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Karel Hrazdil

Professor, Accounting

Area Coordinator, Accounting


Room: WMC 3361

Phone: 778.782.6790


Room: SGL 3615

Phone: 778.782.6516


Curriculum Vitae: View


B. Comm., University of Alberta, PhD, University of Alberta, CPA, CGA (British Columbia)


Professor Karel Hrazdil, who joined the Beedie School of Business in August 2007, comes from a long family line of professors. Originally from the Czech Republic, Hrazdil moved to Canada in 1997 to complete his education, graduating with a PhD in accounting from the University of Alberta (UA) in 2007. He enjoys teaching as well as researching financial accounting and reporting in capital markets. A sports enthusiast, Hrazdil enjoys Judo (holds a black belt), scuba diving (PADI Divemaster), and skiing. He also regularly competes in tournaments in Racketlon, which combines the four most popular racquet sports in a single match (table tennis, badminton, squash and tennis).

Research Interests

Price formation process (market microstructure); Industry classification; Financial reporting quality

Selected Publications

articles and reports

Hrazdil, K., Simunic, D. A., & Suwanyangyuan, N. (2021). Auditor Choice and the Informativeness of 10-K Reports. Journal of Accounting, Auditing & Finance.

Hrazdil, K., Mahmoudian, F., & Nazari, J. A. (2021). Executive personality and sustainability: Do extraverted chief executive officers improve corporate social responsibility? Corporate Social Responsibility and Environmental Management, 28(6), 1564-1578.

Mahmoudian, F., Nazari, J. A., Gordon, I. M. M., & Hrazdil, K. (2021). CEO personality and language use in CSR reporting. Business Ethics, the Environment & Responsibility, 30(3), 338-359.

Hrazdil, K., Kim, J. B., & Li, X. (2021). What shapes CSR performance? Evidence from the changing enforceability of non-compete agreements in the United States. Review of Financial Economics, 39(3), 334-359.

Hrazdil, K., Simunic, D. A., & Suwanyangyuan, N. (2020). Are the Big 4 audit firms homogeneous? Further evidence from audit pricing. International Journal of Auditing, 24(3), 347-365.

Hrazdil, K., Novak, J., Rogo, R., Wiedman, C., & Zhang, R. (2020). Measuring executive personality using machine-learning algorithms: A new approach and audit fee-based validation tests. Journal of Business Finance and Accounting, 47(3-4), 519-544.

Nazari, J. A., Hrazdil, K., & Mahmoudian, F. (2017). Assessing social and environmental performance through narrative complexity in CSR reports. Journal of Contemporary Accounting and Economics, 13(2), 166-178.

Chung, D. Y., Hrazdil, K., & Trottier, K. (2015). On the efficiency of intra-industry information transfers: The dilution of the overreaction anomaly. Journal of Banking and Finance, 60, 153-167.

Chung, D. Y., & Hrazdil, K. (2015). The impact of trading floor closure on market efficiency: evidence from the Toronto Stock Exchange. Applied Economics, 47(56), 6102-6119.

Hrazdil, K., Trottier, K., & Zhang, R. (2014). An intra- and inter-industry evaluation of three classification schemes common in capital market research. Applied Economics, 46(17), 2021-2033.

Chung, D., Hrazdil, K., & Trottier, K. (2014). Industry classification and the efficiency of intra-industry information transfers. American Journal of Business, 29(1), 95-111.

Hrazdil, K., & Scott, T. (2013). The role of industry classification in estimating discretionary accruals. Review of Quantitative Finance and Accounting, 40(1), 15-39.

Hrazdil, K., Trottier, K., & Zhang, R. (2013). A comparison of industry classification schemes: A large sample study. Economics Letters, 118(1), 77-80.

Chung, D. Y., & Hrazdil, K. (2012). Speed of convergence to market efficiency: The role of ECNs. Journal of Empirical Finance, 19(5), 702-720.

Hrazdil, K., & Zhang, R. (2012). The importance of industry classification in estimating concentration ratios. Economics Letters, 114(2), 224-227.

Chung, D. Y., & Hrazdil, K. (2011). Market efficiency and the post-earnings announcement drift. Contemporary Accounting Research, 28(3), 926-956.

Atanasova, C., & Hrazdil, K. (2010). Why do healthy firms freeze their defined-benefit pension plans? Global Finance Journal, 21(3), 293-303.

Chung, D., & Hrazdil, K. (2010). Liquidity and market efficiency: A large sample study. Journal of Banking and Finance, 34(10), 2346-2357.

Hrazdil, K. (2010). S&P 500 index inclusion announcements: does the S&P committee tell us something new? Managerial Finance, 36(5), 368-393.

Hrazdil, K., & Scott, T. (2009). S&P 500 index revisited: Do index inclusion announcements convey information about firms' future performance? Quarterly Journal of Finance and Accounting, 48(4), 79-113.