M.H. Franco Wong

University of Toronto - Rotman School of Management

Professor of Accounting

105 St. George Street

Toronto, Ontario M5S 3E6

Canada

http://www.rotman.utoronto.ca/FacultyAndResearch/Faculty/FacultyBios/Wong.aspx

  • University of Toronto - Rotman School of Management

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    • Tel: 416-946-0729
SCHOLARLY PAPERS

31

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237

Scholarly Papers (31)

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1.

The Eyeballs Have it: Searching for the Value in Internet Stocks

Number of pages: 38 Posted: 15 Feb 2000
Brett Trueman, M.H. Franco Wong and Xiao-Jun Zhang
University of California, Los Angeles (UCLA) - Anderson School of Management, University of Toronto - Rotman School of Management and University of California, Berkeley
Downloads 4,795 (4,334)
Citation 42

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2.

Back to Basics: Forecasting the Revenues of Internet Firms

Number of pages: 37 Posted: 29 May 2000
Brett Trueman, M.H. Franco Wong and Xiao-Jun Zhang
University of California, Los Angeles (UCLA) - Anderson School of Management, University of Toronto - Rotman School of Management and University of California, Berkeley
Downloads 2,312 (13,998)
Citation 31

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3.

Initial Coin Offerings, Blockchain Technology, and White Paper Disclosures

Number of pages: 51 Posted: 12 Oct 2018 Last Revised: 09 May 2019
Chen Feng, Nan Li, M.H. Franco Wong and Mingyue Zhang
University of British Columbia (UBC) - Faculty of Applied Science, University of Toronto - Rotman School of Management, University of Toronto - Rotman School of Management and University of Waterloo - School of Accounting and Finance
Downloads 1,954 (18,364)
Citation 30

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Initial Coin Offerings, Blockchain, Distributed Ledger, Smart Contract, Cryptocurrency, Digital Tokens, White Paper, Disclosures, Securities Regulation

4.

Foreign Exchange Sensitivity-Analysis Disclosures and Market-Based Risk Measures

Number of pages: 46 Posted: 22 Jan 2004
Visarut Sribunnak and M.H. Franco Wong
Chulalongkorn University and University of Toronto - Rotman School of Management
Downloads 1,529 (26,738)
Citation 3

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Derivative financial instruments, SEC market risk disclosures, sensitivity analysis, foreign exchange risk, exchange rate exposure, stock return volatility

5.

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Downloads 1,454 (28,906)
Citation 7

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Number of pages: 51 Posted: 21 May 2004
M.H. Franco Wong and Feng Li
University of Toronto - Rotman School of Management and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 1,454 (28,410)
Citation 7

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Employee stock options, warrant-pricing model, equity valuation

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Posted: 31 Mar 2005
M.H. Franco Wong and Feng Li
University of Toronto - Rotman School of Management and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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6.

Anomalous Stock Returns Around Internet Firms' Earnings Announcements

Downloads 1,214 (37,512)
Citation 10

Anomalous Stock Returns Around Internet Firms' Earnings Announcements

JAE Boston Conference June 2001
Number of pages: 41 Posted: 28 Apr 2001
Brett Trueman, M.H. Franco Wong and Xiao-Jun Zhang
University of California, Los Angeles (UCLA) - Anderson School of Management, University of Toronto - Rotman School of Management and University of California, Berkeley
Downloads 1,214 (36,901)
Citation 10

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Anomalous Stock Returns Around Internet Firms' Earnings Announcements

Journal of Accounting and Economics, Vol. 34, Nos. 1-3, pp. 249-271, January 2003
Posted: 05 Feb 2003
Brett Trueman, M.H. Franco Wong and Xiao-Jun Zhang
University of California, Los Angeles (UCLA) - Anderson School of Management, University of Toronto - Rotman School of Management and University of California, Berkeley

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capital market, internet, stock returns, earnings announcement, price pressure

7.

Analyst Interest as an Early Indicator of Firm Fundamental Changes and Stock Returns

Downloads 951 (53,265)
Citation 4

Analyst Interest as an Early Indicator of Firm Fundamental Changes and Stock Returns

The Accounting Review: May 2015, Vol. 90, No. 3, pp. 1049-1078.
Number of pages: 49 Posted: 05 May 2012 Last Revised: 25 Jul 2017
Michael J. Jung, M.H. Franco Wong and Frank Zhang
University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management and Yale School of Management
Downloads 632 (90,297)
Citation 2

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analyst interest, firm fundamentals, analyst coverage, institutional ownership, trading volume, stock returns

Analyst Interest as an Early Indicator of Firm Fundamental Changes and Stock Returns

The Accounting Review: May 2015, Vol. 90, No. 3, pp. 1049-1078.
Number of pages: 49 Posted: 14 Aug 2014 Last Revised: 25 Jul 2017
Michael J. Jung, M.H. Franco Wong and Frank Zhang
University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management and Yale School of Management
Downloads 319 (202,966)
Citation 2

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analyst interest, firm fundamentals, analyst coverage, institutional ownership, trading volume, stock returns

8.

Earnings Management and its Pricing Implications: Evidence from Banks' Adjustments to the Valuation Allowance for Deferred Tax Assets Under SFAS 109

Number of pages: 35 Posted: 17 Jul 2000
Catherine M. Schrand and M.H. Franco Wong
University of Pennsylvania - Accounting Department and University of Toronto - Rotman School of Management
Downloads 937 (54,380)
Citation 4

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9.

Buy-Side Analysts and Earnings Conference Calls

Downloads 848 (62,389)
Citation 31

Buy-Side Analysts and Earnings Conference Calls

Journal of Accounting Research, June 2018, Vol. 56, Issue 3, pp. 913-952.
Number of pages: 55 Posted: 24 Feb 2016 Last Revised: 26 May 2018
Michael J. Jung, M.H. Franco Wong and Frank Zhang
University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management and Yale School of Management
Downloads 681 (81,967)
Citation 3

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Buy-side analysts, institutional investors, sell-side analysts, earnings conference calls

Buy-Side Analysts and Earnings Conference Calls

Journal of Accounting Research, June 2018, Vol. 56, Issue 3, pp. 913-952.
Number of pages: 55 Posted: 27 Jul 2017 Last Revised: 26 May 2018
Michael J. Jung, M.H. Franco Wong and Frank Zhang
University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management and Yale School of Management
Downloads 167 (384,223)
Citation 28

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Buy-side analysts, institutional investors, sell-side analysts, earnings conference calls

Buy‐Side Analysts and Earnings Conference Calls

Journal of Accounting Research, Vol. 56, No. 3, 2018
Posted: 15 Aug 2018
Michael J. Jung, M.H. Franco Wong and Frank Zhang
University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management and Yale School of Management

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Buy-Side Analysts, Institutional Investors, Sell-Side Analysts, Earnings Conference Calls

10.

Accounting Adjustments and the Valuation of Financial Statement Note Information in 10-K Filings

Downloads 843 (62,886)
Citation 9

Accounting Adjustments and the Valuation of Financial Statement Note Information in 10-K Filings

Accounting Review, Forthcoming
Number of pages: 46 Posted: 07 Mar 2011
Gus De Franco, M.H. Franco Wong and Yibin Zhou
Purdue University, University of Toronto - Rotman School of Management and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 542 (109,731)
Citation 3

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Accounting adjustments, financial statement note, 10-K filings, equity analysts, target price estimates

Accounting Adjustments and the Valuation of Financial Statement Note Information in 10-K Filings

Number of pages: 47 Posted: 17 Mar 2010
Gus De Franco, M.H. Franco Wong and Yibin Zhou
Purdue University, University of Toronto - Rotman School of Management and University of Texas at Dallas - Naveen Jindal School of Management
Downloads 301 (216,183)
Citation 6

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Accounting adjustments, financial statement note information, 10-K filings, equity analysts, target price estimates

11.

Analyst Following Along the Supply Chain

INSEAD Working Paper No. 2014/21/ACC
Number of pages: 45 Posted: 18 Mar 2014
Yuyan Guan, M.H. Franco Wong and Yue Zhang
Nanyang Business School, Nanyang Technological University, University of Toronto - Rotman School of Management and Lingnan University
Downloads 831 (64,873)
Citation 37

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Supply Chain, Information Transfers, Analyst Following, Forecast Revisions, Forecast Accuracy

12.

CEO Optimism, Analyst Rationality, and Earnings Forecast Bias

Number of pages: 43 Posted: 30 Sep 2005 Last Revised: 10 Dec 2009
M.H. Franco Wong and Frank Zhang
University of Toronto - Rotman School of Management and Yale School of Management
Downloads 673 (84,400)
Citation 1

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Managerial optimism, analyst forecast, rationality

13.

Within-Firm Information Frictions and the Role of Managerial Reporting Quality in Investment Efficiency

Columbia Business School Research Paper No. 4286813
Number of pages: 57 Posted: 14 Dec 2022 Last Revised: 13 Mar 2024
Philip G. Berger, Feng Li, Lisa Yao Liu and M.H. Franco Wong
University of Chicago - Chookaszian Accounting Research Center, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University, Columbia University - Columbia Business School and University of Toronto - Rotman School of Management
Downloads 669 (85,078)

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Managerial reporting, information asymmetry, information uncertainty, Sarbanes-Oxley, internal controls, investment efficiency, segment data.

14.

Regulations and Brain Drain: Evidence From Wall Street Star Analysts’ Career Choices

Management Science, Forthcoming, Singapore Management University School of Accountancy Research Paper Series Vol. 6, No. 3 Paper No 2018-86
Number of pages: 52 Posted: 22 Sep 2018
Yuyan Guan, Congcong Li, Hai Lu and M.H. Franco Wong
Nanyang Business School, Nanyang Technological University, Duquesne University - A.J. Palumbo School of Business Administration, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 524 (115,939)
Citation 4

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Analysts, Turnover, Brain Drain, The Global Settlement, Policy and Regulations, Investment Banks

15.

Analyst Following Along the Supply Chain and Forecast Accuracy

Number of pages: 47 Posted: 06 Mar 2011
Yuyan Guan, M.H. Franco Wong and Yue Zhang
Nanyang Business School, Nanyang Technological University, University of Toronto - Rotman School of Management and Lingnan University
Downloads 474 (130,851)
Citation 3

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Supply chain, Information transfers, Analyst following, Forecast revisions, Forecast accuracy

16.

The Effect of Financial Reporting Quality on Corporate Investment Efficiency: Evidence from the Adoption of SFAS No. 123R

Forthcoming in Management Science
Number of pages: 47 Posted: 04 Jan 2011 Last Revised: 02 Feb 2018
Yiwei Dou, M.H. Franco Wong and Baohua Xin
New York University (NYU) - Department of Accounting, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 437 (144,114)
Citation 3

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Recognition; Disclosure; Reliability; Financial reporting quality; Corporate investment; Accounting regulation; Employee stock options

17.

Analysts’ Underreaction to Employee Business Outlooks

Rotman School of Management Working Paper No. 3409397
Number of pages: 48 Posted: 24 Jun 2019
Nan Li, M.H. Franco Wong and Frank Zhou
University of Toronto - Rotman School of Management, University of Toronto - Rotman School of Management and University of Pennsylvania - The Wharton School
Downloads 361 (178,951)
Citation 6

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employee business outlooks, social media, analyst forecasts, fundamental analysis, underreaction, market anomaly

18.

Conflict-of-Interest Reforms and Investment Bank Analysts’ Research Biases

Journal of Accounting, Auditing and Finance, Forthcoming
Number of pages: 49 Posted: 06 Aug 2010
Yuyan Guan, Hai Lu and M.H. Franco Wong
Nanyang Business School, Nanyang Technological University, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 351 (184,542)
Citation 1

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Analysts, Regulation, Conflict-of-interest, Global Settlement, Investment bank, Analyst bias

19.

Understanding Sentiment Through Context

Rotman School of Management Working Paper No. 4316229, Singapore Management University School of Accountancy Research Paper No. 2023-160
Number of pages: 80 Posted: 02 Jan 2023
Richard M. Crowley and M.H. Franco Wong
Singapore Management University - School of Accountancy and University of Toronto - Rotman School of Management
Downloads 308 (212,578)
Citation 1

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Sentiment analysis, context, machine learning, aggregation, lasso regression, text analysis

20.

Do Buy-Side Analysts in Earnings Conference Calls Manipulate Stock Prices?

Journal of Corporate Finance, December 2024, Vol. 89
Number of pages: 58 Posted: 10 Sep 2024 Last Revised: 05 Jan 2025
Gang Hu, Michael J. Jung, M.H. Franco Wong, Danlei Bonnie Yu and Frank Zhang
Hong Kong Polytechnic University - School of Accounting and Finance, University of Delaware - Alfred Lerner College of Business and Economics, University of Toronto - Rotman School of Management, Soochow University and Yale School of Management
Downloads 205 (319,432)

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Buy-Side Analysts, Conference Calls, Stock Prices, Stock Returns, Manipulation

21.

Conflict-of-Interest Reforms and Brain Drain in Investment Banks

Number of pages: 44 Posted: 21 Sep 2010
Yuyan Guan, Hai Lu and M.H. Franco Wong
Nanyang Business School, Nanyang Technological University, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 199 (328,414)
Citation 3

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Securities analysts, Analyst turnover, Brain Drain, Conflict of interest regulations, Global Settlement, Sarbanes-Oxley Act, Government policy and regulation, Investment banks

22.

Estimating Exchange Rate Exposures: Some "Weighty" Issues

NBER Working Paper No. w7497
Number of pages: 46 Posted: 28 Apr 2000 Last Revised: 28 Dec 2022
Gordon M. Bodnar and M.H. Franco Wong
Johns Hopkins University - Paul H. Nitze School of Advanced International Studies (SAIS) and University of Toronto - Rotman School of Management
Downloads 133 (464,292)
Citation 7

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23.

Regulations and Brain Drain: Evidence from Wall Street Star Analysts’ Career Choices - Online Appendix

Management Science, Forthcoming.
Number of pages: 25 Posted: 08 Oct 2018
Yuyan Guan, Congcong Li, Hai Lu and M.H. Franco Wong
Nanyang Business School, Nanyang Technological University, Duquesne University - A.J. Palumbo School of Business Administration, University of Toronto - Rotman School of Management and University of Toronto - Rotman School of Management
Downloads 98 (592,062)

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analysts, turnover, brain drain, the Global Settlement, policy and regulations, investment banks

24.

Wisdom of Crowds along the Supply Chain: Causal Evidence from Trade Credit

HEC Paris Research Paper No. ACC-2023-1498
Posted: 05 Oct 2023 Last Revised: 21 Apr 2024
Jeong-Bon Kim, Albert Mensah, Vicki Wei Tang and M.H. Franco Wong
Simon Fraser University, HEC Paris - Accounting and Management Control Department, Georgetown University - Department of Accounting and Business Law and University of Toronto - Rotman School of Management
Downloads 0 (1,339,792)

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supply chain, trade credit, information asymmetry, alternative data, social media

25.

Language and Management Forecasts around the World

Contemporary Accounting Research, Forthcoming, Rotman School of Management Working Paper No. 3886553
Posted: 19 Jul 2021
Yuyan Guan, Zheng Wang, M.H. Franco Wong and Xiangang Xin
Nanyang Business School, Nanyang Technological University, City University of Hong Kong, University of Toronto - Rotman School of Management and The Chinese University of Hong Kong (CUHK)

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Language, linguistic relativity principle, future time reference, management earnings forecasts, foreign institutional ownership, cross-listing

26.

Employee Stock Options, Eps Dilution, and Stock Repurchases

Posted: 28 Nov 2003
Daniel A. Bens, Venky Nagar, Douglas J. Skinner and M.H. Franco Wong
INSEAD, University of Michigan, Stephen M. Ross School of Business, The University of Chicago - Booth School of Business and University of Toronto - Rotman School of Management

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earnings dilution, earnings management, earnings-per-share (EPS), employee stock options, stock buybacks, stock repurchases

27.

Earnings Management Using the Valuation Allowance for Deferred Tax Assets Under SFAS 109

Posted: 22 Jul 2003
Catherine M. Schrand and M.H. Franco Wong
University of Pennsylvania - Accounting Department and University of Toronto - Rotman School of Management

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Earnings management, deferred taxes, discretion, banks

28.

Estimating Exchange Rate Exposures: Issues in Model Structure

Financial Management, Vol. 32, No. 1, Spring 2003
Posted: 23 Jun 2003
Gordon M. Bodnar and M.H. Franco Wong
Johns Hopkins University - Paul H. Nitze School of Advanced International Studies (SAIS) and University of Toronto - Rotman School of Management

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29.

The Association between SFAS No. 119 Derivatives Disclosures and the Foreign Exchange Risk Exposure of Manufacturing Firms

Posted: 08 Jan 2001
M.H. Franco Wong
University of Toronto - Rotman School of Management

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SFAS No. 119, Accounting Disclosures, Notional Amount, Fair Value, Foreign Exchange Risk Exposure, Foreign Exchange Derivatives

30.

The Usefulness of SFAS 119 Derivatives Disclosures for Assessing the Foreign Exchange Risk Exposure of Manufacturing Firms

Posted: 01 Sep 1997
M.H. Franco Wong
University of Toronto - Rotman School of Management

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31.

The Usefulness of Sfas 119 Disclosures About Derivatives Risk: the Case of Foreign Exchange Derivatives

Posted: 09 Sep 1996
M.H. Franco Wong
University of Toronto - Rotman School of Management

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