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e-bulletin June 2018

Accounting and Finance Team is Runner-up in CFA Institute Research Challenge Hong Kong Final

(From left) Minjie Jiang, Jiadai Pang, Yao Wu, and Xi Yue
(From left) Minjie Jiang, Jiadai Pang, Yao Wu, and Xi Yue

A team of four students from the School of Accounting and Finance entered CFA Institute Research Challenge 2017-2018 and came second in the local competition. They were Mr Minjie Jiang (Accountancy), Miss Jiadai Pang (Financial services), Mr Yao Wu (Accountancy), and Miss Xi Yue (Accounting and Finance), all studying for the BBA (Hons) degree.

CFA stands for Chartered Financial Analyst. CFA Institute Research Challenge is an annual competition aimed at promoting best practices in equity research among the next generation of analysts by providing participants with mentoring and training. Each university-sponsored team researches a designated publicly traded company and prepares a written report on the company. The competition, open to undergraduate and postgraduate students, consists of three levels, local, regional, and global. During the Hong Kong final on 17 March 2018, each of the five teams with the highest scores in written reports presented its research findings and recommendations to the judging panel.

 

Mr Li Xiyuan Awarded Human Capital Management Society Scholarship

Li Xiyuan (right)
Li Xiyuan (right)

Mr Sunny Li Xiyuan, reading for the BBA (Hons) degree in Management, was second runner-up in the 2017-2018 competition for Human Capital Management Society scholarship. Nominated by the Faculty's Department of Management and Marketing to compete with entrants from other local institutions, he wrote an essay on "How HR enables an organization to adapt in an era of disruption" for the first round of assessment and made an oral presentation during the final on 21 April 2018.

Human Capital Management Society, established under The Hong Kong Management Association, promotes good practices and fair employment relations in addition to nurturing professionals in human capital management.

 

Accounting and Finance Undergraduates Receive Certificate of Merit in Business Case Competition

Two teams of students in the School of Accounting and Finance joined Cross-Straits, Hong Kong and Macao Accounting and Business Case Competition 2018 and were presented with the certificate of merit during the final held in Hong Kong on 9 June. All of them were year two or year three students studying for the BBA (Hons) degree. One team was made up of Miss Wang Shuhan, Miss Chen Shuyu, Miss Gu Yinglin, and Miss Cui Xinyue. The other team comprised Miss Chau Tsz Wai, Miss Yung Hoi Sze, Miss Au Ka Wing, Miss Cheung Kam Shan, and Miss Tse Ki Ki.

(Front row from left) Wang Shuhan, Chen Shuyu, Gu Yinglin, Cui Xinyue (Back row from left) Chau Tsz Wai, Yung Hoi Sze, Au Ka Wing, Cheung Kam Shan, Tse Ki Ki
(Front row from left) Wang Shuhan, Chen Shuyu, Gu Yinglin, Cui Xinyue
(Back row from left) Chau Tsz Wai, Yung Hoi Sze, Au Ka Wing, Cheung Kam Shan, Tse Ki Ki

The competition, organized by China Commercial Accounting Institute (CCAI) and the China Chamber of International Commerce (CCOIC) Commercial Chamber of Commerce, was open to students in accounting, finance and related majors.

 

Accounting and Finance Team is Third Runner-up in TIHK Tax Debate Competition

(From left) Choi Chun Ming, Lee Cheung Hing, Au Ling Kei
(From left) Choi Chun Ming, Lee Cheung Hing, Au Ling Kei

Four students in the School of Accounting and Finance teamed up to enter TIHK Tax Debate Competition 2018 and got the third runner-up prize in the final. They were BBA (Hons) students Mr Choi Chun Ming (Accounting and Finance), Mr Lee Cheung Hing (Accountancy), Mr Au Ling Kei (Accounting and Finance), and Mr Chan Tsz Chiu (Accountancy).

This annual competition, hosted by The Taxation Institute of Hong Kong (TIHK), is open to undergraduates in accounting and finance or business programmes with taxation as a core course. It promotes the tax profession and encourages students to express their views on tax topics. This year's final was held in late May 2018.

 

Mr Choi Chun Ming Wins Best Local Community Service Award in AIA Foundation Young Leaders Development Programme

Mr Ken Choi Chun Ming, in the School of Accounting and Finance, was the winner of the Best Local Community Service Award in the 20th Young Leaders Development Programme hosted by AIA Foundation in 2017-2018.

Choi Chun Ming (first from left in back row)
Choi Chun Ming (first from left in back row)

The six-month programme, with training for 14 outstanding students from local universities this year, was aimed at helping them to develop leadership and a sense of social responsibility. It included guest talk, career workshop, adventure and leadership camp as well as voluntary service for the elderly and children with special needs.

 

Dr Wing Lam Wins Best Paper Award at ISERD−International Conference on Economics, Management, and Social Study

Dr Wing Lam (left)
Dr Wing Lam (left)

Dr Wing Lam, of the Department of Management and Marketing, was presented with the Best Paper Award at the 2018 ISERD–International Conference on Economics, Management, and Social Study. The co-author of her paper, entitled "A Dual Process Model of Taking Charge", is Dr Kan Ouyang at the Shanghai University of Finance and Economics.

ISERD is short for the International Society for Engineering Research and Development. The conference was held on 4 to 5 May 2018 in Kraków, Poland.

 

Nine Undergraduates Recognized at Annual Sport Prizes Presentations

For the academic year 2017-2018, four student-athletes from the Faculty's undergraduate programmes were named Most Valuable Players of The University Sports Federation of Hong Kong, China (USFHK) and five were named Most Valuable Players of PolyU teams. They were students of the BBA (Hons) degree in the School of Accounting and Finance (AF), the Department of Logistics and Maritime Studies (LMS), and the Department of Management and Marketing (MM).

Most Valuable Player of USFHK

Student School / Department Sport
Mr Vincent Chau Kwan Lam LMS Tennis (M)
Miss Li Tsz Kwan LMS Basketball (W)
Miss Ng Wing Kei AF Table Tennis (W)
Mr Tsai Choi Kwan LMS Basketball (M)

(From left) Chau Kwan Lam, Li Tsz Kwan, Ng Wing Kei, Tsai Choi Kwan
(From left) Chau Kwan Lam, Li Tsz Kwan, Ng Wing Kei, Tsai Choi Kwan

Most Valuable Player of PolyU Team

Student School / Department Sport
Miss Cheung Wa Sin MM Basketball (W)
Mr Lam Wing Lun MM Tennis (M)
Mr Law Shiu Chung AF Fencing (M)
Mr Li Ka Chun AF Karatedo (M)
Mr Wong Kin Sing AF Table Tennis (M)

(From left) Cheung Wa Sin, Lam Wing Lun, Law Shiu Chung, Li Ka Chun, Wong Kin Sing(From left) Cheung Wa Sin, Lam Wing Lun, Law Shiu Chung, Li Ka Chun, Wong Kin Sing

The nine winners received the awards during the annual sport prizes presentation of USFHK on 22 April 2018 and the annual sport prizes presentation of PolyU on 24 April 2018.

 

Don X CEO Luncheon Focuses on State Capitalism

Dr Haitian Lu addressing the luncheon
Dr Haitian Lu addressing the luncheon

Don X CEO luncheons provide a platform for Faculty members to share their research findings and exchange views and ideas with industry. The latest luncheon took place on 9 May 2018 during which Dr Haitian Lu, from the School of Accounting and Finance, gave a presentation on State Capitalism vs. Private Enterprise.

Using data on internal capital transfers of 211 state business groups and 76 private business groups during the period 2004 to 2013, Dr Lu and his team study the capital efficiency at state-controlled and privately owned business groups in China and find stark differences in the way they allocate capital. While private groups allocate more capital to units with better investment opportunities, state managers are incentivized to work towards potentially conflicting goals. State business groups pursue both social objectives, such as avoiding job losses, and political objectives, such as promotion of bureaucrat-managers, but the interests of the Chinese Communist Party and of state managers may be misaligned.

 

Faculty Workshop Covers Six Cultural Dimensions

Dr Elizabeth A. Tuleja
Dr Elizabeth A. Tuleja

The Faculty organized a workshop for students and alumni of PolyU on 17 May 2018. It was entitled "Mastering the Six Cultural Dimensions for Success" and run by Fulbright Scholar Dr Elizabeth A. Tuleja from the University of Notre Dame.

During the workshop, participants played a simulation game to get insights about working with diverse groups. Dr Tuleja elaborated on social psychologist Professor Geert Hofstede's six cultural dimensions, the scores of China and the US, as well as examples among Easterners and Westerners. She also explained about cultural paradox and led a discussion on cultural dimensions and paradoxes with reference to the Chinese and other societies. Instead of expecting others to play by our rules, Dr Tuleja concluded that understanding the cultural dimensions could help us develop strategies for communicating across differences and cooperate with people from other cultural groups.

 

MM Public Lecture Looks at Social Rejection

Professor C. Nathan DeWall
Professor C. Nathan DeWall

The Department of Management and Marketing (MM) organized on 23 May 2018 a public lecture to explore social rejection. The lecture, entitled "The Pain of Rejection: Breaking and Restoring Social Bonds", was addressed by Professor C. Nathan DeWall from the University of Kentucky.

Professor DeWall presented a programme of research on the power of social rejection in shaping cognition, emotion, and behaviour. He demonstrated how social rejection could influence a variety of inner responses, including self-regulation. He expatiated on responses to social rejection sharing common overlap with physical pain processes as well as people coping with social rejection. His conclusion highlighted social exclusion affecting cognition, emotion and behaviour within consumer and organizational contexts.

 

DMgt Alumni Circle Inauguration Marks 15th Anniversary of RUC-PolyU Collaboration

The Doctor of Management (DMgt) programme, offered on the Chinese mainland, originates from PolyU DBA. This collaboration between the School of Business of the Renmin University of China (RUC) and the Faculty is the only State-approved and Ministry of Education- recognized joint programme of its kind.

At the celebratory dinnerAt the celebratory dinner

On 5 May 2018, PolyU and RUC management and academics, DMgt students and graduates attended a celebratory dinner in Beijing which marked the 15th anniversary of RUC-PolyU collaboration and inauguration of the DMgt Alumni Circle.

 

Academic Promotions Effective 1 July 2018

School / Department Staff New rank
School of Accounting and Finance Dr Haitian Lu Professor
Department of Logistics and Maritime Studies Dr Peter Lee Associate Professor
Department of Management and Marketing Dr Bonnie Cheng Associate Professor
Dr Yuwei Jiang Professor

 

RESEARCH INSIGHTS

Dr Nan Yang
Dr Nan Yang

Managerial Myopia and the Mortgage Meltdown
Journal of Financial Economics, 128 (3), 466–485 (2018)
Adam C. Kolasinski, Texas A&M University
Nan Yang, The Hong Kong Polytechnic University

Regulators and policy makers, including the U.S. government's Financial Crisis Inquiry Commission, have frequently asserted that managerial short-termism was at the root of the subprime mortgage crisis of 2007-2009. Scholarly work investigating the matter, however, has largely failed to find evidence of this assertion. In contrast, the authors of this paper find that financial firms whose CEOs had shorter equity award vesting schedules, as measured pre-crisis, were more exposed to subprime residential mortgages during the crisis than were financial firms whose CEOs had longer vesting schedules. Further, shorter vesting schedules are associated with poorer stock returns and higher probability of insolvency during the crisis. Finally, they find that shorter vesting schedules are associated with larger fines and settlements in lawsuits and enforcement actions related to subprime mortgage fraud or misrepresentation. The authors conclude that CEO short-termism played a role in the crisis.

 

Dr Yuwei Jiang
Dr Yuwei Jiang

The Impact of Death-Related Media Information on Consumer Value Orientation and Scope Sensitivity
Journal of Marketing Research, 55 (3), 432-445 (2018)
Zhongqiang (Tak) Huang, The University of Hong Kong
Xun (Irene) Huang, Nanyang Technological University
Yuwei Jiang, The Hong Kong Polytechnic University

Death-related information often co-exists with marketing stimuli in the same media context, but there is very little research investigating how consumers' responses to marketing stimuli may be affected by death-related media information. In this research, the authors asked consumers to view death-related news and ads as stimuli, and tested whether such exposure to death-related media information would influence their sensitivity to the scope or magnitude of marketing information (e.g., price, discounts) in a subsequent, unrelated context. This research shows that after incidental exposure to death-related media information, consumers tend to momentarily focus more on intrinsic versus extrinsic personal values. Consequently, they pay less attention to, and become less sensitive to the scope of, the marketing stimuli (which are generally associated with extrinsic values). This research suggests that, in a media environment that is rich in death-related information, it may not be wise to broadcast or place ads to inform consumers of changes in marketing offers, because such consumers will be less likely to sense the difference. Of course, there may be situations in which marketers can benefit from decreased sensitivity to changes in marketing stimuli. For example, marketers may make consumers less sensitive to price differences to increase their likelihood of choosing a higher-priced product by advertising it in a media context containing death-related information.