FRANCESCO GROSSETTI

I am an Assistant Professor of Accounting Analytics and Data Science. I graduated in Astrophysics and Space Physics from Università Degli Studi di Milano-Bicocca and hold a PhD in Applied and Computational Statistics from Politecnico di Milano. 

My research mainly uses computational and statistical techniques to understand firms’ behavior and investors perception. In particular, I adopt and develop Natural Language Processing methods and language models to understand the effect of financial and non-financial disclosure over key financial performance. In addition, I also use Computer Vision methods based on Deep Learning to extract the visual information from financial disclosure. Finally, I study the economic effects of Blockchain and other types of Distributed Ledger Systems and how these can facilitate the development of new streams of research together with a change in the practice of Accounting. I am an active developer of open-source tools.

Beyond research, I enjoy music and photography. I love to watch documentaries and love everything that is sci-fi and tech. In particular, I like to discover new software that is both open-source and useful. Last, space has always been my passion and I try to keep myself up-to-date with the latest news from the outer worlds.

Academic Positions

• 2018 - Present: Assistant Professor - Department of Accounting, Bocconi University
• 2017 - 2018: Postdoctoral Fellow  - Department of Accounting, Bocconi University
• 2013 - 2017: PhD Candidate - Department of Mathematics, Politecnico di Milano

Affiliations

• Bocconi Institute of Data Science and Analytics
• Baffi-Carefin - Algorand Fintech Lab
• Baffi-Carefin - MNIST: Monetary Innovation, New Technologies and Society
• American Accounting Association
• European Accounting Association

Financial Accounting and Disclosure

• Natural Language Processing applications to extract meaningful and potentially latent information.
• Firms' behavior and investors' perception. 
• Multi-state models for default prediction and firms' dynamic.
• Anti-corruption and Sustainability

Blockchain, Decentralized Finance and Smart Contracting Protocols

• Economic effects of Blockchain and other types of Distributed Ledger Systems.
• DeFi collateralization and liquidation protocols.
• Smart Contract development and regulation.

Algorithms and Open Source Software

• Definition of optimal conditions for Latent Dirichlet Allocation models
• Development of efficient and scalable algorithms for data mining. 
• Development of R libraries.

Published Papers

• Covid-19 and investors' interpretation of earnings news. Finance Research Letters (forthcoming), with C. D'Augusta.
• A Statistical Approach for Optimal Topic Model Identification. Journal of Machine Learning Research, 23(58):1-20, 2022, with Craig Lewis.
• Blockchain and other Distributed Ledger Technologies: where is the Accounting? Journal of Accounting and Public Policy, 40(5), 2021, with Miles Gietzmann.
• Hypoalbuminemia as a Marker of Protein Metabolism Disarrangement in Patients with Stable Chronic Heart Failure. Minerva Medica, 111(3):226-238, 2020, with E. Pasini, L. Comini, F.S. Dioguardi, A. Olivares, R. Aquilani, S. Scalvini.
• Impact of in-hospital Cardiac Rehabilitation on Mortality and Readmissions in Heart Failure: A Population Study in Lombardy Italy, from 2005 to 2012. European Journal of Preventive Car- diology, 26(8):808-817, 2019, with S. Scalvini, A.M. Paganoni, M.T. La Rovere, R. Pedretti, M. Frigerio.
• A multi-state approach to hospital readmissions of patients affected by chronic heart failure: the value added by administrative data. Health Care Management Science, 21(2):281-291, 2018, with Francesca Ieva and Anna Paganoni.
• Functional recovery after rotator cuff repair for full thickness tear: the role of biceps surgery. Journal of Sport Rehabilitation, 1;27(1):83-93, 2018, with B. Gialanella, M. Mazza, L. Danna, L. Comini.
• Isthereanyadditionaleffectoftele-assistanceonlongtermcareprogramsinhypercapnicCOPD patients? Journal of Chronic Obstructive Pulmonary Disease, 3(5):576-8, 2016, with M. Vitacca, M. Paneroni, N. Ambrosino.
• Hα3: an Hα imaging survey of HI selected galaxies from ALFALFA. II. Star formation properties of galaxies in the Virgo cluster and surroundings. Astronomy & Astrophysics, 553(A89):13, 2013, with G. Gavazzi, M. Fumagalli, M. Fossati, V. Galardo, A. Boselli, R. Giovanelli, M.P. Haynes.
• Hα3: an Hα imaging survey of HI selected galaxies from ALFALFA. I. Catalogue in the Local Supercluster. Astronomy & Astrophysics, 545(A16), 2012, with G. Gavazzi, M. Fumagalli, V. Galardo, A. Boselli, R. Giovanelli, M.P. Haynes, and S. Fabello.

Under Review Papers

• Environmental Awareness and Shareholder Proposals: The Case of the Deepwater Horizon Oil Spill Disaster, with C. D’Augusta and C. Imperatore. (2nd round Revise & Resubmit). 
• Risk Guidance and Anti-Corruption Language: Evidence from Corporate Codes of Conduct, with O. Bogachek and M. Gietzmann (Revise & Resubmit). 

Working Papers

• Investor Inattention, Financial Narrative, and Tone-Based Heuristics, with M. Gietzmann and C. Lewis.
• Risk Disclosure and (in-)Effective Tax Planning, with O. Bogachek, P. Demere, and A. DeVito
• On the Non-Linear Relevance of Narrative Tone in MD&A Filings, with O. Bogacheck.
• Do Firms Speak ESG and Do Investors Listen? Information content and market effects of mandatory non-financial disclosures. with A. Caglio, A. Pisciella, and G. Melloni.

Books

• Python for non-Pythonians: How to Win Over Programming Languages. Egea Editore, with G. Rubera.