W. Brooke Elliott

Executive Associate Dean of Academic Programs and EY Distinguished Professor in Accounting

Biography

Brooke Elliott is an Associate Dean and EY Professor in the Gies College of Business at the University of Illinois. She most recently served as Head of Accountancy, and prior to that, as the Academic Director of Undergraduate Programs for Gies. Brooke holds a BS in accounting and an MBA with an accounting focus from the Indiana University Kelley School of Business. She earned her PhD in accounting from the University of Washington and joined the University of Illinois at Urbana-Champaign as a faculty member in 2003. Her research program has advanced our understanding of how investors’ use of accounting information affects individual and market-level outcomes. Brooke has developed and taught a number of financial reporting and analysis courses to learners ranging from undergraduates to executives. She currently serves on the board of directors and audit committee for Gordon Food Service.

Contact

183 Wohlers Hall

1206 S Sixth St

Champaign, IL 61820

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

Executive Associate Dean of Academic Programs, University of Illinois at Urbana-Champaign, 2022 to present
Associate Dean of Online Programs, University of Illinois at Urbana-Champaign, 2020-2022
Department Head of Accountancy, Accountancy, University of Illinois at Urbana-Champaign, 2017-2020
EY 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., Rennekamp, K., & White, B. Forthcoming. Negative News and Investor Trust: The Role of $Firm or #CEO Twitter Use. Journal of Financial Reporting.
Elliott, W., Winn, A., & Loftus, S. Forthcoming. To Read or to Listen? Does Disclosure Delivery Mode Impact Investors' Reactions to Managers' Tone Language? Contemporary Accounting Research.
Elliott, W., & Hobson, J. (2022). The Joint Influence of Information Push and Value Relevance on Investor. Journal of Accounting Research, 60 (3), 1049-1083.
Hobson, J., Elliott, W., & Grant, S. (2020). Trader Participation in Disclosure: Implications of Direct Interactions with Management. Contemporary Accounting Research, 37 (1), 68-100.

Other Publications

Articles

Elliott, W., Fanning, K., & Peecher, M. (2020). Do Investors Value Higher Financial-Reporting Quality, and Can Expanded Audit Reports Unlock This Value? The Accounting Review, 95 (2), 141-165.
Elliott, W., Rennekamp, K., & White, B. (2020). Can Concrete Language Help to Mitigate the Home Bias in Equity Investment? An Extension of Elliott, Rennekamp, and White (2015). Journal of Financial Reporting, 5 (1), 51-64.
Brown, N., Elliott, W., & Crowley, R. (2020). What are you saying? Using topic to detect financial misreporting. Journal of Accounting Research, 58 (1), 237-291. link >
Elliott, W., Grant, S., & Hodge, F. (2018). Negative News and Investor Trust: The Role of $Firm or #CEO Twitter Use. Journal of Accounting Research, 56 (5), 1483-1519.
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.
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 Studies

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

Presentations

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? American Accounting Association ABO Section Meeting.
Elliott, W. (2012). Does Highlighting Concrete Language in Disclosures Mitigate Home Bias? University of Massachusetts.
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. Georgia Institute of Technology.
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. (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. American Accounting Association FARS Meeting.
Elliott, W., Brown, N., & Christensen, T. (2007). Strategic Timing of Pro Forma Earnings Announcements. Annual Conference on Financial Economics and Accounting.
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. American Accounting Association Annual Meeting.
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. University of British Columbia, Oregon and Washington (UBCOW) Conference.
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. 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. Boston College.
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. 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. 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 Papers

Asay, S., Elliott, W., & Rennekamp, K. Do Managers Benefit from Obfuscating Poor Performance with Less Readable Disclosures.
Brown, N., Elliott, W., Wermers, R., & White, R. Helpful Tool or Costly Distraction: Does Mobile Internet Technology Improve Market Quality.

Honors and Awards

2021 Educational Diversity Impact Award, The annual Egretha Awards ceremony, 2021

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.