Max Hewitt

Associate Professor of Accounting

McClelland Hall 301P
1130 E. Helen St.
P.O. Box 210108
Tucson, Arizona 85721-0108

Areas of Expertise

  • Forecasting and valuation implications of financial statement information
  • Investors’ reaction to disaggregated financial statement information
  • Implications of financial statement presentation


PhD, University of Washington, 2007

Master of Commerce, University of New South Wales, 2003

Master of Teaching, University of Sydney, 2001

Bachelor of Economics, Macquarie University, 1999

Additional Links

Max Hewitt joined the Eller College of Management in 2015. Previously, he taught at Indiana University and was also a financial advisor at PricewaterhouseCoopers from 1995-1999. He earned his PhD in Business Administration from the University of Washington. His research focuses on forecasting and valuation implications of financial statement information, investors’ reaction to disaggregated financial statement information and implications of financial statement presentation.


  • ACCT 310 Cost and Managerial Accounting
  • ACCT 545 Introduction to Managerial Accounting


  • Erickson, D., M. Hewitt, and L. A. Maines. 2017. Do investors perceive low risk when earnings are smooth relative to the volatility of operating cash flows? Discerning opportunity and incentive to report smooth earnings. The Accounting Review 92 (3): 137-154.
  • Call, A. C., M. Hewitt, T. Shevlin, and T. L. Yohn. 2016. Firm-specific estimates of differential persistence and their incremental usefulness for forecasting and valuation. The Accounting Review 91 (3): 811-833.
  • Hewitt, M., A. Tarca, and T. L. Yohn. 2015. The effect of measurement subjectivity classifications on analysts’ use of persistence classifications when forecasting earnings items. Contemporary Accounting Research 32 (3): 1000-1023.
  • Esplin, A., M. Hewitt, M. Plumlee, and T. L. Yohn. 2014. Disaggregating operating and financial activities: Implications for forecasts of profitability. Review of Accounting Studies 19 (1): 328-362.
  • Hewitt, M. 2009. Improving investors’ forecast accuracy when operating cash flows and accruals are differentially persistent. The Accounting Review 84 (6): 1913-1931.


  • Full-Time MBA Outstanding Faculty of the Year, Eller College of Management (2018)
  • Dean's Fellowship, Eller College of Management (2017-present)
  • Undergraduate Faculty Member of the Year (Small Class)–Eller College of Management (2015-2016)
  • Harry C. Sauvain Teaching Award–Kelley School of Business (2010-2011)
  • Trustees Teaching Award–Kelley School of Business (2008, 2010, 2012)
  • The Schuyler F. Otteson Award, Nominee–Kelley School of Business (2009)