Joshua Livnat

Joshua Livnat

Joined Stern 1987

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 10-180
New York, NY 10012

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Joshua Livnat is a Professor Emeritus of Accounting at New York University Stern School of Business. Professor Livnat taught courses in financial and managerial accounting, financial statement analysis, e-commerce and entrepreneurship.

Professor Livnat taught at NYU Stern for 24.5 years, and served as chair of the accounting department for seven years. His primary research areas include capital markets, effects of various accounting disclosures on stock prices, equity valuation, financial statement analysis, and new economy valuation issues. Professor Livnat co-authored the book Cash Flow and Security Analysis. He has been published in many journals including Journal of Portfolio Management, Journal of Accounting Research, Journal of Accounting & Economics, The Accounting Review, Journal of Finance and Financial Analysts Journal. In addition to his work at NYU Stern, Professor Livnat also taught at Vanderbilt University, University of California at Berkley, Northwestern University, and Hebrew University in Israel.

Professor Livnat received his Bachelor of Science from Hebrew University in mathematics and statistics. He received his Master of Philosophy and Doctor of Philosophy from New York University.

Research Interests

  • Financial Accounting
  • Security Analysis
  • Relationship Between Accounting and Security Price
  • Portfolio Management
  • Quantitative Asset Management

Courses Taught

  • Financial and Managerial Accounting
  • Financial Statement Analysis and Auditing

Academic Background

C.P.A., Licensed in the State of, 1986

Ph.D., Accounting & Quantitative, 1978
New York University

M.A., Philosophy, 1978
New York University

B.Sc., Mathematics and Statistic, 1973

Selected Publications

J. Klevak, J. Livnat, D. Pei, & K. Suslava (2021)
A New Uncertainty Measure – CAM
The Journal of Investing, Forthcoming, February

J. Livnat and J. Singh (2021)
Machine Learning Algorithms to Classify Future Returns Using Structured and Unstructured Data
Journal of Investing, Forthcoming

Edmund Bellord, Joshua Livnat, Dan Porter and Martin Tarlie (2019)
Optimal Holdings of Active, Passive and Smart Beta Strategies
Journal of Investment Management, 17:2, 2019.

Roy Henrikkson, Joshua Livnat, Patrick Pfeifer and Margaret Stumpp (2019)
Integrating ESG in Portfolio Construction
Journal of Portfolio Management, pp.67-82.

Julia Klevak, Joshua Livnat and Kate Suslava (2019)
A Practical Approach to Advanced Text Mining in Finance
Journal of Financial Data Science, Winter 2019, 1:1, p.122-129.

W. Jin, J. Livnat, Y. Zhang (2012)
Option Prices Leading Equity Prices: Do Option Traders Have an Information Advantage?
Journal of Accounting Research

R. Battalio, A. Lerman, J. Livnat and R. Mendenhall (2012)
Who, if anyone, reacts to accrual information?
Journal of Accounting and Economics

D. Hollie, J. Livnat and B. Segal (2012)
Earnings Revisions in SEC Filings from Prior Preliminary Earnings Announcements
Journal of Accounting, Auditing and Finance, 27:1, January 2012, pp.3-31.

E. Amir, I. Kama and J. Livnat (2011)
Conditional versus Unconditional Persistence of RNOA Components: Implications for Valuation
Review of Accounting Studies, 2011, 16:2, pp.302-327.

A. Lerman and J. Livnat (2010)
The New Form 8-K Disclosures
Review of Accounting Studies, 2010, 15:4, pp.752-778.

Areas of Expertise


  • Financial Accounting
  • Financial Statement Analysis
  • Valuation