Kevin C. Smith  

Assistant Professor of Accounting
Stanford Graduate School of Business         

Email: kevinsm [at]
Phone: (410)-430-8450
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Working Papers

Forthcoming/Published Papers


ACCT611: Disclosure and Financial Markets The goal of this course is to provide graduate students with a working knowledge of the analytical literature that studies firms’ disclosure decisions and their impact on capital markets. The course also aims to teach students how to read and follow the basic derivations in this literature. We will focus on a subset of the disclosure literature that analyzes disclosure’s impact on prices and trade, disclosure’s relationship with investor welfare, discretionary disclosure, costly signal manipulation, and the real effects of disclosure. Throughout the course, we will first lay out the mathematical tools and core economic frameworks that appear throughout the models of disclosure. We will then examine how these frameworks can add depth to our understanding of disclosure decisions and their consequences.
Syllabus. Slides available upon request.