Alina Lerman

Assistant Professor of Business University of Connecticut

  • Storrs CT

Alina Lerman is an expert in the role of accounting information in capital markets, investor sophistication, and corporate reporting.

Contact

University of Connecticut

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Biography

Alina Lerman researches the role of accounting information in capital markets, investor sophistication, corporate mandatory and voluntary disclosure, and accounting regulation. She teaches in the MBA, Executive MBA and Ph.D. programs. Prior to her own graduate studies, Lerman worked in the securities litigation and forensic accounting practice of LECG.

Areas of Expertise

Corporate Regulation
Economics
Accounting
Investment
Forensic Accounting

Education

New York University

Ph.D.

Accounting

New York University

B.S.

Economics, summa cum laude

Social

Articles

Information transfer and conference calls

Review of Accounting Studies

2018

A long-standing literature documents intra-industry capital market co-movements around earnings releases, yet the dynamics of these information transfers remain largely unexplored. We provide evidence on both the sources and channels of information transfers by separating two distinct events within the reporting window using intra-day data and by exploring potential mechanisms of information flows.

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The Changing Landscape of Accrual Accounting

Journal of Accounting Research

2015

A fundamental property of accrual accounting is to smooth temporary timing fluctuations in operating cash flows, indicating an inherent negative correlation between accruals and cash flows. We show that the overall correlation between accruals and cash flows has dramatically declined in magnitude over the past half century and has largely disappeared in more recent years.

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Who, if anyone, reacts to accrual information?

Journal of Accounting and Economics

2012

We show that the vast majority of investors ignore value-relevant accruals information when it is first released, but that investors who initiate trades of at least 5,000 shares tend to transact in the proper direction. These investors trade on accruals information only when the previously-announced earnings signal is non-negative.

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