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Asokan Anandarajan

Anandarajan, Asokan
Professor of Accounting, MTSM
4016 CAB
About Me

Dr. Asokan Anandarajan received his PhD from Drexel University, Philadelphia in 1995. He is currently a professor of accounting and information systems at NJIT. He is a British qualified Chartered Management Accountant (CMA). His research interests relate to judgment and decision making in accounting. Professor Anandarajan´s primary research investigates value relevance of reported earnings by companies and factors influencing value relevance on a global scale. His other research interests include corporate governance and techniques to detect accounting fraud. His teaching interests include, Financial accounting, Managerial accounting and accounting information systems. He has published papers in journals including, Auditing: A Journal of Practice and Theory, Accounting Horizons, Accounting and Finance, Advances in Accounting, Advances in Accounting Behavioral Research, Behavioral Research in Accounting, International Journal of Intelligent systems in Accounting, Finance and Management, Journal of Financial Services Research, Review of Quantitative Finance and Accounting among others.


• Ph.D. Accounting (Major) Statistics (Minor). Drexel University, PA ,1995
• M.Phil. Accounting and Marketing. Cranfield University (Cranfield, England), 1986
• MBA. Accounting and Finance. Cranfield University (Cranfield, England), 1984
• BS. Business Administration. Colombo University (Sri Lanka), 1981

Honors & Awards

• Fall 2003: Recipient of Provost’s Master Teacher Award for track record of teaching excellence
• Fall 2000: Recipient of NJIT Teaching Excellence Award for Excellence in Teaching in the Lower Undergraduate Category
• Fall 1999: Recipient of NJIT Honorable Mention Award for Excellence in Teaching in the Lower Undergraduate Category. (The Honorable Mention Award is designed to acknowledge only those recipients who were extremely close to the first place winner.)

Courses Taught

• ACCT 615 Managerial Accounting
• ACCT 501 Accounting Foundations for Managers
• ACCT 435 Intermediate Accounting II
• ACCT 425 Intermediate Accounting I
• ACCT 315 Management Accounting
• ACCT 115 Basic Financial Accounting
• ACCT 116 Financial Accounting II

Research Interests

Earnings management, Value relevance, International auditing

Published Book

Anandarajan, A., G. Kleinman. 2015. International Auditing Standards in the United States: Comparing and Understanding Standards for ISA and PCAOB. Business Experts Press, New York.

Published Refereed Journal Papers

Anandarajan A., and M. Christopher. 1987. A Mission Approach to Customer Profitability Analysis. International Journal of Physical Distribution Management (October) Vol.17(7), pp. 55-69.

Anandarajan A., and H. Jaenicke. 1995. The Influence of Auditors’ Reporting Choices on Loan Officers The Journal of Commercial Lending (May) Vol.77(9), pp.55-59.

LaSalle, R., and A. Anandarajan. 1996. Auditors’ Views on the Type of Audit Report Issued to Entities with Going Concern Uncertainties. Accounting Horizons (June) Vol. 10(2): pp. 51-72.

LaSalle, R. A., A. Anandarajan, and A. Miller. 1996. Empirical Evidence on the Auditor’s Choice Between an Unqualified Modified Report with Modified Wording and a Disclaimer of Opinion Attributable to Going Concern Difficulties. Auditing: A Journal of Theory and Practice (Fall) Vol. 15(2), pp. 29-48.

LaSalle, R.A., and A. Anandarajan. 1997. Bank Loan Officers’ Reactions to Audit Reports Issued to Entities with Litigation and Going Concern Uncertainties. Accounting Horizons (June) Vol.11(2), pp. 33-41.

Anandarajan A., J. Wen, and M. Anandarajan. 1997. The Application of Activity Based Costing in a Client Server Environment,” Management Accounting (U.K.) (November) Vol.75(10), pp.62-67.

Anandarajan, A., W. Ghani, and J. Stagliano. 1997. Empirical Analysis of the Incremental Information Content of SAS No. 59 Going Concern Modified Reports. Indian Accounting Review (December) Vol.1(2), pp.38-48.

Kleinman, G., A. Anandarajan, and K. Lawrence. 1998. Forecasting State Tax Revenues: A New Approach. Advances in Business and Management Forecasting JAI Press inc., Vol. 2. pp.157-170.

Wen, J., and A. Anandarajan. 1998. A Tool for Chargeback Systems Selection Journal of Information Technology Management Vol. IX(2): pp. 43-51.

Kleinman, G., K. Lawrence, and A. Anandarajan. 1998. What Makes for Successful Defined Benefit Pension Plans? An Empirical Look at Pension Plan Characteristics Journal of Pension Planning and Compliance Vol.24(2) pp. 88-106.

Anandarajan, M., A. Anandarajan, and J. Wen. 1998. Extranets: A Tool for Cost Control in a Value Chain Framework Industrial Management & Data Systems Vol.98(3), pp. 120-128.

Anandarajan A., W. Ghani, and A.J. Stagliano. 1998. Consolidation of nonhomogeneous subsidiaries: the impact of alternative accounting treatments Journal of Accounting and Finance (September) Vol 12(2): pp. 228-241.

Wen.J., and A. Anandarajan. 1998. Intranet: a cost reduction tool for corporate publication Industrial Management & Data Systems Vol.98(5), pp. 200-205.

Kleinman, G., D.Palmon, and A.Anandarajan. 1998. Auditor independence: a synthesis of theory and empirical research Research in Accounting Regulation Vol. 12, pp. 3-42.

Anandarajan, A., and G. Kleinman. 1999. The usefulness of off-Balance sheet variables as predictors of auditors’ going concern opinions: An empirical analysis Managerial Auditing Journal Vol. 14(6/7): pp. 273 – 285.

Anandarajan, A., and H. J. Wen. 1999. Evaluation of information technology investment Management Decision Vol. 37(3/4): pp. 329-337.

Kleinman G, A. Anandarajan, and K. Lawrence. 1999. Defined contribution plans and pension planning: An empirical analysis Journal of Pension Planning and Compliance Vol. 24(4): pp. 32-48.

Anandarajan A., and M. Anandarajan. 1999. Modelling the auditor’s financial distress decision: A comparison of ANN, ID3, and MDA models International Review of Accounting Vol. 3: pp. 37-56.

Anandarajan, M., and A. Anandarajan. 1999. A comparative study of the predictive ability of neural networks for audit report issuance Expert Systems With Applications: An International Journal May, Vol. 16 (4); pp. 385-392.

G. Kleinman, K. Lawrence, and A. Anandarajan. 1999. An analysis of the move towards defined contribution plans: Are the rewards for employees commensurate with the risks? Journal of Pension Planning and Compliance (Fall), Vol. 25(3): pp. 61-89.

Anandarajan, A., and C. Viger. 1999. Cost management and pricing decisions in the presence of quality cost information: An experimental study with marketing managers Journal of Cost Management January/February Vol. 13(1): pp. 21-29.

Anandarajan, A., and C. Sylla. 2000. Examining investments in information technology: A critical appraisal approach. Journal of Cost Management (March/April) Vol.14(2): pp. 5-14.

Anandarajan, A., G. Kleinman, and D. Palmon. 2000. Investors’ expectations and the corporate information disclosure gap: A perspective. Research in Accounting Regulation Vol. 14: pp. 245-260.

Anandarajan, A., R.E. LaSalle, and M. Anandarajan. 2000. Policy issues concerning the choice of a disclaimer in the presence of going concern uncertainties: An empirical analysis. Managerial Auditing Journal Vol. 16(3): pp. 165-175.

Kleinman, G., and A. Anandarajan. 2000. Decision making differences between Big six and non-Big six auditing firms: An empirical analysis. Managerial Auditing Vol.15(6): pp. 295-305.

Anandarajan, M., P. Lee, and A. Anandarajan. 2001. Bankruptcy prediction of financially stressed firms: An examination of the predictive accuracy of artificial neural networks. International Journal of Intelligent Systems in Accounting, Finance, and Management, 10(2): pp. 69-82.

Anandarajan, A., and C. Viger. 2001. The role of quality cost information in decision making: An experimental investigation of pricing decisions. Advances in Management Accounting, 10: .pp. 227-250.

Anandarajan.M., G. Arinze, A. Anandarajan, and K. Lawrence. 2002. Forecasting state tax revenues: A new approach. Advances in Business and Management Forecasting, 3: pp. 93-112.

Anandarajan, A., I. Hasan, G. Moyes, F. Wulsin, 2002. Gender, ethnicity, and demographic factors influencing promotions to managers for auditors: An empirical analysis. Advances in Public Interest Accounting, Vol. 9: 1-31.

Bessel, M., A. Anandarajan, and A. Umar. 2003. Information content, audit reports, and going concern: An Australian study, Accounting and Finance 43(3): 261-182.

Moyes, G., and A. Anandarajan. 2002. What kind of CPA detects fraud? Internal Auditing, 17(5): pp. 32-41.

Anandarajan, A., C. Viger, and A.P. Curatola. 2002. An experimental investigation of alternative going-concern reporting formats: A Canadian experience. Canadian Accounting Perspectives 1(2): 141-162.

Anandarajan, A., I. Hasan, and A.Lozano-Vivas. 2003. The role of loan loss provisions in earnings management, capital management, and signaling: the Spanish experience, Advances in International Accounting Vol. 16: 43-63.

Anandarajan, A. and D. Hossain. 2004. Management of earnings by financial institutions in the Indian subcontinent. Research in Banking and Finance 5: 89-108.

Viger, C., A. Anandarajan, and A.P. Curatola. 2004. Behavioral implications of alternative going concern reporting formats Advances in Accounting Behavioral Research 7: 51-71.

Umar, A., and A. Anandarajan. 2004. Auditors’ independence of judgment under pressure, Internal Auditing January/February: 22-32.

Umar, A., and A. Anandarajan. 2004. Dimensions of pressures faced by auditors and its impact on auditors’ independence, Managerial Auditing Vol. 19(1): 99-116.

Anandarajan, A., L. Goodman, G. Kleinman, and D. Palmon. 2004. The international implications of U.S. research on going concern opinions. The ICFAI Journal of Accounting Research Vol. III(1). 33-58.

Bessell, M., and A. Anandarajan. How useful are audit reports? 2004. Journal of Banking and Financial Services 118(3): 12-16.

Anandarajan, A., I. Hasan, and A. Lozano-Vivas. 2005. Loan loss provision decision: An analysis of Spanish depository institutions. Journal of International Accounting, Auditing and Taxation 14: 55-77.

Lee, P., A. Wei, and A. Anandarajan. 2005. Going concern report modeling: A study of factors influencing the auditor’s decision. Journal of Forensic Accounting 6(1): 55-76.

Moyes, G., and A. Anandarajan. 2006. CPAs perceptions of factors influencing the quality of financial statement audits: substandard performance and impaired independence. Journal of Forensic Accounting Vol VII: 133-162.

Chin, C.L., P. Lee, H. Chi, and A. Anandarajan. 2005. Patent citation, R&D spillover and Tobin’s q: An empirical study of the Taiwan semiconductor industry. Review of Quantitative Finance and Accounting 26: 67-84.

Anandarajan, A., I. Hasan, I. Isik, and C. McCarthy. 2005. The role of earnings and book values in pricing stocks: Evidence from Turkey. Advances in International Accounting 19: 59-90.

Anandarajan, A., C.L. Chin, H. Chi, and P. Lee. 2007. The effect of innovative activity on firm performance: The experience of Taiwan. Advances in Accounting 23: 1-30.

Becchetti,L., I. Hasan, M. Santoro, and A. Anandarajan. 2007. Analysts’ forecasts: Why are they biased? Journal of Corporate Accounting and Finance 18(3): 75-81.

Anandarajan, A., I. Hasan, and C. McCarthy. 2007. The use of loan loss provisions for capital and earnings management by Australian banks. Accounting and Finance 47(3) September: 357-380.

Anandarajan, A., M. McGhee and A.P. Curatola. 2007. A guide to international transfer pricing. Journal of Corporate Accounting and Finance September / October: 33-41.

Ettredge, M., L. Sun, P.Lee, and A.Anandarajan. 2008. Are high deferred tax levels associated with earnings fraud? Auditing: A Journal of Practice & Theory. 27(1): 1-34.

Anandarajan, A., R. Belzile, A. Curatola, and C.Viger. 2008. Disclosure versus recognition in stock option reporting: Are sophisticated users’ perceptions and judgments influenced by the reporting format? Advances in Accounting Behavioral Research 11: 31-58.

Viger, C., R. Belzile, and A. Anandarajan, 2008. Disclosure versus recognition of stock compensation: Effect on the credit decisions of loan officers. Behavioral Research in Accounting 20(1): 93-114.

Jiang,A., P.Lee and A.Anandarajan. 2008. The association between corporate governance and earnings quality: Further evidence using the Gov score. Advances in Accounting 24 (2) December: 191-201.

Anandarajan,A., G. Kleinman, and D. Palmon. 2008. Auditor independence revisited: The effects of SOX on auditor independence. International Journal of Disclosure and Corporate Governance Vol. 5.(2) (June): 112-1265

Anandarajan, A., G. Kleinman, and D. Palmon. 2008. Novice and expert judgment in the presence of going concern uncertainty: The influence of heuristic biases and other relevant factors. Managerial Auditing Journal 23(4/5): 345-366.

Ehrlich, M., and A. Anandarajan. 2008. SIVs: Could you survive a financial collapse? Journal of Corporate Accounting and Finance 19(4): 27-36.

Ehrlich,M., and A. Anandarajan. 2008. Protecting your firm from foreign exchange risk. The Journal of Corporate Accounting and Finance 19)6): 25-34.

Anandarajan,A., L. Becchetti, I. Hasan, and M.I.. Santoro. 2008. The dynamics of the analysts’ earnings forecast bias and the stock market boom. Journal of Theoretical Accounting Research 4(10: 3-37.

Ehrlich, M., A. Anandarajan, and M. Fossacecca. 2008. Solving treasury problems in an age of global trade. Journal of Corporate Accounting and Finance (Sept/Oct), 20(6): 55-65..

Ehrlich, M., A. Anandarajan and B. Chou. 2009. Structured investment vehicles: The unintended consequences of financial innovation. Bank Accounting and Finance Oct/Nov, 22(6): 29-37.

W. Jiang, and A. Anandarajan. 2009. Shareholder rights, corporate governance and earnings quality: The influence of institutional investors. Managerial Auditing Journal 24 (8): 767-791.

A.Anandarajan and M.Ehrlich. 2009. The Treasurer: How to weather our current crisis. The Journal of Corporate Accounting and Finance Nov/Dec, 21(1): 29-33.

Anandarajan,A., G. Kleinman, and D. Palmon. 2010. A theoretical model of cognitive factors that affect auditors’ performance and perceived independence.

International Journal of Behavioural Accounting and Finance Vol. 1 (3): 239-267.

Anandarajan, A., S. Chiang, and P. Lee. 2010. R&D tax credit and operating performance: Implications for managers. Management Decision, 48(8): 1198-1211.

Anandarajan, A., and I. Hasan. 2010. Value relevance of earnings: Evidence from Middle East and North African countries. Advances in Accounting, 26(2): 270-280.

Anandarajan, A., and G. Kleinman. 2010. The impact of cognitive biases on fraudulent behavior: The Leeson case. International Journal of Behavioural Accounting and Finance, 2(1): 4—56.

Leventis, S., P.E. Dimitropoulos and, A. Anandarajan. 2011. Loan loss provision, earnings management and capital management: The case of EU commercial banks. Journal of Financial Services Research, 40: 103-122..

Anandarajan, A., B. Francis, I. Hasan, and K. John. 2011. Value relevance of banks: global evidence. Review of Quantitative Finance and Accounting, 36(1): 33-55.

Alali, F., A. Anandarajan and W. Jiang. 2011. The effect of corporate governance on a firm’s credit ratings. Accounting and Finance 52 (2): 291-313.

Xu, W., A. Anandarajan, and A.Curatola. 2011. The value relevance of goodwill impairment. Research in Accounting Regulation, 23 (2): 145-148.

Ehrlich, M., and A. Anandarajan. 2011. International lessons for US housing finance. The Journal of Corporate Accounting & Finance, 22(6): September/October, 31-38.

Kleinman, G., and A. Anandarajan. 2011. Inattentional blindness and its relevance to teaching forensic accounting and auditing. Journal of Accounting Education, 29(1): 37-49.

Xu, W., K. Wang, and A. Anandarajan. 2012. Quality of reported earnings by Chinese firms: The influence of ownership structure, Advances in Accounting forthcoming 28(1): 193-199.

Leventis, S., P.E. Dimitropoulos, and A. Anandarajan. 2012. Signaling by banks using loan loss provisions: The case of the European Union, Journal of Economic Studies 39(5): 604-620..

Anandarajan, A., G. Kleinman, and D. Palmon. 2012. Is non audit services a suitable proxy for auditor independence in the post SOX period? Research in Accounting Regulation 24(2) October: 105-111.

Chou, B., W.Xu, A. Anandarajan, D. Valenti. 2012. Is honesty the best policy? A game theory perspective in auditing International Journal of Behavioral Accounting and Finance 3 (1/2).

Chiang,S., P. Lee, and A. Anandarajan 2012. The effect of R&D tax credit on innovation: A life cycle analysis. Innovation on Management Policy and Practice 14(4): 510-523

Kleinman, G., A. Anandarajan, and D. Palmon 2012. Who’s to judge? Understanding issues of auditor independence versus judicial independence. Accounting, Economics and Law: A Convivium 2(1): 1-50.

Siregar, D., A. Anandarajan, and I. Hasan. 2013. Commercial banks and value relevance of derivative disclosures after SFAS 133: Evidence from the USA Review of Pacific Basin Financial Markets and Policies 16(1): March

Alali, F. and A. Anandarajan. 2015. The interaction between LLP and SFAS 157 and its role in the choice of tools for earnings and capital management by banks during a financial crisis. Quarterly Journal of Finance and Accounting 53:1 and 2

Lagrange, B., C. Viger, and, A. Anandarajan. 2015. Contingent liabilities: The effect of three alternative reporting styles. Research in Accounting Regulation 27(2): 119-129.

Kleinman, G., P. Strickland, and A. Anandarajan. 2015. The Accounting Court: Some speculations on why not? Group Decision and Negotiation. DOI 10.1007/s10726-9456-4