Entrepreneurs and Markets

Abstract

In intelligent markets, intuition is no longer enough.

This book shows how successful entrepreneurship now depends on the integration of data analytics, strategic decision-making under uncertainty, and human resilience. Blending entrepreneurial practice with computational market analysis, this book offers a modern framework for understanding how product and capital markets behave in fast-moving, high-growth environments.

Written for founders, executives, and innovation leaders, the book demonstrates how data-driven methods can be used to anticipate market shifts, evaluate opportunities, and manage risk. At the same time, it addresses the human side of entrepreneurship: enduring intense stress, navigating failure, and persisting through career setbacks.

Bridging analytics, strategy, and psychology, Entrepreneurs and Markets transforms entrepreneurial ambition into disciplined, data-informed action. It is a practical guide for turning uncertainty into strategic advantage in the age of intelligent markets.

REVIEWS AND WORDS OF PRAISE

Kehan, our venture co-founder, has provided many unique insights based on his financial and marketing expertise. I am very pleased to see that his distinctive skillset can also guide students academically in the classroom.
--Baiyong Li, PhD, Co-founder and Chief Scientific Officer of Akeso (9926 HK)

I have known my friend Kehan for over 20 years, and during that time we have collaborated on several venturing projects. His academic work is based on real industry practice, and I strongly encourage my team members to read this book.
--Bo Tan, MBA & MA-Economics , CEO & Co-CIO, Summit Healthcare Acquisition Corp.

Kehan and I have been conducting original empirical research on topics of brand asset transaction, short-selling, and financial impact of global marketing strategies. Kehan aims to bridge empirical research and industry practice. He has a unique way of integrating marketing strategy, finance, and management literatures. I strongly recommend this book to my students.
--Summer Zixia Cao, PhD, Discipline Director of Marketing & Associate Professor, University of Colorado Denver

Working with Kehan on innovative research in management and entrepreneurship has been truly inspiring. His work seamlessly connects academic research with real-world application, providing deep insights and actionable guidance for future business leaders. I will strongly recommend this textbook to my students.
--Mile Yang, PhD, Research Director, School of Management, Macquarie University Deputy Editor, Australian Management Journal

With his industry experience and academic insights, Dr. Xu inspires junior faculty members as well as students. This textbook is actionable and interdisciplinary.
--Qiyuan Wang, PhD, Assistant Professor, Faculty of Business, Hong Kong PolyU

About the Author

Kehan Xu is a cross-asset/multi-strategy investor. Kehan received his PhD in strategy from Mays Business School at Texas A&M University and his MBA in investments from the University of Miami. He has published articles in leading academic journals, such as Journal of the Academy of Marketing Science, Journal of Small Business Management, Journal of Management Accounting Research, Journal of Management, and Academy of Management Perspectives. Moreover, he has presented his empirical findings at American Marketing Association annual conferences (2019—2025). Dr. Xu has also co-founded a biopharma venture (2016-2024) and designed/licensed quantitative long/short global equity trading strategies for a major family office (2020-2023).

Fei Du is an associate professor of accountancy at Gies College of Business and serves as the associate academic director of the Center for Professional Responsibility in Business and Society. Fei’s research focuses on Management Control System Design and managerial decision-making. She recently cowrote a book titled Creative Data Analytics: Computational Recipes to Gain Insights into Businesses, published by Wolfram Media in June 2023. In 2024, she was honored with the Wolfram Innovator Award for her innovative contributions in both her book and her teaching on business data analytics.