Publications

March 2010
Article

Information Content of Insider Trades before and after the Sarbanes-Oxley Act

By: Francois Brochet

This paper examines the information content of Form 4 filings under the more timely disclosure regime introduced by Section 403 of the Sarbanes-Oxley Act of 2002 (SOX). Abnormal returns and trading volumes around filings of insider stock purchases are significantly... View Details

Keywords: Stocks; Corporate Disclosure; Governing Rules, Regulations, and Reforms; Government Legislation; Lawsuits and Litigation; Market Transactions; Volume; Sales

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August 2012 (Revised July 2017)
Case

Netflix: Valuing a New Business Model

By: Francois Brochet, Suraj Srinivasan and Michael Norris

In autumn 2011, Netflix was working to right the ship after publicly stumbling through a price hike and strategic shift and then retreat. The company was changing its business model to focus on streaming video service rather than the DVDs by mail that had brought the... View Details

Keywords: Performance Measurement; Online Business; Asset Recognition; Accounting; Performance Evaluation; Online Technology; Motion Pictures and Video Industry; United States; Canada; Latin America; West Indies

October 2009 (Revised April 2010)
Supplement

Societe Generale (B): The Jerome Kerviel Affair

By: Francois Brochet

This case illustrates the tension/balance that firms with complex and risky business models must consider in designing their internal controls. It describes the environment in which a derivatives trader engaged in massive directional positions on major European stocks... View Details

Keywords: Risk Management; Governance Controls; Crisis Management; Financial Services Industry

October 2011 (Revised January 2012)
Case

LinkedIn Corporation

By: Francois Brochet and James Weber

The case is set at the end of the first public trading day of LinkedIn, an online professional network company. It provides information on the company's business model, financial statements, competitive landscape, and IPO terms, to help the reader critically assess the... View Details

Keywords: Initial Public Offering; Growth and Development; Earnings Management; Risk Management; Valuation; SWOT Analysis; Emerging Markets; Business Model; Information Technology; Competitive Strategy; Web Services Industry

February 2013 (Revised October 2013)
Case

Investindustrial Exits Ducati

By: Francois Brochet and Karol Misztal

In early 2012, Investindustrial, a European private equity group, publicly announced their intention to sell their 76.7% stake in Ducati Motor Holding S.p.A., an iconic Italian producer of sport performance motorcycles. The decision followed a six-year turnaround... View Details

Keywords: Cost vs Benefits; Private Equity; Valuation; Investment Return; Brands and Branding; Financial Services Industry; Motorcycle Industry; Hong Kong; Italy

June 2012
Article

Short Termism: Don't Blame the Investors

By: Francois Brochet, George Serafeim and Maria Loumioti

The article presents research on executives and corporation investor relations. A study is conducted of the language used by executives in conference calls discussing earnings with investors and financial analysts. A correlation was found between the use of language... View Details

Keywords: Financial Management; Business Earnings; Managerial Roles; Investment; Agency Theory; Communication Strategy; Business and Shareholder Relations

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10 Nov 2009
First Look

First Look: Nov. 10

Author:Francois Brochet Publication:The Accounting Review (forthcoming) Abstract This paper examines the information content of Form 4 filings under the more timely disclosure regime introduced by Section... View Details

Keywords: Martha Lagace

Web

Winners & Runners-Up | New Venture Competition

Enterprise Track, 2024 New Venture Competition video Play Video duration: 1:32 2024 New Venture Competition Runner-Up, Social Enterprise Track: Trans Health HQ Trans Health HQ is a tool built by the trans community that addresses... View Details

February 2012
Teaching Note

LinkedIn Corporation (TN)

By: Francois Brochet

05 Oct 2010
First Look

First Look: October 5, 2010

accounting "reliability." Broadly, the evidence, by highlighting the influence of standard setters, can broaden our understanding of the political economy of standard setting beyond the role of corporate lobbying. Download the... View Details

Keywords: Sean Silverthorne

April 2013
Case

Recognizing Online Revenues

By: Francois Brochet

April 2010
Teaching Note

Société Générale: The Kerviel Affair (TN) (A) and (B)

By: Francois Brochet

Teaching Note for 110029 and 110030. View Details

Keywords: Consulting Industry; Europe

June 2013
Teaching Note

Investindustrial Exits Ducati

By: Francois Brochet

Keywords: Accounting; Motorcycle Industry; Europe

April 2009
Teaching Note

Tokyo AFM (TN)

By: Francois Brochet

Teaching Note for [109056]. View Details

Keywords: Accounting; Economics; Organizational Change and Adaptation; Revenue; Insurance Industry; Japan

March 2009 (Revised October 2010)
Case

Tokyo AFM

By: Francois Brochet

This case was written as the financial accounting portion of the final exam for a first-year MBA course at Harvard Business School. The goal was to test students' ability to apply major concepts taught during the course to an industry which they had not covered, but... View Details

Keywords: Accounting; Decision Choices and Conditions; Economics; Insurance; Insurance Industry; Japan