introducing a new generation of future business leaders to the field through education, mentorship, and jobs.
Setting the Sustainability Reporting Standards Investors Demand
“There is a whole ecosystem evolving to support preparers and users of sustainability reports…These roles are in high demand and require new skills and so should present valuable career opportunities for our students.”
— Richard Sloan, Deloitte and Touche LLP Chair in Accounting and Professor of Accounting, Finance, and Business Economics
Recap: 40th Annual SEC and Financial Reporting Conference
Dean William Holder [Leventhal] and Richard Sloan, Professor of Accounting, Finance and Business Economics, are mentioned in a recap of this year's conference by Accounting Today.
RESEARCH + PUBLICATIONS
A large body of empirical research in accounting investigates the causes and consequences of accruals quality, reaching numerous influential conclusions. Yet little work has been done to systematically evaluate the validity of the underlying measures of accruals quality. We evaluate these measures using three criteria: (i) Is the measure unaffected by the underlying economic determinants of accruals? (ii) Does the measure consistently reflect errors in accruals? and (iii) Does the measure facilitate tests with sufficient power to detect plausible variation in accrual errors? Using a combination of theoretical modeling and numerical simulations, we show that all measures fail at least one of these criteria. Our evaluation provides new interpretations of existing research and guides the choice of measures and the interpretation of results in future research.
Implied equity duration was originally developed to analyze the sensitivity of equity prices to discount rate changes. We demonstrate that implied equity duration is also useful for analyzing the sensitivity of equity prices to pandemic shutdowns. Pandemic shutdowns primarily impact short-term cash flows, thus they have a greater impact on low-duration equities. We show thatimplied equity duration has a strong positive relation to U.S. equity returns and analyst forecast revisions during the onset of the 2020 COVID-19 shutdown. Our analysis also demonstrates that the underperformance of “value” stocks during this period is a rational response to their lower durations.