Network and Learn: CUHK Business School Alumni and Friends Meetup in Singapore

Understanding China’s Business Institutions and Government

Join us for an evening of learning in Singapore on two pieces of abridged research conducted by The Chinese University of Hong Kong (CUHK) Business School faculty, followed by a networking session over light refreshments with fellow alumni and new friends. From leveraging relational ties to amassing political knowledge, our speakers will share about how different approaches are developed within China and by foreign markets, all with the same goal of advancing business.

Prof. Zhang Tianyu will kick off the evening by sharing about his research that utilizes textual analysis to investigate the role of institutional knowledge in enhancing information advantage of local financial analysts. Prof. Gu Zhaoyang will then dive into the specific role of fund managers and discuss how institutional investors can play a role in analysts’ biased behavior, based on patterns of allocation of commission fees and personal social connections.

This will be a great occasion where we bring CUHK Business School to Singapore, whether you are an alumnus, corporate partner or prospective candidate, register your seat by January 21 (Monday). We look forward to meeting you in a few weeks!

Rundown

• 19:00–19:30 Registration (light refreshments will be served)
• 19:30–20:15 Opening remarks by Prof. Angela Ng, Associate Dean of CUHK Business School in Global Engagement and External Relations
  Presentation Sessions
  Prof. Zhang Tianyu – Understanding China Institutions through Textual Evidence
  Prof. Gu Zhaoyang – Why Stock Recommendations of Analysts in China are Distorted: the role of Fund Managers
• 20:15-20:30 Q&A
• 20:30-21:00 Networking (light refreshments will be served)

Presenters and Topics

• Prof. Zhang Tianyu
  Professor, School of Accountancy
  CUHK Business School
  Topic: Understanding China Institutions through Textual Evidence
  Institutions of a country, whether explicit or implicit, matter for its economic development. However, how institutions shape the behaviour of market participants are not obvious and are hard to be tracked. Utilizing textual analysis, Prof. Zhang Tianyu investigates the role of media in China emerging economy. His research shows how the media reform shapes the media industry, the difference in the information delivered by official and non-official newspapers, and the role of social media in correcting the bias in traditional media. His research also provides evidence on how competitions among politicians influence the comovement in stock prices.
• Prof. Gu Zhaoyang
  Professor and Director, School of Accountancy
  CUHK Business School
  Topic: Why Stock Recommendations of Analysts in China are Distorted: the role of Fund Managers
  Stock recommendations of financial analysts are often overly optimistic with the majority of them being ‘Strong Buy’ or ‘Buy’. This is true everywhere but especially in China. A number of explanations have been proposed, such as cultivating relationships with management or obtaining investment banking businesses from the firms. Based on his research, Prof. Gu Zhaoyang discusses how institutional investors can play a role in analysts’ biased behaviours. His study shows evidence that through the allocation of commission fees and personal social connections, mutual fund managers can unduly influence financial analysts in recommending favourably the stocks that the funds have invested in.

Enquiries

Ms. Maggie Ching (Tel: +852 3943 4718; WeChat: cuhkbschoolalumni; email: maggieching@baf.cuhk.edu.hk)