“As a co-founder of our entrepreneurial venture, Kehan has provided numerous insightful perspectives with his expertise in finance and marketing. I am delighted to see that his distinctive professional skills are now being brought into the classroom, offering students academic guidance.”
— Dr. Li Baiyong, Co-Founder and Chief Scientific Officer of CanFang Bio (9926.HK)

“I have known my friend Kehan for over 20 years, during which time we have collaborated on several entrepreneurial projects. His academic research is deeply rooted in real-world industry practice, and I highly recommend this book to members of my team.”
— Tan Bo (MBA & MA in Economics), CEO and Co-Chief Investment Officer of Summit Healthcare Acquisition Corp.

“Kehan and I have long conducted original empirical research on topics such as brand asset transactions, short-selling mechanisms, and the financial implications of global marketing strategies. Kehan aims to bridge the gap between empirical research and industry practice, employing a unique approach to integrating marketing strategy with finance and management literature. I strongly recommend this book to my students.”
— Dr. Cao Zixia, Head of the Marketing Department and Associate Professor at the University of Colorado Denver

“Collaborating with Kehan on innovative research in management and entrepreneurship has been truly inspiring. His work seamlessly combines academic inquiry with real-world applications, providing future business leaders with profound insights and highly actionable guidance. I will enthusiastically recommend this textbook to my students.”
— Dr. Yang (Miles Yang), Director of Research at Macquarie Business School and Deputy Editor of the Australian Journal of Management

“With his extensive industry experience and deep scholarly insight, Dr. Xu not only inspires students but also serves as a source of inspiration for young faculty. This is an outstanding textbook that combines practicality with interdisciplinary breadth.”
— Dr. Wang Qiyuan, Assistant Professor, School of Business, Hong Kong Polytechnic University

★ Kehan Xu , a cross-asset investor, entrepreneur, and Ph.D. in Strategy from Texas A&M University, has co-authored a book with Du Fei, Associate Professor of Accounting at the USC Marshall School of Business and holder of a Ph.D. in Accounting from the University of Southern California!
★ The book has received endorsements from Dr. Li Baiyong, Co-founder and Chief Scientific Officer of Kangfang Bio, as well as numerous business school professors and other entrepreneurial leaders.
★ This groundbreaking work introduces an original market-calculus framework that transforms uncertainty into a strategic advantage. By transcending the traditional boundaries of business education, it seamlessly integrates entrepreneurship, data analytics, strategic resilience, and psychology, offering a practical, modern decision-making system that enables founders and executives to accurately anticipate change, evaluate opportunities, and manage risks in the era of intelligent markets.

In the intelligent marketplace, intuition alone is no longer sufficient.
This book reveals that successful entrepreneurship today relies on the integration of data analytics, strategic decision-making under uncertainty, and human resilience. By combining entrepreneurial practice with computational market analysis, it offers a modern framework for understanding how product markets and capital markets operate in fast-paced, high-growth environments.
Aimed at founders, executives, and innovation leaders, this book demonstrates how to use data-driven approaches to anticipate market shifts, evaluate opportunities, and manage risks. At the same time, it also addresses the human dimension of entrepreneurship: enduring intense pressure, coping with failure, and persevering through professional setbacks.
By blending analysis, strategy, and psychology, this book transforms entrepreneurial ambition into disciplined, data‑based action. It is a practical guide that shows you how to turn uncertainty into a strategic advantage in the age of the intelligent marketplace.

Xu Kehan (transliteration)
Xu Kehan is a cross-asset/multi-strategy investor. He holds a Ph.D. in Strategy from the Mays Business School at Texas A&M University and an MBA from the University of Miami. He has published articles in leading academic journals, including Marketing Science, Journal of Small Business Management, Journal of Management Accounting Research, Academy of Management Journal, and Academy of Management Perspectives. Additionally, he has presented his empirical research at the American Marketing Association’s annual conferences from 2019 to 2025. Dr. Xu also co-founded a biopharmaceutical company (2016–2024) and designed/implemented quantitative long-short global equity trading strategies for a large family office (2020–2023).

Du Fei (transliteration)
Du Fei is an Associate Professor of Accounting at Gies College of Business and serves as the Associate Academic Director of the Center for Professional Responsibility in Business and Society. Her research focuses on the design of management control systems and managerial decision-making.
Her work has been published in top-tier academic journals, including The Accounting Review, Accounting and Business Research, Contemporary Accounting Research, Academy of Management Journal, and Journal of Management Accounting Research. She co-authored a book titled “Creative Data Analysis: Computational Approaches to Insights in Business,” which was published in June 2023.
In 2016, she received the Outstanding Contribution to Management Accounting Literature Award from the American Accounting Association, and in 2018, she was awarded the Impact on Management Accounting Practice Award by the same organization. In 2024, she was honored with the Wolfram Innovator Award for her innovative contributions to teaching and research in the field of business data analytics. She holds a Ph.D. in Accounting from the University of Southern California and currently serves as:
a member of the Editorial Board of Management Accounting Research since 2023;
a member of the Editorial Board of The Accounting Review since 2023;
a member of the Editorial Board of the Journal of Management Accounting Research since 2019;
and a member of the Editorial Board of Contemporary Accounting Research from 2023 to 2025.