• LI, Feng

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

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    Lillian Jin

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  • Research Interests

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

Dr. Feng Li is a 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, big data and text mining, 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:

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. Huafeng Chen, jason V. Chen, and Feng Li, 2024, The Number of Estimates in Footnotes and Accruals, Management Science.

2. Danting Chang, Feng Li, 2023, Uncovering the Information Content in Abnormal Institutional Visits, Finance Research Letters.

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

4. Chen, Huafeng (Jason), Shaojun (Jenny) Chen, Zhuo Chen, and Feng Li, 2019, Empirical Investigation of an Equity Pairs Trading Strategy, Management Science.

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

6. Li, Feng, Michael Minnis, Venky Nagar, and Madhav Rajan, 2014, Knowledge, Compensation, and Firm Value: An Empirical Analysis of Firm Communication, Journal of Accounting & Economics.

7. Li, Feng, and Venky Nagar, 2013, Diversity and Performance, Management Science.

8. Li, Feng, Russell Lundholm, and Michaael Minnis, 2013, A measure of competition based on 10-K filings, Journal of Accounting Research.

9. Dichev, Ilia D., and Feng Li, 2013, Growth and Accounting Choice, Australian Journal of Management.

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

11. 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.

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

13. Li, Feng, and Suraj Srinivasan, 2011, Corporate Governance when Founders are Directors, Journal of Financial Economics.

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

15. Li, Feng, 2010, The Information Content of Forward-Looking Statements in Corporate Filings-A Naïve Bayesian Machine Learning Approach: the information content of corporate filings, Journal of Accounting Research.

16. Li, Feng, 2008, Annual Report Readability, Current Earnings, and Earnings Persistence, Journal of Accounting & Economics.

17. Wong, Franco M.H., and Feng Li, 2005, Employee Stock Options and Equity Valuation, Journal of Accounting Research.

Working Papers

1. Bian, Shibo, Feng Li, and Zhipeng Yan, 2023, Do Small Investors Matter?.

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..