Cathy Shakespeare

Cathy Shakespeare is the Thomas C. Jones Associate Dean for Undergraduate Education and a Professor of Accounting at the Ross School of Business, University of Michigan. She holds a PhD from the University of Illinois at Urbana-Champaign (2002) and a BA from Dublin City University (1990). Her research focuses on financial reporting processes and their impacts on managerial and capital market decisions, with a particular emphasis on fair value accounting, regulatory responses, and earnings management. Professor Shakespeare’s work has been published in top journals such as the Review of Accounting Studies and the Accounting Review.

Her recent research explores the effects of fair value accounting on comparability, regulatory uncertainty (e.g., Basel III), and the implications of debt valuation adjustments for credit risk. She has also examined market reactions to securitization impairments during the 2008 crisis and the role of corporate governance in reporting practices.

Professor Shakespeare has been honored as the Michael and Jean Sakkinen Faculty Fellow. Her contributions extend to academic policy, including involvement with the American Accounting Association’s Financial Accounting and Reporting Section. She actively advises on undergraduate education and maintains affiliations with platforms like Deep Blue and SSRN.