Hervé STOLOWY

Professor

Accounting and Management Control

stolowy@hec.fr https://people.hec.edu/stolowy/

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, 6th edition, 2020, in collaboration with Yuan Ding and Luc Paugam), chapters in 10 collective works and published over 70 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, Revue Française de Comptabilité and Strategic Management Journal). His research and teaching interests span financial and international accounting, and focus more specifically on non-financial information, ESG reporting and performance, accounting fraud, accounts manipulation, whistleblowers, activist short sellers, intangibles, international accounting harmonization.

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 Editor of European Accounting Review, past president of AFC, past co-Editor of Comptabilité - Contrôle - Audit, past chair of the Standing Scientific Committee of the European Accounting Association.

Hervé Stolowy teaches financial accounting in the different graduate programs of HEC Paris:financial accounting and reporting (HEC-MBA Program, HEC Master of Science in Management - Grande Ecole and HEC EMBA).

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Scientific articles

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)

Corporate Fraud and Managers' Behavior: Evidence from the Press

Journal of Business Ethics, 2010, vol. 95, pp 271-315, (in coll. with J. Cohen, Y. Ding, C. LESAGE)

Why do you speak English (in your financial statements)

International Journal of Accounting (DO NOT USE - transferred to World Scientific as of 2019), 2010, vol. 45, n° 2, pp 200-223, (in coll. with T. JEANJEAN, C. LESAGE)

Observations on measuring the differences between domestic accounting standards and IAS: A reply

Journal of Accounting and Public Policy, March-April 2009, vol. 28, n° 2, pp 154-161, (in coll. with Y. Ding, T. JEANJEAN)

Determinants of Board Members Financial Expertise - Empirical Evidence from France

International Journal of Accounting (DO NOT USE - transferred to World Scientific as of 2019), 3 February 2009, vol. 44, n° 4, pp 378-402, (in coll. with T. JEANJEAN)

La publication d'une information financière non conforme à la loi et aux normes : déterminants et conséquences

Comptabilité Contrôle Audit [Accounting Auditing Control], June 2009, vol. 1, n° 15, pp 159-198, (in coll. with N. Smaili, R. Labelle)

Towards an understanding of the phases of goodwill accounting in four Western capitalist countries: From stakeholder model to shareholder model

Accounting, Organizations and Society, October 2008, vol. 33, n° 7-8, pp 718-755, (in coll. with Y. Ding, J. Richard)

Do accounting standards matter? An exploratory analysis of earnings management before and after IFRS adoption

Journal of Accounting and Public Policy, November 2008, vol. 27, n° 6, pp 480-494, (in coll. with T. JEANJEAN)

The impact of firms' internationalization on financial statement presentation: Some French evidence

Advances in Accounting, June 2008, vol. 24, n° 1, pp 145-156, (in coll. with Y. Ding, T. JEANJEAN)

Identifying and coping with balance sheet differences: a comparative analysis of U.S., Chinese, and French oil and gas firms using the statement of financial structure

Issues in Accounting Education, November 2007, vol. 22, n° 4, pp 591-606, (in coll. with Y. Ding, G. Entwistle)

Books

Comptabilité analytique et contrôle de gestion

Dunod-Clet 1993 (in coll. with A. Mikol, J. de Guardia )

Cas pratique de révision, évaluation et contrôle interne

Dunod-Clet 1992 (in coll. with P. Delvaille, A. Mikol, C. Hébert )

Dictionnaire Organisation et Gestion

La Villeguérin Editions 1991 (in coll. with A. Mikol )

Le tableau de financement - guide d'application de la recommandation de l'Ordre des Experts Comptables

Editions Comptables Malesherbes 1991

Les mécanismes financiers de l'entreprise

Montchrestien - Gualino éditeur 1991 (in coll. with J. Eglem, A. Mikol, A. Pujol )

Les mécanismes comptables de l'entreprise

Montchrestien - Gualino éditeur 1990 (in coll. with C. Bonnier, J. Eglem, C. CAUVIN, P. Delvaille, C. Guerlain, C. Maillet, A. Mikol, D. PHAM, C. Simon, Y. DING )

Les tableaux de financement et de flux

Presses Universitaires de France (PUF), collection "Que Sais-Je ?" 1989

Comment travailler avec ses auditeurs, experts comptables et commissaires aux comptes

Dunod 1987 (in coll. with A. Mikol )

Chapters in edited books

Introduction aux mécanismes comptables : approche par les opérations

Les Mécanismes Comptables De L'Entreprise, J. Y. Eglem, H. Stolowy (Eds), Montchrestien - Gualino éditeur

Les provisions

Les Mécanismes Comptables De L'Entreprise, J. Y. Eglem, H. Stolowy (Eds), Montchrestien - Gualino éditeur

Un cadre d'analyse : les tableaux de financement et de flux

Les Mécanismes Comptables De L'Entreprise, J. Y. Eglem, H. Stolowy (Eds), Montchrestien - Gualino éditeur

Comptabilité créative

Encyclopédie De Comptabilité, Contrôle De Gestion Et Audit, B. Colasse (Ed.), Editions Economica, 187-207

Dictionnaire de la comptabilité

Dictionnaire De La Comptabilité, 1995, Dictionnaire Fiduciaire Comptable 1998, Dictionnaire Comptable 2001, La Villeguérin Editions

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

Questions De Contrôle, L. Collins (Ed.), Presses Universitaires de France (PUF), 243-266

Obligations comptables des commerçants

Comptabilité Et Droit Comptable, A. Burlaud (Ed.), Gualino Editeur

France

World Accounting, J. D. Gould, K. S. Schulzke (Eds.), Lexis Nexis, 1

Audit comptable et financier

Encyclopédie Du Management, J. P. Helfer, J. Orsoni, Vuibert

Introduction au mécanismes comptables : approche par les opérations ?, Les documents de synthèses, Un cadre d'analyse : les tableaux de financement et de flux

Les Mécanismes Comptables De L'Entreprise, Montchrestien - Gualino éditeur, 3e éd. 1998

Proceedings

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

Working papers

Why do you speak English (in your annual report)?

Cahier de Recherche du Groupe HEC , 2008

Towards an understanding of the phases of goodwill accounting in four Western capitalist countries: From stakeholder model to shareholder model

Cahier de Recherche du Groupe HEC , 2007

Determinants of Boards Financial Competency

Mimeo , 2006

Differences from IAS: Measurement, Determinants and Implications

Cahier de Recherche du Groupe HEC , 2005

Does Analyst Following Curb Earnings Management ? International Evidence

Cahier de Recherche du Groupe HEC , 2005

Nothing like the Enron Affair could happen in France (!)

Cahier de Recherche du Groupe HEC , 2005

Why do Firms Opt for Alternative-Format Financial Statements ? Some Evidence from France

Cahier de Recherche du Groupe HEC , 2005

Disclosure and determinants studies: An extension using the divisive clustering method (DIV)

Cahier de Recherche du Groupe HEC , 2004

Income statements "by nature" and analysis of company performance - an application to U.S. Airlines Companies

Cahier de Recherche du Groupe HEC , 2003

International differencies in R&D disclosure practices: Evidence in a French and Canadian context

Cahier de Recherche du Groupe HEC , 2003

Scientific articles

Editorial : Gouvernance des revues

Comptabilité Contrôle Audit [Accounting Auditing Control], 2020, vol. 26, n° 1, pp 9-20, (in coll. with N. BERLAND, I. MARTINEZ)

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 Y. GENDRON, J. MOLL, L. PAUGAM)

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

Strategic Management Journal, September 2019, vol. 40, n° 9, pp 1471-1490, (in coll. with R. DURAND, L. PAUGAM)

Non-additivity in accounting valuation: Theory and applications

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

Books

Financial Accounting and Reporting – A Global Perspective - 4th edition

Cengage 2013 (in coll. with M. LEBAS, Y. DING )

Comptabilité et analyse financière – Une perspective globale - 2ème étidion

Editions De Boeck, Bruxelles 2010 (in coll. with M. LEBAS, Y. DING, G. LANGLOIS )

Financial Accounting and Reporting - a global perspective - 3rd edition

Cengage 2010 (in coll. with M. LEBAS, Y. DING )

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

Montchrestien - Gualino éditeur 2008 (in coll. with D. PHAM, C. GUERLAIN )

Chapters in edited books

Manipulation of Accounts

Wiley Encyclopedia Of Management, John Wiley & Sons US, 1 , 1-6

De la qualité comptable : mesure et enjeux

Comptabilité, Société, Politique - Mélanges En L'Honneur Du Professeur Bernard Colasse, M. Nikitin, C. Richard (Eds), Editions 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, Editions Economica, 187-207

Proceedings

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

Working papers

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

Are auditors' duties concilable with Public Opinion?

Mimeo , 2011

Education

1992
Habilitation a diriger des recherches (Qualified Research Supervisor), Accounting, Université Paris - Est Créteil Val-de-Marne - France
1990
Doctorat de sciences de gestion (Ph.D. in Financial Accounting), Université Paris I Panthéon Sorbonne - France
1986
"Expert comptable degree" (French C.P.A.). Best dissertation award, _ - France
1983
Maitrise de Droit Prive, Université Paris - Est Créteil Val-de-Marne - France
1979
Diplome Grande Ecole (Master Degree in Management), Ecole Supérieure de Commerce de Paris - ESCP - France
1979
B.A. in Russian and American Studies, Université Paris Sorbonne Lettres et Civilisations - France

Scientific Activities

Membership in Academic or Professional Organisation

Secretary-Treasurer, International Association for Accounting Education and Research
Member of the executive committee and treasurer of the French Accounting Association
Fellow of the Center for International Accounting Education and Research (CIAER), Niagara University, USA (2001-)
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
Member, Association Francophone de Comptabilite (AFC)
Member, American Accounting Association
Member, Association Canadienne des Professeurs de Comptabilite

Editorial activities

2016-2019 Editor of The European Accounting Review

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

2021 2021 Pierre Vernimmen - BNP Paribas Teaching Award: Career Achievement Award for teaching excellence
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 Best Paper Award: "Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications", International Research Conference for Accounting Educators, Bordeaux
2005 HEC Foundation award for the book: Corporate Financial Reporting: A Global Perspective, 2002, Thomson, London (in coll. with M. Lebas).
2003 BNP Paribas Pierre Vernimmen Teaching Award
1986 1986 - Best CPA Disssertation Award