Sarah Louise Zechman (née Center) is the Tisone Memorial Fellow Professor at the Leeds School of Business, University of Colorado Boulder.
[3] With Catherine Schrand she has shown how accounting fraud emerges full bloom from small initial misstatements by managers who are overconfident of their firms' prospects.
[4][5] With Jonathan Rogers and Douglas Skinner, Zechman has studied the role of media in affecting stock prices and in exacerbating or leveling insider trading advantages in comparison with the average investor.
[6][7] Their paper "Run Edgar Run" exposed an unintentional advantage that the U.S. Securities and Exchange Commission was giving large-paying subscribers by giving them access to insider trading information by a matter of seconds before the general market, leading to a trading advantage for those paying subscribers of 28 basis points over an 81 second period.
After becoming aware of this research, the Chair and Ranking Member of the US Senate's Committee on Banking, Housing, and Urban Affairs formally requested the SEC to investigate its practices for making the information public.