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David F. Larcker

Professor, Accounting
DavidF.Larcker
James Irvin Miller Professor of Accounting
Professor of Law (by courtesy), Stanford Law School
Morgan Stanley Director of the Center for Leadership Development and Research
Co-director of the Directors' Consortium Executive Program
Senior Faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford
Winnick Family Faculty Fellow for 2013-2014
Academic Area: 
Accounting

Research Statement

Professor Larcker’s research focuses on executive compensation, corporate governance, and managerial accounting. His work examines the choice of performance measures and compensation contracts in organizations. He has current research projects on the valuation implications of corporate governance, role of the business press in the debate on executive compensation, and modeling the cost of executive stock options.

Bio

Professor Larcker presently holds the James Irvin Miller Professorship. He is the director of the Corporate Governance Research Program at the Stanford Graduate School of Business and senior faculty of the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford University. Professor Larcker was previously the Ernst & Young Professor of accounting at the Wharton School of the University of Pennsylvania and Professor of accounting and information systems at the Kellogg Graduate School of Management at Northwestern University. He received his PhD in Business from the University of Kansas and his BS and MS in Engineering from the University of Missouri- Rolla.

He is on the editorial boards of the Journal of Accounting and Economics, Journal of Accounting Research, Accounting, Organizations and Society, Journal of Accounting and Public Policy, Journal of Applied Corporate Finance. Professor Larcker received the Notable Contribution to Managerial Accounting Research in 2001.

Academic Degrees

  • PhD, University of Kansas, 1978
  • MS, University of Missouri-Rolla, 1974
  • BS, University of Missouri-Rolla, 1972

Academic Appointments

  • At Stanford University since 2005
  • Ernst & Young Professor of Accounting, The Wharton School, University of Pennsylvania, 1985-2005
  • Assistant Professor - Professor, J.L. Kellogg Graduate School of Management, Northwestern University, 1978-1985

Awards and Honors

  • PhD Faculty Distinguished Service Award, Stanford GSB, 2010
  • Notable Contribution to Managerial Accounting Research, 2001

Publications

Journal Articles

David F. Larcker, Eric C. So, Charles C.Y. Wang . Journal of Accounting & Economics. 2013, Vol. 55, Issue 2–3, Pages 225–250.
Christopher S. Armstrong, David F. Larcker, Gaizka Ormazabal, Daniel J. Taylor. Journal of Financial Economics. 2013, Vol. 109 , Issue 2, Pages 327-350.
David F. Larcker, Allan L. McCall , Brian Tayan. The Conference Board Directors Note. March 2012.
Christopher S. Armstrong, Christopher D. Ittner, David F. Larcker. Review of Accounting Studies. 2012, Vol. 17, Issue 2, Pages 322-351.
David F. Larcker, Anastasia A. Zakolyukina. Journal of Accounting Research. 2012, Vol. 50, Issue 2, Pages 495–540.
Chris Armstrong, Jennifer L. Blouin, David F. Larcker. Journal of Accounting and Economics. 2011, Vol. 53, Issue 1–2, Pages 391-411.
David F. Larcker, Gaizka Ormazabal , Daniel J. Taylor . Journal of Financial Economics. 2011, Vol. 101, Issue 2, Pages 431-448.
Robert Daines, Ian D. Gow, David F. Larcker. Journal of Financial Economics. December 2010, Vol. 98, Issue 3, Pages 439-461.
David F. Larcker, Tjomme O. Rusticus. European Accounting Review. May 2007, Vol. 16, Issue 1, Pages 207-215.
David F. Larcker, Scott A. Richardson, I˙rem Tuna. The Accounting Review. 2007, Vol. 82, Issue 4, Pages 963-1008.
Christopher D. Ittner , David F. Larcker, Mina Pizzini. Journal of Accounting and Economics. 2007, Vol. 44, Issue 3, Pages 300–327.
David F. Larcker, Scott A. Richardson. Journal of Accounting Research. June 2004, Vol. 42, Issue 3, Pages 625-658.
Christopher D Ittner, David F. Larcker, Taylor Randall. Accounting, Organizations and Society. October 2003, Vol. 28, Issue 7-8, Pages 715-741.
Christopher D. Ittner, Richard A. Lambert, David F. Larcker. Journal of Accounting and Economics. January 2003, Vol. 34, Issue 1-3, Pages 89-127.

Books

David F. Larcker, Brian Tayan Larcker and Tayan, 2013.
David F. Larcker, Brian Tayan Pearson Prentice Hall, 2011.

Working Papers

The Economic Consequences of Proxy Advisor Say-on-Pay Voting Policies | PDF
David F. Larcker, Allan McCall, Gaizka Ormazabal2012
The Efficacy of Shareholder Voting: Evidence from Equity Compensation Plans | PDF
David F. Larcker, Christopher Armstrong, Ian Gow2012
The Relation Between Equity Incentives and Misreporting: The Role of Risk-Taking Incentives | PDF
David F. Larcker, Christopher Armstrong, Gaizka Ormazabal, Daniel Taylor2012
Boardroom Centrality and Stock Returns | PDF
David F. Larcker, Eric So, Charles Wang2010
Corporate Governance, Compensation Consultants, and CEO Pay Levels | PDF
David F. Larcker, Christopher Armstrong, Christopher Ittner2010
Detecting Deceptive Discussions in Conference Calls | PDF
David F. Larcker, Anastasia Zakolyukina2010
Endogenous Selection and Moral Hazard In Compensation Contracts | PDF
David F. Larcker, Christopher Armstrong, Che-Lin Su2010
Performance-Based Incentives for Internal Monitors | PDF
David F. Larcker, Christopher Armstrong, Alan Jagolinzer2010
The Market Reaction to Corporate Governance Regulation | PDF
David F. Larcker, Gaizka Ormazabal, Daniel Taylor2010
The Incentives for Tax Planning | PDF
David F. Larcker, Christopher Armstrong, Jennifer Blouin2009
The Stock Market's Pricing of Customer Satisfaction | PDF
David F. Larcker, Christopher Ittner, Daniel Taylor2009
Timing of Employee Stock Option Exercises and the Cost of Stock Option Grants
Chris Armstrong , Alan D. Jagolinzer , David F. Larcker, June 12007

Courses Taught

Degree Courses

2013-14

The course will examine the academic and professional controversies surrounding corporate governance and executive compensation. A basic framework will be developed to integrate the many important dimensions of corporate governance in the U.S....

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

2012-13

This course is focused on helping students understand the role boards and board members play in corporate governance and the lives of businesses large and small. This case-driven course is designed to help students who plan to serve on boards as...

This course examines selected topics in accounting research. The course features four faculty who will each give a focused look at a given area, introduce students to important questions in that area, key papers in the related literature, and...

2010-11

This course examines selected topics in accounting research. The course features four faculty who will each give a focused look at a given area, introduce students to important questions in that area, key papers in the related literature, and...

Stanford Case Studies

CGRP38 | Corporate Governance According to Charles T. Munger
David F. Larcker, Brian Tayan2014
CGRP39 | Seven Myths of CEO Succession
David F. Larcker, Stephen A. Miles, Brian Tayan2014
CGRP36 | Separation Anxiety The Impact of CEO Divorce on Shareholders
David Larcker, Allan McCall, Brian Tayan2013
CGRP37 | Sneak Preview How ISS Dictates Equity Plan Design
Ian D. Gow, David F. Larcker, Allan McCall, Brian Tayan2013
CGRP34 | Trust The Unwritten Contract in Corporate Governance
David Larcker, Brian Tayan2013
CGRP27 | Fixed or Contingent How Should "Governance Monitors" Be Paid?
David Larcker, Brian Tayan2012
CGRP-28 | Is a Powerful CEO Good or Bad for Shareholders?
David Larcker, Brian Tayan2012
CGRP25 | Monitoring Risks Before They Go Viral Is it Time for the Board to Embrace Social Media?
David F. Larcker, Sarah M Larcker, Brian Tayan2012
CGRP26 | The Myths of 'Say on Pay'
David F. Larcker, Allan McCall, Gaizka Ormazabal, Brian Tayan2012
CGRP23 | What Is CEO Talent Worth?
David F. Larcker, Brian Tayan2012
CGRP12 | CEO Health Disclosure at Apple A Public or Private Matter?
David F. Larcker, Brian Tayan2011
CGRP13 | Do ISS Voting Recommendations Create Shareholder Value?
David F. Larcker, Brian Tayan2011
HR29B | Keller Williams Realty (B)
James Baron, David Larcker, Brian Tayan2011
CGRP21 | Leadership Challenges at Hewlett-Packard Through the Looking Glass
David F. Larcker, Brian Tayan2011
CGRP16 | Seven Myths of Corporate Governance
David F. Larcker, Brian Tayan2011
CGRP17 | Seven Myths of Executive Compensation
David F. Larcker, Brian Tayan2011
CGRP15 | Tesla Motors The Evolution of Governance from Inception to IPO
David F. Larcker, Brian Tayan2011
CGRP20 | The NCAA Adopts "Dodd-Frank" A Fable
David F. Larcker, Brian Tayan2011
CGRP22 | What Does It Mean for an Executive to Make A Million?
David F. Larcker, Allan McCall, Brian Tayan2011
CG18 | Baker Hughes, Foreign Corrupt Practices Act
David Larcker, Brian Tayan2010
CGRP02 | Berkshire Hathway The Role of Trust in Governance
David F. Larcker, Brian Tayan2010
CGRP05 | CEO Succession Planning Who's Behind Door Number One?
David F. Larcker, Brian Tayan2010
CGRP01 | Closer Look Series RiskMetrics Uninvited Guest at the Equity Table
David F. Larcker, Brian Tayan2010
CGRP08 | Director Networks Good for the Director, Good for Shareholders
David F. Larcker, Brian Tayan2010
CG19 | Equity on Demand, The Netflix Approach to Compensation
David Larcker, Allan McCall, Brian Tayan2010
CGRP07 | Financial Manipulation Words Don't Lie
David F. Larcker, Brian Tayan2010
CGRP03 | Lehman Brothers Peeking under the Board Facade
David F. Larcker, Brian Tayan2010
CGRP11 | Pledge (and Hedge) Allegiance to the Company
David F. Larcker, Brian Tayan2010
CGRP09 | Pro Forma Earnings What's Wrong with GAAP?
David F. Larcker, Brian Tayan2010
CGRP06 | Proxy Access A Sheep, or Wolf in Sheep's Clothing?
David F. Larcker, Brian Tayan2010
CG17A | Royal Dutch/Shell, A Shell Game with Oil Reserves (A)
David Larcker, Robert Lawson, Brian Tayan2009
CG16 | The Management of Berkshire Hathaway
David Larcker, Brian Tayan2009
CG12 | Say on Pay, Does the Buck Stop Here?
David Larcker, Brian Tayan2008
CG10 | 10b5-1 Plans, Mortgaging a Defense Against Insider Trading
David Larcker, Brian Tayan2007
CG09 | Shareholder Democracy, Does Gretchen Get It Right?
David Larcker, Brian Tayan2007

Stanford University Affiliations

Stanford GSB

Service to the Profession

Member

  • Accounting, Organization and Society, 1996-present
  • American Accounting Association
  • Journal of Accounting and Public Policy, 2002-present

Advisory Board

  • Journal of Applied Corporate Finance, 2004-present

Corporate Governance

  • Internal Governance, Organization, & Processes Abstracts Advisory Board
  • Corporate Governance Network, SSRN, 2009-present

In the Media

Forbes, June 11, 2009
Wall Street Journal, April 19, 2007
The Christian Science Monitor, February 4, 2007