2017 - 2018 Tsinghua SEM 01

School of and 2017-2018 Tsinghua SEM 2017 - 2018 Contents

01 Deans’ Messages

02 Tsinghua Overview

03 Tsinghua SEM Overview

03 Organizational Structure 04 Milestones 06 The Advisory Board

08 Faculty

09 Department of 11 Department of Economics 16 Department of Finance 20 Department of , Entrepreneurship and Strategy 23 Department of and Organization Management 26 Department of Management Science and Engineering 30 Department of Marketing

34 Programs 35 Undergraduate Programs 37 Doctoral Programs 38 Master’s Programs 39 MBA Programs 40 EMBA Programs 42 Collaborative Degree Programs 43 Executive Education Programs 44 Tsinghua x-lab 45 Tsinghua SEM X-elerator

46 Research 46 Research Overview 47 Major Research Projects 49 Selected Papers Published on Tsinghua SEM List of International Journals in 2016 52 Journal of Economics 52 Tsinghua Business Review 52 China Business Case Center 53 Research Support

54 International Collaborations

56 Alumni

57 Resource Development 2017 - 2018 Tsinghua SEM Deans’ Messages 01

Deans’ Messages

Building socialism with Chinese characteristics requires many talented people in economics and management who understand both the general rules of the market economy and the particular circumstances of Chinese enterprises. Tsinghua University School of Economics and Management should learn from all the great schools of economics and management around the world and adopt their teaching contents, methods and tools and apply them to the Chinese situation. Let us work together toward the goal of building a world-class school Professor ZHU Rongji of economics and management. Founding Dean (1984-2001) February 22,1994

For over twenty years Tsinghua University School of Economics and Management has been growing fast along with the reform, opening-up and development of the Chinese economy. Today we continue to strive for building a world-class school of economics and management. The School benefits from the synergy of bringing two academic disciplines of economics and management into one institution. The School is committed to the excellence of both research and teaching for the purpose of advancing knowledge and cultivating leaders. The School cherishes ideas and theories, and at the same time values practical solutions and Professor QIAN Yingyi actions. The School combines China roots with global reach, and Dean works to contribute to the development of China's economy and ( 2006- ) society as well as to make an impact in the world.

October 21, 2006 Tsinghua SEM 2017 - 2018 02 Tsinghua Overview

Tsinghua Overview

Establishing Year Faculty and Staff Faculty 1911 14,015 3,414 Schools Departments Members of the Chinese Members of the Chinese Academy of Sciences Academy of Engineering 20 57 45 33

Registered Students ＊ International Students ＊ Hong Kong, Macao and Taiwan Students ＊ 47,201 2,720 596 Undergraduate Students ＊ Master’s Students ＊ Doctoral Students ＊ 15,570 19,311 12,320

Undergraduate Second Degree Library Collection (thousand volume) Programs＊ Undergraduate Programs ＊ 78 14 5,027

Doctoral and Master’s Programs ＊ Campus Area (hectare) 65 450

＊Including data from Peking Union Medical College, Tsinghua University 1. Data as of December 31, 2016. 2. Data source: Tsinghua University official website. 2017 - 2018 Tsinghua SEM Tsinghua SEM Overview 03

Tsinghua SEM Overview

Organizational Structure

Departments Program Offices Education and Research Services • Accounting • Academic Affairs Office

• Economics • Master's Programs Office • Library • Finance • MBA Programs • Tsinghua SEM China Business Case Center • Innovation, Entrepreneurshipand Strategy • EMBA Programs • Online Education Office • Leadership and Organization Management • Executive Education • Management Science and Engineering • Tsinghua x-lab • Marketing • Tsinghua SEM X-elerator

Research Centers Administrative Offices

• National Center for Economic Research • Research Center for China's Industrial • Dean's Office • Research Center for Technological Development • Faculty Development Office Innovation • Research Center for Green Economy and • Research Affairs Office • China Business Research Center Sustainable Development • Staff Human Resources Office • National Entrepreneurship Research Center • Center for Globalization of Chinese • Accounting Office Enterprises • Research Center for Contemporary • IT/IS Office • Center for Development of Sports Industry Management • Logistic Office • Institute for Industrial Innovation and • China Center for Financial Research • Career Development Center Finance • Center for China in the World Economy • Alumni Center • Institute of Internet Industry • China Retail Research Center • Resource Development Office • Entrepreneurship Research Center on G20 • National Institute of Fiscal Studies • International Office Economies • China Center for Insurance and Risk • Marketing and Communications Office Management • Center for Internet Development and Governance • Facilities Planning and Construction Office • Center for Leadership Development and Research • China Research Center for Enterprise M&A and Development • Research Center for Healthcare CPC Offices Management • Research Center for Non-performing Assets • Institute for Global Private Equity • Tsinghua China Data Center • CPC Committee Office • The Chinese University of Hong Kong- • Center for Corporate Governance • Undergraduate Student Affairs Office Tsinghua University Joint Research Center • Center for Enterprise Growth and National for Chinese Economy • Graduate Student Affairs Office Economic Security Research • Institute for Global Industry • Center for International Economic Research • Institute for Cultural Economy • Center for China-Latin America Management Studies Tsinghua SEM 2017 - 2018 04 Tsinghua SEM Overview

Milestones

1926 1986 2001 • Department of Economics established with • Tsinghua SEM accredited to grant doctoral • ZHAO Chunjun became the second Dean ZHU Binyuan as Chair degrees in Systems Engineering and of Tsinghua SEM Technical Economics • Management Science and Engineering, • Old SEM Building completed and put into use Technical Economics and Management, 1928 and Econometrics named National Priority • CHEN Daisun appointed as Chair of Disciplines Department of Economics 1991 • Tsinghua SEM partnered with Harvard to launch the Tsinghua- • MBA program launched Harvard executive education program 1952 • Department of Economics merged into 1994 2002 other universities under nationwide • Tsinghua SEM celebrated its 10th • EMBA program launched university restructuring anniversary, and Dean ZHU Rongji remarked: “If each of you runs an • Shunde Building, funded by a contribution enterprise successfully, there will be a from Mr. S.T. Wu, was completed and put into use great hope for China's economy” 1979 • Special-Term Professorship program • Department of Economics and launched Management Engineering established with DONG Xinbao as Chair and FU Jiaji as 1997 Vice Chair • Tsinghua SEM relocated to new facilities 2003 • Master’s in Management Engineering in the Weilun Building, donated by Mr. and • Tsinghua SEM accredited to grant doctoral program began Mrs. Quo-Wei Lee degrees in Political Economy • International MBA program in collaboration with MIT Sloan School of Management launched 1980 2004 • Undergraduate program began • Tsinghua SEM celebrated its 20th 1998 anniversary • Department of Enterprise Management • Tsinghua SEM accredited to grant doctoral 1981 divided into Department of Human degrees in Econometrics and Enterprise • Executive education program for high-level Resources, Department of Marketing and Management managers of enterprises began Department of Business Strategy and Policy

2000 2005 • The Advisory Board established with ZHU 1984 • Tsinghua University Executive Vice- Rongji as Honorary Chairman • Tsinghua University School of Economics President HE Jiankun became the third and Management (Tsinghua SEM) established • Tsinghua SEM accredited to grant doctoral Dean of Tsinghua SEM with ZHU Rongji as founding dean degrees in Business Administration 2017 - 2018 Tsinghua SEM Tsinghua SEM Overview 05

• MBA education reform won the first prize 2006 2011 of Chinese society of academic degrees • QIAN Yingyi became the fourth Dean of • Tsinghua Business Review launched and graduate education achievement Tsinghua SEM • Founding Dean ZHU Rongji returned to award • Tsinghua SEM accredited to grant doctoral SEM upon Tsinghua centennial celebration degrees in Theoretical Economics and • Master’s in Management (MiM) program Applied Economics and Master’s in Finance program began 2015 • Doctoral programs restructured with • The second degree undergraduate • Tsinghua-Columbia dual degree Master’s admissions by department program in Economics began program in business analytics launched • Tsinghua SEM X-elerator launched • The Tsinghua-INSEAD dual degree 2007 2012 EMBA program ranked first globally in the Financial Times EMBA ranking, first time • Tsinghua SEM obtained AACSB • The faculty tenure-track system for a mainland Chinese business school accreditation implemented • Management Science and Engineering, • All new EMBA curriculum launched Business Administration, and 2016 Econometrics named National Priority th Disciplines 2013 • Celebration held for the 90 anniversary of the Department of Economics • The Tsinghua-INSEAD dual degree EMBA • Department of Innovation, • The exhibition on Professor CHEN Daisun program began Entrepreneurship and Strategy established opened • Tsinghua x-lab launched • The exhibition on Professor ZHAO Jiahe • The second degree undergraduate opened program in Management resumed 2008 • A new course ZHU Rongji Economic and • MBA+X dual-degree program launched • Tsinghua SEM accredited under EQUIS Management Theory and Practice launched • Tsinghua SEM Entrepreneur Fellows • Executive Management Training (EMT) Program launched launched 2009 • New undergraduate curriculum launched 2014 • New MBA curriculum launched 2017 • Undergraduate admissions reform • A new course Innovation and experiment initiated Entrepreneurship: Insights from Silicon 2010 • China Journal of Economics launched Valley launched in collaboration with th • MBA admissions reform initiated • Tsinghua SEM celebrated its 30 Facebook • Master’s in Professional Accounting anniversary • Tsinghua SEM maintained AACSB program launched • Tsinghua SEM Alumni Association founded Business Accreditation • Master’s programs reform initiated, and • Tsinghua-MIT Global MBA program in • Management Science and Engineering, Master’s in Management (MiM) program collaboration with MIT Sloan School of Business Administration, Accounting and initiated, first in China Management launched Finance, Economics and Econometrics • Undergraduate education reform won included on the national list of developing the first prize of China national education world-class disciplines achievement award Tsinghua SEM 2017 - 2018 06 Tsinghua SEM Overview

The Advisory Board

The Advisory Board of Tsinghua University School of Economics and Management was founded in October 2000.

Honorary Chairman Members

ZHU Rongji Mary T. Barra Founding Dean, School of Economics and Chairman and CEO, General Motors Company William E. Ford Management, Tsinghua University (1984-2001) CEO, General Atlantic LLC Premier, State Council, People’s Republic of China Dominic Barton (1998-2003) Global Managing Partner, McKinsey & Company Victor K. Fung Group Chairman, Fung Group Honorary Members Lloyd C. Blankfein Honorary Chairman, Li & Fung Limited Chairman and CEO, The Goldman Sachs Group, Inc. Lord Browne of Madingley Christopher B. Galvin Carlos Brito Chairman, CEO and Co-Founder, Harrison Street Executive Chairman, L1 Energy (UK) LLP CEO, Anheuser-Busch InBev Capital LLC Chairman, Huawei Technologies (UK) Ltd. Former Chairman and CEO, Motorola Inc. Former Group Chief Executive, BP PLC CHANG Zhenming Chairman, CITIC Group Geoffrey Garrett Henry M. Paulson, Jr. Dean, The Wharton School of the University of Chairman, Paulson Institute Pennsylvania Former U.S. Secretary of the Treasury CHEN Jining Reliance Professor of Management and Private Former Chairman and CEO, The Goldman Sachs Acting Mayor, Beijing Municipal Government Enterprise, Professor of Political Science Group, Inc. Former Minister, Ministry of Environmental Protection, People’s Republic of China Former President, Tsinghua University Carlos Ghosn H. Lee Scott, Jr. Chairman and CEO, Renault-Nissan-Mitsubishi Chairman, Business Advisory Board for BDT Capital Former President and CEO, Wal-Mart Stores, Inc. CHEN Yuan Vice Chairperson, The 12th National Committee Terry Gou of the Chinese People’s Political Consultative Founder and CEO, Foxconn Technology Group WANG Qishan Conference (CPPCC) Member, Standing Committee of Political Bureau Former Chairman, China Development Bank of the 18th CPC Central Committee Mario Greco Former Secretary, CPC Central Commission for CEO, Zurich Insurance Group Discipline Inspection Tim Cook CEO, Apple Maurice R. Greenberg Chairman, Starr Companies Michael L. Corbat Former Chairman and CEO, AIG Chairman CEO, Citigroup Inc. GU Binglin Jim Breyer Michael Dell Director, Institute for Advanced Study, Tsinghua Founder and CEO, Breyer Capital Chairman and CEO, Dell Technologies University Former President, Tsinghua University Jamie Dimon Vice Chairman Chairman and CEO, JPMorgan Chase & Co. GUO Shuqing Chairman, China Banking Regulatory Commission QIU Yong Robert Dudley Former Governor, Province President, Tsinghua University Group Chief Executive, BP PLC HO Ching Denis Duverne CEO, Temasek Holdings Private Limited Non-Executive Chairman, AXA 2017 - 2018 Tsinghua SEM Tsinghua SEM Overview 07

Nobuyuki Idei LOU Jiwei David C. Schmittlein Founder and CEO, Quantum Leaps Corporation Chairman, National Council for Social Security Fund John C Head III Dean, MIT Sloan School of Management Former Chairman and Group CEO, Sony Corporation Former Minister, Ministry of Finance, People’s Republic of China Stephen A. Schwarzman Irwin Mark Jacobs Chairman, CEO and Co-Founder, Blackstone Founding Chairman and CEO Emeritus, Qualcomm Andrónico Luksic Chairman, Luksic Group Risto K. Siilasmaa Muhtar Kent Chairman, Nokia Corporation Chairman, The Coca-Cola Company Jack Ma Chairman and Founder, F-Secure Corporation Executive Chairman, Alibaba Group Henry R. Kravis Masayoshi Son Co-Chairman and Co-Chief Executive Officer, KKR MA Kai Chairman & CEO, SoftBank Group Corp. Member, Political Bureau of the 18th CPC Central Harald Krüger Committee A. Michael Spence Chairman of the Board of Management, BMW AG Vice Premier, State Council, People’s Republic Professor, Stern School of Business, New York of China University Jonathan D. Levin 2001 Nobel Laureate in Economics Philip H. Knight Professor and Dean, Stanford Pony Ma Graduate School of Business Core Founder, Chairman of the Board and CEO, Ratan N. Tata Tencent Chairman Emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals Richard C. Levin Former CEO, Coursera Eric S. Maskin Former President, Yale University Adams University Professor, Harvard University John L. Thornton 2007 Nobel Laureate in Economics Chairman, Barrick Gold Corporation Chairman, Board of Trustees, Brookings Institution Richard Li Chairman and Chief Executive, Pacific Century Group Doug McMillon President and CEO, Wal-Mart Stores, Inc. Ben van Beurden Chief Executive Officer, Royal Dutch Shell plc Robin Li Co-Founder, Chairman and Chief Executive Mike McNamara Officer, Baidu, Inc. CEO, Flex Jacob Wallenberg Chairman, Investor AB Elon Musk Deputy Chairman of ABB, Ericsson and SAS LI Rongrong CEO, Space Exploration Technologies (SpaceX) Former Chairman, State-Owned Assets CEO, Tesla, Inc. Supervision and Administration Commission WANG Dazhong Former President, Tsinghua University Satya Nadella LIU Chuanzhi CEO, Microsoft Chairman, Legend Holdings Corporation Marjorie Yang Founder, Lenovo Group Limited Chairman, Esquel Group Nitin Nohria LIU He Dean, ZHAO Chunjun Former Dean, School of Economics and Member, Political Bureau of CPC Central Committee Management, Tsinghua University Minister, Office of the Central Leading Group on Indra K. Nooyi Financial and Economic Affairs Chairman and CEO, PepsiCo ZHOU Xiaochuan th LIU Mingkang Brian L. Roberts Vice Chairperson, The 12 National Committee of the Chinese People’s Political Consultative Conference Former Chairman, China Banking Regulatory Chairman and CEO, Comcast NBCUniversal (CPPCC) Commission Ginni Rometty Governor, People’s Bank of China LIU Shiyu Chairman, President and CEO, IBM Chairman, China Securities Regulatory Mark Zuckerberg Commission (CSRC) David M. Rubenstein Founder and CEO, Facebook Secretary, The CPC Committee of CSRC Co-Founder and Co-CEO, The Carlyle Group Tsinghua SEM 2017 - 2018 08 Faculty

Faculty

Tsinghua SEM has 161 full-time faculty members and 30 visiting faculty during the current academic year. Among full-time faculty, 157 have Ph.D. degrees. Three are “Thousand Talents Program” Professors; nine are Chang Jiang Scholars; eight are recipients of the China National Science Foundation’s Distinguished Young Scholars Funds. Tsinghua SEM also has Honorary Professors and Adjunct Professors. 2017 - 2018 Tsinghua SEM Faculty 09

DU Shengli Associate Professor

Department of Accounting • Bachelor, 1984, Bayi Agricultural University • Ph.D., 1997, Renmin University of China Research Areas Management Control and Performance Evaluation, Capital Management and Corporate Finance, Financial Governance and Financial Ethics, Group Company and Finance Company, State-Owned Assets and State-Owned Enterprises

CHEN Guanting HAO Zhenping Associate Professor Professor

• Bachelor, 1985, Renmin University of China • Bachelor, 1982, Tianjin University of • Master, 1989, Renmin University of China Finance and Economics • Ph.D., 1997, Renmin University of China • Master, 1987, Tianjin University of Finance and Economics Research Areas • Ph.D., 1992, Tianjin University of Finance Corporate Internal Control and Risk and Economics Management, Auditing Theory and Practices, Taxation and Tax Planning Research Areas Auditing Theories and Practices, Corporate Governance and Internal Control, Financial Accounting Theories and Practices, Multi- National Corporations and International Accounting

CHEN Wuzhao JIA Ning Associate Professor Associate Professor

• Bachelor, 1992, Zhongnan University of • Bachelor, 2002, University of Minnesota Finance and Economics • Master, 2004, Stanford University • Master, 1995, Research Institute for Fiscal • Ph.D., 2007, Stanford University Science, Ministry of Finance • Ph.D., 2004, Tsinghua University Research Areas Private Equity and Venture Capital, Research Areas Entrepreneurial Finance and Growth of Accounting and Capital Market, Corporate Startup Companies, Accounting Information Governance, Auditing, Corporate Internal and Capital Markets Control and Risk Management, Financial Statement Analysis

CHEN Xiao LI Dan Professor Associate Professor

• Bachelor, 1983, Wuhan Institute of • Bachelor, 2001, Beijing Institute of Technology Chemical Engineering • Ph.D., 2007, Georgia Institute of Technology • Master, 1989, University of Science and Technology of China Research Areas • Ph.D., 1996, Tulane University Financial Accounting, Enterprise IPOs, Audit Quality, Internal Controls Research Areas Accounting and Capital Market, Corporate Governance, International Taxation, Taxation and Business Strategy, Business Valuation Tsinghua SEM 2017 - 2018 10 Faculty

LUO Mei XIA Donglin Associate Professor Professor

• Bachelor, 1998, Tsinghua University • Bachelor, 1984, Jiangxi Institute of • Ph.D., 2004, University of California, Finance and Economics Berkeley • Master, 1990, Research Institute for Fiscal Science, Ministry of Finance Research Areas • Ph.D., 1994, Research Institute for Financial Accounting and Capital Market, Fiscal Science, Ministry of Finance Financial Statement Analysis and Equity Valuation, Earnings Management, Securities Research Areas Market Regulation Financial Reporting and Corporate Governance, Accounting Standards, Comparative Accounting

LUO Ting XIAO Xing Associate Professor Professor, Chair

• Bachelor, 1997, Peking University • Bachelor, 1994, Tsinghua University • Ph.D., 2007, University of • Master, 1997, Tsinghua University Wisconsin-Madison • Ph.D., 2004, Tsinghua University

Research Areas Research Areas Management Motivation, Information Corporate Finance, Corporate Disclosure, Financial Report, Governance, Financial Statement Operation Strategy Analysis, Financial Accounting

QIAN Ping XIE Deren Associate Professor Professor

• Bachelor, 1992, Sichuan University • Bachelor, 1993, • Master, 1995, Sichuan University • Ph.D., 1998, Xiamen University • Ph.D., 1998, Peking University Research Areas Research Areas Accounting and Interdisciplinary Study on Financial Information and Capital Market, Accounting, New Institutional Financial Information and Management Economics and the Theory of the Firm, Control, Financial Fraud Investigation, Accounting Standards, Corporate Venture Capital Governance and Executive Incentive, Regulation of CPA Industry

WANG Kun XUE Jian Associate Professor Associate Professor

• Bachelor, 1998, • Bachelor, 1998, Tsinghua University • Ph.D., 2003, Hong Kong University of • Master, 2000, Tsinghua University Science and Technology • Ph.D., 2006, Carnegie Mellon University

Research Areas Corporate Governance, Financial Accounting, Research Areas Audit Quality Financial Accounting, Role of Information in Financial Markets, Financial Analyst Behavior, Corporate Governance 2017 - 2018 Tsinghua SEM Faculty 11

YU Zengbiao Professor CHENG Qiang Distinguished Visiting Professor • Bachelor, 1982, Hebei University Lee Kong Chian Chair Professor of Accounting, • Ph.D., 1993, Xiamen University Management University Research Areas Management Accounting, Behavioral Research Areas Accounting, Design for Strategy Corporate Governance, CEO Compensation, Corporate Management Control Mechanisms, Disclosure, Earnings Management/Restatement, Family Firms Accounting Education

ZHANG Haiyan Associate Professor

• Bachelor, 1994, Tsinghua University Department of Economics • Master, 1997, Tsinghua University • Ph.D., 2005, Hong Kong University of Science and Technology

Research Areas Accounting Information and Corporate Governance, Managerial Accounting, Auditing

ZHOU Li BAI Chong-en Research Fellow Mansfield Freeman Chair Professor, Executive Associate Dean

• Bachelor, 1988, Southeast University • Master, 1991, Southeast University • Bachelor, 1983, University of Science and • Ph.D., 2002, Tsinghua University Technology of China • Ph.D., 1988, University of California, Research Areas San Diego Accounting, Public Policy, Research Policy • Ph.D., 1993, Harvard University

Research Areas Institutional Economics, Economic Growth and Development, Public Economics, Finance, Corporate Governance and Chinese Economy

Visiting Faculty CAO Jing Associate Professor CHEN Qi • Bachelor, 1998, Peking University Distinguished Visiting Professor, Co-Chair • Master, 2001, Peking University Martin L. Black, Jr Professor, Duke University • Ph.D., 2007, Harvard University Research Areas Research Areas Energy and Environmental Economics, Role of Information in Financial Markets, Corporate Finance, Economics of Climate Change, Public Corporate Governance and Incentive Mechanism, Mutual Fund Economics Behaviors, Financial Analysts Behavior Tsinghua SEM 2017 - 2018 12 Faculty

GAO Ming LI Mingzhi Assistant Professor Associate Professor

• Bachelor, 2001, Tsinghua University • Bachelor, 1987, Nankai University • Master, 2003, Tsinghua University • Master, 1990, Shanghai Jiaotong University • Ph.D., 2010, • Ph.D., 1999, the University of Texas at Austin

Research Areas Research Areas Microeconomic Theory, Industrial Industrial Organization, Electronic Commerce Organization, Behavioral Economics

GUO Meixin LIU Lingling Assistant Professor Professor

• Bachelor, 2001, Nanjing University • Bachelor, 1982, Harbin Normal University • Master, 2004, Peking University • Master, 1991, Harbin Normal University • Ph.D., 2010, University of California, Davis • Ph.D., 1996, Renmin University of China

Research Areas Research Areas International Macroeconomics/Finance, Public Finance of China, Tax Law and Tax International Trade, Applied Econometrics, System, Macroeconomics, Rural Economy and Macroeconomics Fiscal Policy, Transitional Economy and Theory of Modernization, Economic and Design of the Fiscal System

HONG Shengjie LIU Qing Assistant Professor Associate Professor

• Bachelor, 2005, Wuhan University • Bachelor, 1996, Xinjiang University of • Master, 2007, Wuhan University Finance and Economics • Ph.D., 2012, University of Wisconsin-Madison • Master, 1999, • Master, 2002, University of British Columbia Research Areas • Ph.D., 2008, University of Toronto Econometric Theory, Applied Econometrics Research Areas International Macroeconomics, Monetary Economics, Macroeconomics

LI Bing LIU Xiao Assistant Professor Associate Professor

• Bachelor, 2002, Nankai University • Bachelor, 2006, Renmin University of China • Master, 2004, University of British Columbia • Master, 2010, University of Michigan • Ph.D., 2010, Indiana University • Ph.D., 2012, University of Michigan

Research Areas Research Areas Monetary Economics, Applied Experimental and Behavioral Economics, Macroeconomics, Monetary and Fiscal Game Theory, Mechanism Design Policy Interactions, Regime Switching in Macroeconomics 2017 - 2018 Tsinghua SEM Faculty 13

LU Lin OUYANG Min Assistant Professor Associate Professor

• Bachelor, 2002, Wuhan University • Bachelor, 2000, Peking University • Master, 2005, Wuhan University • Master, 2003, University of Maryland • Ph.D., 2010, University of Minnesota • Ph.D., 2005, University of Maryland

Research Areas Research Areas International Economics, Macroeconomics, Macroeconomics, Applied Econometrics, Economic Growth and Development Industrial Organization, Labor Economics

LUO Wenlan PAN Wenqing Assistant Professor Professor

• Bachelor, 2011, Tsinghua University • Bachelor, 1987, Northwest Normal University • Ph.D., 2017, Georgetown University • Master, 1993, Lanzhou University • Ph.D., 1999, Renmin University of China Research Areas Macroeconomics, Monetary Economics, Research Areas Computational Methods Input-Output Analysis, Quantitative Economics, Regional Economics, International Economics

LU Yi QI Liangshu Professor Associate Professor

• Bachelor, 1999, Fudan University • Bachelor, 1993, Nankai University • Master, 2003, Fudan University • Master, 1996, Peking University • Ph.D., 2007, The University of Hong Kong • Ph.D., 1999, Peking University

Research Areas Research Areas International Trade, Chinese Economy Health Economics, Development Economics

MA Hong QIAN Yingyi Associate Professor Professor, Dean

• Bachelor, 2002, Fudan University • Bachelor, 1982, Tsinghua University • Master, 2004, University of California, Davis • Master, 1982, • Ph.D., 2009, University of California, Davis • Master, 1984, Yale University • Ph.D., 1990, Harvard University Research Areas International Trade, Development Economics, Research Areas International Price Comparison Comparative Economics, Institutional Economics, Economics of Transition, Chinese Economy Tsinghua SEM 2017 - 2018 14 Faculty

QIAO Xue WU Kangping Associate Professor Professor

• Bachelor, 1998, Peking University • Bachelor, 1982, Northwest University • Ph.D., 2007, Iowa State University • Master, 1985, Northwest University • Ph.D., 1989, Chinese Academy of Sciences Research Areas Macroeconomics, Political Economy Research Areas Microeconomics, Macroeconomics, Economic Growth

SHI Xinzheng XU Xianchun Associate Professor Professor

• Bachelor, 2000, Peking University • Bachelor, 1982, Liaoning University • Master, 2003, Peking University • Master, 1986, Shanghai University of • Ph.D., 2009, University of Michigan Finance and Economics • Ph.D., 1998, Peking University Research Areas Development/Transition Economics, Public Research Areas Economics, Applied Microeconomics, Chinese Government Statistics Theory Chinese Economy

Alexander C. White XU Yuan Assistant Professor Assistant Professor

• Bachelor, 2005, Columbia University • Bachelor, 2002, Fudan University • Master, 2006, Toulouse School of Economics • Ph.D., 2009, University of California, Davis • Ph.D., 2011, Toulouse School of Economics Research Areas Research Areas Macroeconomics, International Industrial Organization, Microeconomic Macroeconomics, Applied Time Series Theory, Economics of the Internet Analysis

WU Binzhen YANG Siqun Associate Professor Associate Professor

• Bachelor, 1998, Xi’an Jiaotong University • Bachelor, 1986, Renmin University of China • Master, 2001, Peking University • Master, 1989, Chinese Academy of Social • Ph.D., 2006, University of Wisconsin-Madison Sciences • Ph.D., 1998, Chinese Academy of Social Research Areas Sciences Public Economics, Applied Micro, Economics of Education Research Areas Economic Analysis of Investment and Consumption, Theory of Security Investment 2017 - 2018 Tsinghua SEM Faculty 15

YAO Wen Visiting Faculty Assistant Professor CHEN Yan • Bachelor, 2006, Fudan University • Bachelor, 2006, University of Birmingham Distinguished Visiting Professor • Ph.D., 2011, University of Pennsylvania Daniel Kahneman Collegiate Professor of Information, University of Michigan Research Areas Macroeconomics, International Finance, Research Areas Computational Economics Experimental Economics, Mechanism Design, Information Economics

ZHENG Jie Assistant Professor LI Hongbin

Distinguished Visiting Professor • Bachelor, 2003, Tsinghua University • Master, 2005, Tsinghua University Senior Fellow, Stanford Institute for Economic • Master, 2007, Washington University in St. Louis Policy Research • Ph.D., 2011, Washington University in St. Louis Research Areas Research Areas Development Economics, Labor Economics, Microeconomic Theory, Industrial Organization, Transition Economics, Chinese Economy Mathematical Economics, Financial Economics, Experimental Economics

ZHONG Xiaohan Associate Professor, Chair SONG Zheng

Distinguished Visiting Professor • Bachelor, 1994, Tsinghua University • Master/Ph.D., 1999, Tsinghua University Professor, The Chinese University of Hong Kong

Research Areas Research Areas Mechanism Design, Applied Microeconomics, Macroeconomics, Chinese Economy, Political Chinese Economy Economy

ZHU Lin Assistant Professor WEN Yi

Distinguished Visiting Professor • Bachelor, 2004, University of Science and Technology of China Assistant Vice President, Federal Reserve • Master, 2006, Indiana University, Bloomington Bank of St. Louis, USA • Ph.D., 2012, Indiana University, Bloomington Research Areas Research Areas Macroeconomics, Monetary Policy, Economic Set Inference for Partially Identified Models, Growth and Development Semiparametric/Nonparametric Estimation and Testing of Econometric Models, Time Series Econometrics Tsinghua SEM 2017 - 2018 16 Faculty

ZHA Tao Distinguished Visiting Professor Department of Finance Samuel Candler Dobbs Professor of Economics, Emory University

Research Areas Macroeconomics, Financial Economics

Group of Mr. and Mrs. Tien Oung Liu Distinguished Visiting Chair Professor CHEN Bingzheng in Economics Professor Chang Tai Hsieh Phyllis and Irwin Winkelried Professor of • Bachelor, 1982, University of Science and Technology of China Economics, The University of Chicago • Master, 1985, Renmin University of China Torsten Erik Persson • Ph.D., 1995, Tsinghua University Professor, Stockholm University Research Areas Risk Management and Insurance, Gerard Roland Enterprises Risk Management, Pension, E. Morris Cox Professor of Economics and Insurance-Linked Securitization Professor of Political Science, University of California, Berkeley Kjetil Storesletten Professor, University of Oslo CHEN Taotao Aleh Tsyvinski Professor Arthur M. Okun Professor of Economics, Yale University • Bachelor, 1988, Tsinghua University Fabrizio Zilibotti • Master, 1991, Research Institute for Fiscal Science, Ministry of Finance Tuntex Professor of International and • Ph.D., 2003, Tsinghua University Development Ecomomics, Yale University Research Areas FDI Spillovers, Outward FDI From Emerging Market, Globalization and Strategy, International Economics and Management, Corporate Finance, Business Valuation Group of AXA Visiting Professor in and Valuation of Intangibles International Finance BAI Yan Associate Professor, University of Rochester CHEN Yunling SHI Kang Assistant Professor Associate Professor, The Chinese University Hong Kong • Bachelor, 2002, Fudan University XU Juanyi • Ph.D., 2010, Hong Kong University of Science and Technology Associate Professor, The Hong Kong University of Science and Technology Research Areas Corporate Finance, Financial Market, YUE Zhanwei Vivian Corporate Governance Associate Professor, Emory University 2017 - 2018 Tsinghua SEM Faculty 17

DENG Yinglu JIANG Lei Assistant Professor Assistant Professor

• Bachelor, 2004, Peking University • Bachelor, 2003, Harbin Institute of Technology • Master, 2006, Peking University • Master, 2005, Harbin Institute of Technology • Master, 2010, University of Texas at Austin • Master, 2006, University of Virginia • Ph.D., 2011, University of Texas at Austin • Ph.D., 2011, Emory University

Research Areas Research Areas Empirical Asset Pricing, Stock Market Asset Pricing, Quantitative Finance, Microstructure Risk Management, Insurance and Financial Innovation

GAO Feng Hoan Soo Lee Associate Professor Assistant Professor

• Bachelor, 1999, Tsinghua University • Bachelor, 2008, University of California, • Ph.D., 2006, Tsinghua University Berkeley • Master, 2011, Harvard University Research Areas • Ph.D., 2013, Harvard University Financial Econometrics, Asset Pricing, Risk Management Research Areas Corporate Finance, Venture Capital and Private Equity, Entrepreneurial Finance and Contract Theory

HE Ping LI Daokui Professor Mansfield Freeman Chair Professor

• Bachelor, 1997, Tsinghua University • Bachelor, 1985, Tsinghua University • Master, 2002, University of Pennsylvania • Ph.D., 1992, Harvard University • Ph.D., 2004, University of Pennsylvania Research Areas Research Areas Macroeconomics, International Economics, Financial Institutions, Monetary Economics, Chinese Economy, Economic History Macro-Finance

HUANG Zhangkai LI Jinliang Associate Professor Associate Professor

• Bachelor, 1998, Guangdong University of • Bachelor, 1997, Tsinghua University Foreign Studies • Ph.D., 2001, Syracuse University • Master, 1999, University of Essex • Ph.D., 2003, University of Oxford Research Areas Financial Markets, Entrepreneurial Finance, Research Areas Investments Corporate Finance, Law and Finance, Political Economy Tsinghua SEM 2017 - 2018 18 Faculty

LI Minwen Michael R. Powers Assistant Professor Zurich Insurance Group Chair Professor

• Bachelor, 1997, Peking University • Master, 1999, Tsinghua University • Bachelor, 1982, Yale University • Ph.D., 2010, University of Maryland • Master, 1982, Yale University • Ph.D., 1987, Harvard University Research Areas Corporate Finance, Financial Development, Research Areas Corporate Governance, Board Composition, Government Regulation and Public Policy, CEO Turnover and Compensation Applications of Game Theory in Risk and Insurance, Mathematical Models in Enterprise Risk Management, Tax Treatment of Risk Transfers

LIU Chun SHEN Tao Associate Professor Assistant Professor

• Bachelor, 1999, Tsinghua University • Bachelor, 2006, Nankai University • Master, 2001, Tsinghua University • Master, 2008, Georgia Institute of Technology • Ph.D., 2007, University of Toronto • Ph.D., 2013, University of Minnesota

Research Areas Research Areas Corporate Investment, Credit Risks, Corporate Financial Econometrics, Financial Market, Merger and Acquisition Risk Management

LU Yao WANG Guiqin Associate Professor Associate Professor

• Bachelor, 2000, Central University of Finance • Bachelor, 1986, Dalian Foreign Languages and Economics Institute • Master, 2003, • Master, 1989, Tsinghua University • Ph.D., 2009, University of Michigan • Ph.D., 2014, University of Electronic Science and Technology of China Research Areas Corporate Finance, Corporate Governance, Research Areas Capital Market Development and Financial Services Marketing, Strategic Internationalization, Law and Finance Corporate Communication, Negotiations

PANG Jiaren WANG Hao Associate Professor Associate Professor, Vice Chair

• Bachelor, 2000, Peking University • Master, 2004, Vanderbilt University • Bachelor, 1995, Shenyang University of • Ph.D., 2007, Washington University in St. Louis Technology • MBA, 2000, Eastern Illinois University Research Areas • Ph.D., 2007, McGill University Corporate Finance, Corporate Governance, Mergers and Acquisitions, Capital Markets Research Areas Credit Risk, Fixed Income, Corporate Finance 2017 - 2018 Tsinghua SEM Faculty 19

WANG Jun ZHANG Taowei Associate Professor Associate Professor

• Bachelor, 1995, Northern Jiaotong University • Bachelor, 1984, Tsinghua University • Master, 1998, Peking University • Master, 1987, Tsinghua University • Ph.D., 2008, Tsinghua University • Ph.D., 2000, Tsinghua University

Research Areas Research Areas Insurance Economics, Risk Management, Financial Engineering (Financial Corporate Finance Derivatives Development, Financial Risk Management), Investment Banking (Private Equity, M&A), International Finance, RMB Exchange Rate, Corporate Governance, Incentive and Restriction Mechanism

WANG Yintian ZHAO Dongqing Associate Professor Associate Professor

• Bachelor, 1998, Xi’an Jiaotong University • Bachelor, 1994, Tsinghua University • Master, 2000, Queen’s University • Master, 1997, Tsinghua University • Ph.D., 2006, McGill University • Ph.D., 2006, Tsinghua University

Research Areas Research Areas Derivatives, Econometric Modeling, Risk Corporate Finance Management

YANG Zhishu ZHU Wuxiang Professor, Chair Professor

• Bachelor, 1988, Harbin Institute of Technology • Bachelor, 1987, Tsinghua University • Master, 1995, Tsinghua University • Master, 1989, Tsinghua University • Ph.D., 2001, Tsinghua University • Ph.D., 2002, Tsinghua University

Research Areas Research Areas Financial Market Microstructure, Behavioral Corporate Finance, Industry Finance, Finance, Corporate Finance, Banking and Business Model Financial Institutions, Econometrics of Financial Markets

ZHANG Lihong ZHU Yingzi Professor, Vice Chair Professor

• Bachelor, 1988, Nankai University • Bachelor, 1991, University of Science and • Master, 1991, Nankai University Technology of China • Ph.D., 1999, Chinese Academy of Sciences • Master, 1993, New York University • Ph.D, 1997, New York University Research Areas • MBA, 2002, New York University Theory of Asset Pricing, Portfolio Management, Stochastic Calculus, Risk Research Areas Theory and Risk Management Asset Pricing, Investment, Asset Allocation and Investment Strategy Tsinghua SEM 2017 - 2018 20 Faculty

ZHU Yujie CHEN Jin Professor Professor

• Bachelor, 1992, Tsinghua University • Bachelor, 1989, Zhejiang University • Master, 1994, Tsinghua University • Ph.D., 1994, Zhejiang University • Ph.D., 2005, Tsinghua University Research Areas Research Areas Managing Technological Innovation, Business Asset Pricing, Investment, Asset Administration Allocation and Investment Strategy

Visiting Faculty CHENG Yuan Associate Professor Niall Ferguson • Bachelor, 1991, Huazhong University of Distinguished Visiting Professor Science and Technology Senior Fellow, Hoover Institution at Stanford • Master, 1996, Huazhong University of Science and Technology • Ph.D., 2000, Tsinghua University Research Areas American and British Imperial History, Economic History, Research Areas Economic Organization in History Management of Innovation, Technology Strategy, New Business Development, Entrepreneurship

DUAN Zhirong Assistant Professor HE Zhiguo

Special-Term Professor, Co-Chair • Bachelor, 1994, Tsinghua University Professor, The University of Chicago • Master, 1997, Tsinghua University • Ph.D., 2007, Tsinghua University • Ph.D., 2011, University of New South Wales Research Areas Banking and Corporate Finance, Financial Markets and Crisis, Research Areas Contract Theory Marketing System (Assortments, Evolutionary Systems), Internationalization Strategy of Firms, Strategic Corporate Sustainable Development, Women Entrepreneurs

GAO Jian Professor, Secretary of CPC Department of Innovation, Committee

Entrepreneurship and • Bachelor, 1984, Chongqing Institute of Architecture Engineering Strategy • Master, 1987, Chongqing Institute of Architecture Engineering • Ph.D., 1996, Tsinghua University

Research Areas Venture Capital, Entrepreneurial Finance, Entrepreneurship, Innovation and Technology Commercialization 2017 - 2018 Tsinghua SEM Faculty 21

GAO Xudong JIN Zhanming Associate Professor Professor

• Bachelor, 1988, Harbin Institute of Technology • Bachelor, 1980, Jilin University of Technology • Master, 1991, Renmin University of China • Master, 1983, Chinese Academy of • Ph.D., 2003, Massachusetts Institute of Agricultural and Mechanization Sciences Technology • Ph.D., 1989, China University of Mining and Technology Research Areas Competitive Strategy, Technology Strategy, Research Areas Management of Technological Innovation , Strategic Selection under e-Business Environment, Military Strategy and Enterprise Competition, M&A and Strategic Alliances, Leadership and Control in the Process of Strategic Management

GUO Yidi LEI Jiasu Assistant Professor Professor

• Bachelor, 2005, Tsinghua University • Bachelor, 1983, Xi'an University of • Master, 2008, Tsinghua University Finance and Economics • Ph.D., 2017, INSEAD • Master, 1987, Northwestern University • Ph.D., 1993, Tsinghua University Research Areas Strategic Management, Organization Theory Research Areas Theory of National Economic Security, Innovation, Entrepreneurship and Corporate Growth, Education of Innovation and Entrepreneurship, Economics of Innovation and Entrepreneurship

JIAO Jie LI Donghong Associate Professor, Associate Professor, Vice Chair Deputy Secretary of CPC Committee • Bachelor, 1993, Lanzhou University • Master, 1996, Lanzhou University • Bachelor, 1996, Tsinghua University • Ph.D., 1999, Renmin University of China • MBA, 2002, Tsinghua University • Ph.D., 2006, the George Washington University Research Areas Strategic Management, Internationalization, Research Areas Industry Upgrading Strategic Management and Strategic Restructuring, Global Strategy, Regional Development Strategy

JIN Yongjun LI Jizhen Associate Professor Associate Professor, Assistant Dean

• Bachelor, 1990, East China Normal University • Master, 1996, Peking University • Bachelor, 1997, Tsinghua University • Master/Ph.D., 2002, Tsinghua University Research Areas M&A Related Intellectual Property Law, Law Research Areas of Corporation, Contracts and Chinese Tax Management of Technological Innovation, Issue, Judicial Case Reviews, and General Science and Technology Policy, Project Management Case Study Management, Innovation Management and Entrepreneurial Management of SMEs Tsinghua SEM 2017 - 2018 22 Faculty

LI Xibao WANG Yi Associate Professor Associate Professor

• Bachelor, 1993, Shanghai Jiaotong University • Bachelor, 1993, Beijing University of • Master, 1998, Tsinghua University Astronautics and Aeronautics • Master, 2001, The Ohio State University • Master, 1996, Tianjin University • Ph.D., 2003, The Ohio State University • Ph.D., 2000, Zhejiang University

Research Areas Research Areas Innovation Management, Entrepreneurial Management of Technological Innovation, Management, Knowledge Management Strategic Management, Corporation Competence

NING Xiangdong WEI Jie Professor Tsinghua Tongfang Chair Professor

• Bachelor, 1988, Tsinghua University • Bachelor (equivalent), 1979, Northwest University • Master, 1990, Tsinghua University • Master, 1982, Northwest University • Ph.D., 2003, Tsinghua University • Ph.D., 1987, Renmin University of China

Research Areas Research Areas Corporate Governance, Strategic Corporate Institutional Arrangement, Corporate Management, the Theory of Firm, Strategic Choice, Corporate Culture Cultivation, Transition Economy of China Corporate External Selecting Mechanism, Macroeconomic Policy Analysis, Macroeconomic Flow-of-funds Analysis, Market Economy Research

LU Chunyan Steven White Associate Professor Associate Professor

• Bachelor, 1986, Peking University • Bachelor, 1985, Duke University • Master, 1989, Peking University • Master, 1988, International University of Japan • Ph.D., 1997, Massachusetts Institute of Research Areas Technology Law of Corporation, Contracts and Related Judicial Case Comments Research Areas Internationalization, Innovation, Strategy, Strategy Execution, M&A, Alliances

SHI Yongheng WU Rui Associate Professor Assistant Professor

• Bachelor, 1984, Tsinghua University • Bachelor, 2001, Peking University • Master, 1987, Tsinghua University • Master, 2003, University of California, • Ph.D., 1990, Tsinghua University Los Angeles • Ph.D., 2010, University of Southern California Research Areas International Management and Global Research Areas Strategy, Corporate Strategy, Corporate Strategic Alliances, Inter-firm Relationships, Organazation and System, International Transaction Cost Theory, Resource-based Trade Theory, Organizational Learning 2017 - 2018 Tsinghua SEM Faculty 23

XIE Wei ZHANG Wei Professor, Chair Associate Professor

• Bachelor, 1989, PLA Transportation • Bachelor, 1995, Tsinghua University Engineering College • Master, 1998, Tsinghua University • Master, 1993, Southeast University • Ph.D., 2002, Tsinghua University • Ph.D., 1999, Tsinghua University Research Areas Research Areas Venture Capital, Entrepreneurship, Strategic Alliance, Business Model, Development and Dynamics of Emerging Innovation Management Industries

XIE Zhenzhen ZHU Hengyuan Assistant Professor Associate Professor, Vice Chair

• Bachelor, 2005, Tsinghua University • Bachelor, 1991, Tsinghua University • Master, 2007, Tilburg University • Master, 1998, Tsinghua University • Ph.D., 2013, Hong Kong University of • Master, 2000, Rensselaer Polytechnic Institute Science and Technology • Ph.D., 2006, Tsinghua University

Research Areas Research Areas Foreign Direct Investment, Cross-border Organization and Process of New Product or Mergers and Acquisitions, Innovation, New Business Development, Entrepreneurship, Research & Development Alliances and Venture Creation and Growth Competitive Emerging Economies Advantage in Emerging Market, Innovation and Corporation Transformation

XUE Lei Visiting Faculty Associate Professor ZHANG Yan • Bachelor, 1982, Tsinghua University Distinguished Visiting Chair Professor, Co-Chair • Master, 1988, Tsinghua University • Ph.D., 2010, Tsinghua University Fayez Sarofim Vanguard Professor of Management, Rice University Research Areas Strategy and Innovation Management, Research Areas Healthcare Management, Business History CEO Succession/Dismissal, Foreign Direct Investment, Technology Entrepreneurship in Emerging Markets

YANG Delin Professor Department of Leadership

• Bachelor, 1982, Huazhong Normal University • Master, 1991, Chinese Academy of Sciences and Organization • Ph.D., 1997, Chinese Academy of Social Sciences Management Research Areas Entrepreneurial Management, Management of Technological Innovation, Interactions between Industry and University, Management of Intellectual Property Rights Tsinghua SEM 2017 - 2018 24 Faculty

CHEN Guoquan GAO Xiangyu Professor, Vice Chair Assistant Professor

• Bachelor, 1990, Tsinghua University • Bachelor, 2001, Xi’an Jiaotong University • Master, 1991, Tsinghua University • Master, 2005, Xi’an Jiaotong University • Ph.D., 1994, Tsinghua University • Ph.D., 2015, National University of Singapore Research Areas Organizational Learning, Learning Research Areas Organization, Team Learning, Learning Team, Interpersonal Trust, Proactive Personality Individual Learning, Leaders' Individual and Behavior, Work Safety and Error Learning, Leadership, Team Management Management

CHEN Hao JIANG Peng Assistant Professor Associate Professor

• Bachelor, 2003, Jilin University • Bachelor, 1997, Jilin University • Master, 2006, Shenzhen University • Master, 2000, Jilin University • Ph.D., 2011, University of Texas at Dallas • Ph.D. in Law, 2003, China University of Political Science and Law Research Areas Entrepreneurial (Founding) Team Dynamics Research Areas (Female) Entrepreneurial Team Building Business Legal Environment (Including Supervisor-Subordinate Relationship Studies Labor Relationships), Government-Merchant and Cross-Cultural Comparison of These Topics Relationship and Business History, Business Ethics and Corporate Social Responsibility

CHEN Xiao QIAN Xiaojun Assistant Professor Professor, Associate Dean

• Bachelor, 2001, Sun Yat-sen University • Bachelor, 1982, Tsinghua University • Master, 2007, University of Michigan • Master, 1988, Purdue University • Ph.D., 2012, University of Toronto • Ph.D., 1992, Purdue University

Research Areas Research Areas Priming Effects and Subconscious Leadership, Implicit Cognition, Business Mechanism in Ethics, Entrepreneurial Ethics, Corporate Social and Human Resource Management, Responsibilities and Sustainability Management in The Chinese Context, Psychological Microfoundations of Strategy

CHI Wei QU Qing Associate Professor Associate Professor

• Bachelor, 1998, Renmin University of China • Ph.D., 2003, University of Minnesota • Bachelor, 1993, Tsinghua University • Master, 1997, Tsinghua University Research Areas • Ph.D., 2007, Tsinghua University Compensation, Incentives, Pay Gaps, Income Inequality, Labor Relations, Research Areas Contract and Unions Organizational Culture, Leadership, Human Resource Management, Values, Person-Organization Fit, Managerial Thinking 2017 - 2018 Tsinghua SEM Faculty 25

WANG Lei WU Zhiming Assistant Professor Associate Professor

• Bachelor, 2002, Beijing Normal University • Bachelor, 1989, Hangzhou University • Master, 2005, Beijing Normal University • Master, 1996, Beijing Normal University • Ph.D., 2011, State University of New York • Ph.D., 1999, Beijing Normal University at Buffalo Research Areas Research Areas Organization and Human Resource Leadership, Social Networks,Team Management, Team Effectiveness, Knowledge Transfer Leadership, Employee’s Recruitment and Selection, Expatriate Adjustment

WANG Xiaoye YANG Baiyin Associate Professor Flex Chair Professor, Chair

• Bachelor, 2000, East China Normal University • Bachelor, 1982, Nanjing University • Master, 2004, East China Normal University • Master, 1992, University of Saskatchewan • Ph.D., 2010, Hong Kong University • Ph.D., 1996, University of Georgia of Science and Technology Research Areas Research Areas Creativity and Innovation in Organizations, Performance Evaluation, Creativity Holistic Theory of Knowledge and Recognition, Social Cognition Learning, Leadership Development, Adult and Organizational Learning, Learning Organization, Power and Influence Tactics, Cross-Cultural Management

WANG Xueli YANG Bin Associate Professor Professor

• Bachelor, 1993, Harbin Institute of Technology • Bachelor, 1992, Tsinghua University • Master, 1996, Harbin Institute of Technology • Master/ Ph.D., 2000, Tsinghua University • MBA, 1996, Macao University • Ph.D., 2003, Tsinghua University Research Areas Business and Society, Leadership Theory Research Areas and Practice, Nonmarket Strategy, Business Chinese-Style Management, Organizational Ethics, Crisis Management, Management Change, Strategic Human Resource Education Management, Organizational Culture

YANG Ling WU Weiku Assistant Professor Professor

• Bachelor, 2003, Tsinghua University • Bachelor, 1983, Northeastern University of • Master, 2006, Tsinghua University Technology • Ph.D., 2012, Stanford University • Master, 1987, Harbin Institute of Technology • Ph.D., 1994, Tsinghua University Research Areas Organizational Theory, International Research Areas Business, Innovation and Entrepreneurship Leadership, Chinese sinology and leadership, Competition and Game Theory, Value Based Leadership, EQ and Leadership, Sunny Mood, Harmonious Leadership, Leader’s core competency, Followership. Tsinghua SEM 2017 - 2018 26 Faculty

ZHANG Jiayin Visiting Faculty Assistant Professor LIAO Hui

• Bachelor, 2005, Tsinghua University Distinguished Visiting Professor • Master, 2008, Tsinghua University Smith Dean’s Professor in Leadership and • Master /Ph.D., 2014, Massachusetts Institute Management, University of Maryland of Technology

Research Areas Research Areas Organizational Behavior, Organizational Theory, Leadership, Service Behavior/Quality, Diversity and Inclusion, Economic Sociology Creativity and Proactivity, Strategic Human Resource Management, Cross-Cultural Management

ZHANG Jin Associate Professor ZHOU Jing Distinguished Visiting Chair Professor, Co-Chair Houston Endowment Professor of Management • Bachelor, 1986, Peking University • Master, 1989, Peking University and Psychology, Rice University • Master, 2002, University of Southern California • Ph.D., 2004, University of Southern California Research Areas Contextual Effects on Organizational Creativity, Innovation, Research Areas and Entrepreneurship, Consequences of Employee Creativity, Positive Organizational Psychology, Science Leadership, Individual and Team Behavior in the Workplace, of Subjective Well-Being, Positive Psychology, Cross-Cultural and Diversity Issues in Organizational Behavior IT System and Organizational Behavior, and Human Resource Management Behavioral Economics, Personnel Assessment and Selection, Career Development and Planning, Cross-Cultural Communication and Negotiation, Work Value and Work Behavior

ZHANG Mian Associate Professor Department of

• Bachelor, 1993, Xi’an Jiaotong University • Ph.D., 2002, Xi’an Jiaotong University Management Science Research Areas and Engineering Organizational Attachment, Multiple Roles and Identities, Social Capital and Social Network, Behavioral Decision Making and Ambiguity

ZHENG Xiaoming CHEN Guoqing Associate Professor EMC Chair Professor

• Ph.D., 1998, Chinese Academy of Sciences • Bachelor, 1982, Renmin University of China • MBA, 1988, Catholic University of Leuven Research Areas • Ph.D., 1992, Catholic University of Leuven Leadership, Work-Life Balance, Employee Well-Being, Team Effectiveness, Research Areas Organizational Culture, and Strategic IT Strategy and Management, Business Human Resources Management Intelligence and e-Business, Data Modeling and Fuzzy Logic 2017 - 2018 Tsinghua SEM Faculty 27

CHEN Jian LI Bo Lenovo Chair Professor, Chair Associate Professor

• Bachelor, 1983, Tsinghua University • Bachelor, 2002, Peking University • Master, 1986, Tsinghua University • Ph.D., 2006, University of California, • Ph.D., 1989, Tsinghua University Berkeley

Research Areas Research Areas , e-Business, Data Science, Applied Econometrics Business Intelligence and Decision Analysis, Optimization and Forecasting Techniques

GUO Xunhua LI Xixi Associate Professor Assistant Professor

• Bachelor, 2000, Tsinghua University • Bachelor, 2006, Hong Kong Polytechnic • Ph.D., 2005, Tsinghua University University • Ph.D., 2010, Hong Kong Polytechnic Research Areas University Information Systems, e-Business, Business Intelligence Research Areas Employee Innovative Use of Complex Information Systems, Knowledge Management, Motivation Theory, Healthcare Information Technology

HUANG Jinghua LIN Lihui Professor Associate Professor

• Bachelor, 1986, Tsinghua University • Bachelor, 1994, Tsinghua University • Master, 1988, Tsinghua University • Master, 1997, Tsinghua University • Ph.D., 2005, Tsinghua University • Master, 1999, University of Texas at Austin • Ph.D., 2002, University of Texas at Austin Research Areas IT Business Value, Business Value of Social Research Areas Media, Consumer Behavior in Social Media, Knowledge Management, Crowdsourcing, Organizational Behavior in Social Media Crowd Funding, Open source, E-Commerce, IT Investment, Real Options Analysis, Licensing of Intellectual Property

HUANG Shuo LIU Dengpan Associate Professor Professor

• Bachelor, 1997, Tsinghua University • Bachelor, 1999, University of Science and • Ph.D., 2002, Tsinghua University Technology of China • Master, 2001, The University of Texas at Research Areas Dallas Supply Chain Management, Operations • Ph.D., 2006, The University of Texas at Management, Inventory Control Dallas

Research Areas Information Systems and Information Management, E-commerce, Internet FinanceLicensing of Intellectual Property Tsinghua SEM 2017 - 2018 28 Faculty

LIU Hongyan SUN Jing Professor, Vice Chair Associate Professor

• Bachelor, 1991, Beijing University of • Bachelor, 1991, Tianjin University Chemical Technology • Master, 1994, Tianjin University • Master, 1994, Beijing University of • Ph.D., 1999, Beijing University of Chemical Technology Astronautics and Aeronautics • Ph.D., 2000, Tsinghua University Research Areas Research Areas Strategy Decision and Change Data/Text Mining, Business Intelligence, Management, Service Operation Social Network Analysis, Recommender Management, Decision Science, Quality Systems, Computational Advertising, Engineering, Total Quality Management Healthcare data mining and analysis

LIU Liwen WANG Chun Professor Assistant Professor

• Bachelor, 1982, Northern Jiaotong University • Bachelor, 2005, Tsinghua University • Master, 1986, Nagoya Institute of Technology • Master, 2007, University of Wisconsin • Ph.D., 1989, Nagoya Institute of Technology • Ph.D., 2014, Columbia University

Research Areas Research Areas Production and , Dynamic Programming, Decision Supply Chain Management, Service Models, Financial Engineering and Risk Management, JIT and Lean Production, Management Industrial Engineering, Logistics Management

LIANG Yong WEI Qiang Assistant Professor Associate Professor

• Bachelor, 2005, Tsinghua University • Bachelor, 1997, Tsinghua University • Master, 2008, Purdue University • Master, 1999, Tsinghua University • Ph.D., 2013, University of California, • Ph.D., 2003, Tsinghua University Berkeley Research Areas Research Areas Information Systems and Management, Supply Chain Management, Dynamic Big Data Analytics, Business Intelligence Programming and Optimal Control, and Data Mining, Uncertainty Techniques, Energy Policy, Economy and Planning Simulation Techniques

MAO Bo WEN Zhong Associate Professor Associate Professor

• Bachelor, 1987, Tsinghua University • Bachelor, 1998, Tsinghua University • Master, 1989, Tsinghua University • Master, 2000, Tsinghua University • Ph.D., 2006, New York University Research Areas Chinese Enterprises’ Information Research Areas System and Management, Knowledge E-Market, E-Commerce Strategy, Pricing Management, Date Analysis & Business Information Goods, Information Economics, Model Internet Finance 2017 - 2018 Tsinghua SEM Faculty 29

XIAO Yongbo YE Qing Associate Professor Associate Professor

• Bachelor, 2000, Tsinghua University • Bachelor, 1998, Tsinghua University • Master/Ph.D., 2006, Tsinghua University • Master, 2001, Tsinghua University • Ph.D., 2006, University of Michigan Research Areas Revenue and Pricing Management, Service Research Areas Systems and Service Management, Supply Supply Chain Management, Procurement Chain Management and Outsourcing Management, Information Asymmetry in Operations Management, Capacity and Inventory Management

XIE Bin YI Cheng Associate Professor Associate Professor

• Bachelor, 1986, Tsinghua University • Bachelor, 2006, National University of • Master, 1989, Tsinghua University Singapore • Ph.D., 1993, Tsinghua University • Ph.D., 2011, National University of Singapore Research Areas Operations and Supply Chain, Research Areas Pharmaceutical Supply Chain and Electronic Commerce, Human-Computer Information Ecosystem, Harm Control, Interaction, Online Consumer Behavior, Consumer-oriented Governance Internet Marketing

XU Xin ZHU Yan Professor, Associate Dean Professor, Deputy Secretary of CPC Committee

• Bachelor, 1998, Tsinghua University • Master, 2000, Tsinghua University • Bachelor, 1994, Tsinghua University • Ph.D., 2005, University of California, Irvine • Master/Ph.D., 1998, Tsinghua University

Research Areas Research Areas Business Value of IT, Social Media, Internet Behavior, Internet Economics, IT Governance e-Business, Trust Management, Healthcare System Management

YANG Liu Visiting Faculty Associate Professor Visiting Faculty Jim Jiangang Dai • Bachelor, 2003, Tsinghua University • Master, 2004, Singapore-MIT Alliance Special-Term Professor • Ph.D., 2010, Duke University Leon C. Welch Professor, Cornell University Research Areas Game Theory, Queueing Theory, Research Areas Mechanism Design, Behavioral Operations Research, Stochastic Networks, Supply Chains Operations Management, Service Management, Service System Management Management, Healthcare Management Tsinghua SEM 2017 - 2018 30 Faculty

Jingsheng Jeannette Song Distinguished Visiting Professor Department of Marketing Professor, Duke University

Research Areas Operations Management, Supply Chain Management, Decision Models

CHEN Rong SUN Peng Associate Professor

Distinguished Visiting Professor • Bachelor, 1998, Xi’an Jiaotong University Professor, Duke University • Master, 2000, Xi’an Jiaotong University • Ph.D., 2004, The Chinese University Research Areas of Hong Kong Decision Models, Quantitative Methods for Decision Making, Mathematical Optimization, Dynamic Programming, Dynamic Research Areas Mechanism Design Consumer Behavior, Consumer Satisfaction and Regret, Consumer Decision Making under Risks, Decision Making of Second- hand Products, Services Management and Innovation, Pricing and Promotion Strategy, Customer Relations Management

CHEN Yubo TAN Yong Professor, Associate Dean Chang Jiang Scholars of Ministry of Education, People's Republic of China

Neal and Jan Dempsey Professor of Information • Bachelor, 1997, Southeast University Systems, University of Washington • Master, 2000, Southeast University • Ph.D., 2004, University of Florida

Research Areas Research Areas Big Data and Business Analytics, Electronic and Mobile Big Data and Business Innovation in the Commerce, Social Networks, Economics of Information Networked World, Market Transformation and Systems Business Analytics in the Mobile Internet Era, Digital Transformation of Chinese Economy, Climate Change and Sustainability Strategy

HU Zuohao David Da-Wei Yao Professor

Distinguished Visiting Professor Piyasombatkul Family Professor, Columbia • Bachelor, 1985, Huazhong University of Science and Technology University • Master, 1988, Zhejiang University • Ph.D., 2000, Kyoto University Research Areas Queueing Networks, Discrete Event Stochastic Systems, Research Areas Applied Probability, Operations Management Marketing Strategy, Channel Design and Management, Brand Management, International Marketing Strategies, Marketing Financial Services 2017 - 2018 Tsinghua SEM Faculty 31

JIANG Xuping LIU Xia Professor Associate Professor

• Bachelor, 1982, Central-South Institute of • Bachelor, 1999, Beijing Normal University Mining and Metallurgy • Master, 2002, Beijing Normal University • Master, 1985, Tsinghua University • Master, 2004, Syracuse University • Master, 2008, Syracuse University Research Areas • Ph.D., 2010, Syracuse University New-Media Integrated Marketing, e-Marketing, e-IMC (Electronic Integrated Marketing Research Areas Communication), e-Commerce, Modern Quantitative Marketing Models, Logistics and e-Procurement, Quantitative Entertainment Marketing, Brand Analysis Methods and IT Tools, Information Management and Marketing Strategy Management, Information System Developing Methodologies, Decision Support System and Expert System, e-CRM

LI Fei LIANG Yitian Professor, Chair Assistant Professor

• Bachelor, 1983, Beijing Institute of Business • Bachelor, 2008, Jinan University • Master, 1988, Beijing Institute of Business • Bachelor, 2009, City University of Hong Kong • Ph.D., 2002, Renmin University of China • Master, 2011, University of British Columbia • Ph.D., 2017, University of British Columbia Research Areas Marketing Positioning Decisions, OmniChannel Research Areas Marketing, Luxury Marketing, History of Pricing, Big Data Marketing, Online Video Marketing Study of China, Marketing Study Games, Movie of China, and Methodology of Case Study in Marketing

LIU Wenjing SONG Xuebao Assistant Professor Associate Professor

• Bachelor, 2000, University of International • Bachelor, 1986, Huazhong Agriculture University Business and Economics • Master, 1989, Renmin University of China • Master, 2004, National University of • Ph.D., 1992, Renmin University of China Singapore • Ph.D., 2010, University of Toronto Research Areas Strategic Marketing, Entrepreneurial Marketing, Research Areas Industrial Marketing, Green Marketing, City Consumer Behavior and Decision-Making, Marketing Interpersonal Interactions, Time Perception, Intertemporal Choice, Pricing

LIU Xi SUN Yacheng Associate Professor Associate Professor

• Bachelor, 1995, Peking University • Bachelor, 2001, Huazhong University of • Ph.D., 2002, University of Iowa Science and Technology • Master, 2002, Indiana University Research Areas • Ph.D., 2008, Indiana University Corporate Social Responsibility, Crisis Management, Qualitative Market and Research Areas Consumer Research Pricing, Analytical Customer Relationship Management, Online Social Networks Tsinghua SEM 2017 - 2018 32 Faculty

XIE Zan Visiting Faculty Assistant Professor CUI Haitao

• Bachelor, 1985, Peking University Visiting Professor • Master, 1991, Tsinghua University Margaret J. Holden and Dorothy A. Werlich • Ph.D., 2005, Tsinghua University Professorship, Professor of Marketing, Research Areas University of Minnesota Marketing Strategy, Consumer Behavior, Marketing Research, Product Research Areas Quality Measurement, Customer Behavioral Modeling in Marketing, Pricing, Distribution Satisfaction Channels, Competitive Strategy, Brands and Brand Management, Marketing-Operations Interfaces, Corporate Social Responsibilities, Sustainability

YU Chunling Associate Professor XIE Jinhong

Distinguished Visiting Professor, Co-Chair • Bachelor, 1993, Tianjin University JCPenney Eminent Scholar Chair, University • Master, 1996, Tianjin University • Ph.D., 2004, Tsinghua University of Florida

Research Areas Research Areas Strategic Brand Management, Valuation Internet Marketing New Business Model, Consumer Social of Brand Asset, Globalization of Brand Interactions and Marketing Innovation, Network Effects and from Emerging Market Standards Competition, International Marketing

ZHAO Ping Professor ZHANG Juanjuan

Distinguished Visiting Professor • Bachelor, 1982, Jilin University Epoch Foundation Professor of International • Master, 1985, Tianjin University Management and Professor of Marketing, • Ph.D., 1992, Tsinghua University Massachusetts Institute of Technology Research Areas Branding Strategy & Brand Management, Research Areas Social Media Marketing in Internet Observational Learning, Social Interactions, Era, Customer Satisfaction Theory and Marketing Strategy, Emerging Markets Measurement, Entrepreneurial Marketing

ZHENG Yuhuang Associate Professor

• Bachelor, 1998, Tsinghua University • MBA, 2000, Tsinghua-MIT Sloan International MBA Program • Master, 2002, Columbia University • Ph.D., 2006, Columbia University

Research Areas Consumer Behavior, Consumer Judgment and Decision Making, Consumer Self-control, Marketing Strategies for Hedonic vs. Utilitarian Products, Pricing and Promotion Strategies, Customer Relationship Management, Entrepreneurship, Internet Marketing, Global Marketing, Cultural Differences 2017 - 2018 Tsinghua SEM Faculty 33

Honorary Professors Adjunct Professors

Robert J. Barro CHEN Yuan Paul M. Warburg Professor of Economics, Harvard University GUO Shuqing Lawrence J. Lau Ralph and Claire Landau Professor of Economics, LI Jiange The Chinese University of Hong Kong LI Rongrong Eric S. Maskin Adams University Professor, Harvard University LIU Shiyu Nobel Laureate in Economics, 2007 LOU Jiwei MUN Kin Chok Former Dean, Faculty of Business Administration, The Chinese University of Hong Kong MA Jiantang

Edmund S. Phelps WU Jinglian McVickar Professor of Political Economy, Columbia University WU Xiaoling Nobel Laureate in Economics, 2006 Daniel L. Ritchie Former Chancellor, University of Denver ZHENG Jingchen Oliver E. Williamson ZHOU Xiaochuan Edgar F. Kaiser Professor Emeritus of Business, Professor Emeritus of Economics and Law, University of California, Berkeley ZHU Rongji Nobel Laureate in Economics, 2009

YUAN Baohua Founder, China Enterprise Confederation, China Enterprise Directors Association, China Enterprise Management Science Foundation Former President, Renmin University of China Tsinghua SEM 2017 - 2018 34 Programs

Programs

Tsinghua SEM is committed to advancing knowledge and cultivating leaders for China and the world. The School strives to provide students with the highest quality education to help them reach their full potential. The School has over 6,000 students in the undergraduate, second degree undergraduate, doctoral, master’s, MBA, and EMBA programs. In addition, the School offers collaborative degree programs and executive education programs.

Tsinghua SEM’s strong international reputation, commitment to academic excellence, and global orientation attract students from across the globe. The School currently enrolls over 300 international students and the students from Hong Kong, Macao, and Taiwan. The School offers student exchange programs with 109 leading universities and business schools around the world. 2017 - 2018 Tsinghua SEM Programs 35

Undergraduate Programs

Program Features Economics and Finance (including Insurance) The curriculum balances economic and finance theories with The undergraduate education at Tsinghua SEM emphasizes three practical knowledge and offers both a global perspective and a aspects: special focus on China’s economic and financial issues. • First, the objective is to make each student a fully developed Accounting person while creating an environment that promotes top talents. The curriculum cultivates accounting professionals fully in touch • Second, the School pursues the “three-prong” education, which with international standards and familiar with global economic is composed of value formation, capability development, and development and capital market disciplines. knowledge acquisition.

• Third, the School follows an approach that integrates general Information Management and Information education with individual development. Systems

In 2014, Tsinghua SEM’s Undergraduate Education Reform The curriculum cultivates management professionals who won the China National Education Achievement Award. can effectively apply information technology to enhance management and lead innovation, to decipher and master Majors business activities in a new era.

Tsinghua University enacted a new undergraduate enrollment Business Administration policy beginning in 2017. Tsinghua SEM recruits students under (for student athletes) the category of “Economics, Finance, and Management.” Freshmen choose majors from among Economics and Finance, The curriculum aims to cultivate student athletes to build a Accounting, Information Management and Information Systems foundation of business knowledge. The five-year program in the spring semester of the first academic year. offers a one-year preparatory course as a precursor to traditional four-year undergraduate learning. Tsinghua SEM 2017 - 2018 36 Programs

Undergraduate Programs

Second Degree Majors Undergraduate Programs Second Degree Program in Economics

• In 2006, Tsinghua SEM started to offer a second degree The program aims to cultivate interdisciplinary talents with undergraduate program in Economics. comprehensive economics knowledge and strong analytical • In 2013, the second degree undergraduate program in skills. Students are encouraged to develop a broader vision, Management resumed enrollment. profound thinking, and rigorous analysis of economic issues.

• In 2015, the track of Innovation, Entrepreneurship, and The program also offers a Finance track. The curriculum Leadership was offered in the second degree undergraduate balances economic and finance theories with practical program in Management, and the Finance track was added knowledge and offers both a global perspective and a special as a second degree undergraduate program option in focus on China’s economic and financial issues. Economics. Second Degree Program in Management • In 2017, the Financial Analysis and Control track was The program aims to cultivate interdisciplinary talents with incorporated as an additional second degree undergraduate strong analytical skills, management and leadership capabilities. program in Management. Tracks are offered in: Innovation, Entrepreneurship, and • In 2018, the Business Data Science track will be opened as Leadership; Financial Analysis and Control; and Business Data a second degree undergraduate program in Management. Science.

In collaboration with Tsinghua x-lab, the Innovation, Program Objectives Entrepreneurship, and Leadership track aims to cultivate multidimensional graduates who are able to establish, manage, The programs aim to cultivate undergraduate students from and develop innovative enterprises and social organizations with other schools and departments within Tsinghua University to a global perspective. The Financial Analysis and Control track become interdisciplinary talents. aims to cultivate interdisciplinary talents with solid theoretical knowledge in accounting and financial analysis. The Business In the second degree undergraduate program curricula, Data Science track is targeted at fostering versatile talents elective course options outnumber required courses, providing with solid theoretical knowledge in management, information more opportunities for students on course selection. technology, and data science as well as a broad perspective and analytical skills. 2017 - 2018 Tsinghua SEM Programs 37

Doctoral Programs

Program Objectives Academic Curriculum To standardize the doctoral curriculum, Tsinghua SEM has Tsinghua SEM’s doctoral programs are designed to develop established three doctoral core-course platforms, including outstanding scholars in research and teaching in the field of Economics/Finance/Accounting, General Management, and economics and management at leading Chinese and overseas Management Science and Engineering. Each of the three universities. platforms has a specific set of general and field-specific required courses. Doctoral students are expected to focus on coursework Programs Features in the first two years of study. The School requires all doctoral students to take a qualification Application Process examination within a time limit. Qualification exams are graded anonymously. Applicants are required to choose a field of study during the application process. Advisor selection takes place after the Doctoral students are also required to write and present their qualification exam. second-year research papers. All doctoral theses are assessed by faculty and outside experts under a double-blind review process.

Fields of Study Department Education and Placement • Accounting • Department of Accounting Each academic department has established a doctoral program • Theoretical Economics and • Department of Economics committee which is responsible for the overall coordination, Applied Economics design, and implementation of the program. • Finance • Department of Finance The committee serves as faculty liaison available to doctoral • Innovation, Entrepreneurship • Department of Innovation, students for support, problem-solving, and facilitation of learning and Strategy Entrepreneurship and activities to enhance the student’s educational experience. The Strategy committee also provides mentorship and career advice as well • Leadership and Organization • Department of Leadership as guidance in placement for doctoral students. Management and Organization Management Resources and Support • Management Science and • Department of Management Engineering Science and Engineering Tsinghua SEM offers scholarship and fellowship funding to • Marketing • Department of Marketing doctoral students. Outstanding doctoral students are provided with opportunities to study abroad for one semester or one year to conduct research with internationally renowned scholars as well as opportunities to participate in domestic and international academic conferences. Tsinghua SEM 2017 - 2018 38 Programs

Master’s Programs

Master of Finance (MoF) Master in Management (MiM)

- Program Objectives - Program Objectives The program aims to develop exceptional financial Targeting pre-experience undergraduates, the program professionals with comprehensive and applied knowledge strives to develop students’ analytical, general management, in economics and finance, a global perspective, and the and leadership skills, preparing them for managerial and ability to adapt to rapidly changing financial markets. The leadership positions in corporations, government, and program prepares students for work in financial and insurance nonprofit organizations. companies, consulting companies, private sector enterprises, - Program Features and regulatory entities. Students are expected to attain comprehensive knowledge - Program Features in management through a set of intellectually challenging The program is innovative and interdisciplinary. Four distinct courses, some of which are instructed in English, given the concentrations are offered: Global Finance, Financial bilingual nature of the program. Engineering, Entrepreneurial and Corporate Finance, and In 2011, Tsinghua SEM joined the Global Alliance in Insurance and Big Data Finance. The dual mentorship system Management Education (CEMS) and became the first and of the program pairs each student with an academic mentor the only business school in mainland China with full CEMS and an industry mentor. membership. Students who successfully complete the CEMS The program offers dual-degree programs in collaboration curriculum will receive a CEMS diploma. Qualified MiM with HEC , Haas School of Business at the University of students can also enroll in the Tsinghua SEM-HEC MiM Dual- California, Berkeley, and Columbia University. Degree Program.

Master of Professional Accounting Tsinghua-Columbia Dual Master’s (MPAcc) / Tsinghua-SMU MCFO & Degree Program in Business Analytics MPAcc Dual-Degree Program - Program Objectives - Program Objectives This program aims to develop outstanding professionals The program aims to develop highly capable accounting with strong knowledge of management and data analytics, a professionals with comprehensive and applied accounting visionary global perspective, and the ability to apply analytics knowledge, global awareness, and exposure to economics in business practice. and management theories and practices. - Program Features - Program Features The program strives to balance between accounting theory Students in the dual-degree program study at Tsinghua and real-world application. The program invites experienced University (Beijing, China) for the first year, and after a industry practitioners to serve as faculty and mentors. separate application process, enroll and study at Columbia University (New York, USA) during the second year. The program will be restructured to the Tsinghua University - Singapore Management University MCFO & MPAcc Dual- Degree Program beginning in 2018. 2017 - 2018 Tsinghua SEM Programs 39

MBA Programs

Launched in 1991, Tsinghua MBA aims to educate future Program Features leaders with general management capabilities. International Exposure Structure The School has student exchange partnership with over 100 Tsinghua MBA is designed to deliver three core components to overseas universities. Students can apply for one term of study its students: Being, Knowing, and Doing. in a cooperative school or for short-term overseas courses. Each semester, Tsinghua MBA welcomes around 100 students The curriculum is composed of five modules: Analytical from its partner schools. Foundations, Management Fundamentals, Ethics and Soft Skills, China and the World, and Integrative Practices. Tsinghua MBA students can apply a dual degree in the cooperative universities including Columbia, MIT and HEC Paris. Curriculum Learning Methodology

The curriculum strives to strike a balance between capability Tsinghua MBA offers leading SPOC courses to MBA students, and integrity, between academic discipline and practical improving the efficiency and impact of classroom discussion relevance, and between global perspective and China focus. and meeting the individualized learning requirements of MBA These objectives are achieved through soft skill development, students. Leading MOOC offerings from Tsinghua University experiential learning, integrated learning, and global also provide increased choice and flexibility to MBA students. experiences.

Tsinghua MBA offers approximately 100 elective courses in seven Entrepreneurial Resources areas and practice-oriented courses to accommodate students’ Tsinghua MBA offers entrepreneurship courses and activities individualized needs based on their career plans and interests. to students. The Tsinghua MBA Entrepreneurship Competition is held annually. Students joining the competition will obtain Admission reform support from Tsinghua x-lab and Tsinghua SEM X-elerator.

Tsinghua MBA is the first to implement the “interview before Alumni Network MBA entrance exam” application procedure in China. Applicants The Tsinghua SEM MBA Alumni Association has more than with a valid 720+ GMAT score or equivalent GRE score are 10,000 alumni and organizes various alumni events and qualified to attend interviews directly. The entire application establishes several alumni chapters to promote life-long procedure is completed online. learning, career development, and business cooperation among MBA graduates.

Programs

Tsinghua-MIT The Tsinghua-MIT Global MBA Program is a full-time program in English by Tsinghua SEM Full-time, 21 months Global MBA in collaboration with MIT Sloan School of Management.

Tsinghua MBA Tsinghua SEM offers a part-time MBA program in Chinese for business professionals who Part-time, 33 months prefer to work and study at the same time. Tsinghua SEM 2017 - 2018 40 Programs

EMBA Programs

Tsinghua SEM Executive MBA (EMBA) Practical Curriculum The program has developed a unique curriculum that prepares Launched in 2002, the Tsinghua SEM Executive MBA (EMBA) Chinese business leaders for a constantly changing global is committed to cultivating industry leaders and shaping the business environment. The curriculum is practically oriented future of enterprises and organizations. The program combines with special attention paid to China-specific management issues advanced management theories and concepts with best and practices. practices in China to equip executives with strong business In 2012, the program launched a new curriculum which enables ethics, innovative spirit, leadership skills, strategic decision- students to access university-wide knowledge and resources making capability, and global competitiveness. and enhances their ability to understand global megatrends, In 2005, the program achieved outstanding results in the first grasp opportunities, create favorable conditions, and achieve official EMBA program evaluation by the Academic Degree win-win outcomes. Committee of the State Council. The program has consistently The program launched a new elective course curriculum in 2015 been ranked at the top of the “China’s Best EMBA Programs” including courses: Internet+, Innovation and Entrepreneurship; list by Managers magazine since 2007. Transformation and Upgrading; Integration of Industry and Finance. Dedicated World-Class Faculty Extensive, In-Depth Global Partnerships The faculty team is composed of highly qualified Chinese and foreign academics and professionals with world-class The program’s partnerships are both extensive and in-depth. credentials. Tsinghua SEM is the first business school in China to join the EMBA Global Council. Tsinghua SEM EMBA offers seven High-Quality Students overseas learning tracks, including those focused on the East and West Coasts of the U.S. as well as , Germany, the Admission to the program is highly competitive. The program UK, the Middle East, and Taiwan, China. receives thousands of applications and admits approximately 400 students each year. The program currently has more than 6,000 alumni. Among them, 87% are vice presidents or Rigorous Program Administration above, and 59% are presidents or general managers of their Heavy emphasis is placed on maintaining a high-quality organizations. Three EMBA alumni were honored with China program administration. The program offers networking Central Television’s China Economic Figures of the Year Award. opportunities through various social activities including student Over 50 EMBA alumni are deputies of the National People’s orientations, team-building activities, and China tours. Congress or members of the Chinese People’s Political Consultative Conference. More than 300 EMBA alumni are Cohesive Alumni Network founders or CEOs of publicly traded companies in China. The EMBA Alumni Association has 48 regional chapters, 13 class-level Beijing chapters, one TIEMBA chapter, one media chapter, one HR chapter, and one overseas chapter. 2017 - 2018 Tsinghua SEM Programs 41

EMBA Programs

Tsinghua-INSEAD Dual-Degree A Lifelong Network EMBA Program (TIEMBA) Upon successful completion of the program, graduates will be awarded two separate degrees from Tsinghua EMBA and INSEAD MBA for executives, respectively, and also become The Tsinghua-INSEAD Dual-Degree EMBA Program was jointly alumni of both Tsinghua University and INSEAD, securing launched by Tsinghua SEM and INSEAD in 2006. an exceptional opportunity to build a lifelong professional Combining international business education with a focus network spanning the continents. on , the joint program is designed for executives and professional managers worldwide. A Leading Global Position

Degrees from Two Globally Recognized On October 19, 2015, Financial Times announced the result Institutions of the top 100 Executive MBA program rankings for 2015. The Tsinghua-INSEAD Dual-Degree EMBA Program was The program is designed to offer participants the best of both ranked No.1 globally. It marked the first time that a program institutions. The program runs across Beijing, Singapore, that includes a mainland Chinese business school has , and , providing unparalleled occupied the top position. In 2016, the TIEMBA program multicultural perspectives and insights into some of the most was ranked No. 2 globally by Financial Times. This marked dynamic regions of the world. Bridging East-West business the fifth year that the TIEMBA program participated in the wisdom and expertise with rigorous study, the program Financial Times ranking (having placed No. 4 in 2012, No. endeavors to broaden participants’ strategic vision, taking 2 in 2013 and No. 3 in 2014). This consistency indicates the professional management and entrepreneurship to greater program’s global recognition, and its rankings in the past five heights at the international level. As a highlight of the program, years testify to its reputable global position. participants also receive personal Leadership Development coaching and go through the reciprocal Executive Exchange to draw from fellow participants’ management expertise. Tsinghua SEM 2017 - 2018 42 Programs

Collaborative Degree Programs

Tsinghua SEM offers collaborative degree programs in Tsinghua-ENAC Specialized Master partnership with overseas universities. Graduates of such programs are granted degrees from partner universities and Program in Aviation Management certificates from Tsinghua University. (Air Transport Management / Airport Management) Tsinghua University-The Chinese University of Hong Kong MBA Program An executive graduate program specialized in Aviation in Finance (FMBA) Management jointly developed by Tsinghua SEM and l’Ecole National de l’Aviation Civile (ENAC) in 2014, this program brings modern industrial management theories and analytical This program aims to foster talents who know China’s market methods into aviation management and enhances scientific well and who hold a global perspective, pride themselves on and systematic management skills of top management while extensive financial knowledge and management skills, and are integrating business administration theories and aviation well-prepared to take the lead in the global financial industry in management practices. The program endeavors to inculcate the the near future. management theory and aviation expertise required for the rapid Jointly offered by Tsinghua SEM and CUHK Business development of the aviation industry in China. School, the FMBA Program is the first MBA program in China specializing in finance. Its curriculum is designed to reflect Tsinghua-Sotheby’s Master’s Program the rapid growth of the global financial industry and is closely in Art Business connected with the reform and development of China’s capital market. The program first launched a module in 2000 in This program is targeted at future leaders in Western and Tsinghua University’s home city of Beijing, followed by the Chinese art markets, equipping them with both managerial skill second module established at the Graduate School of Tsinghua sets and global insight in the sector. University, Shenzhen. So far, over 1,000 professionals with strong academic performance and work experience have Jointly developed by Tsinghua SEM, Tsinghua Academy of Arts graduated from these two modules. & Design, and Sotheby’s Institute of Art in 2015, the Tsinghua- Sotheby’s Master’s Program in Art Business is the first program Tsinghua-ENAC-ENPC Executive MBA in China that awards an MA degree in Art Business under the accreditation of the Ministry of Education. The module-based Program Specialized in Aeronautics program provides academic lectures, panel discussions, and and Aviation Management (TEE-EMBA) guided visits to art-related institutions, featuring overseas modules in New York, London, and Los Angeles as well as The program was developed by Tsinghua SEM in partnership thesis supervision. Scholarships are available for candidates with l’Ecole National de l’Aviation Civile (ENAC) and L’Ecole demonstrating excellence, and the program has established Nationale des Ponts et Chaussées (ENPC) in 2014 and practice bases that offer internships to outstanding students. is the first program of its kind in China. Consistent with EMBA program standards at Tsinghua SEM, it incorporates professional disciplines and courses in advanced and professional management knowledge and skills that are suitable for both China and the global market. The program provides a complete range of higher education and advanced training courses to develop corporate executives with oriental and Western management theory, strategic thinking, and a global perspective. 2017 - 2018 Tsinghua SEM Programs 43

Executive Education Programs

Tsinghua SEM Executive Education offers a variety of non- School’s curriculum plan. Executive Education provides general degree management training programs to help executives courses which include General Management Courses, Global enhance leadership capacity, expand career potential, and Development Courses, and special topics courses as well as ensure sustainable development of their organizations. It serves customized programs and management courses for executives as a lifelong platform for entrepreneurs and executives to learn of domestic and overseas enterprises. and grow. Courses Program Objectives Executive Education delivers innovative, globally relevant Executive Education aims to provide high-quality, globally frameworks that address the issues senior executives face. oriented and tailor-made management education for senior Capitalizing on strong faculty teaching and research capabilities, executives from enterprises and organizations. Executive Education offers courses that combine management theories with practices, provide new ideas to help executives Program Features tackle management challenges, and offer best practices on managing Chinese enterprises. The SEM Advisory Board was a key advocate for the Executive Education has offered training to more than 70,000 establishment of the Center for Executive Education in late senior executives and continuously innovates its course 2001. Executive Education seeks to integrate non-degree offerings to incorporate cutting-edge management knowledge executive education programs in a way that aligns with the and to best serve the needs of corporate executives.

Courses

Classic Programs • Advanced Management Program • Manager Development Program

• Executive Program for the Family Successors - Young, Elite, Sharing (YES) • Tsinghua-CEIBS-HBS Senior Executive Program for China (SEPC) • Executive Management Training Program (EMT) • Manager Development Program (MDP) Industry Programs • Tsinghua Advanced Management Program in Automobile Industry • Tsinghua SEM-IFM Advanced Management Program in Fashion and Luxury • Tsinghua Advanced Management Program in Sporting Industry

Specialized Executive • Business Models and Value Creation - Design, Upgrade and Landing Programs • Corporate Governance, Equity Incentives and Group Control • New Roles, Responsibilities and Skills of Human Resources • Innovative Leadership for Business Transformation • Approaches to Business Strategic and Leadership under “Internet+” • Big Data and Business Innovations in a Global Internet Era • Strategic Decisions and Implementation • Marketing Positioning and Excellence Brand Building • New Opportunity of FinTech • Private Equity Investment and Financing • Securities, Funds and Financial Derivatives

• CEO Strategic Finance and Corporate Financing • Financial Risk Management and Innovations • Global Asset Allocation and Wealth Management Customized Programs • Custom programs for companies of various types and growth stages Tsinghua SEM 2017 - 2018 44 Programs

Tsinghua x-lab

Launched on April 25, 2013, Tsinghua x-lab is a university-based Tsinghua x-lab offers the Tsinghua Innovation and platform facilitating creativity, innovation and entrepreneurship. Entrepreneurship Certificate Program, which is open to all Initiated by the School of Economics and Management, Tsinghua students. Students receive the certificate upon Tsinghua x-lab was jointly established by 15 schools and completion of all three modules. departments of Tsinghua University (including Tsinghua SEM, Tsinghua x-lab launched 22 new courses, including School of Information Science and Technology, School of Public Entrepreneurial Marketing Practices and Design Thinking, and Policy and Management, and others) as well as five strategic organizes eight workshops per academic year. Tsinghua x-lab partners (Tsinghua Science Park, Tsinghua Holdings, Tsinghua also introduces the TechMark courses to its students. Entrepreneur & Executive Club, Sheng Jing Group, and Zhongguancun Development Group). - Team-Building Platform Tsinghua x-lab admits new teams and offers them a wide Mission and Value Proposition array of resources across all development stages. Tsinghua x-lab holds supporting events each year and organizes The letter “x” in “x-lab” signifies the “exploring unknown” monthly Demo Days and Team Recruitment Day activities to and “cross-disciplinary collaboration” approach incorporated help teams attract investment and talent. across multiple academic disciplines. The word “lab” denotes experiential-learning and teamwork. - Cross-Disciplinary Ecosystem and Resource Aggregation Tsinghua x-lab is committed to fostering inter-school and Tsinghua x-lab is working with 23 Entrepreneurs-in-Residence inter-departmental communications across the university, to and 31 Angels-in-Residence who are all active members of integrating various external and internal resources, and to China’s start-up and investment communities. Tsinghua x-lab providing means of actualizing business and social value by has also established partnerships with over 300 domestic and members of the Tsinghua community. overseas investment institutions and invited 12 Professional Firms-in-Residence to provide financial and advisory services Services and Support to teams.

Space Brand and Recognition

Tsinghua x-lab offers a free workspace for project development, Tsinghua x-lab was recognized as the first “Crowd Creativity team building, networking, and other entrepreneurial activities. Space” by the Beijing Municipal Government and as the “Dream The Tsinghua x-lab Three-Prong Platform Lab” by the Zhongguancun Science Park (Z-Park) Management Committee. In a feature story by Financial Times in December Tsinghua x-lab has developed a “three-prong” platform that 2014, Tsinghua x-lab was described as a signal of “the rise of includes an educational platform, a team-building platform, China’s entrepreneurial spirit.” and an ecosystem platform for resource aggregation and interdisciplinary practices. International Cooperation - Educational Platform Tsinghua x-lab has established partnerships with various The second-degree undergraduate program in Management at reputable universities and hosts international summer camps Tsinghua SEM offers a track in Innovation, Entrepreneurship, and international exchange programs with the aim of broadening and Leadership that began in the fall semester of 2015 and is students’ horizons and preparing them for the global market. managed by Tsinghua x-lab. 2017 - 2018 Tsinghua SEM Programs 45

Tsinghua SEM X-elerator

Tsinghua SEM X-elerator, founded in January 2015, is a startup Services and Support acceleration platform that embodies the spirit of Tsinghua and provides in-depth integrated service for the growth of global entrepreneurs and startups. Global Entrepreneurial Leaders Club (GEL Club)

Tsinghua SEM X-elerator provides comprehensive services The Club provides valued-added growth capital for selected including entrepreneurial research and development (R&D), members and educates the founders to become excellent business design, resource allocation, and business model leaders through intensive training in the “Innovation Lab.” innovation for top innovation projects that are selected into the X-elerator nationally and globally. S&T (Science & Technology) Relay Society Since established, X-elerator has already accelerated over The S&T Relay Society aims to promote scientific and 260 startups. GEL Club, one of the core products of X-elerator, technological transformation at universities and research has invested nearly 100 million RMB into startups. X-elerator institutions. It constructs a new production-education- has set up several “Labs” and “Entrepreneurial Corridors” in research relationship among science & technology creators, vertical fields. entrepreneurs, and investors. It connects technology inventors • Awarded by Beijing Science and Technology Commission as with cutting-edge technology and creative spirit, entrepreneurs Group Innovation Space in September 2015. with rich experience and wide-ranging vision, and investors • Awarded by Zhongguancun Administrative Committee as the with strategic perspective, sharp sense, and executive abilities Innovation Incubator in November 2015. to build a talent community for science and technology commercialization. • Authorized by Haidian Government as the Centralized Office Area (Coworking Space) for technology companies in December 2015. X+Space • Inducted into the National Incubator Management Service Based on the concept of collaborative culture, a new-generation System for science and technology enterprises by the working-space is provided to accelerate the growth of startups Ministry of Science and Technology in February 2016. and to attract entrepreneurs from all over the world to enjoy innovative atmosphere and resources. • Awarded by Zhongguancun Inno-Way as the Best Entrepreneurial Education Organization in June 2016. Mentors Club

In the Mentors Club, deeply rooted experts guide the maturation of entrepreneurs’ thinking. Masters in all walks of life assist young talents to set their value orientation and establish their unique competitive advantages to become next- generation entrepreneurs with global vision.

Action Leaning Center

The Action Leaning Center helps entrepreneurs experience problems existing in the entrepreneurship process and pursue solutions, reduce the cost of trial and error, and help them transform great entrepreneurial dreams into implementable action plans. Tsinghua SEM 2017 - 2018 46 Research

Research

Research Overview

Over the past three decades, Tsinghua SEM has conducted academic research in economics and management. Based on academic and economic priorities as well as teaching and research, the School has also actively pursued applied research in areas relevant to the government and corporate sectors. Excellent research capability has made SEM one of the leading schools of economics and management in China.

On the National List of Developing - 2 projects in the Science Fund for Creative Research Groups World-Class Disciplines funded by the National Natural Science Foundation of China

- 9 projects in the National Natural Science Funds for Distinguished Management Science and Engineering Young Scholars

Business Administration - 4 projects in the Excellent Young Scientists Fund

Accounting and Finance In the past few years, on average each year:

Economics and Econometrics - National Natural Science Foundation: 20+ projects

- National Social Science Fund: 2 projects

Research Projects - National Strategic and Soft Science Projects: 2 projects

As of September 2017, Tsinghua SEM has undertaken 393 research projects funded by the National Natural Science National Research Centers Foundation of China and over 500 projects for a variety of government ministries and commissions, among which: Key Research Institute of Humanities and Social Sciences in Universities (Ministry of Education) - 3 projects in the Major Program funded by the National Natural Science Foundation of China - Research Center for Contemporary Management - 1 project in the Major Research Plan Program funded by the - Research Center for Technological Innovation National Natural Science Foundation of China

- 2 projects in the Major International (Regional) Joint Research Publications Program funded by the National Natural Science Foundation of China Papers: Average over 300 per year Books: Average over 30 per year - 2 projects in the Major Program funded by the National Social Science Fund of China 2017 - 2018 Tsinghua SEM Research 47

Major Research Projects (Past 10 Years)

Principal Project Title Source of Funding Starting Investigator Year

BAI Chong-en China’s International Financial Integration-Impact on International (Regional) Cooperation and Exchange 2017 Financial Development and Stability Programs, National Natural Science Foundation of China

GAO Xudong The Guangdong Economic Restructuring and Industrial Programs of Joint Funds, National Natural Science 2017 Transformation and Upgrading Based on Innovation Foundation of China Ecosystem

YANG Delin Study on the Institution System for Promoting China’s Key Program, National Social Science Fund of China 2016 Innovative Development

CHEN Yubo User Behavior and Business Innovation in the Era of Key Program, National Natural Science Foundation of 2016 Mobile Internet China

CHEN Jin The Dynamics of Global Value Chain and Innovation Key Program, National Social Science Fund of China 2015 Driven Strategy of China

CHEN Guoqing Investigation and Workshop Organization Funding Major Research Plan Program, National Natural Science 2015 for Steering Experts of Study on Big-Data Driven Foundation of China Management and Decision

LI Daokui China's Historical GDP and Economic Structure: Major Program, National Social Science Fund of China 2015 980-1840

CHEN Jian Research on Business Management in Big Data Era Major Program, National Natural Science Foundation of 2015 China

YAO Dawei Data Analytics and Decisions for Healthcare Key Program, National Natural Science Foundation of 2015 China

CHEN Guoquan Research on Business Organization Management Science Fund for Creative Research Groups, National 2015 System and its Transformation under a Complex Natural Science Foundation of China and Changing Environment

CAO Jing Energy, Environment and Climate Change Economics Excellent Young Scientists Fund, National Natural Science 2015 Foundation of China

CHEN Yubo Marketing and Business Innovation in an Interconnected National Science Fund for Distinguished Young Scholars, 2014 World National Natural Science Foundation of China

CHEN Jian Mobile Recommender Systems in Big Data Era Joint Research Fund for Overseas Chinese Scholars and 2014 Scholars in Hong Kong and Macao, National Natural Science Foundation of China

XUE Jian The Production and Effects of Accounting Information Excellent Young Scientists Fund, National Natural Science 2014 Foundation of China Tsinghua SEM 2017 - 2018 48 Research

Principal Project Title Source of Funding Starting Investigator Year

XU Xin Firm-Level Information Management-Applications and National Science Fund for Distinguished Young Scholars, 2013 Implications of Information Technology in Enterprise National Natural Science Foundation of China Management

XIAO Yongbo Demand Management Strategy Excellent Young Scientists Fund, National Natural Science 2013 Foundation of China

CHEN Jian Theory and Methodology of Supply-Chain Modeling, Key Program, National Natural Science Foundation of 2013 Optimization and Coordination in the Low Carbon Era China

YANG Bin Strategic Leadership Study of Chinese Companies: The Key Program, National Natural Science Foundation of 2013 Model and Its Validity of Collective Leadership China

LEI Jiasu Route and Strategic Research Based on Scientific Study Key Program, National Social Science Fund of China 2012 on Self-Innovation in Technology

CHEN Guoquan Research on Business Organization Management System Science Fund for Creative Research Groups, National 2012 and its Transformation under a Complex and Changing Natural Science Foundation of China Environment

CHEN Guoqing The Growth Patterns and Key Factors for SMEs on Major International (Regional) Joint Research Program, 2012 Emerging e-Business Platforms National Natural Science Foundation of China

LI Hongbin Economic Analysis and Policy Study on the Gender Ratio National Science Fund for Distinguished Young Scholars, 2011 Imbalance National Natural Science Foundation of China

BAI Chong-en Chinese Citizens' Income Distribution Mode and Reform Major Program, National Social Science Fund of China 2010 Scheme during the Twelfth Five-year Plan

CHEN Guoqing Research on Major Fundamental and Technological Issue Major Program, National Natural Science Foundation of 2009 in Emerging e-Business China

HUANG Jinghua Research on the Information Systems Adoption, Diffusion Key Program, National Natural Science Foundation of 2009 and Business Value China

LI Zinai The Study about the Methodology Foundation of Key Program, National Social Science Fund of China 2008 Econometric Models

YANG Baiyin A Multi-Level Study of the Impacts of Organizational National Science Fund for Distinguished Young Scholars, 2008 Culture on Employees' Creativity and Organizational National Natural Science Foundation of China Innovativeness

TONG Yunhuan Study on BOP Market Oriented Technology and Business Major International (Regional) Joint Research Program, 2008 Innovation Models National Natural Science Foundation of China 2017 - 2018 Tsinghua SEM Research 49

Selected Papers Published on Tsinghua SEM List of International Journals in 2016

Department Author from SEM Title of Paper Publication

Accounting LI Dan An Analysis of Us Accounting Firms’ Cross- China Journal of Country Audit Quality of China Concepts Stocks Accounting Studies

XIAO Xing Financial Reporting Quality of Chinese Reverse Accounting Review Merger Firms: The Reverse Merger Effect or the Weak Country Effect?

Economics CAO Jing Household Energy Demand in Urban China: Energy Journal Accounting for Regional Prices and Rapid Income Change

LI Mingzhi Advertising versus Brokerage Model for Online Management Trading Platforms Information Systems Quarterly (MISQ)

SHI Xinzheng; The Retirement Consumption Puzzle Revisited: Journal of WU Binzhen Evidence from the Mandatory Retirement Policy in Comparative China Economics

ZHENG Jie; Preference Submission Timing in School Choice Experimental ZHONG Xiaohan Matching: Testing Fairness and Efficiency in the Economics Laboratory

Finance JIANG Lei; Influential Investor in Online Stock Forum International Review Lee Hoan soo of Financial Analysis

LI Daokui How will China Shape the World Economy? China Economic Review

PANG Jiaren Exchange Rate Regimes and Wage Comovements Journal of in a Ricardian Model with Money International Economics

SHEN Tao Investment and the Weighted Average Cost of Journal of Financial Capital Economics

ZHU Yingzi A Trend Factor: Any Economic Gains from Using Journal of Financial Information over Investment Horizons? Economics

Innovation, CHEN Jin Strategic Transformation through Innovation in International Journal Entrepreneurship and Strategy Emerging Industry: A Case Study of Technology Management

CHEN Jin Typical Mode and Characteristics of Reverse International Journal Innovation: A Multiple Case Study on Five of Technology Enterprises Operated in China Management Tsinghua SEM 2017 - 2018 50 Research

Department Author from SEM Title of Paper Publication

Innovation, CHENG Yuan Operational Impact of Service Innovations in Multi- Production and Operations Entrepreneurship step Service Systems and Strategy Management

LEI Jiasu Catching-Up Pattern Among Countries in Science- Journal of Industrial Based Industries: A Case Study in Pharmaceutical Integration and Management Industry

LI Jizhen Collaboration with Foreign Universities for International Journal of Innovation: Evidence from Chinese Manufacturing Technology Management Firms

WANG Yi Dynamic Capabilities and Entrepreneur Community: Technology Transfer and The Case of Crown Bioscience Entrepreneurship

XIE Zhenzhen Governance Structure and the Creation and Management International Protection of Technological Competencies: Review International R&D Joint Ventures in China

YANG DeLin Does Institutional Change in Universities Influence Organization Science High-Tech Entrepreneurship? Evidence from China’s Project 985

ZHANG Wei; Overcome the Liability of Newness: Entrepreneurial Research Policy Steven White Action and the Emergence of China’s Private Solar Photovoltaic Firms

Leadership CHI Wei Can Genes Play a Role in Explaining Frequent Job Journal of Applied and Changes? An Examination of Gene-Environment Organization Psychology Management Interaction from Human Capital Theory

WANG Lei; To Branch out or Stay Focused? Affective Shifts Journal of Applied ZHENG Xiaoming Differentially Predict Organizational Citizenship Psychology Behavior and Task Performance

YANG Baiyin Leader-Member Exchange Differentiation and Human Relations Team Creativity: An Investigation of Nonlinearity

ZHANG Jiayin A Lack of Security or of Cultural Capital? Social Forces Acculturative Conservatism in the Naming Choices of Early 20th-Century U.S. Jews

ZHENG Xiaoming Teamwork Works Best When Top Performers are Harvard Business Review Rewarded

ZHENG Xiaoming Recognizing “Me” Benefits “We”: Investigating Journal of Applied the Positive Spillover Effects of Formal Individual Psychology Recognition in Teams 2017 - 2018 Tsinghua SEM Research 51

Department Author from SEM Title of Paper Publication

Management CHEN Guoqing; Providing Consistent Opinions from Online Informs Journal on Science and Engineering GUO Xunhua; Reviews: A Heuristic Stepwise Optimization Computing WEI Qiang Approach

GUO Xunhua; Predicting the Incremental Benefits of Online Decision Sciences WEI Qiang; Information Search for Heterogeneous CHEN Guoqing Consumers

LI Bo Hierarchical Models for the Spatial-Temporal International Journal Carbon Nanotube Height Variations of Production Research

LIU Hongyan SocoTraveler: Travel-Package Recommendations Information & Leveraging Social Influence of Different Management Relationship Types

WEI Qiang; A Novel Bipartite Graph Based Competitiveness ACM Transactions on CHEN Guoqing; Degree Analysis from Query logs Knowledge Discovery GUO Xunhua from Data

WEN Zhong; LIN Lihui Optimal Fee Structures of Crowdsourcing Decision Sciences Platforms

XIAO Yongbo; Value Management of Diagnostic Equipment with Naval Research ZHU Yan Cancelation, No-Show, and Emergency Patients Logistics

Marketing CHEN Rong The Role of a Model’s Race in Influencing Asian Business & Chinese Consumers’ Product Perception Management

LI Fei A Review on the Formation and Development of International the Relationship Marketing Theory Journal of Business Research and Management

LIU Xia; LUO Ting What Drives a Firm’s Choice of Product Recall Journal of Marketing Remedy? The Impact of Remedy Cost, Product Hazard, and the CEO

YU Dongling Love for One’s Country or Oneself: A Brand- Social Behavior and Choice Framework in Emerging Markets Personality Tsinghua SEM 2017 - 2018 52 Research

China Journal of Economics China Business Case Center

ISSN 2095-7254 Launched in 2014, China Journal of CN 10-1175/F Tsinghua SEM is the first academic institute in China dedicated Economics is an academic journal in 经济学报 to promoting the in business education and China Journal of Economics

the field of economics. The Journal 4 sharing knowledge and expertise in case writing, teaching, 第4卷 第1期 (总第13期) 2017年3月 1 特稿 publishes original research articles 理解经济学研究 and learning. 钱颖一 13 文章 国家间政治关系对行业贸易的影响：基于中国的经验研究 杜映昕 郭美新 余心玎 in Chinese on general economic 2017 空间外溢效应与区域经济增长：基于本地利用能力的分析 龚维进 徐春华 老龄化背景下居民消费支出结构的影响因素分析 3 The China Business Case Center houses a collection of 武康平 徐豪熠 杨超 土地政策、供地结构与房价 张莉 年永威 皮嘉勇 周越 issues as well as on China-specific 连锁董事网络对公司风险承担的影响 刘衡 苏坤 人格、价值观、教育与保险需求 close to 600 cases about Chinese companies with an annual 王向楠 外资在华并购的劳动力市场效应：基于匹配与双重差分的企业层面估计 topics. China Journal of Economics 吕若思 黄灿 刘青 胡海燕 addition of more than 50 new cases. The case collection spans 清华大学经济管理学院 encourages independent经济学报 and 微信号：cje-sem 定价：48.00元 a wide spectrum of industry sectors and academic disciplines, objective research and advocates including strategy, innovation and entrepreneurship, accounting rigorous methodologies. It serves to and control, finance, operational management and information make contributions to China’s economic systems, human resources and leadership, and marketing, research and analysis. among others. The case collection is subscribed by close to 900 educational institutions in China. Many companies and financial institutions also apply the cases in their internal training.

Tsinghua Business Review The China Business Case Center has established strategic partnerships with Harvard Business Publishing, the Case Center in , and SAGE Publishing Group for global case Launched in April 2011, Tsinghua distribution. As of August 31, 2017, 47 Tsinghua cases have Business Review is a management been distributed online by Harvard Business Publishing. magazine published in Chinese. The China Business Case Center provides two workshops each Tsinghua Business Review aims to year on case development and teaching for business educators provide innovative ideas for business across the country. leaders, bridge the gap between management research and practices, and provide rigorous, objective, and in-depth analysis and new insights on Chinese management issues. 2017 - 2018 Tsinghua SEM Research 53

Research Support

Library Information Technology and Services Platform Established in 1985, the Tsinghua SEM library has a floor area of 900 square meters and houses a collection of more than Tsinghua SEM embarked on a major IT project in 2009 that aims 100,000 books in Chinese and over 10,000 books in foreign to empower education with technological innovation. The project languages. Approximately 6,000 new books are added to the was completed in 2013. Building upon a deep understanding collection each year. The School makes substantial investments of the demands of the modern classroom and the needs of to expand subscriptions to leading Chinese and international today’s students and educators, the new information technology academic journals, newspapers, and magazines across the and services platform is intended to provide an efficient, broad areas of economics and management. The SEM library cost-effective and user-friendly platform for communication, currently subscribes to 600 periodicals, including 160 in foreign knowledge exchange, and resource sharing. languages. It also seeks to facilitate admissions, teaching, research, and In recognition of the growing trend towards digitalization, the other school activities. The School’s buildings are fully equipped SEM library and other Tsinghua libraries now provide faculty and with wireless Internet access. Internet and teleconferencing students access to a wide spectrum of online databases and systems enable faculty and students to engage in intellectual digital content. The SEM library has now become a digitalized, activities anytime and from any location. A comprehensive suite research-oriented modern library that supports the research and of statistical software including SPSS, Mathematica, STATA, study of faculty and students. GAUSS, and Scientific Work Place are also available on the new platform to support faculty research and teaching. Tsinghua SEM 2017 - 2018 54 International Collaborations

International Collaborations

Membership in International Organizations

AACSB 2002 Tsinghua SEM became a member of the Association to Advance Collegiate Schools of Business (AACSB) 2007 Tsinghua SEM obtained AACSB accreditation and became the first school on the Chinese mainland with AACSB accreditation 2012 Tsinghua SEM became the first school on the Chinese mainland to achieve AACSB maintenance of accreditation Tsinghua SEM hosted the 2012 Asia Pacific Annual Conference 2017 Tsinghua SEM successfully maintained its AACSB Business Accreditation

AAPBS 2004 Tsinghua SEM participated in initiating the Association of Asia-Pacific Business Schools (AAPBS) 2005 Tsinghua SEM hosted the First Annual Conference of AAPBS

CEMS 2006 Tsinghua SEM became an Associate Academic Member of the Community of European Management Schools (CEMS) 2011 Tsinghua SEM joined CEMS, becoming the only Chinese school with CEMS membership 2014 Tsinghua SEM hosted the annual Strategic Board meeting

EFMD 2006 Tsinghua SEM became a member of the European Foundation for Management Development (EFMD) 2008 Tsinghua SEM was awarded EQUIS accreditation by EFMD 2011 Tsinghua SEM was re-accredited by EFMD and maintained its EQUIS label

Executive MBA 2003 Tsinghua SEM became a member of the Executive MBA Council Council 2004 Tsinghua SEM hosted the Asia regional meeting 2014 Tsinghua SEM hosted the Asia regional meeting

GMAC 2008 Tsinghua SEM became a member of the Graduate Management Admission Council (GMAC)

PIM 2005 Tsinghua SEM became a member of the Partnership in International Management (PIM) 2013 Tsinghua SEM co-hosted the 40th Annual PIM Conference

PRME 2007 Tsinghua SEM participated in the Principles for Responsible Management Education (PRME) initiative

UNICON 2008 Tsinghua SEM became a member of the International University Consortium for Executive Education (UNICON) 2011 Tsinghua SEM hosted the UNICON Annual Conference 2011 2017 - 2018 Tsinghua SEM International Collaborations 55

In-Depth Partnerships and Collaborations with World’s Top Business Schools

HBS HEC Paris INSEAD

Partnerships with Harvard Business School Partnerships with HEC Paris include faculty Partnership with INSEAD in launching the Tsinghua- include co-branding of executive education exchanges, executive education programs, and INSEAD Dual Degree EMBA Program in 2006 programs, faculty exchanges and case MBA dual-degree programs since 1998 development since 2001 Partnership with HEC Paris in launching the dual- degree program of Master in International Finance in 2013

MIT Sloan Stanford GSB Wharton Partnership with MIT Sloan School of Partnership with Stanford Graduate School of Partnerships with the Wharton School of the Management in launching the International MBA Business in launching the Stanford-Tsinghua University of Pennsylvania in faculty exchanges Program in 1996 Exchange Program (STEP) in 2005 since 1997 and student exchanges since 2010

Extensive Overseas Student Exchange Network

As of September 30, 2017, the School has student exchange partnerships with 109 overseas institutions around the globe. In 2017, the School provided around 420 study abroad opportunities for students.

A Partial List North America Europe Asia-Pacific

Babson College Bocconi University Chinese University of Hong Kong

Cornell University (Johnson) Copenhagen Business School Hong Kong University of Science and Technology Duke University (Fuqua) ESADE Business School Indian School of Business McGill University ESSEC Keio University MIT (Sloan) HEC Paris Nanyang Technological University Queen's University Instituto de Empresa Business School National Taiwan University Stanford University Katholieke Universiteit Leuven National University of Singapore UC Berkeley (Haas) London Business School Singapore Management University UC Davis London School of Economics and Political Science Thammasat Business School UNC-Chapel Hill (Kenan-Flager) Manchester Business School University of British Columbia Norwegian School of Economics and Business University of Melbourne University of Illinois at Urbana-Champaign Administration University of Sydney University of Michigan (Ross) RWTH Aachen University Waseda University University of Minnesota (Carlson) St. Petersburg University

University of Pennsylvania (Wharton) University College London Latin America University of Richmond (Robins) University of Cologne

University of Toronto (Rotman) FGV-EAESP University of Western Ontario (Ivey) University of Zurich Pontificia Universidad Catolica de Chile University of Wisconsin-Madison Vienna University of Economics and Business Yale University Tsinghua SEM 2017 - 2018 56 Alumni

Alumni

Tsinghua SEM is fortunate to have a strong alumni community. alumni from non-degree programs. The School has engaged in Alumni play vital roles in building positive awareness of the School a number of initiatives to help alumni stay connected with each and make significant contributions to help transform the School other and with the School, and it also runs an alumni e-newsletter into a world-class higher education institution. The School currently and leverages various social media tools to keep alumni has more than 29,000 alumni from its degree programs, over informed of school news and activities. 2,700 alumni from collaborative degree programs, and over 70,000

Tsinghua SEM Alumni Associations

Structure

By Program Undergraduate Alumni Ph.D. Alumni Association Master's Alumni Association Association

MBA Alumni Association EMBA Alumni Association Executive Education Alumni Association

By Region Shanghai Alumni Association Shenzhen Alumni Association Sichuan Alumni Association

Liaoning Alumni Association

Hong Kong Alumni Southeast Asia Alumni North America Alumni Association Association Association

• Singapore Alumni Association • East US Alumni Association • West US Alumni Association • East Canada Alumni Association Europe Alumni Northeast Asia Alumni • West Canada Alumni Association Association Association

• UK Alumni Association • Japan Alumni Association • France Alumni Association • Korea Alumni Association • Germany Alumni Association

By Specialty Internet Association Entrepreneurship Association Reading Association

Photography Association Outdoor Sports Association Football Association 2017 - 2018 Tsinghua SEM Resource Development 57

Resource Development

To promote the development of educational cause of Tsinghua SEM, improve educational quality and academic level, strengthen the relation between the school and society, the school accepts the voluntary donations from domestic and foreign enterprises, social organizations and individuals. The supporting areas are classified as follows:

Chair Professorship International Collaboration Projects / Academic Meetings

Faculty Development Students / Alumni Events and Activities

Research Centers / Programs In-kind Donations

Infrastructure and Facilities Specific Projects

Scholarship Others

Donors of Chair Professorships

Endowed Chairs Term Chairs Term Chairs (Completed)

Alibaba Foundation AXA Group Esquel Group Apple Inc. China Ocean Shipping (Group) Goldman Sachs Charitable Gift Fund Company (COSCO) (UK) China Construction Bank CITIC Securities Company Limited Merill Lynch & Co. Margaret Liu Collins EMC Computer Systems (China) Co., Freeman Foundation Ltd. Houghton Freeman Flex General Atlantic LLC Lenovo Terry Gou Richard Li Hon Hai Technology Group The Coca-Cola Company Irwin Mark Jacobs Tsinghua Tongfang Co., Ltd. Henry R. Kravis Richard Li PepsiCo Inc. David M. Rubenstein Stephen A. Schwarzman The Starr Foundation Stephen A. Schwarzman Education Foundation Starr International Foundation Tsinghua SEM MBA Alumni Association Tsinghua SEM Undergraduate Alumni Association Zurich Insurance Group MISSION To Advance Knowledge and Cultivate Leaders for China and the World.

ASPIRATION To Be a World-Class School of Economics and Management.

CORE VALUES Integrity Dedication Respect

For more information, scan the code and visit Tsinghua SEM official website. http://www.sem.tsinghua.edu.cn School of Economics and Management Tsinghua University Beijing 100084, China Tel: (8610) 6278 5515 Fax: (8610) 6278 5876