IDSE Seminar Series Event
Date: March 26, 2013 from 6:00 pm to 8:00 pm EDT
Location: 412 Schapiro CEPSR (Davis Auditorium)
Contact: For further information regarding this event, please contact Lauren Mazurowski by sending email to lm2963@columbia.edu .
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Topic: Analytic Accounting Risk Modeling at the SEC
Guest Speaker: Craig Lewis, Director and Chief Economist for the U.S. Securities and Exchange Commission

Craig M. Lewis is Chief Economist and Director of the Division of Risk, Strategy, and Financial Innovation at the U.S. Securities and Exchange Commission.  He is currently on leave from Vanderbilt University where he is the Madison S. Wigginton Professor of Finance at the Owen Graduate School of Management.
He first served at the SEC as a visiting Economic Fellow from January 2010 through July 2010, and subsequently returned in the same capacity in January 2011.  Lewis has conducted research on volatility in stock and futures markets, margin adequacy, corporate earnings management, corporate financial policy, executive compensation, selective disclosure, and herd behavior by equity research analysts.  His research has been published in the Journal of Financial Economics, Review of Financial Studies, Journal of Econometrics, Journal of Financial and Quantitative Analysis, among other places. He is associate editor of the Journal of Corporate Finance, Journal of Business Accounting and Finance, and the North-American Journal of Economics and Finance, and has been associate editor of the Journal of Financial Research.

Abstract: The presentation will describe the Accounting Quality Model that the SEC's Division of Risk, Strategy, and Financial Innovation is developing to estimate discretionary accounting accruals. The model is based on financial statement that is obtained from required XBRL filings that are submitted by corporate filers. Model estimates will be used to identify outlier accounting choices.

Location: Davis Auditorium
Date: Tuesday, March 26
Time: 6 pm to 7 pm, Light reception after the event in the lobby