Luc PAUGAM

Professor

Accounting and Management Control

paugam@hec.fr
Profile picture

Biography

Luc Paugam is the holder of the Forvis Mazars chair Purposeful Governance. He obtained a Ph.D. in financial accounting and a MSc in Finance from Université Paris Dauphine. Luc graduated from ENS Paris-Saclay and is a CFA charterholder. His research focuses on issues surrounding financial reporting of M&As (goodwill, intangible assets), corporate whistleblowing, CSR, and activist short sellers. Luc has published in several academic journals including Accounting, Organizations & Society, Abacus, Review of finance, Comptabilité 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 and INSEAD. Luc is an associate editor of European Accounting Review and a board member of the Journal of Business Finance & Accounting, Accounting 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

The Effect of Joint Auditor Pair Composition on Audit Quality: Evidence from Impairment Tests

Contemporary Accounting Research, Spring 2017, vol. 34, n° 1, pp 118-153, (in coll. with G. LOBO, D. ZHANG, J.-F. CASTA)

Examining the patterns of goodwill impairments in Europe and the US

Accounting in Europe, 2016, vol. 16, n° 3, pp 329-352, (in coll. with P ANDRE, A FILIP)

Using Real Activities to Avoid Goodwill Impairment Losses: Evidence and Effect on Future Performance

Journal of Business Finance & Accounting, April-May 2015, vol. 42, n° 3 & 4, pp 515–554, (in coll. with A. FILIP, T. JEANJEAN)

Non-financial information: State of the art and research perspectives based on a bibliometric study

Comptabilité Contrôle Audit [Accounting Auditing Control], 3 February 2015, vol. 3, n° 21, pp 15-92, (in coll. with M. ERKENS, H. STOLOWY)

Accounting for business combinations: Do purchase price allocations matter?

Journal of Accounting and Public Policy, July-August 2015, vol. 34, n° 4, pp 362-391, (in coll. with P. ASTOLFI, O. RAMOND)

The Effect of Mandatory IFRS Adoptionon Conditional Conservatism in Europe

Journal of Business Finance & Accounting, April-May 2015, vol. 42, n° 3 & 4, pp 482–514, (in coll. with P. ANDRE, A. FILIP)

Effect of Impairment-Testing Disclosures on the Cost of Equity Capital

Journal of Business Finance & Accounting, 2015, vol. 42, n° 5-6, pp 583-618, (in coll. with O. RAMOND)

Risque d’estimation, coût du capital et communication des tests de dépréciation

Finance Contrôle Stratégie, 2013, vol. 16, n° 1, pp 2-20, (in coll. with O. RAMOND, B. HUSSON, H. PHILIPPE, J.-F. CASTA)

Books

Chapters in edited books

Working papers

Case Studies

Scientific articles

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)

Building the legitimacy of whistleblowers: A multi-case discourse analysis

Contemporary Accounting Research, Spring 2019, vol. 36, n° 1, pp 7-49, (in coll. with H. STOLOWY, Y. GENDRON, J. MOLL)

Books

Chapters in edited books

Working papers

Do Investors Pay Sufficient Attention to Banks’ Unrealized Gains and Losses on Available-for-Sale Securities?

Cahier de Recherche du Groupe HEC , 2018

The Expansion of Non-Financial Reporting: An Exploratory Study

Cahier de Recherche du Groupe HEC , 2018

Empirical Evidence on Earnings Management Strategies and Their Consequences in Innovative Small and Medium Entities

Cahier de Recherche du Groupe HEC , 2017

Non-Additivity in Accounting Valuation: Theory and Applications

Cahier de Recherche du Groupe HEC , 2017

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

  • 2025- Professor, Accounting and Management Control HEC Paris
  • 2023- Mazars - Purposeful Governance Chair Holder 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)