Michael Minnis

Michael Minnis is the Fuji Bank and Heller Professor of Accounting and Deputy Dean for Faculty at the University of Chicago Booth School of Business. His academic career focuses on the role of accounting information in efficient capital allocation, with particular expertise in private company financial reporting and its impact on investment decisions.

Dr. Minnis received his educational training from prestigious institutions:

• PhD from the University of Michigan
• BS from the University of Illinois, graduating with Highest Honors

Professor Minnis's research centers on understanding how accounting information facilitates efficient investment decisions by both managers and capital providers, with specialized focus on privately held companies in the U.S. economy. His work examines how these firms utilize financial reporting to access, deploy, and manage capital, with methodological emphasis on identifying unique data sources and innovative empirical approaches. This research addresses critical issues regarding information opacity in private firms and the interplay between management in the production and use of financial information, contributing significantly to our understanding of capital markets dynamics.

His scholarly work demonstrates a consistent trajectory examining the relationship between financial reporting quality and capital market efficiency, with increasing specialization in private company accounting issues. Minnis's research employs sophisticated empirical methods to analyze how financial information affects lending decisions, investment allocation, and regulatory frameworks, particularly in the private company context, revealing important connections between financial statement verification, audit quality, and economic outcomes.

Among his significant professional service roles, Minnis became a member of the Private Company Council in January 2018, serving as the primary advisory council to the Financial Accounting Standards Board (FASB) on private company issues. In this capacity, he helps shape accounting standards as they relate to private companies, bridging academic research with practical standard-setting.

Beyond his academic work, Professor Minnis has engaged in practical applications of his research through consulting projects, most notably collaborating with Lincoln International to develop and launch the Lincoln Middle Market Index, which tracks the value of private middle market companies. His prior industry experience includes corporate finance roles at Eli Lilly and Company, public accounting at Fitzgerald | Isaac, p.c., and founding Controller Associates LLC, which provided CFO services to startups until its sale in 2006.