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Hervé STOLOWY

Professor

Accounting and Management Control

stolowy@hec.fr http://www.hec.fr/stolowy
Profile picture

Biography

Hervé Stolowy holds a Degree in Business Administration (ESCP Europe), a Master's degree in Law (University Paris-Val de Marne), a B.A. in Russian and American Studies (University Paris-Sorbonne), a Ph.D. in Financial Accounting (University Paris-Panthéon-Sorbonne) and an "Habilitation à diriger des recherches" ("Qualified Doctoral Dissertation Supervisor"). He is a certified "expert comptable" (French equivalent of a chartered accountant or certified public accountant).

He has authored and co-authored nine books (including "Financial Accounting and Reporting - A Global Perspective", Cengage, Andover, UK, 5th edition, 2017, in collaboration with Yuan Ding), chapters in 10 collective works and published over 65 articles in academic and applied journals (Abacus, Accounting Auditing & Accountability Journal, Accounting, Organizations and Society, Advances in International Accounting, Contemporary Accounting Research, Comptabilité - Contrôle - Audit, European Accounting Review, Finance - Contrôle - Stratégie, Journal of International Business Studies, The International Journal of Accounting, Issues in Accounting Education, Journal of Accounting and Public Policy, Les Echos, Review of Accounting and Finance, Revue de Droit Comptable and Revue Française de Comptabilité). His research and teaching interests span financial and international accounting, and focus more specifically on accounts manipulation, intangibles, international accounting harmonization and cash flow statements.
He is a member of the Association Francophone de Comptabilité (AFC), European Accounting Association (EAA), American Accounting Association (AAA), and Canadian Academic Accounting Association (CAAA).
He is  past president of AFC, past co-Editor of Comptabilité - Contrôle - Audit, past chair of the Standing Scientific Committee of the European Accounting Association and current Editor of European Accounting Review.
Hervé Stolowy teaches financial accounting in the different graduate programs of HEC Paris: introduction to financial accounting and financial statement analysis (HEC-MBA Program and HEC Master of Science in Management - Grande Ecole), and both advanced accounting and international accounting (HEC MSc in Management Grande Ecole). He also teaches in the HEC doctoral program (research in financial accounting) and supervises several Ph.D. students.

Scientific articles

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

Contemporary Accounting Research, Forthcoming, (in coll. with H. STOLOWY, Y. GENDRON, J. MOLL)

Non-additivity in accounting valuation: Theory and applications

Abacus, September 2018, vol. 54, n° 3, pp 381-416, (in coll. with Jean-François CASTA, H. STOLOWY)

The expansion of non-financial reporting: an exploratory study

Accounting and Business Research, July 2018, vol. 48, n° 5, pp 525-548, (in coll. with H. STOLOWY)

Letter from the Editor: Why Are Papers Desk Rejected at European Accounting Review? (note)

European Accounting Review, July 2017, vol. 26, n° 3, pp 411-418,

Media bias and the persistence of the expectation gap: An analysis of press articles on corporate fraud

Journal of Business Ethics, September 2017, vol. 144, n° 3, pp 637-659, (in coll. with J. COHEN, Y. DING, C. LESAGE)

The Effect of Business and Financial Market Cycles on Credit Ratings: Evidence from the Last Two Decades

Abacus, March 2017, vol. 53, n° 1, pp 59-93, (in coll. with G. LOBO, H. STOLOWY, P. ASTOLFI)

International evidence on the impact of adopting English as an external reporting language

Journal of International Business Studies, February 2015, vol. 46, n° 2, pp 180-205, (in coll. with T. JEANJEAN, M. ERKENS, T. YOHN)

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

Comptabilité Contrôle Audit, December 2015, vol. 3, n° 21, pp 15-92, (in coll. with M. ERKENS, L. PAUGAM)

The construction of a trustworthy investment opportunity: Insights from the Madoff fraud

Contemporary Accounting Research, Summer 2014, vol. 31, n° 2, pp 354-397, (in coll. with R. Baker, T. Jeanjean, M. Messner)

Analyst coverage, earnings management and financial development: An international study

Journal of Accounting and Public Policy, January-February 2013, vol. 32, n° 1, pp 1-25, (in coll. with F. Degeorge, Y. Ding, T. Jeanjean)

Books

Comptabilité et Analyse Financière

De Boeck Supérieur

Financial Accounting and Reporting

South-Western Cengage Learning

(Cai wu bao gao yu fen xi: yi zhong guo ji hua shi ye), adaptation chinoise de Financial Accounting and Reporting - a global perspective

CEIBS Publishing

Comptabilité et analyse financière (adaptation française de Financial Accounting and Reporting - a global perspective, 4e éd.)

De Boeck Université, Bruxelles

Financial Accounting and Reporting - a global perspective

Thomson Learning, London

Financial Accounting and Reporting - a global perspective

South-Western Cengage Learning

Comptabilité financière de l'entreprise (J. Y. Eglem, H. Stolowy Eds)

Montchrestien - Gualino éditeur

Financial Accounting and Reporting - a global perspective

Thomson Learning, London

Comptabilité financière de l'entreprise (J. Y. Eglem, H. Stolowy Eds)

Montchrestien - Gualino éditeur

Financial Accounting and Reporting - a global perspective

Thomson Learning, London

Chapters edited in books

De la dénonciation à l’alerte éthique – Histoire et institutionnalisation du « whistleblowing » comme mode de contrôle social”

L'Histoire Comme Méthode Pour Comprendre Le Managment, Mathieu Floquet, Pierre Labardin, Yves Levant, Editions L'Harmattan, 123-136

Le format des états financiers : évolutions et réflexions

La Comptabilité En Action – Mélanges En L’hOnneur Du Professeur Geneviève Causse, Alain Burlaud, Arnaud Thauvron, Editions L'Harmattan, 129-159

La recherche sur les tableaux de flux : panorama, analyse et recherches futures

Comptabilité, Finance, Et Politique - Mélanges En L’hOnneur Du Professeur Christian Hoarau, A. Burlaud (Ed.), Experts-Comptables Services, 157-172

De la qualité comptable : mesure et enjeux

Comptabilité, Société, Politique - Mélanges En L'Honneur Du Professeur Bernard Colasse, M. Nikitin, C. Richard (Eds), Economica, 97-111

Le bilan d'une nation selon la Banque Mondiale, IFRS et comptabilité environnementale

Comptabilité, Contrôle Et Société - Mélanges En L'Honneur Du Professeur Alain Burlaud, C. Hoarau, J. L. Malo, C. Simon (Eds), Foucher, Paris, 171-181

Compatibilité créative

Encyclopédie De Comptabilité, Contrôle De Gestion Et Audit, B. Colasse, Economica, 187-207

Les analystes financiers contribuent-ils à la qualité de l'information financière ?

L'Art Du Management - Leadership, Performance, Développement Durable, B. Ramanantsoa (Ed.), Pearson Education France, Partie 2 - chap 2

La manipulation des comptes : motivations et pratiques

L'Art Du Management 3, HEC Paris, Dunod, Paris, 151-156

Manipulation of accounts

The Blackwell Encyclopedia Of Management, C. Clubb (ed.), Blackwell Publishing, 1: Accounting, 290-295

Le point de vue de Hervé Stolowy

Les Leçons D'Enron, M. A. Frison-Roche, Autrement, 163-167

Proceedings

Dynamic Selection of Services under Temporal Constraints in Cloud Computing

9th IEEE International Conference on e-Business Engineering (ICEBE)/8th SOAIC/6th EM2I/6th SOKMBI/4th ASOC , 2012 , Hangzhou (Y. DU, X. WANG, L. AI)

An Approach to Composing Web Services with Context Heterogeneity

IEEE International Conference on Web Services (ICWS 2009) , 2009 , Los Angeles (S. MADNICK, H. ZHU, Y. FAN)

On the Synchronization of Web Services Interactions

23rd International Conference on Advanced Information Networking and Applications Workshops , 2009 , Bradford (Z. MAAMAR, Q. Z. SHENG, H. YAHYAOUI, K. BOUKADI)

A pattern-based approach to development of service mediators for protocol mediation

7th Working IEEE/IFIP Conference on Software Architecture (WISCA 2008) , 2008 , Vancouver (Y. FAN, J. WANG, L. WANG, F. JIANG)

A classification of service composition mismatches to support service mediation

6th International Conferernce on Grid and Cooperative Computing , 2007 , Urumchi (Y. FAN, F. JIANG)

Analyse des déterminants de la compétence financière des conseils d'administration en France

Actes du 27e Congrès de l'Association Francophone de Comptabilité , 2006 , Tunis (T. Jeanjean)

Capitalisation des frais de R&D en France : déterminants et pertinence

Actes du 24e Congrès de l'Association Francophone de Comptabilité (cédérom) , 2003 , Louvain-la-Neuve (Y. DING)

La référence à des normes 'alternatives' par les grands groupes français : une étude empirique sur la période 1985-1999

Actes du 23e Congrès de l'Association Française de Comptabilité , 2002 , Toulouse (Y. DING)

L'internationalisation de la présentation des états financiers des sociétés françaises : une étude empirique longitudinale

Actes du 21e Congrès de l'Association Française de Comptabilité (cédérom) , 2001 (Y. DING, M. TENENHAUS)

L'intégration de la comptabilité générale, de la comptabilité analytique et des flux de trésorerie - une réponse aux besoins des entreprises

Actes du 18e congrès de l'Association Française de Comptabilité , 1998 (P. Touron)

The Definition of International Accounting Through Textbook Contents

Actes du 8th World Congress of the IAAER (cédérom) , 1997 , Paris

La comptabilité internationale : essai de définition sur la base d'ouvrages et de syllabus

Actes du 17e Congrès de l'Association Française de Comptabilité , 1996 , Valenciennes

Et si le SFAS 106 devenait applicable en France ou la comptabilisation des avantages autres que les retraites, consentis aux retraités

Actes du Congrès de l'Association Française de Comptabilité , 1993 , Toulouse

Les tableaux de financement et de flux : la pratique internationale

Actes de la Journée d'Etude de l'Association Française de Comptabilité , 1989 , Paris

L'utilisation du tableau de financement par les analystes boursiers

Actes du Congrès de l'Association Française de Comptabilité , 1988 , Nice

Filling the Gap: Legal and Regulatory Challenges of Mobile Health (mHealth) in Europe

International Telecommunication Union , 2014

Executives' Interpretations Of The 2004 EU-Enlargement: Effects Of International Experience, Strategy, And Firm Size

European Academy of Management (EURAM) Meeting , 2005 , Munich

Working papers

Corporate Governance : une synthèse de la littérature

Cahier de Recherche du Groupe HEC , 1997

Building the Legitimacy of Whistleblowers: A Multi-Case Discourse Analysis

Cahier de Recherche du Groupe HEC , 2018

The Expansion of Non-Financial Reporting: An Exploratory Study

Cahier de Recherche du Groupe HEC , 2018

Managerial Risk Aversion and Accounting Conservatism

Cahier de Recherche du Groupe HEC , 2017

Non-Additivity in Accounting Valuation: Theory and Applications

Cahier de Recherche du Groupe HEC , 2017

Media Bias and the Persistence of the Expectation Gap: An Analysis of Press Articles on Corporate Fraud

Cahier de Recherche du Groupe HEC , 2015

Information, trust and the limits of intelligent accountability in investment decision making: Insights from the Madoff case

Cahier de Recherche du Groupe HEC , 2011

The Economic Consequences of Increasing the International Visibility of Financial Reports

Cahier de Recherche du Groupe HEC , 2011

An Experiment in the Economic Consequences of Additional Disclosure: The Case of the Fair Value of Unlisted Equity Investments

Mimeo , 2010

Determinants of board members' financial expertise - Empirical evidence from France

Cahier de Recherche du Groupe HEC , 2008

Scientific articles

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

Contemporary Accounting Research, Forthcoming, (in coll. with H. STOLOWY, Y. GENDRON, J. MOLL)

Non-additivity in accounting valuation: Theory and applications

Abacus, September 2018, vol. 54, n° 3, pp 381-416, (in coll. with Jean-François CASTA, H. STOLOWY)

The expansion of non-financial reporting: an exploratory study

Accounting and Business Research, July 2018, vol. 48, n° 5, pp 525-548, (in coll. with H. STOLOWY)

Letter from the Editor: Why Are Papers Desk Rejected at European Accounting Review? (note)

European Accounting Review, July 2017, vol. 26, n° 3, pp 411-418,

Books

Comptabilité et Analyse Financière

De Boeck Supérieur

Financial Accounting and Reporting

South-Western Cengage Learning

(Cai wu bao gao yu fen xi: yi zhong guo ji hua shi ye), adaptation chinoise de Financial Accounting and Reporting - a global perspective

CEIBS Publishing

Comptabilité et analyse financière (adaptation française de Financial Accounting and Reporting - a global perspective, 4e éd.)

De Boeck Université, Bruxelles

Chapters edited in books

De la dénonciation à l’alerte éthique – Histoire et institutionnalisation du « whistleblowing » comme mode de contrôle social”

L'Histoire Comme Méthode Pour Comprendre Le Managment, Mathieu Floquet, Pierre Labardin, Yves Levant, Editions L'Harmattan, 123-136

Le format des états financiers : évolutions et réflexions

La Comptabilité En Action – Mélanges En L’hOnneur Du Professeur Geneviève Causse, Alain Burlaud, Arnaud Thauvron, Editions L'Harmattan, 129-159

La recherche sur les tableaux de flux : panorama, analyse et recherches futures

Comptabilité, Finance, Et Politique - Mélanges En L’hOnneur Du Professeur Christian Hoarau, A. Burlaud (Ed.), Experts-Comptables Services, 157-172

De la qualité comptable : mesure et enjeux

Comptabilité, Société, Politique - Mélanges En L'Honneur Du Professeur Bernard Colasse, M. Nikitin, C. Richard (Eds), Economica, 97-111

Proceedings

Dynamic Selection of Services under Temporal Constraints in Cloud Computing

9th IEEE International Conference on e-Business Engineering (ICEBE)/8th SOAIC/6th EM2I/6th SOKMBI/4th ASOC , 2012 , Hangzhou (Y. DU, X. WANG, L. AI)

An Approach to Composing Web Services with Context Heterogeneity

IEEE International Conference on Web Services (ICWS 2009) , 2009 , Los Angeles (S. MADNICK, H. ZHU, Y. FAN)

On the Synchronization of Web Services Interactions

23rd International Conference on Advanced Information Networking and Applications Workshops , 2009 , Bradford (Z. MAAMAR, Q. Z. SHENG, H. YAHYAOUI, K. BOUKADI)

A pattern-based approach to development of service mediators for protocol mediation

7th Working IEEE/IFIP Conference on Software Architecture (WISCA 2008) , 2008 , Vancouver (Y. FAN, J. WANG, L. WANG, F. JIANG)

A classification of service composition mismatches to support service mediation

6th International Conferernce on Grid and Cooperative Computing , 2007 , Urumchi (Y. FAN, F. JIANG)

Analyse des déterminants de la compétence financière des conseils d'administration en France

Actes du 27e Congrès de l'Association Francophone de Comptabilité , 2006 , Tunis (T. Jeanjean)

Capitalisation des frais de R&D en France : déterminants et pertinence

Actes du 24e Congrès de l'Association Francophone de Comptabilité (cédérom) , 2003 , Louvain-la-Neuve (Y. DING)

La référence à des normes 'alternatives' par les grands groupes français : une étude empirique sur la période 1985-1999

Actes du 23e Congrès de l'Association Française de Comptabilité , 2002 , Toulouse (Y. DING)

L'internationalisation de la présentation des états financiers des sociétés françaises : une étude empirique longitudinale

Actes du 21e Congrès de l'Association Française de Comptabilité (cédérom) , 2001 (Y. DING, M. TENENHAUS)

L'intégration de la comptabilité générale, de la comptabilité analytique et des flux de trésorerie - une réponse aux besoins des entreprises

Actes du 18e congrès de l'Association Française de Comptabilité , 1998 (P. Touron)

The Definition of International Accounting Through Textbook Contents

Actes du 8th World Congress of the IAAER (cédérom) , 1997 , Paris

La comptabilité internationale : essai de définition sur la base d'ouvrages et de syllabus

Actes du 17e Congrès de l'Association Française de Comptabilité , 1996 , Valenciennes

Et si le SFAS 106 devenait applicable en France ou la comptabilisation des avantages autres que les retraites, consentis aux retraités

Actes du Congrès de l'Association Française de Comptabilité , 1993 , Toulouse

Les tableaux de financement et de flux : la pratique internationale

Actes de la Journée d'Etude de l'Association Française de Comptabilité , 1989 , Paris

L'utilisation du tableau de financement par les analystes boursiers

Actes du Congrès de l'Association Française de Comptabilité , 1988 , Nice

Filling the Gap: Legal and Regulatory Challenges of Mobile Health (mHealth) in Europe

International Telecommunication Union , 2014

Executives' Interpretations Of The 2004 EU-Enlargement: Effects Of International Experience, Strategy, And Firm Size

European Academy of Management (EURAM) Meeting , 2005 , Munich

Working papers

Corporate Governance : une synthèse de la littérature

Cahier de Recherche du Groupe HEC , 1997

Building the Legitimacy of Whistleblowers: A Multi-Case Discourse Analysis

Cahier de Recherche du Groupe HEC , 2018

The Expansion of Non-Financial Reporting: An Exploratory Study

Cahier de Recherche du Groupe HEC , 2018

Managerial Risk Aversion and Accounting Conservatism

Cahier de Recherche du Groupe HEC , 2017

Education

  • Habilitation a diriger des recherches (Qualified Research Supervisor), Accounting , Université Paris - Est Créteil Val-de-Marne - France
  • Doctorat de sciences de gestion (Ph.D. in Financial Accounting) , Université Paris I Panthéon Sorbonne - France
  • "Expert comptable degree" (French C.P.A.). Best dissertation award , __ - France
  • Maitrise de Droit Prive , Université Paris - Est Créteil Val-de-Marne - France
  • B.A. in Russian and American Studies , Université Paris Sorbonne Lettres et Civilisations - France
  • Diplome Grande Ecole (Master Degree in Management) , Ecole Supérieure de Commerce de Paris - ESCP - France

Academic appointments

Academic responsabilities at HEC

  • 2004-2006 Head of the Department of Accounting and Management Control
  • 2004- Member of GREGHEC (CNRS)
  • 2003-2004 Member of the Evaluation Committee
  • 2001- In charge of the Financial Accounting course (HEC, MSc, 1st year)
  • 1998-2000 Member of the Evaluation Committee
  • 1997-2001 Director of MS HEC in Auditing
  • 1996-1997 Department representative od the Doctoral program
  • 1996- - Member of the Research Committee
  • 1995-1997 In charge of the "management of non profit organizations" elective
  • 1994- Professor

External Academic Responsabilities

  • 1998-1998 Visiting Professor
  • 1989-1989 Visiting Professor
  • 1986-1995 Adjunct faculty in "Accounting and financial statements analysis"
  • 1983-1994 Assistant, Assistant Professor, Associate Professor, Professor, Accounting and Control Department
  • 1982-1983 lecturer in law and accounting

Scientific Activities

Membership in Academic or Professional Organisation

  • Member, American Accounting Association
  • Member of the Centre de Recherche en Controle et en Comptabilite Internationale (CRECCI), IRGAE, Universite de Montesquieu Bordeaux IV (2002-)
  • Member of the executive committee, vice-president (2003-2007) and president (2007-2009) of the French Accounting Association
  • Fellow of the Center for International Accounting Education and Research (CIAER), Niagara University, USA (2001-)
  • Member, Association Canadienne des Professeurs de Comptabilite
  • Member, Association Francophone de Comptabilite (AFC)
  • Secretary-Treasurer, International Association for Accounting Education and Research
  • Member of the executive committee and treasurer of the French Accounting Association

Editorial activities

  • Editorial boards (past): Journal of Accounting Education, Revue de Droit Comptable
  • Ad-hoc reviewer: Abacus, Critical Perspectives on Accounting, Journal of Accounting Education, Journal of Business Finance and Accounting, Journal of International Business Studies
  • Editorial boards (current): Advances in International Accounting, Business Research, Comptabilite - Controle - Audit, Finance - Controle - Strategie, Journal of Accounting and Public Policy, Journal of International Accounting Research, The International Journal of Accounting
  • 2016-2019 Editor of The European Accounting Review
  • May 2014-April 2017 Member of the Editorial Board, Contemporary Accounting Research
  • 2013-2015 Associate Editor, Issues in Accounting Education
  • June 2009-December 2013 Co-editor of Comptabilite-Controle-Audit
  • 2004-2010 Book review editor of The International Journal of Accounting

    • Conference organisation

  • 2014- Organisation de la 9ème Journée de formation en Méthodologie de la Recherche en Comptabilité - Contrôle – Audit
  • 2010-2013 Chairman of the Standing Scientific Committee of the European Accounting Association
  • 2006-2006 Organization of the Illinois International Accounting Symposium (The International Journal of Accounting), HEC (in collaboration with Yuan Ding and Thomas Jeanjean)
  • 2006-2006 Member of the scientific committee of the 29th EAA Annual Congress (Dublin)
  • 2005-2005 Member of the scientific committee of the 28th EAA Annual Congress (Göteborg)
  • 2003-2003 Member of the scientific committee of the 26th EAA Annual Congress (Sevilla)
  • 2002-2002 Member of the scientific committee of the 25th EAA Annual Congress (Copenhagen)
  • 1997-1997 Chairman of the Scientific Committee and member of the Organizing Committee of the IAAER 8th World Congress (International Association for Accounting Education and Research), Paris
  • 1994- Co-organization of the French Accounting Association symposium: Pédagogie en comptabilité et relations entre milieux académiques et professionnels - France / USA, ESCP.
  • 1989- Organization of the French Accounting Association seminar: Le tableau de financement à l'ère des réformes, ESCP

    • Awards & honors

    Membership in Academic or Professional Organisation

    • 2017 2017 Award for Excellence in accounting 2017 in the category Academics, Autorite des normes comptables (ANC)
    • 2013 Best Paper Award: "Evidence on the impact of adopting English as an external reporting language and foreign investment, analyst following, and liquidity", American Accounting Association International Accounting Section 2013 Mid-year conference, 21-23 February (in coll. with M. Erkens, T. Jeanjean and T. Yohn)
    • 2005 HEC Foundation award for the book: Corporate Financial Reporting: A Global Perspective, 2002, Thomson, London (in coll. with M. Lebas).
    • 2005 Best Paper Award: "Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications", International Research Conference for Accounting Educators, Bordeaux
    • 2003 BNP Paribas Pierre Vernimmen Teaching Award
    • 1986 1986 - Best CPA Disssertation Award