Prof. Dr. Nan Zhou

Department of Accounting, Carl H. Lindner College of Business, University of Cincinnati, 2906 Woodside Drive, Cincinnati, OH 45221, USA

Prof. Dr. Nan Zhou

Department of Accounting, Carl H. Lindner College of Business, University of Cincinnati, 2906 Woodside Drive, Cincinnati, OH 45221, USA

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Academic Career Length

25Years (2002-Present)

(Calculated once Scilit publication data is synced: current year − year of first publication + 1)

Representative Publications

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1 May 2007 in Journal of Accounting and Public Policy

Journal Article

Audit committee quality, auditor independence, and internal control weaknesses

Yan Zhang

Jian Zhou

Nan Zhou

15 April 2004 in Journal of Accounting Research

Journal Article

Competitive Costs of Disclosure by Biotech IPOs

Re‐Jin Guo

Baruch Lev

Nan Zhou

1 September 2015 in The Accounting Review

Journal Article

The Effect of Employee Treatment Policies on Internal Control Weaknesses and Financial Restatements

Jun Guo

Pinghsun Huang

Yan Zhang

Nan Zhou

This study investigates the role of employment policies in reducing internal control ineffectiveness and financial restatements. We provide new evidence that employee treatment policies are an important predictor of ineffective internal control. We also find that employee-friendly policies significantly reduce the propensity for employee-related material weaknesses. These results suggest that greater employee benefits facilitate the acquisition, development, and motivation of the workforce and ameliorate the loss of valuable human capital, thereby mitigating employee failures to implement internal control tasks properly. Moreover, we document novel results that financial restatements, especially those caused by unintentional errors, are less likely to arise in firms that invest more in employee benefits. Collectively, our emphasis on the effect of employee treatment policies on the integrity of internal control and financial reporting distinguishes our paper from previous studies that focus on the role of top executives in accounting practices.Data Availability: Data are available from public sources indicated in the text.

1 June 2006 in Contemporary Accounting Research

Journal Article

Auditor Reputation, Auditor Independence, and the Stock‐Market Impact of Andersen's Indictment on Its Client Firms*

Srinivasan Krishnamurthy

Jian Zhou

Nan Zhou

1 September 2015 in Journal of International Accounting Research

Journal Article

Foreign Ownership and Real Earnings Management: Evidence from Japan

Jun Guo

Pinghsun Huang

Yan Zhang

Nan Zhou

Studying a sample of Japanese firms, we examine whether foreign investors exert a significant influence on earnings management through manipulation of real activities. We find that foreign investors play an independent role in restraining real earnings management, as captured by abnormal cash flow from operations, abnormal discretionary expenses, abnormal production costs, or a composite of the aforementioned three measures. These results are robust to a variety of controls, including economic fundamentals, domestic blockholdings, governance mechanisms, and endogeneity of foreign ownership. Our findings indicate that sophisticated foreign investors, with relatively few business ties to local management, improve the accounting oversight of local firms by curbing earnings manipulation via operating activities. Collectively, our evidence suggests that one potential benefit of capital market globalization is less real earnings management in particular and higher earnings quality in general. JEL Classifications: M41; F23; G32.

1 October 2005 in Journal of Accounting, Auditing & Finance

Journal Article

The Valuation of Biotech IPOs

Re-Jin Guo

Baruch Lev

Nan Zhou

The valuation of initial public offerings (IPOs) is of considerable interest, given the important role these enterprises play in economic growth and investors' decisions. IPO valuation is particularly challenging due to the meager information available about new enterprises at offering dates. We extend the research on IPO valuation in various directions. First, we penetrate deep beyond the traditional proxies for value drivers, such as R&D expenditures and cash flows, by defining and testing a host of specific product-related and competitive environment value drivers; second, we examine IPO valuations at three distinct phases of the going-public process; third, we employ both the direct valuation and relative valuation approaches; and fourth, we round up the analysis by examining the long-term performance of IPOs. Based on a sample of biotech IPOs from the 1990s, we document the overwhelming importance of product-related and intellectual property fundamentals, as well as the irrelevance of several key signals, such as venture capital backing and the quality of underwriters, which played prominent roles in previous research.

About Me

Nan Zhou is a professor and head of the Accounting Department at the University of Cincinnati. He holds the Norwood and Marjorie Geis Chair of Accounting. Professor Zhou helped relaunch the Accounting Ph.D. Program in 2019. His research on auditing, financial reporting, and corporate governance has been published in leading accounting journals, including The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, and Review of Accounting Studies. He led the University of Cincinnati Accounting Department to successfully organize and host the Journal of Accounting, Auditing, and Finance ESG Symposium in October 2024. He currently serves as a co-editor of Asian Review of Accounting, an editor of China Accounting and Finance Review, and an associate editor of Journal of International Accounting, Auditing, and Taxation. Professor Zhou obtained his bachelor's degree from Tsinghua University, MBA from Southern Illinois University Carbondale, and PhD in accounting from the University of Minnesota. He received the Lindner Research Excellence Award from the Lindner College of Business at the University of Cincinnati and the Corning Award for Excellence in Research from the School of Management at the State University of New York (SUNY) Binghamton University.

Prof. Dr. Nan Zhou

Prof. Dr. Nan Zhou

Research Focus & Metrics

Academic Career Length

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Representative Publications

About Me