Carol Graham

Carol Graham


Full-Time Faculty


Carol Graham joined the University of San Francisco, School of Management in 1998. Carol has a PhD in Accounting & Finance from the University of Strathclyde, Scotland. Her research focuses primarily on the stock market implications of financial information. She has also recently published pedagogical research and work related to social justice.


  • PhD, Accounting & Finance, University of Strathclyde, Scotland, U.K., 1995
  • Visiting PhD student, Department of Accounting, New York University, NY, 1992 – 1994
  • BA, Business Administration (Accounting), University of Strathclyde, Scotland, U.K., 1989

Prior Experience

  • Educational Consultant, Farallon Capital Management, San Francisco, CA, 2000 - 2005
  • Financial Consultant, Superfresh Foods, San Francisco, CA, 1995 - 2008
  • Chief Financial Officer, GiftLink Corporation, San Francisco, CA, 1995 - 1998
  • Financial Advisor, Nexistant, 2009 – present

Awards & Distinctions

  • Outstanding Teaching Award, USF School of Management, 2000, 2007, 2008, and 2015
  • Outstanding Service Award, USF School of Management, 2001, 2006, and 2015
  • Outstanding Research Award, USF School of Management, 2003
  • Outstanding Teaching Award, USF School of Management, MBA program, 2002

Selected Publications

  • The following list is a selection of recent publications and does not represent the entire body of research.
  • Alphas: A Case study in International Institutional Mutual Funds. Accounting and Finance Research, Vol. 9, No 4, 2020. With Francisco Delgado and Cathy Goldberg
  • CEO Overconfidence and Corporate Risk Taking: Evidence from Pension Policy. Journal of Corporate Accounting and Finance. Vol. 31(4), 2020. With Joohyung Ha and Cathy Goldberg.
  • “Is the Agency Assumption Valid for Public Corporations”, Journal of Management Policy and Practice. 2018. With Todd L. Sayre
  • “How the Balance Sheet Misrepresents Shareholder Claims and Undermines the Entity Perspective” with Todd L. Sayre. International Journal of Critical Accounting 2018.
  • “Comment Letter Activity: A response to Proposed Changes in Lease Accounting” with Fernando H. Comiran. Research in Accounting Regulation 2016, Volume 28, Issue 2.
  • “Current and Future Jesuit-Educated Managers’ Perceptions of Socially Responsible Business Practices” with A. D Patino et al. Jesuit Higher Education: A journal 2016, 5(1):76-84
  • "Promoting Justice and the Common Good in the Modern Economy" with Todd L. Sayre, 2014. Published by Lexington Press as part of a collection of peer-reviewed essays entitled The Church in the Modern World 50 Years After Gaudium et Spes: Reading the Signs of the Times.
  • "One Size Does Not Fit All - Different Strategies for Teaching Accounting Ethics," Research on Professional Responsibility and Ethics in Accounting, Vol. 17, 2013 (with Patrick Kelly, Dawn W. Massey and Joan Van Hise)
  • "The Effects of Task Interdependency on Cooperative and Competitive Group Processes: An Example of Scheduling Audit Engagements" Human Resource Management Research, Vol.2, No.5, 2012 (with Todd L. Sayre)