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

Shaping collective action in financial markets through popular expertise: An analysis of Due Diligence posts on WallStreetBets

Accounting, Organizations and Society, Forthcoming, vol. 114, n° 101588, (in coll. with Y. GENDRON, A. MADELAINE, L. PAUGAM)

Sustainability reporting: Is convergence possible?

Accounting in Europe, 2023, vol. 20, n° 2, pp 139-165, (in coll. with L. PAUGAM)

Breaking Incommensurability Boundaries? On the Production and Publication of Inter-Paradigmatic Research

Qualitative Research in Accounting and Management, October 2023, vol. 20, n° 5, pp 675-694, (in coll. with Y. GENDRON, L. PAUGAM)

Name and Shame: A Comparative and International Analysis of Whistleblowing Laws

Journal of Business Law, 2022, vol. 5, n° 2022, pp 357-382, (in coll. with N. 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 L. PAUGAM, 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, L. PAUGAM)

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 L. PAUGAM, Y. GENDRON)

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)

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, L. PAUGAM)

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)

Books

Comptabilité et analyse financière – Une perspective globale - 5ème édition

EMS Editions (in coll. with Y. DING, L. PAUGAM, G. LANGLOIS )

Financial Accounting and Reporting – A Global Perspective - 7th edition

Cengage (in coll. with Y. DING, L. PAUGAM )

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 Y. DING, L. PAUGAM )

Financial accounting and reporting - A global perspective - 6th edition

Cengage (in coll. with Y. DING, L. PAUGAM )

Comptabilité et Analyse Financière - 4ème édition

De Boeck Supérieur (in coll. with Y. DING, G. LANGLOIS )

Financial Accounting and Reporting

South-Western Cengage Learning (in coll. with Y. DING )

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

Comptabilité et analyse financière - 3ème édition

De Boeck Université, Bruxelles (in coll. with M. Lebas, G. Langlois )

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

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

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

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

Chapters in edited books

Capitaux propres

Comptabilité Et Analyse Financière, Une Perspective Globale, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 463-508

Principes comptables et régularisations de fin d’exercice

Comptabilité Et Analyse Financière, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 165-208

Regroupements d’entreprises

Comptabilité Et Analyse Financière, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 561-602

Le lanceur d’alerte. Un essai de perspective historique

Histoire, Management Et Société. Mélanges En L’honneur D'Henri Zimnovitch, Yves Levant, Classiques Garnier, 367-380

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

IFRS and France: A Marriage of Convenience

Ifrs In A Global World: International And Critical Perspectives On Accounting - Essays In Honor Of Professor Jacques Richard, D. Bensadon and N. Praquin, Springer, New York, 247-261

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

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

Proceedings

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)

Working papers

Breaking Incommensurability Boundaries? On the Production and Publication of Inter-Paradigmatic Research

Cahier de Recherche du Groupe HEC , 2023

Name and Shame: A Comparative and International Analysis of Whistleblowing Laws

Cahier de Recherche du Groupe HEC , 2023

Some Seem to Know: Banks’ Lending Decisions After Activist Short Sellers’ Attacks

SSRN Electronic Journal , 2023

Some Seem to Know: Banks’ Lending Decisions After Activist Short Sellers’ Attacks

Cahier de Recherche du Groupe HEC , 2023

Pessimistic Target Prices by Short Sellers

Cahier de Recherche du Groupe HEC , 2021

Deploying Narrative Economics to Understand Financial Market Dynamics: An Analysis of Activist Short Sellers’ Rhetoric

Cahier de Recherche du Groupe HEC , 2020

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

Cahier de Recherche du Groupe HEC , 2019

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

Scientific articles

Shaping collective action in financial markets through popular expertise: An analysis of Due Diligence posts on WallStreetBets

Accounting, Organizations and Society, Forthcoming, vol. 114, n° 101588, (in coll. with Y. GENDRON, A. MADELAINE, L. PAUGAM)

Breaking Incommensurability Boundaries? On the Production and Publication of Inter-Paradigmatic Research

Qualitative Research in Accounting and Management, October 2023, vol. 20, n° 5, pp 675-694, (in coll. with Y. GENDRON, L. PAUGAM)

Sustainability reporting: Is convergence possible?

Accounting in Europe, 2023, vol. 20, n° 2, pp 139-165, (in coll. with L. PAUGAM)

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 L. PAUGAM, Y. GENDRON)

Books

Comptabilité et analyse financière – Une perspective globale - 5ème édition

EMS Editions (in coll. with Y. DING, L. PAUGAM, G. LANGLOIS )

Financial Accounting and Reporting – A Global Perspective - 7th edition

Cengage (in coll. with Y. DING, L. PAUGAM )

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 Y. DING, L. PAUGAM )

Financial accounting and reporting - A global perspective - 6th edition

Cengage (in coll. with Y. DING, L. PAUGAM )

Chapters in edited books

Capitaux propres

Comptabilité Et Analyse Financière, Une Perspective Globale, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 463-508

Principes comptables et régularisations de fin d’exercice

Comptabilité Et Analyse Financière, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 165-208

Regroupements d’entreprises

Comptabilité Et Analyse Financière, Hervé Stolowy, Yuan Ding, Luc Paugam et Georges Langlois, EMS Editions, 561-602

Le lanceur d’alerte. Un essai de perspective historique

Histoire, Management Et Société. Mélanges En L’honneur D'Henri Zimnovitch, Yves Levant, Classiques Garnier, 367-380

Proceedings

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)

Working papers

Breaking Incommensurability Boundaries? On the Production and Publication of Inter-Paradigmatic Research

Cahier de Recherche du Groupe HEC , 2023

Name and Shame: A Comparative and International Analysis of Whistleblowing Laws

Cahier de Recherche du Groupe HEC , 2023

Some Seem to Know: Banks’ Lending Decisions After Activist Short Sellers’ Attacks

SSRN Electronic Journal , 2023

Some Seem to Know: Banks’ Lending Decisions After Activist Short Sellers’ Attacks

Cahier de Recherche du Groupe HEC , 2023

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
  • 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
  • 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
  • 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

    • 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