Darren Roulstone

Professor Roulstone conducts research on the role of information intermediaries in capital markets.  He currently serves as an Associate Editor at Management Science and on the editorial boards of the Accounting Review and Contemporary Accounting Research. He previously served on the editorial boards of the Journal of Accounting Research (2004-2021) and the Review of Accounting Studies (2017-2025). During 2013-2016, he served as President-Elect, President, and Immediate Past-President of the Financial Accounting and Reporting Section of the American Accounting Association.  From 2008 to 2019, he served as director of the AMIS PhD program; from 2019 until 2022 he served as AMIS Department Chair.

Professor Roulstone teaches the core financial reporting class in the MAcc program, a MAcc elective on financial statement analysis, and a doctoral seminar on accounting research. He previously taught intermediate accounting in the undergraduate program and the core financial accounting course and a financial statement analysis elective in the MBA program. Prior to joining Fisher, he spent eight years as an assistant and associate professor of accounting at the University of Chicago's Booth School of Business where he taught financial accounting and financial statement analysis in the full-time, evening, and weekend MBA programs. He is a co-author of Intermediate Accounting (4th edition) from Cambridge Business Publishers. Professor Roulstone grew up on Vancouver Island in British Columbia, Canada. He received undergraduate and master's degrees in accounting from Brigham Young University's Marriott School of Management before receiving a PhD in Business Administration from the University of Michigan.

Awards

• MAcc Outstanding Professor 2024
• Distinguished Service Award from Management Science 2019
• FARS Best Paper Award 2019
• Outstanding Discussant Award FARS Mid-Year Meeting 2018
• Fisher College of Business Distinguished Professor, 2016
• Fisher Research Fellow, 2013, 2014
• Third prize, Chicago Quantitative Alliance Annual Academic Competition, 2012
• Centel Foundation/Robert P. Reuss Scholar—Booth, 2004-2005
• Ernest R. Wish Accounting Research Award—Booth, 2002

• PhD, University of Michigan
• MAcc, Brigham Young University
• BS, Brigham Young University

• Roulstone, Darren T., Zahn Bozanic, Terrence Blackburne, and Bret Johnson. "The Regulatory Observer Effect: Evidence from SEC Investigations." Review of Accounting Studies.
• Roulstone, Darren, Gary Chen and Jie Zhou. "Life in the Fast Lane: Sophistication among Individual Investors." forthcoming, Journal of Accounting Literature.
• Roulstone, Darren, Travis Dyer, and Andrew Van Buskirk. "Disclosure Similarity and Future Stock Return Comovement." Management Science.
• Roulstone, Darren, Itzhak Ben-David, Hala Moussawi, and Byung Wook Kim. "Corporate Transactions in Hard-to-Value Stocks." Review of Corporate Finance Studies.
• Roulstone, Darren, Lin Cheng, and Andrew Van Buskirk. "Are Investors Influenced by the Order of Information in Earnings Press Releases?" The Accounting Review.
• Roulstone, Darren, Michael Drake, Bret Johnson, and Jake Thornock. "Is There Information Content in Information Acquisition?" The Accounting Review.
• Roulstone, Darren, Zahn Bozanic, and Andrew Van Buskirk. "Management Earnings Forecasts and Other Forward-Looking Statements." Journal of Accounting and Economics.
• Roulstone, Darren, Michael Drake, Jared Jennings, and Jake Thornock. "The Comovement of Investor Attention." Management Science.
• Roulstone, Darren, Michael Drake, and Jake Thornock. "The Usefulness of Historical Accounting Reports." Journal of Accounting and Economics. 61.2-3 (2016): 448-464.
• Roulstone, Darren, I. Ben-David, and M. Drake. "Acquirer Valuation and Acquisition Decisions: Identifying Mispricing using Short Interest." Journal of Financial and Quantitative Analysis. 50.1-2 (2015): 1-32.
• Roulstone, Darren, Michael Drake, and Jake Thornock. "The Determinants and Consquences of Information Acquisition via EDGAR." Contemporary Accounting Research. 32.3 (2015): 1,128-1,161.
• Roulstone, Darren. “Discussion of ‘Large-Sample Evidence of Firms’ Year-over-year MD&A Modifications'.” Journal of Accounting Research. 49.2 (2011): 347-357.
• Roulstone, Darren. "Discussion of 'Intangible Investment and the Importance of Firm-Specific Factors in the Determination of Earnings'." Review of Accounting Studies. 61.3 (2011): 574-586.
• Roulstone, Darren, Steve Crawford, and Eric So. “Analyst Initiations of Coverage and Stock-Return Synchronicity.” The Accounting Review. 87.5 (2012): 1,527-1,553.
• Roulstone, Darren, Michael Drake, and Jake Thornock. "Investor Information Demand: Evidence from Google Search around Earnings Announcements.” Journal of Accounting Research. 50.4 (2012): 1,001-1,040.
• Roulstone, Darren T. and Joseph Piotroski. "Do Insider Trades Reflect both Contrarian Beliefs and Superior Knowledge of Future Cash Flow Realizations?" Journal of Accounting and Economics.
• Roulstone, Darren T. and Joseph Piotroski. "The Influence of Analysts, Institutional Investors, and Insiders on the Incorporation of Market, Industry, and Firm-Specific Information into Stock Prices." The Accounting Review.
• Roulstone, Darren T. "Analyst Following and Market Liquidity." Contemporary Accounting Research.
• Roulstone, Darren T. "The Relation between Insider-Trading Restrictions and Executive Compensation." Journal of Accounting Research.
• Roulstone, Darren T. "Effect of SEC Financial Reporting Release No. 48 on Derivative and Market Risk Disclosures." Accounting Horizons.

• Roulstone, Darren T. and Oliver Binz. "Regulatory Actions and Accounting Comparability: Evidence from the 1934 Securities Exchange Act."
• Roulstone, Darren T. Steven Crawford, Karson Fronk, and Joshua Lee. "Unique Firms and Investors."  
• Roulstone, Darren T., Andrew Van Buskirk, and Travis Dyer. "Understanding the Relation between Financial Reporting Similarity and Future Return Comovement."