Sarah Kröchert

Assistant Professor in Accounting at Lancaster University Management School

Photo of Sarah Kröchert Photo by Delia Wöhlert

About me

I am an assistant professor in accounting at Lancaster University Management School. I did my PhD at Humboldt University in Berlin and, during my PhD, visited Columbia University in New York.

My research

My research focuses on two areas, investor responses to disclosure and university governance. I am fascinated by the university setting because it combines a low level of regulation with highly complex organizations. Universities are complex in that they pursue multiple objectives and manage substantial assets. In terms of, for instance, endowment assets or revenues, some universities compare well with large publicly listed firms. Given this size, it seems surprising that universities and in particular their governance structures are less regulated than publicly listed firms. At the same time, this lack of regulation results in heterogeneity that researchers can exploit. In my research, I study heterogeneity of the board of trustees, the central body overseeing university operations, and how it affects compensation practices and spending efficiency in universities.

When studying investors, I exploit heterogeneity in investor types. For example, in one of my papers, I examine the whole range of investor types that are active in public equity markets and how they respond to changes in ownership disclosure, i.e., disclosures that they themselves have to provide. In another paper, I examine a specific investor type, individual investors, and how these investors make use of information obtained from firm disclosures in non-financial contexts.

My research page contains more information.