Ray Ball is the Sidney Davidson Professor of Accounting at the University of Chicago Graduate School of Business, where he studies corporate disclosure, earnings and stock prices, international accounting, the Australian economy and share market, and market efficiency and investment strategies. He is coauthor of “An Empirical Evaluation of Accounting Income Numbers” (Journal of Accounting Research, 1968), which won the American Accounting Association’s inaugural award for seminal contributions in account literature, and the author of “Anomalies in Relationships between Securities’ Yields and Yield Surrogates” (Journal of Financial Economics, 1978), which was the first academic reference to systematic anomalies in the theory of efficient markets. Mr. Ball is the editor of the Journal of Accounting Research, associate editor of the Journal of Contemporary Accounting and Economics, and a member of the editorial board of the European Accounting Review. Previously, Mr. Ball was the Wesray Professor in Business Administration at the William E. Simon Graduate School of Business Administration at the University of Rochester, and he has also taught at the London Business School, the Australian Graduate School of Management, and the University of Queensland.