Dr. Robert Kemp CPA
Professor, University of Virginia - CC
Member of the Accounting Council
Council Member Biography
Robert Kemp, DBA, CPA, is the Ramon W. Breeden, Senior Research Professor at the McIntire School of Commerce, University of Virginia. His expertise is accounting and finance, with interest in pensions, corporate strategy, and financial institutions. Professor Kemp’ has knowledge regarding pension accounting, pension funding, and the impact of pensions on corporate value.
Dr. Kemp has worked with organizations such as Citibank, J. P. Morgan/Chase, Bank of America, the FDIC, Navigant-Tucker Alan, the AICPA, the Barents Group, KPMG, Ernst & Young, the Russian Bankers Association, the Central Asian American Enterprise Fund, and the Consumer Bankers Association.
His scholarly and practitioner works include over 70 completed projects, including monographs, articles, cases, research presentations, and working papers. His work is published in, among other places, The Financial Review; The Journal of Financial Research; Advances in Accounting, A Research Journal; Benefits Quarterly; The Journal of Mathematics Applied in Business and Industry; The Journal of Accountancy; The Journal of Commercial Bank Lending; The Journal of Bank Accounting and Auditing; and The Journal of Business Economics.
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Employment History
- 1980 - Unspecified
- Professor, University of Virginia - CC
GLG NewsSM Analyses by Robert Kemp(?)
Opinions and analyses expressed in GLG News are solely those of the author. See the Terms of Use for details.
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Reality Impact - Grasping the Cost of Not Acting to Restore Trust in Capital Markets
September 19, 2008
Fed Tentatively Agrees to Provide $85bn to AIG | www.washingtonpost.com
There are significant arguments today on what should or should not be done to address the current capital market crisis. In reality, market economies first and foremost rely on trust. When trust is lacking, the ramifications are significant and far reaching. The mistrust of one sector multiples into problems throughout other sectors. A good example is the impact of capital markets on nonfinancial services businesses. This point is easily seen in the cost of credit, or the lack of credit. However the impact is much greater than mere credit. An example is unfudned pension and other post retirement benefit plans (OPEB). The cost of not restoring trust in the capital markets needs to be understood, in all aspects. The price is high (e.g., government spending and assuming risk) on both sides of the argument. However all costs, on both sides, must be understood and measured before judgements are made.
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Fair Value Accounting - The Good And Bad Of It In The Real World
September 15, 2008
Fair-Value Revolution: Historical cost accounting is fading as Corporate America marches into a new era. | www.cfo.com
Fair value accounting, or mark-to-market accounting, is not new. The debate of how to account for value has been around for decades. However the implications of fair value accounting, versus historical accounting, are far reaching and often not grasped. A society needs to be careful in setting accounting standards that may or may not reflect its cultural values.
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Valuation - The Trick Is In The Fundamentals
August 25, 2008
Kazakh rival lifts ENRC stake to block bid | www.ft.com
To accept or reject an offer to sell all or part of a company is a challenge. There are two issues. First is the maximization of shareholder value. The second is understanding the basis of conflicting valuations.
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Value Creation in Banking: The Key Is Information
April 1, 2008
Top Tier Bonanza In Store For Core Banking Vendors | www.finextra.com
1. Banks create value for shareholders by creating value for customers. Much of that value to customers is embedded in information systems. 2. The business of banking evolves quickly, forcing banks to evolve their competitive strategy and resulting advantage. Information systems are at the heart of this evolution. 3. The recent challenges of risk management will only accentuate the oversight of regulators, requiring banks to seek better information systems (e.g., more accurate, timely, and integrated information). 4. As noted by the article, this will create a boom for consultants and providers of information systems.
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Derivatives - More Disclosure Is Always Better for Financial Analysts
March 27, 2008
Statement of Financial Accounting Standards 161 | www.fasb.org
1. Value is defined by risk. Risk deals with uncertainty of the future. How a firm manages risk is a major determinant of its value. 2. Accounting standards are dedicated to reporting the past. Given it is the past, there is little risk or uncertainty regarding such events. Merely reporting the past does not give the financial analyst the insights needed. 3. FASB 161 tries to bridge this gap between past/present and the future. It attempts to make management disclose intent. It attempts to answer the following question: "How will current actions and positions affect future performance?"
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Recent Seminars
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June 12, 2008 | New York
GLG Seminar: Pensions and OPEB - Impact of Changing Accounting and Regulatory Rules on Firm Value -
December 7, 2006 | New York
GLGi: Pensions - Evaluating Underfunded DB Plans - An Accounting and Legal Perspective -
January 26, 2006 | New York
GLGi: Pension Accounting -
November 16, 2005 | Chicago
GLGi: Pension Accounting & Analysis -
April 19, 2005 | Boston
GLGi: Pension Accounting