Catherine M. Schrand

Catherine M. Schrand is a Professor in the Accounting Department at the University of Pennsylvania's Wharton School. Her research interests include disclosure, earnings quality, and risk management. She has published in leading journals such as the Journal of Accounting and Economics, The Accounting Review, and the Journal of Finance. Schrand is an associate editor of several academic journals and has authored works like 'Understanding Earnings Quality.' She teaches undergraduate and doctoral-level courses in financial accounting and research. Schrand received her PhD from the University of Chicago and her BBA from the University of Michigan. Prior to her academic career, she worked as a staff auditor and audit manager at KPMG Peat Marwick.

Catherine Schrand's research focuses on financial reporting, earnings quality, and corporate governance. Her work examines the determinants and consequences of earnings quality, the role of disclosures in financial markets, and the impact of accounting practices on corporate behavior. She investigates how firms manage earnings, the effects of cash flow volatility on investment decisions, and the implications of derivative instruments and hedging strategies. Schrand also explores the relationship between risk, financial reporting, and equity valuation, with an emphasis on the costs of debt and equity financing. Her research highlights the importance of transparency and disclosure in reducing information asymmetry and improving market efficiency.