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Monday, 5 July 2010

UWA Business School
Two distinguished University of Western Australia alumni will be among the guest speakers at the upcoming Accounting and Finance Forum.

Patricia Dechow and Richard Sloan, both now professors at the University of California Berkeley, will return to UWA for the forum, due to be held from 11 July to 13 July.

The theme of the forum will be ‘Re-thinking Market Efficiency in Accounting and Finance.' Professor Ray da Silva Rosa, from the UWA Business School, says that the aim of the forum is to provide an opportunity for academics to debate and clarify what is meant by the notion of an efficient market.

‘The concept of market efficiency has been very useful in structuring research questions for the last three decades, but it's clear that there is still considerable divergence in what exactly is implied by the notion,' he says.

‘For instance, the recent financial crisis is regarded by many, including 2009 Nobel Laureate in Economics Paul Krugman, as convincingly repudiating the notion of market efficiency. Yet other equally prominent economists are adamant that the concept remains as valid as ever.

‘It's unlikely that any consensus will be reached during the forum - where would the fun be in that? However, we may get a better appreciation of both the opposing views.'

The papers being presented at the forum will range from an international study of the bias in analysts' earnings forecasts to the impact of Michelle Obama's fashion choices on the stock prices of apparel companies.

Also speaking at the forum will be Professor Tom Smith from the Australian National University (ANU), Associate Professor Garry Twite, also from ANU, and Professor David Yermack, from New York University.

The forum has been co-convened by Winthrop Professor Ray da Silva Rosa, Winthrop Professor Julianna Ng, Associate Professor Millicent Chang, and Assistant Professor Marvin Wee, all from the UWA Business School.

The Forum is being sponsored by the UWA Business School, Akamai Management Group, CPA Australia, and Resource Capital Funds.


Media Reference

Heather Merritt
Director, External Relations
UWA Business School
T: +618 6488 8171
E: [email protected]

Verity Chia
Communications Officer
UWA Business School
E: [email protected]

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