HIGHLIGHTS
New Dean Looks to Expand Entrepreneurship and Innovation (27 May)
SCMP Education Post carried an interview with Dean of HKUST Business School, Professor Kar Yan Tam, on his directions taking the School ahead. He highlighted that entrepreneurship and innovation, maintaining our international standing and attracting the best faculty around the globe will help position the School for continued success. Professor Tam also said partnerships with other top business schools are another key factor in maintaining our strengths, especially when it comes to creating new or enhanced programs.
GBUS 15th Anniversary Media Briefing (13 May)
TVB and most local newspapers (HKET, HKEJ, Sing Tao, Ming Pao, ODN, Ta Kung Pao, Wen Wei Po, Standard, am730, Sky Post) reported on the innovative startups set up by four of our Global Business (GBUS) graduates and the program’s 15th anniversary. In addition to the student startups, the media reported on the average salary and placement as well as the aims and positive values of the GBUS program. Dean Kar Yan Tam, who founded the program in 2001, was quoted as saying that technology advancement has facilitated and encouraged more startups among the young generation today, whereas GBUS Program Director Professor Emily Nason spoke about the graduate placement in recent years sending a signal of more diverse businesses our graduates have involved.
Student Startup Featured on Radio (13 May)
Commercial Radio carried an interview with Bradley Chiang, a final-year GBUS student who started a company called Snapask in 2014, a mobile app for high school students to chat with tutors. Named by Forbes Asia as one of the “30 under 30” brightest entrepreneurs in the region, Bradley spoke about his venture and how he managed his rapidly growing business and studies at the same time. Link
Overseas Chinese and Jewish Diaspora: Different Journeys to Global Success (7 May)
Mainland online TV platform LeTV carried talks by speakers at the TEDxShanghai Conference held on 7 May, in which Professor Roger King, Director of Tanoto Centre for Asian Family Business and Entrepreneurship Studies, delivered a speech to an audience of over 1,800. Professor King shared his insights on a topic “Overseas Chinese and Jewish Diaspora: Different Journeys to Global Success”. He outlined the differences and similarities of Chinese and Jewish and explained why the 14 million Jews are so influential in today’s world, whereas the 40 million overseas Chinese can also be influential globally by adopting some of the Jewish behavior and retaining their Asian values. Link (171:50 - 191:30)
Learning the Family Way
The Peak Magazine (May Issue) looked at the challenges of family businesses and why top universities and business schools are offering courses on family enterprises. Professor Roger King, when explaining why family businesses have become the subject of increased research in Hong Kong, said local businesses founded by migrants from the mainland after PRC was formed are now into their second or third-generation transition. He also mentioned a key issue faced by family businesses – succession, and the cases studies on family-run businesses published by the Center. The article also featured related courses run by HKUST as well other universities in Hong Kong and elsewhere, as the field is growing rapidly. Link (P10-15)
Business Insights Presentation Series Supplement (16 May)
SCMP and Hong Kong Economic Journal carried a supplement featuring the Business Insights Presentation in April that discussed on the “Role of Asset Liability Management and Economic Freedom in Investment”. Associate Professor Peter Chen, Department of Accounting, spoke about value creation and the economic freedom or institutional factors that affect the level of frictions or costs of management in making investments, while Adjunct Associate Professor Philip Cheng, Department of Finance, shared with audience on aspects of Asset Liability Management (ALM).
OTHERS
European Union Without Britain (31 May)
Hong Kong Economic Journal carried a commentary (解牛集) by Professor Edwin Lai, Department of Economics. He predicted the consequences if the UK decided to exit the European Union (EU) after the referendum on 23 July and its negative impact could have on the Eurozone, bi-lateral trade between the UK and EU, population and workforce mobility in the region, and the volatility of Euro and the British pound. Link
Universal Retirement Protection Proposed by Scholars (31 May)
Hong Kong Economic Journal carried an article by Professor Francis Lui, Director of the Center for Economic Development, commenting on the universal retirement protection option put forward by a group of scholars. He questioned the sustainability and viability of their proposal especially on several “50-year assumptions” related to the future wages of Hongkongers, profits of companies, and the money saved from the withdrawal of the “Old Age Living Allowance” and “Comprehensive Social Security Assistance” for the elderly. Link
Student Joins Volunteering Service in Laos (30 May)
Wen Wei Po carried an article contributed by a business student Tse Sin-lan, who joined a 5-month volunteer program organized by the United Nations. Tse spoke about her eye-opening experiences in Laos, where she was inspired to serve the community and contribute to the underprivileged. Link
China’s Tourism and its Economy (27 May)
Sky Post carried an article by Professor Francis Lui, Director of the Center for Economic Development. He recapped his recent visit to Hangzhou, where the booming tourism industry reveals the positive consumer sentiment on the mainland. Link
How Advance Sales Can Signal Product Quality (25 May)
SCMP Education Post carried a research summary by Man Yu, Assistant Professor of ISOM. Her study looks into the subject of “advance sales” – that is, being offered for sale to customers before the quality of the product is widely known, and its benefits to customers as well as sellers. Link
Hong Kong’s Role in “One Belt One Road” (24 May)
Hong Kong Economic Journal carried a commentary (解牛集) by Adjunct Professor Jerome Yen, Department of Finance. He discussed opportunities for Hong Kong amid the first “One Belt One Road” Summit held in Hong Kong and called on the government to set up an office to coordinate with private companies and universities and help the city step up its role. Link
“One Belt One Road” Opportunities (20 May)
Sky Post carried an article by Professor Francis Lui, Director of the Center for Economic Development. He compared the slowing-moving economy in Hong Kong and the growth of its neighboring cities like the Nanshan District in Shenzhen, where GDP is growing rapidly. It is important for Hong Kong to look for opportunities from the “One Belt One Road” initiative and capitalize on the strengths of Shenzhen including its leading edge in technology development. Link
Comment on Mainland Economy (17 May)
Hong Kong Commercial Daily interviewed Professor Francis Lui, Director of the Center for Economic Development, on his views over the growing concern on the mainland economy. Professor Lui commented on the lending and deposit levels in the country, as well as its money supply (M2). He added that China should let some “inviable” corporations to shut down or get them to reform to avoid the growing corporate default rate. Link
MBA Amazing Race (17 May)
Sing Tao Daily reported on the “Hong Kong Business Amazing Race” organized by six HKUST MBA students. The article said the event brought together some 200 participants totaling 42 teams to race through ten locations across the city. One of the event organization committee members and a current MBA student introduced the features and aims of the event that not only provided a platform for students to engage with the Hong Kong business community, but to raise fund to support the Hong Kong Neuro-Muscular Disease Association.
Human and Labor Rights in Supply Chain Management (17 May)
Hong Kong Economic Journal carried an article (解牛集) by Adjunct Associate Professor Christine Chow, Department of Finance. She discussed some international standards and best practices on supply chain management that aim to protect the human and labor rights and show care for the environment. Professor Chow said both owners of listed companies and investors should be aware of the growing importance of human and labor rights. Link
Hong Kong to Face More Competition (16 May)
Ta Kung Pao carried an interview with Professor Francis Lui, Director of the Center for Economic Development, on Hong Kong’s competitiveness. Professor Lui said Hong Kong’s position is not irreplaceable especially with the growing competition from neighboring countries. He said Hong Kong cannot sustain on its own as the city lacks natural resources, and disconnection with the mainland as proposed by some independent campaigners would adversely affect local trading and logistics, finance and professional services. Link
A Lesson from Japan (13 May)
Hong Kong Economic Journal carried an article by Professor Francis Lui, Director of the Center for Economic Development, on Japan’s economy. He looked into the effectiveness of the stimulus package introduced by its Prime Minister Shinzo Abe, including its easing monetary policy, short-term fiscal policy to boost economy and some reforms. Professor Lui doubted the effectiveness of the stimulus measures saying that the sluggish economy in Japan is the result of its aging population, which Hong Kong and even China should plan to address well ahead. Link
Clarifying the Muddle over Internet Privacy Concerns (11 May)
SCMP Education Post carried a research summary by Professor James Thong, Head and Chair Professor of ISOM. His research looks into the internet privacy concern (IPC) - a worry in society due to the huge amount of personal information being gathered, stored, transmitted and published on the Internet. His research clarifies the different dimensions of IPC and distinguishes between people’s perceptions about others’ actual behavior and their expectations of others’ behavior. Link
Three Major Risks to Global Finance Market (10 May)
Hong Kong Economic Journal carried a commentary (解牛集) by Adjunct Professor Jerome Yen, Department of Finance. Professor Yen listed out three major risks to the global finance market, including the slower pace of recovery in the US, the lackluster performance of the hi-tech industry in Japan, and the negative impact of the referendum in the UK that decide whether the country should remain in the European Union. Link
Student Follows Passion (10 May)
Apple Daily reported that a first honor Global Business graduates Edwin Wan who quit his job in a bank to follow his passion of being an opera performer. He is now studying performance at the Hong Kong Academy Performing Art in the hope that one day he can perform in West End musicals. Link
Reducing the Harm of Horrible Bosses (6 May)
Global Network for Advancement Management (GNAM) posted a research summary by Assistant Professor Huiwen Lian, Department of Management. Her research looks into a survey that found more than half of 500 respondents had suffered abuse at work and investigates the consequences of abusive supervision and how to reduce this problem. Link
Enriching CSR Learning Project (5 May)
Hong Kong Economic Times carried a supplement featuring the “Project for Hope” – an ethnic minority community service project. It is a tripartite community service partnership between the School, the Hong Kong Christian Services and Hysan. In an interview, Professor Emily Nason, Associate Dean (Undergraduate Student Affairs), explained the aims of the project, which provided a platform for students to understand the social enterprise ecosystem and the ethnic minority community. This project is an integral part of the School’s efforts to create more enriching learning activities for students to reach out and show a caring attitude.
University Ranking and Local Politics (6 May)
Sky Post carried an article by Professor Francis Lui, Director of the Center for Economic Development. He discussed the criteria of university rankings and their limitations, in particular the ranking by the Times Higher Education. Professor Lui denies those who expressed concern over the influence of local political movements at local universities on their rankings. Link
Pittsburgh's Comeback: What Does it Mean to Hong Kong? (3 May)
Hong Kong Economic Journal carried a commentary (解牛集) by Adjunct Professor Jerome Yen, Department of Finance. Professor Yen talked about how the America's steel city Pittsburgh transited from an economy heavily relied on manufacturing to one driven by cutting edge technology. He said Hong Kong should learn from Pittsburgh’s experience and establish some financing platforms to support local SME and hi-tech startups. Link
Ways to Address Mainland Debt Issue (3 May)
Hong Kong Economic Journal carried an article by Director of the Center for Economic Development Professor Francis Lui on debt in China. He explained the differences between the debt in China and other countries like Greece that led to the Europe’s debt crisis. He said the mainland debt is not the result of problems in enterprises or within the economy, but the huge public saving without enough investment channels. Link
Economic Benefits of “Ladies Night” (3 May)
Oriental Daily News carried an article by Assistant Professor of Business Education Siu Kam Wing, Department of Economics. Professor Siu discussed the “price discrimination” case after the court ruled that “ladies nights” were discriminatory in the city. Professor Siu agreed that “business promotion does not take precedence over equal opportunities”, but added that such ruling or any public policy would be not be able to completely eradicate steps that bars would take to attract customers. Link
First Student-Led HKUST MBA Case Competition (6 May)
Sing Tao Daily reported on the first student-Led HKUST MBA Case Competition that has brought together 40 peers from top business schools around the world. Mr Mark Wise, the Competition Organizing Committee Chairman and also President of the MBA Association, was quoted as saying that the contest has created an exceptional learning platform for the world’s brightest MBA students. The overall championship ended in a tie between the home team HKUST and the visitors from CEIBS.
Time for Hong Kong to Stop Nuisance Calls (14 Apr)
SCMP Insight and Opinion carried an article contributed by Professor Kai-Lung Hui of ISOM. He discussed a consumer survey commissioned by the Commerce and Economic Development Bureau that shows 96 per cent of respondents consider “cold call” nuisances and called on the government to impose stronger regulation. Link