COVID-19 research and information


Professor of Financial Accounting, Valuation

Professor Introduction

Woo-Jong Lee is Professor of Accounting at SNU Business School. Lee received his BBA and PhD degrees from Seoul National University, and taught at The Hong Kong Polytechnic University before returning to his alma mater. He teaches financial and managerial accounting courses of all layers. Lee's research covers broad issues in accounting, auditing, and corporate finance. He has published in elite accounting and management journals including Journal of Accounting and Economics, Contemporary Accounting Research, and Management Science. His works have also been cited in leading professional magazines such as Institutional Investor and CFA Digest. He is currently an associate editor of Journal of Contemporary Accounting and Economics (SSCI).

Education & Experiences


EDUCATION Ph.D., BBA, Seoul National University, Seoul, Korea

The Hong Kong Polytechnic University, Hong Kong, China (Associate Professor, tenured)
Deakin University, Melbourne, Australia (Visiting Professor)

RESEARCH INTEREST Financial Reporting, Equity Valuation, Corporate Governance


  1. Best Paper Award, Korea Game Society, 2020
  2. Best Paper Award, Joint Conference of 8 Accounting Associations, 2020
  3. Outstanding Teaching Award, SNU Business School, 2018
  4. Distinguished Referee Award, Korean Academic Society of Taxation, 2018
  5. Best Paper Award, The Korean Institute of Certified Public Accountants (KICPA), 2016
  6. SNU invitation program for distinguished scholars, 2016
  7. Best Paper Award, The 5th Biennial Conference of the World Accounting Frontier Series, 2015
  8. SNU Business School Faculty Grant, 2015-
  9. Hong Kong Government General Research Fund, 2013
  10. Faculty Award for Outstanding Performance, HKPolyU, 2013
  11. Faculty Development Scheme, HKPolyU, 2013
  12. Best Paper Award, The 3rd Annual Conference of the World Accounting Frontier Series, 2011
  13. Best Paper Award, AAA Western Region Conference, 2011
  14. Department/ Competitive Research Fund, HKPolyU, 2008-2014
  15. Best Paper Award, Korean Accounting Review, 2008
  16. Graduate Fellowship, SNU, 2003-2008


Selected Publications

  1. “The Effect of External Audits: Evidence from Voluntary Audits of Hedge Funds”, with Dichu Bao, Jong-Hag Choi, and Byoung Uk Kang. Accounting Horizons, forthcoming.
  2. "Asymmetric Inventory Management and the Direction of Sales Changes”, with Iny Hwang, Taejin Jung and Daniel Gunhee Yang. Contemporary Accounting Research, forthcoming.
  3. "Pro-Labor Institutions and Corporate Employment Efficiency”, with Boochun Jung, Tony Kang, and Gaoguang Zhou. Journal of Accounting, Auditing and Finance, forthcoming.
  4. "The Importance of Organizational Context for the Relation between Human Capital Investment and Firm Performance: Evidence from Labor Unions”, with Hee-Yeon Sunwoo, Justin Law, and Seungbin Oh. Journal of Management Accounting Research, forthcoming.
  5. “Political Uncertainty and Cost Stickiness: Evidence from National Elections around the World”, with Walid Saffar and Jeffrey Pittman. Contemporary Accounting Research, 2020, 37 (2): 1107-1139
  6. “Labor Unions and Income Smoothing”, with Sophia Hamm and Boochun Jung. Contemporary Accounting Research, 2018, 35 (3): 1201-1228
  7. “Do Labor Unions Always Lead to Underinvestment?”, with Hyungjin Cho, Bryan Byung-Hee Lee, and Byungcherl Charlie Sohn. Journal of Management Accounting Research, 2017, 29 (1): 45-66
  8. “The Impact of Dividend Covenants on Investment and Operating Performance”, with Boochun Jung and Sunny Yang. Journal of Business, Finance, and Accounting, 2016, 43 (3)&(4): 414-447
  9. “Do Managers Withhold Good News from Labor Unions?”, with Richard Chung, Bryan Byung-Hee Lee, and ByungcherlCharlie Sohn. Management Science, 2016, 62 (1): 42-68
  10. “Debt Financing and Accounting Conservatism in Private Firms”, with In-Mu Haw and Jay Junghun Lee. Contemporary Accounting Research, 2014, 31 (4): 1220-1259
  11. “Financial Reporting Quality and Labor Investment Efficiency”, with Boochun Jung and David P. Weber. Contemporary Accounting Research, 2014, 31 (4): 1047-1076
  12. “Does Information Risk Affect the Implied Cost of Equity Capital? An Analysis of PIN and Adjusted PIN”, with Lee-Seok Hwang, Seung-Yeon Lim, and Kyung-Ho Park. Journal of Accounting and Economics, 2013, 55 (2-3), 148-167
  13. “Do Takeover Defenses Impair Equity Investors’ Perception of ‘High Quality’ Earnings?”, with Lee-Seok Hwang. Journal of Accounting, Auditing, and Finance, 2012, 27(3), 325-358