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Robert Holthausen

Professor and Chairperson (Accounting, Wharton)

Robert W. Holthausen is the Nomura Securities Company Professor of Accounting and Finance at the Wharton School and has been on the University of Pennsylvania's faculty since 1989. Prior to 1989, he was on the accounting and finance faculty at the Graduate School of Business of the University of Chicago for ten years. Dr. Holthausen earned his doctorate at the University of Rochester where he also earned his M.B.A. Prior to his academic career, Professor Holthausen worked as a C.P.A. for Price Waterhouse and as a financial analyst with Mobil.
His teaching has been concentrated in the areas of investment management and valuation. Currently his primary teaching responsibility is for the valuation class he developed for Wharton. He has teaching experience at the undergraduate, M.B.A., and Ph.D. levels and has won teaching awards from both the undergraduate and M.B.A. students at Wharton, including David J. Hauck award for undergraduate teaching, awarded to one tenured faculty member per year. He has taught executive education programs at both the Wharton School and the University of Chicago.
Professor Holthausen is widely published in both finance and accounting journals. His research has studied the effects of management compensation and governance structures on firm performance, the effects of information on volume and prices, corporate restructuring and valuation, the effects of large block sales on common stock prices, and numerous other topics. His research has appeared in such journals as the Accounting Revue, the Journal of Accounting Research, the Journal of Accounting and Economics, the Journal of Finance, and the Journal of Financial Economics. In addition, he serves in various editorial capacities for all five journals listed above; either as associate editor, editorial board member or reviewer.
Professor Holthausen’s consulting and company-specific executive education experiences are varied. In the past, he has consulted with Chemical Bank, Coopers and Lybrand, Ernst Young, FMC, Ford, IBM, Interpublic, McCann-Erikson, Merrill Lynch, Montgomery Ward, Polaroid, Pratt and Whitney, Price Waterhouse, Prudential Securities, Renaissance Technologies, and Tucson Electric, among others. His specific consulting engagements are varied and include such diverse activities as serving as a compensation consultant to a Fortune 500 Company, consulting with an investment company in the development of fundamental trading rules used to manage equity portfolios and performing valuation analysis in a variety of situations. In addition, he is President and Chairman of State Line Farm, Inc., a small fourth-generation family corporation that manages real estate and timber interest.

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