University of Calgary

Anup Srivastava

  • Associate Professor
  • Canada Research Chair in Accounting - Decision-Making and Capital Markets


Anup Srivastava joined the Haskayne School of Business in July 2018. Previously, he worked at as an assistant professor at Kellogg School of Management (Northwestern University) and Tuck School of Business (Dartmouth College) which he left as an associate professor.

In October 2018, Anup became Haskayne's first Canada Research Chair awarded by the Government of Canada.

Anup holds a BTech in Mechanical Engineering from the Indian Institute of Technology Delhi (1984-88), MBA in Finance from the University of Delhi (1988-90), and PhD in Accounting from Texas A&M University (2003-2008).

Anup brings vast corporate experience of almost fourteen years. He has worked as a banker, consultant, and corporate executive in the East and West Coast cities of the United States and India. He has worked at billion-dollar conglomerates as well as cash-strapped startups.

Anup is one of the foremost researchers on the changing economics of listed companies. He examines how knowledge-based companies, such as Facebook, Alphabet, and Microsoft, supplant asset- and infrastructure-intensive companies, such as Walmart, General Motors, and Exxon-Mobil, in capital creation and employment generation.

His research highlights key elements disrupted by this progression: accelerating corporate demise and emerging hyper-competition; changing role of the board of directors; shifts in executive incentive plans; new auditing and financial reporting requirements; and a growing need for highly skilled human capital.

Anup has published numerous articles in journals classified in Financial Times (FT-50). Anup has not only published in elite scholarly journals, such as Management Science, Accounting Review, Journal of Accounting and Economics, Journal of Financial Economics, and Review of Accounting Studies but also in the practitioner-oriented Harvard Business Review, widely read by senior executives and managers. Two of his papers are typically included in the curricula of top PhD programs in accounting. One of them is listed in the Hall of Fame of the Journal of Financial Economics, and is one of the most cited papers in the field of accounting and finance.  

Anup has published a unique series of articles in Harvard Business Review, on the underlying economics, valuation, and financial reporting issues of digital companies.  

Anup has been interviewed or quoted by leading media outlets, such as BloombergFinancial TimesNew York Times, Wall Street Journal, Economist Intelligence Unit, National Public Radio, Forbes, Chicago Tribune, Barrons, and Reuters.

Anup has presented his work in seminar format at 45 of the world’s top universities, in 10 different countries.

Anup is deputy editor-in-chief for Management and Business Review and an Editorial board member for Contemporary Accounting Research.


Top-tier Journals

1. Hong, H., J. W. Ryou, and A. Srivastava. 2020. Lender Monitoring and the Efficacy of Managerial Risk-Taking Incentives. Forthcoming, Accounting Review

2. Srivastava, A. 2019. Improving the measures of real earnings management. Review of Accounting Studies24 (4): 1277–1316.

3. Enache, L. and A. Srivastava. 2018. Should intangible investments be reported separately or commingled with operating expenses? New evidence. Management Science 64(7): 3446–3468.

4.   Aobdia, D., A. Srivastava, and E. Wang. 2018. Are immigrants complements or substitutes? Evidence from the audit industry. Management Science 64(5): 1997–2012.

5.   Srivastava, A. 2014. Why have measures of earnings quality changed over time? Journal of Accounting and Economics. 57:196–217.

6.   Srivastava, A. 2014. Selling-price estimates in revenue recognition and earnings informativeness. Review of Accounting Studies. 19:661–697.

7.   McAnally, M. L., A. Srivastava, and C. Weaver. 2008. Executive stock options, missed earnings targets and earnings management. The Accounting Review. 83(1): 185–216.

8.   Efendi, J, A. Srivastava, and E. P. Swanson. 2007. Why do corporate managers misstate financial statements? The role of in-the-money options and other incentives. Journal of Financial Economics. 85(3): 667–708.

Top-Tier Practitioner Journals (Financial Times 50) 

  • Resist Old Routines When Returning to the Office. Harvard Business Review (May, 2021) With V. Govindarajan, T. Grisold, and A. Klammer

  • Mind the GAAP? Harvard Business Review (May, 2021). With V. Govindarajan and R. Zhao.

  • Should Midsize Companies Play Offense or Defense in a Downturn? Harvard Business Review (March, 2021). With V. Govindarajan and A. Iqbal.

  • The U.S. Economy Is Leaving Midsize Companies Behind. Harvard Business Review (February, 2021). With V. Govindarajan and L. Enache.

  • The Uncertainty of Middle Management Jobs - And How to Stay Relevant? California Management Review (January, 2021) With V. Govindarajan and N. Sikka.

  • U.S. Financial Reporting Is Stuck in the 20th Century. Harvard Business Review (December, 2020). With V. Govindarajan, S. Rajgopal, and L. Enache.

  • Do Digital Technology Firms Earn Excess Profits? California Management Review (November 2020) With S. Rajgopal and R. Zhao.

  • COVID-Imposed Opportunity to Selectively Unlearn Past Practices. California Management Review (October 2020) With V. Govindarajan, T. Grisold, and A. Klammer.

  • Harvest now or invest further—the dilemma reexamined. With V. Govindarajan, V., Sood, L. Enache, and B. K. Mishra. Forthcoming, Management and Business Review.

  • Tech Giants, Taxes, and a Looming Global Trade War. Harvard Business Review (August, 2020). With V. Govindarajan, H. Warsame, and L. Enache.

  • Private Sector. Don’t Just Stand There, Do Something BIG! California Management Review (August 2020) With P. Danos and V. Govindarajan.

  • Post-Pandemic Strategy for U.S. Higher Ed. Harvard Business Review (March, 2020).  With V. Govindarajan.  

  • Doubling Down on Double Sandwich Tax Schemes. California Management Review (March, 2020).  With H. Warsame, and L. Enache.

  • What the Shift to Virtual Learning Could Mean for the Future of Higher Ed. Harvard Business Review (March, 2020).  With V. Govindarajan.

  • Is Technology Subsuming Marketing? Harvard Business Review (February, 2020). With S. Rajgopal.

  • We Are Nowhere Near Stakeholder Capitalism. Harvard Business Review (January, 2020).  With V. Govindarajan.

  • Understanding India’s Chilly Reception of Jeff Bezos. Harvard Business Review (January, 2020).  With V. Govindarajan, and L. Enache.

  • How India Plans to Protect Consumer Data. Harvard Business Review (December, 2019).  With V. Govindarajan, and L. Enache.

  • Midsize Companies Are Growing, But Struggling to Earn Profits. Harvard Business Review (August, 2019). With V. Govindarajan and L. Enache.

  • No, WeWork Isn’t a Tech Company. Here’s Why That Matters. Harvard Business Review (August, 2019). With V. Govindarajan.

  • The Gap Between Large and Small Companies Is Growing. Why? Harvard Business Review (August, 2019). With V. Govindarajan, B. Lev, and L. Enache.

  • The problem with France’s plan to tax digital companies. Harvard Business Review (July, 2019). With V. Govindarajan, H. Warsame, and L. Enache.

  • R&D spending has dramatically surpassed advertising spending. Harvard Business Review (May, 2019). With V. Govindarajan, S. Rajgopal, and Y. Wang.

  • It’s time to stop treating R&D as a discretionary expenditure. Harvard Business Review (January, 2019). With V. Govindarajan, S. Rajgopal, and L. Enache.

  • Should dual-class shares be banned? Harvard Business Review (December, 2018). With V. Govindarajan, S. Rajgopal, and L. Enache.

  • Should everyone be allowed to invest in private tech companies?. Harvard Business Review (October, 2018). With V. Govindarajan, S. Rajgopal, and L. Enache.

  • Why we shouldn’t worry about the declining number of public companies. Harvard Business Review (August, 2018). With V. Govindarajan, S. Rajgopal, and L. Enache.

  • A blueprint for digital companies’ financial reporting. Harvard Business Review (August, 2018). With V. Govindarajan and S. Rajgopal.

  • Why we need to update financial reporting for the digital era. Harvard Business Review (June, 2018). With V. Govindarajan and S. Rajgopal.

  • Why financial statements don’t work for digital companies. Harvard Business Review (February, 2018). With V. Govindarajan and S. Rajgopal.

  •  The scary truth about corporate survival. Harvard Business Review (December 2016): 24−25. Based on work by V. Govindarajan and A. Srivastava.

Other peer-reviewed journals

1. Aobdia, D., L. Enache, and A. Srivastava. 2020. Changes in Big N auditors’ client selection and retention strategies over Time: a reexamination. Forthcoming, Review of Quantitative Finance and Accounting

2. Enache, L., A. Parbonetti, and A. Srivastava. 2019. Are all outside directors created equal with respect to firm disclosure policy? Review of Quantitative Finance and Accounting 55:541–577(2020)

3. Govindarajan, V. and A. Srivastava. 2018. Reexamining dual-class stock. Business Horizons 61: 461–466

4.  Srivastava, A. and S. Tse. 2016. Why are successive cohorts of listed firms persistently riskier? European Financial Management Journal 22(5): 957–1000.

5.  Srivastava, A., S. V. Sunder, and S. Tse. 2015. Timely loss recognition and the early termination of loss making projects. China Journal of Accounting Research 8(3): 147–167.

6. Rees, L., A. Srivastava, and S. Tse. 2014. Seemingly opportunistic management earnings guidance before stock option grants: does it misrepresent firms’ underlying performance? Asia-Pacific Journal of Accounting & Economics 21(2): 107–133.

7.  Srivastava, A. 2013. Do CEOs possess any extraordinary ability? Can those abilities justify large CEO pay? Asia-Pacific Journal of Accounting & Economics 20(4): 349–384.


Past Teaching

1. "Introductory Financial Accoonting" at the Haskayne School of Business, University of Calgary (Core for undergraduate students.)

2. “Financial reporting and statement analysis” and “Financial statement interpretation and analysis” at the Tuck School of Business, Dartmouth College. (Elective for MBA students.)

3.   “Introductory course in financial accounting” at Dartmouth College. (Undergraduate students)

4.  “Securities analysis” at the Kellogg School of Management, Northwestern University. (Elective for MBA students.)

5.   “Accounting  for  decision  making”  at  the  Kellogg  School  of  Management,  Northwestern University. (Core for MBA students.)

6.  “Introductory course in financial accounting” at Mays Business School, Texas A&M University. (Undergraduate students.)

Professional Service

  • Reviewer for The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Management Science, Review of Accounting StudiesContemporary Accounting Research, Accounting Horizons, Accounting Organizations and Society, Financial Management, European Accounting ReviewJournal of Accounting and Public Policy, Journal of Accounting, Auditing and Finance, Production and Operations Management, and Review for Accounting and Finance.
  • Deputy editor-in-chief for the Management and Business review
  • Editorial board member for Contemporary Accounting Research
  • Reviewer for Research Grants Council (RGC) of Hong Kong.
  • Associate editor for Asia-Pacific Journal of Accounting & Economics

Academic Presentations

University of Amsterdam (Netherlands), Alexandru Ioan Cuza University (Romania), Auckland University of Technology (New Zealand), Bentley University, University of Arizona, Boston University, University of Baltimore, Baruch (City University of New York); University of Calgary (Canada), University of California (Riverside), University of Chicago, City University (Hong Kong), Concordia University, Deakin University (Australia), Duke University, Florida Atlantic University, Florida State University, Hong Kong University of Science and Technology (Hong Kong), University of Houston, University of Illinois (Chicago), Indian School of Business (India), Koç University (Turkey), University of Maryland, University of Melbourne (Australia), Michigan State University, Nanyang Technological University (Singapore), University of Nebraska (Lincoln), University of New Hampshire, University of North Carolina, New York University, Northwestern University, Notre Dame University, University of Oklahoma, University of Ottawa (Canada), University of Pennsylvania, Padua University (Italy), Pennsylvania State University, University of Texas (Austin), University of Texas (Dallas), Texas A&M University, Tilburg University (Holland), University of Toronto (Canada), Tuck (Dartmouth), Victoria University (New Zealand), Virginia Tech, and George Washington University.


The Journal of Accounting and Economics (2008, 2009, 2010), Journal of Accounting Research (2010, 2011), Contemporary Accounting Research (2011), Center for Accounting and Research (2010, 2011, 2013), Lone Star Conference (2006 and 2007), Penn State Accounting Conference (2011, 2016), Hong Kong University of Science and Technology Accounting Symposium (2012), New York University Summer Camp (2013), Telfer Annual Conference on Accounting and Finance (2017), Temple University Accounting Conference (2013, 2016), Texas A&M conference (2011 and 2015), Tuck Accounting Conference (2015, 2016), Toronto Accounting Conference (2013), Indian School of Business (2011, 2013, 2015), University of Houston Accounting Research Symposium (2014), European Financial Management Association (2015, 2016, 2017), Canadian Accounting Association (2016, 2017), Northern Finance Association (2017), Conference on Financial Economics and Accounting (2007, 2015, 2016, and 2018), Columbia University Conference (2017), Harvard Business School’s IMO Conference (2018), University of Alberta Conference (2018) as a presenter, discussant, or as an invited participant.

Scholarships and Awards

  • Dean's Award for Innovative Research, 2020
  • Best Paper award at the 2018 European Institute for Advanced Studies in Management (EIASM) Interdisciplinary Workshop on “Intangibles & Intellectual Capital” (Munich, Germany)
  • Best Paper award at the 2017 annual meeting of the European Financial Management Association (Athens, Greece)
  • Excellence in Reviewing Award FARS 2017 meeting
  • Best Paper award at the 2016 audit midyear meeting
  • Best Paper award at the 2012 Midwest AAA meeting
  • Lawrence Revsine Research Fellowship offered by the Kellogg School of Management
  • Deloitte Fellowship of $25,000 for doctoral studies
  • Regents’ Scholarship at the Texas A&M University
  • Mays Business School Dean’s Scholarship for meritorious performance
  • Best teaching award for doctoral student at Mays Business School
  • National Talent Search Scholarship awarded by Government of India

SSRN, LinkedIn, HBR Author, and Google Scholar Websites

Select Videos

Presentation at Professional Accounting Centre, University of Toronto. The evolution of knowledge economy and declining relevance of financial statements.

Haskayne Hour: COVID-19’s Impact on Workforce: What to Think About Now

Global Insight: Korean TV: Digital tax war amid COVID-19 pandemic?

Global Insight: Korean TV: Is Korean Air turning into a monopoly

Global Insight: Korean TV: World running out of game consoles, cars amid semiconductor shortage

Chartered Association of Business Schools (UK): Post-pandemic strategy for higher education


Select Media References

  • NewYork Times: What Is GameStop, the Company, Really Worth? Does It Matter?
  • BBC World Service: 3 Reasons Why "Responsible Capitalism" is Still an Illusion
  • Bloomberg: Maybe Dollars Should Be Digital
  • Bloomberg: Is Value Dead? Debate Rages Among Quant Greats From Fama to AQR
  • SEC Commissioner’s Speech: Scarlet Letters: Remarks before the American Enterprise Institute
  • Forbes: What Does Virtual Learning Mean For The Future Of Higher Education?
  • Wall Street Journal: Value’s Rebounding, but Don’t Get Your Hopes Up
  • Financial Times: Corporate America experiences ‘K-shaped’ recovery
  • Globe and Mail: Why the violent upturn in value stocks may not have staying power
  • Barrons: What Digital Companies Need to Tell Investors
  • Forbes: Corporate America Is Now Almost As Risky As Main Street
  • Forbes: How A Decline In Mean Reversion May Be Hurting Value Investors
  • Forbes: Is Tech The Next Boogie Man? Congress Would Be Better Off Focusing On Healthcare
  • Marketwatch: The nightmare continues for ‘value’ investors. Here’s why
  • Institutional Investor: Value Investing’s Heady Days Aren’t Coming Back, Study Says
  • MSN News: The WeWork CEO’s outsize power is one reason the company is imploding
  • ETF Trends: How Accounting Can Distort Valuations
  • Reuters: The Downward Spiral of IPO Generations
  • NPR Marketplace: Research Explores The Effects Of Trade And Economic Disruption
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