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  • Andres Guiral
  • Division   Accounting
    Ph.D. University of Alcala
  • Lab   Business Hall #638
  • Contact   02-2123-6567
  • Email   andres.guiral@yonsei.ac.kr


Postdoctorate Emphasis: Business Ethics. University of California, Riverside (UCR), 2004-2006
Ph.D Emphasis: Decision Making in Auditing. University of Alcala, Spain, 2003
M.B.A. Major: Auditing. University of Alcala and Spanish Institute of Certified Accounts, Spain, 1999
B.A. Major: Accounting. University of Cadiz, Spain, 1996


Professor, School of Business, Yonsei University, 2019-Present
Academic Director, Global MBA, Yonsei University, 2019-Present
Associate Professor, School of Business, Yonsei University, 2012-2019
Director, Yonsei Center for Global Business Ethics and Responsibility, 2016-2019
Postdoctoral Fulbright Fellow, Accounting and Information Systems Department, Anderson Graduate School of Management, University of California, Riverside (UCR), 2004-2006
Visiting Professor, Accounting School, University of Kansai (Japan), April-June, 2006
Visiting Professor, Sheffield University Management School (UK), August-November 1999.
Visiting Professor, Fachhochschule Pforzheim, July 2002.
Academic Director, Master in Banking and Finance (taught in English), Santander Bank and CIFF, 2006-2012
Academic Director, Ph.D program in Management Sciences, University of Alcala, 2009-2012
Assistant Professor, School of Management, University of Alcala, 1998-2003.


Financial accounting
Behavioral decision making
Financial statement analysis
Business Ethics and Corporate Social Responsibility


Decision processes of users of information (auditors, financial analysts and loan officers)
Corporate social responsibility
Conflicts of interests
Audit market


“Do Investors React Differently to Material versus Immaterial CSR Activities?” Contemporary Accounting Research, forthcoming (with Doocheol Moon, Hun Tong Tan, and Yu Yao).

"Audit fee magnitude and auditor independence", Spanish Journal of Finance & Accounting, forthcoming (with Emiliano Ruiz, Estibaliz Biedma).

“Managing Risk with Socially Responsible Actions in Firms Involved in Controversial Activities and Earnings Management”, Spanish Journal of Finance & Accounting, 2018, (with Encarna Guillamon and Belen Blanco).

“Fair value accounting in the absence of prudence in accounting standards: an illustration with exotic derivatives”, Spanish Journal of Finance & Accounting, 2017, (with Jacinto Marabel, Doocheol Moon and Jose Antonio Gonzalo Perez).

“Can corporate social responsibility bias lending decisions?”, Spanish Journal of Finance & Accounting, 2016, (with Doocheol Moon and Javier Perez).

“Corporate Social Responsibility Enhanced Control Systems Reducing the Likelihood of Fraud”, Journal of Business Ethics, 2015 (with Waymond Rodgers and Arne Soderbom).

“Can Excellence in Corporate Social Performance Improve Investors’ Financial Assessments and Credibility of Managers’ Forecasts?”, Asia-Pacific Journal of Financial Studies, 2015 (with Doocheol Moon and HyunJung Choi).

“Do Investors Value a Firm's Commitment to Social Activities?”, Journal of Business Ethics, 2013 (with Waymond Rodgers and Helen Choy).

“Do Non-socially Responsible Companies Achieve Legitimacy Through Socially Responsible Actions? The Mediating Effect of Innovation”, Journal of Business Ethics, 2013 (with Belen Blanco and Encarna Guillamon).

“Corporate Social Performance, Innovation Intensity, and Financial Performance: Evidence from Lending Decisions”, Behavioral Research in Accounting, 2012.

“To What Extent are Auditors’ Attitudes toward the Evidence Influenced by the Self-Fulfilling Prophecy?”, Auditing: A Journal of Practice & Theory, 2011 (with Waymond Rodgers, Emiliano Ruiz).

“Potential Model Misspecification Bias: Formative Indicators Enhancing Theory for Accounting Researchers”, The International Journal of Accounting, 2011 (with Waymond Rodgers).

“Ethical Dilemmas in Auditing: Dishonesty or Unintentional Bias”, Journal of Business Ethics, 2010 (with Waymond Rodgers, Emiliano Ruiz and Jose Antonio Gonzalo)

“Different Pathways that Suggest Whether Auditors’ Going Concern Opinions are Ethically Based”, Journal of Business Ethics, 2009 (with Waymond Rodgers and Jose Antonio Gonzalo)

“Information content and recency effect of the audit report in loan rating decisions”, Accounting & Finance, 2007 (with Waymond Rodgers and Jose Antonio Gonzalo)

“Are Spanish auditors skeptical in going concern evaluations?”, Managerial Auditing Journal, 2006 (with Francisco Esteo)

Working Papers:

  • "Do Affective Reactions to CSR Performance Influence Lending Decisions?" (with Doocheol Moon, Javier Perez and Jungyoon Byun), preparing for submission
  • “Can the Auditor’s Client Involvement in CSR Activities Affect the Quality of Internal Control Opinions?”(with Belen Blanco, and Encarna Guillamón), preparing for submission
  • “CEOs’  Debt-Based Compensation and Stakeholder Incentive Alignment: The Relationships Between CEO Inside Debt, CSR and Firm Performance” (with Belen Blanco, Luis Gómez-Mejía, Encarna Guillamón, Geoff Martin and JosepTribó ), revising


Best young Researcher, University of Alcala, 2009
Research award in Financial Accounting “Jose Maria fernandez Pirla” (XIV Edition), Spanish Institute of Certified Accountants (ICAC), 2007.
Best paper award, “The link between corporate social responsibility and corporate financial performance on the valuation of common stock”, 31st European Accounting Association Annual Congress, Rotterdam, 2008.
Extraordinary Doctorate Award, University of Alcala, 2003.
Outstanding Teaching Award, School of Business, Yonsei University, 2017, 2018.
Honorary Alumni Award, University of Cadiz, 2019


Executive training experience in teaching Advanced Financial Accounting (M&A, Consolidation, Financial statement analysis, Tax accounting, etc.) for loan officers and internal auditors at Santander Bank (more than 350 hours), and Advanced Financial Accounting, Auditing & IFRS for partners, managers and senior auditors at KPMG Peat Marwick (more than 250 hours).

Referee for: Auditing: A Journal of Practice & Theory, Behavioral Research in Accounting, Journal of Business Ethics, Management Accounting ResearchIndustrial Management & Data Systems, Academia Revista Latinoamericana de Administracion, Spanish Journal of Finance and Accounting, Spanish Accounting Review, AAA Annual Meeting (Auditing Section), ABO Accounting, Behavior and Organizations Research Conference, AOM Academy of Management Meeting (OB Division).

Global Business Ethics Case Competition organizer and mentor - in collaboration with Boston University (USA), Newcastle University (UK), Fudan University (Shanghai, China) the Indian Institute of Management Ahmedabad (India’s), and St. Gallen University (Switzerland). 2016, 2017 and 2018 editions. Link


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