A transparent conductive electrode stack containing a work function adjusted carbon-containing material is provided. Specifically, the transparent conductive electrode stack includes a layer of a carbon-containing material and a layer of a work function modifying material. The presence of the work function modifying material in the transparent conductive electrode stack shifts the work function of the layer of carbon-containing material to a higher value for better hole injection into the OLED device as compared to a transparent conductive electrode that includes only a layer of carbon-containing material and no work function modifying material.