Gil Sadka
Gil Sadka
Associate Professor of Accounting
Columbia Business School

3022 Broadway, 613 Uris Hall
New York, NY  10027
Phone: (212) 854-5391
Fax: (212) 316-9219

Teaching and Research Interests:

Professor Sadka joined Columbia Business School in July 2005 and serves as the PhD coordinator of the Accounting Division. Professor Sadka's research focuses primarily on equity valuation. In his research on equity valuation, he examines the role of earnings and earnings predictability in generating stock price volatility and the implications for asset prices. His studies explore issues related to aggregate (market-wide) earnings and aggregate stock price movement. Professor Sadka's research also focuses on the implications of accounting practice on contracting and other actions taken by firm managers as well as by their competitors. This line of research focuses on how earnings information is used by consumers of financial statements and how different demands shape accounting practice. Professor Sadka's research has been published in leading accounting and finance journals such as Journal of Accounting Research, Journal of Accounting and Economics, Review of Accounting Studies, American Law and Economics Review, and Journal of Financial Economics. Prior to joining the PhD program at the University of Chicago, Professor Sadka has worked in the Israeli Accounting Standard Board. Professor Sadka teaches Earnings Quality and Fundamental Analysis as well as a PhD seminar. He earned his MBA and PhD from University of Chicago Booth School of Business in 2005.

Forthcoming and Published Papers:

Legal Environment and The Differential Performance of Publicly Traded and Privately Held Firms, 2013, Forthcoming International Journal of Finance (with Bjorn Jorgensen, Yaniv Konchitchki, and N. Bugra Ozel)

Earnings Dispersion and Aggregate Stock Returns, 2012, Journal of Accounting and Economics Vol. 53, 1-20 (with Bjorn Jorgensen and Jing Li)

Aggregate Earnings and Asset Prices, 2009, Journal of Accounting Research vol. 47, issue 5, 1097-1133 (with Ray Ball and Ronnie Sadka) Paper on SSRN

Liquidity and the Post-Earnings-Announcement Drift, 2009, Financial Analysts Journal Vol. 65 No. 4, 18-32 (with Tarun Chordia, Amit Goyal, Ronnie Sadka, and Lakshmanan Shivakumar) Paper on SSRN

Predictability and the Earnings-Returns Relation, 2009, Journal of Financial Economics Vol. 94, 87-106 (with Ronnie Sadka) Paper on SSRN

Is Financial Reporting Shaped by Equity Markets or by Debt Markets? An International Study of Timeliness and Conservatism, Review of Accounting Studies Volume 13 (2-3), 2008, 168-205 (With Ray Ball and Ashok Robin)

Understanding Stock-Price Volatility: The Role of Earnings, 2007, Journal of Accounting Research Vol. 48, No. 1, 199-228

The Economic Consequences of Accounting Fraud in Product Markets: Theory and a case from the US Telecommunication Industry (WorldCom), American Law and Economics Review Volume 8(3), 2006, 439-475

Working Papers:

Are Accounting Standards Diversifiable? Evidence of the Aggregate Valuation Effects of Standards, 2011, Working Paper – Columbia University (with Bjorn Jorgensen and Jing Li)

Illiquidity and Earnings Predictability, 2011, Working Paper – Columbia University (with Jon Kerr and Ronnie Sadka)

Underreaction or Risk? Expected Earnings and the Post-Earnings-Announcement Drift, 2011, Working Paper – Columbia University (with Yaniv Konchitchki, Xiaoxia Lou and Ronnie Sadka)

The Effects of Increasing Lending to Constrained Firms During a Crisis: Evidence from an Accounting Based Shock to Debt Capacity, 2011, Working Paper – Columbia University (with Moshe Cohen and Sharon Katz)

Earnings News and Aggregate Stock Returns, 2011, Working Paper – Columbia University (with Jung Ho Choi and Alon Kalay)

Courses Taught:

Spring 2011
(PhD) Seminar Empirical Research
Earnings Quality and Fundamental Analysis

Spring 2010
(PhD) Seminar Empirical Research
Earnings Quality and Fundamental Analysis

Spring 2009
(PhD) Seminar Empirical Research
Performance Measurement

Spring 2008
(PhD) Seminar Empirical Research
Accounting II - Managerial

Spring 2007
Accounting II - Managerial

Summer 2006
Accounting II-Managerial