Profile picture of Steven Matsunaga

Steven Matsunaga

Charles E. Johnson Memorial Professor of Accounting

Affiliations: Accounting, Cameron Center for Finance and Securities Analysis, Master of Accounting, Master of Science in Finance, Oregon MBA, Undergraduate Programs
Phone: 541-346-3340
Office: Lillis 375



Steven Matsunaga is the Charles E. Johnson Memorial Professor of Accounting at the Lundquist College of Business. His expertise includes corporate governance and managerial incentives. His teaching interests include introductory and intermediate financial accounting. His research has been published in The Accounting Review, Strategic Management Journal, the Journal of Accounting Research, and Journal of Accounting and Economics.

Matsunaga received his PhD from the University of Washington. Prior to his academic career, Matsunaga was a senior accountant at Deloitte Haskins and Sells in San Francisco. He also received the Competitive Manuscript Award from the American Accounting Association and American Taxation Association twice.

Degree History:
  • PhD, University of Washington, 1992
  • MBA, College of William and Mary, 1984
  • BA, San Francisco State University, 1979
Honors and Awards:
  • Outstanding Manuscript Award (for "Disqualifying Dispositions of Incentive Stock Options: Tax Benefits vs. Financial Reporting Costs," with Terry Shevlin and D. Shores), American Taxation Association, 1995
  • Competitive Manuscript Award (for "The Effects of Financial Reporting Costs on the Use of Employee Stock Options,"), American Accounting Association, 1994

Back to Top

Areas of Expertise

  • Corporate governance
  • Managerial incentives
  • Financial disclosure

Back to Top


Journal Articles:

Huang, Jing, Steven Matsunaga, and Z. Jay Wang. "The Role of Pension Business Benefits in Institutional Block Ownership and Corporate Governance." Contemporary Accounting Research 37, no. 4: 1959-1989.

December 2020

Matsunaga, Steven, David Guenther, and Brian Williams. "Is Tax Avoidance Related to Firm Risk?" The Accounting Review 92, no. 1: 115-136.

January 2017

Hui, Kai Wai, and Steven R. Matsunaga. "Are CEOs and CFOs Rewarded for Disclosure Quality?" The Accounting Review 90, no. 3: 1013-1047.

May 2015

Lee, Sam, Steven R. Matsunaga, and Chul W. Park. "Management Forecast Accuracy and CEO Turnover." The Accounting Review 87, no. 6: 2095-2122.

November 2012

Gore, Angela K., Steven Matsunaga, and P. Eric Yeung. "The Role of Technical Expertise in Firm Governance Structure: Evidence from Chief Financial Officer Contractual Incentives." Strategic Management Journal 32, no. 7: 771-786.

July 2011

Hui, Kai Wai, Steven Matsunaga, and Dale Morse. "The Impact of Conservatism on Management Quantitative Earnings Forecasts." Journal of Accounting and Economics 47, no. 3: 192-207.

June 2009

Jagolinzer, Alan D., Steven R. Matsunaga, and P. Eric Yeung. "An Analysis of Insiders' Use of Prepaid Variable Forward Transactions." Journal of Accounting Research 45, no. 4: 1055-1079.

December 2007

Matsunaga, Steven R., and Chul W. Park. "The Effect of Missing a Quarterly Earnings Benchmark on the CEO’s Annual Bonus." The Accounting Review 76, no. 3: 313-332.

July 2001

Hemmer, Thomas, Steven Matsunaga, and Terry Shevlin. "Reload Employee Stock Option Plans: Incentive Alignment of Rent Extraction." Journal of Accounting, Auditing and Finance 15, no. 4: 393-423.

October 2000

Hemmer, Thomas, Steven Matsunaga, and Terry Shevlin. "Optimal Exercise and the Cost of Granting Employee Stock options with a Reload Provision." Journal of Accounting Research 36, no. 2: 231-255.

October 1998

Hemmer, Thomas, Steven Matsunaga, and Terry Shevlin. "The Influence of Risk Diversification on the Early Exercise of Employee Stock Options by Executive Officers." Journal of Accounting and Economics 21, no. 1: 45-68.

February 1996

Matsunaga, Steven R. "The Effects of Financial Reporting Costs on the Use of Employee Stock Options." The Accounting Review 70, no. 1: 1-26.

January 1995

Matsunaga, Steven, Terry Shevlin, and D. Shores. "Disqualifying Dispositions of Incentive Stock Options: Tax Benefits vs. Financial Reporting Costs." Journal of Accounting Research Supplement 30: 37-68.

January 1992

In the News

Associate professor of accounting Kyle Peterson was named the Stewart Distinguished Professor for 2019, one of the college's top honors.

Incredible student accomplishments, outstanding faculty research, a major gift from alumni, and more.

A new study from the Lundquist College of Business accounting department found that, in most cases, the assumption that low taxes equal risky choices isn't consistent with the evidence.

The Lundquist College's end-of-year ceremonies honored retiring faculty and staff as well as bestowed awards for service, teaching, and research.
Associate professor of accounting Ryan Wilson is the Thomas C. Stewart Distinguished Professor for 2015.
They called themselves the Dream Team. Four senior accounting majors headed north to compete in the KPMG Financial Accounting Case Competition at Seattle University.
Even in the quietest weeks of December, many of our students are busy taking advantage of global opportunities and literally building a better future for those who come next.
One of our biggest summer successes was certainly the relaunch of the University of Oregon-Nyenrode Business Universiteit partnership.