Stephen H. Penman is the George O. May Professor in the Graduate School of Business, Columbia University. He also serves as codirector of Columbia’s Center for Excellence in Accounting and Security Analysis. Prior to his appointment at Columbia in 1999, Penman was the L. H. Penney Professor in the Walter A. Haas School of Business at the University of California at Berkeley. From 1990 to 1995 he served as Chairman of the Professional Accounting Program and Chairman of the Accounting Faculty at Berkeley. He has served as a Visiting Professor at the London Business School, as the Jan Wallander Visiting Professor at the Stockholm School of Economics, and in the Cheng Tsang Mun Chair Visiting Professorship at Singapore Management University.
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