Darren Roulstone

John W. Berry, Sr. Fund for Faculty Excellence Professor of Accounting

Accounting & Management Information Systems


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, Contemporary Accounting Research, and the Review of Accounting Studies. 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 and a doctoral seminar on capital markets 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. 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 from the University of Michigan.


  • 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

Areas of Expertise

  • Analyst Following
  • Capital Markets
  • Disclosures
  • Financial Reporting
  • Information Intermediaries
  • Institutional Investors
  • Capital Markets


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


  • Roulstone, Darren, Travis Dyer, and Andrew Van Buskirk. "Disclosure Similarity and Future Stock Return Comovement." forthcoming, 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.

Working Papers

  • Roulstone, Darren T. and Oliver Binz. "Did the 1934 Securities Exchange Act Increase Accounting Comparability?"


ACCTMIS 6200 - Financial Reporting
Examination of major aspects of corporate financial reporting by management under U.S. GAAP, including: revenue recognition, financial statement presentation, and disclosures and accounting for long-term debt, deferred taxes, and stock-based compensation, along with discussion of accounting standard setting and financial statement analysis. Prereq: Enrollment in Master of Accounting Program. Not open to students with credit for 7200.
ACCTMIS 8780 - Doctoral Seminar in Accounting & MIS
Required seminar in Accounting and MIS for first year doctoral students. Prereq: Enrollment in AcctMIS PhD program.
ACCTMIS 7220 - Financial Statement Analysis
Examines the role of financial statement analysis in the evaluation of the firm's financial performance and the prediction of its future economic condition. Prereq: MBA 6211 (800), or enrollment in MAcc program. Not open to students with credit for 842.