Yonsei School of Business

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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


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


Professor of Accounting, Yonsei School of Business, 2019-present
Director, Yonsei Center for Shared Management Research, Yonsei School of Business, 2021-present
Korea ESG Club Advisory Professor, Korea Economic Daily (한국경제), 2021-present
Associate Dean of International Affairs, Yonsei School of Business, 2021-2023
Chair of the Accounting Division, Yonsei School of Business, 2022
Academic Director, Global MBA, Yonsei School of Business, 2019-2022
Director, Yonsei Center for Global Business Ethics and Responsibility, Yonsei School of Business, 2016-2019
Associate Professor of Accounting, Yonsei School of Business, 2012-2019
Associate Professor of Accounting, School of Management, University of Alcala, 2007-2012.
Postdoctoral Fulbright Visiting 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, Santander Bank and CIFF, 2006-2012
Academic Director, Ph.D. program in Management Sciences, University of Alcala, 2009-2012
Assistant Professor of Accounting, School of Management, University of Alcala, 1998-2003.


Behavioral Research in Accounting; Business Ethics and Responsibility; Environmental, Social, and Governance (ESG) performance assessment; Stock Valuation Using Financial, Environmental, Social, And Governance (ESG) Factors; Financial Statement Analysis


Behavioral Research in Accounting; Auditing; Environmental, Social and Governance (ESG) performance assessment; Decision processes of users of information (auditors, financial analysts, and loan officers); Corporate Social Responsibility; Inside Debt


The Two Sides of Corporate Social Responsibility and the Quality of Internal Control Audit Opinions. International Journal of Auditing, 2024 (Co-authors: Encarna Guillamon and Belen Blanco).

Audit fees and hours of Chinese companies listed on the South Korean stock market. Spanish Journal of Finance & Accounting , 2023 (Co-authors: B. Choi, J. Byun, and D. Moon)

Affective Reactions to Sustainability Performance Unintendedly Influence Lending Decisions? Corporate Social Responsibility and Environmental Management, 2021 (Co-authors: D. Moon, J. Perez, and B. Choi)

Corporate Sustainability and the Market Pricing of Accounting Numbers, Corporate Social Responsibility and Environmental Management 2021 (Co-authors: Choi, H., B. Choi, and D. Moon)

Do Investors React Differently to Material versus Immaterial CSR Activities? Contemporary Accounting Research, 2020 (Co-authors: Doocheol Moon, Hun Tong Tan, and Yu Yao)

Empirical analysis of the effect of economic rents on the auditor’s independent behavior, Spanish Journal of Finance & Accounting, 2018 (Co-authors: 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 (Co-authors: 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 (Co-authors: Jacinto Marabel, Doocheol Moon, and Jose Antonio Gonzalo)

Can corporate social responsibility bias lending decisions? Spanish Journal of Finance & Accounting, 2016 (Co-authors: Doocheol Moon and Javier Perez)

Corporate Social Responsibility Enhanced Control Systems Reducing the Likelihood of Fraud? Journal of Business Ethics, 2015 (Co-authors: 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 (Co-authors: Doocheol Moon and HyunJung Choi)

Can expertise mitigate auditors’ unintentional biases? Journal of International Accounting, Auditing, and Taxation, 2015 (Co-authors: Waymond Rodgers, Emiliano Ruiz, Jose A. Gonzalo-Angulo)

Audit Report Information Content and the Provision of Non-Audit Services: Evidence from Spanish Lending Decisions? Journal of International Accounting, Auditing, and Taxation, 2014 (Co-authors: Emiliano Ruiz and HyunJung Choi)

Do Investors Value a Firm's Commitment to Social Activities? Journal of Business Ethics, 2013 (Co-authors: 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 (Co-authors: 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 (Co-authors: Waymond Rodgers, Emiliano Ruiz)

Potential Model Misspecification Bias: Formative Indicators Enhancing Theory for Accounting Researchers? The International Journal of Accounting, 2011 (Co-author: Waymond Rodgers)

Ethical Dilemmas in Auditing: Dishonesty or Unintentional Bias? Journal of Business Ethics, 2010 (Co-authors: 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 (Co-authors: Waymond Rodgers and Jose Antonio Gonzalo)

Auditor independence and corporate governance: Are auditors’ opinions ethically unbiased? European Journal of International Management, Special Issue on Corporate Governance, 2009 (Co-authors: Waymond Rodgers and Jose Antonio Gonzalo)

Information content and recency effect of the audit report in loan rating decisions? Accounting & Finance, 2007 (Co-authors: Waymond Rodgers and Jose Antonio Gonzalo)

Are Spanish auditors skeptical in going concern evaluations? Managerial Auditing Journal, 2006 (Co-author: Francisco Esteo)

La hipotesis de la profecia autocumplida en la evaluacion de la evidencia en el contexto de la gestion continuada? Revista de Contabilidad-Spanish Accounting Review, 2008

Informe de Auditoria y comportamiento de los analistas de riesgos: el modelo de revision de creencias? Spanish Journal of Accounting and Finance, 2005

Una comparacion intersectorial y por tamano de la calidad de la informacion contable? Spanish Journal of Accounting and Finance, 2002 (Co-authors: Emiliano Ruiz Barbadillo and Nieves Gomez Aguilar)

Working Papers: 
  • 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 Josep Tribó ), preparing for submission


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, 2020, 2022.
Honorary Alumni Award, University of Cadiz, 2019


Keynote Speeches

n the Media

Executive Training Experience 

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: The Accounting ReviewAuditing: A Journal of Practice & TheoryBehavioral Research in AccountingJournal of Business EthicsManagement Accounting ResearchIndustrial Management & Data SystemsAcademia Revista Latinoamericana de AdministracionSpanish Journal of Finance and AccountingSpanish 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 - 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 and 2017 editions.


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