• LI, Feng

    Deputy Dean, Chair Professor of Accounting, Executive Director of CAFR, Co-Director of SAIFR

  • Email:

    fli@saif.sjtu.edu.cn

  • 　　

    　　

  • Support Staff:

    Lillian Jin

  • Support Staff Email:

    cyjin@saif.sjtu.edu.cn

  • Research Interests

    Financial Statement Analysis, Big Data & Text Mining, Asset Pricing & Risk Management.

Dr. Feng Li is a Chair Professor of Accounting and the Deputy Dean at Shanghai Advanced Institute of Finance (SAIF) at Shanghai Jiao Tong University. He also serves as the Executive Director of CAFR, and the Co-Director of SAIFR. Prior to joining SAIF, Professor Li was the Harry Jones Associate Professor of Accounting with tenure at the Stephen M. Ross School of Business, University of Michigan. At SAIF, he has held leadership roles, including Deputy Dean for Non-Executive Programs (2016-2018) and Director of the Finance MBA Program (2015-2018).

Professor Li's research interests primarily focus on financial statement analysis, the application of deep learning in financial analysis, asset pricing, and risk management. He has published over 20 articles in leading academic journals, such as the Journal of Accounting Research, Journal of Accounting and Economics, The Accounting Review, Management Science, and Journal of Financial Economics.

Professor Li has received prestigious awards and recognition for his research contributions, including:

• American Accounting Association Distinguished Contributions to Accounting Literature Award (2018), presented annually to recognize uniqueness and magnitude of contribution to accounting research.
• Shanghai Jiao Tong University Excellent Educator Award (2020)
• Selection as one of "China's Most Cited Scholars" by Elsevier (2022-2024)

At SAIF, Professor Li teaches courses such as "Principles of Accounting”, “Financial Reporting and Analysis", "Essentials of Accounting for Decision Makers", and "Financial Innovation". He has been recognized for his teaching excellence, receiving the SAIF Teaching Award in 2018 and 2022.


Journal Publications

1. 方雨桥, 郑行健, 李峰, 2026, 图以类聚：卷积神经网络、投资者异质性与中国股市预测性, 管理科学学报.

2. 孙一新, 贾德铮, 李峰, 2025, 发展新质生产力要求下支持科技创新的所得税政策优化, 税务研究.

3. Chen, Huafeng, Jason Victor Chen, and Feng Li, 2024, The Number of Estimates in Footnotes and Accruals, Management Science.

4. 李峰, 吴婷, 2023, 本轮欧美通胀的起源、治理与启示, 新金融.

5. Li, Feng, Jun Qian, Haofei Wang, and Julie Lei Zhu, 2023, Stock pledged loans and market crash risk: Evidence from China, Journal of Finance and Data Science.

6. Chang, Danting, and Feng Li, 2023, Uncovering the information content in abnormal institutional visits, Finance Research Letters.

7. 李峰, 2022, 社会责任投资的上海实践, 中国金融.

8. Chen, Huafeng Jason, Jason V. Chen, Feng Li, and Pengfei Li, 2022, Measuring Operating Leverage, Review of Asset Pricing Studies.

9. 李峰, 吴婷, 2022, 数据资产开放模式比较研究, 新金融.

10. 李峰, 2022, 从康美药业案看中国上市公司治理改革, 中国改革.

11. 李峰, 2021, 浦东发展离岸市场具有一定优势, 上海国资.

12. 常丹婷, 李峰, 2020, 价值因子背后的逻辑——估值-基本面预期差与错误定价, 投资研究.

13. Chen, Huafeng Jason, Shaojun Jenny Chen, Zhuo Chen, and Feng Li, 2019, Empirical investigation of an equity pairs trading strategy, Management Science.

14. Chen, Jason V., and Feng Li, 2015, Discussion of "Textual analysis and international financial reporting: Large sample evidence", Journal of Accounting and Economics.

15. Li, Feng, Michael Minnis, Venky Nagar, and Madhav Rajan, 2014, Knowledge, compensation, and firm value: An empirical analysis of firm communication, Journal of Accounting and Economics.

16. Dichev, Ilia D., and Feng Li, 2013, Growth and accounting choice, Australian Journal of Management.

17. Li, Feng, and Venky Nagar, 2013, Diversity and performance, Management Science.

18. Li, Feng, Russell Lundholm, and Michael Minnis, 2013, A Measure of Competition Based on 10‐K Filings, Journal of Accounting Research.

19. Li, Feng, 2012, Discussion of Analyzing Speech to Detect Financial Misreporting, Journal of Accounting Research.

20. Lehavy, Reuven, Feng Li, and Kenneth Merkley, 2011, The effect of annual report readability on analyst following and the properties of their earnings forecasts, The Accounting Review.

21. Li, Feng, 2011, Earnings Quality Based on Corporate Investment Decisions, Journal of Accounting Research.

22. Li, Feng, and Suraj Srinivasan, 2011, Corporate governance when founders are directors, Journal of Financial Economics.

23. Li, Feng, 2010, The information content of forward- looking statements in corporate filings-A naïve bayesian machine learning approach, Journal of Accounting Research.

24. Li, Feng, 2010, Textual Analysis of Corporate Disclosures: A Survey of the Literature, Journal of Accounting Literature.

25. Li, Feng, 2008, Annual report readability, current earnings, and earnings persistence, Journal of Accounting and Economics.

26. Li, Feng, and M. H.Franco Wong, 2005, Employee stock options, equity valuation, and the valuation of option grants using a warrant-pricing model, Journal of Accounting Research.

Working Papers

1. Shibo Bian, Dekui Jia, Feng Li, Zhipeng Yan, and Frank F. Yu, 2025, The Information Discovery Role of Retail Investors: Evidence from Mandatory Online Conference Calls in China.

2. Chen, Huafeng, Jason V. Chen, and Feng Li, 2021, The number of estimates in footnotes and accruals.

3. Li, Feng, Jun QJ Qian, Haofei Wang, and Julie Zhu, 2020, Stock Pledged Loans, Capital Markets, and Firm Performance: the Good, the Bad and the Ugly.

4. Kothari, S.P., Feng Li, and Xu Li, 2020, Monitoring Role of the Press – Evidence from Press Coverage of Chinese Firms Listed in the U.S..

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