Hervé STOLOWY

Professor

Accounting and Management Control

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

Scientific articles

Differences between Domestic Accounting Standards and IAS: Measurement, Determinants and Implications

Journal of Accounting and Public Policy, January-February 2007, vol. 26, n° 1, pp 1-38, (in coll. with Y. DING, O.-K. HOPE, 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)

Disclosure and Determinants Studies: An Extension Using the Divisive Clustering Method (DIV)

European Accounting Review, July 2006, vol. 15, n° 2, pp 181-218, (in coll. with M. Chavent, Y. DING, L. Fu, H. Wang)

Timeliness and conservatism: Changes over time in the properties of accounting income in France

Review of Accounting and Finance, 2006, vol. 5, n° 2, pp 92-107, (in coll. with Y. DING)

Using "statement of intermediate balances" as tool for international financial statement analysis in airline industry

Advances in International Accounting, 2005, vol. 18, pp 169-198, (in coll. with Y. DING, C. Richard Baker)

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

European Accounting Review, July 2005, vol. 14, n° 2, pp 405-415,

Why Do National GAAP Differ from IAS ? The Role of Culture

International Journal of Accounting (DO NOT USE - transferred to World Scientific as of 2019), 2005, vol. 40, n° 4, pp 325-350, (in coll. with T. JEANJEAN, Y. DING)

Reply to discussion of "Why Do National GAAP Differ from IAS ? The Role of Culture"

International Journal of Accounting (DO NOT USE - transferred to World Scientific as of 2019), 2005, vol. 40, n° 4, pp 359-362, (in coll. with T. JEANJEAN, Y. DING)

Les déterminants de la stratégie de "capitalisation" des frais de recherche et développement en France

Finance Contrôle Stratégie, 3 February 2004, vol. 7, n° 4, pp 87-106, (in coll. with Y. DING, M. TENENHAUS)

Accounts Manipulation: A Literature Review and Proposed Conceptual Framework

Review of Accounting and Finance, 2004, vol. 3, n° 1, pp 5-66, (in coll. with G. Breton)

Books

Chapters in edited books

Les principales opérations réalisées par l'entreprise, Un cadre d'analyse des flux : le tableau de financement

Les Mécanismes Comptables De L'Entreprise, 2E Éd. 1995, Montchrestien, Paris

Les évenements postérieurs à la clôture de l'exercice

Principes Comptables Et Information Financière, Editions Comptables Malesherbes

Principes comptables et information financière

Principes Comptables Et Information Financière, Editions Comptables Malesherbes

Proceedings

Working papers

R&D productivity: an international study

Cahier de Recherche du Groupe HEC , 2003

La référence à des normes 'alternatives' par les grands groupes français : une étude empirique sur la période 1985-1999 / The reference to 'alternative' standards by French l

Cahier de Recherche du Groupe HEC , 2002

The Internationalization of Financial Statements Presentation: an Empirical Study of French Groups / L'internationalisation de la présentation des états financiers des sociétés

Cahier de Recherche du Groupe HEC , 2001

A Framework for the Classification of Accounts Manipulations

Cahier de Recherche du Groupe HEC , 2000

Classification of Intangibles

Cahier de Recherche du Groupe HEC , 2000

Survey of Financial Statement Analysis Courses in Europe and the United States

Cahier de Recherche du Groupe HEC , 2000

Accounting for Brands in IAS 38 of IASC (Intangible Assets) Compared with French and German Practices: An Illustration of the Difficulty of International Harmonization / Une illust

Cahier de Recherche du Groupe HEC , 1999

Corporate Governance : une synthèse de la littérature

Cahier de Recherche du Groupe HEC , 1997

Corporate Governance : une synthèse de la littérature

Cahier de Recherche du Groupe HEC , 1997

Corporate Governance : une synthèse de la littérature

Cahier de Recherche du Groupe HEC , 1997

Scientific articles

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 L. PAUGAM)

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, July 2017, vol. 53, n° 1, pp 59-93, (in coll. with G. LOBO, L. PAUGAM, P. ASTOLFI)

Books

Comptabilité et analyse financière – Une perspective globale - 1ère édition

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

Financial Accounting and Reporting - a global perspective - 2nd edition

Thomson Learning, London (in coll. with M. LEBAS )

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

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

Corporate Financial Reporting : A Global Perspective

Thomson Learning, London (in coll. with M. LEBAS )

Chapters in edited books

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, 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

Working papers

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

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
  • Diplome Grande Ecole (Master Degree in Management), Ecole Supérieure de Commerce de Paris - ESCP - France
  • 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