Dan Givoly

Ernst & Young Professor of Accounting
Department: Accounting
Office: 305 Business Building
Phone: 814-865-0587
Fax: 814-863-8393
E-mail: dgivoly@psu.edu
Member of Faculty Since: 2002


Professor Givoly is the Ernst & Young Professor of Accounting in Smeal College of Business and has served until recently (2002-2008) as the Chair of the Department. Prior to joining Penn State, Professor Givoly taught at the Graduate School of Management at the University of California at Irvine. Professor Givoly's previous academic positions include Columbia University, Northwestern University, and Tel-Aviv University, where he served as the Chairman of the accounting department. He  served as the Chairman of the Financial Standards Accounting Board in Israel (1996-1999), the accounting standard-setting body of that country. Professor Givoly's research areas include the effects of financial disclosure on stock prices and the quality and information content of accounting numbers. His research has appeared in leading academic and professional journals. Professor Givoly is a Certified Public Accountant (Israel) and has been a consultant to corporations on issues of accounting standards, financial reporting and economic valuation.

Professor Givoly is a member of the American Accounting Association, American Finance Association, and the Institute of Public Accounting - Israel. He serves on the Editorial Boards of the  International Journal of Accounting and Abacus and as a reviewer for accounting and finance journals such as The Accounting Review, Journal of Accounting and Economics, Journal of Accounting Research, and Contemporary Accounting Journal. He served two terms on the Editorial Board  of The Accounting Review. He served on the CPA Accreditation Board (Israel),1996-2001.

Current Research

Professor Givoly is currently conducting research projects relating to earnings management, executive compensation, quality of earnings and analysts' forecasts of earnings and cash flows. 


Financial Reporting and Disclosures
Effects of Financial Information on Capital Markets
Analysts Forecasts of Earnings
Firm Valuation

Publication List

D. Givoly, Carla Hayn, and R. Lehavy, "The Quality of Analysts' Forecasts of Cash Flows", The Accounting Review, Forthcoming,

D. Givoly and C. Shi, "Accounting Choice for Software Development Costs and the Cost of Capital: Evidence from Underpricing of Initial Public Offerings in the Software Industry", Journal of Accounting, Auditing and Finance, 2008, 23 No. 2,

D. Givoly, C. Hayn and A. Natarajan, "Measuring Reporting Conservatism", The Accounting Review, 2007, 82, 65-106.

E. Bartov, D. Givoly, and C. Hayn, "The Rewards to Meeting or Beating Analysts' Earnings Forecasts", Journal of Accounting and Economics, 2002, 33-2, 173-204.

D. Givoly and C. Hayn, "The Changing Time Series Properties of Earnings, Cash Flows, and Accruals: Has Financial Reporting Become More Conservative?", Journal of Accounting and Economics, 2000, 29, 287-320.


B.A., The Hebrew University, Jerusalem,

M.B.A., Tel-Aviv University,

Ph.D., New York University,

CPA, Israel,


ACCTG 471, Intermediate Accounting I;

B A 511, Introduction to Financial Accounting