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Pepa KRAFT

Associate Professor

Accounting and Management Control

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Biography

Pepa Kraft received her PhD in Accounting from the University of Chicago Booth School of Business, her M.Sc. in Banking and Finance from HEC University of Lausanne, and her B.Sc. with Honours in Accounting and Finance from the London School of Economics. Her research focuses on the role of accounting in credit markets, credit rating agencies, off-balance sheet financing and disclosure issues in financial reporting. She has taught courses on financial reporting and financial statement analysis at Chicago Booth, Stern and Wharton. Before joining academia, she has held posts at Deutsche Bank and JPMorgan in Corporate Equity Derivatives and Mergers & Acquisitions Advisory. She is a Chartered Financial Analyst and a member of the American Accounting Association and European Accounting Association. 

Scientific articles

Do Rating Agencies Cater? – Evidence from Rating-Based Contracts

Journal of Accounting and Economics, April-May 2015, vol. 59, n° 2-3, pp 264-283,

Rating Agency’s Adjustments to GAAP Financial Statements and Their Effect on Ratings and Credit Spreads

Accounting Review (The), March 2015, vol. 90, n° 2, pp 641-674,

The Role of Accounting Accruals in Chinese Firms

China Accounting and Finance Review, 2014, vol. 16, n° 2, pp 148-154,

Financial Statement Comparability and Credit Risk

Review of Accounting Studies, 2013, vol. 18, n° 3, pp 783-823, (in coll. with S. KIM, S. G. RYAN)

Scientific articles

Do Rating Agencies Cater? – Evidence from Rating-Based Contracts

Journal of Accounting and Economics, April-May 2015, vol. 59, n° 2-3, pp 264-283,

Rating Agency’s Adjustments to GAAP Financial Statements and Their Effect on Ratings and Credit Spreads

Accounting Review (The), March 2015, vol. 90, n° 2, pp 641-674,

The Role of Accounting Accruals in Chinese Firms

China Accounting and Finance Review, 2014, vol. 16, n° 2, pp 148-154,

Financial Statement Comparability and Credit Risk

Review of Accounting Studies, 2013, vol. 18, n° 3, pp 783-823, (in coll. with S. KIM, S. G. RYAN)

Education

  • Ph.D., Accounting, The University of Chicago, Booth School of Business - USA
  • MSc Banking and Finance, HEC Lausanne - Switzerland

Academic appointments

Academic responsabilities at HEC

  • 2017- Member of GREGHEC (CNRS) HEC Paris
  • 2017- Associate Professor, Accounting and Management Control HEC Paris

External Academic Responsabilities

  • 2010-2017 Assistant Professor, Accounting NYU Stern School of Business
  • 2012-2013 Visiting Faculty The Wharton School, University of Pennsylvania

Scientific Activities

Membership in Academic or Professional Organisation

  • French Accounting Association
  • European Accounting Association
  • American Accounting Association

Editorial activities

  • Ad hoc referee for Journal of Accounting Research; Journal of Accounting Economics; European Accounting Review; Review of Accounting Studies; Contemporary Accounting Research; Management Science; Accounting Horizons; The Accounting Review; Research Grants Council Hong Kong; Journal of Financial Reporting; Journal of Law, Finance Accounting; Law Policy; Financial Accounting Reporting Section; American Accounting Association
  • 2014 FARS Editorial Committee (track Debt Contracting and Credit Ratings)
  • 2010-2015 CFA Charterholder, member of NYSSA