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Yue Li

Yue Li

Yue Li

Associate Professor of Accounting, Department of Management, University of Toronto Mississauga


PhD, Queen's University
MBA, University of Toronto
BSc, Huazhong University of Science and Technology


Yue Li is Associate Professor of Accounting in the Department of Management at the University of Toronto-Mississauga, with a cross-appointment to the Accounting area at Rotman.  He is a Fellow of the Michael Lee-Chin Family Institute for Corporate Citizenship at Rotman.  His research focuses on the disclosure and valuation relevance of corporate environmental performance and corporate social responsibility, as well as corporate governance and IPO valuation. Yue serves as Ad Hoc Editor for Contemporary Accounting Research, as Associate Editor for the Asia-Pacific Journal of Accounting and Economics, and as Guest Editor for the Journal of Management Accounting Research. 

Academic Positions

  • 2000-Present

    Associate Professor of Accounting, Joseph L. Rotman School of Management, University of Toronto, Toronto, Canada

  • 1995-2000

    Assistant Professor of Accounting, Joseph L. Rotman School of Management, University of Toronto, Toronto, Canada

  • 1994-1995

    Lecturer of Accounting, Joseph L. Rotman School of Management, University of Toronto, Toronto, Canada

Selected Publications - Papers

  • The Valuation Relevance of Greenhouse Gas Emissions under the European Union Carbon Emissions Trading Scheme

    Peter Clarkson, Yue Li, Matthew Pinnuck, and Gordon Richardson

    the European Accounting Review, forthcoming


  • The relevance of environmental disclosures: Are such disclosures incrementally informative?

    Peter Clarkson, Xiao Hua Fang, Yue Li and Gordon Richardson

    Journal of Accounting and Public Policy



    Pages: 410 - 431

  • Voluntary Adoption of Independent Audit Committees: Theory and Empirical Evidence from Toronto Venture Exchange Listed Firms

    Feng Chen and Yue Li

    the Accounting Review

    Issue:Vol. 88, No.6


    Pages: 1939-1969

  • Does it Really Pay to be Green? Determinants and Consequences of Proactive Environmental Strategies

    Clarkson, P. M., Li, Y., Richardson, G. D.,Vasvari, F. P.

    Journal of Accounting and Public Policy

    Issue:Vol. 30


    Pages: pp. 122-144

  • Revisiting the Relation between Environmental Performance and Environmental Disclosure: An Empirical Analysis

    P. Clarkson, Y. Li, G. Richardson, and F. Vasvari

    Accounting, Organizations and Society

    Issue:Volume 33, Issues 4-5


    Pages: pp. 303-327

  • Valuing IPOs Using Price-Earnings Multiples Disclosed by IPO Firms in an Emerging Capital Market

    Firth, M., Y. Li and S. S. Wang

    Review of Pacific Basin Financial Markets and Policies

    Issue:Volume 11, Issue 3


    Pages: pp. 429 – 463

  • Simultaneous Signaling in IPOs via Management Earnings Forecasts and Retained Ownership: An Analysis of the Substitution Effect

    Li, Y., and B. McConomy

    Journal of Accounting, Auditing, and Finance

    Issue:Vol. 19, No.1


    Pages: pp. 1-28

  • The Market Valuation of Environmental Capital Expenditures by Pulp and Paper Companies

    Clarkson, P., Y. Li, and G. Richardson

    the Accounting Review

    Issue:Vol. 79, No. 2


    Pages: pp. 329-353

  • Time-Varying Default Risk Premiums in the Eurodollar Deposit Market

    Li, Y. and D. G. Wei

    Advances in Quantitative Analysis of Finance and Accounting

    Issue:Vol. 9


    Pages: pp. 1-29

  • Disclosure of Environmental Information by Canadian Manufacturing Companies: A Voluntary Disclosure Perspective

    Bewley, K. and Y. Li

    Advances in Environmental Accounting and Management

    Issue:Vol. 1


    Pages: pp. 201-226

  • An Empirical Examination of Factors Affecting the Timing of Environmental Accounting Standard Adoption and the Impact on Corporate Valuation

    Li, Y., and B. McConomy

    Journal of Accounting, Auditing, and Finance

    Issue:Vol. 14, #3, Summer


    Pages: pp. 279-313

  • Corporate Disclosure of Environmental Liability Information: Theory and Evidence

    Li, Y., G. D. Richardson and D. Thornton

    Contemporary Accounting Research

    Issue:Vol. 14, No. 3 (Fall)


    Pages: pp. 435-474

Selected Publications - Books and Chapters

  • A Workable and Effective Corporate Governance System for China's State Owned Enterprises

    Gordon, M., Y. Li, and Z. L. Tian

    in China's Tax Reform Options, edited by Trish Fulton, Jinyan Li and Dianqing Xu, World Scientific Publishing


    Pages: pp. 255-292

  • Ownership and Control of State Owned Enterprises in China

    Gordon, M., Y. Li, and Z. L. Tian

    in Taxation in Modern China, edited by Donald Brean, Routledge


    Pages: pp. 245-283

Recent Presentations

  • Corporate Environmental Compliance Risk and Audit Fees

    Yue Li, Dan Simunic, and Minlei Ye

    AAA Annual Meeting


  • Recognition and Valuation Relevance of Asset Retirement Obligations by Canadian Natural Resource Companies

    Yue Li, Bruce McConomy and Thomas Schneider

    CAAA Conference


  • Corporate environmental risk exposure and analyst behaviours

    Gus de Franco, Yue Li and Yibin Zhou

    American Accounting Association Annual Conference


  • What Drives Corporate Charitable Contributions: Market Forces, Government Influences, or Political Goodwill?

    Junxiong Fang, Wenjing Li, and Yue Li

    AAA, CAAA annual conference


  • Corporate governance and the value relevance of proven and probable oil and gas reserve disclosures: Canadian Evidence

    Yue Li, Dan Thornton, and Michael Welker

    AAA Annual Conference


  • Does corporate governance matter? The case of corporate environmental and social responsibility committees in the board

    Kevin Lam and Yue Li

    AAA Annual Conference


Research and Teaching Interests

Teaches courses in managerial accounting, management control, accounting theory, financial statement analysis, and consolidation. Research interests include environmental accounting, corporate governance, voluntary disclosures and capital markets, Corporate Social Responsibility, and IPO valuation.

Honors and Awards

  • 2012

    Emerald Management Reviews Citations of Excellence Award ,

  • 2011

    SSHRC Standard Research Grant ($45,890), PI,

  • 2006

    Best Paper Award, ASAC Conference

  • 2006

    Best Paper Award, 2006 AFAANZ Conference

  • 2005

    SSHRC Standard Research Grant ($97,060), PI,

  • 2004

    CICA Research Grant ($10,000), co-investigator,

  • 2004

    Deloitte & Touche/CAAA Research Grant ($10,000), PI,

  • 2003

    CMA/CAAA Research Grant, $10,000, PI,

  • 2003

    CICA/CAAA Research Grant, $10,000, co-investigator,

  • 2000

    SSHRC Special-One-Time-Only Grant $8,625,

  • 1997

    CAAA Research Grant $10,000, co-investigator,

  • 1992

    Ontario Graduate Scholarship, Queen's University

  • 1991

    Queen's Graduate Fellowship, Queen's University

  • 1990

    Eaton Fellowship, Queen's University

  • 1989

    Dean's Award, Queen's University

  • 1988

    CIDA Fellowship, University of Toronto

Professional Affiliations/Memberships

  • Canadian Academic Accounting Association

  • American Accounting Association