Skip to main content
About HEC About HEC Faculty & Research Faculty & Research Master’s programs Master’s programs MBA Programs MBA Programs PhD Program PhD Program Executive Education Executive Education Summer School Summer School HEC Online HEC Online About HEC Overview Overview Who
We Are Who
We Are
Egalité des chances Egalité des chances HEC Talents HEC Talents International International Campus
Life Campus
Life
Sustainability Sustainability Diversity
& Inclusion Diversity
& Inclusion
Stories Stories The HEC
Foundation The HEC
Foundation
Coronavirus Coronavirus
Faculty & Research Overview Overview Faculty Directory Faculty Directory Departments Departments Centers Centers Chairs Chairs Knowledge@HEC Knowledge@HEC Master’s programs Master in
Management Master in
Management
Master's
Programs Master's
Programs
Double Degree
Programs Double Degree
Programs
Summer
Programs Summer
Programs
Exchange
students Exchange
students
Student
Life Student
Life
Our
Difference Our
Difference
MBA Programs MBA MBA Executive MBA Executive MBA TRIUM EMBA TRIUM EMBA PhD Program Overview Overview HEC Difference HEC Difference Program details Program details Research areas Research areas HEC Community HEC Community Placement Placement Job Market Job Market Admissions Admissions Financing Financing Executive Education Executive Masters Executive Masters Executive Certificates Executive Certificates Executive short programs Executive short programs Online Online Companies Companies Executive MBA Executive MBA Infinity Pass Infinity Pass Summer School Youth Programs Youth Programs Summer programs Summer programs HEC Online Overview Overview Degree Program Degree Program Executive certificates Executive certificates MOOCs MOOCs Summer Programs Summer Programs Youth programs Youth programs

Luc PAUGAM

Associate Professor

Accounting and Management Control

 Profile picture

Biography

Luc Paugam holds a Ph.D. in financial accounting and a MSc in Finance from Université Paris Dauphine. Luc is a former student of ENS Paris-Saclay and a CFA charterholder. His research focuses on issues surrounding financial reporting of M&As (goodwill, intangible assets), corporate whistleblowing, CSR, and bank reporting. Luc has published in several academic journals including Accounting, Organizations & SocietyAbacusComptabilité Contrôle Audit, Contemporary Accounting Research, European Accounting Review, Journal of Accounting and Public Policy, Journal of Business Law, Journal of Business Finance & Accounting, and Strategic Management Journal. Books co-authored by Luc include Brand Valuation (Routledge), Evaluation Financière et Normes IFRS (Economica) and Evaluation Financière de la Marque (Economica). Luc teaches financial accounting in the Grande Ecole and MBA programs. Prior to joining HEC Paris, Luc has been a consultant in corporate finance, an associate professor at ESSEC Business School and a visiting scholar at the University of Houston. Luc is an associate editor of European Accounting Review and a board member of the Journal of Business Finance & AccountingAccounting and Business Research, Accounting in Europe, Accounting Forum and a member of CFA France. He received the ESSEC foundation teaching award in 2016.

Scientific articles

Sustainability reporting: Is convergence possible?

Accounting in Europe, Forthcoming, (in coll. with H. STOLOWY)

Competing for narrative authority in capital markets: Activist short sellers vs. financial analysts

Accounting, Organizations and Society, July 2022, vol. 100, n° 101334, (in coll. with H. STOLOWY, Y. GENDRON)

Disclosures about key value drivers in M&A announcement press releases: An exploratory study

Abacus, March 2022, vol. 58, n° 1, pp 62-104, (in coll. with A. FILIP, G. J. LOBO, H. STOLOWY)

Accounting Information in Innovative Small Cap Firms: Evidence from London's Alternative Investment Market

Accounting and Business Research, 2021, vol. 51, n° 4, pp 421-456, (in coll. with A. FILIP, A. GHIO)

Deploying narrative economics to understand financial market dynamics: an analysis of activist short sellers’ rhetoric

Contemporary Accounting Research, Fall 2021, vol. 38, n° 3, pp 1809-1848, (in coll. with H. STOLOWY, Y. GENDRON)

Managerial Discretion to Delay the Recognition of Goodwill Impairment: The Role of Enforcement

Journal of Business Finance & Accounting, January-February 2021, vol. 48, n° 1-2, pp 36-69, (in coll. with A. FILIP, G. J. LOBO)

Implications of the Joint Provision of CSR Assurance and Financial Audit for Auditors’ Assessment of Going Concern Risk

Contemporary Accounting Research, Summer 2020, vol. 37, n° 2, pp 1248-1289, (in coll. with L. DAL MASO, G. J. LOBO, F. MAZZI)

The usefulness of intangible assets' disclosure for financial analysts. Insights from Purchase Price Allocation conditional on deal quality

Comptabilité Contrôle Audit, Septembre 2019, vol. 25, n° 2, pp 5-53, (in coll. with A. JENY, P. ASTOLFI)

Do Investors Actually Value Sustainability Indices? Replication, Development, and New Evidence on CSR visibility

Strategic Management Journal, Septembre 2019, vol. 40, n° 9, pp 1471-1490, (in coll. with R. DURAND, H. STOLOWY)

The Whistleblower: An Important Person in Corporate Life? An Answer from Comparative Law

Journal of Business Law, 2019, vol. 3, pp 167-184, (in coll. with N. STOLOWY, A. LONDERO)

Books

财务报告与分析:一种国际化视角 (Cai wu bao gao yu fen xi: yi zhong guo ji hua shi ye) (Chinese adaptation of “Financial Accounting and Reporting – A Global Persp

CEIBS Publishing (in coll. with H. STOLOWY, Y. DING)

Financial accounting and reporting - A global perspective

Cengage (in coll. with H. STOLOWY, Y. DING)

Brand Valuation

Routledge, London (in coll. with P. ANDRÉ, H. PHILIPPE, R. HARFOUCHE)

Evaluation financière de la marque

Editions Economica (in coll. with H. PHILIPPE, D. AGUILAR)

Evaluation financière et normes IFRS

Editions Economica (in coll. with O. RAMOND, J.-F. CASTA, L. BATSCH)

Working papers

Case Studies

Scientific articles

Competing for narrative authority in capital markets: Activist short sellers vs. financial analysts

Accounting, Organizations and Society, July 2022, vol. 100, n° 101334, (in coll. with H. STOLOWY, Y. GENDRON)

Disclosures about key value drivers in M&A announcement press releases: An exploratory study

Abacus, March 2022, vol. 58, n° 1, pp 62-104, (in coll. with A. FILIP, G. J. LOBO, H. STOLOWY)

Accounting Information in Innovative Small Cap Firms: Evidence from London's Alternative Investment Market

Accounting and Business Research, 2021, vol. 51, n° 4, pp 421-456, (in coll. with A. FILIP, A. GHIO)

Deploying narrative economics to understand financial market dynamics: an analysis of activist short sellers’ rhetoric

Contemporary Accounting Research, Fall 2021, vol. 38, n° 3, pp 1809-1848, (in coll. with H. STOLOWY, Y. GENDRON)

Books

财务报告与分析:一种国际化视角 (Cai wu bao gao yu fen xi: yi zhong guo ji hua shi ye) (Chinese adaptation of “Financial Accounting and Reporting – A Global Persp

CEIBS Publishing (in coll. with H. STOLOWY, Y. DING)

Financial accounting and reporting - A global perspective

Cengage (in coll. with H. STOLOWY, Y. DING)

Brand Valuation

Routledge, London (in coll. with P. ANDRÉ, H. PHILIPPE, R. HARFOUCHE)

Evaluation financière de la marque

Editions Economica (in coll. with H. PHILIPPE, D. AGUILAR)

Working papers

Case Studies

Education

  • Habilitation to conduct research, Université Paris Dauphine - France
  • CFA Charterholder, CFA Institute USA - USA
  • Ph.D., in Business Administration, Financial Accounting, Université Paris Dauphine - France
  • MSc in Finance, Université Paris Dauphine - France
  • Bachelor, Economics, Ecole Normale Supérieure de Cachan - France
  • Agregation, Economics and Management, Ecole Normale Supérieure de Cachan - France

Academic appointments

Academic Responsibilities at HEC

  • 2016- Associate Professor, Accounting and Management Control HEC Paris
  • 2016- Member of GREGHEC, the joint research laboratory CNRS-HEC Paris HEC Paris

Awards & honors

  • 2018 Best Paper Award: "Accounting Information in Innovative Small and Medium Entities" 13th World Congress of Accounting Educators and Researchers, Sydney November 2018, The University of Sydney, IAAER (in collaboration with Andrei Filip and Alessandro Ghio)