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Stewart Jones

Photo of Stewart Jones

Ph.D., FCPA.
Professor and Head of Discipline

Rm 302
H69 - Codrington Building
The University of Sydney
NSW 2006 Australia

Telephone +61 2 9351 7755
Fax +61 2 9351 6638
stewart.jones@sydney.edu.au

Bio

Stewart Jones' specialist area in research is corporate financial reporting. Over the past decade he has published over 100 scholarly research pieces in financial reporting/accounting, including nearly sixty refereed articles, ten books, and numerous book chapters, working papers and short monographs. Stewart's most recent books are "Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction" published by the Cambridge University Press (UK) and the third edition of "Financial Accounting Theory" published by Cengage Learning, Sydney. Stewart's research interests cover such topics as credit risk and corporate distress analysis, accounting theory, standard setting, international standards harmonization, financial analysis and research methodology (with a particular interest in discrete choice modelling and stated preference experiments). He has been very successful in acquiring numerous research grants from competitive grant schemes, including five Large ARC grants over the past four years, totalling more than $2M. Stewart is currently Editor-in-Chief of the prestigious international quarterly, Abacus. Stewart's industry experience includes the interpretation of accounting standards; financial analysis and regulation; credit risk modelling and corporate performance analysis.

Selected publications

2018

Journal Articles

Beck C, Frost G, and Jones S (2018) CSR disclosure and financial performance revisited: A cross-country analysis Australian Journal of Management, In Press. [More Information]

Cheng C, Jones S, and Moser W (2018) Abnormal trading behavior of specific types of shareholders before U.S. firm bankruptcy and its implications for firm bankruptcy prediction Journal of Business Finance and Accounting, In Press. [More Information]

Jones S (2018) Editorial: Special Issue on Earnings Management Abacus, 54 (2), 133-135. [More Information]

Jones S, and Wright C (2018) Fashion or Future: Does Creating Shared Value Pay? Accounting and Finance, In Press. [More Information]

2017

Journal Articles

Jones S (2017) Current Issues and Controversies in Real Estate Finance Abacus, 53 (3), 299-303. [More Information]

Jones S (2017) Corporate bankruptcy prediction: a high dimensional analysis Review of Accounting Studies, 22 (3), 1366-1422. [More Information]

Jones S, Baker M, and Lay B (2017) The Relationship between CSR and Tax Avoidance: An International Perspective Australian Tax Forum, 32, 95-127.

Jones S, Johnstone D, and Wilson R (2017) Predicting Corporate Bankruptcy: An Evaluation of Alternative Statistical Models Journal of Business Finance and Accounting, 44 (1-2), 3-34. [More Information]

Report

Jones S, and Frost G (2017) Sustainability Information and the Cost of Capital - An Australian, United Kingdom and Hong Kong Listed Company Study; CPA Australia, Southbank, Victoria, 3-26.

2016

Journal Articles

Jones S (2016) A Cash Flow Based Model of Corporate Bankruptcy in Australia Journal of Applied Management Accounting Research, 14 (1), 23-37.

Jones S (2016) Accounting in China (editorial) Abacus, 52 (3), 343-350. [More Information]

Jones S (2016) Current issues in CEO compensation Abacus, 52 (4), 611-618. [More Information]

Report

Beck C, Frost G, Jones S, and Andreeva Z (2016) Carbon Reporting: Regulatory and Voluntary Disclosures; CPA Australia, Melbourne, 4-41.

2015

Journal Articles

Jones S (2015) Abacus: The First 50 Years Abacus, 51 (4), 485-498. [More Information]

Jones S, and Wells M (2015) Accounting Research: Where Now? Abacus, 51 (4), 572-586. [More Information]

Jones S, Johnstone D, and Wilson R (2015) An Empirical Evaluation of the Performance of Binary Classifiers in the Prediction of Credit Ratings Changes Journal of Banking & Finance, 56, 72-85. [More Information]

Book

Jones S (2015) The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon.

Book Chapters

Dempsey M, and Jones S (2015) Financial measurement and financial markets The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon, 438-451.

Frost G, and Jones S (2015) Corporate sustainability reporting: Theory and practice The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon, 514-535.

Jones S (2015) Development of financial accounting theory The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon, 1-11.

Jones S, and Aiken M (2015) Evolution of early practice descriptive theory in accounting The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon, 91-109.

Peat M, and Jones S (2015) Detecting Changing Financial Relationships: A Self Organising Map Approach Enterprise Applications and Services in the Finance Industry; Springer, Cham, 1-12. [More Information]

Ratnatunga J, and Jones S (2015) Accounting for the carbon challenge The Routledge Companion to Financial Accounting Theory; Routledge, Abingdon, 492-513.

2014

Journal Articles

Frino A, Jones S, Lepone A, and Wong J (2014) Market Behavior of Institutional Investors around Bankruptcy Announcements Journal of Business Finance and Accounting, 41 (1-2), 270-295. [More Information]

Jones S, and Peat M (2014) Predicting Corporate Bankruptcy Risk in Australia: A Latent Class Analysis Journal of Applied Management Accounting Research, 12 (1), 13-25.

2013

Journal Article

Johnstone D, Jones S, Jose V, and Peat M (2013) Measures of the Economic Value of Probabilities of Bankruptcy Journal of the Royal Statistical Society Series A-Statistics in Society, 176 (3), 635-653. [More Information]

Book

Frost G, Jones S, and Lee P (2013) The Reality and the Rhetoric: Organisational Sustainability Reporting; Sydney University Press, Sydney, Australia.

Report

Beck C, Frost G, and Jones S (2013) Sustainability Reporting: Practices, performance and potential; CPA Australia, Melbourne, 4-29.

2012

Journal Articles

Jones S (2012) Announcement of the Winners of the 2011 Abacus Manuscript Award Abacus, 48 (4), i-i. [More Information]

Jones S (2012) A review of "Management accounting system (MAS) change: field evidence" by Zoni, Dossi and Morelli Asia-Pacific Journal of Accounting and Economics, 19 (1), 139-142. [More Information]

Jones S (2012) The practical relevance of management accounting research published in Abacus Qualitative Research in Accounting and Management, 9 (3), 286-290. [More Information]

Jones S, and Johnstone D (2012) Analyst Recommendations, Earnings Forecasts and Corporate Bankruptcy: Recent Evidence Journal of Behavioral Finance, 13 (4), 281-298. [More Information]

Jones S, Hensher D, Rose J, and Walker R (2012) Infrastructure Asset Reporting Options: A Stated Preference Experiment Accounting Horizons, 26 (3), 465-491. [More Information]

Peat M, and Jones S (2012) Using Neural Nets to Combine Information Sets in Corporate Bankruptcy Prediction Intelligent Systems in Accounting, Finance and Management, 19 (2), 90-101. [More Information]

Walker R, and Jones S (2012) Reporting on Infrastructure in Australia: Practices and Management Preferences Abacus, 48 (3), 387-413. [More Information]

Book

Jones S, and Ratnatunga J (2012) Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK.

Book Chapters

Frost G, Jones S, and Lee P (2012) The Measurement and Reporting of Sustainability Information within the Organisation: A Case Analysis Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK, 197-225.

Jones S (2012) Sustainability Reporting and Assurance: State of Practice Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK, 1-9.

Ratnatunga J, and Jones S (2012) A Methodology to Rank the Quality and Comprehensiveness of Sustainability Information Provided in Publicly Listed Company Reports Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK, 227-266.

Ratnatunga J, and Jones S (2012) An Inconvenient Truth about Accounting: The Paradigm Shift Required in Carbon Emissions Reporting and Assurance Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK, 71-113.

Ratnatunga J, Wahyuni D, and Jones S (2012) The Carbon Economy and Emissions Reporting Contemporary Issues in Sustainability Accounting, Assurance and Reporting; Emerald Group Publishing, Bingley, UK, 153-182.

Report

Frost G, Jones S, and Lee P (2012) The Collection, Integration and Reporting of Sustainability Information within an Organisation: State of Practice; CPA Australia, Melbourne, 5-73.

2011

Journal Articles

Jones S (2011) Current Issues in Public Sector Consolidated Financial Reporting Abacus, 47 (4), i-iii. [More Information]

Jones S (2011) Does the Capitalization of Intangible Assets Increase the Predictability of Corporate Failure Accounting Horizons, 25 (1), 41-70. [More Information]

Jones S, and Finley A (2011) Have IFRS made a difference to intra-country financial reporting diversity? The British Accounting Review, 43 (1), 22-38. [More Information]

Ratnatunga J, Jones S, and Balachandra K (2011) The Valuation and Reporting of Organizational Capability in Carbon Emissions Management Accounting Horizons, 25 (1), 127-147. [More Information]

Newspaper Article

Jones S (2011) The Accounting Delusion: Faith and Trust in Financial Reporting On Target, The Institute of Certified Management Accountants March.

2010

Journal Articles

Jones S (2010) The Contribution of Graeme W. Dean to Abacus: Editorial Abacus, 46 (4), i-iii. [More Information]

Sharma R, and Jones S (2010) CFO of the Future: Strategic Contributor or Value Adder? Journal of Applied Management Accounting Research, 8 (1), 1-16.

Book

Jones S, and Riahi-Belkaoui A (2010) Financial Accounting Theory: 3rd Edition; Cengage Learning Australia, Australia.

2009

Journal Articles

Jones S (2009) Abacus: A 45 Year Perspective - Editorial Abacus, 45 (4), i-xiv. [More Information]

Jones S, and Dean G (2009) Whither in Intangibles Research?: Forum Editorial Abacus, 45 (3), i-viii. [More Information]

Seminar Papers

Jones S (2009) Credit Risk and Corporate Bankruptcy Prediction: State of Practice Risk Australia Conference 2009, Australia.

Jones S, and Finley A (2009) Have IFRSs Made a Difference to Intra-Country Financial Reporting Diversity? Some Preliminary Evidence American Accounting Association Annual Meeting and 2nd Conference on Teaching and Learning in Accounting CTLA 2009; American Accounting Association, Unted States.

Jones S, Hensher D, Rose J, and Walker R (2009) Infrastructure Asset Reporting Options: A Stated Preference Experiment American Accounting Association Annual Meeting and 2nd Conference on Teaching and Learning in Accounting CTLA 2009; American Accounting Association, Unted States.

2008

Journal Articles

Dean G, and Jones S (2008) Changes to the Submission Process and the Board Structure - Editorial Abacus, 44 (1), i-v.

Jones S, Van Der Laan S, Frost G, and Loftus J (2008) The Investment Performance of Socially Responsible Investment Funds in Australia Journal of Business Ethics, 80 (2), 181-203. [More Information]

Book

Jones S, and Hensher D (2008) Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK.

Book Chapters

Hensher D, and Jones S (2008) Mixed logit and error component models of corporate insolvency and bankruptcy risk Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 44-79.

Jones S, and Hensher D (2008) An evaluation of open- and closed-form distress prediction models: The nested logit and latent class models Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 80-113.

Jones S, and Hensher D (2008) Advances in the modelling of credit risk and corporate bankruptcy: Introduction Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 1-13. [More Information]

Jones S, and Peat M (2008) Credit derivatives: Current practices and controversies Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 207-241.

Jones S, and Walker R (2008) Local government distress in Australia: A latent class regression analysis Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 242-268.

Srivastava R, and Jones S (2008) A belief-function perspective to credit risk assessments Advances in Credit Risk Modelling and Corporate Bankruptcy Prediction; Cambridge University Press, Cambridge UK, 269-294.

Seminar Papers

Jones S, and Walker R (2008) Infrastructure Asset Reporting in Australia: Current Practices and Future Directions American Accounting Association Annual Meeting and 1st Conference on Teaching and Learning in Accounting CTLA 2008; American Accounting Association, United States.

Ratnatunga J, and Jones S (2008) An Inconvenient Truth about Accounting: The Paradigm Shift Required in Carbon Emissions Reporting and Assurance American Accounting Association Annual Meeting and 1st Conference on Teaching and Learning in Accounting CTLA 2008; American Accounting Association, United States.

2007

Journal Articles

Frino A, Jones S, and Wong J (2007) Market behaviour around bankruptcy announcements: evidence from the Australian Stock Exchange Accounting and Finance, 47 (4), 713-730. [More Information]

Hensher D, and Jones S (2007) Forecasting Corporate Bankruptcy: Optimizing the Performance of the Mixed Logit Model Abacus, 43 (3), 241-264. [More Information]

Hensher D, Jones S, and Greene W (2007) An Error Component Logit Analysis of Corporate Bankruptcy and Insolvency Risk in Australia Economic Record, 83 (260), 86-103. [More Information]

Jones S, and Hensher D (2007) Evaluating the Behavioural Performance of Alternative Logit Models: An Application to Corporate Takeovers Research Journal of Business Finance and Accounting, 34 (7/8), 1193-1220. [More Information]

Jones S, and Hensher D (2007) Modelling corporate failure: A multinomial nested logit analysis for unordered outcomes The British Accounting Review, 39 (1), 89-107. [More Information]

Jones S, and Walker R (2007) Explanators of Local Government Distress Abacus, 43 (3), 396-418. [More Information]

Jones S, Frost G, Loftus J, and Van Der Laan S (2007) An Empirical Examination of the Market Returns and Financial Performance of Entities Engaged in Sustainability Reporting Australian Accounting Review, 17 (1), 78-87.

Seminar Paper

Jones S (2007) A Statistical Model of Local Government Distress American Accounting Association Annual Meeting AAA 2007; American Accounting Association, United States.

2006

Journal Articles

Jones S (2006) Discussion of Garcia Lara, Garcia Osma and Gill de Albornoz Noguer Abacus, 42 (3/4), 455-460. [More Information]

Jones S (2006) Discussion of García Lara, García Osma and Gill de Albornoz Noguer Abacus, 42 (3/4), 455-460. [More Information]

Jones S, and Higgins A (2006) Australia's switch to international financial reporting standards: a perspective from account preparers Accounting and Finance, 46 (4), 629-652. [More Information]

Sharma R, Jones S, and Ratnatunga J (2006) The relationships among broad scope MAS, managerial control, performance and job relevant information: A concomitant analysis Review of Accounting and Finance, 5 (3), 228-250.

Walker R, and Jones S (2006) An Alternative Approach to Identifying Councils 'at Risk' Economic Papers, 25 (4), 347-357.

Conference Proceedings

Jones S, Frost G, Loftus J, and Van Der Laan S (2006) An Empirical Examination of the Market Returns, Financial Performance and Distress Risk Profiles of Entities Engaged in Sustainability Disclosure 29th Annual Congress of the European Accounting Association EAA 2006; European Accounting Association, Ireland.

Jones S, Van Der Laan S, Frost G, and Loftus J (2006) The Investment Performance of Ethical Funds in Australia 29th Annual Congress of the European Accounting Association EAA 2006; European Accounting Association, Ireland.

Seminar Papers

Jones S, and Hensher D (2006) The relevance of advanced choice modelling in accounting research American Accounting Association Annual Meeting AAA 2006; American Accounting Association, United States.

Jones S, and Hensher D (2006) Towards an improved framework for predicting corporate failure: A comparison of open vs closed form discrete choice models Accounting and Finance Association of Australia and New Zealand Conference (AFAANZ) 2006; John Wiley & Sons, online.

Jones S, and Higgins A (2006) Australia's adoption of international accounting standards: A perspective from the business community American Accounting Association Annual Meeting AAA 2006; American Accounting Association, United States.

Jones S, Van Der Laan S, Frost G, and Loftus J (2006) The Investment Performance of Ethical Funds in Australia Accounting and Finance Association of Australia and New Zealand Conference (AFAANZ) 2006; John Wiley & Sons, online.

2005

Journal Articles

Frino A, and Jones S (2005) The Impact of Mandated Cash Flow Disclosure on Bid-Ask Spreads Journal of Business Finance and Accounting, 32 (7-8), 1373-1396. [More Information]

Frost G, Jones S, Loftus J, and Van Der Laan S (2005) A Survey of Sustainability Reporting Practices of Australian Reporting Entities Australian Accounting Review, 15 (1), 89-96.

Jones S (2005) Notes of The University of Sydney Pacioli Society: The University of Sydney Pacioli Society Meeting, 22 June 2004 - Sustainability Reporting in Australia: An Empirical Overview Abacus, 41 (2), 211-216. [More Information]

Jones S, and Hensher D (2005) Advanced Probability Modelling and the Prediction of Corporate Bankruptcy Journal of Applied Management Accounting Research, 3 (2), 21-35.

Books

Frost G, Loftus J, Jones S, and Van Der Laan S (2005) Sustainability/Triple bottom line reporting research - Task 5 final report; CPA Australia, Melbourne.

Jones S, Frost G, Loftus J, and Van Der Laan S (2005) Sustainability reporting: Practices, Performance and Potential; CPA Australia, Melbourne.

Conference Proceedings

Jones S, and Hensher D (2005) Modeling Corporate Failure: A Multinomial Nested Logit Analysis for Unordered Outcomes American Accounting Association Annual Meeting AAA 2005; American Accounting Association, USA.

Loftus J, Frost G, Jones S, and Van Der Laan S (2005) A Survey of Sustainability Reporting Practices of Australian Companies International Conference on Environmental, Cultural, Economic and Social Sustainability 2005; Common Ground Publishing, Australia.

Book Chapter

Jones S (2005) Financial analysis: Applications to the Australian toll road entities Handbook of Transport Strategy, Policy and Institutions; Elsevier, Oxford, 325-357.

Reports

Jones S, Frost G, Loftus J, and Van Der Laan S (2005) Sustainability Reporting: Perspectives on Regulatory and Professional Initiatives across the Asia Pacific.

Jones S, Frost G, Loftus J, and Van Der Laan S (2005) Sustainability Reporting: Practices, Performance and Potential.

2004

Journal Articles

Jones S, and Hensher D (2004) Predicting Firm Financial Distress: A Mixed Logit Model The Accounting Review, 79 (4), 1011-1038. [More Information]

Jones S, Rahman S, and Wolnizer P (2004) Accounting Reform In Australia: Contrasting Cases Of Agenda Building Abacus, 40 (3), 379-404.

2003

Journal Articles

Jones S (2003) On the relationship between earnings, cash flows and returns: An Australian postscript to Lev and Zarowin (1999) Review of Accounting and Finance, 2 (1), 73-85.

Jones S, and Wolnizer P (2003) Harmonization and the conceptual framework : an international perspective Abacus, 39 (3), 375-387.

Walker R, and Jones S (2003) Measurement: A way forward Abacus, 39 (3), 356-374.

Recent Units Taught

  • ACCT3013 Financial Statement Analysis

  • MMGT6003 Accounting and Financial Management

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