Feng Li

Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

Professor of Accounting

211 West Huaihai Road

Shanghai, Shanghai 200030

China

  • Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

SCHOLARLY PAPERS

21

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282

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203

Scholarly Papers (21)

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1.

Annual Report Readability, Current Earnings, and Earnings Persistence

Ross School of Business Paper No. 1028
Number of pages: 67 Posted: 10 Mar 2006
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 2,666 (5,404)
Citation 164

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Disclosure, Annual report readability, Earnings Persistence

2.

Empirical Investigation of an Equity Pairs Trading Strategy

forthcoming, Management Science
Number of pages: 47 Posted: 17 Mar 2009 Last Revised: 09 Apr 2017
Huafeng (Jason) Chen, Shaojun Jenny Chen, Zhuo Chen and Feng Li
Fudan University - Fanhai International School of Finance (FISF), Connor, Clark, and Lunn Investment Management, Tsinghua University - PBC School of Finance and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 2,609 (5,580)
Citation 19

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3.

Do Stock Market Investors Understand the Risk Sentiment of Corporate Annual Reports?

Number of pages: 54 Posted: 26 Apr 2006
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 2,485 (6,062)
Citation 105

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Annual report, risk sentiment, earnings, stock returns

4.

Financial Reporting Quality and Economic Growth

Number of pages: 61 Posted: 11 Sep 2008 Last Revised: 24 Jun 2010
Feng Li and Nemit Shroff
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 1,985 (8,820)
Citation 8

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Financial reporting quality, corporate transparency, transparency, earnings quality, information uncertainty, IFRS, information asymmetry, economic growth

5.

Corporate Governance When Founders are Directors

Downloads 1,685 ( 11,513)
Citation 20

Corporate Governance When Founders are Directors

Journal of Financial Economics, Forthcoming
Number of pages: 51 Posted: 23 Aug 2010 Last Revised: 09 Jan 2011
Feng Li and Suraj Srinivasan
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and Harvard Business School
Downloads 1,282 (17,271)
Citation 3

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Founder, CEO compensation, CEO turnover, family firms, corporate governance, board of directors

Corporate Governance When Founders are Directors

Journal of Financial Economics, Vol. 102, No. 2, pp. 454-469, November 2011
Number of pages: 51 Posted: 08 Jan 2011 Last Revised: 24 Nov 2011
Feng Li and Suraj Srinivasan
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and Harvard Business School
Downloads 403 (83,084)
Citation 8

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CEO Compensation, CEO Turnover, Founder, Corporate Governance, Board of Directors

6.

Firm Specific Information and the Cost of Equity Capital

Number of pages: 34 Posted: 08 Jun 2006 Last Revised: 16 Apr 2018
Philip G. Berger, Huafeng (Jason) Chen and Feng Li
University of Chicago - Booth School of Business, Fudan University - Fanhai International School of Finance (FISF) and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 1,421 (15,061)
Citation 1

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information quality, the cost of equity capital, firm-specific information

7.

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Downloads 1,366 ( 15,660)
Citation 5

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Number of pages: 51 Posted: 21 May 2004
M.H. Franco Wong and Feng Li
University of Toronto - Rotman School of Management and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 1,366 (15,682)
Citation 5

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Employee stock options, warrant-pricing model, equity valuation

Employee Stock Options, Equity Valuation, and the Valuation of Option Grants Using a Warrant-Pricing Model

Posted: 31 Mar 2005
M.H. Franco Wong and Feng Li
University of Toronto - Rotman School of Management and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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8.

A Measure of Competition Based on 10-K Filings

Chicago Booth Research Paper No. 11-30, Journal of Accounting Research, Forthcoming
Number of pages: 55 Posted: 15 Aug 2011 Last Revised: 24 Oct 2012
Feng Li, Russell J. Lundholm and Michael Minnis
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University, University of British Columbia - Sauder School of Business and University of Chicago - Booth School of Business
Downloads 1,158 (20,526)
Citation 48

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competition, disclosure, earnings persistence, earnings mean reversion, diminishing marginal returns

9.

The Effect of Annual Report Readability on Analyst Following and the Properties of Their Earnings Forecasts

The Accounting Review, Vol. 86, No. 3, 2011
Number of pages: 48 Posted: 24 Sep 2009 Last Revised: 05 Mar 2012
Reuven Lehavy, Feng Li and Kenneth J. Merkley
University of Michigan, Stephen M. Ross School of Business, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and Indiana University - Kelley School of Business - Department of Accounting
Downloads 1,152 (20,717)
Citation 45

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analyst coverage, analyst's forecasts, disclosure, annual report readability

10.

Managers’ Self-Serving Attribution Bias and Corporate Financial Policies

Number of pages: 37 Posted: 12 Jul 2010
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 976 (26,362)
Citation 25

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Self-Serving Attribution Bias, MD&A, Textual Analysis, Investing and Financing Policies

11.

The Determinants and Information Content of the Forward-looking Statements in Corporate Filings - A Naive Bayesian Machine Learning Approach

AAA 2009 Financial Accounting and Reporting Section (FARS) Paper
Number of pages: 57 Posted: 13 Sep 2008
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 889 (30,188)
Citation 10

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MD&A, Information content, Machine learning

12.

Earnings Quality Based on Corporate Investment Decisions

Number of pages: 49 Posted: 26 Jul 2007
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 812 (34,203)
Citation 1

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corporate investment, earnings quality, earnings persistence

13.

Growth and Accounting Choice

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Growth and Accounting Choice

Number of pages: 47 Posted: 31 Aug 2006
Ilia D. Dichev and Feng Li
Emory University - Department of Accounting and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 591 (51,777)
Citation 1

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Growth, accounting choice

Growth and Accounting Choice

Australian Journal of Management, Vol. 38, No. 2, 2013
Posted: 30 Jul 2013
Ilia D. Dichev and Feng Li
Emory University - Department of Accounting and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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Accounting choice, aggressiveness, growth

14.

The Number of Estimates in Footnotes and Accruals

Number of pages: 58 Posted: 29 Feb 2016 Last Revised: 05 Oct 2020
Huafeng (Jason) Chen, Jason V. Chen and Feng Li
Fudan University - Fanhai International School of Finance (FISF), University of Illinois at Chicago and Shanghai Advanced Institute of Finance, Shanghai Jiaotong University
Downloads 415 (81,001)
Citation 4

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textual analysis; accruals quality; accruals persistence; accrual anomaly

15.

A New Chinese Financial Sentiment Dictionary for Textual Analysis in Accounting and Finance

Number of pages: 21 Posted: 07 Sep 2019
Shibo Bian, Dekui Jia, Feng Li and Zhipeng Yan
Shanghai Lixin University of Commerce - School of Accounting and Finance, Dekui Jia, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and New Jersey Institute of Technology
Downloads 272 (129,437)

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textual analysis; sentiment analysis; Chinese financial sentiment dictionary

16.

Measuring Operating Leverage

Number of pages: 82 Posted: 01 May 2018 Last Revised: 04 May 2020
Huafeng (Jason) Chen, Jason V. Chen, Feng Li and Pengfei Li
Fudan University - Fanhai International School of Finance (FISF), University of Illinois at Chicago, Shanghai Advanced Institute of Finance, Shanghai Jiaotong University and Tsinghua University - PBC School of Finance
Downloads 256 (137,819)
Citation 1

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operating leverage, fixed costs; stock returns, factor models

17.

Stock Pledged Loans, Capital Markets, and Firm Performance in China

Number of pages: 56
Feng Li, Jun "QJ" Qian, Haofei Wang and Julie Zhu
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University, Fanhai International School of Finance, Fudan University, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Fanhai International School of Finance(FISF), Fudan University
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Stock pledged loan, largest shareholder, return, momentum, related-party transactions.

18.

Knowledge, Compensation, and Firm Value: An Empirical Analysis of Firm Communication

Journal of Accounting and Economics, Volume 58, Issue 1, August 2014, Pages 96–116, Chicago Booth Research Paper No. 12-03, Rock Center for Corporate Governance at Stanford University Working Paper No. 83
Posted: 24 Nov 2014 Last Revised: 18 Sep 2015
Feng Li, Michael Minnis, Venky Nagar and Madhav V. Rajan
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University, University of Chicago - Booth School of Business, University of Michigan, Stephen M. Ross School of Business and Booth School of Business, University of Chicago

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knowledge, communication, firm value, compensation, authority, organization

19.

Textual Analysis of Corporate Disclosures: A Survey of the Literature

Journal of Accounting Literature, Forthcoming
Posted: 08 Feb 2011
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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Textual analysis, disclosure

20.

The Information Content of Forward-Looking Statements in Corporate Filings – A Naive Bayesian Machine Learning Approach

Journal of Accounting Research, Forthcoming
Posted: 13 Jun 2010
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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MD&A, Information content, Machine learning, Dictionary approach, Accrual anomaly

21.

The Implications of Annual Report's Risk Sentiment for Future Earnings and Stock Returns

Posted: 14 Mar 2006
Feng Li
Shanghai Advanced Institute of Finance, Shanghai Jiaotong University

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Annual report, risk sentiment, earnings, stock returns