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Mark H. Lang
Thomas W. Hudson, Jr./Deloitte L.L.P. Distinguished Professor
Kenan-Flagler Business School
University of North Carolina
July 2019

EDUCATION

Ph.D., University of Chicago Graduate School of Business, 1990.
M.B.A., University of Chicago GSB, 1986.
B.S., Sioux Falls College, 1981.
C.P.A., Oklahoma, 1983.

EXPERIENCE

University of North Carolina, Asst./Assoc./Full/Chaired Professor, 1994-
University of Queensland, Visiting Professor, 2002
Stanford University, Assistant Professor, 1989-1994
University of Chicago, Research Assistant and Tutor, 1985-1989
Amoco Corporation, Financial Analyst, 1981-1985

HONORS AND AWARDS

Notable Contribution to Accounting Research, American Accounting
Association, 2016.
Outstanding Course Award, MBA@UNC, 2013
Notable Contribution to Accounting Research, American Accounting
Association, 2013.
MBA Teaching All-Star Award, 2004-.
Weatherspoon Outstanding Research Award, 2005.
MBA Outstanding Contribution Award, 2000.
MBA Outstanding Teaching Award, 1998.
Kenan Institute Fellowship, 1998.
O’Herron Fellowship, 1996.
KPMG Peat Marwick Tax Research Opportunity Grant, 1993
KPMG Peat Marwick Faculty Research Fellowship, 1992-1993
New York Stock Exchange Grant for Research on Germany, 1992
Stanford Business School Trust Faculty Fellowship, 1991-1992
Arthur Andersen and Co. Foundation Fellowship, 1988-1989
American Accounting Association Consortium Fellow, 1988
Peat Marwick Foundation Fellowship, 1986-1987
Amoco Foundation Fellowship, 1985-1986
University of Chicago Fellowship, 1985-1989

EDITOR

Journal of Accounting and Economics, (Editor, 2019- )
Journal of Accounting Research, (Guest Editor, 2015-2018)

EDITORIAL BOARD

Journal of Accounting Research, 2000- , Journal of Accounting and
Economics, 2011-2019, The Accounting Review, 1996-1999, Review of Accounting Studies, 1996-2014, Contemporary Accounting Research, 2003- , European Accounting Review, 2015- ,Journal of Accounting, Auditing and Finance, 2011- , Journal of International Financial Management and Accounting, 1994- , Journal of International Accounting Research, 2000- , Journal of Law, Finance and Accounting, 2014- .

RESEARCH PUBLICATIONS

“Time-Varying Stock Price Response to Earnings Induced by Uncertainty
about the Time Series Process of Earnings,” Journal of Accounting Research, 1991.
“Cross-Sectional Determinants of Analyst Ratings of Corporate Disclosure,” with Russell Lundholm, Journal of Accounting Research, 1993. Abstract in The Certified Financial Analyst Digest, 1994; included in required readings for the Certified Financial Analyst Examination.
“Geographic Income Shifting by Multinationals in Response to Tax Rate Changes,” with Ken Klassen and Mark Wolfson, Journal of Accounting Research, 1993.
“The Value-Relevance of German Accounting Measures: An Empirical Analysis,” with Trevor Harris and H. Peter Moeller, Journal of Accounting Research, 1994. Abstract in the International Society of Financial Analysts Journal, 1995.
“The Effects of Accounting Diversity: Evidence from the European Union,” with Peter Joos, Journal of Accounting Research, Supplement, 1994.
“Zur Relevanz der Jahresabschlußgrößen Erfolg und Eigenkapital für die Aktienbewertung in Deutschland und den USA,“ with Trevor Harris and H. Peter Moeller, Schmalenbachs Zeitschrift für betriebswirtschaftliche Forschung, 1995.
“An Empirical Analysis of Employee Stock Option Exercise Behavior,” with Steven Huddart, Journal of Accounting and Economics, 1996. Cited in The New York Times, Business Week, Fortune, Inc. Magazine, Money, North Carolina Business, Smart Money, and The St. Louis Business Journal.
“Foreign Companies and U.S. Securities Markets: Financial Reporting Issues and Suggestions for Research,” with Carol Frost, Accounting Horizons, 1996.
“The Relation between Security Returns, Firm Earnings and Industry Earnings,” with Russell Lundholm, Contemporary Accounting Research, 1996.
“Corporate Disclosure Policy and Analyst Behavior,” with Russell Lundholm, The Accounting Review, 1996. Abstract in the National Investor Relations Institute’s Body of Knowledge, 1995.
“Book Review of ‘International Financial Reporting and Analysis: A Casebook,’” International Journal of Accounting, 1998.
“Cross-Jurisdiction Income Shifting and Earnings Valuation,” with Julie
Collins and Deen Kemsley, Journal of Accounting Research, 1998.
“Discussion of ‘Bridging the Information Gap: Quarterly Conference Calls as a Medium for Voluntary Disclosure.’” Review of Accounting Studies, 1998.
“Explaining Stock Option Exercise Through Reference Points,” with Chip Heath (Duke University) and Steven Huddart (Duke University), Quarterly Journal of Economics, 1999. Cited in the Philadelphia Enquirer and CNNfn.
“Capitalization of Capital Gains Taxes: Evidence from Stock Price Reactions to the 1997 Rate Reduction,” with Doug Shackelford, Journal of Public Economics, 1999.
“Voluntary Disclosure and Equity Offerings: Reducing Information Uncertainty or Hyping the Stock,” with Russell Lundholm, Contemporary Accounting Research, 2000. Cited in Barrons.
“Discussion of ‘Stock Performance and Intermediation Changes Surrounding Sustained Increases in Disclosure,” Contemporary Accounting Research, 2000.
“Information Distribution within Firms: Evidence from Stock Option
Exercises,” with Steven Huddart, Journal of Accounting and Economics, 2002. Winner of the Best Paper Award at the 2001 Journal of Accounting and Economics Conference.
“Empirical Evidence on the Evolution of International Earnings,” with Judy Land, The Accounting Review, 2003, presented at the 2002 Accounting Review Quality of Earnings Conference.
ADRs, Analysts, and Accuracy: Do ADRs Improve a Firm’s Information
Environment and Lower its Cost of Capital?,” with Karl Lins and Darius Miller, Journal of Accounting Research, 2003, presented at the 2002 Journal of Accounting Research Conference.
“How Representative are Cross-Listed Firms? An Analysis of Firm and
Accounting Quality,” with Jana Raedy and Michelle Yetman, Journal of Accounting Research, 2003, presented at the 2002 Journal of Accounting Research Conference.
“International Accounting in Light of Enron: Insights from Empirical Research,” N.C. Journal of International Law & Commercial Regulation, 2003, presented at the 2003 symposium on “International Accounting Standards in the Wake of Enron.”
“Employee Stock Options, Corporate Taxes and Debt Policy,” with John Graham and Doug Shackelford, Journal of Finance, 2004.
“Do Analysts Matter Most When Investors are Protected Least?: International Evidence,” with Karl Lins and Darius Miller, Journal of Accounting Research, 2004.
“Employee Stock Options and Valuation,” Monograph for the Research Foundation of the Association for Investment Management and Research, 2004.
“Bringing Down the Other Berlin Wall: Germany’s Repeal of the Corporate Capital Gains Tax,” with Courtney Edwards, Edward Maydew and Douglas Shackelford, Journal of the American Taxation Association, 2004.
“Earnings Management and Cross Listing: Are Reconciled Earnings Comparable to US Earnings,” with Jana Raedy and Wendy Wilson, Journal of Accounting and Economics, 2006, presented at the 2004 Journal of Accounting and Economics Conference.
“Employee Stock Options and Taxes,” with Courtney Edwards, John Graham and Douglas Shackelford, Journal of Investment Management, 2006.
“Governance and the Split of Options between Executive and Non-Executive Employees,” with Wayne Landsman and Shu Yeh, 2007, Journal of Accounting, Auditing and Finance, presented at the 2006 Journal of Accounting, Auditing and Finance conference
“The Effect of Sarbanes Oxley on Cross Listing: A Discussion of Piotroski and Srinivasan (2008)”, 2008, Journal of Accounting Research.
“International Accounting Standards and Accounting Quality,” with Mary
Barth and Wayne Landsman, 2008, Journal of Accounting Research.
“Analyst Following, Information Asymmetry and Cost of Capital: A Discussion of Bowen, Chang and Cheng (2008),” 2008, Contemporary Accounting Research.
“Volume and Price Patterns Around a Stock’s 52-Week Highs and Lows: Theory and Evidence,” 2009, Management Science.
“Book Review of, ‘Research, Standard Setting, and Global Financial Reporting,’ M.E. Barth, 2010, The Accounting Review.
“Transparency and Liquidity Uncertainty in Crisis Periods,” with Mark Maffett, presented at the Journal of Accounting and Economics conference, 2011, Journal of Accounting and Economics.
“Economic Effects of Transparency in International Equity Markets: A Review and Suggestions for Future Research,” with Mark Maffett, 2011, Foundations and Trends in Accounting.
“Transparency, Liquidity and Valuation: International Evidence on When Transparency Matters Most,” with Karl Lins and Mark Maffett, 2012, Journal of Accounting Research.
“Corporate Transparency and Uncertainty about Liquidity,” 2012, Journal of Applied Corporate Finance.
“Accounting Standards-Based and US GAAP-Based Accounting Amounts Comparable?” with Mary Barth, Wayne Landsman and Christopher Williams, 2012, Journal of Accounting and Economics.
“Post-Listing Performance and Private Sector Regulation: The Experience
of the AIM,” with Joseph Gerakos and Mark Maffett, presented at the Journal of Accounting and Economics conference, 2012, Journal of Accounting and Economics, 2013.
“Linking Industry Concentration to Proprietary Costs and Disclosure: Challenges and Opportunities,” with Ed Sul, Journal of Accounting and Economics conference, 2013, Journal of Accounting and Economics, 2014.
“Textual Analysis and International Financial Reporting: Large Sample Evidence,” with Lorien Stice-Lawrence, presented at the Journal of Accounting and Economics conference, 2014, Journal of Accounting and Economics, 2015.
“Do Managers Really Guide through the Fog? On the Challenges in Assessing the Causes of Voluntary Disclosure,” with Travis Dyer and Lorien Stice-Lawrence, Journal of Accounting and Economics conference, 2015, Journal of Accounting and Economics, 2016.
“CFO Narcissism and Financial Reporting Quality,” with Charles Ham, Nicholas Seybert and Sean Wang, Journal of Accounting Research, 2017.
“The Evolution of 10-K Textual Disclosure: Evidence from Latent Dirichlet Allocation” with Travis Dyer and Lorien Stice-Lawrence,
presented at the Journal of Accounting and Economics conference, 2016,
Journal of Accounting and Economics, 2017.
“What Have Learned and Where Do We Go with Textual Research? A Discussion of Cazier and Pfeiffer (2017), Journal of Financial Reporting Conference, 2017, Journal of Financial Reporting.
“Effects on Comparability and Capital Market Benefits of Voluntary
Adoption of IFRS by US firms: Insights from Voluntary Adoption of IFRS by Non-US Firms,” with Mary Barth, Wayne Landsman and Christopher Williams, 2018, Journal of Financial Reporting.
“Regulatory Cooperation and Foreign Portfolio Investment,” with Mark Maffett, James Omartian and Roger Silvers, Journal of Financial Economics, forthcoming.

WORKING PAPERS

“The Rise of US-Listed VIEs from China: Balancing State Control and
Access for Foreign Capital,” with Justin Hopkins and Donny Zhao.
“Predictive Analytics and the Changing Manufacturing Employment Relationship: Plant Level Evidence from Census Data,” with Eva Labro and Jim Omartian.
“MiFID II Unbundling and Sell Side Analyst Research,” with Jedson Pinto and Ed Sul.
“Through the Eyes of Wolves: Understanding Activist Investors through Edgar Search,” with Alon Brav and Travis Dyer
“Through the Eyes of the Founder: CEO Characteristics and Firms’ Regulatory Filings,” with Kenneth Merkley and Brad Hendricks
“Earnings Comovement and Accounting Comparability: The Effect of Mandatory IFRS Adoption,” with Mark Maffett and Ed Owens.
“Institutional Trading and Corporate Performance,” with M. McNichols.

OTHER PUBLICATIONS

Response to the FASB Exposure Draft, “Using Cash Flow Information in
Accounting Measurement,” Financial Accounting Standards Committee,
Accounting Horizons, 1998.
Response to the FASB Invitation to Comment, “Disclosure Effectiveness,” Financial Accounting Standards Committee, Accounting Horizons, 1997.
Response to the FASB Invitation to Comment, “Recommendations of the AICPA Special Committee on Financial Reporting and the Association for Investment Management and Research,” Financial Accounting Standards Committee, Accounting Horizons, 1997.
Response to the FASB Exposure Draft, “Consolidated Financial Statement: Policy and Procedures,” Financial Accounting Standards Committee, Accounting Horizons, 1996.

COURSES

Financial Reporting, M.B.A. core course
Financial Reporting, MBA@UNC core course
Financial Reporting, Semester Online, Undergraduate
Core Case Competition, M.B.A. core course
Analytical Skills Workshop, M.B.A. preparatory course
Introduction to Accounting, Undergraduate elective course
International Financial Reporting, M.B.A. elective course
Financial Accounting Research, M.A.C. elective course
Seminar in Accounting Research, Ph.D. course
Honours Accounting Research, University of Queensland

MAJOR UNIVERSITY SERVICE

UNC Committee on Appointments, Promotions & Tenure, 2015-2018
Kenan-Flagler Promotion and Tenure Committee, 2004- ; Chair, 2006- ;
Faculty Advisory Committee, 2002-2003.
MBA Revision Program Team, 1999, 2003, 2015.
Chair of the MBA Core Coordination Committee, 1997-.

OTHER

FASB Academic Advisory Research Group, 2015-.
Visiting Fellow, Initiative on Global Markets, University of Chicago, 2017
Outside Reviewer for University of Chicago, Booth, PhD Program, 2017
Discussant,“ 10-K Disclosure Repetition and Managerial Reporting
Incentives.” Journal of Financial Reporting Conference, 2017. Presentation on “The Evolution of 10-K Textual Disclosure: Evidence from Latent Dirichlet Allocation,” Journal of Accounting and
Economics Conference, MIT, 2016
Discussant, “Guiding Through the Fog: Financial Statement Complexity
and Voluntary Disclosure,” Journal of Accounting and Economics
Conference, University of Rochester, 2015.
Series of lectures as Distinguished Lecturer, Georgetown University, 2015
Series of lectures as Distinguished Lecturer for PhD students from Cornell, Columbia,
Rochester, NYU, Wharton and Penn State at Cornell University, 2015
Group Leader, Financial Reporting Issues Conference, Norwalk, CT, 2015
Presentation of “Textual Analysis and International Financial Reporting:
Large Sample Evidence,” Journal of Accounting and Economics Conference, 2014.
New Faculty Development, International Accounting Section Annual
Meeting, AAA, 2014.
Discussant, “Industry Concentration and Corporate Disclosure Policy,”
Journal of Accounting and Economics Conference, MIT, 2013.
Keynote Speaker, Cross-Listing Conference, Hong Kong Polytechnic
University, 2013
Group Leader, Financial Reporting Issues Conference, Norwalk, CT,
2012
Presentation on “Post-Listing Performance and Private Sector Regulation:
The Experience of the AIM,” Journal of Accounting and Economics
Conference, 2012.
Presentation on “Accounting and Brands,” Conference on Brands and
Branding in Law, Accounting and Marketing, 2012.
Presentation on “(Why) Does Transparency Matter,” Journal of
Accounting, Auditing and Finance Conference, 2011.
Distinguished Resident Faculty and speaker on “International Research,”
AAA Doctoral Consortium, Lake Tahoe, 2011.
Presentation on “Transparency, Liquidity and Crises” at the CARE/
CEASA Conference, 2011.
Presentation on “Transparency and Liquidity Uncertainty in Crisis
Periods,” at Journal of Accounting and Economics Conference, 2010.
Presentation on “Transparency and Liquidity Uncertainty in Crisis
Periods,” at the FRIAS/Review of Financial Studies Conference on
“Information, Liquidity and Trust in Incomplete Financial Markets.”
Presentation on “International Accounting Research,” International
Accounting Section of the American Accounting Association, 2010.
Presentation on Transparency and Valuation, Financial Accounting
Standards Board, 2009.
Member of the Financial Accounting Standards Advisory Council
(FASAC), 2008-2012; Steering Committee Member, 2009-2012.
Presentation on “International Accounting Research,” Doctoral/New
Faculty Consortium of the International Accounting Section of the
American Accounting Association, 2009.
Roundtable testimony, IFRS in US Markets, Securities and Exchange
Commission, 2008.
Session chair, Disclosure Session, Western Finance Association annual
meeting, 2007.
Presentation on “The Impact of IFRS Adoption on the Properties of
Financial Reports,” Corporate Governance Roundtable, San Diego State
University, 2007.
Presentation on “International Accounting Standards and Accounting
Quality,” International Accounting Convergence and Capital Market
Integration Conference, New York University, 2006.
Presentation on “International Accounting Standards and Accounting
Quality,” Sanford Bernstein Conference on Controversies in Quantitative
Finance, 2006.
Presentation on “Law Endowments and Property Rights,” Conference on
the Foundations of Accounting, Emory University, 2006.
Visiting Faculty and presenter on International Accounting Quality,
American Accounting Association Doctoral Consortium, Tahoe, 2005.
Session organizer and moderator, Accounting and Corporate Finance
Session, American Finance Association annual meeting, 2005.
Presentation on International Accounting Research to the Canadian
Academic Accounting Association Doctoral Consortium, 2004.
Discussant at the National Bureau of Economic Research, Public
Economics Section, 2004.
Discussant at the Contemporary Accounting Research conference, 2004.
Presentation on “International Accounting in Light of Enron: Insights
from Empirical Research,” N.C. Journal of International Law &
Commercial Regulation symposium on “International Accounting
Standards in the Wake of Enron.”
Academic representative on the AICPA Blockage Factor Taskforce, 2002-
2003.
Member of the International Accounting Standards Board Shared-Based
Payment Advisory Group, 2002.
Presentation of the National Association of Stock Plan Professionals on
Employee Stock Options, 2000.
Testimony before the Financial Accounting Standards Board on “Using
Cash Flow Information in Accounting Measurement,” 1998.
Discussant at the Review of Accounting Studies and Contemporary
Accounting Research conferences, 1998.
Chairman of the Annual Program Committee of the American Accounting
Association’s Financial Reporting Section, 1997.
Presentation at the Association for Investment Management and Research
Annual Meeting on International Accounting Standards, 1997.
Discussant at the Financial Reporting Section Conference, 1997.
Panelist on International Accounting Standards, American Accounting
Association Annual Meeting, 1997.
Presentation at the FASB on “Recommendations of the AICPA Special
Committee on Financial Reporting and the Association for Investment
Management and Research,” 1997.
Presentation at the AAA/FASB Conference on the future of the accounting
model, 1996.
Testimony before the Financial Accounting Standards Board on
Consolidation Policy and Procedures, 1996.
Member of the Editorial Board, Review of Accounting Studies, 1996 – .
Member of the Doctoral Consortium Committee of the American
Accounting Association, 1996.
Presentation to the National Association of Stock Plan Professionals on
Employee Stock Options, 1995.
Moderator at the International Accounting Research Conference of the
American Accounting Association, 1995.
Presentation to the Financial Accounting Standards Board on Employee
Stock Options, 1994.
Presentation to the ShareData Annual Users Conference on Employee
Stock Options, 1994 and 1995.
Chairman of the Annual Program Committee of the American Accounting
Association’s International Accounting Section, 1994.
Member of the International Accounting Research Conference Committee
of the American Accounting Association, 1994-1995.
Presentation on International Stock Valuation, at the Stanford Center for
International Security and Arms Control Defense Conversion, 1993.
Member of the American Accounting Association’s International
Accounting Research Conference Proposal Committee, 1992.
Co-organizer and speaker at the Conference on Financial Management
Under the Market Economy, Moscow State University, 1992.
Presentation on Business Accounting, Investment and Finance at the
International Security and Arms Control Conference on Industrial
Demilitarization, Privatization, Economic Reform, and Investment in
Russia, 1992.
Presentation on International Accounting Issues to visiting members of the
Swedish Association of CPA’s, 1991 and 1992.
Faculty mentor to Prof. Tatiana Krylova, Moscow State Univ., 1991-92.
Reviewer for the Journal of Accounting Research, Journal of Accounting and Economics, Journal of Financial Economics, Journal of Finance, Review of Financial Studies, Contemporary Accounting Research, Management Science, The Accounting Review, National Tax Journal, Review of Accounting Studies, Journal of Public Economics, Journal of International Accounting, Accounting and Business Research, Journal of Accounting, Auditing and Finance, Asian Business Journal, Advances in International Accounting, and Southwestern Publishing.

PRESENTATIONS

University of Arizona, 1993
Arizona State University, 2015
Baruch College, 2015
University of British Columbia, 2007
Boston Area Research Consortium, 2008
Bristol University, 2016
University of California-Berkeley, 1989, 1992, 2002
University of California-Davis, 1992
University of California-Los Angeles, 1992
University of Chicago, 2009, 2017
University of Colorado, 2018
Columbia University, 1989, 1993, 1996
Cornell University, 1989, 1997, 2003, 2010, 2015
Dartmouth College, 2018
Duke University, 1989, 1997, 2005
Emory University, 1993, 2000
Exeter University, 2016
FRIAS Center, Freiburg University, 2010
George Washington University, 2006
Georgetown, 2015
Harvard University, 1992, 1996, 2011, 2017
Hong Kong Polytechnic University, 2013
Indiana University, 2016
University of Iowa, 1989, 2011
University of Kansas, 1998
London Business School, 2004, 2014
University of Maryland, 2000
Massachusetts Institute of Technology, 1993, 2003, 2010, 2015, 2017
University of Melbourne, 2003
University of Miami, 2017
University of Michigan, 1989, 1995, 1999, 2008
University of Minnesota, 2004, 2012
Monash University, 2003
Moscow State University, 1992
University of Nebraska, 1993
New York University, 1996, 2006, 2011
University of North Carolina, 1993, 1994, 1995
Northwestern University, 1989, 1990, 1996, 2011
Ohio State University, 1996
University of Oregon, 2009
University of Oklahoma, 2004
Oklahoma State University, 2006
PCAOB, 2019
University of Pennsylvania, 1989, 1996, 2001, 2005, 2007, 2009, 2014
Pennsylvania State University, 1999, 2008, 2013
University of Queensland, 2003
Queensland Institute of Technology, 2003
Rice University, 2018
University of Rochester, 1989, 2012, 2016
San Diego State University, 2007, 2015
Santa Clara University, 2018
Stanford University, 1989, 1990, 1991, 1992, 1993, 1994, 2016
University of Southern California, 2003
Southern Methodist University, 2005
Temple University, 2009, 2017
Tilburg University, 2010
University of Texas, 1989, 2007, 2010
Tilburg University, 2010
University of Toronto, 2003, 2013
University of Utah, 2016
Washington University, 1989, 1993, 2014
University of Virginia, 2005, 2009
Virginia Commonwealth University, 2013
University of Washington, 1992
University of Waterloo, 2012
William and Mary University, 1997
Yale University, 1989, 2012
Journal of Accounting and Economics Conference, 1991 (presenter), 2002 (presenter), 2004 (presenter), 2010 (presenter), 2012 (presenter), 2013 (discussant), 2014 (presenter), 2015 (discussant), 2016 (presenter).
Journal of Accounting Research Conference, 1993 (presenter), 1994 (presenter), 2002 (presenter), 2005 (presenter), 2008 (discussant).