Inaugural Conference on China Institutions, Governance and Accounting
首届中国制度, 公司治理及会计研讨会
July 13-14, 2012
2012年7月13-14日
Shenzhen, China
中国 • 深圳
On July 13-14, 2012, the Inaugural conference on China Institutions, Governance and Accounting was held at the CUHK Shenzhen Research Institute in Nanshan, Shenzhen. The conference was organized by CUHK Business School’s Center for Institutions and Governance (CiG) and supported by the School of Accountancy. There were over 70 academics in attendance, flying in from all over world and many of the world’s leading experts had the opportunity to present and critique during the conference. A number of contemporary researches were presented and discussed in various formats including lectures, paper workshops and highly interactive panel discussions.
The two-day conference started with an inspirational keynote speech – “IFRS: Where Are We Headed?” delivered by Prof. Ray Ball from the University of Chicago, kicked off conversations and discussions throughout the rest of the conference. The second keynote speech, “Overview of Corporate Governance Research: Implications for China” was delivered by Jerold Zimmerman from University of Rochester. The powerful messages discussing the trends of Corporate Governance in China set the theme at the conference.
The conference featured a number of papers under three themes: 1) Accounting Information and Financial Intermediaries; 2) Corporate Governance and Corporate Finance; 3) Accounting Information and Standards. Discussion during each presentation was lively and passionate with a good deal of thoughtful debate – it’s what one would expect from leading authorities all gathered in one seminar room!
The two-day conference ended with a long-awaited and inspiring Panel Discussion session on the topic of “Regulations and Corporate Governance of Chinese Listed Firms”. The panel included Mr. Anthony Neoh, QC, SC, Former Chairman of Hong Kong Securities and Futures Commission and Former Adviser of China Securities Regulatory Commission, Mr. Zhonghui Zhou, Member of International Advisory Council of China Securities Regulatory Commission, Former Chief Accountant of China Securities Regulatory Commission and Former Senior Partner of PricewaterhouseCoopers and Mr. Rui Yang, Deputy CEO of Bosera Asset Management Co. Ltd. The discussion was facilitated by Prof. TJ Wong, Dean of CUHK Business School.
Feedback from participants on the conference has been very positive, both about the learning from the presentations but also about the value of a mixed domestic and international scholars coming together to exchange ideas on discovering problems and suggesting ways to improve the accounting environment in China.
Program
会议日程
Asterisks denote presenters.
| 09:00 am – 09:30 am | Registration |
| 09:30 am – 09:40 am | Opening Ceremony |
| 09:40 am – 10:40 am | Keynote Speech: IFRS: Where Are We Headed? Ray Ball (The University of Chicago) |
| 10:40 am – 11:00 am | Coffee Break |
| 11:00 am – 12:00 pm | Keynote Speech: Overview of Corporate Governance Research: Implications for China Jerold Zimmerman (University of Rochester) |
| 12:00 pm – 02:00 pm | Lunch |
| Session 1: Accounting Information and Financial Intermediaries Session Chair: Danqing Young (The Chinese University of Hong Kong) |
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| 02:00 pm – 3:00pm | The Value of Relationship-based and Market-based Contracting: Evidence from Corporate Scandals in China * Mingyi Hung (University of Southern California and The Hong Kong University of Science and Technology) T.J. Wong (The Chinese University of Hong Kong) Fang Zhang (Hong Kong Baptist University)Discussant: Clive Lennox (Nanyang Technological University) |
| 03:00 pm – 04:00pm | Friends with Helpful Opinions: The Effect of Social Ties with Mutual Fund Managers on Analysts’ Recommendation Bias * Zhaoyang Gu (University of Minnesota) Guangqing Li (Shanghai University of Finance and Economics) Zenguan Li (Shanghai University of Finance and Economics) George Yong Yang (The Chinese University of Hong Kong)Discussant: Bin Ke (Nanyang Technological University) |
| 04:00 pm – 04:20 pm | Coffee Break |
| 04:20 pm – 05:20pm | Government Intervention and the Development of China’s Financial Intermediaries: Efficiency or Political Opportunism? Joseph D. Piotroski (Stanford University) T.J. Wong (The Chinese University of Hong Kong) * Donghui Wu (The Chinese University of Hong Kong)Discussant: Oliver Zhen Li (National University of Singapore) |
| Session 2: Corporate Governance and Corporate Finance Session Chair: Albert Tsang (The Chinese University of Hong Kong) |
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| 08:40 am – 09:40 am | Exit as Voice: The Intended Consequence of Independent Resignations in an Emerging Economy Karen Lin (Sun Yat-sen University) Joseph D. Piotroski (Stanford University) Jingsong Tan (Sun Yat-sen University) * George Yong Yang (The Chinese University of Hong Kong)Discussant: Mingyi Hung (University of Southern California and The Hong Kong University of Science and Technology) |
| 09:40 am – 10:40 am | Politicians and the IPO Mechanism: The Impact of Impending Political Promotions on IPO Activity in China Joseph D. Piotroski (Stanford University) * Tianyu Zhang (The Chinese University of Hong Kong)Discussant: Qiang Cheng (Singapore Management University) |
| 10:40 am – 11:00 am | Coffee Break |
| 11:00 am – 12:00 pm | The Effect of Country-level Institutional Environment on the Quality of Big Four Audits * Bin Ke (Nanyang Technological University) Clive Lennox (Nanyang Technological University) Qingquan Xin (Chongqing University)Discussant: Gwen Yu (Harvard University) |
| 12:00 pm – 02:00 pm | Lunch |
| Session 3: Accounting Information and Standards Session Chair: Grace Pownall (Emory University) |
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| 02:00 pm – 3:00pm | Did China’s Adoption of IFRS Attract More Foreign Institutional Investment? Mark DeFond (University of Southern California) Xinzi Gao (Shanghai University of Finance and Economics) * Oliver Zhen Li (National University of Singapore) Lijun Xia (Shanghai Jiao Tong University)Discussant: Zhaoyang Gu (University of Minnesota) |
| 03:00 pm – 04:00pm | The Role of Accounting Information for Valuation in China and Emerging Markets Xianjie He (Shanghai University of Finance and Economics) * Joseph D. Piotroski (Stanford University) Oliver M. Rui (China Europe International Business School) T.J. Wong (The Chinese University of Hong Kong)Discussant: Jie Zhang (Rega Technologies Limited) |
| 04:00 pm – 04:20 pm | Coffee Break |
| 04:20 pm – 05:50pm | Panel Discussion on Regulations and Corporate Governance of Chinese Listed Firms |
| Panelists:Anthony Neoh QC, SC (Former Chairman of Hong Kong Securities and Futures Commission and Former Chief Adviser of China Securities Regulatory Commission)Zhonghui Zhou (Member of International Advisory Council of China Securities Regulatory Commission, Former Chief Accountant of China Securities Regulatory Commission and Former Senior Partner of PricewaterhouseCoopers)Rui Yang (Deputy CEO of Bosera Asset Management Co., Ltd.)T.J. Wong (Dean of CUHK Business School) |
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