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Liz holds an M.S. in Statistics and a Ph.D. in Business Administration, both from Stanford University, as well as B.A. and Masters of Accounting degrees from the University of Waterloo (Ontario, Canada). Demers is also a Canadian Chartered Accountant, Certified Management Accountant and a Chartered Business Valuator. Before pursuing her Ph.D., Demers practiced as a Chartered Accountant specializing in business valuations and litigation accounting. Demers' consulting activities include litigation support for the quantification of economic damages in accounting fraud and high tech industry cases, and the analysis of financial statements and accounting red flag reviews for hedge funds and other investment managers. Prior to joining INSEAD, she taught MBA and Executive MBA courses at the Wm. E. Simon School at the University of Rochester, where she was named to the Teaching Honor Roll on numerous occasions.
Demers' current research interests broadly relate to accounting and economic issues concerning high-tech companies. Her studies investigate IPO failure prediction, technology stock market bubbles, Internet stock valuations, the marketing role of IPOs, revenue recognition post-SAB 101, and strategy and performance measurement in New Economy companies. Other research interests include corporate equity valuations and risk management activities in the property-casualty insurance industry, for which she was one of six winners of the KPMG/University of Illinois at Urbana-Champaign Competitive Manuscript Competition. Her studies have been published in the top academic accounting and finance journals, including the Review of Accounting Studies and the Journal of Financial Economics. Her work has also been cited in Fortune, Forbes, The Industry Standard, eCompany, and Money magazine, and her research has been funded by the Chartered Institute of Management Accountants (C.I.M.A.).
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