marc picconi

Marc Picconi, Ph.D.

Associate Professor


Program: Online MAcc

Ph.D., Accounting, Cornell University
BS, Electrical Engineering, Stanford University
Expertise: Pension accounting, earnings management, audit fees

Dr. Marc Picconi served in the U.S. Navy for six years as a submarine officer and instructor in leadership training. Prior to joining William & Mary, he taught for seven years at Indiana University’s Kelley School of Business.

Dr. Picconi’s research explores how investors and analysts process accounting information, particularly in the areas of pensions and audit fees. His work has been published in top journals in the field of accounting and finance, including The Accounting Review, The Journal of Finance, Contemporary Accounting Research, and Issues in Accounting Education. His paper, “The Perils of Pensions: Does Pension Accounting Lead Analysts Astray?”, won the prestigious American Accounting Association Competitive Manuscript Award in 2005 and he has presented his work at numerous conferences and top business schools.

Dr. Picconi teaches financial accounting at the undergraduate and master’s level and received the 2008 Indiana University Trustee Teaching Award and Dean’s recognition for excellence in teaching at Indiana University. He strives to incorporate real-world examples and case studies, current financial statements and cutting-edge research into his rigorous courses to thoroughly prepare students for a career in accounting.

Dr. Picconi serves on the Mason School Research Committee, the William & Mary Assessment Steering Committee responsible for college-wide accreditation and is a member of the Accounting Department Executive Committee.

He and his wife, Jane, an alumna of William & Mary (’95), have seven beautiful children and love living in Williamsburg.


  • “The Perils of Pensions: Does Pension Accounting Lead Investors and Analysts Astray?”, The Accounting Review, July 2006, Vol. 84, No. 4: 925-955. Winner of the 2005 American Accounting Association Competitive Manuscript Award
  • “Making Sense of Cents: An Examination of Firms that Marginally Miss or Beat Analyst Forecasts,” (with Sanjeev Bhojraj, Paul Hribar and John McInnis), The Journal of Finance, October 2009, Vol. 64, No. 5: 2361-2388
  • “Implications of Insufficient and Excess Cash for Future Performance,” (with Derek Oler), Forthcoming in Contemporary Accounting Research
  • “Arborista, Inc.: An Instructional Resource Case,” (with Kim Smith and Alex Woods), Issues in Accounting Education, August 2013, Vol. 28, No. 3: 681-690
  • “Implications of Cash-Hoarding for Shareholders,” (with Derek Oler), Advances in Financial Economics, Vol. 13, edited by M. Hirschey, K. John, and A.K. Makhija, 35-52. UK: Emerald Group Publishing Limited 2009

Working Papers

  • “Do Auditors Know More than the Market?” (with Kenny Reynolds), Under second round review at The Review of Accounting Studies
  • “Audit Fee Theory and Estimation: A Consideration of the Log-Log Audit Fee Model,” (with Kenny Reynolds), Revising for submission to The Journal of Accounting Research
  • “The Information Content of Audit Fee Disclosure Lags for Auditors and Investors,” (with Jamie Diaz and Kenny Reynolds), Preparing for submission to The Accounting Review