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Alon Kalay

Associate Professor
Department: Accounting and Information Systems
North Business Building
632 Bogue St Rm N228
East Lansing, MI 48824
Phone: (517) 432-2912
Areas of Expertise
  • Biography
    Alon Kalay joined the accounting faculty in the Eli Broad College of Business after spending several years in the accounting department at Columbia Business School, where he taught financial accounting in the MBA program. Alon earned his PhD from the University of Chicago in 2011. Prior to his academic career, he earned his B.A. in economics and management from Tel Aviv University, and MBA from the Wharton School of Business. Upon completion of his MBA, Alon spent two years in the corporate finance practice at McKinsey & Company.

    Alon's research explores the role of information processing costs, corporate disclosure, and earnings information in capital markets. His papers and discussions have been published in leading journals including, The Accounting Review, Review of Accounting Studies, Management Science, and Journal of Accounting Research. Alon is looking forward to sharing his experiences in the classroom; he will teach Analyzing Financial Reporting Decisions in the M.S. in Accounting program.

  • Publications
    Investor Sophistication and Disclosure Clienteles. 2015. Review of Accounting Studies 20(2), 976­-1011. Solo Authored
    Earnings News, Expected Earnings, and Aggregate Stock Returns. 2016. Journal of Financial Markets 29, 110-143. With Jung Ho Choi and Gil Sadka
    Industry Characteristics, Risk Premiums, and Debt Pricing. 2017. The Accounting Review 92 (1), 1-27. With Dan Amiram and Gil Sadka
    Uncertainty and Sectoral Shifts: The Interaction between Firm-Level and Aggregate-Level Shocks and Macroeconomic Activity. 2018. Management Science 64(1), 98-214. With Suresh Nallareddy and Gil Sadka
    Information Asymmetry and the Bond Coupon Choice. 2018. The Accounting Review 93(2), 37-59. With Dan Amiram, Avner Kalay, and N. Bugra Ozel
    Complementarity between Audited Financial Reporting and Voluntary Disclosure: The Case of Former Andersen Clients. 2021. The Accounting Review 96 (6), 215–238. With Richard Frankel, Gil Sadka, and Yuan Zou
    International Payout Policy, Information Asymmetry and Agency Costs (Conference Discussion). 2014. Journal of Accounting Research 52(2), 457-472
  • Awards
    • Columbia Business School Dean’s Award for Teaching Excellence in the Core (2016)
      Awarded for excellence in teaching in the MBA core curriculum
    • Review of Accounting Studies Reviewer Award (2018)
       Recognition of reviewers based on number of reviews completed and timeliness of reviews
    • Financial Accounting and Reporting Section (FARS) Excellence in Reviewing Award (2020)
      Award recognizes reviewers that demonstrate excellence in reviewing papers as part of the paper selection process for the FARS Midyear Meeting and AAA Annual Meeting. 

  • Media Mentions

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