University of Vermont

School of Business Administration

Faculty Profiles

Stephen J. Dempsey, Ph.D. Associate Professor

Contact Information
Office: 306 Kalkin
Phone: (802) 656-8322

Office Hours: MW 9:00-11:00 am or by appointment

Prior to joining the UVM faculty in the Fall of 1987, Dr. Dempsey taught at Virginia Tech (1982-85) and The College of William and Mary (1985-87). He earned his bachelor's from Binghamton University (Summa Cum Laude) and Master of Accountancy and Ph.D. degrees from Virginia Tech. The recipient of a numerous academic honors and teaching awards, he has done extensive consulting work for several national and regional firms, including the U.S. Postal Service, General Dynamics, IBM and Ben & Jerry's. Dr. Dempsey's primary teaching interests cover all areas of financial and managerial accounting.

His research has been published in The Accounting Review, the Journal of Business Finance and Accounting, the Journal of Financial Statement Analysis, the Journal of Accounting Education, the Quarterly Journal of Business and Economics, and the Journal of Financial Research.

Suggested topics for comment:
The interpretation of accounting rules, practices and their impact on financial resource allocations; stock market reaction to news releases; financial performance measures.

American Accounting Association; CFA Institute; Vermont Security Analysts Society (Board Member)

Courses Currently Taught by Stephen Dempsey:

Publication History

Journal Article, Academic Journal
  • Dempsey, S.; Harrison, D. M.; Luchtenberg, K. F.; Seiler, M. J. - "Financial Opacity and Firm Performance: The Readability of REIT Annual Reports" (Refereed) - Journal of Real Estate Finance and Economics - 2012 - v. 45, no. 2, pp. 450-470 [View publication] [Show/Hide Abstract]
  • Dempsey, S.; Harrison, D. M.; Luchtenberg, K. F.; Seiler, M. J. - "Contingent Choice Behavioral Models in the Presence of Information Uncertainty" (Refereed) - Journal of Real Estate Portfolio Management - 2010 - v. 16, pp. 289-299 [Show/Hide Abstract]
  • Dempsey, S. - "On the Benefits of a Mathematical Solutions Approach to Time Value of Money Instruction: Arguments and Evidence" (Refereed) - Journal of Accounting Education - 2003 - v. 21, no. 3, pp. 239-260 [View publication] [Show/Hide Abstract]
  • Dempsey, S.; zz-Gatti, J. F.; Grinnell, D. J.; Cats-Baril, W. - "The Use of Strategic Performance Variables as Leading Indicators in Financial Analysts' Forecasts" (Refereed) - The Journal of Financial Statement Analysis - 1997 - v. 2, no. Summer, 4, pp. 61-79 [View publication] [Show/Hide Abstract]
  • Dempsey, S. - "Interim Earnings Management and the Fourth Quarter Good News Effect" (Refereed) - Journal of Business Finance and Accounting - 1994 - v. 21, no. 6, pp. 889-908 [View publication] [Show/Hide Abstract]
  • Dempsey, S. - "Dividend Policies in Practice: Is there an Industry Effect?" - Quarterly Journal of Business and Economics - 1993 - v. 32, no. Autumn 1993, pp. 3-13 [Show/Hide Abstract]
  • Dempsey, S.; Hunt, H.; Schroeder, N. - "Earnings Management and Corporate Ownership Structure: An Examination of Extraordinary Item Reporting" (Refereed) - Journal of Business Finance and Accounting - 1993 - v. 20, no. 4, pp. 479-500 [View publication] [Show/Hide Abstract]
  • Dempsey, S. - "Effects of Agency and Transactions Costs on Dividend Payout Ratios: Further Evidence of the Agency-Transactions Cost Hypothesis" - Journal of Financial Research - 1992 - no. Winter, pp. 317-321
  • Dempsey, S. - "Predisclosure Information Search Incentives, Analyst Following, and Earnings Announcement Price Response" - The Accounting Review - 1989 - v. LXIV, no. 4, pp. 748-757 [Show/Hide Abstract]
Magazine/Trade Publication
  • Dempsey, S. - "Invited editorial on stock market volatility" - Vermont Business Magazine - 1992
Conference Proceeding
  • Dempsey, S. - "Earnings Uncertainty, Dividend Change Announcements and the (CAPM) Cost of Equity Capital" (Refereed) - American Accounting Association Annual Meeting - 2010 [Show/Hide Abstract]
  • Dempsey, S. - "Time Value of Money Tables: Time to Dispense with Them?" - Applied Business Research Conference Proceedings - 2003
  • Dempsey, S.; Hunt, H.; Schroeder, N. W. - "Earnings Management and Corporate Ownership Structure: An Examination of Extraordinary Item Reporting" - Collected Abstracts of the 1991 American Accounting Assoc. Northeast Region Annual Meeting - 1991 - pp. April, Session 26
Book, Scholarly-New
  • Dempsey, S. - "Instructor's Resource Manual" - Instructor's Manual to Accompany Intermediate Accounting - 6thEdition - 1998 - no. 6, ,
  • Dempsey, S. - "Resource Manual to Accompany Intermediate Accounting" - McGraw Hill - 1991 - pp. 511 pages ,
Research Report
  • zz-Gatti, J. F.; Dempsey, S. - "Fixed Income Sectors: A Primer on the High-Yield Bond Market" - Dwight Asset Management Company - 2006
  • Dempsey, S. - "Profit Model for Post Offices: A Study of Income Measurement, Subunit Reporting and Managerial Incentives" - Report to the Postmaster General of the United States - 1996 - pp. 38 pages
  • Dempsey, S. - "Interim Earnings Management and the Fourth-Quarter Good News Effect" - Collected Abstracts of the American Accounting Association Northeast Region 1992 Annual Co - 1992 - pp. April
  • Dempsey, S. - "What Are Investors Saying?" - Vermont Business Magazine - 1992 - pp. 11-12