Michel Magnan

Michel Magnan is Professor and Stephen A. Jarislowsky Chair in Corporate Governance in at Concordia's John Molson School of Business. He holds a PhD in Business Administration from the University of Washington, is a Fellow Chartered Professional Accountant (FCPA) and an administrateur de sociétés certifié (ASC). In 2014, he was inducted into the Royal Society of Canada. His research activities are focused on financial statement analysis, governance, performance and compensation management, corporate social responsibility, and environmental and ethical issues. He has published more than 100 articles on these topics in academic and professional journals, and his research findings have been presented at numerous national and international conferences.

Between 2006 and 2010, he was Editor in Chief of Contemporary Accounting Research. He is currently Associate Editor of European Accounting Review and of Canadian Journal of Administrative Sciences and serves on several editorial boards.

Dr. Magnan is actively involved in the business and professional communities, serving as a member of Canada’s Accounting Standards Board, as a member of the board of directors of Valeurs Mobilieres Desjardins Inc., as an Academic Adviser to the Corporate Finance Qualification program of CPA-Canada and as a CIRANO Fellow. He is also a director of the Institute for the Governance of Private and Public Organizations.

Dr. Magnan served as Associate Dean of External Affairs at JMSB from 2002 to 2006 and as Associate Dean of the Masters and Graduate Diploma Programs from 2006 to 2007. He is currently the Director of the Desjardins Centre for Innovation in Business Financing.

He has received awards and prizes from various organizations and his research has received funding from a variety of agencies, including the Social Sciences and Humanities Research Council of Canada and the Fonds de recherche du Québec – Société et culture.

Dr. Magnan is often quoted in the local, provincial and national media on issues connected to financial reporting and governance.

Education

PhD (University of Washington)

Areas of expertise

• Accounting
• Environmental and social performance and disclosure
• Executive compensation
• Financial reporting
• Financial statement analysis
• Governance

Teaching activities

Dr. Magnan has been teaching since 1982. His teaching background covers most topics in accounting (financial statement analysis, advanced financial accounting, auditing, management controls, etc.). He currently teaches at the MBA, EMBA and Ph.D. levels courses in business valuation, financial reporting, research and management controls.

He has extensive experience in executive education in several organizations, including Ordre des CA, CPA Canada, Desjardins, RONA.

In 2009, Dr. Magnan obtained one of the 26 Bourses d'excellence en enseignement de la gestion granted by the Ministère de l'Éducation, loisirs et sports.

Over the years, Dr. Magnan has held several visiting teaching appointments in overseas business schools such as Aarhus Business School, ESSEC Business School, Toulouse Business School, Université Toulouse-Capitole, HEC Genève, Université de Rennes I IGR.

Publications

Recent refereed journal articles

Magnan, M.; Pelletier, K. 2017. SNC-Lavalin en situation de crise :enjeux pour les administrateurs et investisseurs. Revue internationale de cas en gestion.

El Masri, T., Boulianne, E., Magnan, M. and Tekathen, M. 2017. (Non-)Use of Management Control for CalibratingFamily Firms’ Dual Identity. Qualitative Research in Accounting andManagement. Forthcoming.

Li, T.; Durnev, A.; Magnan, M. 2017. Beyond tax avoidance: offshore firms’institutional environment and financial reporting quality. Journal of Business Finance & Accounting. Forthcoming.

Cormier, D., Gordon,I., Magnan, M. 2016. Do Markets And Stakeholders Care About Corporate EthicalIssues? The Case of Social Disclosures. ManagementDecision. 54 (10), 2485-2506.

Cormier, D., Demaria, S., Magnan, M. 2017. Beyond earnings: do EBITDA reporting and governancematter for market participants? ManagerialFinance, 43(2), 193-211.

Bonetti, P.; Parbonetti, A.; Magnan, M. 2016. Transiting toward International FinancialReporting Standards: The Interface between Country-level and Firm-levelGovernance. Journal of Business Financeand Accounting 43 (9-10), 1059-1094

Cormier, D. andMagnan, M. 2016. Does a firm’s exposure to ethical failures matter to financialmarkets? A governance perspective. Journalof Management & Governance. Online, February 8.

Cormier, D. andMagnan, M. 2016. The Advent of IFRS in Canada: Incidence on Value Relevance. Journal of International Accounting Research15 (3), 113-130.

Magnan, M., Cormier,D.; Antunes-Lapointe, P. 2016. CEO power and CEO hubris: a prelude to financialmisreporting? Management Decision 54(2),522-554.

Li, T.; Durnev, A.; Magnan, M. 2016. Are Offshore Firms Worth More? Journalof Corporate Finance 36, 131-156.

Cormier, D. andMagnan, M., 2015. The economic relevance of environmental disclosure and itsimpact on corporate legitimacy: An empirical investigation. Business Strategy and the Environment,24(6), 431-450.

Cormier, D.; Antunes-Lapointe, P.; Magnan, M. 2015. Continuous Environmental DisclosureObligations under Canadian Stock Market Regulation: The Impact on Analysts’Forecast Properties. Journal ofManagement and Governance 19(4), 897-925.

Magnan, M.; Menini, A.; Parbonetti, A. 2015. Fair Value Accounting and Financial Markets:Information or Confusion? Review ofAccounting Studies 20(1): 559-591

Sur, S.; Magnan, M.; Cordeiro, J. 2015. Disentangling Ceo Compensation: A Simultaneous Examination Of Time,Industry, And Firm-Level Effects. CanadianJournal of Administrative Sciences 32(1): 30-46

For earlier citations please refer to Dr. Magnan's CV. Recent book chapters Cormier, D. and Magnan, M., 2016. Canada. IFRS in Canada: Game Changeror Neutral Mutation?. In IFRS in a Global World (D. Bensadon and N.Praquin, Editors). Springer International Publishing: New York, London. Pp.231-246.

Ratiu,Catalin; Magnan, Michel; Kim, Jeong; Sur, Sujit. 2014.Book chapter titled “Corporate governance in emerging markets: Agency andinstitutional relationships’ in ‘Building businesses in emerging and developingcountries: challenges and opportunities’, Ed.: Elie Chrysostome, Rick Molz, LiYan. Routledge Publishing

Refereed conference proceedings Sur, S.; Lvina, E.; Magnan, M. 2008. Why Do Boards Differ? Because Owners Do! Strategic Management Proceedings, ASAC. June.

André, P.; Magnan, M.; St-Onge, S. 2004. Stakeholder Value Implications from the Merger between Abitibi-Consolidated and Donohue: A Clinical Study. Administrative Sciences Association of Canada. Québec. June.

Gélinas, P.; Magnan, M.; St-Onge, S. 2004. Increased Compensation Costs: An Externality Of Mandatory Executive Compensation Disclosure. Administrative Sciences Association of Canada. Quebec. June.

André, P.; Magnan, M.; St-Onge, S.; Houle, K. 2004. The Compensation of CEOs of Firms Involved in M&A Transactions. Administrative Sciences Association of Canada. Quebec. June.

Renaud, S.; St-Onge, S.; Magnan, M. 2004. The Impact of Stock Purchase Plan Participation on Employees’ Annual Job Performance Ratings. Performance Measurement Association, Edinburgh, Scotland. July.

Magnan, M.; St-Onge, S.; Cormier, D. 2004. The Adoption and Success of Profit-Sharing Plans In Strategic Business Units: Opportunism or Contingency? Performance Measurement Association, Edinburgh, Scotland. July.

Renaud, S.; St-Onge, S.; Magnan, M.. 2003. The Impact of Stock Purchase Plan Participation on Employees’ Annual Job Performance Ratings. Eastern Academy of Management, Porto, Portugal. June.

Magnan, M.; St-Onge, S.; Cormier, D. 2003. Broad-Based Profit-Sharing Plans in Strategic Business Units: A Tool For Performance Management. Eastern Academy of Management, Porto, Portugal. June.

Magnan, M.; St-Onge, S.; Bioule, S-P; Prost, C. 2002. La gestion des expatriés : une étude auprès des firmes multinationales canadiennes. Association des psychologies du travail de langue française. Bruxelles. July.

Berthelot, S.; Magnan, M.; Cormier, D. 2001. Évaluation de la pertinence de l’information divulguée en matière de frais futurs d’enlèvement des immobilisations et de restauration de lieux. Association des sciences administratives du Canada. Annual conference – Finance division. London, Ontario. May.

Renaud, S.; St-Onge, S.; Magnan, M. 2000. The Impact of Stock Purchase Plans on Employees’ Individual Job Performance: The Case of a Financial Institution. Human Resources Division, Administrative Sciences Association of Canada, Montreal, Quebec, July: 1-12.

Magnan, M.; St-Onge, S.; Calloc’h, Y. 1999. Investors’ Appreciation of Executive Stock Option Grants. First International Conference, IberoAmerican Academy of Management, Madrid, Spain. On CD-ROM.

Rakotosoa, E.; Magnan, M.; St-Onge, S. 1999. The Impact of Directors’ Power on the Use of Performance-contingent Compensation for CEOs. First International Conference, IberoAmerican Academy of Management, Madrid, Spain. On CD-ROM.

Fall, M.L.; Cormier, D.; Magnan, M. 1999. Impact de l’octroi d’options sur la performance financière de la firme. Actes de colloque, congrès 1999 de l’Association française de comptabilité, Bordeaux, May.

Magnan, M.; St-Onge, S.; Lalande, M-P. 1997. Incidences de la participation aux bénéfices sur la performance des entreprises. Actes de colloque, congrès 1997 de l’Association francophone de la gestion des ressources humaines, Montreal, September: 393-403.

For earlier conference proceedings please refer to Dr. Magnan's CV.

Refereed conference presentations Durnev, A.; Li, Tiemei; Magnan, Michel. 2011. The Governance of Offshore Firms: Implications for Financial Reporting. American Finance Association. January.

Magnan, M.; Lapointe, P.; Cormier, D. 2010. Managerial Hubris and Financial Frauds. Canadian Academic Accounting Association, Vancouver, May 30.

Mingzhi, L.; Magnan, M. Accounting Conservatism, Internal Controls and the Cost of Bonds. Canadian Academic Accounting Association, Vancouver, May 30.

Durnev, A.; Li, T.; Magnan, M. 2010. Are Offshore Firms Worth More? Association academique international de gouvernance, Metz, May.

Mangen, C.; Magnan, M. 2010. Corporate Restructurings. European Accounting Association. Istambul. May.

Yao, Y.; Magnan, M. 2009. Empirical Investigation without Theory is Blind: Making Sense of the Gap between Outrage at CEO Compensation Practices and Professor Kaplan’s Empirical Findings about CEO Pay. Academy of Management, Chicago. August.

Durnev, A.; Li, T.; Magnan, M. 2009. The Governance of Offshore Firms: Implications for Financial Reporting. American Accounting Association, New York. August.

Durnev, A.; Li, T.; Magnan, M. 2009. The Governance of Offshore Firms: Implications for Financial Reporting. Canadian Academic Accounting Association, Montreal. June.

Magnan, Michel; Cormier, Denis; Lapointe-Antunes, Pascale. 2009. Like Moths Attracted to Flames : Financial Reporting Frauds. American Accounting Association, New York. August.

Magnan, Michel; Cormier, Denis; Lapointe-Antunes, Pascale. 2009. Like Moths Attracted to Flames : Financial Reporting Frauds. Canadian Academic Accounting Association, Montreal. June.

Liu, M.; Magnan, M. 2009. Private Control of Self-dealing Regulation and Corporate Valuation: International Evidence. American Accounting Association, New York. August.

Liu, M.; Magnan, M. 2009. Private Control of Self-dealing Regulation and Corporate Valuation: International Evidence. Canadian Academic Accounting Association, Montreal. June.

Xu, B.; Magnan, M. 2008. Information Uncertainty, Corporate Disclosure and Stock Return Volatility. American Accounting Association. Anaheim. August.

Shi, N., Magnan, M.; Kim, J.B. 2008 Why Do Cross-listed Firms in the U.S. Voluntarily Release Management Earnings Forecasts? American Accounting Association. Anaheim. August.

Zhan, Jun; Magnan, Michel. 2008. Auditor Incentive and Audit Size: Evidence from Chinese Audit Market. American Accounting Association. Anaheim. August.

Shi, N., Magnan, M.; Kim, J.B. 2008. Cross Listing, Management Earnings Forecasts, and Firm Values. Academy of International Business. Milan. June.

Shi, N., Magnan, M.; Kim, J.B. 2008 Why Do Cross-listed Firms in the U.S. Voluntarily Release Management Earnings Forecasts? Academy of International Business. Milan. June.

Zhan, Jun; Magnan, Michel. 2008. Auditor Incentive and Audit Size: Evidence from Chinese Audit Market. Canadian Academic Accounting Association. Winnipeg. May.

Shi, N.Y.; Magnan, Michel; Kim, J.B. 2008. Cross Listing, Management Earnings Forecasts, and Firm Values. Canadian Academic Accounting Association. Winnipeg. May.

Lapointe, Pascale; Cormier, Denis; Magnan, Michel. 2008. Distribution Components in Flow-Through Entities: Causes and Consequences of Economic and Governance Factors. Canadian Academic Accounting Association. Winnipeg. May

Shi, N.Y.; Magnan, Michel; Kim, J.B. 2008. Why Do Cross-Listed Firms in the U.S. Voluntarily Release Management Earnings Forecast? Canadian Academic Accounting Association. Winnipeg. May.

Sur, S. ; Cordeiro, J. ; Magnan, M. 2008. A New Perspective On A Perennial Issue: A Simultaneous Examination Of Time, Industry, And Firm-Level Influences On CEO Compensation. Administrative Sciences Association of Canada. Halifax. May.

Xu, B.; Magnan, M. 2008. Information Uncertainty, Corporate Disclosure and Stock Return Volatility. Administrative Sciences Association of Canada. Halifax. May.

Xu, B.; Magnan, M. 2008. Information Uncertainty, Corporate Disclosure and Stock Return Volatility. European Accounting Association. Rotterdam. April

Research activities

Invited research talks and workshops

Durnev, A.; Li, T.; Magnan, M. 2011. Are Offshore Firms Worth More? Workshop at IGR Université de Rennes I. January.

Keynote speaker, Journal of Contemporary Accounting and Economics Symposium, Hong Kong, January 2011.

Durnev, A.; Li, T.; Magnan, M. 2010. Are Offshore Firms Worth More? Workshop at Louisiana State University. March

Durnev, A.; Li, T.; Magnan, M. 2010. Are Offshore Firms Worth More? Workshop at IE (Madrid). February.

Lapointe-Antunes, P.; Magnan, M.; Cormier, D. Like Moths Attracted to Flames : Managerial Hubris and Financial Fraud. Workshop at IGR-Universite de Rennes. January.

Magnan, M. 2009. Le rôle de la comptabilité dans la crise financière. CIRPEE (Centre interuniversitaire sur le risque, les politiques économiques et l’emploi)-HEC Montreal. November.

Magnan, M. 2009. Fair Value Accounting and the Financial Crisis. ESSEC Business School. October.

Magnan, M. 2009. The Financial Reporting Implications from Offshore Firms. ESSEC Business School. October.

Rodrigue, M.; Magnan, M.; Boulianne, E. 2009. Environmental Performance Indicators within a Multinational. IAE Université de Toulouse I et Ecole supérieure de commerce de Toulouse. September.

Magnan, M. 2009. Fair Market Value and the Financial Crisis: Messenger or Contributor. University of Padova. June.

Magnan, M. 2009. Fair Market Value and the Financial Crisis. Canadian Academic Accounting Association annual conference. June.

Magnan, M. 2009. Like Moths Attracted to Flames: Managerial Hubris and Financial Reporting Fraud. Ivey Business School, University of Western Ontario. April.

Magnan, M. 2009. Like Moths Attracted to Flames: Managerial Hubris and Financial Reporting Fraud. ESSEC Business School. February.

Magnan, Michel. 2009. Why Cross-Listed Firms Issue Management Earnings Forecasts? Workshop presentation. Chinese University of Hong Kong. Januar

Magnan, M. 2009. The Financial Crisis: A Governance Perspective. Special Symposium JCAE-Contemporary Accounting Research. Hong Kong. January 2009. Co-Chair, Special Symposium JCAE-Contemporary Accounting Research. Hong Kong. January 2009.

Special presentation at the AMBAQ Grandes Conférences (April 23, 2009)

Special presentation at a CIRANO workshop on the financial crisis (January 8, 2009)

Special presentation at a UQAM Panel Discussion on Fair Value Accounting (October 1st, 2008)

Keynote opening speech, Association francophone de comptabilité, Paris, June 2008.

Shi, N., Magnan, M.; Kim, J.B. 2008. Cross Listing, Management Earnings Forecasts, and Firm Values. American Accounting Association. Anaheim. August.

Awards and Prizes

Best Public Interest PaperAward for The Effect of Disclosure Regulation and Guidelines on theAssociation between Environmental Disclosure and Environmental Performance. Southeast Regional meeting, AmericanAccounting Association (coauthored with Hani Tadros)

Most Highly Cited paper, Management Accounting Research. Rodrigue, M.; Magnan, M.; Boulianne,E. 2013. Stakeholders’ influence on environmentalstrategy and performance indicators: A managerial perspective. ManagementAccounting Research, 24(4), 301-316

Fellow, Royal Society of Canada

Provost’s Circle, ConcordiaUniversity

Best Paper Award for 2015, CanadianJournal of Administrative Sciences. Sur, S.; Magnan, M.; Cordeiro, J. 2015. Disentangling Ceo Compensation:A Simultaneous Examination Of Time, Industry, And Firm-Level Effects. Canadian Journal of Administrative Sciences32(1): 30-46.

Best Research Paper Award,Canadian Institute of Chartered Business Valuators. 2008 Cormier, Denis;Lapointe-Antunes, Pascale; Magnan, Michel. DoInvestors See Through Distributable Cash?

Best paper award in StrategicManagement, ASAC 2008. Sur,Sujit; Lvina, Elena; Magnan, Michel. Why Do Boards Differ? Because Owners Do!

Best case award. CAAA 2005. Magnan,Michel; St-Onge, Sylvie; André, Paul. Gouvernance et rémunération desdirigeants: le cas d’Abitibi-Price 1994-2003

Best PaperAward for the IFSAM-ASAC 2000. Renaud, Stéphane; St-Onge, Sylvie and Magnan, Michel. The Impact of SharePurchase Plans on Individual Performance

ANBAR Award for CitationExcellence (Strategic Management Journal). Magnan, Michel; St-Onge, Sylvie.1998

Gaetan Morin Award for the BestEmerging Researcher, HEC-Montréal

C.D. Mellor Award, Ordre desComptables Agréés. Cormier, Denis; Magnan, Michel. 1996. Le discours environnementalcontenu dans les rapports annuels des firmes canadiennes : une analyse desstratégies de divulgation

Best Paper Award, Human Resources Division, Administrative Sciences Association of Canada 1995 conference. Magnan, Michel; St-Onge, Sylvie; Thorne,Linda.

C.D. Mellor Award, Ordre desComptables Agréés du Québec. Cormier, Denis; Magnan, Michel. 1992. Évaluation du risque de non-continuité del’exploitation

Second Best Paper, CAAA 1990annual conference