Michael J. Lee

Ph.D. Candidate in Accounting, Cornell University
Michael Lee Cornell Accounting Ph.D. Candidate headshot
I am on the 2026–27 academic job market.

My research examines how accounting information shapes corporate investment decisions, particularly under uncertainty. I combine NLP- and LLM-based textual analysis with novel datasets, including data on oil drilling activities, housing construction, and satellite imagery. My job market paper studies firms' decisions to issue quantitative CAPEX guidance from a real options perspective.

Before joining Cornell, I spent 4 years at PwC Korea as an auditor and valuation specialist, with experience in audit, valuation, due diligence, accounting advisory, and internal control engagements. I am also a Certified Public Accountant in Korea (KICPA).

Outside research, I enjoy swimming and cooking Korean and Italian food, sometimes with a fusion twist.

Email LinkedIn Cornell ORCID SSRN CV
Michael Lee Cornell Accounting Ph.D. Candidate headshot
Research Interests

My research examines how accounting information shapes corporate investment decisions, particularly under uncertainty. I combine NLP- and LLM-based textual analysis with novel datasets, including data on oil drilling activities, housing construction, and satellite imagery.

Working Papers
[1]
CAPEX Guidance and Realizable Real Options
Dissertation
  • Best Paper Award, 2026 KAAPA PhD Conference
  • Presentations: Cornell University; 2026 KAAPA PhD Conference
[2]
From Green to Green: Local Parks and Corporate Green Transition
with Eric Yeung (Cornell) and Yao Lu (Cornell)
R&R at Journal of Accounting Research
  • Based on first-year proposal at Cornell University
  • Presentations: 2026 Hawaii Accounting Research Conference; Cornell University*; University of Rochester*; University of Hong Kong*
Abstract ▼

We identify the openings of new urban parks in major U.S. cities as “green shocks” and examine whether increases in green space near firms’ headquarters are associated with firms’ green transition, as manifested in both real effects, such as carbon emissions, and information effects, such as voluntary environmental disclosure. Consistent with dynamic green transition theory, we document significant declines in firms’ carbon emissions and increases in voluntary environmental disclosure following green shocks, especially among firms that rely more heavily on external financing for green transition. Evidence from satellite imagery further supports green exposure as a plausible mechanism.

[3]
Government-Produced Disclosure and Corporate Investment Decisions: Evidence from Housing Construction
with Mani Sethuraman (Cornell)
  • Preparing for journal submission
[4]
Proprietary Costs of R&D Capitalization
with Jaeho Yoo (UNC)
  • Submitted to 2026 FARS Midyear Meeting
  • Presentations: 2026 AAA Global Connect; Cornell University; University of North Carolina at Chapel Hill*

* Indicates presentations by coauthor.

Selected Works in Progress
[1]
Information Ban and Human Capital Investment
with Bobby Lin (Cornell) and David Park (CUHK, Shenzhen)
[2]
Accounting Information and Real Options: Evidence from Oil Drilling Activity
with Songyi Han (BI Norwegian Business School)

Download CV PDF

My teaching emphasizes connecting accounting concepts to professional practice through my PwC experience, being readily available to students, and using new technologies, including custom GPT tools.

Instructor, Cornell University

Financial Accounting (Fall 2024, Fall 2025)

  • Average instructor rating: 4.3/5.0 (median: 5.0/5.0)
  • Selected student comments:
    “I wanted to take this opportunity to express my appreciation for your hard work and support… Your explanations and insights really helped me grasp the concepts in accounting, and I truly enjoyed your classes.”
    “The lectures are very well organized and do a good job of presenting the information.”
    “When the instructor shared learnings from his professional career.”
    “The instructor is very eager in office hour and ready to answer any questions.”
Teaching Assistant
  • Cornell University, 2022–2025
  • Seoul National University, 2020–2022
  • Indiana University, Fall 2015