Charles M. C. Lee

Professor, Accounting
+1 (650) 721-1295
CV

The Moghadam Family Professor and Professor of Accounting

Academic Area:

Research Statement

Broadly speaking, I am interested in the effect of human cognitive constraints on market participants and other factors that impact the efficiency with which market prices incorporate information.

Teaching Statement

Lee's teaching interests are closely aligned with his research interests and investment experience. He has taught PhD and Masters students at the GSB. Alphanomics, his Masters-level Elective, is focused on active investing in public equity markets.

Bio

Charles M. C. Lee is Moghadam Family Professor and Professor of Accountingat the Graduate School of Business (GSB), Stanford University. 

Professor Lee has published extensively in leading academic journals on topics that include behavioral finance, financial statement analysis, equity valuation, market microstructure, quantitative investing, and security market regulation.

From 2004 to July 2008, Dr. Lee was Managing Director at Barclays Global Investors (BGI; now Blackrock). As Global Head of Equity Research, he led the firm’s world-wide active equity research team and was Co-Head of its North American active equity business. During his tenure, BGI had over $300 billion in active equity asset under management. He joined Stanford GSB as Visiting Professor in July 2008 while continuing to serve as an exclusive senior consultant to BGI, and became a full-time faculty member in July 2009.

Dr. Lee has received numerous honors and award, including twelve school-wide or national-level Teaching Excellence Awards and the Notable Contribution to Accounting Literature Prize. His recent honors include the Q Group’s 2018 Roger F. Murray Prize, the 2017 Stanford GSB’s Distinguished MBA Teaching Excellence Award, and the 2017 AAA Innovation in Financial Accounting Education Award. He was the Presidential Scholar of the AAA in 2015, and has received the Stanford Asian American Faculty Award for Outstanding Achievements and Service to the Asian community.

Professor Lee is a current member of the Stanford University Advisory Board (UAB), and has served as Editor or Associate Editor of many academic journals, including:TheAccounting Review, the Journal of Finance, the Journal of Accounting and Economics, the Journal of Accounting Research, the Review of Accounting Studies,Management Science (Finance),and the Financial Analysts Journal. His research has also been featured in popular media outlets such as: the Economist, the New York Times, the Wall Street Journal, National Public Radio (NPR), the LA Times, Business Week, CNBC, Forbes, Barron’s, Worth, Smart Money, and Institutional Investors.

Professor Lee received his BMath from the University of Waterloo (1981), and his MBA (1989) and PhD (1990) from Cornell University. He has been a faculty member at the Michigan Business School (1990-95) and the Johnson Graduate School of Management, Cornell University (1996-2004). From 1995-96 he was Visiting Economist at the New York Stock Exchange. At Cornell he held the Henrietta Johnson Louis Professorship in Management and was Director of the Parker Center for Investment Research.

Prior to entering academic life, he spent five years in public accounting, the last three in the National Research Department of KPMG, Toronto, Canada. He holds a Certificate in Biblical Studies from Ontario Theological Seminary, and is fluent in Mandarin Chinese.

 

Academic Degrees

  • PhD in Accounting, Johnson Graduate School of Management, Cornell University, 1990
  • MBA, Johnson Graduate School of Management, Cornell University, 1989
  • Certificate in Biblical Studies, Ontario Theological Seminary, 1986
  • Chartered Accountant, Institute of Chartered Accountants of Ontario, Canada, 1982
  • B of Mathematics, University of Waterloo, Canada, 1981

Academic Appointments

  • Moghadam Family Professor of Management, Stanford GSB, 2015- present
  • Joseph McDonald Professor of Accounting, Stanford GSB, 2009-2015
  • Visiting Professor of Accounting, Stanford GSB, 2008-2009
  • Co-chair of Accounting Department, Guanghua School of Management, Peking University, 2003-2012
  • Henrietta Johnson Louis Professor of Management, Cornell Johnson Graduate School of Management, 1998-2007
  • Director of the Parker Center for Investment Research, Cornell Johnson Graduate School of Management, 1997-2004
  • Associate Professor of Accounting, Cornell Johnson Graduate School of Management, 1996-1997
  • Associate Professor of Accounting, University of Michigan, 1994-1996
  • Assistant Professor of Accounting, University of Michigan, 1990-1994

Professional Experience

  • Co-founder and General Partner, Nipun Capital LP, 2011-2017
  • Global Head of Equity Research, Barclays Global Investors (now Blackrock), 2006-2008
  • Co-Head of North America Active Equity Strategies, Barclays Global Investors (now Blackrock), 2006-2007
  • Head of U.S. Equity Research, Barclays Global Investors (now Blackrock), 2005-2006
  • Director of Accounting Research, Barclays Global Investors (now Blackrock), 2004-2004
  • Visiting Research Economist, New York Stock Exchange, 1995-1996
  • Senior Manager (last position held), National Research Department of KPMG Peat Marwick Thorne, Toronto, Canada, 1982-1985

Awards and Honors

  • The Q Group's 2018 Roger F. Murray Prize (1st place)
  • R. Michael Shanahan Faculty Fellow, 2017-2018
  • MBA Distinguished Teaching Award, Stanford GSB, 2017
  • 2017 AAA Innovation in Financial Accounting Education Award (for "Alphanomics" course)
  • 2015 American Accounting Association Annual Meeting Presidential Scholar
  • 2014 Stanford University Asian American Faculty Award for Outstanding Achievements and Service to the University
  • 2014 Faculty of Mathematics Alumni Achievement Medal, University of Waterloo
  • Distinguished Visiting Faculty, AAA Doctoral Consortium, 1999, 2003, 2012, 2017, 2018
  • 2014 China Accounting and Finance Review, Best Paper Award
  • Distinguished Service Award, PhD Program, Stanford GSB, 2013
  • Graduate School of Business Trust Faculty Fellow, Stanford GSB, 2012-2013
  • Teaching Excellent Award, MSx (formerly Sloan) Program, Stanford GSB, 2012
  • Teaching Excellent Award, MSx (formerly Sloan) Program, Stanford GSB, 2011
  • Robert and Marilyn Jaedicke Faculty Fellow, Stanford GSB, 2010-2011
  • Tang Peng Yeu Distinguished Visiting Professor, National University of Singapore, 2010
  • Price Waterhouse Coopers Global Competency Center Research Grant, 2004
  • Moskowitz Prize for Best Quantitative Study of Socially Responsible Investing, 2003
  • AAA Notable Contribution to Accounting Literature Award, 2003
  • MBA Apple Award for Teaching Excellence, Cornell Johnson School, 1997, 2000, 2003
  • Stephen Russell Distinguished Teaching Award, Cornell Johnson School, 2002
  • Faculty Award for Research Excellence, Cornell Johnson School, 2001

Publications

Journal Articles

Books

Working Papers

Service to the Profession

American Accounting Association (AAA)

  • AAA New Faculty Consortium: Distinguished Lecturer, 1998, 1999, 2003, 2004, 2005, 2006, 2009, 2016, 20020; Team Leader, 1995, 1996; Planning Committee, 1998-1999
  • AAA Doctoral Consortium: Distinguished Faculty, 1999, 2003, 2012, 2017, 2018
  • AAA Innovation in Accounting Education Award Committee, 2003-2004
  • AAA Research Advisory Committee, 1998-2002
  • AAA Annual Meeting Program Selection Committee, 1993, 1994, 1996, 1999
  • AAA Financial Accounting and Reporting Concepts Committee, 1996-1997
  • AAA Financial Accounting Standards Committee, 1995-1996
  • AAA Notable Contribution Award Screening Committee, 1994-1995

Editorial Boards

  • The Accounting Review, Co-Editor, 2011-2014
  • Management Science, Associate Editor in Finance, 2009-2011
  • Journal of Accounting and Economics, Associate Editor, 2000-2006
  • Review of Accounting Studies, Co-Editor, 1996-2006
  • Journal of Accounting Research, Editorial Board, 2001-2003
  • Journal of Finance, Associate Editor, 2000-2003
  • Financial Analysts Journal, Associate Editor, 1999-2008
  • Journal of Financial Markets, Associate Editor, 1996-2008

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