Germán López Espinosa - Accredited Associate Professor (Titular de Universidad) by ANECA

Germán López Espinosa Universidad de Navarra Facultad de Ciencias Económicas y Empresariales Edificio Bibliotecas (Entrada Este) 31080 - Pamplona E-mail: glespinosa@unav.es

Universidad de Navarra Facultad de Ciencias Económicas y Empresariales

Affiliation

• Universidad de Navarra. Business Department. Accredited Professor (Titular de Universidad) by ANECA.
  E-mail: glespinosa@unav.es
  
  

Accounting Institutions

• Member of the ICAC (Spanish Accounting Standards Board) working group on Not-for-Profit Entities (2010-2011).
  
  
• International Accounting Standards Committee Foundation (IASCF – IASB). Academic Fellow – Education Projects. July 2008 – July 2009.
  
  

EDUCATION

• Feb 2006 – Aug 2006, Visiting Scholar at Stern School of Business (NYU)
  
  
• 1999-2004, PhD in Business Administration, Universidad de Alicante, Spain
  
  
• 2000-2001, MA in Financial Accounting and Auditing, Colegio de Economistas, Alicante, Spain
  
  
• 1994-1998, BSc in Business Administration, Universidad de Alicante, Spain
  
  
• 1991-1994, BSc in Statistics, Universidad de Alicante, Spain

TEACHING

Accounting II

RESEARCH

Main research lines: International Accounting, Financial Analysts and Banking.

Editorial Board
Financial Analysts Journal

INTERNATIONAL JOURNALS
Published and forthcoming papers

• “Banks’ Net Interest Margin in the 2000’s: A Macro-Accounting International Perspective” with Antonio Moreno and Fernando Pérez de Gracia, Journal of International Money and Finance, Vol. 30 No. 6 (2011), pp. 1214-1233. Social Sciences Citation Index.
  

• “Fundamentals and the Origin of Fama-French Factors. The Case of the Spanish Market” with Carlos Forner Rodríguez and Javier De Peña Fariza, Czech Journal of Economics and Finance, Vol. 60 No. 5 (2010), pp. 426-446. Social Sciences Citation Index.
  

• “Endogenous problems in cross-sectional valuation models based on accounting information” with Luis A. Gil Alana and Raúl Íñiguez Sánchez, Review of Quantitative Finance & Accounting, Vol. 37 (2011), pp. 245-265.
  

• “Equity-Liabilities Distinction: The Case for Co-operatives” with John Maddocks and Fernando Polo Garrido, Journal of International Financial Management & Accounting, Vol. 20 No. 3 (2009), pp. 274-306. Social Sciences Citation Index.
  

• “The Value of Adjusting the Bias in Recommendations: International Evidence” with Marina Balboa Ramón and Juan Carlos Gómez Sala, European Financial Management, Vol. 15 No. 1 (2009), pp. 208-230. Social Sciences Citation Index.
  

• “Rolling Quarterly Accruals and Cash Flows by Industry” with Joshua Livnat, Financial Analysts Journal, May/June 2008, Vol. 64, No. 3, pp. 67-79. Social Sciences Citation Index.
  

• “Does the Value of Recommendations Depend on the Level of Optimism? A Country-Based Analysis” with Marina Balboa Ramón and Juan Carlos Gómez Sala, Journal of Multinational Financial Management, Vol. 18 (2008), pp. 405-426.
  

• “Accounting Measures and International Pricing Models: Justifying Accounting Homogeneity” with Javier Gómez Biscarri, Journal of Accounting and Public Policy, Vol. 27 (2008), pp. 339-354. Social Sciences Citation Index.
  

• “The Influence of Differences in Accounting Standards on Empirical Pricing Models: An Application to the Fama-French Model” with Javier Gómez Biscarri, Journal of Multinational Financial Management, Vol. 18 (2008), pp. 369-388.
  

NATIONAL JOURNALS
Published and forthcoming papers

• “The Relationship between Risk and Expected Returns with Incomplete Information”, with Joaquín Marhuenda Fructuoso and Belén Nieto Doménech, Investigaciones Económicas (now SERIES), Vol. 33 No. 1 (2009), pp. 69-96. Social Sciences Citation Index.
  

• “Information and Prospects: Investment Opportunities in Small-Cap Segment” with Róbert Ferenc Veszteg, Revista de Economía Financiera, Vol. 16 (2008), pp. 52-76.
  

• “The Value of Consensus Recommendations in the Spanish Stock Market”, with Juan Carlos Gómez Sala, Moneda y Crédito, Vol. 223 (2006), pp. 159-197.
  

• “Is it Profitable to Follow the Level of the Recommendations? An Empirical Analysis”, with Juan Carlos Gómez Sala, Spanish Journal of Finance and Accounting, Vol. 131 (2006), pp. 170-191. Social Sciences Citation Index.
  

• “Changes in Consensus and Dispersion: How Do They Affect the Price of Stocks?”, with Joaquín Marhuenda Fructuoso, Spanish Journal of Finance and Accounting, Vol. 129 (2006), pp. 251-274. Social Sciences Citation Index.
  

• “The Influence of Differential of Information on the Asset Pricing in the Spanish Capital Market”, with Joaquín Marhuenda Fructuoso, Spanish Journal of Finance and Accounting, Vol. 127 (2005), pp. 977-999. Social Sciences Citation Index.
  

• “The Valuation of Intangible Assets in the Spanish Capital Market”, with Raúl Íñiguez Sánchez, Spanish Journal of Finance and Accounting, Vol. 125 (2005), pp. 459-499. Social Sciences Citation Index.
  

LAW JOURNALS
Published and forthcoming papers

• “La constitución o ampliación de capital ¿Cuándo se debe considerar ésta como parte del patrimonio neto de una entidad?”, with Kepa Izaguirre Paredes, Derecho de Sociedades, Vol. 33 (2009), pp. 221-232.
  

• “Fair Value Accounting and Firm Valuation” with Mary E. Barth and Javier Gómez Biscarri.
  

• “International Accounting Differences and Earnings Smoothing in the Banking Industry” with Marina Balboa and Antonio Rubia.
  

• “Wholesale Funding and Systemic Risk in Global Banking” (previous version: Asymmetric CoVaR: An Application to International Banking) with Antonio Moreno, Antonio Rubia and Laura Valderrama.
  

• “Fair Value Accounting, Earnings Management and the use of Available-for-Sale Instruments by Bank Managers” with Mary E. Barth and Javier Gómez Biscarri.
  

• “La Contabilidad Financiera. Guía Pedagógica adaptada al Plan General de Contabilidad 2007” [Financial Accounting. A guide through the new Spanish Accounting Standards] with Alfonso López, J.L. (Editor), Acedo Gallardo, F. and Mollá Cots, S. Thomson-Aranzadi language: Spanish, I.S.B.N.: 978-84-9903-199-6.
  

• Editor of “Fundamentos teóricos y prácticos del nuevo Plan General Contable” [Everything about new Spanish Accounting Standards] with Acedo Gallardo, F., Alfonso López, J.L., Forner Rodríguez, C., Garrido Miralles, P., Iborra Torregrosa, V., Iñiguez Sánchez, R., Izquierdo Martín , D., López Alberts, H., Poveda Fuentes, P., Ragué Santos de La Madrid, J., Torres Sempere, J. and Vaelló Sebastiá, T. Thomson-Aranzadi, language: Spanish, I.S.B.N.: 978-84-8355-699-3.
  

• “Consultas al ICAC: Ejemplos prácticos con sus implicaciones fiscales” [Complex Financial Accounting Problems submitted to the Instituto de Contabilidad y Auditoría de Cuentas (ICAC): Solutions with its Tax Implications] with Francisco J. Murillo Martín, Editorial ECU, language: Spanish, I.S.B.N.: 84-8454-296-3.
  

• “La problemática contable de las sociedades patrimoniales y el régimen simplificado de la contabilidad. Aspectos contables y fiscales” [Accounting Problems with Heritage Firms and the New Simplified Regime: Accounting and Tax View] with Francisco J. Murillo Martín, Editorial ECU, language: Spanish, I.S.B.N.: 84-8454-3986.
  

• “Could investors obtain returns using analysts’ recommendations? The value of financial analysts” with Gómez-Sala, J.C. Lambert Academic Publishing, language: English, I.S.B.N.: 978-3-8383-1480-8.
  

• “A Guide through International Financial Reporting Standards (IFRSs)”, July 2008, Education Bound Volume.
  

• “International Financial Reporting Standards (IFRSs). A Briefing for Chief Executives, Audit Committees and Boards of Directors”, 2009.
  

• Training Material. IFRS for SMEs, December 2009.
  

• “Accounting harmonization and financial pricing models: A review.” Book entitled “International Accounting in the 21st Century.”, Nova Science Publishers, Inc. New York, I.S.B.N.: 978-1-60876-018-3.
  

• Reference to my working paper with Javier Gómez-Bicarri in Financial Times, October 20 2006.
  
  

• Article titled “La información cotiza al alza” in La Vanguardia, November 10 2002, Section: Money, explaining the most important results of the work: “The Influence of Differential of Information on Asset Pricing in the Spanish Capital Market”.
  

• Research Project of KPMG’s Global Valuation Institute.
  
  

• Research Project “Jerónimo De Ayanz” to create an International Research Network.
  
  

• Research Project of Generalitat Valenciana, GVPRE/2008/316.
  
  

• Research Project of the Spanish Ministry of Science and Technology, ECO2008-02599.
  
  

• Research Project of the IAAER (International Association for Accounting Education and Research) and KPMG: “Research on Defining, Recognizing and Measuring Liabilities”. Years: 2007-2008. Program Objective: developing theory and evidence to inform IASB and FASB.
  
  

• Research Project of Universidad de Navarra (PIUNA), “Financial Risk and Investors' Behavior”.
  
  

• Research Project of European Foundation for Public Policies (EZAI FUNDAZIOA), “The influence of IAS/IFRS on Co-operatives”.
  
  

• Research Project of the Spanish Ministry of Science and Technology, SEJ2005-09372.
  
  

• Research Project of the Spanish Ministry of Science and Technology, BEC2003-05959.
  
  

• Research Project of the Spanish Ministry of Science and Technology, BEC2002-03797.
  
  

• Research project with Spanish Financial Analysts Institute, Year: 2004.
  
  

• Research project with Spanish Financial Analysts Institute, Year: 2003.
  
  

• November 2011, XIX Finance Forum, Granada.
  
  

• July 2011, VII International Research Symposium for Accounting Academics – Current Trends in Accounting Research, Ramón Areces Foundation, Madrid.
  
  

• May 2011, XXXIV European Accounting Association Congress, Rome (Italy).
  
  

• November 2010, XIX Finance Forum, Elche.
  
  

• August 2010, American Accounting Association. Annual Meeting. San Francisco (USA).
  
  

• May 2010, XXXIII European Accounting Association Congress, Istanbul (Turkey).
  
  

• June 24-25, 2009. IASC Foundation. IFRS Conference: Milan.
  
  

• May 2009, XXXII European Accounting Association Congress, Tampere (Finland).
  
  

• March 25th 2009, Project of the IAAER (International Association for Accounting Education and Research) and KPMG, London (ICAEW).
  
  

• August 6th, 2008, Project of the IAAER (International Association for Accounting Education and Research) and KPMG, Anaheim. American Accounting Association.
  
  

• August 3-6, 2008, American Accounting Association. Annual Meeting. Anaheim (California).
  
  

• June 9-10, 2008, 6th Infiniti Conference on International Finance, Dublin.
  
  

• April 2008, Project of the IAAER (International Association for Accounting Education and Research) and KPMG, Rotterdam. European Accounting Association.
  
  

• March 2008, VI Workshop on Empirical Research in Financial Accounting, Colmenarejo, Universidad Carlos III.
  
  

• November 2007, XV Foro de Finanzas, Palma de Mallorca.
  
  

• September 2007, XVII Congreso de ACEDE, Sevilla.
  
  

• September 2007, Project of the IAAER (International Association for Accounting Education and Research) and KPMG, London (ICAEW).
  
  

• June 2007, European Financial Management Association (EFMA) – Open Forum, Vienna.
  
  

• June 2007, 5th Infiniti Conference on International Finance, Dublin.
  
  

• May 2007, XL Meeting of the Euro Working Group on Financial Modelling, Rotterdam.
  
  

• April 2007, XXX European Accounting Association Congress, Lisbon.
  
  

• February 2007, XVII Jornadas Hispano-Lusas de Gestión Científica, Logroño.
  
  

• November 2006, XIV Foro de Finanzas, Castellón.
  
  

• October 2006, V Workshop de Investigación Empírica en Contabilidad Financiera, Madrid.
  
  

• September 2006, XII Encuentro AECA, Córdoba
  
  

• September 2006, XVI Congreso de ACEDE, Valencia.
  
  

• July 2006, 4th Finance Conference (Portuguese Finance Network), Oporto.
  
  

• June 2006, EFMA 2006 Annual Meeting, Madrid.
  
  

• September 2005, XIII Congreso de AECA, Oviedo.
  
  

• March 2005, IV Workshop de Investigación Empírica en Contabilidad Financiera, Sevilla.
  
  

• December 2004, XII Foro de Finanzas, Barcelona.
  
  

• September 2004, XIV Congreso de ACEDE, Murcia.
  
  

• November 2003, III Workshop de Investigación Empírica en Contabilidad Financiera, Alicante.
  
  

• September 2003, XII Congreso de AECA, Cádiz.
  
  

• September 2003, XIII Congreso de ACEDE, Salamanca.
  
  

• April 2003, XXVI European Accounting Association Congress, Sevilla.
  
  

• November 2002, X Foro de Finanzas, Sevilla.
  
  

• September 2002, XII Congreso de ACEDE, Palma de Mallorca.
  
  

• June 2002, XVI Congreso de AEDEM, Alicante.