Michael Kimbrough Directory Page
Michael Kimbrough
Area Chair, Accounting and Information Assurance
Professor
LeRoy J. Herbert Fellow
Ph.D. in Accounting, Indiana University in Bloomington
Michael D. Kimbrough joined the Robert H. Smith School at University of Maryland in 2010 after spending eight years at Harvard Business School as a faculty member in the Accounting and Management Unit. Professor Kimbrough earned his B.A. in Economics from Washington University in St. Louis and his Ph.D. in Accounting from Indiana University in Bloomington. Prior to returning to graduate school for his doctoral studies, he worked as a certified public accountant with Price Waterhouse, where he worked with a variety of manufacturing and high-technology clients. Professor Kimbrough's research focuses on corporate financial reporting, with particular emphases on firms' voluntary disclosure practices and on accounting for intangible investment. His research has been published in leading academic journals including: The Accounting Review and Journal of Accounting Research. He is a member of the American Accounting Association and currently serves on the editorial board of The Accounting Review.
News
Globally Leading Experts Gather at UMD for Forum on Financial Information Systems and Cybersecurity: A Public Policy Perspective
Research
Academic Publications
AI-powered Analysts
We explore how brokerage firms’ investments in artificial intelligence (AI) affect their analysts’ information production. We find that analysts employed at brokerage firms with greater AI integration issue more accurate earnings forecasts. Cross-sectional analyses reveal that AI’s benefits are more pronounced for analysts with less firm-specific experience and when the firm’s disclosures are more readable. Further tests indicate that a key mechanism driving the improvement in forecast accuracy is that AI adoption helps mitigate the adverse effects of analyst decision fatigue and optimism bias. Finally, we find that forecast revisions made by AI-powered analysts are more informative to capital markets. Overall, our evidence points to the advantageous impact of AI on information production capabilities of financial analysts.