Feng Gu

Chair, Professor
Accounting and Law


PhD, Washington University
MA, Washington University
BA, Beijing University, China


  • Financial Analysis and Reporting
  • Management Accounting
  • Advanced Topics in Management Accounting and Control


Gu's research interests include measurement and valuation of intellectual capital (intangible assets), corporate management and reporting of investments in intangibles, and firms' voluntary disclosure of financial and non-financial information. He has published work on these topics in referred academic journals. His recent research results on the usefulness of knowledge-based measures were quoted in Fortune (April 16, 2001), Business Week (June 18, 2001; December/January, 2005/2006), and Harvard Business Review (June, 2004).

Awards and Recognition

  • Best Paper Award at the 2005 JAAF/KPMG Foundation Conference
  • Beta Gamma Sigma

Selected Publications

Click links below for PDF documents.

“Time to Change Your Investment Model” with B. Lev, Financial Analysts Journal, 2017, forthcoming

The End of Accounting and the Path Forward for Investors and Managers, with B. Lev, Wiley | Wiley Finance Series (ISBN 978-1-119-19109-4) (translated into Spanish, Chinese, Japanese, and Korean), 2016

“Accounting is Failing Investors” with B. Lev, The Wall Street Journal, June 20 (C1), 2016

“Innovation in Information Systems and Valuation of Intangibles” with J. Li, Intangibles, Market Failure, and Innovative Growth (Springer): 291– 306, 2015

“Insider Trading and Corporate Information Transparency” with J. Li, The Financial Review, 2012 (Vol. 47, No. 4, November): 645–664

“Intangible Assets: Measurement, Drivers, and Usefulness” with B. Lev, in Managing Knowledge Assets and Business Value Creation in Organizations: Measures and Dynamics, IGI Global, USA & UK, 2011

“Overpriced Shares, Ill-Advised Acquisitions, and Goodwill Impairment” with B. Lev, The Accounting Review, 2011 (Vol. 88, No. 6, November): 1995–2022

“The Value-relevance of Advertising: Evidence from Pharmaceutical Industry” with J. Li, Journal of Accounting, Auditing, and Finance, 2010 (Vol. 24, No. 1): 85–120

“Matching Words with Action: The Effect of Management Stock Trading Decision on Investors’ Judgment of Disclosure Credibility” with J. Li, Investor Relations Update, 2008 (December): 8–10

"The Credibility of Voluntary Disclosure and Insider Stock Transactions" with J. Li, Journal of Accounting Research (Vol. 45, No. 4, 2007): 771-81

"Innovation, Future Earnings, and Market Efficiency" Journal of Accounting, Auditing, and Finance (Vol. 20, No. 4, 2005): 385-418

"Intangible Assets, Information Complexity, and Analysts? Earnings Forecasts" with W. Wang, Journal of Business Finance and Accounting (Vol. 32, No. 9 and 10, 2005): 1673-1702

"The Information Content of Royalty Income" with B. Lev, Accounting Horizons (Vol. 18, No. 1, 2004): 1-12

"Disclosure of Innovation Activities by High-Technology Firms" with J. Li, Asia-Pacific Journal of Accounting and Economics (Vol. 10, No. 2, 2003): 143-172