Anastasia Zakolyukina studies corporate governance and incentives, accounting manipulation, linguistic-analysis of disclosures, and accounting-based risk assessment. Her most recent work titled "Detecting Deceptive Discussions in Conference Calls' examines prediction of misstatements from the conference calls narratives of CEOs and CFOs. This study has been mentioned in The Economist, NPR, the Wall Street Journal, the New York Times, CBC, CNBC, and Bloomberg.
Zakolyukina earned her Ph.D. in Business Administration from Stanford Graduate School of Business. Additionally, she holds a M.A. in Economics from the New Economic School. Before pursuing graduate studies, Zakolyukina studied at the Udmurt State University where she earned dual degrees in Information Systems and Law.
Outside of academia, Zakolyukina has worked as an analyst at the Center for Economic and Financial Research in Moscow and was also a short-term consultant at the World Bank, International Bank for Reconstruction and Development
REVISION: Measuring Intentional Manipulation: A Structural Approach
Date Posted: Apr 22, 2013
Using a sample of about 1,500 CEOs in the post-Sarbanes-Oxley Act of 2002 period, I estimate the extent of undetected intentional manipulation in earnings and managers' manipulation costs using a dynamic finite-horizon structural model. The model features a risk-averse manager, who receives cash and equity compensation and maximizes his terminal wealth. I find that the expected cost of manipulation is low. The probability of detection is estimated to be 9%, and the average misstatement results i
REVISION: Detecting Deceptive Discussions in Conference Calls
Date Posted: Jan 28, 2012
We estimate classification models of deceptive discussions during quarterly earnings conference calls. Using data on subsequent financial restatements (and a set of criteria to identify especially serious accounting problems), we label each call as “truthful” or “deceptive”. Our models are developed with the word categories that have been shown by previous psychological and linguistic research to be related to deception. Using conservative statistical tests, we find that the out-of-sample perfor