On November 28, 2023, the Faculty of Finance at City University of Macau successfully hosted a collaborative academic conference with Sun Yat-sen University. Professor Adrian Cheung, Dean of Faculty of Finance at City University of Macau, along with Associate Dean Professor Eva Khong, and Professor Yonghong Zhou, Director of the Ph.D. Program, attended the conference alongside other faculty members and students.
At the outset of the conference, Dean Adrian Cheung extended a warm welcome to the experts from Sun Yat-sen University and presented commemorative souvenirs. Associate Professor Jing Xu from Sun Yat-sen University's International School of Business and Finance expressed gratitude for the sincere invitation and conveyed a desire to enhance mutual exchange and collaboration between the two institutions.
The first session, chaired by Assistant Professor Lin Deng from City University's Faculty of Finance, featured a presentation by Assistant Professor Weiping Li from Sun Yat-sen University on "Breathing in the Consequences: Air Pollution’s Impact on Firm’s Maturity Mismatch." The study explored how air pollution influences corporate investment behavior and decision-making, revealing that regions with severe air pollution experience fewer short-term loans and longer-term investments by companies. Following this, Assistant Professor Di Li from the Faculty of Finance presented "Green/Technology Asset Linkage Dynamics and Their Determinants," focusing on the dynamic conditional correlation between U.S. green bonds and clean energy companies, and the determining factors of this dynamic correlation.
The second session, chaired by Associate Professor Jing Xu from Sun Yat-sen University, featured a presentation by Distinguished Associate Research Fellow Jiancheng Wang on "Clan Culture and E-commerce Development." This research, based on genealogical data at the urban level and data provided by a large e-commerce platform, used instrumental variable methods to understand the factors driving the rapid development of China's e-commerce from the perspective of clan culture. The study highlighted clan culture as a significant factor propelling the rapid development of e-commerce in China. Following this, Assistant Professor Junyi Hua from the Faculty of Finance presented "The Impacts of Agricultural Land Markets and Climate Change on Urban Development," which examines the importance of the interaction between agricultural land and urban policies in the face of climate change challenges.
The third session, chaired by Assistant Professor Qian Li from Sun Yat-sen University, featured a presentation by Assistant Professor Shanzhong Du on "Robot Adoption of Family Firms: The Role of the Allocation of Family Directors." The study indicated that non-executive family directors can promote the adoption of robots and are influenced by founder control and ownership asymmetry. Finally, Assistant Professor Yun Ling from the Faculty of Finance at City University shared insights from "Beyond Returns: the Impact of Price Path Convexity on Mutual Fund Flows," suggesting that price path convexity influences the perceptions and decisions of mutual fund investors.
The conference provided a rich and profound exchange of ideas, serving as a platform for learning and knowledge-sharing. Attendees, including faculty members and students, engaged earnestly in extracting the essence of the presentations, further broadening their academic perspectives.