Rotman School of Management

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M. H. Franco Wong

M. H. Franco Wong

Professor of Accounting
Director, Faculty Recruiting

Degrees:

PhD, University of Pennsylvania
MA, Simon Fraser University
BA, University of Lethbridge

Phone:

416.946.0729

Bio

Franco Wong is a Professor of Accounting and Director, Faculty Recruiting at Rotman. His research focuses on the production and dissemination of accounting information and the use of accounting information for valuation and contracting purposes. He has written articles on the disclosures about derivatives financial instruments; the pricing of Internet stocks; the effect of employee stock option accounting on share repurchases and corporate investment; the incorporation of employee stock option dilution into equity valuation; the impact of securities regulations on equity analysts and cross-listed companies; the role of equity analysts in the pricing of financial statement note information; blockchain and initial coin offerings. 

Academic Positions

  • 2018-19

    Director of Faculty Recruiting, Rotman School of Management, University of Toronto

  • 2015-

    Professor of Accounting, Rotman School of Management, University of Toronto

  • 2012-14

    Associate Professor of Accounting and Control, INSEAD

  • 2006-15

    Associate Professor, Rotman School of Management (on unpaid leave, 2012-14)

  • 2014-16

    CPA Ontario Professor of Financial Accounting, Rotman School of Management

  • 2011-14

    CMA Ontario Professor of Accounting, Rotman School of Management

  • 2001-06

    Assistant Professor, Graduate School of Business, University of Chicago

  • 1997-2001

    Assistant Professor, Haas School of Business, University of California at Berkeley

Selected Publications - Papers

Selected Publications - Books and Chapters

  • Financial Accounting using IFRS, Second Edition

    by Wong, Dyckman, Hanlon, Magee, and Pfeiffer

    Cambridge Business Publishers

    2017

  • Financial Accounting, First IFRS Edition

    by Wong, Dyckman, Magee, and Pfeiffer

    Cambridge Business Publishers

    2015

Featured Work

Initial Coin Offerings, Blockchain Technology, and White Paper Disclosures

by Chen Feng, Nan Li, Barry Lu, Franco Wong, and Mingyue Zhang. Available at SSRN: https://ssrn.com/abstract=3256289

Abstract: We examine disclosures made by issuers of initial coin offerings (ICOs) in the so-called “white paper” and use them to rate the blockchain platforms being adopted or developed by the ICO issuers. First, we find that most ICOs receive a low rating. In fact, over half of the ICOs actually do not need a blockchain. Second, ICO projects with a higher rating raised more funds over the ICO period, after controlling for whether the issuers also disclose information on their business plans, founding teams, token distributions, use of proceeds, etc. Furthermore, highly-rated ICOs are more likely to exceed the minimum funding target. These results are consistent with ICO token buyers/investors taking into consideration the underlying blockchain technology of the ICO projects when making their purchasing/investing decisions. Since the white paper is the main source of ICO information, our findings imply that the credibility of this information is important to protect the interests of ICO buyers/investors and to ensure the long-term viability of ICO as a capital-raising tool for blockchain-based ventures.

Honors and Awards

  • 2015-2020

    Insight Grant, Social Sciences and Humanities Research Council of Canada

  • 2015

    Rotman School of Management Teaching Award (MBA program), University of Toronto

  • 2012

    Excellence in Teaching Award (MBA program), University of Toronto (Rotman)

  • 2011-2014

    Standard Research Grant, Social Sciences and Humanities Research Council of Canada

  • 2008-2011

    Standard Research Grant, Social Sciences and Humanities Research Council of Canada

  • 2006-2008

    Connaught Award, University of Toronto

  • 2003-2004

    William Ladany Faculty Research Scholar, University of Chicago (Booth)

  • 2003-2004

    Ernest R. Wish Accounting Research Award, University of Chicago (Booth)

  • 1999-2001

    Club 6 for Teaching Excellence (MBA Program), University of California at Berkeley (Haas)

  • 1998-2001

    Faculty Research Grant, University of California at Berkeley

Academic / Professional Service

  • 2013-

    Program Committee Member, The MIT Asia Conference in Accounting

  • 2012-2013

    President, Chinese Accounting Professors' Association of North America (CAPANA)

  • 2013

    Co-organizer, The Inaugural INSEAD Accounting Symposium, INSEAD

  • 2013

    Co-organizer, The 6th CAPANA Research Conference, University of Hong Kong

  • 2012

    Co-organizer, The 5th CAPANA Research Conference, Xi'an Jiaotong University

  • 2008-2011

    Co-organizer, The Annual Toronto Accounting Research Conference, Rotman School of Management

  • 2007

    Organizer, The First Toronto Accounting Research Conference, Rotman School of Management

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