Building career opportunities during Covid-19

Many aspects of student life have been tough during the pandemic. To assist students to gain meaningful career experience, HKU Business School has a career service team that helps students with job and internship searches. During the second wave of the coronavirus outbreak, they organised a “Career Skill Enhancement Workshop Series” covering the likes of financial interview preparation, storytelling in business presentations, industry overviews, as well as networking and carrying out social-professional conversation.

Students were able to connect with industry professionals using the likes of live polling and virtual face-to-face Q&A sessions, gaining the critical industry knowledge needed to enter the market. This was augmented by a “Fireside chat with professionals — enhancing professional presence”, where students learned the essentials from industry professionals. Other initiatives included a partnership with Facebook to offer Blueprint Marketing Certificate free examination vouchers for students.


A screenshot of live polling which allows interaction and better understanding of the audience in the “Networking and Social Professional Conversation” webinar.

It’s an internship… but not as we know it

In a year where the whole world has turned upside down, students are still pursuing internships. So what has the experience been like for them? Amber Cheng, a BBA(Law) Year 4 student, took a four-week virtual internship at BlackRock that she found through the School, assisting in product positioning, client product strategies, along with data analytics.

“There have been an ample number of trainings and virtual meet-ups with mentors and colleagues from the company. Although not being able to interact with people face-to-face and network with people outside the team has been a disadvantage, overall this has been a great experience,” she says.

Meanwhile, Rain Wu, a BBA(Acc&Fin) Year 3 student, was an intern in the Investment Banking Division at Morgan Stanley for six months, starting in January 2020 before Covid-19 hit Hong Kong. “We had around one and a half months of working from home, during which my job duties were not particularly affected, because the company provided remote working facilities and I also set up a workplace in my home,” says Rain.

During an internship, Rain worked on an airline restructuring and many other exciting projects. So have there been any down sides at all? “We have had longer working hours. When working from home, there’s no clear boundary between life and work. There has also been a lack of interaction with people, and little chance for us to meet with colleagues and network. In the long-run it can actually make people feel lonely,” adds Rain.

Loneliness was not an issue for Elvis Ngai, a BBA(IBGM) final year student, who undertook an internship co-organised by the School and Neuberger Berman. During his internship, Elvis felt that he was part of the family because the company was concerned about the health and wellbeing of all its employees. “They offered us plenty of masks and sanitisers when supplies were tight in the market,” he says. For young people looking to start a career, a little love and care can go a long way.

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HKU Business School Shenzhen Alumni Dinner and Friendship Golf Tournament 2020

HKU Business School Shenzhen Alumni Dinner was successfully held at Park Hyatt Shenzhen on Sunday, August 16, 2020. Over 100 alumni, students and guests gathered for this memorable evening.

Professor Hongbin Cai, Dean of HKU Business School, welcomed all guests with an opening address, “2021 marks the 20th Anniversary of the School. We are committed to becoming the leading powerhouse of research and knowledge creation in Asia with global impact. We look forward to joining forces with alumni in the Greater Bay Area to nurture a new generation of leaders in this fast-changing business world.”

Professor Chung-Mau Lo, Hospital Chief Executive at The University of Hong Kong Shenzhen Hospital, Chin Lan Hong Professor and Chair of Hepatobiliary and Pancreatic Surgery delivered a speech as distinguished guest. He hopes to further strengthen the interdisciplinary collaborations between HKU Business School and Li Ka Shing Faculty of Medicine to enhance healthcare management.

Mr. Pan Lei, Leader of Executive Education Golf Team shared the joy of HKU Business School Friendship Golf Tournament which was successfully held in the afternoon.  Over 30 golfers from Executive Education programme, HKU-PKU DBA programme and the School’s Shenzhen Alumni Chapter enjoyed this outdoor event and built new friendships.

At the dinner, Mr. Wenwei Xu, Director and President of the Institute of Strategic Research at Huawei shared his student journey at HKU-PKU DBA programme.

Mr. Da He from HKU-PKU EMBA prorgramme updated everyone the preparation for the 15th Gobi Desert Challenge, and called for more alumni and students to participate in this meaningful competition

Mr. Ben Shen (EMBA-Global Asia 2018), President of HKU Business School Shenzhen Alumni Chapter, expressed his passion to continue strengthening the alumni network in Shenzhen and the Greater Bay Area, and serving as a bridge connecting alumni and the alma mater.

All guests enjoyed this wonderful gathering which demonstrates the strength of our alumni network, as well as the unity and dedication of our students and graduates. 2020 has been a challenging year for everyone in HKU Business School community, but together we will overcome the difficulties during this turbulent time and create a brighter future in post-pandemic era.

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FBE team wins the championship in PwC Career Plus Challenge

The team, Mind Benders, of four FBE students won the championship in the PwC Career Plus Challenge. Under the theme “Ideal Employer”, teams of undergraduate students worked on the case “How to make the ideal workplace come into reality through an innovative and systematic way?”. The competition was divided into two rounds. In the preliminary round, teams were required to submit a 15-slide analysis report. Over 450 applications were received from Hong Kong, China and some other Asian countries. 15 top teams were selected to advance to the final round.

Team members of Mind Benders:

Mr. KALA Divyansh, BEcon&Fin, Year 2
Mr. SONG Yongmin, BEcon&Fin, Year 4
Ms. SOOD Preksha, BEcon&Fin, Year 2
Mr. TAN Zhang Zhe, BBA(Acc&Fin), Year 2

Students Sharing:

KALA Divyansh, BEcon&Fin, Year 2

The journey of the team “Mind Benders” in PwC’s Career Plus Challenge was great and fulfilling. Being the leader of this team of talented individuals helped me to grow a lot. The Challenge provided us with a great platform to build and showcase our knowledge. It also gave us insights on how the work culture would transform and how GenZ would be the epicenter of change. Special thanks to PwC and our mentor, Ms. Berreta, who provided full support to our team throughout the Challenge.

SOOD Preksha, BEcon&Fin, Year 2

PwC’s Career Plus Challenge provided us with the opportunity to understand the key differences between GenZ and other generations and the way that GenZ would change the future workplace environment. It also enabled me and my teammates to expand our knowledge and to grow as researchers, presenters and leaders. It was definitely a beyond exciting journey and an extremely enriching experience.

 

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Horse Riding & Stable Visit

Students have joined the Horse Riding & Stable Visit at the Tuen Mun Public Riding School on November 8, 2019 (Friday). They enjoyed a pleasant short horse ride there and a stable visit. Also, they discovered more about horse’s daily life and the stable operations.

The Tuen Mun Public Riding School is the largest public riding facility in Hong Kong managed by the Hong Kong Jockey Club.

Details for the Horse Riding & Stable Visit: 

  • Tour of school facilities and environment
  • Introduction to horse fodder
  • Briefing of horse habits and customs
  • Demonstration of horse shoeing
  • Touch and feel of miniature ponies
  • Short horse ride
Horse Riding & Stable Visit
Horse Riding & Stable Visit
Horse Riding & Stable Visit
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The BBQ & Golf Fun Day 2019

The BBQ & Golf Fun Day 2019 was successfully held at Whitehead, Ma On Shan on October 26, 2019 (Saturday). Both current students and alumni participated in the event and had a very relaxing fun day at Whitehead.

They experienced 2 hours golfing at the driving range with 1 hour golf training by professional coaches. After the golf basic training, they enjoyed the BBQ and mingled with fellow classmates, alumni, and friends at the seaside villa. All of them were able to have some fun, connect, and share their experiences.

 

Result announcement: A Tagline for HKU FBE!

2021 marks the 20th Anniversary of the Faculty of Business and Economics. The Faculty has planned for a new branding campaign and invited our faculty members, students, staff and alumni to co-create a tagline that aligns with our vision and mission, and conveys powerful message to the community.

We are thrilled to receive over 120 entries from the FBE community. Five outstanding ideas as follows are shortlisted based on the relevance to the Faculty, creativity and catchiness of their tagline ideas:

Contributors*Connection with FBETagline Ideas
CHU Weng LamAlumnus (Class of 2019)Forward, Beyond Expectations.
ISHAR MohitAlumnus (Class of 2010)Enlighten minds | Brighten Tomorrow
LIU LiangAlumnus (Class of 2014)Bridge the world, build the future.
SUEN Wing LamCurrent studentInspire Thinking, Aspire Leading.
TIPNIS SachinCurrent staffEmpower · Inspire · Lead

*Listing in alphabetical order of surname

Congratulations to all the selected contributors and you will receive individual notification email accordingly.

Thank you everyone for your participation in this campaign. We are now finalising the tagline, based on the five selected ideas, to best reflect the uniqueness and highlight the essence of the Faculty.

Please stay tuned to our upcoming events and we count on your support to make the 20th Anniversary Celebration a remarkable one.

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Dr. Jingqi Wang receives Faculty Outstanding Researcher Award 2019-20

Dr. Jingqi Wang receives Faculty Outstanding Researcher Award 2019-20

Dr. Jingqi Wang, receives Faculty Outstanding Researcher Award 2019-20r. Jingqi WangAssociate Professor of Innovation and Information Management, is the recipient of the Faculty Outstanding Researcher Award 2019-20. Possessing strong interest in conducting empirical studies in operations management, technology supply chains, and innovation in supply chains, Dr. Wang’s work were published in academic journals of international standing, such as Management Science, Manufacturing and Service Operations Management, and Production and Operations Management.

The Selection Committee acknowledges the high quality and quantity of Dr. Wang’s research publications, and his important contributions through novel research during his service with the University of Hong Kong.

The Faculty Outstanding Researcher Award was established to honour and reward faculty members for having done excellent research and achieved international recognition in the field of business and economics.

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The All-Rounded Talent: Dr. Tuan Quang PHAN

The ultimate multitasker

While Dr. Phan asserts that he is never in the academic rat race, his dedication and interests towards science and technology have rewarded him the opportunity to major in computer science and electronics engineering at MIT with concentrations in business and economics. Excellent academic performances, mastery over technical skills, has brought Dr. Phan with other like-minded individuals to establish a start-up in software engineering during his sophomore years. Dr. Phan’s multitasking ability is very impressive. Few could manage to study three majors, run a start-up, prepare for job interviews, and win ball-room dancing competitions in tandem.

 

“I am a person motivated by interest. I do things that I am interested in, therefore I never have problems with time management.”

From the private sector to the academia

While Dr. Phan’s start-up had produced a state-of-the-art 3D graphics drawing software, the market response was lukewarm. At the start-up, he fell in love with applying his technical skills to business problems. After a stint in the corporate world, Dr. Phan realized that business problems can be more complicated than engineering problems. Engineering problems are usually placed in a right-or-wrong dichotomy. They are well defined, and an absolute answer could be obtained. Business problems, on the other hand, are amorphous. Depending on how you define it, the problems can be addressed.  Otherwise, it can be intractable. While data are increasingly available, it is critical for business leaders to place it into context and include other hard-to-observe factors including consumer psychology, endogenous economic effects, and sundry processes.

 

This discovery has encouraged Dr. Phan to become a marketing consultant to look at intangible problems with a quantitative lens. After taking a PhD in marketing and accidentally falling in love with knowledge creation, Dr. Phan has decided to become a marketing scholar.  

 

Consultation works in Hong Kong

In addition to teaching and research, Dr. Phan also engages with industry leaders in Hong Kong. His duty is to consult local companies from different sectors, mainly through marketing, education, social media, Big Data, AI and Fintech. Dr. Phan will assist them to incorporate big data, AI, and digital technologies into their strategies. Furthermore, he will advise them on the development of micropayments and micro-lending technologies.

 

Knowledge sharing – Fintech Development in Southeast Asia & Human adaptability

On Jan 2, Ant Finance, a subsidiary of Alibaba has applied for a virtual bank license in Singapore. Given that local students have little understanding of the Southeast Asian financial market and they are generally enthusiastic about Fintech, we have taken this opportunity to seek Dr. Phan’s knowledge. Moreover, as Dr. Phan is an expert in social networks, youth mental health, and education, we would also like to seek his advice on social problems created due to the lack of face-to-face communications with the rise of the digital era.

 

First of all, will virtual banks replace traditional banks?

In the realm of virtual banking, there are Fin-tech firms and Tech-fin firms. Fintech firms are originally technology companies that have eventually transformed into financial institutions. For example, while Ant Finance was originally responsible for the E-commerce of Alibaba, it has eventually become a virtual bank due to the development of Big Data technologies. Tech-fins are financial institutions that have been modernizing themselves with the latest financial technologies. Although they have different starting points, they share the same destination.

Dr. Phan believes that competition between traditional financial institutions and Fintech firms is unlikely. Fintech firms are very specialized, mostly in the fields of micro-lending and payment services, a niche where traditional financial institutions may not have a comparative advantage. On the other hand, traditional financial institutions provide a package of general services to the market. They handle deposits, sell investment plans, and issue huge loans for businesses. Dr. Phan believes that even if the Fintech firms so desire, they are unable to challenge traditional financial institutions as they are unable to take deposits. This is a point made by the CEO of Citibank, to be one of the mistakes Citibank had made in previous years. Without sufficient retail chains to collect cash (deposits), Citi has a hard time to get entrenched in the Asian financial market. While North Asian countries are heading towards a cashless society, the Southeast Asian countries are still very cash-based.

 

An overview of the Southeast Asian financial market

Dr. Phan said that the Southeast Asian financial market is very fragmented. Judging from the market size and population, the VIPs of the region are Vietnam, Indonesia, and the Philippines. However, their progress of development in Fintech and their legal framework on financial laws varied greatly. While most of the Southeast Asian countries are still very cash-based, things are changing in Indonesia. In an unofficial survey, Dr. Phan realized that 80% of the Indonesian population would use Gojek as a digital wallet, implying that Fintech development is progressive in Indonesia, whereas the development of Fintech in Vietnam will be slower, as the threshold to attain virtual banking license is high. In Cambodia, the emergence of Fintech loan sharks has made a lot of citizens seriously in-debt.

 

The development in Singapore is a totally different story. Singaporeans on average have around half a dozen credit cards and they are open to Fintech. However, Dr. Phan is of the opinion that E-payment is not going to challenge the supremacy of credit cards in Singapore. This is mainly because the benefits given by E-commerce are incomparable to credit card companies in the present.

When asked whether there is a bubble in the Fintech sector, Dr. Phan is convinced that as the banking industry is more cautious nowadays, another dot-com bust is unlikely. Valuing factors such as sustainable cash flow and healthy credit records more than business ideas may slow down the growth of technology, but it creates a more stable investment environment.

 

The adaptability of humans and the necessity to salvage those who failed

The lack of face-to-face communication and the development of online technologies have enabled oneself to isolate themselves in niches of the internet, creating cynical communities such as the Incels (involuntary celebrated). However, putting the issue in a bigger scope in the history of mankind, the development in communication technologies have always created better than harm.

Thousands of years ago we have to ride a horse in order to traverse geographical boundaries and carry out long-distance communication. Now, with the help of the internet, boundaries of space and time are broken and communication costs are greatly reduced. Dr. Phan had worked with data scientists on Facebook and other big technology companies through the years and has observed how people’s attitude and behavior towards social media has changed over time. For example, when Facebook was first introduced, people are very open about their private life online. After realizing the detrimental effects such as identity theft, data loss, and social media addiction disorder, governments have started to regulate their usage and grow awareness of online privacy. What politicians and academics can do is to educate citizens more systematically on issues such as online privacy and security.

 

Way forward

Dr. Phan believes that Hong Kong is experiencing an awakening. The city has realized that she is more than an IFC but also a major regional and global research and R&D hub. However, the city is seriously lagging behind in the implementation of new technologies in business operations and daily life. Dr. Phan suggests that Hong Kong could learn from the USA, China, Europe, and Singapore in its success to be technologically developed.

For example, the success of Singapore is credited to its government’s willingness to provide support to upgrade all its sectors.  Initiatives such as labor force upskilling, upgrades on the company’s systems and business models are carried out with full support. Dr. Phan recommends the Hong Kong government to take a two-pronged approach. On one hand, the education system should put a heavy focus on information technologies and AI since primary education. On the other hand, free or subsidized short-term non-degree programs for the labor force in order to make them compatible with the introduction of high-end production technologies. It is only when the norm of learning technologies is formed, the city would have the momentum to catch up with its neighbors.

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To Sip Happiness from the Brew of Foreign Exchange Rates: Dr. Thomas Andreas MAURER

Hasta La Vista Family Business

Prior to the father of Dr. Maurer becomes an entrepreneur, he was the successor of his family business. Instead of taking joy of becoming the torchbearer, working and arguing with his own kin were miserable to him. Therefore, he admonished his children that they should pursue their own interests instead of following his footsteps.

 

Pursuing the interests he did, Dr. Maurer had taken major in Economics and furthered his economic studies by enrolling in a master's programme. Propelled by flying colors on his scorecard and strong business acumen, Dr. Maurer was awarded an equity research internship with a renowned titan in the banking sector. Although conducting equity research in private banking is a dream to many business students, Dr. Maurer found it not his cup of tea.

 

While most practitioners in the industry are only keen to know how financial models and equations could assist them in trading, Dr. Maurer is interested in understanding the inner workings behind different models and equations. To gain new knowledge by exploring the unknown, and to prove hypothesis through scientific corollaries and nuance logical deduction is what Dr. Maurer find financial studies interesting. Eventually, Dr. Maurer took a PhD in finance and became a scholar.

 

Pedagogy as a noble pursuit

In the natal years of Dr. Maurer’s academic career, he only treated teaching as an obligation. But subtle changes soon occurred and Dr. Maurer began to develop interests to connect with his students. During his teaching career in the US, Dr. Maurer reminisced that classes were small. One professor only has to lecture around 40 students. Capitalizing the advantage of a small class-size, Dr. Maurer took the initiative to discuss with students on their studies and career choices. Dr. Maurer felt privileged to be a teacher, as clearing the fog shrouding students’ future with his experience and knowledge, and subsequently receiving their gratitude, is a very rewarding achievement.

 

PhD is not the best path to investment banks

While Dr. Maurer welcomes students to join academia, he stresses that one must be passionate towards knowledge creation and must have great endurance. Creating new knowledge out of the blue is no easy task. While most enjoy the process of brainstorming new ideas, it could be boring to keep reading literature and thinking on the same problem for weeks, for months, and for years. Errors will also keep popping out, forcing researchers to redevelop their models over and over again. But Dr. Maurer believes that one could still seek joy from the ordeal. To discover special patterns and share your findings with other like-minded individuals in seminars and conferences, are what Dr. Maurer describes as “small happiness” in research.

 

Although taking a PhD could help you to land a job in the back office of an investment bank, Dr. Maurer considers this strategy an uneconomic one. PhD is not only difficult to accomplish, but it also takes 4-6 years from you. One would have been promoted several times during this interval already. In addition, research skills developed in PhD is not entirely compatible with the private sector. While the academia offers scholars unlimited research time and full discretion on topics selection, financial institutions do not offer you such luxury. It will be difficult for one to adapt to transfer from academia to the private sector.

 

Foreign exchange research

Over the years, Dr. Maurer has developed a great interest in researching on foreign exchange rates. His latest research focuses on what risks do investors face in the foreign exchange market and how they would mitigate and hedge these risks. Dr. Maurer points out that while there are a lot of existing financial models capable of explaining different economic forces, they are usually terrible at analyzing the economic forces behind the risks in the foreign exchange market. In order to solve this conundrum, Dr. Maurer adopts a two-pronged approach.

 

From a theoretical point of view, Dr. Maurer investigates how different investors from different countries price different risks by investing in different assets, and how their actions are related to exchange rates. On the other hand, Dr. Maurer will analyse this phenomenon empirically in order to investigate the optimal combination of different risks which generates the highest possible average return. In addition, Dr. Maurer will also investigate the risk compensation each risk in the foreign exchange market earns. Dr. Maurer believes that this research is useful to currency traders, high net worth individuals and international corporations’ which aims to hedge risks and even central banks around the world.

 

Using the Hong Kong Monetary Authority (HKMA) as an example, it is tasked to maintain the fixed exchange rate between the Hong Kong dollar and the US dollar. However, as the stability of the link is constantly under-challenged caused by local and US economic shocks, the HKMA has to buy or sell US dollars regularly in order to stabilise the exchange rate. Therefore, it is important to understand these risks and to know how expensive monetary interventions could get.

 

The time discount rate of US soldiers’ pension

In addition to his research on foreign exchange rates, Dr. Maurer is also researching on time discount rates by using data from the US military. The model aims to analyse how the changes in time discount rates affect asset pricing and the equilibrium model.

 

In the US military, soldiers are given a choice to either use a normal pension plan, or to get a cash pay-off immediately from their future pensions. This data enables Dr. Maurer to estimate the implied time discount rates for these soldiers and based on these results, Dr. Maurer discovers that there is a huge time variation in the discount rates among different service members. After further research, Dr. Maurer discovers that changes in local macroeconomic, especially in the changes of the property price, have a significant impact on the time discount rates on US soldiers.

 

In the US, if the value of your property appreciates, house owners could make their house a collateral and borrow more money from the bank, encouraging an increase in consumption expenditure. On the other hand, an appreciation in property value makes one feels wealthy, which may encourage additional consumption expenditures. After the US housing market crashed in 2007-2009, the country has been in need of efficient property policy. It is vital to understand whether relaxing borrowing constraints or asset purchasing programs are more effective to stimulate the economy. More recently one may wonder whether cash handouts by the HK government to citizens are an efficient policy to revive the local economy.

 

Are fintech firms deceiving investors?

Ever since the fintech trend has taken off, there have been concerns that fintech firms are deceiving investors by producing unnecessarily sophisticated and expensive technologies to solve simple tasks that could be handled by cheaper alternatives. Dr. Maurer had once heard of a story, where a firm had added the word Blockchain in its company name whilst none of its business is involved in Blockchain. The stock price of that company raised greatly immediately after the rename but it plunged after it was debunked.

 

While these kinds of fiascos are unpreventable, Dr. Maurer remains positive that the development of fintech does inject new impetus into the market. For example, the emergence of crowdfunding platforms has enabled a lot of micro start-ups who were rejected by traditional financial institutions to acquire capital. Crowdfunding platforms are also very useful in pushing social agendas. For example, in October 2019, YouTuber MrBeast and Mark Rober had started an initiative called TeamTrees, which aimed to raise USD 20 million to plant 20 million trees. The project received overwhelmingly positive feedback on the internet and its advertisements were featured in over 8000 YouTube videos by December 2019. The movement had also drawn the attention from big investors such as Elon Musk, who donated USD 1 million (and changed his Twitter account name into Treelon afterward), and the CEO of Shopify Tobias Lütke, who donated USD 1 million and 1 dollar. The project had met its goal in December 2019.

 

Machine Learning, on the other hand, is also a game-changer in the financial sector. Compare with traditional formulas and programmers, an AI could process large amounts of unprocessed data to calculate and predict different growth patterns. While the data produced by AI are highly accurate, Dr. Maurer also thinks that its major problem lies in its opaque operation pattern. AI operates in a black box. It presents the results to users without conveying how the result is produced. While financial institutions may not be keen on truth-seeking, it more or less implies that AI will not be beneficial to fields other than finance, such as in the fields of policymaking. When fathoming policies or predicting the impact of a certain policy, policymakers would have a strong incentive to understand what role do different factor play and how to do different factors impact one another. This matters to policymakers as the government serves as a platform to bridge and balance the interests of different stakeholders. Simply focusing on the end results without analyzing the impacts could yield catastrophic results.

 

Way forward

Joining HKU, Dr. Maurer hopes that he can create a positive impact on students’ personal development. Teaching in HKU for one semester, Dr. Maurer observes that students are relatively shy compare with the West. Dr. Maurer understands it is difficult to speak publicly as he himself takes years of practice to overcome this challenge. While he is keen to hang out with students, Dr. Maurer believes that the class size in Hong Kong might be too overwhelming to pull it off.

 

Inspired by the dean’s ambition to make the business school one of the best in the world, Dr. Maurer is aspired to form an international foreign exchange rates, expert group, by leveraging the reputation and connection of HKU.

 

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Learn How to Play Hard in order to Work Harder: Dr. Jing LI

Final destination

Before Dr. Li becomes a scholar, she was a practitioner of a financial leasing company. Frustrated by the lack of systematic record management methodologies in the market, Dr. Li decided to develop these tools herself. But eventually, the joy of creating and passing down knowledge has Dr. Li stayed behind.

 

Dr. Li herself is a very passionate teacher. Her students find her friendly and approachable. They also commented that she is exceptionally good at simplifying complicated phenomena into simple understand principles. Substantiating her views with rich case studies, students genuinely believe that they could learn a lot from her. Satisfied with what she has achieved, Dr. Li views academia as where she belongs.   

 

What to do after graduation?

Many have asked Dr. Li on whether they should further their studies after graduation. Other than time and funding, the important question is to understand what kind of career you are pursuing. If you are into knowledge creation, Dr. Li encourages students to enter academia through MPhil and PhD. If you are keen on developing a career in the private sector, taking a Master would be conducive. Master programmers are the best venues for industry practitioners to establish their network and the programme itself has a strong focus on real-life applications.

 

To become an all-rounded person

No matter what paths students are choosing, Dr. Li believes that keeping an open mind greatly empowers one to excel in both academia and the private market. Most of the time, the reason we cannot solve a problem is likely because our view is limited and the knowledge and methodologies we possess are insufficient. It is therefore important for one to broaden their horizons and develop an international worldview.

 

As a scholar of economics, Dr. Li strongly recommends economics major to pay attention to other business and non-business related disciplines. Economics is omnipresent. Its theories and econometrics models are used by political scientists in policymaking, used by marketing teams to predict growths, and used by computer engineers in developing financial products. Therefore, one cannot fully understand the reach and implications of economics simply through textbooks. Business students are, therefore, highly encouraged to develop a second major in a non-business related stream.

 

For students interested in developing a career in the private sector, Dr. Li believes that computer science suits them best. In the age of data, having expertise in coding and programming would be very desirable. But for students who hope to realize their knowledge and create social impacts, Dr. Li believes that studying international relations and political science could empower them to achieve their aspirations.

 

Beyond career choices, Dr. Li believes that majoring in communications could greatly benefit one in their studies and work. After all, we need to present ourselves clearly in order to persuade effectively. Either persuading investors through project proposals or persuading our teachers that we really have to pay attention in class via term assignments. As business students lack the opportunity to write, other than majoring in communications, the best way to hone one’s writing skills is to read novels and journey articles. However, given that business students are occupied by case competitions, intern interviews, and other after-school activities, Dr. Li believes that consultation reports could be a short-cut. Consultation reports are masterpieces. They are very short but they are capable of conveying important messages with the easiest of words.

 

However, even though there is a short cut, developing good writing skills is still a chronic process. Dr. Li recommends students that after they have finished writing, they should read it to themselves and seek comments from their friends. If time allows, students should leave their writing for 3-4 days before reading it again. Then, you could review it with a fresh mind and may even discover hidden problems.

 

But at the end of the day, the purpose of taking a second major is to diversify our skills and broaden our horizons. Therefore, if students are interested in non-business related disciplines such as music, literature, and sports, Dr. Li would also offer them her full support. (If you are interested in the relationship between arts and economics, please check out Professor Li Jin’s article: “Art, Life, Economics”)

 

The ABCs of a Researcher

During the interview, Dr. Li had also shared with us her life as a researcher. She believes the presentation for her PhD dissertation was the most remarkable experience in her scholar career. She was very nervous at the beginning but after being encouraged by her PhD adviser, she had gained the confidence to present it eloquently. Dr. Li believes that the gist to excel in a public presentation is to have faith in yourself. Once you have successfully convinced yourself that you are THE expert in what you are presenting, you could express yourself freely on stage.

It is easier said than done and practice makes perfect. As the first step is the most difficult, Dr. Li encourages students to practice with her prior to their presentations. Although she would kindly offer them advice to improve, she hopes that students could gradually expand the size of their practice audience. From your parents to your friends, from 20 audiences to 200 audiences, you will eventually get used to public presentation.

 

The elementary school teacher of Dr. Li had told her that “Those don’t know how to play, don’t know how to study.” Now she thinks about it, this sentence is particularly true after she has embarked on her academic journey. As it is very often for one to face setbacks and failures during research, one must learn how to relax. Dr. Li herself will take one day off every week in order to refresh her mind. When she returned to her work desk tomorrow, she would be able to view the problem from a whole new perspective. In addition to talking with friends and family, discussing with other Ph.D. students and scholars could be conducive to gain new professional insights.

 

Research in the pipeline

Currently, Dr. Li is working on two research papers. The first one is about consumer preferences for variety. When speaking of purchasing preferences, we often think that we will only buy one specific type of product. For example, we will either buy a bottle of coke or a bottle of orange. But in reality, consumers will prefer variety. Dr. Li observes that consumers will purchase different products of the same group (E.g. plain yogurt and strawberry yogurt) and consume them in rotation. Therefore, Dr. Li attempts to translate this behavior into an economic model in order to facilitate future analysis of consumer demand estimation.

 

The second research is about product quality in the Chinese steel industry. Dr. Li observes that if you try to increase product quality, the costs will grow because of resources spent on R&D and QC. However, in the Steel industry, Dr. Li discovers that the construction for normal buildings does require the perfect steel. The market for average steel exists and it is surprisingly large! Therefore, Dr. Li aims to investigate how steel factory owners will make their production decision. Whether they will produce the hard-to-produce perfect steel and seek value from the high-profit margin, or will they go for the easy-to-produce average steel to guarantee income.

 

Knowledge sharing: Case studies of proper indirect advertisements & The economy in the era of solitude

Since Dr. Li is an expert in consumer preferences and she has been keeping a keen eye on social issues, we have decided to seek her knowledge on these issues.

 

Indirect advertisement – a Hong Kong case study

In November 2016, during an anniversary celebration of a TV station, its artists are arranged to consume fried chicken from a famous brand on screen for more than a minute. This incident not only angered netizens, but it also caused the company to be fined HKD 150,000. This is not the first time the TV station was criticized for its improper advertisements. In 2016, in a fantasy costume film, some netizens found that the protagonist in the Ming Dynasty was consuming bucket fried chicken.

 

Regarding this problem, Dr. Li believes that indirect advertisements should only be made under three considerations: First, is it necessary? Second, will the audience accept it? Third, does it constitute to the commercial success of the show?

 

The bottom line is that indirect advertisements must not upset the audience. For example, people will not complain if they see a protagonist in a modern show working in 7-11 or drinking Heineken beer. As advertisement is an important source of income for TV broadcasts, Dr. Li hopes that the industry could be more professional.

 

An era of solitude

We are living in a digital age, where technological advancements have allowed us to communicate beyond the barrier of space and time. However, this has also reduced interpersonal interactions in real life. As we are entering an era of solitude, Dr. Li believes that there will be the following changes in the market.

 

In terms of human behaviors, Dr. Li believes that the lack of face-to-face communication could save up a lot of time and make communication more efficient. With more time saved, people would have more time to learn, receive, and disseminate new information. Dr. Li is optimistic that as people could work more efficiently as a unit on their own, it will be conducive to the world’s development and innovation.

 

On the other hand, market demand for a better evaluation system increase. As people are spending more time online, the time they are exposed to internet news will also increase. Therefore, a good evaluation system is necessary to fight off fake news and accredit the truth. Likewise, demand for personal information protection will also increase, as we are leaving more and more footprints on different websites and social media platforms.

 

While the era of solitude harbors opportunities to mankind, it also brings detrimental effects to our society. For example, the presentation skills of people may be weakened as the era of solitude allows people to isolate themselves and avoid verbal expressions. Speaking is an art that requires practice to perfect. Thinking about the words in your mind is different from saying it out. Being speechless and replying only in single words will cause one to stutter and have difficulties in organizing fluent and reasonable speech patterns in real-time. Unable to convey yourself effectively can also lead to embarrassing encounters, damaging one’s confidence and creating a vicious cycle that forces one to speak even less. This may explain why a lot of university students can only conduct their presentations looking at a fully-written Q card and are being quiet during group discussions. The emergence of a generation that cannot even speak confidently and effectively is detrimental to the competitiveness of our city. Moreover, an era of solitude also implies that interaction among people will also decrease, making it more difficult to cultivate good interpersonal skills. This is one of the reasons why the young generation is often considered to be rude, self-centered, and are unable to get along with each other.

 

The cocktail of low self-esteem, poor presentation skills, and weak social skills has resulted in anti-social communities such as the Incels (the Involuntarily Celebrated). The Incels is a community of young males in North America. Members are usually unemployed or are barely able to make ends meet. They are characterized by extremely low self-esteem, especially in romantic relationships. Although most are just whining about their misfortune and are acting as violent misogynists on the internet, their worshiping of Elliot Rodger, (A 22-year-old Incel who killed seven and injured 14 before committing suicide in 2014), has risen a red flag. It is an established fact that most of the Incels are victims of depression and anxiety but that does not justify their cynical world view and twisted values.

 

While groups like the Incels are branded as the minority, as the era of solitude goes on, the demand for related rehabilitation serves may increase to salvage our future generation. Dr. Li believes that it is also likely that enterprises may have to purchase more ice-breaking and team-building services in order to develop social skills among staff.

 

Way forward

Joining HKU, Dr. Li is ready to dedicate herself to pedagogy. As a passionate teacher, Dr, Li will try her best to offer the most detailed career advice and academic guidance to her students. She concludes her aspiration in HKU by the following sentence:

 

“Make me more knowledge and make my students enjoy themselves to be knowledgeable”

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