Madhav V. Rajan is the Gregor G. Peterson Professor of Accounting and area coordinator for Accounting at the Graduate School of Business, Stanford University. He is also Professor of Law (by courtesy) at Stanford Law School. Rajan received his undergraduate degree in Commerce from the University of Madras, India, and his MS in Accounting, MBA, and Ph.D degrees from the Graduate School of Industrial Administration at Carnegie Mellon University. In 1990, his dissertation won the Alexander Henderson Award for Excellence in Economic Theory. Rajan's primary area of research interest is the economics-based analysis of management accounting issues, especially as they relate to internal control cost allocation, capital budgeting quality management, supply chain, and performance systems in firms. He has published his research in leading accounting and operations management journals including The Accounting Review, Review of Financial Studies, Journal of Accounting Research, and Management Science. In 2004, he received the Notable Contribution to Management Accounting Literature award. Rajan has served as an editor of The Accounting Review for the past six years. He is an associate editor for both the Accounting and Operations areas for Management Science, and for the Journal of Accounting, Auditing and Finance. He is a member of the Management Accounting section of the American Accounting Association and has twice been a plenary speaker at the AAA Management Accounting Conference.Rajan has won several teaching awards at Wharton and Stanford, including the David W. Hauck Award, the highest undergraduate teaching honor at Wharton. Rajan teaches in a variety of executive education programs including the Stanford Executive Program, the National Football League for Managers, and the National Basketball Players Association Program.