Professor Pawel Bilinski

Professor Pawel Bilinski

Professor of Accounting
Accounting Director of Research CeFARR Director JBFA Editor BAR Editor

About

Professor Pawel Bilinski is the Director of the Centre for Financial Analysis and Reporting Research at Bayes Business School, City St Georges, University of London. He is also the Research Director for the Faculty of Finance. In 2024, he became Editor of the Journal of Business Finance and Accounting, and in 2026, he became Associate Editor at the British Accounting Review. In 2023, he was elected to the Board of the European Accounting Association as the National Representative for the United Kingdom (term 2023–2026).

He was the Course Director of the MSc in Corporate Finance and of the BSc Accounting and Finance at Bayes Business School. In 2016, he established and coordinated the Young Accounting Scholars Network. Before joining the Accounting Group at Bayes Business School, he held posts at Manchester Business School and at Lancaster University Management School. He held visiting positions at other institutions, including at the University of Bristol and Warwick Business School.

Pawel's research interests are in the area of accounting and finance and include firm disclosure policies, the properties of analyst research outputs, investment banking relationships, and empirical corporate finance.

He has published in top accounting and finance journals such as The Accounting Review, British Journal of Management, Journal of Banking and Finance, Journal of Business Finance and Accounting, Abacus, European Financial Management, and Financial Markets, Institutions, and Instruments. He is Editorial Board Member of the Journal of Business Finance and Accounting, Accounting and Business Research, European Accounting Review, and the Journal of Accounting, Finance and Economics.

Pawel has experience teaching accounting (financial and managerial accounting) and finance courses at Executive, MBA, MSc, and undergraduate level in the UK, Hong Kong, Dubai, Shanghai, the Channel Islands and Saudi Arabia. He has received excellent feedback on his engaging and practice-oriented teaching.

Contact & Links

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Roles & Positions

Current
Professor of Accounting
Research Centre
Director, CeFARR
Faculty
Research Director, Faculty of Finance
Editorial
Editor, JBFA (2024–)
Editor, British Accounting Review (2026–)
Board
EAA – UK National Representative (2023–2026)
Qualification
PhD Accounting & Finance, Manchester Business School

Research Interests

Firm disclosure policies Analyst research outputs Investment banking relations AI & textual analysis Empirical corporate finance Accounting anomalies Social media & capital markets

Publications

2025
Bilinski, P. (2025). Beyond the street EPS surprise – when 'other surprises' matter in explaining earnings announcement returns. Accounting and Business Research, 55(7), pp. 780–811. doi:10.1080/00014788.2024.2400875
Brownen‐Trinh, R., Cho, J.J. and Bilinski, P. (2025). Retail Investors' Trades Around Comment Letter Disclosures. Journal of Business Finance & Accounting, 52(5), pp. 2175–2209. doi:10.1111/jbfa.12863
Zhang, J., Bilinski, P., Raonic, I. and Ryans, J. (2025). Enforcing Disclosure Compliance in Mergers and Acquisitions: Evidence from China. European Accounting Review, 34(2), pp. 751–784. doi:10.1080/09638180.2023.2273380
2024
Bilinski, P. (2024). The Content of Tweets and the Usefulness of YouTube and Instagram in Corporate Communication. European Accounting Review, 33(1), pp. 279–311. doi:10.1080/09638180.2022.2084759
2023
Bilinski, P. (2023). Analyst Research Activity During the COVID‐19 Pandemic. Abacus, 59(4), pp. 1041–1073. doi:10.1111/abac.12291
Lyssimachou, D. and Bilinski, P. (2023). Does corporate social responsibility affect the institutional ownership of firms in the hospitality and tourism industry? Tourism Economics, 29(4), pp. 853–879. doi:10.1177/13548166211069899
2022
Bilinski, P. and Yim, A. (2022). Accounting Firms in the European M&A Advisory Market. British Journal of Management, 33(4), pp. 1820–1842. doi:10.1111/1467-8551.12571
Bilinski, P. and Bradshaw, M.T. (2022). Analyst Dividend Forecasts and Their Usefulness to Investors. The Accounting Review, 97(4), pp. 75–104. doi:10.2308/tar-2018-0518
Schreder, M. and Bilinski, P. (2022). Information Quality and the Expected Rate of Return: A Structural Equation Modelling Approach. Asia-Pacific Financial Markets, 29(2).
Schreder, M. and Bilinski, P. (2022). A study of the reliability of cross-sectional earnings forecasting models for estimating IPO firms' implied cost of capital. Accounting Research Journal, 35(2), pp. 219–237. doi:10.1108/arj-10-2020-0329
2021
Ge, X., Bilinski, P. and Kraft, A. (2021). Institutional Blockholders and Voluntary Disclosure. European Accounting Review, 30(5), pp. 1013–1042. doi:10.1080/09638180.2021.1979418
2019
Bilinski, P., Cumming, D., Hass, L., Stathopoulos, K. and Walker, M. (2019). Strategic distortions in analyst forecasts in the presence of short-term institutional investors. Accounting and Business Research, 49(3), pp. 305–341. doi:10.1080/00014788.2018.1510303
Bilinski, P. and Eames, M. (2019). Analyst revenue forecast reporting and the quality of revenues and expenses. Journal of Business Finance & Accounting, 46(1–2), pp. 136–158.
2018
Novák, J. and Bilinski, P. (2018). Social stigma and executive compensation. Journal of Banking and Finance, 96, pp. 169–184.
Bilinski, P. and Lyssimachou, D. (2018). Dividend Guidance to Manage Analyst Dividend Expectations. International Review of Financial Analysis, 60, pp. 53–68.
2015
Ohlson, J.A. and Bilinski, P. (2015). Risk versus Anomaly: A New Methodology Applied to Accruals. The Accounting Review, 90(5), pp. 2057–2077. doi:10.2308/accr-50984
Silva, A. and Bilinski, P. (2015). Intended Use of Proceeds, Underwriter Quality and the Long‐run Performance of SEOs in the UK. Journal of Business Finance & Accounting, 42(9–10), pp. 1282–1309. doi:10.1111/jbfa.12171
Bilinski, P. and Mohamed, A. (2015). The Signaling Effect of Durations between Equity and Debt Issues. Financial Markets, Institutions & Instruments, 24(2–3), pp. 159–190. doi:10.1111/fmii.12027
2014
Bilinski, P. and Lyssimachou, D. (2014). Risk Interpretation of the CAPM's Beta: Evidence from a New Research Method. Abacus, 50(2), pp. 203–226. doi:10.1111/abac.12028
Bilinski, P. (2014). Do Analysts Disclose Cash Flow Forecasts with Earnings Estimates When Earnings Quality is Low? Journal of Business Finance and Accounting, 41(3–4), pp. 401–434. doi:10.1111/jbfa.12056
2013
Bilinski, P., Lyssimachou, D. and Walker, M. (2013). Target Price Accuracy: International Evidence. The Accounting Review, 88(3), pp. 825–851. doi:10.2308/accr-50378
Bilinski, P., Liu, W. and Strong, N. (2013). Managers' Private Information, Investor Underreaction and Long‐Run SEO Performance. European Financial Management, 19(5), pp. 956–990. doi:10.1111/j.1468-036x.2011.00616.x
2012
Bilinski, P., Liu, W. and Strong, N. (2012). Does liquidity risk explain low firm performance following seasoned equity offerings? Journal of Banking & Finance, 36(10), pp. 2770–2785. doi:10.1016/j.jbankfin.2012.07.009
Working Papers
Bilinski, P. (2024). The Usefulness of ChatGPT for Textual Analysis of Annual Reports. SSRN Working Paper. Available at SSRN

Editor and Editorial Board Member

2024 – present
Editor, Journal of Business Finance and Accounting
2026 – present
Editor, British Accounting Review
2025 – present
Editorial Board Member, Accounting Open
2020 – present
Editorial Board Member, European Accounting Review
2016 – present
Editorial Board Member, Accounting and Business Research
2016 – present
Associate Editor, Quarterly Journal of Accounting and Finance
2015 – 2024
Editorial Board Member, Journal of Business Finance and Accounting
2014 – present
Editorial Board Member, Journal of Accounting, Finance and Economics.

Ad-hoc Referee

The Accounting Review, Management Science, Review of Accounting Studies, Review of Finance, Journal of Business Finance and Accounting, Journal of Banking and Finance, Journal of Accounting, Auditing and Finance, European Accounting Review, Accounting and Business Research, Abacus, British Accounting Review, Accounting and Finance, Managerial Finance, Journal of Service Research, Journal of Applied Accounting Research, The International Journal of Accounting, Asia-Pacific Journal of Accounting & Economics, Accounting in Europe, Emerging Markets Finance and Trade, Corporate Governance: An International Review, European Financial Management, European Journal of Operational Research, International Journal of Corporate Governance, International Review of Economics and Finance, Journal of Accounting and Public Policy, Accounting Forum, Journal of International Financial Management & Accounting, Accounting, Auditing & Accountability, Sustainability, Journal of Emerging Technologies in Accounting, Sustainable Futures.

Other Academic-related Roles

2024 – 28
REF 2028 Preparation Committee, Bayes Business School
2024 – present
Member of the ESRC Peer Review College
2024 – present
Member of the Policy Support Fund and Participatory Research Fund, Pump Priming Panel, REF panel.
2023 – 24
Research Champion, Faculty of Finance, Bayes Business School
2023 – 26
National Representative for the United Kingdom to the EAA Board
2021 – present
External Examiner, London Business School.
2021 – 25
External Examiner, BSc Accounting and Finance, Lancaster University Management School.

PhD Examiner and Other Roles

2025
Viva Chair, Paul Douglas, Bayes Business School
2024
Viva examiner, Cong Tao, ESSEC Business School
2024
Viva examiner, Ibrahim Haidar, Birkbeck, University of London
2023
Viva examiner, Xiaoyong Wu, Lancaster University Management School.
2022
Viva examiner, Zhai Weihuan, The Hong Kong Polytechnic University
2021
Viva examiner, Wen Lin, Lancaster University Management School.
2020
Viva examiner, Nikos Floropoulos, University of Cyprus.
2020
Viva examiner, Han Lao, King's College London.
2019
Viva examiner, Yang Wang, London School of Economics and Political Science.
2016
Viva examiner (internal), Ali Sahin, Cass Business School.
2017/18, 18/19, 21/22
Recruitment Committee Chair, Cass Business School
2016 – present
Organized and led the Young Accounting Scholars Network
2016 – present
Mentoring of early career researchers in accounting
2020
Internal REF reviewer, Cass Business School (two impact case studies)
2021
EDI Strategy Delivery Plan Development and Retention of Talent Group, City, University of London.

Visiting Positions and Advisory Roles

2019/20 – 22
Visiting Professor, Warwick Business School.
2015 – 22
Visiting Professor, University of Bristol.
2015 – 2018
Visiting Professor, King Fahd University, Saudi Arabia.
2013 – 2016
Visiting Professor, University of Manchester.
2022
External recruitment reviewer, Luiss University.
2020
External probation reviewer, Alliance Manchester Business School.
2020
UK Parliament COVID19 Outbreak Expert in the Financial Institutions Area.
2014
Programme Adviser for the MSc in Professional Accounting at the International Business School of Xi'an Jiaotong, China.

Funding & Grants

2026
Impact Case Grant, £4700, City St Georges, University of London
2025
£4900 Pump Priming funding with Dr Gitae Park 'What is the environmental cost of accounting research?'
2024
£8525 The Bayes Knowledge Exchange and Impact Fund 2024-25 'Large-scale application of AI to analyze the sentiment and complexity of FTSE100 and Euro Stoxx 50 annual reports: enhancing investors' capital allocation decisions'
2024
£1375 QR Funding for a roundtable with practitioners to discuss 'AI in capital markets'
2024
£4400 Pump Priming funding with Dr Tan Do 'Consumer-based peers'
2024
£2750 Impact Support Fund 'Corporate communications via social media'
2023
£2500 GradVantage research funding 'What do companies tweet?'
2023
£700 QR Funding for Data Extraction using Python.
2023
European Accounting Review, Excellence in Reviewing Recognition award
2022
Financial Accounting and Reporting Section (FARS) Excellence in Reviewing Award
2022
£2300 GradVantage research funding "#metoo and consumer behaviour"
2022
£5,000 funding from Enhancing Research Culture Fund
2020
Financial Accounting and Reporting Section (FARS) Excellence in Reviewing Award
2019
£3,594 funding from City Pump Priming
2017
£2,300 funding from Knowledge Exchange Development Fund.
2015
£800 funding from Knowledge Exchange Development Fund.
2014
£7,200 funding for Factset dataset, Cass Business School.
2009 – 2011
Two-year Postdoctoral Research Fellowship at Manchester Business School.
2005 – 2008
36-month Marie Curie Early Stage Fellowship awarded by the EU.

Events, Talks & Conferences

2026
Invited Speaker, Essex Business School.
2025
Invited Speaker, University of Turku, Alliance Manchester Business School (University of Manchester).
2024
Invited Speaker Universidad Carlos III de Madrid, American Accounting Association, European Accounting Association, FESB, Academy of Management Annual Meeting, European Accounting Review conference, JBFA conference.
2023
British Accounting Association meeting, European Accounting Association Meeting.
2022
American Accounting Association Meeting, European Accounting Association Meeting, European Financial Management Association Meeting, CAAA Conference, Financial Markets and Corporate Governance conference, International Conference of the Financial Engineering and Banking Society, Financial Management & Accounting Research Conference, 11th International Conference of the Financial Engineering and Banking Society, 2022 Cardiff Fintech Conference.
2021
American Accounting Association Annual Meeting, 11th Financial Markets and Corporate Governance Conference, British Accounting and Finance Conference, Journal of International Accounting Research conference, Financial Management Annual Meeting.
2020
Invited Speaker, Alliance Manchester Business School, University of Manchester. FMA Annual Conference, US, Brunel Business School Accounting Symposium (cancelled due to Covid19), School of Finance and Accounting, University of Westminster, EFMA conference, Ireland (cancelled due to Covid19), EAA Annual Congress, Romania (cancelled due to Covid19), China Accounting and Finance Review Annual Conference.
2019
Invited Speaker, Accounting Group, Warwick Business School, UK. 42nd Annual Congress of the European Accounting Association, Cyprus. Fintech & Digital Finance Conference, SKEMA, France.
2018
Invited Speaker, Accounting and Management Control Department, ESSEC Business School. Invited Speaker, Department of Accounting and Finance, University of Cyprus. Invited Speaker, College of Industrial Management, King Fahd University of Petroleum and Minerals, Saudi Arabia.
2017
Invited Speaker, School of Economics, Finance and Management, University of Bristol. Invited Speaker, Alliance Manchester Business School, University of Manchester. Invited Speaker, University of Exeter Business School.
2016
Invited Speaker, London School of Economics and Political Relations. American Accounting Association annual meeting (USA). 39th Annual Congress of the European Accounting Association (The Netherlands). Research seminar, Cass Business School. Journal of International Business Studies, Cass Business School. Invited Speaker, Essex Business School.
2015
American Accounting Association annual meeting (USA). Financial Accounting Symposium, Cambridge Judge Business School (UK). Invited Speaker, Université de Neuchâtel (Switzerland). Financial Accounting and Reporting Section (FARS) Midyear Meeting (USA).
2014
Invited Speaker, Deutsche Bank Ideas Lab seminar (UK). Conference on Financial Economics and Accounting (acceptance rate of less than 8%), Georgia State University (USA). Invited Speaker, Deutsche Bank 2nd Annual Global Quantitative Strategy Conference (UK). American Accounting Association annual meeting (USA). 50th British Accounting and Finance Association Annual Meeting (UK). Financial Accounting and Reporting Section (FARS) Midyear Meeting (USA).
2013
26th Australasian Finance and Banking Conference (Australia). Invited Seminar Speaker, Warwick Business School (UK). American Accounting Association annual meeting (USA). JBFA Capital Markets Conference (USA).

Teaching & Supervision

Teaching Experience

Pawel has experience teaching accounting (financial and managerial accounting) and finance courses at Executive, MBA, MSc, and undergraduate level. He has received excellent feedback on his engaging and practice-oriented teaching.

He was the Course Director of the MSc in Corporate Finance and of the BSc Accounting and Finance at Bayes Business School.

UG Teaching: Introduction to Management Accounting/Management Accounting (Year 1 and 2).

PG Teaching: Strategic Management Accounting, Financial Statement Analysis, Empirical Financial Accounting.

Executive and MBA Teaching, Corporate Workshops

2025– Executive teaching: London Borough of Harrow – Harnessing Ambition Programme
2025– Executive teaching: Accounting and Finance for Business Leaders, Executive Master's in Leadership
2022/24 Executive teaching: Management Accounting for Decision Makers, G-Research, London.
2020 and 22 Access to Finance Module, Back to Business Programme, Cass Business School.
2017/19 Master Classes in Effective Medical Leadership Programme, Saudi Arabia Ministry of National Guard Health Affairs (3 workshops per year).
2016– Finance for Non-Financial Leaders, Cass Business School Executive Education.
2015/18 Management Accounting, Executive MBA, King Fahd University, Saudi Arabia.
2012/14 Corporate Finance, Executive programme targeting compliance and trust managers, Manchester Business School.
2010/13 Corporate Finance, EMBA Manchester Business School delivered in the UK, Dubai, Hong Kong, Shanghai.
2010/13 Financial Decisions, Executive MSc, Manchester Business School.
2014 Presentation at Deutsche Bank's Ideas Lab: Investment Profits: Compensation for Risk or Arbitrage?, London Office.
2014 Presentation at the 2nd Annual Deutsche Bank Global Quantitative Strategy Conference, London.
2012 Presentation for KPMG: The Real Effects of the Financial Crisis & the Outlook for 2012, Manchester Office.

Programme Levels

Executive EducationMBAMScUndergraduate

International Teaching Locations

United KingdomHong KongDubaiShanghaiChannel IslandsSaudi Arabia

PhD Supervision

2025/30 PhD supervision, Zhongjie Yang, Bayes Business School.
2024/29 PhD supervision, Qi Chun, Bayes Business School.
2023/28 PhD supervision, Richard Blades, Bayes Business School.
2022/27 Executive PhD supervision, Taehyun Lee, Bayes Business School.
2020/25 PhD supervision, Zan Li, Bayes Business School (Placement at the Chinese University of Hong Kong).
2017/22 PhD supervision, Junzi Zhang, Cass Business School (Placement at the University of Strathclyde).
2016/21 PhD supervision, Xiaochi Ge, Cass Business School (Placement at the University of Bristol).
2013/18 PhD supervision, Andre Silva, Cass Business School (Placement at the Federal Reserve, Washington).