W. Brooke Elliott

W. Brooke Elliott

Professor of Accountancy and Department Head and Ernst & Young Distinguished Professor in Accounting

  • Email

Contact

360D Wohlers Hall

1206 S. Sixth

Champaign, IL 61820

217-333-9247

wbe@illinois.edu

Vita

Listings

Educational Background

  • Ph.D., Accounting, Dissertation: Reconciling GAAP losses and pro forma profits: Effects on investor judgements, University of Washington, 2003
  • B.S., Accounting, Indiana University, 1999
  • M.B.A., Indiana University, 1999

Positions Held

  • Department Head, Department of Accountancy, University of Illinois at Urbana-Champaign, 2017 to present
  • Ernst & Young Distinguished Professor in Accountancy, Accountancy, University of Illinois, 2016-2019
  • Ernst & Young Distinguished Professor in Accounting, University of Illinois at Urbana-Champaign, 2016 to present
  • Academic Director of Undergraduate Affairs, College of Business, University of Illinois at Urbana-Champaign, 2015-2016
  • Professor of Accountancy, University of Illinois at Urbana-Champaign, 2015 to present
  • Associate Professor of Accountancy, University of Illinois at Urbana-Champaign, 2010-2015
  • Assistant Professor of Accountancy, University of Illinois at Urbana-Champaign, 2003-2010

Recent Publications

  • Elliott, W., Fanning, K., & Peecher, M. Forthcoming (2020). Do Investors Value Higher Financial-Reporting Quality, and Can Expanded Audit Reports Unlock This Value? The Accounting Review,.
  • Elliott, W., Rennekamp, K., & White, B. (2018). The Paradoxical Behavioral Effects of a Directional Goal on Investors' Risk Perceptions and Valuation Judgments. Journal of Behavioral Finance, 19 (3), 271-290.
  • Asay, S., Elliott, W., & Rennekamp, K. (2017). Disclosure Readability and the Sensitivity of Investors' Valuation Judgments to Outside Information. The Accounting Review,.
  • Elliott, W., Grant, S., & Rennekamp, K. (2017). How Disclosure Features of Corporate Social Responsibility Reports Interact with Investor Numeracy to Influence Investor Judgments. Contemporary Accounting Research,.

Other Publications

Article

  • Elliott, W., Hobson, J., & White, B. (2015). Earnings Metrics, Information Processing, and Price Efficiency in Laboratory Markets. Journal of Accounting Research, 53 (3), 555-592.
  • Elliott, W., Rennekamp, K., & White, B. (2015). Does Concrete Language in Disclosures Increase Willingness to Invest? Review of Accounting Studies, 20 (1), 839-865.
  • Elliott, W. (2015). Discussion of "Does Coordinated Presentation Help credit Analysts Identify Firm Characteristics?". Contemporary Accounting Research, 32 (2), 528-533.
  • Elliott, W., Jackson, K., Peecher, M., & White, B. (2014). The Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value. The Accounting Review, 89 (1), 275-302.
  • Brown, N., Christensen, T., Elliott, W., & Mergenthaler, R. (2012). Investor Sentiment and Pro Forma Earnings Disclosures. Journal of Accounting Research, 50 (1), 1-40.
  • Elliott, W., Hodge, F., & Sedor, L. (2012). Using Online Video to Announce a Restatement: Influences on Investment Decisions and the Mediating Role of Trust. The Accounting Review, 87 (2), 513-535.
  • Brown, N., Christensen, T., & Elliott, W. (2012). The Timing of Quarterly "Pro Forma" Earnings Announcements. Journal of Business Finance and Accounting, 39 (3&4), 315-359.
  • Brown, N., Christensen, T., & Elliott, W. (2012). The timing of quarterly 'pro forma' earnings announcements. Journal of Business Finance and Accounting, 39 (3/4), 315-359.
  • Brown, N., Christensen, T., Elliott, W., & Mergenthaler, R. (2012). Investor sentiment and pro forma earnings disclosures. Journal of Accounting Research, 50 (1), 1-40.
  • Elliott, W., Hobson, J., & Jackson, K. (2011). Disaggregating Management Earnings Forecasts to Reduce Investors' Susceptibility to Earnings Fixation. The Accounting Review, 86 (1), 185-208.
  • Elliott, W., Krische, S., & Peecher, M. (2010). Expected Mispricing: The Joint Influence of Accounting Transparency and Investor Base. Journal of Accounting Research, 48 (2), 343-381.
  • Elliott, W., Hodge, F., & Jackson, K. (2008). The Association between Nonprofessional Investors' Information Choices and Their Portfolio Returns. Contemporary Accounting Research, 25 (2), 473-498.
  • Elliott, W., Hodge, F., Kennedy, J., & Pronk, M. (2007). Are M.B.A. Students a Good Proxy for Nonprofessional Investors? The Accounting Review, 82 (1), 139-168.
  • Elliott, W. (2006). Are Investors Influenced by Pro Forma Emphasis and Reconciliations in Earnings Announcements? The Accounting Review, 81 (1), 113-133.

Case Study

  • Elliott, W., Bowen, B., & Kennedy, J. (2002). Amazon.com's Earnings Target. Individual Case.

Presentation

  • Elliott, W. (2013). Does Highlighting Concrete Language in Disclosures Mitigate Home Bias? University of Maryland.
  • Elliott, W. (2013). Earnings Metrics, Motivated Reasoning and Market Efficiency. University of San Diego.
  • Elliott, W. (2013). Earnings Metrics, Motivated Reasoning and Market Efficiency. Journal of Accounting Research Conference.
  • Elliott, W. (2012). Does Highlighting Concrete Language in Disclosures Mitigate Home Bias? University of Massachusetts.
  • Elliott, W. (2012). Does Highlighting Concrete Language in Disclosures Mitigate Home Bias? American Accounting Association ABO Section Meeting.
  • Elliott, W. (2012). Earnings Metrics, Motivated Reasoning and Market Efficiency. University of Iowa.
  • Elliott, W. (2012). Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value. American Accounting Association FARS Section Meeting.
  • Elliott, W. (2011). How do Investors Assess the Relevance of Earnings Metrics? The Joint Influence of Investor Status and Earnings Content. American Accounting Association FARS Section Midyear Conference.
  • Elliott, W. (2011). Mitigating the Unintended Effect of Corporate Social Responsibility Performance on Investors' Estimates of Fundamental Value. University of South Carolina.
  • Elliott, W. (2010). How do Investors Assess the Relevance of Earnings Metrics? The Joint Influence of Investor Status and Earnings Content. American Accounting Association ABO Section Meeting.
  • Elliott, W. (2010). How do Investors Assess the Relevance of Earnings Metrics? The Joint Influence of Investor Status and Earnings Content. University of Wisconsin.
  • Elliott, W. (2010). How do Investors Assess the Relevance of Earnings Metrics? The Joint Influence of Investor Status and Earnings Content. Georgia Institute of Technology.
  • Elliott, W. (2009). Analysts Expectations of Mispricing: The Joint Effects of Accounting Disclosure and Investor Base. American Accounting Association FARS Section Meeting.
  • Elliott, W. (2009). Does Using Online Video to Announce a Restatement Affect Investor Decisions? University of Georgia.
  • Elliott, W. (2009). Investor Sentiment and Pro Forma Earnings Disclosures. University of Washington.
  • Elliott, W. (2009). Using Online Video to Announce a Restatement: Influences on Investment Decisions and the Mediating Role of Trust. American Accounting Association ABO Section Meeting.
  • Elliott, W. (2008). Analysts Expectations of Mispricing: the Joint Effects of Accounting Disclosure and Investor Base. Arizona State University.
  • Elliott, W. (2008). Analysts Expectations of Mispricing: the Joint Effects of Accounting Disclosure and Investor Base. Indiana University.
  • Elliott, W. (2008). Do Managers Use Pro Forma Earnings Disclosures to Cater to Investor Sentiment. Annual Conference on Financial Economics and Accounting.
  • Elliott, W. (2008). The Strategic Timing of Quarterly "Pro Forma Earnings" Announcements. American Accounting Association Annual Meeting.
  • Elliott, W. (2007). Estimate-Related Disclosures and Investors' Reliability Judgments. University of Texas at Austin.
  • Elliott, W., & Smith, S. (2007). Sensitivity Disclosures in Financial Reporting: The Effect of Hypothetical Changes on Investors' Judgments. American Accounting Association Annual Meeting.
  • Elliott, W., & Smith, S. (2007). Sensitivity Disclosures in Financial Reporting: The Effect of Hypothetical Changes on Investors' Judgments. Hong Kong University of Science and Technology.
  • Elliott, W., Brown, N., & Christensen, T. (2007). Strategic Timing of Pro Forma Earnings Announcements. Annual Conference on Financial Economics and Accounting.
  • Elliott, W., Brown, N., & Christensen, T. (2007). Strategic Timing of Pro Forma Earnings Announcements. American Accounting Association FARS Meeting.
  • Elliott, W., & Jackson, K. (2006). Sensitivity Disclosures in Financial Reporting: The Effect of Hypothetical Changes on Investors' Judgments. American Accounting Association ABO Research Conference.
  • Elliott, W., Hodge, F., & Jackson, K. (2006). The Association between Non-professional Investors' Information Choices and Their Portfolio Returns: The Importance of Investing Experience. University of Southern California.
  • Elliott, W., Hodge, F., & Jackson, K. (2005). The Association between Non-professional Investors' Information Choices and Their Portfolio Returns: The Importance of Investing Experience. American Accounting Association ABO Research Conference.
  • Elliott, W., Hodge, F., & Jackson, K. (2005). The Association between Non-professional Investors' Information Choices and Their Portfolio Returns: The Importance of Investing Experience. University of British Columbia, Oregon and Washington (UBCOW) Conference.
  • Elliott, W., Hodge, F., & Jackson, K. (2005). The Association between Non-professional Investors' Information Choices and Their Portfolio Returns: The Importance of Investing Experience. Cornell University.
  • Elliott, W., Hodge, F., & Jackson, K. (2005). The Association between Non-professional Investors' Information Choices and Their Portfolio Returns: The Importance of Investing Experience. American Accounting Association Annual Meeting.
  • Elliott, W. (2004). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. American Accounting Association Accounting, Behavior and Organizations Section Conference.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. Boston College.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. University of Illinois at Urbana-Champaign.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. University of Notre Dame.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. Emory University.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. American Accounting Association Annual Meeting.
  • Elliott, W. (2003). Emphasis and Information Display of Non-GAAP Earnings Measures: Effects on Professional and Non-Professional Investor Judgments and Decisions. University of Utah.
  • Elliott, W., Burgstahler, D., & Hanlon, M. (2002). How Firms Avoid Losses: Evidence of Use of the Net Deferred Tax Asset Account. University of British Columbia, Oregon and Washington (UBCOW) Conference.

Working Paper

  • Hobson, J., Elliott, W., & Grant, S. (2017). Trader Participation in Disclosure: Implications of Direct Interactions with Management.
  • Asay, S., Elliott, W., & Rennekamp, K. (2015). Do Managers Benefit from Obfuscating Poor Performance with Less Readable Disclosures?
  • Brown, N., Elliott, W., Wermers, R., & White, R. (2014). Helpful Tool or Costly Distraction: Does Mobile Internet Technology Improve Market Quality.

Honors and Awards

  • Fred and Virginia Roedgers Fellowship, Department of Accountancy, University of Illinois at Urbana-Champaign, 2008-2017
  • Ken Perry Fellowship in Accountancy, Department of Accountancy, University of Illinois at Urbana-Champaign, 2010-2016
  • List of Teachers Ranked as Excellent by their Students (2013, 2015, and 2016 Ranked as Outstanding), University of Illinois at Urbana-Champaign, 2004,2005,2006,2007,2008,2009,2010,2012,2013,2015,2016

Teaching Interests

Financial reporting and financial statement analysis

Research Interests

The determinants of investors' use of accounting information in their investment-related judgments and decisions. The relation between accounting information/disclosures and investor sentiment. Managers' strategic use of and investor response to non-GAAP (i.e. pro forma) earnings disclosures.

Current Courses

  • Assurance and Attestation (ACCY 405) Conceptual introduction to diverse means by which assurers improve the quality of information used by third parties for contracting purposes, with emphases on the credibility- and relevance-enhancement properties of assurers' services. Topics include the economics of assurance and attestation, and concepts including independence, risk, evidence, and control. Projects facilitate self-discovery of knowledge and development of professional skills and attitudes. 3 undergraduate hours. 3 graduate hours.
  • Auditing Stds and Practice (ACCY 415) Framework for understanding and evaluating the professional auditing standards for assurance services. Model of financial reporting provides an overview of the types of information disseminated by companies to external users, and provides the basis for identifying professional standards areas for future standards' development. 3 undergraduate hours. No graduate credit. Credit is not given for both ACCY 415 and ACCY 515.

Contact

360D Wohlers Hall

1206 S. Sixth

Champaign, IL 61820

217-333-9247

wbe@illinois.edu

Vita