Dr. Picheng Lee

Professor of Accounting · Pace University

Dr. Picheng Lee

Ph.D., CMA — Artificial Intelligence (AI) Collaborator in Accounting & Finance

Bringing artificial intelligence into accounting and finance scholarship: applying machine learning, deep learning, text analytics, and probabilistic topic modelling to financial-distress prediction, sustainability disclosure, corporate governance, and audit quality.

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Portrait of Dr. Picheng Lee

Areas of Expertise

  • AI & Machine Learning in Accounting & Finance
  • Corporate Governance & Sarbanes‑Oxley Compliance
  • CSR & Environmental Sustainability Analytics
  • Earnings Management, Forecasts & Financial Distress
  • Intangible Assets & Innovation

About Dr. Lee

A scholar bringing artificial intelligence into accounting and finance research.

Dr. Picheng Lee is a Professor of Accounting at the Lubin School of Business, Pace University, New York. His research spans artificial intelligence in accounting and finance, corporate governance, corporate social responsibility, environmental sustainability, earnings management, earnings forecasts, financial distress, intangible assets, and the Sarbanes‑Oxley Act, with publications in leading journals including Auditing: A Journal of Practice & Theory, Journal of Accounting, Auditing and Finance, and IEEE Transactions on Engineering Management.

Dr. Lee is an artificial intelligence (AI) collaborator in accounting and finance. Since 2001 — long before the current wave of AI — his work has applied artificial neural networks, deep learning, text analytics, probabilistic topic modelling, and machine learning to bankruptcy prediction, financial-distress forecasting, sustainability and ESG disclosure, and audit quality, collaborating with co-authors and students to bring AI methods into mainstream accounting and auditing research.

39
Peer-Reviewed Publications
9
Research Streams
25+
Years of Scholarship

Research Interests

Artificial Intelligence & Machine Learning Corporate Governance Corporate Social Responsibility Environmental Sustainability Earnings Management Earnings Forecasts Financial Distress Intangible Assets & Innovation Sarbanes‑Oxley Act

Teaching

  • Accounting Information Systems: Audit and Controls
  • Cost / Managerial Accounting
  • Financial Accounting

Publications by Research Area

Peer-reviewed research organized into nine streams, led by artificial intelligence. Use the filters to browse a specific area.

Artificial Intelligence in Accounting & Finance 3 publications

  • 2026“Can News Headlines Improve Financial Distressed Firms’ Prediction? Comparison of Different Machine Learning Results” (with L.-H. Kao and M.-T. Huang), International Journal of Services and Standards, pp. 198–230. https://doi.org/10.1504/IJSS.2026.153427
  • 2026“Enhancing Deforestation Risk Reduction and Management through Multi-Layer Learning: A Probabilistic Topic Modelling of CDP Survey Responses” (with C. N. Madu), International Journal of Services and Standards, pp. 1–30. https://doi.org/10.1504/IJSS.2025.151249
  • 2001“Bankruptcy Prediction of Financially Stressed Firms: An Examination of the Predictive Accuracy of Artificial Neural Networks” (with M. P. Anandarajan and A. Anandarajan), International Journal of Intelligent Systems in Accounting, Finance and Management, Vol. 10 (June): 69–81. https://doi.org/10.1002/isaf.199

Auditing & Financial Reporting 6 publications

  • 2015“Compliance and Determinants of US-listed Foreign Firms’ 20-F Filings under the New Securities and Exchange Commission Accelerated Deadline” (with K. Chan, S. El-Gazzar, and R. A. Jacob), Journal of Financial Regulation and Compliance, Vol. 23(2): 161–178. https://doi.org/10.1108/JFRC-02-2014-0008
  • 2011“Firm Performance Following Auditor Changes for Audit Fee Savings” (with K. Chan, B. Farrell, and P. Healy), Journal of Business and Economics Research, Vol. 9(10): 17–25. https://doi.org/10.19030/jber.v9i10.5949
  • 2009“Trends of Accounting Restatements in 2000–2007 and Big Four/Five Auditors” (with K. Chan and B. Farrell), Journal of Business and Economics Research, Vol. 7(8). https://doi.org/10.19030/jber.v7i8.2326
  • 2007“Using the Event Study Methodology to Measure the Social Costs of Litigation — A Re-Examination Using Cases from the Automobile Industry” (with S. Govindaraj and D. Tinkelman), Review of Law and Economics, Vol. 3(2): 341–382. https://doi.org/10.2202/1555-5879.1087
  • 2003“Statistical Choices and Apparent Work Outcomes in Auditing” (with G. Kleinman), Journal of Managerial Psychology, Vol. 18(2): 105–125. https://doi.org/10.1108/02683940310465018
  • 2003“The Effects of the Interaction Between Personal and Group Level Factors on the Group Outcomes of Simulated Auditor and Client” (with G. Kleinman and D. Palmon), Group Decision and Negotiation, Vol. 12(1): 57–84. https://doi.org/10.1023/A:1022256730300

Corporate Governance 6 publications

  • 2021“The Effect of Auditor Industry Specialization and Board Independence on the Cash Flow Reporting Classification Choices under IFRS” (with S. Chiang and G. Kleinman), International Journal of Accounting and Information Management, Vol. 29(1): 147–168. https://doi.org/10.1108/IJAIM-07-2019-0084
  • 2019“The Impact of Operational Risk Incidents and Moderating Influence of Corporate Governance on Credit Risk and Firm Performance” (with C. Ko and A. Anandarajan), International Journal of Accounting and Information Management, Vol. 27(1): 96–110. https://doi.org/10.1108/IJAIM-05-2017-0070
  • 2017“Do Non-staggered Board Elections Matter to Earnings Quality and the Value Relevance of Earnings and Book Value?” (with S. Chiang and G. Kleinman), Review of Accounting and Finance, Vol. 16(1): 46–66. https://doi.org/10.1108/RAF-01-2015-0006
  • 2013“Corporate Governance and Innovative Success: An Examination of the Moderating Influence of a Firm’s Life Cycle Stage” (with S. Chiang and A. Anandarajan), Innovation: Management, Policy & Practice, Vol. 15(4): 500–514. https://doi.org/10.5172/impp.2013.15.4.500
  • 2009“Corporate Ownership Structure and Innovation: Evidence from Taiwan’s Electronics Industry” (with C. Chin, Y. Chen, and G. Kleinman), Journal of Accounting, Auditing, and Finance, Vol. 24(1): 145–175. https://doi.org/10.1177/0148558X0902400108
  • 2008“The Association between Corporate Governance and Earnings Quality: Further Evidence Using the Gov-score” (with W. Jiang and A. Anandarajan), Advances in Accounting, Vol. 24: 191–201. https://doi.org/10.1016/j.adiac.2008.08.011

Corporate Social Responsibility 2 publications

  • 2025“The Effect of Tournament Incentives on Environmental, Social, and Governance (ESG) Performance” (with G. Kleinman and A. Anandarajan), International Journal of Disclosure and Governance, Vol. 22(2): 397–408. https://doi.org/10.1057/s41310-024-00236-5
  • 2017“Using Formal Concept Analysis to Examine Water Disclosure in Corporate Social Responsibility Reports” (with G. Kleinman and C. Kuei), Corporate Social Responsibility and Environmental Management, Vol. 24(4): 341–356. https://doi.org/10.1002/csr.1427

Environmental Sustainability 2 publications

  • 2020“Using Text Analytics to Apprehend Urban Sustainability Development” (with G. Kleinman and C. Kuei), Sustainable Development, Vol. 28(4). https://doi.org/10.1002/sd.2045
  • 2017“Urban Sustainability Management: A Deep Learning Perspective” (with C. Madu and C. Kuei), Sustainable Cities and Society, Vol. 30(3): 1–17. https://doi.org/10.1016/j.scs.2016.12.012

Earnings Management 4 publications

  • 2023“The Effect of Key Audit Matters on the Association of Credit Risk and Earnings Quality” (with S. Chiang and G. Kleinman), Managerial Auditing Journal, Vol. 38(7): 997–1023. https://doi.org/10.1108/MAJ-02-2022-3465
  • 2008“Is Earnings Fraud Associated with Higher Deferred Tax and/or Book Minus Tax Levels?” (with M. Ettredge, L. Sun, and A. Anandarajan), Auditing: A Journal of Practice and Theory, Vol. 27(1): 1–33. https://doi.org/10.2308/aud.2008.27.1.1
  • 2006“The Big Bath Hypothesis: Accruals Management in Response to Dividend Reduction”, International Journal of Management, Vol. 23(2): 281–288.
  • 2002“Earnings Management Response to Debt Covenant Violations and Debt Restructuring” (with B. Jaggi), Journal of Accounting, Auditing and Finance, Vol. 17(4): 295–324. https://doi.org/10.1177/0148558X0201700402

Earnings Forecasts 3 publications

  • 2006“Corporate Ownership Structure and the Accuracy and Bias of Mandatory Earnings Forecasts” (with C. Chin, G. Kleinman, and M. Lin), Journal of International Accounting Research, Vol. 5(2): 41–62. https://doi.org/10.2308/jiar.2006.5.2.41
  • 2006“Earnings Forecast Disclosure Regulation and Earnings Management: Evidence from Taiwan IPO Firms” (with B. Jaggi, C. Chin, and H.-W. Lin), Review of Quantitative Finance & Accounting, Vol. 26(3): 275–299. https://doi.org/10.1007/s11156-006-7434-2
  • 2005“The Impact of Financial Forecasts Regulation on IPO Anomalies: Evidence from Taiwan” (with Y. Wang, C. Chin, and G. Kleinman), Journal of Financial Regulation and Compliance, Vol. 13(2): 146–166. https://doi.org/10.1108/13581980510621929

Financial Distress 3 publications

  • 2009“The Value Relevance of Corporate Restructuring Charges” (with B. Jaggi, S. Govindaraj, and B. Lin), Review of Quantitative Finance & Accounting, Vol. 32(2): 101–128. https://doi.org/10.1007/s11156-008-0088-5
  • 2005“Going Concern Modeling: A Study of Factors Influencing the Auditor Decision” (with J. Wei and A. Anandarajan), Journal of Forensic Accounting, Vol. 6(1): 55–76.
  • 2003“Bankruptcy Prediction Using Neural Networks” (with A. Anandarajan and M. Anandarajan), in Business Intelligence Techniques: A Perspective from Accounting and Finance, Chapter 7, pp. 119–134. (Book chapter) https://doi.org/10.1007/978-3-540-24700-5_7

Intangible Assets & Innovation 6 publications

  • 2012“The Effect of R&D Tax Credit on Innovation: A Life Cycle Analysis” (with S. Chiang and A. Anandarajan), Innovation: Management, Policy & Practice, Vol. 14(4): 510–523. https://doi.org/10.5172/impp.2012.14.4.510
  • 2010“R&D Tax Credit and Operating Performance: Implications for Managers” (with S. Chiang and A. Anandarajan), Management Decision, Vol. 48(8): 1198–1211. https://doi.org/10.1108/00251741011076744
  • 2007“The Effect of Innovative Activity on Firm Performance: The Experience of Taiwan” (with A. Anandarajan, C. Chin, and H. Chi), Advances in Accounting, Vol. 23: 1–30. https://doi.org/10.1016/S0882-6110(07)23001-9
  • 2007“Does Innovation Matter to Conference Calls?” (with C. Chin, G. Kleinman, and P. Wang), IEEE Transactions on Engineering Management, Vol. 54(4): 1–18. https://doi.org/10.1109/TEM.2007.906841
  • 2006“IPO Anomalies and Innovation Capital” (with C. Chin, G. Kleinman, and P. Chen), Review of Quantitative Finance & Accounting, Vol. 27(1): 67–91. https://doi.org/10.1007/s11156-006-8543-7
  • 2006“Patent Citation, R&D Spillover, and Tobin’s Q: Evidence from the Taiwan Semiconductor Industry” (with C. Chin, H. Chi, and A. Anandarajan), Review of Quantitative Finance & Accounting, Vol. 26(1): 67–84. https://doi.org/10.1007/s11156-006-7034-1

Sarbanes-Oxley Act 4 publications

  • 2012“The Effects of Section 404 of the Sarbanes-Oxley Act on Audit Fees of Foreign Firms Listed on U.S. Exchanges” (with K. Chan, R. Jacob, and G. Seow), Review of Accounting and Finance, Vol. 11(3): 236–256. https://doi.org/10.1108/14757701211252573
  • 2009“The Impact of S-OX on Internal Control Remediation” (with K. Chan and G. Kleinman), International Journal of Accounting and Information Management, Vol. 17(1): 53–65. https://doi.org/10.1108/18347640910967735
  • 2008“Earnings Management of Firms Reporting Material Internal Control Weaknesses Under Section 404 of the Sarbanes-Oxley Act” (with K. Chan and B. Farrell), Auditing: A Journal of Practice and Theory, Vol. 27(2): 161–180. https://doi.org/10.2308/aud.2008.27.2.161
  • 2008“Why Did Management and Auditors Fail to Identify Material Internal Control Weaknesses in Their Initial SOX 404 Reviews?” (with K. Chan and G. Seow), Review of Accounting and Finance, Vol. 7(4): 338–354. https://doi.org/10.1108/14757700810920757

Get in Touch

For research collaboration, AI in accounting and finance, or student advising.

Dr. Lee welcomes conversations with students, researchers, and professionals about artificial intelligence in accounting and finance, research collaboration, and student advising.

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Lubin School of Business, Pace University
New York, NY, USA
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