Luzi Hail Faculty Profile

Luzi Hail
Assistant Professor of Accounting

PhD, University of Zurich, Switzerland, 1996; MS, University of Zurich, 1992

Research Areas
International accounting; financial disclosure and capital markets; cost of capital; accounting harmonization; law and finance

Current Projects
Reporting incentives and quality of acounting numbers. Disclosure regulation and firms' cost of capital. Cost of capital effects of U.S. cross-listings. Effects of taxes on asset pricing.

Academic Positions Held
Wharton: 2005-present. Previous appointment: University of Zurich. Visiting appointment: Wharton, 2004

Other Positions
Swiss Bank Corporation, Accounting and Control Group, 1993-96

Career and Recent Professional Awards; Teaching Awards
Geewax, Terker & Company Prize in Investment Research, Honorable Mention, 2004; Best Paper Award, German Association of Business Professors, 2003

Representative Publications
"The Impact of Voluntary Corporate Disclosures on the Ex-ante Cost of Capital for Swiss Firms." European Accounting Review (2002).

(with C. Leuz)
"International Differences in the Cost of Equity Capital: Do Legal Institutions and Securities Regulation Matter?" Journal of Accounting Research (2006).

(with D. Burgstahler and C. Leuz)
"The Importance of Reporting Incentives: Earnings Management in European Private and Public Firms." The Accounting Review (2006).