FacultyFaculty/Author Profile

Roman L. Weil

University of Chicago
Professor Emeritus, Chicago Booth School of Business
Chicago, IL, USA


Roman L. Weil is an emeritus faculty member of the Chicago Booth School of Business, retired after 45 years on the faculty there. He is currently Visiting Professor at the Stern School of Business at NYU and Program Fellow at Stanford Law School. Weil studies financial literacy and corporate governance. His preliminary work suggested, correctly it turned out, that the financial literacy that corporate board audit committee members have is surprisingly weak and that the gains in shareholder wealth accompanying improvement in such financial literacy are both significant and large. He is now recognized as in expert in financial illiteracy. 

His approach to teaching emphasizes fundamental understanding of the building blocks in accounting (asset, liability, revenue, and expense) that will enable students to keep learning and understanding as the world of business transactions changes over time. "In 20 years, they'll have to understand new transactions, and the accounting for them, which transactions haven't been conceived yet."

Weil co-directs the Chicago/Stanford/Tuck Directors' Consortium, which he cofounded. Weil has designed and implemented continuing education programs for partners at the accounting firms of Andersen and PriceWaterhouseCoopers as well as for employees at Goldman Sachs, Mont-gomery Wards, Merck, and William Blair and for business executives in Great Britain, Hong Kong, and Singapore. Recently, he has been visiting professor at Harvard Law School, Princeton Economics Department, and Carnegie Mellon Tepper School.

Weil has been a CPA in Illinois since 1973 and a CMA from 1974 until his retirement from Chicago Booth in 2008. In 2010 he received certification as a Certified Forensic Accountant. The coauthor of more than 12 textbooks, Weil is the senior editor of, and contributor to, the Litigation Services Handbook, now in its fourth edition. He has published more than 100 articles in academic and professional journals and has served as the principal investigator on various research projects of the National Science Foundation. He has served as editor or associate editor of the Accounting Review, Communications of the Association for Computing Machinery, Management Science, the Journal of Accounting and Economics, and the Financial Analysts Journal.

He has consulted to governmental agencies, including the U.S. Treasury Department and the Securities and Exchange Commission.

Weil has served on the Securities and Exchange Commission Advisory Committee on Replacement Cost Accounting. At the Financial Accounting Standards Board, he has served on two task forces - one on consolidations and the other on interest methods - and on the Financial
Accounting Standards Advisory Council.

He received a bachelor's degree in economics and mathematics from Yale University, then a master's degree in industrial administration and a PhD in economics in 1966 from GSIA/Tepper of Carnegie Mellon University.

Outside of academia, Weil is a grandfather of eight; his interests include sabermetrics, oenometrics, and oenonomy.

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