Dr Ken Lee

Dr Ken Lee

Associate Professorial Lecturer – MSc Programme Director

Department of Accounting

+44 (20) 7107 5369
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MAR 3.13
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Key Expertise
Valuation Methodologies

About me


Kenneth is an Associate Professorial Lecturer at the London School of Economics and Political Science, where he lectures on financial analysis and equity valuation, as well as being the programme director for the MSc Accounting and Finance and MSc Accounting, Organisations and Institutions. He is also a member of the Capital Markets Advisory Committee (CMAC), a body supported by the IFRS Foundation, which interprets proposed accounting changes from the perspective of capital market participants. 

Before academia Kenneth was a Managing Director & Head of European Equity Research at Barclays Capital, where he worked for 8 years before leaving in August 2017 to take up a number of academic positions. Prior to this he was also a Managing Director and a ranked accounting and valuation analyst at Citi Investment Research in London. During this time Kenneth published extensively on accounting and valuation topics for investors and was ranked in the top 3 in the Institutional Investor Survey over more than a continuous 10-year period.

Kenneth graduated from Trinity College Dublin/Dublin Institute of Technology with a degree in Management Science. He is a Fellow of the Institute of Chartered Accountants, a member of the Institute of Taxation, a CFA Charterholder and a member of the Securities Institute. He holds a doctorate from Aston Business School which focused on how analysts make stock recommendation decisions.


Academic publications

Lee, K. and  Manochin.M., "Sell-side Equity Analysts and Equity Sales: A Study of Interaction." The British Accounting Review 53.5 (2021): 100977.  https://doi.org/10.1016/j.bar.2021.100977

Kennedy, A., O'Gorman, C. & Lee, K. (2021) Have your cake and eat it? Combining structure and agency in management research. European Management Review, 1– 12. https://doi.org/10.1111/emre.12490

Lee, K. (2011). Discussion of ‘IFRS monopoly: the Pied Piper of financial reporting’, Accounting and Business Research, 41(3), 307-308.

Working papers

Authored Books and Illustrative Professional Research Output

Authored Books 

  • Financial Analysis under IFRS. FE Publishing, 6th edition, Kenneth Lee and Deborah Taylor (2018)
  • Company Valuation under IFRS, 3rd edition, Harriman House, Nick Antill, Kenneth Lee and Deborah Taylor (2020)

Illustrative Professional Research Output

  • And now for something completely different — survival kit for the 2005 IFRS changeover, March 2004, 244pgs, Citi Investment Research
  • Prevention is better than cure — A guide to creative accounting under IFRS, September, 2004, 20pgs, Citi Investment Research
  • An (un)level playing field — Calculating a comparable book and equity figure under IFRS, September 2004, 20pgs, Citi Investment Research
  • Quant models and IFRS — A survival guide for quant investors for the 2005 transition, January 2005, 34pgs, Citi Investment Research
  • An American in Europe — What would happen if US GAAP existed in Europe, January 2005, 20pgs, Citi Investment Research
  • Generation (Ta)X – and investors’ guide to analysing tax risk, 218pgs, Citi Investment Research
  • A little lease conversation: leasing Standard nears completion, September 2015, Barclays European Equity Research
  • Global GAAP 2016: A Guide to Accounting and Valuation issues, February 2016, 186pgs, Barclays European Equity Research
  • What Lies beneath: the Search for high quality earnings, May 2016, Barclays European Equity Research
  • Pensionwise, Issue 21, The perfect Storm returns, 5th July 2016, Barclays European Equity Research

Research interests

  • How do sell-side analysts make stock rating decisions;
  • The application of theories from sociology to financial markets;
  • Valuation methodologies.


My research