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PANOS N. PATATOUKAS
Research Homepage ∙ Teaching Homepage
Tel: (510) 642-4060 ∙ Email: [email protected]
ACADEMIC APPOINTMENTS
University of California at Berkeley, Haas School of Business:
o Associate Professor with Tenure (Step I.5), July 2016-Present.
o Barbara and Gerson Bakar Faculty Fellow, July 2015-June 2016.
o Schwabacher Faculty Fellow, July 2013-June 2014.
o Assistant Professor, July 2010-June 2016.
EDUCATION
PhD, Accounting and Finance, Yale University, December 2010.
o Dissertation Title: “Essays on Corporate Financial Reporting and Financial
Statement Analysis: Fundamental Implications of Customer-Base Concentration
and Bias in Estimates of Conditional Conservatism”
o Dissertation Committee: Jake Thomas (Director), Shyam Sunder, Brian Mittendorf,
Frank Zhang.
MPhil, Management, Yale University, 2008.
MA, Management, Yale University, 2007.
MSc, Accounting and Finance, London School of Economics and Political Science, 2004.
o Highest Distinction.
E.U. Erasmus Fellow, Lancaster University Management School, 2003.
BA, Accounting and Finance, Athens University of Economics and Business, 2003.
o Summa Cum Laude and Valedictorian.
PUBLISHED AND FORTHCOMING PAPERS
“Identifying Conditional Conservatism in Financial Accounting Data: Theory and
Evidence” (with Sunil Dutta).
o Forthcoming in The Accounting Review.
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“From Micro to Macro: Does Conditional Conservatism Aggregate up in the National
Income and Product Accounts?” (with doctoral student Henry Laurion).
o Published in the Journal of Financial Reporting 1 (2): 2016.
“Asymmetrically Timely Loss Recognition and the Accrual Anomaly” (solo-authored).
o Published in Abacus 52 (1): 2016.
“Placebo Tests of Conditional Conservatism” (with Jake Thomas).
o Published in The Accounting Review 91 (2): 2016.
“Customer-Base Concentration and Inventory Efficiencies: Evidence from the
Manufacturing Sector” (with doctoral student Korcan Ak).
o Published in the Production and Operations Management Journal 25 (2): 2016.
“On the Pricing of Mandatory DCF Disclosures: Evidence from Oil and Gas Royalty
Trusts” (with Richard Sloan and doctoral student Jenny Zha).
o Published in The Accounting Review 90 (6): 2015.
“Taking the Pulse of the Real Economy Using Financial Statement Analysis: Implications
for Macro Forecasting and Stock Valuation” (with Yaniv Konchitchki).
o Published in The Accounting Review 89 (2): 2014.
o Hellman Fellows Fund Award for Distinction in Research, May 2013.
“Accounting Earnings and Gross Domestic Product” (with Yaniv Konchitchki).
o Published in the Journal of Accounting and Economics 57 (1): 2014.
“Detecting News in Aggregate Accounting Earnings: Implications for Stock Market
Valuation” (solo-authored).
o Published in the Review of Accounting Studies 19 (1): 2014.
“Customer-Base Concentration: Implications for Firm Performance and Capital Markets”
(solo-authored).
o Published as Lead Article in The Accounting Review 87 (2): 2012.
o Competitive Manuscript Award, American Accounting Association.
o Best Paper Award, American Accounting Association, Northeast Region.
“More Evidence of Bias in Differential Timeliness Estimates of Conditional
Conservatism” (with Jake Thomas).
o Published in The Accounting Review 86 (5): 2011.
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WORKING PAPERS
“Short-Sales Constraints and Aftermarket IPO Pricing” (with Richard Sloan, and doctoral
student Annika Wang).
“Dissecting the Association between Stock Returns and GDP Growth Forecast Surprises:
An Implied Cost of Capital Approach” (solo-authored).
“Customer-Base Concentration: Implications for Audit Pricing and Quality” (with Gopal
Krishnan, and doctoral student Annika Wang).
RESEARCH GRANT
“Traffic Volume and Economic Activity: Implications for Nowcasting and Forecasting the
U.S. Economy” (with Alexander Skabardonis).
o Research Grant Awarded by the U.S. Department of Transportation.
PUBLISHED PATENT
“Methods and Systems for Forecasting Economic Movements” (with Yaniv Konchitchki).
o U.S. Patent and Trademark Office, Patent Publication No.: 2015/0006435 A1.
MBA TEACHING
Financial Information Analysis and Valuation, Evening/Weekend MBA Program.
o This award-winning course provides a framework for business analysis and
valuation using financial statement analysis.
Teaching Awards:
2015 Recipient of the Earl F. Cheit Award for Excellence in Teaching.
2012 Recipient of the Earl F. Cheit Award for Excellence in Teaching.
o The Earl F. Cheit Award for Excellence in Teaching is the highest teaching award
bestowed upon instructors by the MBA students at Berkeley-Haas.
Teaching Excellence Recognition by the Dean’s Office:
Earned Membership in “Club 6” for Teaching Excellence, 2015-2016.
Earned Membership in “Club 6” for Teaching Excellence, 2014-2015.
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Earned “double membership” in Dean’s List for Teaching Excellence, 2012-2013.
Earned Membership in “Club 6” for Teaching Excellence, 2011-2012.
Earned Membership in “Club 6” for Teaching Excellence, 2010-2011.
Student Ratings:
Highest rated elective course at Berkeley-Haas, 2015-2016:
o Evening Section: Mean (median) rating = 6.74/7.00 (7.00/7.00).
o Weekend Section: Mean (median) rating = 6.90/7.00 (7.00/7.00).
Highest rated elective course at Berkeley-Haas , 2014-2015:
o Evening Section: Mean (median) rating = 6.98/7.00 (7.00/7.00).
o Weekend Section: Mean (median) rating = 6.87/7.00 (7.00/7.00).
Teaching Case Samples:
Share Transactions as Stock Price Correction Catalysts: The Case of Fitbit.
Effective Tax Rates and Valuation: The Case of Apple.
Reverse-Engineering Investors’ Premium for Growth: The Case of GoPro.
Macro Growth Expectations and Stock Market Prices: The Case of FedEx.
Short-Sales Constraints and Valuation: The Great Northern Iron Ore Properties.
Investor Sophistication and Valuation: The Case of the BP Prudhoe Bay Royalty Trust.
Do Accounting Choices Matter for IPO Valuations? The Case of Groupon.
On the Valuation of Closed-End Funds: The Curious Case of the Gabelli Utility Trust.
o Published in Equity Valuation and Analysis, Third Edition, September 2012.
MBA PROGRAM SERVICE
Berkeley-Haas MBA for Working Professionals (includes Evening/Weekend MBA and
Executive MBA).
o Member of the Degree Program Committee, 2014-2016.
Served as adviser for the following MBA students at Berkeley-Haas:
o Kartik Ramasubramanian (Evening/Weekend MBA, Spring 2017),
o Praveen Settipalli (Evening/Weekend MBA, Fall 2016),
o Tanya Chavez (Evening/Weekend MBA, Spring 2016),
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o Walker Frost (Evening/Weekend MBA, Spring 2016),
o Michael Scott McClain (Evening/Weekend MBA, Spring 2016),
o Joel Morehouse (Evening/Weekend MBA, Spring 2016),
o Nitin Nalin (Evening/Weekend MBA, Spring 2016),
o Bryan Shieh (Evening/Weekend MBA, Spring 2016),
o Sid Singh (Evening/Weekend MBA, Spring 2016),
o Joseph M. South (Evening/Weekend MBA, Spring 2016).
o Chida Khatua (Evening/Weekend MBA, Fall 2015),
o Robert Kenneth Harvey (Evening/Weekend MBA, Fall 2015),
o Ashwini Gautam (Evening/Weekend MBA, Fall 2015),
o Carmen Maxim (Evening/Weekend MBA, Spring 2015),
o Nils Mathias Reuters (Evening/Weekend MBA, Spring 2015),
o David Harrison Smith (Evening/Weekend MBA, Spring 2015),
o Shuo Zhang (Evening/Weekend MBA, Spring 2015),
o John Avi Roop (Evening/Weekend MBA, Fall 2012).
PHD TEACHING
Interdisciplinary Capital Markets Research, PhD Program, Berkeley-Haas.
o Earned Membership in “Club 6” for Teaching Excellence, Spring 2014.
Empirical Capital Markets Research, PhD Program, Berkeley-Haas.
o Earned Membership in “Club 6” for Teaching Excellence, Fall 2013.
o Earned Membership in “Club 6” for Teaching Excellence, Spring 2012.
PHD PROGRAM SERVICE
PhD Field Advisor, Accounting Group, Berkeley-Haas, May 2013-Present.
o Responsible for doctoral student recruiting and program curriculum.
Panelist for Joint Berkeley-Haas/Stanford GSB PhD Recruiting Fair, October 2016.
Ad hoc Reviewer for Doctoral Fellowships and Research Support Funds.
Currently advising the following doctoral students:
o Annika Wang (5th year student),
o Henry Laurion (4th year student),
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o Samuel Tan (4th year student),
o Jean Zeng (3rd year student),
o Margaret Fong (2nd year student),
o Nika Qiao (2nd year student),
o Sumit Gupta (2nd year student).
Served on the thesis committee for the following doctoral students (initial placement):
o James Ryans (Assistant Professor, London Business School, 2016),
o Jenny Zha (Assistant Professor, George Washington University, 2016),
o Korcan Ak (Analyst at Marshall Wace, 2016),
o Ronald Espinosa (Quantitative Research Analyst, PIMCO, 2015),
o Jackie Siriviriyakul (Assistant Professor, Baruch College, 2014),
o Harm Schütt (Assistant Professor, WHU Vallendar, 2013)
o Aydin Uysal (Research Analyst, Menta Capital LLC, 2013),
o Eric Allen (Assistant Professor, University of Southern California, 2012).
EXECUTIVE TEACHING
U.C. Berkeley, Center for Executive Education:
Faculty Director of Open Program for Executives on “Financial Acumen for Leaders”:
December 2016-Present.
o Responsible for designing and running a program on accounting and finance for
non-financial executives.
Berkeley-Haas Executive Program in Management:
Business Analysis for Non-Financial Executives:
o Spring 2016: Mean (median) rating = 6.74/7.00 (7.00/7.00)
o Fall 2015: Mean (median) rating = 6.43/7.00 (7.00/7.00)
VOLUNTEER TEACHING
Center for Teaching Excellence, Berkeley-Haas.
o Tips for Teaching Excellence: What Works for Me, Fall 2016.
Angelopoulos-Clinton Global Initiative University.
o Pitching a Start-Up Idea: From Vision to Execution, Spring 2016.
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Volunteer Instructor, Center for Young Entrepreneurs, Berkeley-Haas.
o Understanding Stock Market Prices: A Primer, Summer 2014.
o Introduction to the Stock Market Mechanism, Summer 2013.
Public Speaking/Entrepreneurship, Undergraduate Program, Berkeley-Haas.
PROFESSIONAL SERVICE AND AFFILIATIONS
Ad hoc Journal Referee:
Abacus, Accounting and Business Research, Accounting Horizons, The Accounting
Review, California Management Review, Contemporary Accounting Research, European
Accounting Review, Japanese Accounting Review, Journal of Accounting and Economics,
Journal of Accounting Research, Journal of Banking and Finance, Journal of Business
Finance and Accounting, Journal of Finance, Journal of Operations Management,
Management Science, Production and Operations Management Journal, Review of
Accounting Studies, Review of Financial Studies.
Ad hoc Reviewer:
Research Grants Council of Hong Kong, Le Fonds France-Berkeley, Annual Conference
on Financial Economics and Accounting.
Affiliations:
American Accounting Association, European Accounting Association, Hellenic Chamber
of Commerce, Hellenic Finance and Accounting Association, Onassis Foundation
Scholars’ Association.
American Accounting Association Service:
Editorial Committee Member, FARS Midyear Meeting: 2017.
Competitive Manuscript Award Committee Member: 2016.
Western Region Meeting, Doctoral Consortium Faculty Delegate: 2014, 2015.
Section Liaison for Valuation and Fundamental Analysis, Annual Meeting: 2014.
Ad hoc Referee: Annual Meetings, Western Region Meetings, FARS Midyear Meetings.
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AWARDS
2015 Recipient of the Earl F. Cheit Award for Excellence in Teaching.
o The Earl F. Cheit Award for Excellence in Teaching is the highest teaching award
bestowed upon instructors by the MBA students at Berkeley-Haas.
Top-10 Business School Professor Under 40, May 2015.
o Selected by Fortune.
World’s Best-40 Business School Professor Under 40, April 2015.
o Selected by Poets & Quants.
Barbara and Gerson Bakar Faculty Fellow, April 2014.
o Dean’s Award for a record of accomplishment at Berkeley-Haas.
Hellman Fellows Fund Award for Distinction in Research, May 2013.
o Award for distinction in research bestowed upon Assistant Professors by the
Chancellor of U.C. Berkeley: Annual Grant of $48,048.
2012 Recipient of the Earl F. Cheit Award for Excellence in Teaching.
o The Earl F. Cheit Award for Excellence in Teaching is the highest teaching award
bestowed upon instructors by the MBA students at Berkeley-Haas.
Schwabacher Award for Distinction in Research and Teaching, February 2012.
o Highest honor for distinction in research and teaching bestowed upon Assistant
Professors at Berkeley-Haas.
Competitive Manuscript Award, American Accounting Association, 2011.
o The Competitive Manuscript Award encourages research among members of the
American Accounting Association and associate members who have earned their
PhD within the past five years. The winner is chosen in a blind review.
Best Paper Award, American Accounting Association Northeast Region, 2009.
Harry and Heesun You Fellowship, Yale School of Management, 2009.
Deloitte and J. Michael Cook Doctoral Fellow, American Accounting Association, 2008.
Whitebox Behavioral Student Fellowship Grant, Yale School of Management, 2007.
A. S. Onassis Public Benefit Foundation Scholarship, 2005-2010.
Yale University Graduate School, Fellowship, 2005-2010.
Propondis Foundation Award for Academic Distinction, 2005, 2006, 2007.
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E.U. Erasmus Fellow, Lancaster University Management School, 2002-2003.
Athens University of Economics and Business Best Student Award, 2001, 2002, 2003.
Viohalco SA, Prize for Academic Distinction, 2002.
G. Chalkiopoulos Foundation Honorary Award for Academic Distinction, 2000, 2001,
2002, 2003.
Ioannis Chrysocheris Foundation Award for Academic Distinction, 2000, 2001, 2002.
Hellenic State Scholarship Foundation Best Student Award, 1999, 2000, 2001, 2002.
INVITED TALKS AND CONFERENCE PRESENTATIONS
Invited Talks:
Analysis Group, 2015.
Athens University of Economics and Business, 2010-2017.
Baruch College, 2010.
Berkeley Law, 2016.
Boston College, 2010.
Brattle Group, 2016.
California Department of Transportation, Division of Research and Innovation, 2015.
Carnegie Mellon University, 2010.
Cass School of Business, 2016.
Columbia Business School, 2010, 2015.
Duke University, 2012.
Federal Reserve Bank of San Francisco, 2014.
Georgetown University, 2012.
Harvard Business School, 2014.
HEC Lausanne, 2015.
Hong Kong University of Science and Technology, 2017 (scheduled).
IESE Business School, 2015.
Kent State University, 2016.
London Business School, 2010, 2014.
London School of Economics, 2016.
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MIT Sloan School of Management, 2013.
New York University, 2012.
Northwestern University, 2010.
Nova School of Business and Economics, 2017 (invited).
Ohio State University, 2010.
Penn State University, 2010.
Rutgers University, 2009.
Southern Methodist University, 2016.
Transportation Research Board, 2016.
Technical University of Munich, 2016.
Tokyo Keizai University, 2017 (scheduled).
University of Arizona, 2011.
University of Bern, 2010.
University of California at Berkeley, 2010.
University of California at Irvine, 2017.
University of Cyprus, 2010.
University of Florida, 2010.
University of Hong Kong, 2017 (scheduled).
University of Maryland, 2010.
University of Miami, 2010.
University of North Carolina at Chapel Hill, 2012, 2013.
University of Notre Dame, 2014.
University of Piraeus, 2012.
University of Rochester, 2015.
University of Southern California, 2014.
University of Sydney, 2016.
University of Texas at Austin, 2015.
University of Texas at Dallas, 2016.
University of Toronto, 2016.
University of Utah, 2011, 2013.
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University of Washington, 2014.
Vrije Universiteit Amsterdam, 2016.
Washington University in St. Louis, 2011.
American Accounting Association Conference Presentations:
Annual Meeting: 2008, 2009, 2010, 2011, 2014, 2015.
FARS Mid-Year Meeting, 2008, 2009, 2010.
Northeast Region Meeting, 2008, 2009.
Western Region Meeting, Doctoral Interchange, 2014, 2015.
Other Conference Presentations:
Conference on Financial Economics and Accounting, 2009, 2010, 2013, 2016.
Review of Accounting Studies Conference, 2016.
Annual Rotman Accounting Conference, University of Toronto, 2016.
London School of Economics and Political Science, Lancaster University Management
School, and Manchester Business School, 10th Joint Conference, 2016.
UCLA Accounting Mini Conference, 2016.
Methodological and Empirical Advances in Financial Analysis Research Meeting,
University of Sydney, 2016.
Transportation Research Board, Annual Meeting (Washington D.C.): 2016.
London Business School Accounting Symposium, 2014.
Multi-Disciplinary Conference on Fraud and Misconduct, U. C. Berkeley, 2013.
Onassis Cultural Center, International Conference on Economics and Enterprises, 2013.
University of North Carolina at Chapel Hill and Duke University Fall Camp, 2012.
CARE Conference on Financial Statement Analysis and Valuation, 2010.
Carnegie Mellon University, Annual Accounting Conference, 2010.
Hellenic Business Network, 2010.
Accounting Research Workshop, University of Bern, 2009.
Trans-Atlantic Doctoral Conference, London Business School, 2009.
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MISCELLANEOUS
Volunteer Aide, Emergency Team of Volunteers, Berkeley-Haas.
Member of Ralph Gracie Jiu-Jitsu Academy.
