Roman L. Weil, PhD, CPA, is an emeritus faculty member of the Chicago University Booth School of Business, where he taught for 45 years. He is currently a visiting professor at the Rady School of Management at the University of California–San Diego and a program fellow at Stanford Law School.
Professor Weil studies financial literacy and corporate governance. His preliminary work suggested—correctly, it turned out—that corporate board audit committee members have a surprisingly weak financial literacy and that the gains in shareholder wealth that accompany an improvement in such financial literacy are both significant and large. He is now recognized as an expert in financial illiteracy.
His approach to teaching emphasizes a fundamental understanding of the building blocks of accounting (asset, liability, revenue, and expense) that will enable students to continue learning and understanding as the world of business transactions changes over time. In 20 years, he believes, students will have to understand new transactions that have not yet been conceived, as well as the accounting for them.
Professor Weil cofounded and codirects the Chicago/Stanford/Tuck Directors' Consortium. He has designed and implemented continuing education programs for partners at the accounting firms of Andersen and PricewaterhouseCoopers; for employees of Goldman Sachs, Montgomery Wards, Merck, and William Blair; and for business executives in Britain, Hong Kong, and Singapore. Recently ...