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Sara Toynbee

Assistant Professor

Department:     Accounting

Research Areas:     Accounting - Financial, Capital Markets, Financial Reporting, Financial Statement Analysis, Labor Markets, Voluntary Disclosure

Sara Toynbee headshot

Sara Toynbee received a BCom (First Class Honors) in Accounting and Information Systems from the University of Canterbury (in her home country of New Zealand), and PhD from the University of Washington. Her research examines how recognition, measurement, and disclosure issues in financial accounting influence the usefulness of financial reports. She also has research that examines the determinants and consequences of the matching process in the executive labor market. She is excited to be part of McCombs because of the great colleagues and students that give the school such a high reputation. When she’s not teaching or doing research, she can be found walking her dog around Lady Bird Lake or trying out a new restaurant in Austin.

Dain Donelson, Matthew Kubic, and Sara Toynbee.
Apr/May 2024. The SEC’s September Spike: Regulatory Inconsistency within the Fiscal Year.Journal of Accounting and Economics  77(2/3): 101636.

Sarah E. McVay, Edgar Rodriguez-Vazquez, and Sara Toynbee.
May 2024. Experience with Non-GAAP Earnings and Investors’ Pricing of Exclusions.The Accounting Review 99(3): 397-427.

Matthew Kubic and Sara Toynbee. January 2023. Regulator Continuity and Decision-Making Quality: Evidence from SEC Comment Letters. The Accounting Review 98(1):365-398.

The Need to Validate Exogenous Shocks: Shareholder Derivative Litigation, Universal Demand Laws and Firm Behavior. By: Dain C. Donelson, Laura Kettell, John McInnis, Sara Toynbee. Journal of Accounting and Economics. Feb2022, Vol. 73 Issue 1, 101427

Darren Bernard, Weili Ge, Dawn Matsumoto, and Sara Toynbee. 2021. Implied Tradeoffs of Chief Financial Officer Accounting Expertise: Evidence from Firm-Manager Matching. Management Science 67(9), 5776-5799.


Asher Curtis, Sarah McVay, and Sara Toynbee. 2020. The Changing Implications of Research and Development Expenditures for Future Profitability. Review of Accounting Studies 25(2), 405-437.


Asher Curtis, Melissa Lewis-Western, and Sara Toynbee. 2015. Historical Cost Measurement and the Use of DuPont Analysis by Market Participants. Review of Accounting Studies 20(3), 1210-1245.