Devin M. Shanthikumar

Devin M. Shanthikumar

Associate Professor

SB2 428    Personal website  


PhD in Finance, Stanford
BS in Electrical Engineering and Computer Science, UC Berkeley
General Management Program, Harvard

Research Interest

CEO Incentives

Child Tax Credit

Effect of Market Sentiment on Firms

Effects of Race and Gender-Related Biases in Financial Markets

Financial Intermediaries (Analysts, Financial Advisors)

Investor Behavior

Investor Use of Social Media, Internet

IRS Attention

New Products and Trademarks

Professor Devin Shanthikumar is an Associate Professor in the Accounting group. She teaches undergraduate, MBA, executive-level and Ph.D. courses, covering topics such as Managerial Accounting, Driving Profitability, and Research Presentations. Prior to joining The Paul Merage School of Business, Shanthikumar served on the faculty at the Harvard Business School (HBS), where she taught both Financial Accounting and Managerial Accounting for MBAs, and wrote cases which are used in accounting courses across the country. She has won multiple awards, and was named to Poet and Quant’s “Best 40 Under 40 Business Professors” list in 2019.

Her research draws on insights from psychology, sociology, finance, and accounting. Her work includes research on the investing decisions of individual investors and the impact that these investors have on the market, the role of financial intermediaries such as analysts, the unique role of the Internet and Social Media in investors’ information acquisition and sentiment, and issues surrounding diversity in the Finance and Accounting fields. She has also conducted research on product innovation.  Her research has been published in top journals, including The Accounting Review, the Journal of Financial Economics, Review of Financial Studies, and Management Science.

Shanthikumar earned her PhD in Business Administration with a focus in Finance from Stanford’s Graduate School of Business, where she received the Jaedicke Merit Award for outstanding academic performance. She earned her BS in Electrical Engineering and Computer Science with Highest Honors from the University of California, Berkeley. Shanthikumar also completed a post-doctoral fellowship at Harvard Business School, and is a graduate of Harvard Business School’s executive education program, the General Manager Program.