Skip to main content
Official Logo of Columbia Business School
Academics
  • Visit Academics
  • Degree Programs
  • Admissions
  • Tuition & Financial Aid
  • Campus Life
  • Career Management
Faculty & Research
  • Visit Faculty & Research
  • Academic Divisions
  • Search the Directory
  • Research
  • Faculty Resources
  • Teaching Excellence
Executive Education
  • Visit Executive Education
  • For Organizations
  • For Individuals
  • Program Finder
  • Online Programs
  • Certificates
About Us
  • Visit About Us
  • CBS Directory
  • Events Calendar
  • Leadership
  • Our History
  • The CBS Experience
  • Newsroom
Alumni
  • Visit Alumni
  • Update Your Information
  • Lifetime Network
  • Alumni Benefits
  • Alumni Career Management
  • Women's Circle
  • Alumni Clubs
Insights
  • Visit Insights
  • Digital Future
  • Climate
  • Business & Society
  • Entrepreneurship
  • 21st Century Finance
  • Magazine

Breadcrumb

  1. Directory
  2. Faculty
  3. Trevor Harris

Trevor Harris

Arthur J. Samberg Professor Emeritus of Professional Practice
Accounting Division
Trevor Harris
Areas of Expertise
Financial Accounting & Auditing
Contact
Office: 333 Kravis
Phone: (212) 8511802
E-mail: [email protected]

Professor Harris' research and practical experience has covered most areas of the use of accounting information for valuation, investment and management decisions, with a particular focus on global aspects and financial institutions.

He originally joined the Columbia Business School faculty in 1983, and was the Jerome A. Chazen Professor of International Business, Director of the Chazen Institute of International Business and Chair of the Accounting Department, prior to joining Morgan Stanley as a Managing Director and Head of the Global Valuation and Accounting Team in 2000.  He rejoined the faculty of Columbia Business School in July 2008 and was appointed as The Arthur J. Samberg Professor of Professional Practice. He was co-Director of Columbia's Center for Excellence in Accounting and Security Analysis, which he founded.

He has taught core and elective courses and created three new courses at the business school. He was a President’s Teaching Award Finalist in 1997, 2011 and 2013, the recipient of the Margaret Chandler Award for Commitment to Excellence in teaching EMBA class of 1998, 2001, 2011, 2019 and 2020, the Dean’s Award for Innovation in the Curriculum in 2011, the Chazen Institute Prize for Innovation in Teaching, 1996, and the Singhvi Prize for Excellence in Teaching, 1985. He also was a visiting associate Professor at University of Chicago in 1987-88. He has published widely on valuation and accounting issues, in both academic and practitioner journals, and has written many cases for classroom use.

Through September 2008, Professor Harris was a Managing Director and Vice Chairman at Morgan Stanley, working on special projects for Firm Management in all business areas. He was a Senior Advisor to Morgan Stanley from 2008 - 2010. In his time in Equity Research he was the primary author of the Apples-to-Apples research series focusing on global sector valuations and earnings quality issues, and led the creation and initial development of Morgan Stanley's ModelWare project and its Risk-Reward valuation application, that is still used in its published research and has become common practice in sell side research across Wall Street. He wrote extensively on earnings quality, company-specific investment ideas and global pension and retiree benefit issues.

In 2002 he was named to Institutional Investor’s All American Research Team and in 2003 to Wall Street Journal’s SmartMoney Power 30 (the most influential people on Wall Street). He also worked with corporate and investor clients on disclosure and valuation issues, and capital raising situations. Working with senior management, he was responsible for developing strategic solutions including running global strategy offsites, and enhancing the management information systems of the firm. He also co-led a team that developed an innovative personal planning tool for retail clients.

He was a member of the Investors Advisory Committee and of the Users' Advisory Council to the Financial Accounting Standards Board. He has also served on the Office of Financial Research’s Research Advisory Committee, on the Standards Advisory Council to the International Accounting Standards Board, and as a member of the International Capital Markets Advisory Committee at the New York Stock Exchange until its dissolution. He is a board member of a FDIC registered U.S. bank and several early-stage companies and served on the board of a NASDAQ listed medical device company and on the investment committee of a charity’s foundation. 

Professor Harris has also provided advice on equity research, international accounting (including foreign exchange impacts), controllership, performance measurement, valuation and investor relations issues to many large banks, international corporations, organizations and senior executives.

Education
BComm (Hons.), University of Cape Town, 1976; MComm, 1980; PhD, University of Washington, 1983.
Joined CBS
1983

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Harris, Trevor and Shivaram Rajgopal
. “Foreign Currency: Accounting, Communication and Management of Risks.”
Foundations and Trends in Accounting
vol.
16
, (January 01, 2022):
184
-
307
.
Explore Further about Foreign Currency: Accounting, Communication and Management of Risks
Journal Article
Harris, Trevor, Urooj Khan , and Doron Nissim
. “The expected rate of credit losses on banks' loan portfolios.”
The Accounting Review
vol.
93
, (January 01, 2018):
245
-
271
.
Explore Further about The expected rate of credit losses on banks' loan portfolios
Journal Article
Harris, Trevor
. “Discussion of 'The robustness of the Sarbanes Oxley effect on the U.S. capital market'.”
Review of Accounting Studies
vol.
14
, (September 01, 2009):
440
-
452
.
Explore Further about Discussion of 'The robustness of the Sarbanes Oxley effect on the U.S. capital market'
Journal Article
Harris, Trevor
. “Enterprise Valuation Roundtable.”
Journal of Applied Corporate Finance
vol.
19
, (January 01, 2007):
8
-
37
.
Explore Further about Enterprise Valuation Roundtable
Journal Article
Harris, Trevor
. “FMA Roundtable on Stock Market Pricing and Value-Based Management.”
Journal of Applied Corporate Finance
vol.
18
, (January 01, 2006):
56
-
81
.
Explore Further about FMA Roundtable on Stock Market Pricing and Value-Based Management
Journal Article
Harris, Trevor
. “From Stock Selection to Portfolio Alpha Generation: The Role of Fundamental Analysis.”
Journal of Applied Corporate Finance
vol.
18
, (January 01, 2006):
54
-
81
.
Explore Further about From Stock Selection to Portfolio Alpha Generation: The Role of Fundamental Analysis
Journal Article
Hubbard, R. Glenn and Trevor Harris
. “Are Dividend Taxes and Imputation Credits Capitalized in Share Values?”
Journal of Public Economics
vol.
79
, (March 01, 2001):
569
-
96
.
Explore Further about Are Dividend Taxes and Imputation Credits Capitalized in Share Values?
Download PDF on Are Dividend Taxes and Imputation Credits Capitalized in Share Values?
Journal Article
Harris, Trevor and R. Glenn Hubbard
. “The Share Price Effects of Dividend Taxes and Tax Imputation Credits.”
Journal of Public Economics
vol.
79
, (March 01, 2001):
569
-
596
.
Explore Further about The Share Price Effects of Dividend Taxes and Tax Imputation Credits
Journal Article
Harris, Trevor and Deen Kemsley
. “Dividend Taxation in Firm Valuation: New Evidence.”
Journal of Accounting Research
vol.
37
, (January 01, 1999):
275
-
2921
.
Explore Further about Dividend Taxation in Firm Valuation: New Evidence
Journal Article
Harris, Trevor
. “An Argument Against Hedging by Matching the Currencies of Costs and Revenues.”
Journal of Applied Corporate Finance
vol.
9
, (January 01, 1996):
90
-
97
.
Explore Further about An Argument Against Hedging by Matching the Currencies of Costs and Revenues
Journal Article
Hall, Charles, Yasushi Hamao, and Trevor Harris
. “A Comparison of Relations Between Security Market Prices, Returns and Accounting Measures in Japan and the United States.”
Journal of International Financial Management and Accounting
vol.
5
, (February 01, 1994):
47
-
73
.
Explore Further about A Comparison of Relations Between Security Market Prices, Returns and Accounting Measures in Japan and the United States
Journal Article
Harris, Trevor, M. Lang, and H. P. Möller
. “The Value Relevance of German Accounting Measures: An Empirical Analysis.”
Journal of Accounting Research
vol.
32
, (January 01, 1994):
187
-
209
.
Explore Further about The Value Relevance of German Accounting Measures: An Empirical Analysis
Journal Article
Easton, Peter, Peter Eddey, and Trevor Harris
. “An Investigation of Revaluations of Tangible Long-Lived Assets.”
Journal of Accounting Research
vol.
31
, (January 01, 1993):
1
-
38
.
Explore Further about An Investigation of Revaluations of Tangible Long-Lived Assets
Journal Article
Harris, Trevor and E. Venuti
. “A Comparison of the Value-Relevance of U.S. versus Non-U.S. GAAP Accounting Measures Using Form 20-F Reconciliations.”
Journal of Accounting Research
vol.
31
, (January 01, 1993):
230
-
264
.
Explore Further about A Comparison of the Value-Relevance of U.S. versus Non-U.S. GAAP Accounting Measures Using Form 20-F Reconciliations
Journal Article
Harris, Trevor and P. M. Fairfield
. “Price-Earnings and Price-to-Book Anomalies: Tests of an Intrinsic Value Explanation.”
Contemporary Accounting Research
vol.
9
, (January 01, 1993):
590
-
611
.
Explore Further about Price-Earnings and Price-to-Book Anomalies: Tests of an Intrinsic Value Explanation
Download PDF on Price-Earnings and Price-to-Book Anomalies: Tests of an Intrinsic Value Explanation
Journal Article
Easton, Peter, Trevor Harris , and James A. Ohlson
. “Aggregate Accounting Earnings Can Explain Most of Security Returns: The Case of Long Return Intervals.”
Journal of Accounting and Economics
vol.
15
, (January 01, 1992):
119
-
42
.
Explore Further about Aggregate Accounting Earnings Can Explain Most of Security Returns: The Case of Long Return Intervals
Journal Article
Easton, Peter D. and Trevor Harris
. “Earnings as an Explanatory Variable for Returns.”
Journal of Accounting Research
vol.
29
, (January 01, 1991):
19
-
36
.
Explore Further about Earnings as an Explanatory Variable for Returns
Journal Article
Darrough, M. and Trevor Harris
. “Do Management Forecasts of Earnings Affect Stock Prices in Japan?”
Journal of Accounting, Auditing and Finance
vol.
6
, (January 01, 1991):
119
-
54
.
Explore Further about Do Management Forecasts of Earnings Affect Stock Prices in Japan?
Journal Article
Harris, Trevor and James A. Ohlson
. “Accounting Disclosures and the Market's Valuation of Oil and Gas Properties: Evaluation of Market Efficiency and Functional Fixation.”
The Accounting Review
vol.
65
, (October 01, 1990):
764
-
780
.
Explore Further about Accounting Disclosures and the Market's Valuation of Oil and Gas Properties: Evaluation of Market Efficiency and Functional Fixation
Journal Article
Balakrishnan, Ramji, Trevor Harris , and Pradyot K. Sen
. “The Predictive Ability of Geographic Segment Disclosures.”
Journal of Accounting Research
vol.
28
, (January 01, 1990):
305
-
25
.
Explore Further about The Predictive Ability of Geographic Segment Disclosures
Journal Article
Adler, Michael and Trevor Harris
. “Inflation, Translation and Conflicts in Statements of Financial Accounting Standards.”
Journal of International Financial Management and Accounting
vol.
1
, (June 01, 1989):
152
-
70
.
Explore Further about Inflation, Translation and Conflicts in Statements of Financial Accounting Standards
Working Paper
Harris, Trevor, Nahum Melumad, and Toshi Shibano
. Matching Currency Footprints: An Alternative Perspective. January 01, 2009.
Explore Further about Matching Currency Footprints: An Alternative Perspective
Working Paper
Harris, Trevor
. Matching Currency Footprints: An Alternative Perspective. January 01, 2005.
Explore Further about Matching Currency Footprints: An Alternative Perspective
Working Paper
Crockett, Andrew, Trevor Harris , Frederic Mishkin , and Eugene White
. Conflicts of Interest in the Financial Services Industry: What Should We Do About Them?? January 01, 2004.
Explore Further about Conflicts of Interest in the Financial Services Industry: What Should We Do About Them??
Newspaper/Magazine Article
Harris, Trevor and Shivaram Rajgopal
. “Foreign Currency: Accounting, Communication and Management of Risk.”
Center for Excellence in Accounting & Security Analysis
. January 21, 2018.
Explore Further about Foreign Currency: Accounting, Communication and Management of Risk
Download PDF on Foreign Currency: Accounting, Communication and Management of Risk
Book
Crockett, Andrew, Trevor Harris , Frederic Mishkin , and Eugene White
. Conflicts of Interest in the Financial Services Industry: What Should We Do About Them? 
London
:
Centre for Economic Policy Research
, 2004.
Explore Further about Conflicts of Interest in the Financial Services Industry: What Should We Do About Them?
Book
Harris, Trevor
. International Accounting Standards versus U.S.-GAAP: Empirical Evidence Based on Case Studies. 
Cincinnati, Ohio
:
South-Western
, 1995.
Explore Further about International Accounting Standards versus U.S.-GAAP: Empirical Evidence Based on Case Studies
Chapter
Harris, Trevor, Robert Herz , and Doron Nissim
. “Accounting’s Role in the Reporting, Creation, and Avoidance of Systemic Risk in Financial Institutions.” In
The Handbook of Systemic Risk
, edited by
J-P. Fouque and J. Langsam
,
915
-
964
.
Cambridge
:
Cambridge University Press
, 2013.
Explore Further about Accounting’s Role in the Reporting, Creation, and Avoidance of Systemic Risk in Financial Institutions
Chapter
Estridge, Juliet, Trevor Harris , and Doron Nissim
. “Morgan Stanley ModelWare's Approach to Intrinsic Value: Focusing on Risk-Reward Trade-offs.” In
Equity Valuation: Models from Leading Investments
, edited by
Jan Viebig, Thorsten Poddig, and Armin Varmaz
,
193
-
236
.
Chichester, England
:
John Wiley & Sons
, 2009.
Explore Further about Morgan Stanley ModelWare's Approach to Intrinsic Value: Focusing on Risk-Reward Trade-offs
Chapter
Cummins, J., Trevor Harris , and K. Hassett
. “Accounting Standards, Information Flow and Firm Investment Behavior.” In
The Effects of International Taxation on Multinational Corporations
, edited by
M. Feldstein, J. Hines, and G. Hubbard
,
181
-
221
.
Chicago
:
National Bureau of Economic Research
, 1995.
Explore Further about Accounting Standards, Information Flow and Firm Investment Behavior
Download PDF on Accounting Standards, Information Flow and Firm Investment Behavior
Chapter
Cummins, Jason G., Trevor Harris , and Kevin A. Hassett
. “Accounting Standards, Information Flow, and Firm Investment Behavior.” In
The Effects of Taxation on Multinational Corporations
, edited by
Martin Feldstein, James R. Hines Jr., and R. Glenn Hubbard
,
181
-
221
.
Chicago
:
University of Chicago Press
, 1995.
Explore Further about Accounting Standards, Information Flow, and Firm Investment Behavior
Download PDF on Accounting Standards, Information Flow, and Firm Investment Behavior
  • Courses
  • Case Studies
This faculty member has no associated courses currently. Please check back next semester.
Case Study
Harris, Trevor
. What, when, how? A revenue mystery. 
New York
:
Columbia Business School
, 2011.
Explore Further about What, when, how? A revenue mystery
Case Study
Harris, Trevor, Jonah Rockoff , Nachum Sicherman , and Catherine Harris
. Relevant Costs for Making Production Decisions: Was General Motors Making the Correct Choice in Producing High Volumes of Autos? 
Columbia University
:
CaseWorks
, 2011.
Explore Further about Relevant Costs for Making Production Decisions: Was General Motors Making the Correct Choice in Producing High Volumes of Autos?
Case Study
Olivares, Marcelo, Trevor Harris , Omar Besbes , and Gabriel Weintraub
. Lean Operations: From Efficiency to Profit. 
Columbia University
:
CaseWorks
, 2011.
Explore Further about Lean Operations: From Efficiency to Profit
Case Study
Harris, Trevor, Omar Besbes , and Marcelo Olivares
. Lean Operations: From Efficiency to Profits. 
tk
: 2011.
Explore Further about Lean Operations: From Efficiency to Profits
Case Study
Harris, Trevor, Costis Maglaris, Nicolás Stier-Moses, and Paul Glasserman
. Did General Motors Produce to Match Demand? 
Columbia University
:
CaseWorks
, 2011.
Explore Further about Did General Motors Produce to Match Demand?
Case Study
Wolfenzon, Daniel, Trevor Harris , and Andrew Hertzberg
. General Motors: Capital Structure and the Costs of Financial Distress. 
Columbia University
:
CaseWorks
, 2011.
Explore Further about General Motors: Capital Structure and the Costs of Financial Distress
Case Study
Rockoff, Jonah, Trevor Harris , and Nachum Sicherman
. Relevant costs for making production decisions: Was General Motors making the correct choice in producing high volumes of autos? 
New York
:
Columbia Business School
, 2010.
Explore Further about Relevant costs for making production decisions: Was General Motors making the correct choice in producing high volumes of autos?
  • Awards & Honors
  • In the Media
  • Articles
In the Media

Goodwill Accounting Could Go Back to the Future

Bloomberg News
Article

New Metric Makes it Possible to Identify Banks’ Expected Losses Using Public Documents

Read More about New Metric Makes it Possible to Identify Banks’ Expected Losses Using Public Documents
  • CaseWorks
Case ID
112102

What, When, How? A Revenue Mystery

Given GM's use of incentives, how should GM report sales so that the data is a valid indication of performance and can be used to accurately forecast future sales?

View Case on What, When, How? A Revenue Mystery
Case ID
112101

General Motors Capital Structure and the Costs of Financial Distress

What was apparent from GM's capital structure and liquidity prior to GM's declaration of bankruptcy in 2009 that indicated that the company was heading down this path?

View Case on General Motors Capital Structure and the Costs of Financial Distress
Case ID
112103

Relevant Costs for Making Production Decisions: Was General Motors Making the Correct Choice in Producing High Volumes of Autos?

Did GM's management make the wrong business decision in producing the cars they did?

View Case on Relevant Costs for Making Production Decisions: Was General Motors Making the Correct Choice in Producing High Volumes of Autos?
Case ID
112108

Does Size Matter? GM Management's Mandate to Decide

In the political and economic climate of 2003, should GM design and produce small cars or SUVs?

View Case on Does Size Matter? GM Management's Mandate to Decide
Case ID
112107

GM Brands: Too much of a Good Thing?

How should GM revise its multiple brand strategy and refine its portfolio?

View Case on GM Brands: Too much of a Good Thing?
Case ID
112106

GM Strategy, Scope, and the Question of Captive Finance for the New General Motors

Should GM structure its financial services operations as a wholly controlled subsidiary or adapt an arm's length relationship?

View Case on GM Strategy, Scope, and the Question of Captive Finance for the New General Motors
Case ID
112104

Did General Motors Produce to Match Demand?

What does the analysis of the data for the Chevy Cavalier suggest about how well management aligns production and sales?

View Case on Did General Motors Produce to Match Demand?
Case ID
112105

Lean Operations: From Efficiency to Profit

What are the potential implications of broadly implementing the Toyota Production System for GM's production strategy and profitability?

View Case on Lean Operations: From Efficiency to Profit
Case ID
80106

Frequent Flyer

How should an airline account for the "invisible" revenue generated by its frequent-flyer plan?

View Case on Frequent Flyer
Case ID
80105

Coca-Cola

How should a soda maker and its bottlers account for a program that subsidizes the bottlers' purchases of vending machines?

View Case on Coca-Cola
Case ID
80107

Priceline.com

Which part of transactions handled by an Internet middleman should be considered its own revenue?

View Case on Priceline.com

External CSS

Official Logo of Columbia Business School

Columbia University in the City of New York
665 West 130th Street, New York, NY 10027
Tel. 212-854-1100

Maps and Directions
    • Centers & Programs
    • Current Students
    • Corporate
    • Directory
    • Support Us
    • Recruiters & Partners
    • Faculty & Staff
    • Newsroom
    • Careers
    • Contact Us
    • Accessibility
    • Privacy & Policy Statements
Back to Top Upward arrow
TOP

© Columbia University

  • X
  • Instagram
  • Facebook
  • YouTube
  • LinkedIn