JACQUELYN R. GILLETTE, CPA
University of Rochester
Simon Business School
4-349 Carol Simon Hall, Rochester, NY 14627
Email: jacquelyn.gillette@simon.rochester.edu
Mobile: 775.303.4477
EDUCATION
University of Rochester: Simon Business School
Ph.D. Candidate in Accounting, expected June 2016
Minor Area: Finance
University of Rochester: Simon Business School
Masters of Science in Business Administration
University of Georgia: Honors Program
B.B.A. Accounting, Valedictorian
Oxford University
Study Abroad, Oxford, England
Wheeler High School: Math, Science, and Technology Magnet School
Valedictorian
2011 - Present
2011 - 2014
2003-2007
Spring 2006
1999-2003
RESEARCH
Research Interests
The role of information intermediaries in capital markets, the use of accounting information in public debt markets, and the
determinants of voluntary firm disclosures
Dissertation
The Information Content of Debt Analyst Reports for Firms in Financial Distress
Dissertation Committee: Charles Wasley (Co-chair), Jerry Zimmerman (Co-chair), Bill Schwert, and Joanna Wu
I examine whether the primary function of sell-side debt analysts in public debt markets lies in marketing the issues of their
investment banking clients or in reducing information asymmetry between firm managers and capital providers. I examine the
information content of debt analyst reports in the corporate bond market for firms in financial distress. I also investigate
whether the lack of conflict of interest regulations regarding debt analysts’ interactions with other divisions of the investment
bank impairs the accuracy of the qualitative predictions in debt analysts’ reports.
Work-in-Progress
The Economic Determinants of Variation in the Information Content of Accounting Disclosures to Debt
Analysts
I examine the process by which debt analysts arrive at their investment recommendations and the role of accounting
information in that process. I investigate how sell-side debt analysts use the information in accounting disclosures including
earnings announcements and other 8-K filings to analyze changes in default risk.
Accounting Restatements, Malfeasance, and Optimal Incompetence (with Sudarshan Jayaraman and Jerry
Zimmerman)
This paper develops a model of accounting restatements as a function of the firm-value-maximizing investment in accounting
systems (i.e., “optimal incompetence”) and incentives to intentionally misrepresent the firm’s financial performance (i.e.,
“malfeasance”). We propose two measures of the firm’s investment in accounting systems: filing timeliness of the firm’s 10-K
and spelling errors in the 10-K.
How the Debt Market Shapes Firms’ Voluntary Disclosure Practices (with Amanda Badger and Charles Wasley)
The majority of accounting disclosure research examines the role equity market participants play in shaping firms’ voluntary
disclosure practices. We investigate how debt market participants shape firms’ voluntary disclosure practices, for example, the
likelihood that firms provide leverage, capital expenditure, interest coverage, and cash flow forecasts.
IFRS and Debt Market Information: Evidence from 20-F Reconciliations (with Bryce Schonberger and Charles
Wasley)
We examine the information content of accounting numbers for credit market participants by examining the relation between
the components of form 20-F reconciliations from IFRS to U.S. GAAP, credit ratings, and bond trading volume.
Investor Responses to the Cessation of Earnings Guidance: Evidence from Google Search Data (with Amanda
Badger and Charles Wasley)
Prior research documents the economic determinants and the consequences to the cessation of providing earnings guidance.
We investigate the actions that investors can and do take in response to this loss of information.
The Nature and Economic Determinants of Firms’ Choice of Guidance Mix (with Amanda Badger and Charles
Wasley)
We examine the nature of the overall guidance mix that a firm releases to the market in a given fiscal period, including
forecasts of earnings, sales, EBITDA, operating income, gross margin, capital expenditures, pre-tax income and combinations
thereof. Our study provides evidence on how the variety of earnings-related guidance shapes and affects firms’ information
environments and how capital market participants respond to the overall mix of guidance that firms provide.
TEACHING EXPERIENCE
Lab Instructor
Corporate Financial Accounting for M.B.A Students
Average Lab Instructor Evaluation Score: 4.18 out of 5.00
Winter, Fall 2014
Teaching Assistant
Financial Statement Analysis (MBA) 2013-2015; Managerial Accounting (Executive MBA) 2014-2015; Intermediate
Financial Reporting (MBA) 2012-2014; Corporate Finance (MBA) 2013-2014; Capital Budgeting and Corporate
Objectives (MBA) 2013-2014; Positive Accounting Research (Masters of Accounting) 2014; and Corporate Financial
Accounting (MBA) 2013.
PROFESSIONAL EXPERIENCE
Bethel Church, Accountant
Deloitte, Audit
2008 - 2011
2007 – 2008
HONORS AND AWARDS
AAA Representative to the European Accounting Association (EAA) Doctoral Colloquium
Provost Fellowship, University of Rochester
April 2015
2011-2016
CONFERENCE PRESENTATIONS
EAA Doctoral Colloquium
AAA Annual Meeting: Discussant
CONFERENCE PARTICIPATION
JAE Conference
EAA Annual Congress
AAA Annual Meeting
April 2015
August 2014
2012, 2015
2015
2014, 2015