CategoryPresentations

Chatham Professor Earns Distinguished Fulbright Award

Indian Express, North America Edition

New York – March 1, 2016 – Aloke (Al) Ghosh, Professor at Baruch College has been chosen as a recipient of the prestigious Fulbright Aalto University Distinguished Chair Award for research in Finland and other European countries.

 Ghosh is a Professor of Accountancy at the Zicklin School of Business. Starting in the summer of 2016, he will engage in scholarly activities, conduct research, give lectures, conduct seminars for doctoral students and faculty, and consult with senior administrations at Aalto University.

“I feel extremely honored to be receiving this prestigious award,” said Ghosh. “Consistent with the Fulbright goals and objectives, my endeavor would be to exemplify the power of international academic exchange, share my knowledge and understanding of cultures with the intention of bridging the academic and cultural gaps between the U.S. and Finland and with the ultimate goal of a more peaceful and prosperous world.”

Professor Ghosh graduated from Tulane University, in New Orleans, where he earned his Ph.D. in Accounting and Economics. His Master’s degree, which is in Economics, is also from Tulane University. Speaking about his expertise and how it has contributed to his selection of the Fulbright Honor he said, “I graduated from Tulane in 1993, which was 23 years ago. Because my academic training includes Economics, Accounting, and Finance, I am able to use an interdisciplinary lens to provide unique and distinctive insights on business subject matter rather than use a specialized lens derived from one area of expertise.”  He continued, “My endeavor would be to engage in high quality scholarly research with faculty at Aalto, give lectures on my subject matter of expertise, conduct seminars for doctoral students and faculty, and consult with senior administrations at Aalto University.”

Ghosh has published numerous articles relating to topics in financial reporting and analysis, capital markets, auditing and corporate finance. These articles have appeared in The Journal of Accounting and Economics, The Accounting Review, Review of Accounting Studies, Contemporary Accounting Research, Journal of Finance, Auditing: A Journal of Practice and Theory, Journal of Corporate Finance, Financial Management, Journal of Management Accounting Research, Journal of Business Finance and Accounting, and many others.

With the support of the United States government and through binational partnerships with foreign governments, especially the Fulbright Center in Finland, the Fulbright Scholarship Program sponsors U.S. and foreign participants for exchanges in all areas of endeavor, including the sciences, business, academe, public service, government, and the arts and continues to increase mutual understanding between the people of the United States and the people of other countries. Currently, the Fulbright Program operates in over 155 countries worldwide.

Chatham Professor Earns Distinguished Fulbright Award

Facebooktwittergoogle_plusredditlinkedinmailby feather

Ghosh Presents at Business School of Victoria University of Wellington, New Zealand

money-17418_1280Professor Al Ghosh gives a presentation at Business School of Victoria University of Wellington, New Zealand, in 2014. The topic of the presentation was “Are Chinese ADRs Tainted by the Poor Audit Quality of Reverse Mergers? The Role of Depositary Banks”.

The controversy over Chinese reverse mergers, which are directly listed on U.S. stock exchanges, has led to concerns about the audit quality of all U.S. listed Chinese companies. View the full presentation here.

Facebooktwittergoogle_plusredditlinkedinmailby feather

Professor Aloke Ghosh Speaks at New York State CPA Society Manhattan – Bronx Chapter

Professor Aloke Ghosh spoke at New York State CPA Society, Manhattan/Bronx Chapter’s first event on financial forensics on October 28, 2013.

new-york-164591_1280The event “focused on providing the audience with an overview of, and career opportunities and trajectories in, this area of practice for CPAs. This two-credit CPE event was held live at the NYSSCPA’s new Wall Street headquarters and was simultaneously made available to participants via teleconference. Each method yielded active participation from the audience. The audience learned from a distinguished panel that was moderated by Past Chapter President Roman Z. Matatov and consisted of Anthony M. Bracco, co-practice leader of Anchin, Block & Anchin’s Litigation, Forensic and Valuation Services Group; Jay Dawdy, president of Gryphon Strategies; and Aloke Ghosh, Ph.D, academic director of the executive MS in financial statement analysis and professor of accounting at Baruch College’s Zicklin School of Business.”

Read the full article on Trusted Professional.

Facebooktwittergoogle_plusredditlinkedinmailby feather

Aloke Ghosh Speaks at Fox Business School, Temple University, Philadelphia

Professor Al Ghosh gives a presentation at Fox Business School, Temple University, Philadelphia.  During this presentation, Professor Ghosh discusses accounting losses versus profits and CEO turnover.

philadelphia-493854_1280ABSTRACT: Relying on a linear specification, several studies examine the importance of accounting and stock performance measures for CEO turnover. We suggest that accounting losses reflect managerial effort and quality that are not fully captured in the prior performance measures including profits. Using a non-linear specification around losses, we find a statistically and economically significant relationship between accounting losses and subsequent CEO turnover. Further, the magnitude of the loss also increases the likelihood of CEO turnover. A crucial finding is that once we include losses, accounting performance is no longer incrementally important in explaining CEO turnover. We additionally hypothesize and find that: (1) the impact of losses on CEO turnover depends on whether other firms in the industry also report losses, (2) CEO turnover following losses leads to more outside CEO appointments, and (3) the sensitivity of CEO turnover to losses is affected by the strength of the board and the level of growth opportunities. Collectively, our results suggest that CEOs are penalized for losses and that boards consider other factors along with losses to arrive at CEO retention decisions.

View the full presentation.

 

Facebooktwittergoogle_plusredditlinkedinmailby feather

Al Ghosh Presents at 39th Annual Meeting – European Finance Association 2012

Al Ghosh at EFAProfessor Al Ghosh spoke at the 39th Annual Meeting of the European Finance Association 2012 in Copenhagen, Denmark.  During this presentation, Professor Ghosh discusses whether cross-listed bonds are rated more conservatively than U.S. domestic bonds.

ABSTRACT: We investigate whether cross-listed bonds are rated more conservatively than U.S. domestic bonds. We argue that because of the high information asymmetry of cross-listed bonds, investors are more reliant on ratings, which in turn increases rating agencies’ exposure to reputation losses when foreign issuers default but ratings indicate otherwise. We expect this heightened reputation concerns to motivate rating agencies to be more conservative when rating cross-listed bonds than when rating domestic bonds. Consistent with our expectations, we find that cross-listed bonds have lower ratings at issuance and subsequently are less likely (and take longer) to be upgraded than comparable U.S. domestic bonds. We also find that rating conservatism is more pronounced for investment-grade cross-listed bonds, consistent with the higher reputational concerns for investment-grade bonds. Finally we examine a competing explanation that rating agencies’ private information indicates higher default risk for cross-listed bonds. We find that the lower ratings of cross-listed bonds are more likely to raise false alarms, less likely to miss future defaults, and are also corrected by a lower spread at issuance. Collectively, the evidence suggests that rating conservatism is a more plausible explanation for our finding than the private information explanation.

View the full presentation.

Facebooktwittergoogle_plusredditlinkedinmailby feather

Professor Al Ghosh Speaks at PCAOB Public Meeting

screenshot-PCAOB-slidehsareProfessor Al Ghosh gives opening remarks at the Public Company Accounting Oversight Board (PCAOB) Public Meeting on Auditor Independence and Audit Firm Rotation. March 22, 2012 in Washington, D.C. View the full presentation here.

Facebooktwittergoogle_plusredditlinkedinmailby feather

Professor Aloke (Al) Ghosh Presents at HEC Business School

Professor Aloke (Al) Ghosh at HEC Business SchoolProfessor Aloke (Al) Ghosh spoke at the HEC Business School, Switzerland in 2010. During this presentation, Professor Ghosh discusses managerial exposure to losses.

INTRODUCTION: In a recent study, Roychowdhury (2006) provides persuasive evidence consistent with the premise that managers manipulate operating (‘real’) activities to avoid reporting losses. By deviating from normal operations, managers avoid reporting losses through cash flow from operations. Similarly, the discontinuity in the frequency of firm-years around zero earnings (e.g., Hayn 1995, Burgstahler and Dichev 1997) is widely cited as evidence of earnings management to avoid reporting losses.1 In a related survey, Graham et al. (2005) conclude that executives prefer not to report losses by manipulating earnings even when such activities might erode firm value. But why are Chief Executive Officers (CEOs) so keen to avoid reporting losses?

View the full presentation.

Facebooktwittergoogle_plusredditlinkedinmailby feather

Dr. Aloke Ghosh Speaks at The University of Memphis, June 2009

Dr. Aloke Ghosh gives a presentation at The University of Memphis Business School in June 2009.  During this presentation, Professor Ghosh discusses the prospect of a CEO also serving as the Chair of the Board.

Dr. Al Ghosh presentation at The University of MemphisABSTRACT: A fundamental concern is that CEOs serving as chairs of the board (Chair) might use their power to “extract rents.” In contrast, under efficient contracting theory, depending on the firms’ information and contracting environment, firms can also benefit from one individual holding both positions. Consistent with efficient contracting theory, we find that the prospect of a CEO serving as the Chair increases with the riskiness of a firm, industry concentration, CEOs’ ability and track record, and stronger governance. We also directly test the rent extraction hypothesis by examining whether CEOs use their managerial power from holding the two top positions to derive personal benefits. We find no evidence of adverse consequences from CEOs holding dual positions in the form of excessively high CEO compensation, use of financial reporting discretion to manage earnings, or lower market valuations. There is also no evidence to suggest that CEOs with dual positions build empires through frequent acquisitions or that they pay less dividend. Finally, examination of the stock market returns around the announcement date indicates that investors do not react negatively to the news about an expansion or contraction in the role of a CEO, which is again inconsistent with the rent extraction theory. Overall, our results support the view that the organization of the leadership in U.S. firms is optimally determined for a typical large firm.

View the full presentation.

Facebooktwittergoogle_plusredditlinkedinmailby feather

© 2017 Aloke Ghosh

Theme by Anders NorénUp ↑