Professor, Financial Accounting, Approved Doctoral Dissertation Supervisor

Office: HH 3103demers

Phone: 519-888-4567 x35944

Email: elizabeth.demers@uwaterloo.ca

CV:  DemersCV


Education and certifications

  • PhD (Business Administration, Accounting) - Stanford University, Stanford, California, United States
  • MSc (Statistics) - Stanford University, Stanford, California, United States
  • MAcc (Master of Accounting) - University of Waterloo, Ontario, Canada
  • Honours BA, Accounting (Economics minor) - University of Waterloo, Ontario, Canada
  • Chartered Accountant (CA)*, Institute of Chartered Accountants of Ontario, Canada
  • Chartered Business Valuator (CBV)*, Canadian Institute of Chartered Business Valuators
  • Certified Management Accountant (CMA)*, Society of Management Accountants of Canada 
  • * retired from membership

Brief biography

Elizabeth has taught and/or presented her research at institutions and conferences in more than 30 countries around the world. Her recent research interests are related to the role of non-financial information (including linguistic measures derived from textual analysis of corporate communications) in assessing and predicting firm performance, and the impact of disclosure and communications on the firm’s cost of capital and stock price crash risk. Her studies have been published in the Journal of Accounting Research, the Journal of Financial Economics, Management ScienceReview of Accounting Studies, the Harvard Business Review, and other top outlets, and they are widely cited in both the academic literature and in the financial press (The Economist, Fortune, Forbes, etc.). Her consulting activities include financial statement analyses and “red flag reviews” for hedge funds and other institutional investors, research and teaching presentations to investment fund managers, and litigation support for the quantification of economic damages.


Teaching

Elizabeth Demers (BA and MAcc, UWaterloo; MSc. and PhD, Stanford University) has taught Masters of Accounting, Masters in Finance, MBAs and Executive MBAs while serving on the faculties of INSEAD (France), the Darden Graduate School of Business (University of Virginia), the University of Rochester, HEC-Lausanne (Switzerland), the Gdańsk University of Technology (Poland), and the University of Michigan.


Research 

Peer-reviewed accounting and finance publications

  • A Rude Awakening: Internet Shakeout in 2000 (with Baruch Lev), 2001, Review of Accounting Studies, Vol. 6, No. 2/3 (June/September): 331-359.
  • The Marketing Role of IPOs: Evidence from Internet Stocks (with Katharina Lewellen), 2003, Journal of Financial Economics, Vol. 68, No. 3 (June): 413-437.
    • Abbreviated version reproduced in Betriebswirtschaftliche Forschung und Praxis, Vol. 58, No. 5 (October 2006): 468-480.
  • IPO Failure Risk (with Philip Joos), 2007 Journal of Accounting Research, Conference Vol. 45, No. 2 (May): 333-371.
  • The Juxtaposition of Social Surveillance Controls with Traditional Organizational Design Components (with Margaret Shackell and Sally Widener), 2008, Contemporary Accounting Research, Vol. 25, No. 2 (Summer): 605-638. Study funded by CIMA.
  • The Role of Accounting Information in a Stock Market Bubble: Evidence from Internet IPOs (with Nilahbra Bhattacharya and Philip Joos), 2010, Journal of Business Finance & Accounting, Vol. 37, No. 3/4: 291-321.
  • Contemporaneous Verification of Language: Evidence from Management Earnings Forecasts (with S. Baginski, C. Wang, and J. Yu), 2016, Review of Accounting Studies, Vol. 21, No. 1 (March): 165-197.
  • Oh What a Beautiful Morning! Diurnal Variations in Economic Agents’ Behavior: Evidence from Conference Calls (with B. Lev and J. Chen), 2018, Management Science, Vol. 64, No. 12 (December): 5899-5924.
  • A Note on Career Concerns and Earnings Management (with C. Wang), 2018, Journal of Business Accounting and Finance Perspectives, forthcoming.
  • Linguistic Tone and the Small Trader (with S. Baginski, A. Kausar, and J. Yu), 2018, Accounting, Organizations and Society (Special Conference Edition on New Corporate Disclosures and New Methods),Vol. 68-69 (July): 21-37.

Working papers and works in progress

  • Corporate Communications Credibility and the Pricing of Textual Sentiment: Evidence from Quarterly Earnings Announcements (with A. Kausar, C. Vega, and R. Wang), September 2019.
  • The Value of Effective Investor Relations: An International Perspectiv, in progress.
  • The Role of Firm-Issued Textual Sentiment in Predicting Future Gross Domestic Product Growth (with F. Gaertner, A. Kausar, L. Steele), in progress.
  • Earnings Quality and the Pricing of Textual Sentiment (with L. Doukakis and A. Kausar), in progress.

Review and editorial activities

Editor:
  • Journal of Business Finance & Accounting 2019 –
Associate Editor:
  • Journal of Business Finance & Accounting 2013 – 2018 Quarterly Journal of Finance & Accounting 2015 –Journal of International Accounting Research 2012 – 2015
Editorial Boards:
  • Accounting & Finance 2012 –
  • European Accounting and Management Review 2014 – Corporate Ownership and Control 2017 –
  • Journal of Business Accounting and Finance Perspectives 2017 – Journal of Business Finance & Accounting 2009 - 2012
  • Journal of International Accounting Research 2011 - 2012
  • The International Journal of Accounting 2013 - 2016

Honors and awards

  • Favorite Professors of the Brightest and Best EMBAs, Poets & Quants for Executives, 2016
  • Runner-up for the 2015 Darden Faculty Diversity Award, 2015 (recognizing a member of the Darden faculty for exceptional contributions to diversity, equity, and inclusion within the
  • Darden community)
  • Tsinghua-INSEAD EMBA Programme Teaching Award (one of Top-3 INSEAD Professors)
  • INSEAD MBA Dean’s Teaching Honor Roll
  • KPMG & UIUC Business Measurement Program – one of six $5000 prize winners in the
  • Competitive Manuscript Competition on Risk Measurement and Disclosure, 2003
  • Simon School Teaching Honor Roll (awarded to top 5 instructors)
  • CIMA grant for project on Strategy and Performance Measurement in New Economy
  • Companies with Sally Widener and Margaret Shackell-Dowell, 2001
  • PAC-10 Doctoral Consortium Fellow, 1996 & 1997
  • American Academic Accounting Association Fellowship Award, 1994
  • Society of Management Accountants of Canada Doctoral Fellowship, 1994-97
Affiliation: 
University of Waterloo

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