Stephen Loeb and UMD Newly Recognized as Scholarly Leaders in Accounting Ethics

Stephen Loeb, a retired professor and former department chair of the Accounting and Information Assurance Department at the University of Maryland’s Robert H. Smith School of Business, is newly recognized as a leading scholar in the field of accounting ethics in the Journal of Accounting Literature.

“Unpacking Elitism: A Comprehensive Review of Accounting Ethics Education Research (1970–2023),” a 2025 paper by Lan Anh Nguyen, Steven Dellaportas and Duc Hong Thi Phan, cites Loeb as a foundational figure in shaping the domain’s development and pedagogical methods.

“The article also lists the University of Maryland as a leading institution in this field on the strength of Steve’s research,” says Professor and Area Chair of Accounting and Information Assurance Michael Kimbrough. “This recognition reinforces his enduring Smith School legacy as a pioneer in ethics education and active learning.”

Loeb’s service and research contributions have been prolific. He taught for 47 years, published extensively (including in top journals such as The Accounting Review) and held an Ernst & Young Alumni Professorship.

The latest recognition, in ‘Unpacking Elitism,’ cites his influential work on integrating ethics into curricula, active learning approaches and early advocacy for dedicated ethics instruction. The article ranks Loeb, with nine publications, as No. 1 under “Key Authors.” His output, according to the authors, additionally positions UMD as No. 1 under “Top 20 institutions publishing accounting ethics education research.”

The authors further write, “[Loeb] launched the school’s Business Ethics Experiential Learning Module, placing full-time MBA students inside federal prisons to meet white-collar criminals. Led by Stephen Loeb, Maryland became the first state to require an ethics course before applicants could take the CPA exam.”

The article further cites his 2015 paper “Active Learning: An Advantageous Yet Challenging Approach to Accounting Ethics Instruction” in the Journal of Business Ethics. The work examines the use of active learning techniques in accounting ethics courses. Loeb highlights key advantages, such as greater realism in ethical scenarios, more durable and deeper student learning and enhanced student engagement and critical thinking. He also addresses significant challenges, including increased preparation time for instructors, classroom management issues and potential difficulties in assessment.

“It is nice to receive recognition even in retirement,” says Loeb, who retired in spring 2017 as Professor Emeritus. “One of the reasons I decided many years ago on UMCP as a place to work is that I felt it was an eclectic institution that recognized many types of research programs.”