Shyam Sunder

James L. Frank Professor of Accounting, Economics and Finance
School of Management, Yale University

Area of Expertise: Economics

Dr. Shyam Sunder is the James L. Frank Professor of Accounting, Economics, and Finance at the Yale School of Management; Professor in the Department of Economics; and Fellow of the Whitney Humanities Center. He is a world-renowned accounting theorist and experimental economist. His research contributions include financial reporting, information in security markets, statistical theory of valuation, and design of electronic markets. He is a pioneer in the fields of experimental finance and experimental macroeconomics. Dr. Sunder has won many awards for his research that includes six books and more than 200 articles in the leading journals of accounting, economics and finance, as well as in popular media. Dr. Sunder’s current research includes the problem of structuring U.S. and international accounting and auditing institutions to obtain a judicious and efficient balance between regulatory oversight and market competition. He is a past president of the American Accounting Association, former director of the Millstein Center for Corporate Governance and Performance at Yale, honorary research director of Great Lakes Institute of Management in Chennai, and distinguished fellow of the Center for Study of Science and Technology Policy in Bengaluru.

Publications / Research:

Sunder, Shyam. “Des regulations comptablesnationales et internationale: monopole ou coexistence concurrentielle.” La Revue Du Financier, no. 168 (November/December 2007): 18-24.

Sunder, Shyam. “What Have We Learned from Experimental Finance?” In Developments on Experimental Economics: New Approaches to Solving Real-world Problems edited by Sobei H. Oda, 91-100. Lecture Notes in Economics and Mathematical Systems 590. Berlin: Springer, 2007.

Hirota, Shinici and Shyam Sunder. “Price Bubbles sans Dividend Anchors: Evidence from Laboratory Stock Markets,” Journal of Economic Dynamics and Control 31, no. 6 (June 2007): 1875-1909.

Sunder, Shyam. “Economizing Principle in Accounting Research.” In Essays in Accounting Theory in Honour of Joel S. Demski edited by Rick Antle, Pierre Jinghong Liang, and FrøysteinGjesdal, 295-310. New York: Springer, 2007.

Sunder, Shyam. “Economic Theory: Structural Abstraction or Behavioral Reduction” in “Agreement on Demand:  Consumer Theory in the Twentieth Century,” eds. Philip Mirowski and D. Wade Hands, annual supplement, History of Political Economy 38:322-342. Durham, NC: Duke University Press, 2006.

Sunder, Shyam. “Determinants of Economic Interaction: Behavior or Structure.” Journal of Economic Interaction and Coordination 1, no. 1 (May 2006): 21-32.

Sunder, Shyam. “Minding Our Manners: Accounting as Social Norms.” The British Accounting Review 37 (December 2005): 367-387.

Sunder, Shyam. “Social Norms versus Standards of Accounting.” In General Accounting Theory: Towards Balanced Development edited by Mieczys?awDobija and Susan Martin, 157-177. Cracow, Poland: Cracow University of Economics, 2005.

Cheema, Amar, Peter T. L. PopkowskiLeszczyc, Rajesh Bagchi, Richard P. Bagozzi, James C. Cox, Utpal M. Dholakia, Eric A. Greenleaf, AmitPazgal, Michael H. Rothkopf, Michael Shen, Shyam Sunder, and Robert Zeithammer. “Economics, Psychology, and Social Dynamics of Consumer Bidding in Auctions.” Marketing Letters 16, no. 3-4 (Fall 2005): 401-413.

Sunder, Shyam. “Changing Expectations as a Source of and Remedy for Corruption.” The Journal of Public Budgeting, Accounting & Financial Management 17, no. 3 (Fall 2005): 420-423.

Kraut, Robert E., Shyam Sunder, Rahul Telang and James Morris. “Pricing Electronic Mail To Solve the Problem of Spam.” Human Computer Interaction 20 (2005): 195-223.

Jamal, Karim, Michael Maier, and Shyam Sunder. “Enforced Standards Versus Evolution by General Acceptance: A Comparative Study of E-Commerce Privacy Disclosure and Practice in The US and UK.” Journal of Accounting Research 43, no. 1 (March 2005), 73-96.

Balakrishnan, R., K. Sivaramakrishnan, and Shyam Sunder. “A Resource Granularity Framework for Estimating Opportunity Costs.” Accounting Horizons 18, no. 3 (September 2004): 197-206.

Gode, Dhananjay K., and Shyam Sunder. “Double Auction Dynamics: Structural Effects of Non-Binding Price Controls.” Journal of Economic Dynamics and Control 28, no. 9 (July 2004): 1707-1731.

Sunder, Shyam. “Interaction of Market Discipline and Public Policy: Discussion.” In Market Discipline Across Countries and Industries edited by Claudio Borio, William C. Hunter, George Kaufman, and Kostas Tsatsaronis, 341-345. Cambridge, MA: MIT Press, 2004.

Sunder, Shyam. “Markets as Artifacts: Aggregate Efficiency from Zero-Intelligence Traders.” In Models of a Man: Essays in Memory of Herbert A. Simon edited by M. E. Augier and J. G. March, 501-520. Cambridge, MA: MIT Press, 2004.

Sunder, Shyam. “Contract Theory and Strategic Management: Balancing Expectations and Actions.” In General Accounting Theory: Towards Balancing the Society edited by

Mieczys?awDobija and Susan Martin, 231-249. Warsaw, Poland: Leon Ko?mi?ski Academy of Entrepreneurship and Management, 2004.

Jamal, Karim, Michael Maier, and Shyam Sunder. “Regulation and the Marketplace. Regulation: The CATO Review of Business and Government 26, no. 4 (Winter 2003-2004): 38-41.

Sunder, Shyam. “Accounting: Labor, Capital and Product Markets.” In General Accounting Theory edited by Mieczys?awDobija, 187-203. Cracow, Poland: Cracow University of Economics, 2003.

Arya, Anil, Jonathan Glover, and Shyam Sunder. “Are Unmanaged Earnings Always Better for Shareholders?” Supplement, Accounting Horizons 17 (2003): 111-116.

Sunder, Shyam. “Rethinking the Structure of Accounting and Auditing.” Indian Accounting Review 7, no. 1 (June 2003): 1-15. An earlier draft was published in Chinese as [Political Economy of the Accounting Collapse in the U.S.] in Accounting Research Monthly no. 204 “Mining Intellectual Capital” (November 2002): 32-42 and in German as “Politish-ökonomischeBetrachtungenzumZusammenbruch der Rechnungslegung in den USA” [Political Economy of the Accounting Collapse in the U.S.]. Die Wirtschaftsprüfung 56, no. 4 (15, February 2003): 141-150.

Jamal, Karim, Michael Maier, and Shyam Sunder, “Privacy in E-Commerce: Development of Reporting Standards, Disclosure and Assurance Services in an Unregulated Market.” Journal of Accounting Research 41, no. 2 (May 2003): 285-309.

Sunder, Shyam. “Knowing What Others Know: Common Knowledge, Accounting, and Capital Markets.” Accounting Horizons 16, no. 4 (December 2002): 305-318.

Duh, Rong-Ruey, Karim Jamal, and S. Sunder. “Control and Assurance In e-Commerce: Privacy, Integrity and Security at eBay.” Taiwan Accounting Review 3, no. 1 (October 2002): 1-27.

Kraut, Robert E., S. Sunder, J. Morris, R. Telang, D. Filer, and M. Cronin. “Markets for attention: Will postage for email help?” Proceedings of the 2002 ACM Conference on Computer Supported Cooperative Work, 206-215. New York: ACM Press, 2002.

Sunder, Shyam. “Regulatory Competition among Accounting Standards within and across International Boundaries.” Journal of Accounting and Public Policy 21, no. 3 (2002): 219-234.

Demski, Joel S., John Fellingham, Jonathan Glover, Yuji Ijiri, Pierre Liang, and Shyam Sunder. “Some Thoughts on the Intellectual Foundations of Accounting.” Accounting Horizons 16, no. 2 (June 2002): 157-168. 

Balakrishnan, Ramji, K. Sivaramakrishnan and Shyam Sunder. “Is the Opportunity Cost of Idle Capacity Zero? Coase (1938) Versus Managerial Accounting Circa 2000.” Indian Accounting Review 6, no. 1 (June 2002): 13-26.

Sunder, Shyam. “Management Control, Expectations, Common Knowledge, and Culture.” Journal of Management Accounting Research 14 (2002): 173-187.

Sunder, Shyam. “Stability of Monetary Unit and Informativeness of Corporate Financial Reporting.” In Monetary Unit Stability in Holistic Approach edited by Mieczys?awDobija, 9-26. Warsaw, Poland: Leon Kozmonski Academy of Entrepreneurship and Management, 2002.

Sunder, Shyam. “Accounting: Continuity and Transition.” In Research in Accounting Regulation 14 edited by Gary J. Previts, 229-243. Oxford: Elsevier Science, 2002.

Dye, Ronald A. and Shyam Sunder. “Why Not Allow the FASB and IASB Standards to Compete in the U.S.?” Accounting Horizons 15, no. 3 (September 2001): 257-71. Reprinted in Developments in International Accounting—International Harmonization of Accounting edited by Christopher W. Nobes. Surrey, UK: Edward Elgar Publishing,

2003.  Reprinted in International Financial Reporting Standards: Critical Perspectives on Business and Management edited by Chris Nobes and David Alexander. London: Routledge, [forthcoming January 2008].

Jamal, Karim, and Shyam Sunder. “Why do Biased Heuristics Approximate Bayes Rule in Double Auctions?” Journal of Economic Behavior and Organization 46, no. 4 (2001): 431-435.

Bosch-Domenech, Antoni and Shyam Sunder. “Tracking the Invisible Hand: Convergence of Double Auctions to Competitive Equilibrium.” Computational Economics 16, no. 3 (December 2000): 257-284.

Lin, Haijin and Shyam Sunder. “Modeling Bargaining Behavior in Ultimatum Games.” In Evolutionary Economics in Tokyo, Papers of the Fourth Annual Conference of the Japan Association for Evolutionary Economics, 88-91. Tokyo: JAFEE, 2000. Reprinted as “Using Experimental Data to Model Bargaining Behavior in Ultimatum Games” in Experimental Business Research edited by Rami Zwick and AmnonRapoport, 373-397. Boston, MA: Kluwer Academic Publishers, 2002.

Sunder, Shyam. “Classical, Stewardship and Market Perspectives on Accounting: A Synthesis.” In The Japanese Style of Business Accounting edited by Shyam Sunder and Hidetoshi Yamaji, 17-31. Westport, CT: Quorum Books, 1999.

Sunder, Shyam. “Design and Implementation of Contracts: A Comparison of Factor Markets Relevant to Financial Reporting in Japan and the U.S.” In The Japanese Style of Business Accounting edited by Shyam Sunder and Hidetoshi Yamaji, 209-220. Westport, CT: Quorum Books, 1999.

Arya, Anil, Jonathan Glover and Shyam Sunder. “Earnings Management and the Revelation Principle.” Review of Accounting Studies 3, nos. 1-2 (1998): 7-34.

Mak, James, Shyam Sunder, Shigeyuki Abe and Kazuhiro Igawa. “The Japanese Economy in U.S. Eyes: From Model to Lesson.” Education About Asia 3, no. 2 (Fall 1998): 22-27.

Mak, James and Shyam Sunder. “Why Are There So Many Small Shops in Japan?” In Japan: Why It Works, Why It Doesn't—Economics in Every Day Life edited by J. Mak, S. Sunder, S. Abe, K. Igawa, 45-50. Honolulu, HI: University of Hawaii Press, 1998.

Abe, Shigeyuki, Shoji Nishijima, Shyam Sunder, and Karen Lupardus. “Why Do Students Take It Easy at Japanese Universities?” In Japan: Why It Works, Why It Doesn't—Economics in Every Day Life edited by J. Mak, S. Sunder, S. Abe, K. Igawa, 73-81. Honolulu, HI: University of Hawaii Press, 1998.

Sunder, Shyam. “Why Do Bank Automatic Teller Machines Shut Down at 7 P.M.?” In Japan: Why It Works, Why It Doesn't—Economics in Every Day Life edited by J. Mak, S. Sunder, S. Abe, K. Igawa, 137-147. Honolulu, HI: University of Hawaii Press, 1998.

Sunder, Shyam. “Accounting and the Firm: A Contract Theory.” Indian Accounting Review 1, no. 1 (June 1997): 1-19. GSIA Reprint No. 1475.Gode, Dhananjay and Shyam Sunder. “What Makes Markets Allocationally Efficient?”Quarterly Journal of Economics 112, no. 2 (May 1997), 603-630. GSIA Reprint No.1473.

Sunder, Shyam. “Security Markets and Accounting Standards: Lessons from Research.”The Chinese Accounting Review 30 (March 1997): 1-31. GSIA Reprint No. 1474.

Day, Richard H. and Shyam Sunder. “Ideas and Work of Richard M. Cyert.” Journal of Economic Behavior and Organization 31, no. 2 (November 1996): 139-148. GSIA Reprint No. 1472.

Jamal, Karim and Shyam Sunder. “Bayesian Equilibrium in Double Auctions Populated by Biased Heuristic Traders.” Journal of Economic Behavior and Organization 31, no. 2 (November 1996): 273-291. GSIA Reprint No. 1471.

Sunder, Shyam and Hidetoshi Yamaji. “KigyouKaikei no KeizaigakutekiBunseki” [Economic Analysis of Business Accounting]. In KigyouKaikei no KeizaigakutekiBunseki [Economic Analysis of Business Accounting] edited by Shyam Sunder and Hidetoshi Yamaji, 1-11. Tokyo: ChyuouKeizaisya, 1996.

Sunder, Shyam. “KeiyakurirontekiKigyoukan to DaitaiteiKaikeikan: Kontenteki, Kantenkara, Jutakusekininjou no Kentenkara, OyobiSijouapurouchikaraKaikeiwoRikaisi, TougousuruShian” [Contract-Based Theory of the Firm and Alternative Forms of Accounting: Classical, Stewardship and Market Perspectives]. In KigyouKaikei no KeizaigakutekaBunseki [Economic Analysis of Business Accounting] edited by Shyam Sunder and Hidetoshi Yamaji, 13-33. Tokyo: ChyuouKeizaisya (1996).

Marimon, Ramon and Shyam Sunder. “Does a Constant Money Growth Rule Help Stabilize Inflation?: Experimental Evidence.” Carnegie-Rochester Conference Series on Public Policy 43 (1995): 111-156. GSIA Reprint No. 1468.

Anderson, Matthew J. and Shyam Sunder. “Professional Traders as Intuitive Bayesians.”Organizational Behavior and Human Decision Processes 64, no. 2 (November 1995): 185-202. GSIA Reprint No. 1465.

Sunder, Shyam. “Experimental Asset Markets: A Survey.” In Handbook of Experimental Economics edited by A. Roth and John Kagel, 445-500. Princeton, NJ: Princeton University Press, 1995.

Jamal, Karim and Shyam Sunder. “Convexity of Valuation Accuracy Function: Empirical Evidence for the Canadian Economy.” Contemporary Accounting Research 11, no. 2 (Spring 1995): 961-972. GSIA Reprint No. 1467.

Lim, Suk S., Edward C. Prescott and Shyam Sunder. “Stationary Solution to the Overlapping Generations Model of Fiat Money: Experimental Evidence.” Empirical Economics 19, no. 2 (1994): 255-277. GSIA Reprint No. 1450.

Gode, Dhananjay and Shyam Sunder. “Human and Artificially Intelligent Traders in a Double Auction Market: Experimental Evidence.” In Computational Organization Theory edited by Kathleen Carley and Michael Prietula, 241-262. Hillsdale, NJ: Lawrence Erlbaum Associates, 1994. GSIA Reprint No. 1453.

Marimon, Ramon and Shyam Sunder. “Expectations and Learning Under Alternative Monetary Regimes: An Experimental Approach.” Economic Theory 4 (1994), 131-162. GSIA Reprint No. 1451.

Marimon, Ramon and Shyam Sunder. “Indeterminacy of Equilibria in a Hyperinflationary World: Experimental Evidence.” Econometrica 61, no. 5 (1993): 1073-1108. GSIA Reprint 1447.

Marimon, Ramon, Stephen E. Spear, and Shyam Sunder. “Expectationally-Driven Market Volatility: An Experimental Study.” Journal of Economic Theory 61, no. 1 (1993): 74-103. GSIA Reprint No. 1446.

Gode, Dhananjay K. and Shyam Sunder. “Allocative Efficiency of Markets with Zero Intelligence Traders: Market as a Partial Substitute for Individual Rationality.” TheJournal of Political Economy 101, no. 1 (February 1993): 119-137. GSIA Reprint No.1439.

Gode, Dhananjay K. and Shyam Sunder. “Lower Bounds for Efficiency of Surplus Extraction in Double Auctions.” In The Double Auction Market: Institutions, Theories and Laboratory Evidence edited by D. Friedman and J. Rust, 199-219. Santa Fe Institute Studies in the Sciences of Complexity 14.  New York: Addison-Wesley, 1993. GSIA Reprint No. 1445.

Duh, Rong-Ruey and Shyam Sunder. “El AgenteEconómico Como un BayesianoIntuitivo: Evidencia Experimental” [Economic Agents as Intuitive Bayesians: Experimental Evidence (in Spanish)]. CuadernosEconomicos de ICE 54 (1993/2): 101-128. GSIA Reprint No. 1452.

Sunder, Shyam. “Market for Information: Experimental Evidence.” Econometrica 60, no.3 (May 1992): 667-695. GSIA Reprint No. 1423.

Sunder, Shyam. “Insider Information and Its Role in Security Markets.” In Business Behavior and Information edited by Yuji Ijiri and Isao Nakano, 51-75. Pittsburgh, PA: Carnegie Mellon University Press, 1992. GSIA Reprint No. 1444. Tokyo: Doobunkan,1992 [in Japanese, pp. 55-78].

Lim, Suk and Shyam Sunder. “Efficiency of Asset Valuation Rules Under Price Movement and Measurement Errors.” The Accounting Review 66, no. 4 (October 1991):669-693. GSIA Reprint No. 1414.

Ijiri, Yuji and Shyam Sunder. “Reals and Ideals of Accounting Education: Building Educational Leverages on Fundamentals.” In Models of Accounting Education edited by Gary L. Sundem and Corine T. Norgaard, 1-13. Accounting Education Change Commission, 1991. 

Jamal, Karim and Shyam Sunder. “Money vs. Gaming: Effects of Salient Monetary Payments in Double Oral Auctions.” Organizational Behavior and Human Decision Processes 49 (June 1991): 151-166. GSIA Reprint No. 1412.

Lim, Suk S. and Shyam Sunder. “Accuracy of Linear Valuation Rules in Industry- Segmented Environments.” Journal of Accounting and Economics 13 (1990): 167-188. 

Donegan, Jim and Shyam Sunder. “Contract Theoretic Analysis of Off-Balance Sheet Financing.” Journal of Accounting, Auditing and Finance 4, no. 2 (1989): 203-216. Reprinted in Off-Balance Sheet Activities edited by Joshua Ronen, Anthony Saunders, and Ashwinpaul C. Sondhi, 103-116. Westport, CT: Quorum Books, 1990.

Sunder, Shyam. “Proof That in an Efficient Market, Event Studies Can Provide No Systematic Guidance to Making of Accounting Standards and Disclosure Policy.” Contemporary Accounting Research 5, no. 2 (1989): 452-460.

Dhaliwal, Dan and Shyam Sunder. “Mergers, Acquisitions, and Takeovers: Wealth Effects on Various Economic Agents.” In Advances in the Study of Entrepreneurship, Innovation, and Economic Growth: Corporate Reorganizations Through Mergers, Acquisitions, and Leveraged Buyouts edited by Gary Libecap, 169-190 (Supplement 1). Greenwich, CT: JAI Press, 1988.

Sunder, Shyam. “Political Economy of Accounting Standards.” Journal of Accounting Literature 7 (1988): 31-41. Reprinted in Master of Business Administration 60, no. 1 (Jan-Feb 2003): 30-35. ISSN: 1231-0328

Plott, Charles R. and Shyam Sunder. “Rational Expectations and the Aggregation of Diverse Information in Laboratory Security Markets.” Econometrica 56, no. 5 (September 1988): 1085-1118.  Reprinted in The Legacy of Robert Lucas, Jr. edited by Kevin D. Hoover. London: Edward Elger Publishing, 1999.

Amershi, Amin H. and Shyam Sunder. “Failure of Stock Prices to Discipline Managers in a Rational Expectations Economy.” Journal of Accounting Research 25, no. 2 (Autumn 1987): 177-195.

Shih, Michael S. H. and Shyam Sunder. “Design and Tests of an Efficient Search Algorithm for Accurate Linear Valuation Systems.” Contemporary Accounting Research 4, no. 1 (Fall 1987): 16-31.

Duh, Rong-Ruey and Shyam Sunder: “Incentives, Learning, and Processing of Information in a Market Environment: An Examination of the Base-Rate Fallacy.” In Laboratory Market Research edited by Shane Moriarty, 50-79. University of Oklahoma,1986.

Sunder, Shyam and Gregory Waymire. “Accuracy of Exchange Valuation Rules: Additivity and Unbiased Estimation.” Journal of Accounting Research 22, no. 1 (Spring 1984): 396-405.

Sunder, Shyam. “Limits to Information.” In 1983 Accounting Research Convocation; Proceedings edited by Kathleen Bindon, 101-110. School of Accountancy, University of Alabama, 1984.

Sunder, Shyam and ShaileshHaribhakti. “Economic Interest and Accounting Standards.” In Modern Accounting Theory: History, Survey and Guide edited by Richard V. Mattessich, 165-171. Vancouver, Canada: CCGA Research Foundation, 1984.

Sunder, Shyam and Gregory Waymire. “Marginal Gains in Accuracy of Valuation from Increasingly Specific Price Indexes: Empirical Evidence for the U.S. Economy.” Journal of Accounting Research 21, no. 2 (Autumn 1983): 565-580.

Sunder, Shyam. “Simpson’s Reversal Paradox and Cost Allocation.” Journal of Accounting Research 22, no. 1 (Spring 1983): 222-233.

Joyce, Edward J., Robert Libby, and Shyam Sunder. “FASB’s Qualitative Characteristics of Accounting Information: A Study of Definitions and Validity.” Journal of Accounting Research 20, no. 2, pt. II (Autumn 1982): 654-675.

Sunder, Shyam. “Research on Accounting and Reporting Policy.” In Accounting Dissertations: Research Design and Implementation, Proceedings of the Big Ten Doctoral Consortium edited by Daniel Jensen, 21-30. Columbus, OH: Ohio State University, 1982.

Plott, Charles R. and Shyam Sunder. “Efficiency of Experimental Security Markets with Insider Information: An Application of Rational-Expectation Models.” Journal of Political Economy 90, no. 4 (August 1982): 663-698.

Plott, Charles R. and Shyam Sunder. “A Synthesis,” in “Studies on Standardization of Accounting Practices: An Assessment of Alternative Institutional Arrangements,” supplement, Journal of Accounting Research 19 (1981): 227-239.

Sunder, Shyam. “Stationarity of Market Risk: Random Coefficient Tests for Individual Stocks.” Journal of Finance 35, no. 4 (September 1980): 883-896.

Sunder, Shyam. “Corporate Capital Investment, Accounting Methods and Earnings: A Test of the Control Hypothesis.” Journal of Finance 35, no. 2 (May 1980): 553-565.

Dopuch, N. and Shyam Sunder. “FASB’s Statement on Objectives and Elements of Financial Reporting: A Review.” The Accounting Review 55, no. 1 (January 1980): 1-22. Reprinted in Financial Accounting Theory: Issues and Controversies edited by T. Keller and S. Zeff. 3rd ed. New York: McGraw-Hill, 1985. Reprinted in Accounting Theory and Policy: A Reader edited by R. Bloom and Pieter T. Elgers, 66-88. 2nd ed. New York: Harcourt, 1986.

Lev, Baruch and Shyam Sunder. “Methodological Issues in the Use of Financial Ratios.”Journal of Accounting and Economics 1, no. 3 (December 1979): 187-210.

Prakash, P. and Shyam Sunder. “A Case Against Separation of Current Operating Profit and Holding Gains.” The Accounting Review 54, no. 1 (January 1979): 1-22.

Sunder, Shyam. “Accuracy of Exchange Valuation Rules.” Journal of Accounting Research 16, no. 2 (Autumn 1978): 341-367.

Sunder, Shyam. “Optimal Choice Between FIFO and LIFO.” Journal of Accounting Research 14, no. 2 (Autumn 1976): 277-300.

Sunder, Shyam. “A Multiperiod Integer Programming Approach to the Product Mix Problems.” In Marketing, 1776-1976 and Beyond: 1976 Educator Proceedings edited by Kenneth L. Benhardt, 493-497. Chicago: American Marketing Association, 1976.

Sunder, Shyam. “A Note on Estimating the Economic Impact of the LIFO Method of Inventory Valuation.” The Accounting Review 51, no. 2 (April 1976): 287-291.

Sunder, Shyam. “Properties of Accounting Numbers Under Full Costing and Successful Efforts Costing in the Petroleum Industry.” The Accounting Review 51, no. 1 (January 1976): 1-18.

Shyam, Manjula and Shyam Sunder. “International Seabed Regime: India’s Interests and Policy Options.” The Indian Political Science Review 10, no. 1 (January 1976): 1-18.

Sunder, Shyam. “Comparability of Divergent Financial Statements in the Petroleum Exploration Industry.” In Proceedings of the Conference on Topical Research in Accounting edited by Michael Schiff and George Sorter, 251-265. New York: Ross Institute of Accounting Research (New York University), 1976.

Sunder, Shyam. “Stock Price and Risk Related to Accounting Changes in Inventory Evaluation.” The Accounting Review 50, no. 2 (April 1975): 305-315.  Abstracted in The C.F.A. Digest 5, no. 3 (Summer 1975).

Sunder, Shyam. “Properties of Accounting Numbers Under Various Definitions of Cost Centers in the Petroleum Exploration Industry.” In Proceedings of the Southwest Regional Meeting of the American Accounting Association edited by Kenneth S. Most, 259-274. College Station, TX: Texas A&M University, 1975.

Sunder, Shyam. “Relationship Between Accounting Changes and Stock Prices: Problems of Measurement and Some Empirical Evidence” in “Empirical Studies in Accounting: Selected Studies,” ed. Nicholas Dopuch, supplement, Journal of Accounting Research (1973): 1-45.

Awards & Recognitions:

  1. 2007 Honorary Research Professor, Southwest Jiaotong University, Chengdu, China
  2. 2005 Elected, President, American Accounting Association, 2006-2007
  3. 2005 Honorary Research Director, Great Lakes Institute of Management, Chennai, India
  4. 2004 Honorary Guest Professor, Nankai University, Tianjin, China
  5. 2000 American Accounting Association’s Distinguished International Visiting Lecturer in Accounting
  6. 1999 Inaugural Presidential Research Lecture, American Accounting Association
  7. 1998 Notable Contributions to Accounting Literature Award, American Institute of CPAs and American Accounting Association
  8. 1989 Elected Fellow of the Accounting Researchers International Association (ARIA)
  9. 1983 Alpha Kappa Psi Foundation National Accounting Award for year 1982
  10. 1982 Notable Contributions to Accounting Literature Award, American Institute of CPAs and American Accounting Association
  11. 1975 Manuscript Award, American Accounting Association
  12. 1972-73 Ernst & Ernst Doctoral Dissertation Fellowship
  13. 1971-72 William Larimar Mellon Fellowship, Carnegie Mellon University
  14. 1966 Roll of Honor for first rank in the undergraduate class
  15. 1965 Honorable Mention, Institution of Mechanical Engineers, London
  16. 1962 National Merit Scholarship, Government of India


  • Cornell University
  • Chicago Booth
  • Skema Business School
  • Universite Bordeaux
  • Frankfurt School of Finance and Management
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