Christopher Ittner

Professor Ittner’s research focuses on the design, implementation, and performance consequences of performance measurement, cost management, and enterprise risk management systems. His articles have been published in the Harvard Business Review and leading academic accounting, marketing, and operations management journals. He is an editor of The Accounting Review, and has served as senior editor at Production and Operations Management and associate editor for Accounting, Organizations and Society, Management Science, and several other academic journals. His work on the association between customer satisfaction measures and financial performance received the American Accounting Association’s Notable Contribution to Management Accounting Literature Award.

Professor Ittner teaches the undergraduate management accounting core course, an MBA cost management elective, and executive education sessions on cost accounting and marketing metrics. In addition, he runs management accounting doctoral courses for students from throughout the United States and Europe. He is the recipient of several MBA teaching awards.

Professor Ittner received his BS from California State University, Long Beach, his MBA from UCLA, and a Doctorate in Business Administration from Harvard University.

Christopher D. Ittner and Jeremy Michels (2017), RiskBased Forecasting and Planning and Management Earnings Forecasts, Review of Accounting Studies, conditionally accepted.

Abstract: This study examines the association between a firm’s internal information environment and the accuracy of its externallydisclosed management earnings forecasts. Internally, firms use forecasts to plan for uncertain futures. The risk management literature argues that integrating riskrelated information into forecasts and plans can improve a firm’s ability to forecast future financial outcomes. We investigate whether this internal information manifests itself in the accuracy of external earnings guidance. Using detailed survey data and publiclydisclosed management earnings forecasts from a sample of publiclytraded U.S. companies, we find that more sophisticated riskbased forecasting and planning processes are associated with smaller earnings forecast errors and narrower forecast widths. These associations hold across a variety of different planning horizons (ranging from annual budgeting to longterm strategic planning), providing empirical support for the theoretical link between internal information quality and the quality of external disclosures.

Joseph Gerakos, Christopher D. Ittner, Frank Moers (Under Revision), Compensation Objectives and Business Unit Pay Strategy.

Christopher Armstrong, Yuen Kit Chau, Christopher D. Ittner, Liang (Jason) Xiao (Working), Internal Versus External Earning per Share Goals and CEO Incentives.

Christopher Armstrong, Christopher D. Ittner, David F. Larcker (Working), The Determinants and Ratings Implications of Performance Appraisal Plan Characteristics.

Christopher D. Ittner and Thomas Keusch (Working), The Influence of Board of Directors’ Risk Oversight on Risk Management Maturity and Firm RiskTaking.

H. Chang, J. Chen, R. Duh, Christopher D. Ittner (Under Revision), “Is Sunlight the Best Disinfectant? Evidence From Differential Auditor Fee Disclosure Requirements.

Francesca Franco, Christopher D. Ittner, Oktay Urcan (2016), Determinants and Trading Performance of Equity Deferrals by Corporate Outside Directors, Management Science, Forthcoming.

Abstract: This study investigates the determinants and trading performance of outside directors’ equity deferrals, which represent the choice to convert part or all of their annual cash compensation into deferred company stock. Using a large sample of S&P 1500 firms that allowed directors to defer their cash fees into equity between 1999 and 2009, we find significant associations between equity deferral choices and specific features of the director compensation plans, proxies for directors’ outside wealth diversification, and future firm stock market performance. Trading performance analyses indicate that outside directors earn substantial abnormal returns from their deferrals, with a significant proportion of the deferral transactions occurring during blackout periods. These results are consistent with companies structuring director equity deferral plans to circumvent U.S. Securities and Exchange Commission Rule 10b5’s trading restrictions.

Christopher D. Ittner and D. Oyon (Under Revision), CFO Risk Ownership and the Influence of the Finance Function on Enterprise Risk Management.

Christopher D. Ittner (Work In Progress), Bringing Big(ger) Data to Managerial Accounting Research.

Carlo Gallimberti and Christopher D. Ittner (Work In Progress), Management Sales Forecasts and Capital Expenditure Decisions.

Past Courses

ACCT102 MANAGERIAL ACCOUNTING

The first part of the course presents alternative methods of preparing managerial accounting information, and the remainder of the course examines how these methods are used by companies. Managerial accounting is a company's internal language, and is used for decisionmaking, production management, product design and pricing and for motivating and evaluating employees. Unless you understand managerial accounting, you cannot have a thorough understanding of a company's internal operations. What you learn in this course will help you understand the operations of your future employer (and enable you to be more successful at your job), and help you understand other companies you encounter in your role as competitor, consultant, or investor.

ACCT706 COST MANAGEMENT

This course covers managerial accounting and cost management practices that can be strategically applied across the various functions of a business organization to improve organizational performance. The course emphasizes the methods available to measure and evaluate costs for decisionmaking and performance evaluation purposes. It reviews a number of cost management issues relating to the design and implementation of strategic, marketing, value analysis, and other management models in modern firms; and identifies major contemporary issues in managerial accounting and financial decision making. A variety of case studies in different industries and decision contexts are used to examine the application of these concepts.

ACCT921 EMPIRICAL RES IN ACCT I

The course covers empirical research design and provides students with a perspective on historically important accounting research. Topics covered such as research on the timeseries and crosssectional properties of financial accounting measures, capital markets behavior, financial intermediaries, and international accounting research.

ACCT922 EMPIRICAL RES IN ACCT II

The course covers empirical research design and provides students perspective on historically important accounting research. Topics covered such as research on the timeseries and crosssectional properties of financial accounting measures, capital markets behavior, financial intermediaries, and international accounting research. Topics covered may include corporate governance, executive compensation, debt contracting, accounting regulation, tax, and management accounting.

• Plenary Speaker, Global Management Accounting Research Symposium, Copenhagen, 2015
• Emmanuel Saxe Lecture in Accounting, Baruch College, 2014
• MBA Core Teaching Excellence Award, 2012
• Keynote Speaker, Performance Management Conference, University of Economics, Prague, 2012
• Keynote Speaker, Performance Scorecard Conference, Temple University, 2012
• Innovation Award, Business Insurance magazine (for joint work with AON on the development and validation of the Risk Maturity Index), 2012
• Australian Business Award for Innovation (for joint work with AON on the development and validation of the Risk Maturity Index), 2012
• MBA Core Teaching Excellence Award, 2010
• Keynote Speaker, Dutch Controllers’ Institute Annual Conference, 2010
• Keynote Speaker, European Institute of Avanced Studies in Management, Manufacturing Accounting Research Conference, 2010
• MBA Core Teaching Excellence Award, 2009
• Distinguished Visiting Faculty, American Accounting Association Doctoral Consortium, 2009
• PricewaterhouseCoopers Distinguished Speaker, Michigan State University, 2008
• Keynote Speaker, Information for Better Markets Conference, Institute of Chartered Accountants in England and Wales, London, 2007
• Goes above and beyond the call of duty Teaching Award, 2006
• Plenary Speaker, Management Accounting Research Conference, American Accounting Association, 2005
• Tough, but we’ll thank this professor in five years Teaching Award, 2004
• Keynote Speaker, European Institute for Advanced Studies in Management, Management Accounting Research Conference, Brussels, Belgium, 2004
• Keynote Speaker, Performance Management Association Conference, Scotland, 2004
• Keynote Speaker, Advances in Management Accounting Conference, 2003
• MBA Core Cluster Teaching Award, 2001
• Notable Contribution to Management Accounting Literature, American Accounting Association (Management Accounting Section), 2001
• Resident Faculty, American Accounting Association Doctoral Consortium, 2001
• MBA Core Cluster Teaching Award, 2000
• Roedgers Distinguished Lecture in Accounting, University of Illinois, 2000
• Faculty Speaker, AAA Management Accounting Section Doctoral Consortium, 2000
• MBA Core Cluster Teaching Award, 1999
• Distinguished Visiting Faculty, American Accounting Association Doctoral Consortium, 1999
• Faculty Speaker, AAA Management Accounting Section Doctoral Consortium, 1999
• MBA Core Cluster Teaching Award, 1998
• Keynote International Speaker, Sixth Biennial Management Accounting Research Conference, Australia, 1998
• Faculty Speaker, PAC10 Doctoral Consortium, 1998
• MillerSherrerd MBA Core Curriculum Teaching Award, 1996
• MBA Core Cluster Teaching Award, 1996
• MillerSherrerd MBA Core Curriculum Teaching Award, 1995
• MBA Core Cluster Teaching Award, 1995
• MillerSherrerd MBA Core Curriculum Teaching Award, 1992

Prof. of Accounting Christopher Ittner is noted for his research on why companies with better risk management may get a financial boost., Risk & Insurance 12/17/2013

Knowledge @ Wharton

• The CFO Imperative: Managing Risks Arising from Technology, Knowledge @ Wharton 09/19/2016
• Why Getting Directors on Board with Risk Management Matters, Knowledge @ Wharton 09/11/2015
• Forging a Link Between Shareholder Value and Social Good, Knowledge @ Wharton 05/19/2003
• Technological Wizardry Aside, How Can the Internet Reshape Your Business?, Knowledge @ Wharton 04/24/2002
• Tangible Agitation Over a Proposal on Intangible Assets, Knowledge @ Wharton 09/26/2001
• It’s Not Just How Many, But Who Gets Stock Options That Matters, Knowledge @ Wharton 03/19/2001
• Nonfinancial Performance Measures: What Works and What Doesn’t, Knowledge @ Wharton 12/06/2000
• Measures That Matter: Aligning Performance Measures With Corporate Strategy, Knowledge @ Wharton 09/29/1999