Earlier quoted context omitted.
My bet is that her expertise in English is vast and noteworthy. I don't deify the degree, but I certainly deify the accomplishment of earning a PhD. The fact that as an English PhD she was able to even get a job, much less a high paying one certainly implies that she's an expert in her field. I'm not arguing about her pay, that's up to the market. However, the condescending tone of your post shows that you have zero…
"PhD school (accounting)" that's an interesting choice. What kind of research or work does she do?
In her case she overlaps very heavily with behavioral economics (think freakonomics, predictably irrational, etc...). It can be pretty amusing watching these academics fight over what is in the realm of behavioral accounting and what is within economics. No one really knows;)
There is a capital markets side of accounting research which is much more focused on the analysis of accounting in the wild.
It is hard to sort of put your finger on what accounting research is. It does exist tho:)