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e-bulletin October 2017

Eight Graduates were Named Outstanding Alumni of the Faculty

The Faculty presented its inaugural Outstanding Alumni Award and Outstanding Young Alumni Award during the homecoming dinner on 7 October 2017.

At the awards presentation
At the awards presentation

The newly launched triennial alumni awards recognize the efforts and achievements of graduates as well as their contribution to PolyU and the wider community. This year, eight graduates of the Faculty and its predecessors won the awards.

Recipient Award Programme Year of graduation
Miss Winnie Chiu Wai Yin Outstanding Alumni Award Master of Business Administration 1994
Dr Stella Kwan Mun Yee Doctor of Business Administration 2000
Mr Leo Lee Chi Ming Higher Diploma in Accountancy 1976
Dr Miranda Lou Lai Wah Doctor of Business Administration 2009
Mr Wang Chunlin MSc in International Shipping and Transport Logistics 2003
Miss Annie Au Wing Chi Outstanding Young Alumni Award BBA (Hons) major in Management 2014
Mr Kino Law BBA (Hons) major in Marketing 2010
Mr Henry Ngai Wai Tung BA (Hons) in Accountancy 2002

Staff Members Received Faculty Awards and Fellowship

The Faculty Awards and Prizes recognize individuals and teams for extraordinary performance and achievements in specific areas. For the year 2016-17, the Faculty presented two Faculty Awards and five Faculty Prizes to staff members in the School of Accounting and Finance (AF), the Department of Logistics and Maritime Studies (LMS), and the Department of Management and Marketing (MM).

At the awards presentation
At the awards presentation

Award Winner
Faculty Award for Teaching Dr KP Yuen (AF)
Faculty Award for Research and Scholarly Activities Dr Chen Yangyang (AF)
Faculty Prize for Teaching Dr Achim Czerny (LMS)
Dr Zhou Xu (LMS)
Dr Vivian Guo (MM)
Faculty Prize for Research and Scholarly Activities Professor John Wei (AF)
Faculty Prize for Services (Team) Dr Derek Yim (AF) (Team leader)
Dr Anson Wong (AF)

The Faculty Fellow Awards encourage contribution to the Faculty and the University in research, reputation and other aspects. The title was recently bestowed on four Faculty members based on their contribution in the past five years.

Title Awardee
Faculty Fellow Professor Li Jiang (LMS)
Dr Chen Yangyang (AF)
Dr T.L. Yip (LMS)
Dr Lu Haitian (AF)

The awards were presented on 18 October 2017.

Professor Justin Yifu Lin Delivered Global Leader Lecture

Professor Justin Yifu Lin
Professor Justin Yifu Lin

To celebrate its 80th anniversary, PolyU puts on a series of Global Leader Lectures where influential leaders from around the world speak on a range of topics covering business, healthcare, innovation, entrepreneurship, art and culture, sports, and sustainable urban development.

The lecture, organized by the Faculty, on 16 October 2017 was entitled "The Rise of China and Its Implications for Economics and for the World" and delivered by Professor Justin Yifu Lin, Director of the Center for New Structural Economics at Peking University and former Chief Economist of The World Bank. Professor Lin discoursed on how China achieved extraordinary performance during its transition, the price of its success, sustainability of its dynamic growth, and implications of its experience for the world.


AF Public Lecture Looked at the Relationship between COO Employment and Real Earnings Management

Professor Linda Ann Myers
Professor Linda Ann Myers

Chief Operating Officers (COOs) are responsible for internal operations and the use of real earnings management (REM) can have negative consequences on long-term operating performance. The School of Accounting and Finance (AF) organized on 9 October 2017 a public lecture to look at The Effect of Chief Operating Officers on Real Earnings Management. Giving the lecture was Professor Linda Ann Myers from The University of Tennessee, Knoxville.

Professor Myers and her research team show that the level of REM is lower for firms employing COOs than for other firms. They also find that heir apparent COO firms engage in more REM than both dedicated (non-heir apparent) COO firms and firms without COOs. Overall, their results suggest that the presence of a COO restricts the use of REM on average, and that this effect is driven by dedicated COOs who are less likely to ascend to the Chief Executive Officer (CEO) role in the near term.


Faculty Graduated 30 Doctors of Business Administration and Doctors of Management

At the graduation reception
At the graduation reception

The 2017 professional doctoral class consists of 30 students, with 16 of them belonging to the DBA (Doctor of Business Administration) class in Hong Kong and 14 to the DMgt (Doctor of Management) class in mainland China. The Faculty hosted on 20 October a reception to celebrate their graduation.

This year two graduates received the Best Thesis Award. They were Dr Alvin Lai Pok Lai (DBA) and Dr Chen Fu (DMgt).

In 1996, PolyU launched its DBA programme, the first professional and academic business doctorate in Hong Kong offered by a local institution. In 2004, this programme was extended to the Chinese mainland where it has been named DMgt and co-offered with the Renmin University of China.


Alumni Gathered for First Faculty Reunion

At C Y Tung International Centre for Maritime Studies
At C Y Tung International Centre for Maritime Studies

Over 250 graduates of the Faculty and its predecessors attended the first reunion organized by the Faculty on 7 October 2017 to coincide with the 80th anniversary of PolyU. Homecoming 2017 consisted of a campus tour, a tea gathering and a gala dinner during which inaugural Outstanding Alumni Awards of the Faculty were presented.



Dr Dichu Bao
Dr Dichu Bao

Can Shareholders Be at Rest After Adopting Clawback Provisions? Evidence from Stock Price Crash Risk
Contemporary Accounting Research, forthcoming
Dichu Bao, The Hong Kong Polytechnic University
Simon Yu Kit Fung, Deakin University
Lixin (Nancy) Su, Lingnan University

Using a propensity-score matched sample and a difference-in-differences research design, the authors find that stock price crash risk increases after a firm voluntarily incorporates clawback provisions in executive officers' compensation contracts. This heightened crash risk is concentrated in adopters that increase upward real activities-based earnings management and those that reduce the readability of 10-K reports. Based on cross-sectional analyses, the authors also find that the increased crash risk is more pronounced for adopters with high ex-ante fraud risk, low-ability managers, high CEO equity incentives, and low dedicated institutional ownership. Collectively, their results suggest that the clawback adoption per se does not curb managerial opportunism but rather induces managers to use alternative channels for concealing bad news, which may contribute to a greater stock price crash risk; and the increase in crash risk is more likely in cases where incentives are strong or monitoring is weak. Their results should be of interest to regulators and policymakers considering the effects of clawback adoption on the investing public.