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Jenny Chu

Jenny Chu

University Lecturer in Accounting

BBA (University of Michigan, Ann Arbor), MBA (University of California, Berkeley), PhD (University of California, Berkeley)

Research interests

Stock markets and financial information: earnings quality, capital market reactions to accounting information, sell-side analysts, management incentives and compensation.

Subject group: Accounting

Professional experience

Jenny combines teaching and research with a background in investment banking and portfolio management. She has worked on initial public offerings, private equity, as well as mergers and acquisition transactions for technology companies at Credit Suisse First Boston (now Credit Suisse) in Silicon Valley. She later transitioned into a portfolio management role at the hedge fund division of Barclays Global Investors (now Blackrock). Jenny is a member of the Cambridge Corporate Governance Network (CCGN).

Awards & honours

  • FMA Competitive Paper in Corporate Finance Award for the paper "Do compensation consultants enable higher CEO pay? New evidence from recent disclosure rule changes", 2015
  • Cambridge Judge Business School Teaching Award, 2013
  • Crawford Research Assistant Fellowship Award, University of California, Berkeley, 2008
  • CJ White Investment Banking Scholarship, University of California, Berkeley, 2004
  • Alumnae Council Scholarship, University of Michigan, Ann Arbor, 1999-2000
  • Class Honors, University of Michigan, Ann Arbor, 1997-2000
  • Phi Kappa Phi Honor Society

Selected publications

Chu, J., Faasse, J. and Rau, P.R. (2017) "Do compensation consultants enable higher CEO pay? A disclosure rule change as a separating device." Management Science (DOI: 10.1287/mnsc.2017.2845) (published online Oct 2017; forthcoming in print) (available online via the SSRN)

Gupta, A., Chu, J. and Ge, X. (2016) "Form over substance? An investigation of recent remuneration disclosure changes in the UK." Social Science Research Network Working Paper.

Chu, J., Dechow, P.M., Hui, K.W. and Wang, A.Y. (2015) "The valuation premium for a string of positive earnings surprises: the role of earnings manipulation." Social Science Research Network Working Paper.

Chu, J. (2012) "Accruals, growth, and future firm performance." Social Science Research Network Working Paper.

What motivates a firm to manipulate earnings?

A strong CEO and an increase in institutional shareholding both play a role in the likelihood of earnings manipulation, linked to beating …

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‘Form over substance’ in new UK company reporting rules?

New UK disclosure rules did not curb CEO pay or improve pay-performance link, but instead led to “opportunistic reporting” for reputation management, …

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Too good to be true?

There is a clear connection between earnings manipulation and a string of consecutive “beats” of analyst expectations, finds study co-authored at University …

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CEO pay paper award

Research on the link between compensation consultants and higher CEO pay wins Corporate Finance award from the Financial Management Association. A research …

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Compensation consultants lead to higher CEO pay

Consultants a ‘justification device’ for higher executive pay, says study at Cambridge Judge Business School. A study of more than 1,000 US …

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Six reasons why … star performers are bad for the bottom line

Everyone – shareholders, board members, even colleagues – loves a star performer. But how many deliver on the top hire promise? CJBS …

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Financial Times: How to spot companies at risk of earnings manipulation

Dr Jenny Chu, University Lecturer in Accounting at Cambridge Judge Business School, comments on her new study on corporate earnings manipulation. The …

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European Business Review: We need a greater focus on the benefits women in top executive roles bring to companies

Sucheta Nadkarni, Sinyi Professor of Chinese Management at Cambridge Judge Business School, discusses women’s leadership in business and why companies need to …

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Business Because: Harvard Business School is helping women break into the boardroom

Harvard Business School is launching an executive education course to help senior female managers break into the boardroom. “Unconscious bias is detrimental …

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Cambridge Business Magazine: Theresa May won’t like this…

New UK disclosure rules did not curb CEO pay or improve pay-performance link, but instead led to “opportunistic reporting” for reputation management, …

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The Wall Street Journal: The morning risk report: CEO-employee pay ratio disclosure no panacea

In an article about US companies disclosing the ratio of a CEO’s compensation package to that of an average employee, Dr Jenny …

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Financial Times: UK disclosure rules tying CEO pay and performance not working

New UK disclosure rules did not curb CEO pay or improve pay-performance link, but instead led to “opportunistic reporting” for reputation management, …

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Cambridge Business Magazine: Gender diversity and executive roles

Term limits for directors and gender diversity rules in corporate governance codes help improve female representation in top executive roles, but quotas …

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LexisNexis: Strategies to get women into senior roles – does any of it work?

Term limits for directors and gender diversity rules in corporate governance codes help improve female representation in top executive roles, but quotas …

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The Wall Street Journal: Earnings season: Time to tweak Warren Buffett’s maxim

The research on earnings manipulation co-authored by Dr Jenny Chu, University Lecturer in Accounting at Cambridge Judge Business School, featured in the …

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Business Times Singapore: Diversity works

Lee Suet-Fern looks at gender diversity in boardrooms in Singapore and why it’s important to have more women in senior roles. The …

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Reuters Breakingviews: Boardroom gender quotas have hidden value

Term limits for directors and gender diversity rules in corporate governance codes help improve female representation in top executive roles, but quotas …

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Business Standard: Targets with teeth

Gender quotas in boardrooms is not the best way to retain women in senior positions, according to a new study led by …

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The Scotsman: Workplace pay statistics make disheartening reading

Study led by Sucheta Nadkarni, Sinyi Professor of Chinese Management at Cambridge Judge, finds that quotas make no real difference to female …

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City AM: International Women’s Day 2016: Sorry, but quotas aren’t the way to get more women into executive roles

Term limits for directors and gender diversity rules in corporate governance codes help improve female representation in top executive roles, but quotas …

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Cambridge Business Magazine: Earnings manipulation unmasked

If a company “beats” analyst expectations for a series of consecutive reporting periods, some sceptics might wonder if the numbers are simply …

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Reuters Breakingviews: Beat surrender

A study co-authored by Jenny Chu, University Lecturer in Accounting at Cambridge Judge Business School, shows how companies that manipulate their results …

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The Economist: How companies massage their profits to beat market forecasts

Executives have every incentive to match or beat forecasts as the market punishes those that fail to do so. That, in turn, …

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The Economist: Executive compensation: If you hire them, pay will come

The research on executive pay by Cambridge Judge’s Professor Raghu Rau, Dr Jenny Chu and PhD Jonathan Faasse is featured second time …

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The Times: Hiring pay ‘experts’ brings rich rewards for chief executives

Further coverage of research by Cambridge Judge’s Professor Raghavendra Rau, Dr Jenny Chu and PhD candidate Jonathan Faasse. The research shows that …

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The Economist: If you hire them, pay will come

A new research shows that companies hire compensation consultants ‘as a justification device for higher executive pay.’ The research by Cambridge Judge …

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Contact details

Jenny Chu
Cambridge Judge Business School
University of Cambridge
Trumpington Street
Cambridge CB2 1AG
UK

Tel: +44 (0)1223 766892
Fax: +44 (0)1223 339701

j.chu@jbs.cam.ac.uk