School of Economics and Management Tsinghua University 2011-2012 to Advance Knowledge and Cultivate Leaders for China and the World

School of Economics and Management Tsinghua University 2011-2012 To Advance Knowledge and Cultivate Leaders for China and the World. 03 Deans’ Messages

04 Tsinghua Overview

06 About Tsinghua SEM

Milestones of Tsinghua SEM 06 Organizational Structure 09 The Advisory Board 10

12 Faculty

32 Programs

Undergraduate Programs 34 Master’s Programs 36 Doctoral Programs 38 MBA Programs 40 EMBA Programs 42 Executive Education 44

46 Research

Research Overview 46 Major Research Projects 47 Selected Papers Published in International Journals in 2010 48 Tsinghua Business Review 50 China Business Case Center 50 Research Support 51

52 International Collaborations

54 Alumni

56 Tsinghua University Centennial Celebration

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 of economics and management. Professor ZHU Rongji Founding Dean (1984-2001)

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 actions. The School combines Professor QIAN Yingyi China roots with global reach, and works to contribute to the Dean (2006-) development of China's economy and society as well as to make an impact in the world. Overview Tsinghua work and study at Tsinghua. Many important international conventions are held work and study at Tsinghua. Many important of renowned figures from various here. The University also welcomes a number state and international organization countries as visitors and speakers, including winners, prominent scholars, and CEOs heads, university presidents, Nobel Prize of multinational corporations. whom became academic masters, state leaders, outstanding business people and whom became academic masters, state leaders, academic legacy and outstanding top talents in a variety of areas. The profound significant achievements in theoretical capabilities of the University have ensured and applied researches. world- of number large a with relations sound established has University Tsinghua scholars and students come to famous universities. More and more overseas in the northwestern part of Beijing. It was established in 1911. With the part of Beijing. It was established in 1911. in the northwestern of “Patriotic and Social Commitment” and the spirit motto of “Self-Discipline been dedicated of Excellence”, Tsinghua University has Contribution, In Search world over the past century. to the well being of both China and the graduated from Tsinghua, many of Till now, more than 180,000 students have ▎ is located institution in China, Tsinghua University A premier higher-education

School of Economics and Management

0 Tsinghua University Establishing Year: 1911 Schools: 16 Departments: 56 Undergraduate Programs*: 66 05 National Priority Disciplines*: 37 Doctoral Programs*: 253 Faculty and Staff: 7234 Members of the Chinese Academy of Sciences: 38 Members of the Chinese Academy of Engineering: 34 Post-Doctoral Researchers: 1,233 Undergraduate Students*: 14,943 Master’s Students*: 14,899 Doctoral Students*: 7,808 National Laboratories*: 2 National Key Laboratories*: 16 National Engineering Laboratories: 5 Province/Ministry-Level Key Laboratories*: 24 Library Collection: 6,340,000 Total Area of the University: 392.4 Hectares

* Including data from Peking Union Medical College, Tsinghua University Tsinghua SEM accredited to grant doctoral degrees in Econometrics and Enterprise Management. The Advisory Board established with ZHU Rongji as Honorary Chairman. Tsinghua SEM accredited to grant doctoral degrees in Business Administration. Professor ZHAO Chunjun becomes the second Dean of Tsinghua SEM. Management Science and Engineering, Technical Economics and Management, and Econometrics named National Priority Disciplines. Tsinghua SEM partners with Harvard Business School to launch the Tsinghua-Harvard Executive Training Program. 1998 ・ 2000 ・・ 2001 ・・・ Economics and Management (Tsinghua SEM) established with ZHU Rongji as founding Dean. Tsinghua SEM accredited to grant doctoral degrees in Systems Engineering and Technical Economics. “Old SEM Building” completed and put into use. Tsinghua SEM begins enrolling students for its pilot MBA program, one of the first in the nation. Tsinghua University School of its International MBA Program in partnership with MIT Sloan School of Management. Tsinghua SEM relocates to new facilities in the Weilun Building, donated by Mr. and Mrs. Quo-Wei Lee. Tsinghua begins enrollment for 1997 ・・ 1986 ・・ 1991 ・ 1984 ・ Tsinghua SEM Tsinghua SEM About Executive education program for high-level managers of state- owned enterprises begins. Department of Economics and Management Engineering established and begins enrolling graduate students. begins. enrollment Undergraduate Department of Economics merged into other universities under a nationwide academic restructuring regime. Department of Economics established. CHEN Daisun appointed as head of Department of Economics. 1981 ・・ 1980 ・ 1952 ・ 1979 ・ 1928 ・ 1926 Milestones of ▎

School of Economics and Management

6 0 Tsinghua University 07

2002 2006 2009 ・Tsinghua SEM officially accredited ・Professor QIAN Yingyi becomes ・New MBA curriculum launched. to offer EMBA Program. the fourth Dean of Tsinghua SEM. ・New undergraduate curriculum ・Shunde Building, funded by a ・Tsinghua SEM accredited to grant launched. contribution from Mr. S.T. Wu, is doctoral degrees in Theoretical completed and put into use. Economics and Applied Economics. 2010 ・Second Degree Program in ・MBA admissions reform initiated. 2003 Economics begins enrollment. ・Masters in Management program ・Tsinghua SEM accredited to launched. grant doctoral degrees in Political 2007 ・Masters in Finance launched. Economy. ・Tsinghua SEM becomes the first ・Tsinghua SEM completes the first school on the Chinese mainland phase of a new IT project. 2004 with AACSB accreditation. ・Tsinghua SEM celebrates its 20th ・Management Science and 2011 anniversary. Engineering, Business ・Tsinghua Business Review ・Department of Enterprise Administration, and Econometrics launched. Management divided into named National Priority Disciplines. ・Founding Dean ZHU Rongji returns Department of Human Resources, ・Tsinghua-INSEAD Dual Degree to SEM upon Tsinghua centennial Department of Marketing and Executive MBA Program begins celebration. Department of Business Strategy enrollment. ・Celebration held for the 85th and Policy. anniversary of the Department of 2008 Economics. 2005 ・Tsinghua SEM accredited under ・Eight doctoral degree programs, ・Tsinghua University Executive Vice- EQUIS, becoming the first business each affiliated to a department of President HE Jiankun becomes the school on the Chinese mainland the School, launched. third Dean of Tsinghua SEM. with both AACSB and EQUIS ・Tsinghua SEM completes the accreditation. second phase of a new IT project.

School of Economics and Management

0 Tsinghua University Organizational Structure

Departments Library and Laboratories Department of Accounting Library Department of Business Strategy and Policy E-Business Laboratory Department of Economics Management Information Systems Laboratory Department of Finance Enterprise Resources Planning (ERP) Laboratory 09 Department of Human Resources and Organizational Behavior Behavior and Communication Laboratory Department of Innovation and Entrepreneurship Department of Management Science and Engineering Administrative Offices Department of Marketing Dean's Office Business Law Teaching and Research Group Faculty Development Office Research Affairs Office Program Offices Human Resources Office Academic Affairs Office Accounting Office MBA Programs Information Technology Office EMBA Programs Logistics Office Executive Education Office of School History Student Affairs Office Research Centers Career Development Center National Center for Economic Research Alumni Office Research Center for Technological Innovation Resource Development Office Research Center for Contemporary Management International Office China Business Research Center Planning and Quality Assurance Office China Business Case Center Office of Communications and Marketing National Entrepreneurship Research Center China Center for Financial Research CPC Offices Center for China in the World Economy CPC Committee Office China Retail Research Center Undergraduate Student Work Office Research Base for Contemporary Management and Technological Innovation Graduate Student Work Office Research Center for Public Assets National Institute for Fiscal Studies China Research Center for Insurance and Risk Management Center for Leadership Development and Research Tsinghua-CDB Research Institute Research Center for Healthcare Management China Data Center Center for Corporate Governance Center for Green Leap Research Center for Enterprise Growth and National Economic Security Research Center for China-Latin America Management Studies Research Center for China’s Industrial Development Center for International Economic Research 10 Tsinghua University School of Economics and Management The Advisory Board

Initiated by SEM’s Founding Dean ZHU Rongji, the Advisory Board of Tsinghua SEM was established in October 2000. Since its establishment, the Advisory Board has met annually to offer advice on the development of Tsinghua SEM.

The Advisory Board has provided tremendous help in the following initiatives: ・ Contributing ideas and formulating strategies to make Tsinghua SEM a world-class school ・ Promoting faculty development at Tsinghua SEM ・ Supporting the establishment of research centers ・ Funding research projects

Honorary Chairman Current Members ZHU Rongji Daniel F. Akerson Founding Dean, School of Economics and Management, Chairman and CEO, General Motors Tsinghua University (1984-2001) Former Premier, State Council, People’s Republic of China Dominic Barton Global Managing Director, McKinsey & Company (1998-2003) Lloyd C. Blankfein Honorary Members Chairman and CEO, the Goldman Sachs Group, Inc. Lord Browne of Madingley Sir John Bond Former Group Chief Executive, BP PLC Chairman, Xstrata PLC Former Chairman, Vodafone Group PLC Henry M. Paulson, Jr. Former Group Chairman, HSBC Holdings PLC Former U.S. Secretary of the Treasury Former Chairman and CEO, the Goldman Sachs Group, Inc. David Brennan CEO, AstraZeneca H. Lee Scott, Jr. Chairman of the Executive Committee of the Board, Wal- Henri de Castries Mart Stores, Inc. Chairman and President, AXA Former President and CEO, Wal-Mart Stores, Inc. CHANG Zhenming WANG Qishan Chairman, CITIC Group Vice-Premier, State Council, People’s Republic of China CHEN Yuan Chairman, China Development Bank Steven A. Denning Muhtar Kent David M. Rubenstein Chairman, General Atlantic LLC President and CEO, The Coca-Cola Co-Founder and Managing Director, the Company Carlyle Group Jamie Dimon Chairman and CEO, J.P. Morgan Chase & Co. Henry R. Kravis Garth Saloner Chairman and CEO, KKR Dean, Stanford Graduate School of Robert Dudley Business Group Chief Executive, BP PLC Richard C. Levin President, Yale University David Schmittlein Michael T. Duke John C Head III Dean, MIT Sloan School of President and CEO, Wal-Mart Stores, Inc. Richard Li Management 11 Chairman and Chief Executive, Pacific Victor K. Fung Century Group Stephen A. Schwarzman Group Chairman, Li & Fung Group of Chairman and CEO, Blackstone Companies Robin Li Founder, Chairman and CEO, Baidu Inc. Martin Senn Christopher B. Galvin CEO, Zurich Financial Services Chairman and Co-Founder, Harrison Street LI Rongrong Capital LLC Former Chairman, State-Owned Sir Howard Stringer Former Chairman and CEO, Motorola Assets Supervision and Administration Chairman, President and CEO, Sony Commission Corporation Carlos Ghosn President and CEO, Nissan Motor Co., Ltd. LIU Chuanzhi John L. Thornton Chairman and President, Legend Holdings Ltd. Guest Professor and Director, Global President and CEO, Renault S.A. Chairman, Lenovo Leadership Program, Tsinghua University Thomas H. Glocer Chairman, Board of Trustees, Brookings CEO, Thomson Reuters LIU Mingkang Institution Former Chairman, China Banking Terry Gou Regulatory Commission Joseph M. Tucci Founder and President, Foxconn Chairman, President and CEO, EMC Technology Group LOU Jiwei Corporation Chairman, China Investment Corporation Maurice R. Greenberg WANG Dazhong Chairman and CEO, C. V. Starr & Co., Inc. Andrónico Luksic Former President, Tsinghua University Chairman, Luksic Group Former Chairman and CEO, AIG Marjorie Yang MA Kai Chairman, Esquel Group Robert Greifeld State Councilor and Secretary-General of the CEO, the NASDAQ OMX Group, Inc. State Council, People’s Republic of China ZHAO Chunjun GU Binglin Former Dean, School of Economics and John J. Mack President, Tsinghua University Management, Tsinghua University Chairman and CEO, Morgan Stanley GUO Shuqing ZHOU Xiaochuan Michael McNamara Chairman, China Securities Regulatory Governor, People’s Bank of China CEO, Flextronics International Commission Nitin Nohria HO Ching Dean, Harvard Business School Executive Director and CEO, Temasek Holdings Indra K. Nooyi Chairman and CEO, PepsiCo Nobuyuki Idei Founder, CEO and Representative Director, Jorma Ollila Quantum Leaps Corporation Chairman, Nokia Corporation Former Chairman and Group CEO, Sony Chairman, Royal Dutch Shell Corporation Vikram Pandit Irwin Mark Jacobs CEO, Citigroup Co-Founder and Director, Qualcomm Inc. Thomas S. Robertson Edward C. Johnson III Dean, the Wharton School of the University Chairman and CEO, Fidelity Investments of Pennsylvania

Faculty

Distinguished Young Scholars. Cheung Kong Scholar Professorships, and six are recipients of the China National Science Foundation for from top Chinese or international universities. Three are “Thousand Talents Program” Professors, six hold including 47 Professors, 63 Associate including 47 Professors, Professors. Professors, and 45 Assistant 143 faculty members have Ph.D.s As of October 2011, Tsinghua SEM As of October 2011, members, has 155 full-time faculty Faculty Full-Time ▎

School of Economics and Management

12 Tsinghua University Department of Accounting

CHEN Xiao Professor, Chair WANG Kun Associate Professor

• BS, 1983, Wuhan Institute of Chemical • BA, 1998, Nankai University Technology • Ph.D., 2003, Hong Kong University of • MS, 1989, University of Science and Science and Technology Technology of China Research Areas • Ph.D., 1996, Tulane University Financial Accounting, Earnings Management, Research Areas Corporate Governance, Ownership Structure 13 Accounting and Capital Market, Corporate Governance, International Taxation, Taxation and Business Strategy, Business Valuation

JIA Ning Associate Professor XIA Donglin Professor, Associate Dean

• BS, 2002, University of Minnesota-Twin • BA, 1984, Jiangxi Institute of Finance and Cities Economics • MS, 2004, Stanford University • MA, 1990, Research Institute for Fiscal • Ph.D., 2007, Stanford University Science, Ministry of Finance Research Areas • Ph.D., 1994, Research Institute for Fiscal Private Equity Funds and Venture Capital, Science, Ministry of Finance Entrepreneurial Finance and Business Research Areas Development Financial Reporting and Corporate Governance, Accounting Standards, Comparative Accounting

LI Dan Associate Professor XIAO Xing Associate Professor, Vice Chair

• BA, 2001, Beijing Institute of Technology • BS/BEng, 1994, Tsinghua University • Ph.D., 2007, Georgia Institute of • MS, 1997, Tsinghua University Technology • Ph.D., 2004, Tsinghua University Research Areas Research Areas Audit Quality, Internal Control, Financial Corporate Finance, Corporate Governance, Accounting, Earnings Management Financial Statement Analysis, Financial Accounting

LUO Mei Associate Professor XIE Deren Professor

• BS, 1998, Tsinghua University • BA, 1993, Xiamen University • Ph.D., 2004, University of California, • Ph.D., 1998, Xiamen University Berkeley Research Areas Research Areas Interdisciplinary Study on Accounting, New Financial Statement Analysis and Equity Institutional Economics and the Theory of the Valuation, Accounting Anomaly, Earnings Firm, Corporate Governance and Executive Management, Securities Market Regulation Incentive, Capital Market and the Setting of Accounting Standards, the Regulation of the Accountancy Profession

LUO Ting Assistant Professor XUE Jian Associate Professor

• BEcon, 1997, Peking University • BS, 1998, Tsinghua University • Ph.D., 2007, University of Wisconsin- • MS, 2000, Tsinghua University Madison • Ph.D., 2006, Carnegie Mellon University Research Areas Research Areas Capital Market and Accounting, Financial Financial Accounting, Role of Information in Accounting, Empirical Assessments of Financial Markets, Financial Analyst Behavior Earnings Quality Chair Vice Professor Associate Professor Professor Associate Professor, Chair Professor, Areas Areas Areas Areas Areas Yongheng Ph.D., 1987, Renmin University of China BS, 1988, Tsinghua University MS, 1990, Tsinghua University Ph.D., 2003, Tsinghua University BS, 1984, Tsinghua University MS, 1987, Tsinghua University Ph.D., 1990, Tsinghua University University Northwest 1979, (equivalent), BS MA, 1982, Northwest University BS, 1980, Jilin University of Technology BS, 1980, Jilin University of of MS, 1983, Chinese Academy Sciences Agricultural and Mechanization of Mining Ph.D., 1989, China University and Technology BS, 1993, Lanzhou University MS, 1996, Lanzhou University Ph.D., 1999, Renmin University of China Research Arrangement of Enterprise Institution, Choosing of Enterprise Strategy, Creation of Corporate Culture, External Choosing of Enterprise, Analysis of Macroeconomic Policy and Indices, Study of Market Economy NING Xiangdong • • • Research Corporate Governance, Strategic Management, the Theory of Firm, Transition Economy of China SHI • • • Research Internationalization and Strategy, International Business Management, Corporate Organization and Governance, International Trade WEI Jie • • • JIN Zhanming • • • Research Selection Strategic Management, Strategic Military under eBusiness Environment, M&A Strategy and Enterprise Competition, and Strategic Alliances LI Donghong • • • Research Theory of Corporate Growth, Strategic Management, Strategic Alliances Dean

Associate

Professor,

Associate Professor Assistant Professor Associate Research Fellow

Areas Areas Areas Areas Jie

BS, 1996, Tsinghua University MBA, 2002, Tsinghua University Ph.D., 2006, the George Washington University BEng, 1994, Tsinghua University MEng, 1997, Tsinghua University Ph.D., 2007, Tsinghua University Wales South New of University 2011, Ph.D., BS, 1988, Southeast University MS, 1991, Southeast University Ph.D., 2002, Tsinghua University BS, 1994, Tsinghua University MS, 1997, Tsinghua University of Ph.D., 2005, Hong Kong University Science and Technology JIAO • • • Research Chinese Firms’ International Acquisition Strategies, International Business Strategy and FDI, Localization Strategies for MNEs, Corporate Social Responsibility, Business- Government Relations Zhirong DUAN • • • • Research Macromarketing, Internationalization ZHOU Li • • • Research Accounting, Public Policy, Corporate Strategy ZHANG Haiyan • • • Research Chinese Firms Corporate Governance of Governance, Listed in Hong Kong, Corporate Accounting and Capital Market

Strategy and Policy Department of Business

School of Economics and Management 4 1 Tsinghua University Department of Economics

WU Rui Assistant Professor BAI Chong-en Freeman Chair Professor of Economics, Chair, Associate Dean • BA, 2001, Peking University • MA, 2003, University of California, Los • BS, 1983, University of Science and Angeles Technology of China • • Ph.D., 2010, University of Southern Ph.D., 1988, University of California, San Diego California • Ph.D., 1993, Harvard University Research Areas Research Areas 15 Public Economics, Economics of Organization Strategic Alliance, Corporate Collaboration, and Incentives, Corporate Governance, Organizational Learning and Experience Development/Transition Economics, Industrial Economics and Chinese Economy

WU Weiku Professor CAO Jing Associate Professor

• BS, 1983, Northeastern University of • BA/BS, 1998, Peking University Technology • MS, 2001, Peking University • MS, 1987, Harbin Institute of Technology • Ph.D., 2007, Harvard University • Ph.D., 1994, Tsinghua University Research Areas Research Areas Energy and Environmental Economics Business Strategy, Competitive Strategy, Leadership, Value Based Leadership, EQ and Leadership

XIE Wei Professor CHEN Zhangwu Professor

• BEng, 1989, PLA Transportation • BS (equivalent), 1970, Tsinghua University Engineering College • MS, 1982, Tsinghua University • Ph.M., 1993, Southeast University Research Areas • Ph.D., 1999, Tsinghua University Western Economics, Management Economics, Research Areas College Education Cost Comparisons Strategic Management, Innovation Management, Business Model, Strategic Alliance

XUE Lei Associate Professor GAO Ming Assistant Professor

• BS, 1982, Tsinghua University • BA, 2001, Tsinghua University • MS, 1988, Tsinghua University • MA, 2003, Tsinghua University • Ph.D., 2010, Tsinghua University • Ph.D., 2010, London Business School Research Areas Research Areas Strategic Management Microeconomic Theory, Industrial Organization, Behavioral Economics, Corporate Governance

YANG Bin Professor, Senior Associate Dean GUO Meixin Assistant Professor

• BS, 1992, Tsinghua University • BA, 2001, Nanjing University • MS/ Ph.D., 2000, Tsinghua University • MA, 2004, Peking University Research Areas • Ph.D., 2010, University of California, Davis Business and Society, Leadership Theory and Research Areas Practice, Business Ethics, Crisis Management, International Macroeconomics/Finance, Management Education International Trade, Applied Econometrics Assistant Professor

Professor Assistant Professor Professor Assistant Professor Areas Areas Areas Areas Areas Lien Wei-Hung BA, 1982, Harbin Normal University MA, 1991, Harbin Normal University Ph.D., 1996, Renmin University of China BA, 1996, Xinjiang University of Finance and Economics MA, 1999, Zhejiang University MA, 2002, University of British Columbia Ph.D., 2008, University of Toronto BA/BS, 2002, Wuhan University Ph.D., 2010, University of Minnesota BS (equivalent), 1970, Tsinghua University BS (equivalent), 1970, Tsinghua MS, 1981, Tsinghua University BA, 2001, Wellesley College MA, 2005, University of California, San Diego Ph.D., 2010, University of California, San Diego Research International Economics, Macroeconomics, Economic Growth and Development Consumer Behavior and Public Policy Policy Public and Behavior Consumer LIU Lingling • • • Research Public Finance of China, Tax Law and Tax System, Macroeconomics, Rural Economy and Fiscal Policy, Transitional Economy and Theory of Modernization, Economic Game Theory and Design of the Fiscal System LIU Qing • • • • Research Monetary Theory, Macroeconomics LU Lin • • LI Zinai • • Research of Econometrics; Theory and Methodology Policy; Macroeconomic Model and Area Issues Agriculture, Farmer and Rural Jaimie • • • Research Economics, Behavioral Microeconomics, Applied Associate Professor Professor Starr Chair Professor C.V. Associate Professor Assistant Professor Areas Areas Areas Areas Areas BS, 1987, Nankai University MS, 1990, Shanghai Jiaotong University Ph.D., 1999, the University of Texas at Austin BS, 1993, China Agricultural University Ph.D., 2001, Stanford University BS, 1982, Nanjing University MS, 1988, Tsinghua University Ph.D., 1995, Pennsylvania State University BA, 2002, Nankai University MA, 2004, University of British Columbia Ph.D., 2010, Indiana University BS, 1982, Nankai University MS, 1984, Nankai University LI Mingzhi • • • Research Industrial Organization, Electronic Commerce Research Monetary Economics, Applied Macro- econometrics, Open Economy Macroeconomics LI Hongbin • • Research Development Economics, Labor Economics, Transition Economics, Chinese Economy • • • Research International Trade, International Finance, Industrial Organization LI Bing • • • HAN Xiuyun • • Research Economics, Political Economics, Western Economics, Theory and Practice of Socialist China and the World Economy JU Jiandong

School of Economics and Management 6 1 Tsinghua University MA Hong Assistant Professor QIAN Yingyi Professor, Dean

• BA, 2002, Fudan University • BS, 1982, Tsinghua University • MA, 2004, University of California, Davis • MA, 1982, Columbia University • Ph.D., 2009, University of California, Davis • MPhil, 1984, Yale University Research Areas • Ph.D., 1990, Harvard University International Economics, Industrial Economics, Research Areas Applied Microeconomics Comparative Economics, Institutional 17 Economics, Economics of Transition and Development, Chinese Economy

MENG Lingsheng Assistant Professor QIAO Xue Assistant Professor

• BA, 2002, Peking University • BA, 1998, Peking University • MPhil, 2004, Chinese University of Hong • Ph.D., 2007, Iowa State University Kong Research Areas • Ph.D., 2010, University of Maryland, Macroeconomics, Contract Theory, College Park Unemployment Insurance Research Areas Development Economics, Public Economics, Labor Economics

OUYANG Min Associate Professor SHI Xinzheng Assistant Professor

• BA, 2000, Peking University • BA, 2000, Peking University • MA, 2003, University of Maryland at • MA, 2003, Peking University College Park • Ph.D., 2009, University of Michigan • Ph.D., 2005, University of Maryland at Research Areas College Park Development/Transition Economics, Public Research Areas Economics, Applied Econometrics, Chinese Macroeconomics, Industrial Organization, Economy Labor Economics

PAN Wenqing Associate Professor WANG Ruqu China Construction Bank Chair Professor • BS, 1987, Northwest Normal University • MS, 1993, Lanzhou University • BS, 1985, Fudan University • Ph.D., 1999, Renmin University of China • MA, 1989, Boston University • Ph.D., 1991, Boston University Research Areas Quantitative Economics, Macroeconomics, Research Areas International Economics Microeconomics, Auction Theory and Game Theory

QI Liangshu Associate Professor WEN Yi China Construction Bank Chair Chair Chair Professor • BS, 1993, Nankai University • MS, 1996, Peking University • BS, 1982, West China University of Medical • Ph.D., 1999, Peking University Sciences • MA, 1991, University of Notre Dame Research Areas • Ph.D., 1996, University of Iowa Health Economics, Development Economics Research Areas Macroeconomics Professor Associate Professor, Associate Professor, Vice Chair Vice Assistant Professor

Assistant Professor Areas Areas Areas Areas MS, 1985, Renmin University of China Ph.D., 1995, Tsinghua University BS, 1994, Tsinghua University MS/Ph.D., 1999, Tsinghua University BS, 1982, University of Science and Technology of China BEng, 2003, Renmin University of China BEng, 2003, Renmin University of Economics MSc, 2005, London School MA, 2007, Brown University Ph.D., 2011, Brown University BA, 2003, Tsinghua University MA, 2005, Tsinghua University Louis St. in University Washington 2007, MA, Ph.D., 2011, Washington University in St. Louis

• • Research Risk Management and Insurance, Enterprises Risk Management, Pension, Insurance-linked Securitization Organization, Mathematical Economics, Financial Economics, Experimental Economics ZHONG Xiaohan • • Research Applied Microeconomics, Development Economics, Political Economy, Labor Economics, Chinese Economy CHEN Bingzheng • ZHAN Zhaoguo • • • • Research Econometrics, Applied Econometrics ZHENG Jie • • • • Research Microeconomic Theory, Industrial Department of Finance Assistant Professor Professor

Assistant Professor Associate Professor White Assistant Professor Areas Areas Areas Areas Areas Yuan BS, 1986, Renmin University of China MS, 1989, Chinese Academy of Social Sciences Ph.D., 1997, Chinese Academy of Social Sciences BS, 2002, Fudan University Ph.D., 2009, University of California, Davis BEng, 1998, Xi’an Jiaotong University MA, 2001, Peking University Ph.D., 2006, University of Wisconsin- Madison BS, 1982, Northwest University MS, 1985, Northwest University Ph.D., 1989, Chinese Academy of Sciences BA, 2005, Columbia University BA, 2005, Columbia University of Economics MA, 2006, Toulouse School Economics of School Toulouse 2010, Ph.D., Siqun YANG • • • Research Economic Analysis of Investment and Consumption, Theory of Security Investment Research Microeconomics, Macroeconomics, Economic Growth XU • • Research Macroeconomics, Monetary Economics, Financial Economics, Applied Time Series Econometrics, International Finance • • • Research Public Economics, Economics of Education, Applied Microeconomics WU Kangping • • • Alexander C. • • • Research Industrial Organization, Microeconomic Internet Theory, Economics of the WU Binzhen

School of Economics and Management 8 1 Tsinghua University CHEN Taotao Professor HE Ping Associate Professor

• BS, 1988, Tsinghua University • BEcon, 1997, Tsinghua University • MS, 1991, Research Institute for Fiscal • MA, 2002, University of Pennsylvania Science, Ministry of Finance • Ph.D., 2004, University of Pennsylvania • Ph.D., 2003, Tsinghua University Research Areas Research Areas Financial Institution, Monetary Economics, FDI Spillovers, Globalization and Strategy, Corporate Finance 19 International Economics and Management, Corporate Finance, Business Valuation and Valuation of Intangibles

CHEN Yunling Assistant Professor HUANG Zhangkai Associate Professor

• BA, 2002, Fudan University • BA, 1998, Guangdong University of • Ph.D., 2010, Hong Kong University of Foreign Studies Science and Technology • MS, 1999, University of Essex Research Areas • Ph.D., 2003, University of Oxford Corporate Finance, Financial Market, Research Areas Corporate Governance Corporate Finance, Financial Market and Institution

DENG Yinglu Assistant Professor JIANG Lei Assistant Professor

• BA, 2004, Peking University • BA, 2003, Harbin Institute of Technology • MA, 2006, Peking University • MA, 2005, Harbin Institute of Technology • MA, 2010, University of Texas at Austin • MA, 2006, University of Virginia • Ph.D., 2011, University of Texas at Austin • Ph.D., 2011, Emory University Research Areas Research Areas Asset Valuation, Quantitative Finance, Risk Empirical Asset Pricing, Stock Market Management, Insurance Microstructure, Corporate Finance, Monetary Policy

GAO Feng Assistant Professor LI Daokui Freeman Chair Professor of Economics, Chair • BS, 1999, Tsinghua University • Ph.D., 2006, Tsinghua University • BEng, 1985, Tsinghua University • Ph.D., 1992, Harvard University Research Areas Finance Econometrics, Asset Pricing, Risk Research Areas Management Development Economics, Corporate Finance, International Economics, Chinese Economy

HAN Xi Assistant Professor LI Jinliang Associate Professor

• BA, 2000, Peking University • BEng, 1997, Tsinghua University • MA, 2002, University of Washington • Ph.D., 2001, Syracuse University • Ph.D., 2007, University of Washington Research Areas Research Areas Market Structure and Control, Investment Venture Capital and Private Equity, Market Behavior and Strategy, Risk Management Microstructure, International Finance, Corporate Finance Professor Professor Associate Professor Associate Professor Assistant Professor Areas Areas Areas Areas Areas Technology BA, 1986, Dalian Foreign Languages Institute MA, 1989, Tsinghua University BS, 1995, Shenyang University of Technology MBA, 2000, Eastern Illinois University Ph.D., 2007, McGill University BEng, 1985, Tianjin University MEng, 1989, Tsinghua University MS, 1993, Massachusetts Institute of BS, 1982, Yale University MA, 1982, Yale University Ph.D., 1987, Harvard University BS, 1970, Peking University MS, 1982, Shanghai Jiaotong University Ph.D., 1988, Tsinghua University • Research Real Estate Finance and Investment, Risk Management, Asset Valuation and Investment Appraisal, Securitization, Real Estate Market Studies and Forecasting, Development Planning for New Urban Areas, Real Estate Brokerage and Marketing WANG Guiqin • • Research Measuring Communication, Corporate Strategic Integration Cultural Communication, Corporate Organizational M&A, Cross-Border in and Development Resource Human Behavior, Marketing Service Financial Management, WANG Hao • • • Research Credit Risk and Derivatives, Fixed Income, Corporate Finance WANG Hong • • Michael R. Powers • • • Research Public Policy, Government Regulation and Risk, Game Stochastic Models of Financial Tax Treatment Theory in Risk and Insurance, of Risk Transfers SONG Fengming • • • Research Financial Engineering, Financial Economics Associate Dean Assistant Professor Assistant Professor Associate Professor Professor, Assistant Professor Areas Areas Areas Areas Areas Yao BA, 2000, Peking University Louis St. at MA, 2004, Vanderbilt University University Washington 2007, Ph.D., BA, 2000, Central University of Finance and Economics MS, 2003, New York University Ph.D., 2009, University of Michigan BS, 1989, Tsinghua University Ph.D., 1996, Tsinghua University MBA, 1999, MIT Sloan School of Management BS, 1999, Tsinghua University MS, 2001, Tsinghua University Ph.D., 2007, University of Toronto BS, 1997, Peking University MS, 1999, Tsinghua University Maryland Ph.D., 2010, University of Capital Market Development and Internationalization Jiaren PANG • • • Research Corporate Finance, Corporate Governance, Financial Markets and Institutions, Empirical Asset Pricing in connection with Corporate Finance and Macroeconomics Research Empirical Finance, Financial Market, Risk Management LU • • • Research Corporate Finance, Corporate Governance, • • • Research Corporate Finance and Corporate Strategy, Private Equity and Venture Capital, Business Model and Entrepreneurial Finance, Merger and Acquisition, Consumer Finance LIU Chun • • • LI Minwen • • • Research Market, Corporate Finance, Financial Composition, Corporate Governance, Board Executive Turnover and Executive Compensation Li LIAO

School of Economics and Management

20 Tsinghua University WANG Jun Associate Professor, Assistant Dean ZHAO Dongqing Associate Professor

• BS, 1995, Northern Jiaotong University • BEng, 1994, Tsinghua University • MS, 1998, Peking University • MA, 1997, Tsinghua University • Ph.D., 2008, Tsinghua University • Ph.D., 2006, Tsinghua University Research Areas Research Areas Corporate Finance, Risk Management and Corporate Finance Insurance, Insurance Economics 21

WANG Yintian Associate Professor ZHU Shiwu Associate Professor

• BA, 1998, Xi’an Jiaotong University • BS, 1983, Henan Normal University • MA, 2000, Queen’s University • MS, 1987, Wuhan University • Ph.D., 2006, McGill University • Ph.D., 1999, Shanghai University of Research Areas Finance and Economics Option Pricing, Credit Derivatives, Research Areas Econometric Modeling, Risk Management Fixed Income, Risk Management, Financial Database, Financial Computation and Modeling

YANG Zhishu Professor ZHU Wuxiang Professor, Vice Chair

• BEng, 1988, Harbin Institute of Technology • BS, 1987, Tsinghua University • MS, 1995, Tsinghua University • MS, 1989, Tsinghua University • Ph.D., 2001, Tsinghua University • Ph.D., 2002, Tsinghua University Research Areas Research Areas Financial Market Microstructure, Behavioral Corporate Finance, Capital Market Finance, Corporate Finance, Banking and Financial Institutions, Econometrics of Financial Markets

ZHANG Lihong Associate Professor ZHU Yingzi Associate Professor

• BS, 1988, Nankai University • BS, 1991, University of Science and • MS, 1991, Nankai University Technology of China • Ph.D., 1999, Chinese Academy of Sciences • MA, 1993, New York University Research Areas • Ph.D, 1997, New York University Mathematical Finance, Stochastic Process, • MBA, 2002, New York University Risk Theory and Risk Management Research Areas Financial Institution, Risk Management, Financial Innovation, Financial Crisis, Asset Pricing, Investment Strategy

ZHANG Taowei Associate Professor ZHU Yujie Professor

• BS, 1984, Tsinghua University • BS, 1992, Tsinghua University • MS, 1987, Tsinghua University • MS, 1994, Tsinghua University • Ph.D., 2000, Tsinghua University • Ph.D., 2005, Tsinghua University Research Areas Research Areas Financial Derivatives Development, Financial Corporate Finance, International Trade, Risk Management, International Finance, Foreign Direct Investment, Globalization International Financial Management, Strategy Corporate Governance

Chair

Professor,

Chair

Assistant Professor Associate Professor Associate Professor COSCO Assistant Professor

Areas Areas Areas: Areas Areas Baiyin

MEd, 1992, University of Saskatchewan Ph.D., 1996, University of Georgia BS, 1993, Harbin Institute of Technology MS, 1996, Harbin Institute of Technology MBA, 1996, Macao University Ph.D., 2003, Tsinghua University BS, 1989, Hangzhou University MS, 1996, Beijing Normal University Ph.D., 1999, Beijing Normal University BS, 1982, Nanjing University BS, 2002, Beijing Normal University BS, 2002, Beijing Normal University University MA, 2005, Beijing Normal of New York Ph.D., 2011, State University at Buffalo BS, 2000, East China Normal University MS, 2004, East China Normal University Ph.D., 2010, Hong Kong University of Science and Technology • • Research Adult and Organizational Learning, Power and Influence Tactics, Cross-Cultural Management, Knowledge Management, Theory-Building Methodology, and Quantitative Research Methods Performance Evaluation, Social Cognition, Social Exchange WANG Xueli • • • • Research Organizational Change, Strategic Human Resources Management, Corporate Culture WU Zhiming • • • Research Human Resource Management, Organizational Behavior YANG • WANG Lei • • • Research Knowledge Leadership, Social Networks, Differences Management in Teams, Cultural WANG Xiaoye • • • Research Chair Vice Professor, Associate Professor Assistant Professor Associate Professor Associate Professor

Areas: Areas Areas: Areas Areas

Wei BS, 1993, Tsinghua University MS, 1997, Tsinghua University Ph.D., 2007, Tsinghua University Ph.D., 2003, University of Minnesota BA, 1983, Boston College MBA, 1988, London Business School Ph.D., 1998, University of Connecticut BA, 2003, Jilin University MA, 2006, Shenzhen University Ph.D., 2011, University of Texas at Dallas BA, 1998, Renmin University of China BS, 1990, Tsinghua University MS, 1991, Tsinghua University Ph.D., 1994, Tsinghua University Management in China QU Qing • • • Research Human Resource Management, Corporate Culture, Leadership • Research Personnel Economics, Labor Economics Sharon Foley • • • Research Diversity in Organizations, Human Resource CHEN Hao • • • Research Supervisor-subordinate Relationship and Outcomes, Work Ethic, Extra-role Behavior, Leadership, Cross-culture Study CHI • CHEN Guoquan • • • Research Organizational Behavior, Organizational Learning, Learning Organization, Management, Organizational Knowledge Management, Organizational Change, Team Leadership

Behavior and Organizational Resources of Human Department

School of Economics and Management

22 Tsinghua University ZHANG Jin Associate Professor GAO Jian Professor, Chair, Assistant Dean

• BS, 1986, Peking University • BS, 1984, Chongqing Institute of • MS, 1989, Peking University Architecture Engineering • MA, 2002, University of Southern California • MS, 1987, Chongqing Institute of • Ph.D., 2004, University of Southern California Architecture Engineering 23 Research Areas • Ph.D., 1996, Tsinghua University Positive Psychology, Subjective Well-Being, Research Areas Employee-Organization Relationship, Human Entrepreneurial Investment, Entrepreneurial Resource Assessment, Research Design and Finance, New Technology Commercialization Multivariate Data Analysis

ZHANG Mian Associate Professor GAO Xudong Associate Professor, Vice Chair • BS, 1993, Xi’an Jiaotong University • Ph.D., 2002, Xi’an Jiaotong University • BEng, 1988, Harbin Institute of Technology • MA, 1991, Renmin University of China Research Areas • Ph.D., 2003, MIT Sloan School of Decision Making and Judgment, Motivation Management Theory, Social Networks, Employee Turnover, Organizational Culture and Leadership, Research Areas Performance Management Competitive Strategy, Technology Strategy, Management of Technological Innovation

ZHENG Xiaoming Associate Professor LEI Jiasu Professor

• Ph.D., 1998, Chinese Academy of Sciences • BS, 1983, Xi'an University of Finance and Research Areas Economics Strategic Human Resource Management, • MS, 1987, Northwestern University HR Competences Model, Recruitment and • Ph.D., 1993, Tsinghua University Selection, Working Emotion and Emotional Research Areas Intelligence, Employees Subjective Well-Being, Entrepreneurship, Corporate Growth, Theory Leadership, Performance Management, of National Economic Security Organizational Learning and Organizational Culture

LI Jizhen Associate Professor

• BEng/BEng, 1997, Tsinghua University • MS/Ph.D., 2002, Tsinghua University Research Areas Department of Innovation Management of Technological Innovation, Science and Technology Policy, Project and Entrepreneurship Management

CHENG Yuan Associate Professor LI Xibao Associate Professor

• BS, 1991, Huazhong University of Science • BS/BS, 1993, Shanghai Jiaotong University and Technology • MA, 1998, Tsinghua University • MS, 1996, Huazhong University of Science • MS, 2001, The Ohio State University and Technology • Ph.D., 2003, The Ohio State University • Ph.D., 2000, Tsinghua University Research Areas Research Areas Management of Technological Innovation, Management and Innovation, Technology Technology-Based Entrepreneurship, Strategy, New Business Development, Knowledge Management Entrepreneurship Associate Dean Associate Professor EMC Chair Professor, Associate Professor Professor Wei Areas Areas Areas Areas MBA, 1988, Catholic University of Leuven Ph.D., 1992, Catholic University of Leuven BEng, 1991, Tsinghua University MEng, 1998, Tsinghua University MEng, 2000, Rensselaer Polytechnic Ph.D., 2006, Tsinghua University BEng, 1982, Renmin University of China BS, 1982, Huazhong Normal University BS, 1982, Huazhong Normal of Sciences MS, 1991, Chinese Academy of Social Ph.D., 1997, Chinese Academy Sciences BS, 1995, Tsinghua University MS, 1998, Tsinghua University Ph.D., 2002, Tsinghua University • Research IT Strategy and Management, Business Intelligence and E-Business, Data Models and Fuzzy Logic ZHU Hengyuan • • • Institute • Research Organization and Process of New Product or New Business Development, Entrepreneurship, Venture Creation and Growth CHEN Guoqing • • Delin YANG • • • Research Property Rights, Management of Intellectual and Management of Entrepreneurship Innovation ZHANG • • • Research Venture Capital, Entrepreneurship, Theory of the Firm

Department of Management Science and Engineering Professor Professor Associate Professor Associate Professor Associate Professor Yi White Areas Areas Areas Areas Areas Yunhuan BS (equivalent), 1970, Tsinghua University MS, 1982, Tsinghua University BS, 1985, Duke University Japan of University International 1988, MA, Ph.D., 1997, Massachusetts Institute of Technology BS, 1993, Beijing University of Astronautics and Aeronautics MS, 1996, Tianjin University Ph.D., 2000, Zhejiang University BS, 1982, Northeast Heavy Machinery Institute MS, 1985, Tsinghua University BS, 1982, Huazhong Institute of BS, 1982, Huazhong Institute MS, 1986, Tsinghua University Innovation and Entrepreneurship WU Guisheng • • Research Management of Technology, Management of Technological Innovation, Regional Development Research Management, and Evaluation Program Project Software and IT Management, Project Value and Engineering Value Management, and Optimization System Management, Planning Steven • • • Research Strategy, Organizational Change, Alliances, • • • Research Management of Technological Innovation, Strategic Management, Knowledge Management WEI Linwei • • TONG • Technology • Research Innovation, Management of Technology and Methods Project Management, Theory Sustainable of Evaluation/Assessment, Development WANG

School of Economics and Management 4 2 Tsinghua University CHEN Jian Lenovo Chair Professor, Chair LI Bo Assistant Professor

• BS, 1983, Tsinghua University • BS, 2002, Peking University • MS, 1986, Tsinghua University • Ph.D., 2006, University of California, • Ph.D., 1989, Tsinghua University Berkeley Research Areas Research Areas Supply Chain Management, E-Business, Semiparametric Statistics, Nonparametric IT Strategy and Management, Business Statistics 25 Intelligence and Decision Support Systems, Optimization and Forecasting Techniques

GUO Xunhua Associate Professor LIN Lihui Associate Professor

• BS/BS, 2000, Tsinghua University • BEng, 1994, Tsinghua University • Ph.D., 2005, Tsinghua University • MEng, 1997, Tsinghua University Research Areas • MS, 1999, University of Texas at Austin Information Systems and Organizational • Ph.D., 2002, University of Texas at Austin Evolution, Systems Analysis and Design, Data Research Areas Management Knowledge Management, Innovation Management, Licensing of Intellectual Property, IT Investment, IT Contracts, Business Analytics, Open Source, Electronic Markets

HUANG Jinghua Professor, Vice Chair LIU Hongyan Professor

• BA, 1986, Tsinghua University • BS, 1991, Beijing University of Chemical • MS, 1988, Tsinghua University Technology • Ph.D., 2005, Tsinghua University • MS, 1994, Beijing University of Chemical Research Areas Technology E-Business, Information System • Ph.D., 2000, Tsinghua University Research Areas Data Mining, Text Mining, Database System, Data Warehousing, Online Analytical Processing, Information System

HUANG Shuo Associate Professor LIU Liwen Professor

• BS/BS, 1997, Tsinghua University • BS, 1982, Northern Jiaotong University • Ph.D., 2002, Tsinghua University • MS, 1986, Negoya Institute of Technology Research Areas • Ph.D., 1989, Nagoya Institute of Technology Supply Chain Management, Operations Research Areas Management, Inventory Control Production and Operations Management, Supply Chain Management, Operations Strategy, Service Management, JIT and Lean Production, Industrial Engineering, Logistics Management

LAN Boxiong Professor MAO Bo Associate Professor, Assistant Dean

• BEng, 1982, Beijing Institute of Chemical • BS, 1987, Tsinghua University Engineering • MA, 1989, Tsinghua University • MEng, 1985, Tsinghua University Research Areas • Ph.D., 1993, University of Waterloo Information Management and Information Research Areas System, Complex System (Theory and Operations Research, Decomposition Method Application), Virtual Community, Knowledge for Large-Scale System, Complex Production Management System Modeling, Enterprise Integration Model, Management Information System and Decision Support System Associate Professor Assistant Professor Assistant Professor Associate Professor Associate Professor Areas Areas Areas Areas Areas Yongbo Singapore BEng, 1998, Tsinghua University MS, 2000, Tsinghua University Ph.D., 2005, University of California, Irvine BS, 2003, Tsinghua University MS, 2004, Singapore-MIT Alliance Ph.D., 2010, Duke University BS, 2006, National University of Singapore Ph.D., 2011, National University of BEng, 2000, Tsinghua University University MS/Ph.D., 2006, Tsinghua BEng, 1986, Tsinghua University MEng, 1989, Tsinghua University Ph.D., 1993, Tsinghua University Research Electronic Commerce, Human-Computer Social Behavior, Consumer Online Interaction, Computing, Internet Marketing XU Xin • • • Research IT and Supply Chain Management, Technology Diffusion, Corporate Governance and IT Returns, Customer Relationship Management Systems, ERP and Corporate Information Risk Liu YANG • • • Research Game Theory, Dynamic Programming, Mechanism Design, Health Care Systems, Behavioral Operations Management, Service Management YI Cheng • • XIAO • • Research and Revenue Management, Production Management Service Systems, Supply Chain XIE Bin • • • Research Operations and Supply Chain Management, Product Safety and Regulation, Adoption of New Technology Professor Associate Professor Assistant Professor Associate Professor Associate Professor Areas Areas Areas Areas Areas BS, 1998, Tsinghua University MS, 2000, Tsinghua University Ph.D., 2006, New York University Astronautics and Aeronautics BEng, 1997, Tsinghua University MS, 1999, Tsinghua University Ph.D., 2003, Tsinghua University BEng, 1985, The University of Auckland MBA, 1989, University of Calgary Ph.D., 1992, University of Calgary BS, 1991, Tianjin University MS, 1994, Tianjin University Ph.D., 1999, Beijing University of BS, 1982, Tsinghua University MS, 1988, Purdue University Ph.D., 1992, Purdue University Fuzzy Logic and Decision Techniques WEN Zhong • • • Research E-Commerce, Information Goods Pricing, Strategy in Electronic Markets Research Quality Engineering and Management, Statistical Process Control, Statistical Process Diagnosis, Statistical Data Mining and Knowledge Discovery, Six Sigma WEI Qiang • • • Research Management Information Systems, Business Intelligence and Data Mining Techniques, • • • Research Supply Chain Management, Inventory Management, Operations Management and Operations Strategy in China SUN Jing • • • QIAN Xiaojun • • • Research Corporate Business Communication, Ethics and Communication, Business MBA and Corporate Social Responsibility, EMBA Education Robb David J.

School of Economics and Management 6 2 Tsinghua University YE Qing Assistant Professor HU Zuohao Professor

• BS, 1998, Tsinghua University • BS, 1985, Huazhong University of Science • MS, 2001, Tsinghua University and Technology • Ph.D., 2006, University of Michigan • MS, 1988, Zhejiang University Research Areas • Ph.D., 2000, Kyoto University Supply Chain Management, Procurement Research Areas and Outsourcing Management, Information Marketing Strategy and Model 27 Asymmetry in Operations Management, Capacity and Inventory Management

ZHU Tao Assistant Professor JIANG Xuping Professor

• BS/BS, 1997, Tsinghua University • BS, 1982, Central-South Institute of Mining • Ph.D., 2002, Tsinghua University and Metallurgy Research Areas • MS, 1985, Tsinghua University Analysis and Design of Information Systems, Research Areas Enterprise Application of Information Systems E-Marketing, E-Commerce/Business, Interactive Marketing, Precision Marketing, Mobile Commerce and Value Added Service, E-Procurement, E-Customer Relationship Management, Information Management

ZHU Yan Professor, Associate Dean LI Fei Professor

• BS, 1994, Tsinghua University • BS, 1983, Beijing Institute of Business • MS/Ph.D., 1998, Tsinghua University • MS, 1988, Beijing Institute of Business Research Areas • Ph.D., 2002, Renmin University of China Internet Behavior, Internet Economics, Research Areas E-Business, Trust Management, Healthcare Positioning, Retailing Strategy, Luxury System Management Marketing, Chinese Marketing

LIU Wenjing Assistant Professor

• BA, 2000, University of International Business and Economics • MS, 2004, National University of Singapore • Ph.D., 2010, University of Toronto Research Areas Department of Marketing Consumer Behavior and Decision-Making, Interpersonal Interactions, Time Perception, Intertemporal Choice, Pricing

CHEN Rong Associate Professor LIU Xi Associate Professor

• BS, 1998, Xi’an Jiaotong University • BA, 1995, Peking University • MS, 2000, Xi’an Jiaotong University • Ph.D., 2002, University of Iowa • Ph.D., 2004, The Chinese University of Research Areas Hong Kong Integrated Marketing Communications (IMC), Research Areas Corporate Social Responsibility (CSR), Crisis Consumer Behavior, Services Marketing, Management, Qualitative Research Methods Consumer Satisfaction and Regret, Customer Relations Management, Pricing Strategy Associate Professor Director Associate Professor, Assistant Professor Associate Professor Yuhuang Areas Areas Areas Areas Group Teaching Yongjun LL.M., 2000, Jilin University Doctor of Judicial Science, 2003, China University of Political Science and Law BS, 1990, East China Normal University LL.M., 1996, Peking University LL.B., 1986, Peking University LL.M., 1989, Peking University BEng/BEcon, 1998, Tsinghua University BEng/BEcon, Sloan MBA, 2000, Tsinghua-MIT MBA Program International Columbia University MPhil, 2002, Ph.D., 2006, Columbia University LL.B., 1997, Jilin University • • Research Civil and Commercial Law, Government-Merchant Relationship and the History of Business, Academic Criterion and Legal Education JIN • • Research Intellectual Property Law, Law of Corporation, Contracts and Related Judicial Case Comments LU Chunyan • • Research Law of Corporation, Contracts and Related Judicial Case Comments ZHENG • • • • Research Judgment Consumer Behavior, Consumer Self- and Decision Making, Consumer for Hedonic Control, Marketing Strategies and vs. Utilitarian Products, Pricing Relationship Promotion Strategies, Customer Internet Management, Entrepreneurship, Cultural Marketing, Global Marketing, Differences JIANG Peng • Business Law Associate Professor Associate Professor Chair Professor, Assistant Professor Assistant Professor Assistant Professor Areas Areas Areas Areas Areas Areas Ph.D., 2004, Tsinghua University BS, 1982, Jilin University MS, 1985, Tianjin University Ph.D., 1992, Tsinghua University BS, 1985, Peking University MS, 1991, Tsinghua University Ph.D., 2005, Tsinghua University BS/BS, 1993, Tianjin University MS, 1996, Tianjin University BS, 2000, Beijing Normal University MS, 2005, University of Chicago Ph.D, 2007, University of Chicago MA, 2002, Beijing Normal University MA, 2002, Beijing University MS, 2004, Syracuse University MS, 2008, Syracuse Ph.D., 2010, Syracuse University University BS, 1986, Huazhong Agriculture of China MS, 1989, Renmin University of China Ph.D., 1992, Renmin University BA, 1999, Beijing Normal University BA, 1999, Beijing Advertisement Effectiveness and Efficiency, Customer Relationship Management, Theory and Practice of Internet-based Survey • Research Brand Management, Brand Valuation, Strategic Marketing Management Ping ZHAO • • • Research Customer Satisfaction Theory and Measurement, Customer Value Theory, XIE Zan • • • Research Marketing Strategy, Consumer Behavior, Marketing Research, Product Quality Measurement, Customer Satisfaction YU Chunling • • Marketing, Industrial Marketing, Green Marketing WU Shali • • • Research Cross-Cultural Judgment and Decision Making • • • • Research New Product Quantitative Marketing Models, Brand Diffusion, Entertainment Marketing, Management, Advertising SONG Xuebao • • • Research Strategic Marketing, Entrepreneurial LIU Xia •

School of Economics and Management 8 2 Tsinghua University Honorary Professors

Robert J. Barro Lawrence J. Lau Eric S. Maskin MUN Kin Chok 29 Edmund S. Phelps Daniel L. Ritchie Oliver E. Williamson YUAN Baohua

Adjunct Professors

CHEN Yuan QIN Xiao GUO Shuqing SHEN Liantao JIANG Jianqing WU Jinglian LI Jiange WU Xiaoling LI Rongrong XIE Fuzhan LI Yizhong XU Rongkai LIU Shiyu XU Xianchun LOU Jiwei ZHANG Weiguo MA Jiantang ZHOU Xiaochuan MA Weihua ZHU Rongji

Guest Professors

Stuart L. Hart F. Warren McFarlan John L. Thornton Economics Economics

of of

Department Department Toronto

Professor, Professor,

Areas Areas Areas Areas BS, 1983, Shandong University MS, 1986, Columbia University Ph.D, 1989, Columbia University BS, 1982, Wuhan University MS, 1985, Wuhan University Ph.D., 1991, University of Chicago MS, 1982, Tsinghua University Ph.D., 1991, Harvard University MS, 1981, University of Toronto Ph.D., 1983, University of Toronto University of Hong Kong Professor, Xiuli ZHAO Department of Professor, Special-Term Management Science and Engineering University of Michigan Professor, • • • • • • Research Macroeconomics, Development Economics, Financial Economics and Public Finance XU Chenggang Special-Term • • Research Theory, Law and Finance, Contract Economics of Transition Dawei YAO Management Department of Chair Professor, Science and Engineering Columbia University Professor, • • Research Queuing Networks, Discrete Event Stochastic Systems, Applied Probability, Operations Management University of Professor, Research Queuing Theory, Financial Engineering, Inventory Control, Supply Chain Management ZHU Xiaodong Special-Term Economics Economics Economics

of of of

Department Department Department Toronto

Professor, Professor, Professor,

Areas Areas Areas Areas BS, 1982, Tsinghua University MS, 1984, The Second Academy of the Ministry of Astronautics MS, 1989, Carnegie Mellon University Ph.D, 1992, Carnegie Mellon University BS, 1988, Renmin University of China MS, 1991, Renmin University of China MA, 1995, Yale University MPhil, 1996, Yale University Ph.D., 1997, Yale University BA, 1986, Fudan University MA, 1988, Pennsylvania State University MS, 1991, University of California, Berkeley Ph.D., 1992, University of California, Berkeley BS, 1984, Huazhong University of BS, 1984, Huazhong University Science and Technology MA, 1988, University of Toronto Toronto Ph.D., 1991, University of Columbia University Professor, Boston College Professor, • • • • Research Innovation Management and Strategies, Network Effects, Service Pricing, Independent Product Information and Marketing Strategy, National Culture Effect on New Product Management University of Professor, • • • • • Research Econometric Theory and Applications, Nonstationary Time Series Analysis, Robust and Nonparametric Methods, Financial Econometrics XIE Jinhong Department of Professor, Special-Term Co-Chair, Marketing University of Florida Professor, Special-Term • • • • Research International Finance, International Trade, Macroeconomics, Development Economics Zhijie XIAO Special-Term SHI Shouyong Special-Term • • • Research Economics Macroeconomics, Monetary WEI Shangjin Economics Economics Economics

of of of

Technology

Department Department Department

A&M University Professor, Professor, Professor,

Areas Texas Yongmiao Areas Areas Areas Areas BS, 1982, Peking University MS, 1985, Nankai University Ph.D., 1991, Texas A&M University BS, 1985, Xiamen University MS, 1988, Xiamen University Ph.D., 1993, University of California, San Diego Ph.D., 1990, Stanford University BS, 1982, Nanjing University MS, 1985, Nanjing University BS, 1984, Peking University MS, 1988, University of Kentucky Ph.D., 1993, University of Chicago BA, 1982, Nankai University MS, 1985, Nankai University University MA, 1988, Pennsylvania State California at Ph.D., 1992, University of Berkeley • • • Research Non-parametric Econometrics, Panel Data Econometrics Econometrics, Nonlinear Time Series Analysis, Financial Econometrics, Empirical Finance, Chinese Economy LI Qi Special-Term Special-Term Cornell University Professor, • • • Research Econometric Theory, Time Series Professor, • Research Stochastic Processing Networks, Supply Chain Management, Applied Probability, Operations Research HONG Jiangang DAI Department of Professor, Special-Term Management Science and Engineering Georgia Institute of Professor, • • • • • Research Derivatives Markets, Risk Management, Market Microstructure, Mutual Funds Columbia University Professor, Research Analysis, Econometrics, Time Series Analysis, Nonstationary Panel Data Structural Econometric Modeling of Factor Models Changes, High-dimension Quanwei CAO Department of Finance Professor, Special-Term State University Pennsylvania Professor, Special-Term • • • • Professors Special-Term Jushan BAI

School of Economics and Management

30 Tsinghua University Chair Professor of Cheung Kong Scholarship Program

ZHAO Jianliang Chair Professor of Cheung Kong Scholarship Program, Department of Management Science and Engineering Professor, City University of Hong Kong

• BS, 1982, Beijing Institute of Agricultural Mechanization 31 • MS, 1985, University of California, Davis • MS, 1990, University of California, Berkeley • Ph.D., 1992, University of California, Berkeley Research Areas Management Information Systems, Business Process Management, Service-Oriented Computing

Distinguished Visiting Professors

CHEN Qi PENG Kaiping Distinguished Visiting Professor, Department of Distinguished Visiting Professor, Department of Accounting Human Resources and Organizational Behavior Professor, Duke University Chair, Department of Psychology, Tsinghua University • BS, 1993, Wuhan University Professor, University of California, Berkeley • MA, 1996, University of Maryland at College Park • BS, 1983, Peking University • MBA/Ph.D., 2001, University of Chicago • MS, 1995, University of Michigan • Ph.D., 1997, University of Michigan Research Areas Role of Information in Financial Markets, Research Areas Corporate Finance, Corporate Governance Cultural Psychology, Culture and Cognition, and Incentive Mechanism, Mutual Fund Psychology and Economics Behaviors, Financial Analysts Behavior QIU Dongxiao CHEN Yubo Distinguished Visiting Professor, Department of Distinguished Visiting Professor, Department of Economics Marketing Professor, The University of Hong Kong Associate Professor, The University of Arizona • BS, 1983, Sun Yat-sen University • BEng, 1997, Southeast University • MA, 1989, The University of British • MEng, 2000, Southeast University Columbia • Ph.D., 2004, University of Florida • Ph.D., 1993, The University of British Columbia Research Areas Web 2.0 and Marketing Strategy, Research Areas E-Commerce and Social Media, Social Industrial Organization, International Trade, Interactions and Networks, Innovation FDI and Entrepreneurship, Globalization and Corporate Sustainability Strategy, Marketing-Finance Interface School of Economics and Management

32 Tsinghua University ▎Programs 33 Attracting the Best and Brightest Students

Tsinghua SEM has been placing education at the core of its task. The School emphasizes on quality of education. As of September 2011, the School has a student body of 4,177, including 1,048 undergraduate students, 440 master’s students, 278 doctoral students, 1,432 MBA and 979 EMBA students. In addition, the School also attracts 622 undergraduates from other schools of the university for the Second Degree Program in Economics.

The outstanding academic environment and international perspectives of the School attract students from all over the world. There are currently 297 international students enrolled at Tsinghua SEM, including 57 in the Undergraduate Programs, 48 in the Master’s and Doctoral Programs, 105 in the MBA Programs and 87 in the EMBA Programs. Tsinghua SEM also runs student exchange programs with 99 leading universities and business schools around the world. Each year, over 300 students of Tsinghua SEM participate in these overseas exchange programs. in both Mandarin and English. This major prepares creative in both Mandarin and English. This major prepares analysis economic or teaching, research, in careers for thinkers or and management at financial institutions, enterprises government agencies. Accounting in touch with It produces top accounting professionals fully of modern international standards. In addition to a firm grasp general accounting, the major equips students with extensive skills, and knowledge, Mandarin and English communication quantitatively. the abilities to innovate and analyze problems knowledge of Graduates are prepared to expertly apply their and management enterprise in issues real-world to accounting the capital market. Information Management and Information Systems It graduates multi-skilled management professionals with an international perspective and an innovative mindset. In addition to a solid grounding in mathematics and management, economic knowledge, strong Mandarin and English skills, students also gain mastery of information techniques. development systems applied and analysis systems This major prepares students for information management and analysis positions in both the corporate and government sectors. Majors Program opens to high school The four-year Undergraduate and humanities tracks. Students graduates in both science mainly general education courses in begin their studies with then develop in more specialized areas the first two years and Students may apply for one of the in the following two years. three majors below: track) Economics and Finance (including an insurance the theories It gives students a systematic understanding of with an and methodologies of finance and economics situation. international perspective and a grasp of China’s in the Graduates are capable of tackling practical issues well economics and financial sector, and can communicate the professional arena can count on an average of more than two offers from prestigious financial services institutions, consulting firms, multinational companies, state-owned enterprises or government agencies. their junior year over half of the students have the opportunity opportunity the have students the of half over year junior their leading world at study and students exchange as abroad go to universities. Over half of all graduates choose to further study in China or abroad, among whom some start to pursue Ph.D. degrees at top overseas universities right after graduating from our undergraduate program. Those who choose to enter of Tsinghua University, draws experience from top universities of Tsinghua University, draws experience from at the worldwide, and places the development of students center of the design. its The School makes every effort to internationalize undergraduate undergraduate education. More than 50% of courses are taught in English, and during the fall semester of and critical thinking. Individualized development refers to not and critical thinking. Individualized development education only personality up-bringing but also individualized three tracks plans, such as the “honors programs” that offer leadership for of learning in academics, entrepreneurship and curriculum students in their junior and senior years. The new on the legacy is geared to global needs of the future. It builds In the fall of 2009, SEM launched a new undergraduate In the fall of 2009, SEM launched a new undergraduate and curriculum, which highlights both general education individualized development of each student. General education integrates value formation, skills development civilizations, and attainment of core knowledge of human imagination stressing the importance of nurturing curiosity, Program Features students. promising most attracts Program Undergraduate The the past few Approximately half the students enrolled during provinces on years have scored among the top ten in their Entrance Exam. College China’s Program Objectives of Tsinghua SEM aims to make The Undergraduate Program modern person, while also each student a fully developed that promotes top talents. providing an environment Programs Undergraduate

School of Economics and Management 4 3 Tsinghua University 35

The Second Degree Program in Economics The Second Degree Program in Economics is a rigorous economics program offered to students from other schools of Tsinghua University. It aims to contribute to the economic and technological development of China by graduating multi-facet talents with solid knowledge in both economics and their own specialized areas. Since its inception in 2006, it has attracted some of the most talented students at Tsinghua University. Some of the graduates continue to pursue master’s and doctoral degrees in the fields of economics and finance. Accounting Masters in Management (MiM) Masters in program with bilingual (Chinese and English) instructions. Program Features both The program is applied knowledge-oriented, nurturing the student. practical abilities and theoretical foundations of to meet It also provides various opportunities for students partners of and talk in person with accounting directors and renowned accounting firms and corporations. Program General Master’s The ・ Program Objectives programs, this program As in the other two types of Master’s It also recruits pre-experience undergraduate graduates. aims to nurture students’ analytical, general management and leadership skills, preparing them for managerial and leadership positions in corporations, government and non- profit organizations. Program Features Masters in Management (MiM) Program is Tsinghua SEM’s the first MiM program in China. Integrated of four previous programs in Business Strategy and Policy, Human master’s Resources and Organizational Behavior, Marketing, as well as Innovation and Entrepreneurship, MiM is a general Master’s Besides the Masters in Finance program at SEM, the School Besides the Masters in Graduate School University’s also collaborates with Tsinghua Masters in Finance education. Both at Shenzhen in providing in terms of curriculum and admissions programs are the same tuition fee, quality of teaching and requirements, as well as the location of teaching being the degree accreditation, with only difference. ・ Program Objectives with applied This program aims to train specialized experts to accounting knowledge in accounting. Graduates mainly go firms and accounting units in renowned corporations. Engineering

and

Science

Management

Programs Academic Master’s Masters in Finance Masters in Economics Masters the student can be guided and tutored both in academia and in career. Program Features This specialized program fosters students’ vision and innovative skills, encouraging their individual development with affluent academic and social resources. For example, the School assigns the student with two mentors: a SEM alumnus/ alumna, along with a professor of the SEM faculty to ensure Program Objectives with applied This program aims to train specialized experts in knowledge in finance, preparing them for positions consulting domestic and international financial corporations, companies as well as government regulatory institutions. go on for doctoral studies in China or abroad. They can also go on for doctoral studies in China or abroad. work as researchers in academic institutes. Programs Specialized Master’s The ・ Program Objectives research. These programs aim to educate talents for academic Program Features is in line with The academic programs have a curriculum that Graduates can the Ph.D. curriculum in respective disciplines. The ・・ In the spring of 2010, the School launched the Master’s School launched the Master’s In the spring of 2010, the programs are the reform, the Master’s program reform. After programs, Master’s academic the types: three into reorganized and the general Master’s programs the specialized Master’s program. Programs Master’s

School of Economics and Management 6 3 Tsinghua University 37

MiM students are expected to attain a systematic knowledge structure through a set of advanced economics and management courses. They learn in every aspect of economics and management, including applied economics, macro and micro finance, management fundamentals, leadership, ethics and communications. The curriculum demands profound analytical skills, highlighting intensified hands-on practice.

In 2011, Tsinghua SEM joined the Global Alliance in Management Education (CEMS), becoming the first and the only Chinese business school with CEMS membership. Economics Finance Human Resources and Organizational Behavior Innovation and Entrepreneurship Management Science and Engineering Marketing Accounting Business Strategy and Policy go on international exchanges in world famous research universities for a semester or a year. All of the go on international exchanges in world famous research universities for a semester or a year. doctoral education. above changes have been conducive to quality of the School’s The School fully builds on its multi-disciplinary advantage to nurture top academic talents in economics The School fully builds on its multi-disciplinary been implemented in different aspects of the program: and management. From 2009 on, reforms have research papers in seminars; year limit has been set doctoral candidates are required to present their exams; the anonymous review to doctoral thesis was for students to pass the doctoral comprehensive three faculty members as thesis advising committee after implemented; students are required to choose to passing the comprehensive exams; the School also provides the opportunity for doctoral students Program Objectives academic research talents for universities, the The Doctoral Program aims to train highly competent government and other research institutions. Program Features From 2011, Doctoral Program applicants do not need to choose their supervisors in the application applicants do not need to choose their From 2011, Doctoral Program the comprehensive qualification are made after students have passed process. Decisions of supervisors each affiliated to a department apply to eight doctoral degree programs, exams. Students shall instead of the School: Doctoral Programs

School of Economics and Management 8 3 Tsinghua University 39 Business School. Tsinghua SEM has also obtained full access Business School. Tsinghua SEM has also obtained the Richard to the cases of Harvard Business School and of Ivey School of Business in Canada. Diverse International Cooperation up student Currently, Tsinghua MBA Programs have built Tsinghua exchanges with 60 top business schools globally. students MBA Programs host about 100 incoming exchange equivalent every year while the partner schools accept an to study for number of Tsinghua MBA students to go abroad one semester. Outstanding Alumni Network alumni all As of July 2011, there are 7,269 Tsinghua MBA of the over the world in a variety of industries. The strength alumni community derives from the strong sense of belonging within Tsinghua MBA Programs. The Alumni Association and the Alumni Mentorship Program of Tsinghua MBA bridges alumni with current MBA students, providing constant advice and support. Extensive Club Activities MBA students can also expand their knowledge and network in more than twenty alumni associations and clubs in various human investment, entrepreneurship, finance, including areas, resources, management consulting and real estates. Meanwhile, as for the admissions procedure, application Meanwhile, as for the admissions take place before the traditional review and interviews will committee will make conditional written test. The admission and interview phase, and these admissions after the review automatically become final admission conditional admissions the passing score in the national when the applicants attain by all MBA applicants in China. MBA entrance test required Rich Learning Resources than 1/3 taught There are more than 100 MBA courses (more each year. in English) with over 100 seminars and forums thereby Case studies are frequently adopted in MBA courses, Center” Case Business “China The practice. and theory linking Professor established by Tsinghua SEM is co-directed by of Harvard Warren McFarlan, former Senior Associate Dean Programs MBA therefore considering each in a more holistic way. holistic more a in each considering therefore Admissions Reform were changes major reform, curriculum the with Compatible procedures. and standards admissions MBA of terms in made students prospective judge now Programs the thing, one For potentials. and capabilities comprehensive their on based mainly examine carefully will staff and faculty admissions The interviews, face-to-face conduct and documents applicants’ world” and “integrative practice”. These modules are designed designed are modules These practice”. “integrative and world” and capabilities build knowledge, acquire students help to Together, practice. and learning through integrity strengthen to students allows that curriculum core new a constitute they “doing”. and “knowing”, “being”, in excel Program Features Innovative Curriculum curriculum core new the in modules required five are There “analytical skills”, soft and “ethics MBA: Tsinghua of the and “China fundamentals”, “management foundations”, Tsinghua MBA students are able to build up a complete Tsinghua MBA students are able to build up a capabilities knowledge system and essential management time, they can through the new core curriculum. At the same in extra- broaden their vision and networks by participating projects, curricular events such as student events, practice company visits, business case competitions, international Program. exchange programs and the Alumni Mentorship curriculum was also initiated in July 2010. The revised curriculum was also initiated in July 2010. The to a curriculum does not only attach great importance general solid foundation in knowledge, but also stresses ethics. management capabilities, morality and professional redesigned a of consists curriculum new the of framework The activities. core curriculum and enriched extra-curricular Program Overview now offer an International MBA Tsinghua MBA Programs full-time), a full-time MBA Program (taught in English, Program and a part-time MBA Program. curriculum Tsinghua MBA Programs have adopted a new the new since fall 2009. An admissions reform in line with Program Objectives aim to educate future leaders The Tsinghua MBA Programs capabilities. with general management

School of Economics and Management 0 4 Tsinghua University 41

International MBA (IMBA) Program Launched in 1996, Tsinghua IMBA Program is a collaborative program between Tsinghua SEM and MIT Sloan School of Management. In the 2011 fall semester, international students make up 47% of the 122 IMBA students. In addition, the IMBA Program has developed applied learning programs with the Stanford Graduate School of Business (Stanford-Tsinghua Exchange Program, STEP), with MIT Sloan (China-Lab) and with Pontificia Universidad Católica de Chile (Doing Business in China/Chile). After one year in Tsinghua, students can also choose to apply for the MIT-Tsinghua MBA/MS Dual Degree or the Tsinghua-HEC Dual Degree MBA Program. Meanwhile, students can obtain cross- cultural experience and global perspectives by participating in Tsinghua-MBA-on-the- Road overseas study trips to places such as Japan, India, and Hong Kong. Chinese Culture. MBA Tsinghua-INSEAD Dual Degree Executive Program, Tsinghua-INSEAD Dual Degree Executive MBA by Tsinghua taught exclusively in English, was jointly launched international SEM and INSEAD in 2007, aiming to build a truly education EMBA Program. It combines international business years of with a focus on Asia and exposure to China. With enrolled 207 successful operation, the Program has in total participants from 32 countries. that The Program enjoys a pioneering equal partnership the integrates the local advantages of Tsinghua and joint faculty diversified perspectives of INSEAD, as well as a that from top Chinese and international business schools combines western and eastern management wisdoms. It places leadership development as the highlight throughout the Program, with intensive personalized coaching to meet individual needs. By becoming an alumnus of both esteemed schools, graduate secures an exceptional opportunity to build a lifelong professional network of high achievers spanning the continents. Alumni Network resource for the Program. In Alumni are an important connections between classmates, addition to maintaining a significant added value in student associations constitute EMBA students to knowledge economy, allowing today’s learning long after they leave the communicate and continue August 2011, 27 local EMBA student Tsinghua campus. As of shape in Liaoning, Inner Mongolia, associations had taken Tianjin, Shaanxi, Shandong, Hunan, Henan, Heilongjiang, Xinjiang, Jiangsu, Taiwan, Yunnan, Zhejiang, Anhui, Sichuan, Shenzhen, Guizhou, Jilin, Hebei, Shanghai, Shanxi, Hubei, and Guangdong, Hong Kong, Macau, Beijing, Fujian to study and Chongqing. Alumni also have the opportunity on Seminar learning continued Program’s the through connect magazine Manager ranked Tsinghua EMBA Program No.1 in its list of "China's Best EMBA Programs” consecutively in 2007, 2009 and 2011. classroom as guest lecturers. This adds a new dimension to international vision. the Program’s In 2005, the Program achieved outstanding results in the first Degree Academic the by programs EMBA of evaluation official Committee under the State Council. the world’s top management experts at leading international the world’s schools such as MIT Sloan and London Business School. The Program also receives regular visits from EMBA students at London Business School, HEC Paris and other top schools. Under the Global Leadership Program set up by former Goldman Sachs President John L. Thornton, business and political leaders from China and abroad are invited into the corporations and governmental officials. 84% of EMBA corporations and governmental officials. 84% manager level students are at or above the assistant general Most work and over 58% are presidents or general managers. in enterprises worth RMB one billion or more. Since 2003, EMBA students have been travelling to learn from knowledge of the classroom to create strategies in real-world knowledge of the classroom to create strategies settings. over Since its inception in 2002, the Program has enrolled China. It draws 3,600 students, making it one of the largest in state- most of the student body from executives at leading multinational owned enterprises, domestic private businesses, the EMBA Program integrates state-of-the-art international the EMBA Program integrates state-of-the-art A curriculum management theory with conditions in China. heavy on business case analysis, simulations, teamwork skills. and field study boosts students’ overall management to local Our unique "mobile campus" takes participants own on- enterprises, where EMBA candidates apply their theoretical the-job experience along with the cutting-edge management theory with conditions in China, the EMBA management theory with executives who will be Program aims to train innovative arena. competitive in the global Program Features education, Breaking free from the traditional mode of EMBA Program Objectives Programs are committed to training Tsinghua Executive MBA will shape the future of China’s the business leaders who to integrate cutting-edge international corporations. Designed Programs EMBA

School of Economics and Management 2 4 Tsinghua University 43 now, Executive Education has offered more than 700 programs. Approximately 40,000 alumni have now, Executive Education has offered more than development in China and throughout the world. gone on to contribute to reform and economic School, Yale University, Stanford University, Tsinghua SEM has partnered with Harvard Business College on a number of international programs. HEC Paris, Institut Français de la Mode and Babson Chinese and international business leaders gather Executive Education is becoming a platform where to learn and connect with their peers. in late 2001. The Program integrated the non-degree and certificate programs, incorporating them in late 2001. The Program integrated the non-degree overall curriculum to create open enrolment programs as well as customization into the School’s programs designed for large and small corporations. and education methods on a global scale, as well Executive Education builds on management theories education system with striking features. Up to as Chinese business practice, establishing an executive Program Objectives the Program provided professionalism and an international perspective, Committed to high standards, sector. senior managers in corporations and the government executive education for Program Overview SEM established its Program of Executive Education With support from the Advisory Board, Tsinghua Education Executive

School of Economics and Management

44 Tsinghua University 45 Average 5 Average over 20 Average 2 projects per year Centers

Projects Research Average over 300 per year Average over 40 per year Research Base for Contemporary Management and Technological Innovation Research Center for Contemporary Management Research Center for Technological Innovation Publications Papers: Books: Science Foundation of China and over 400 longitudinal Science Foundation of China and over 400 longitudinal studies for a variety of national ministries and project commissions. Tsinghua SEM had led one major one under the National Natural Science Foundation, assisted under the National Social Science Fund, and also in two studies under the Fund for Creative Research Group, six under the China National Science Foundation for Distinguished Young Scholars. During the past few years: National Natural Science Foundation: projects per year National Social Science Fund: National Strategic and Soft Sciences Projects: projects per year National National Philosophy and Social Sciences Innovation Base ・ Key Research Institute of Humanities and Social Sciences at Universities ・・ Disciplines First-tier Engineering Management Science and Business Administration Theoretical Economics Applied Economics National Priority Disciplines Engineering (first-tier) Management Science and Business Administration (first-tier) Econometrics (second-tier) Research As of September 2011, Tsinghua SEM had undertaken Natural 253 research projects funded by the National

Research corporate sectors. Excellent research research Excellent sectors. corporate the of one SEM made has capability nation. the in schools business leading economics and management. Based on its its on Based management. and economics as priorities, economic and academic own School the research, and teaching as well research applied pursued actively also has and government the to relevant areas in cutting edge of knowledge development. development. knowledge of edge cutting twenty over of history our Throughout working been has SEM Tsinghua years, Research scholarship. stronger build to disciplines, broad two in conducted is Overview Research keeping School, the to vital is Research the at students and faculty the both ▎

School of Economics and Management

46 Tsinghua University Major Research Projects

Principle Investigator Project Title Project Type Starting Year

Chen, Guoquan Research on Business Organization Management System Science Fund for Creative Research Groups 2012-01-01 and its Transformation under a Complex and Changing under National Natural Science Foundation Environment of China Chen, Guoqing The Growth Patterns and Key Factors for SMEs on Major International (regional) Joint Research 2012-01-01 47 Emerging e-Business Platforms Project under National Natural Science Foundation of China

Li, Hongbin Economic Analysis and Policy Study on the Gender Ratio Projects under National Science Fund for 2011-01-01 Imbalance Distinguished Young Scholars and National Natural Science Foundation of China

Bai, Chong-en Chinese Citizens' Income Distribution Mode and Reform Major Projects under National Social Science 2010-11-20 Scheme during the Twelfth Five-year Plan Fund

Chen, Guoqing Research on Major Fundamental and Technological Major Projects under National Natural 2009-01-01 Issue in Emerging E-Business Science Foundation of China

Huang, Jinghua Research on the Information Systems Adoption, Key Projects under National Natural Science 2009-01-01 Diffusion and Business Value Foundation of China

Li, Zinai The Study about the Methodology Foundation of Key Projects under National Social Science 2008-06-30 Econometric Models Fund of China

Yang, Baiyin A Multi-level Study of the Impacts of Organizational Projects under National Science Fund for 2008-01-01 Culture on Employees' Creativity and Organizational Distinguished Young Scholars and National Innovativeness Natural Science Foundation of China

Tong, Yunhuan Study on BOP Market Oriented Technology and Business Major International Projects under National 2008-01-01 Innovation Models Natural Science Foundation of China

Bai, Chong-en A Study on Government Welfare Expenditure Projects under National Science Fund for 2007-01-01 Distinguished Young Scholars and National Natural Science Foundation of China

Chen, Guoquan The Study on the Theory and Practice of Leader's Projects under National Science Fund for 2007-01-01 Individual Learning, Team Learning and Organizational Distinguished Young Scholars and National Learning in Chinese Companies Natural Science Foundation of China

Zhao, Ping Research on Chinese Brand Development and Innovation Key Projects under National Natural Science 2007-01-01 Foundation of China

Zhao, Chunjun Research on Theory and Practice of Chinese Enterprises Special Projects of the State Council 2006-01-01 Management

Liu, Liwen Logistics Service Models and Operation Strategies Key Projects under National Natural 2006-01-01 Science Foundation of China

Wu, Guisheng Research on Endogenous Innovation Strategy and its Strategic Projects in Philology and Social 2005-12-20 Influence on International Competitiveness Sciences, Ministry of Education

Bai, Chong-en A Study on the Policies to Promote the Development of Strategic Projects of National Development 2005-08-20 the Services Sector and Reform Commission

Chen, Jian Studies on Supply Chain Management and its Science Fund for Creative Research Groups under 2004-01-01 Applications Based on Information Technology National Natural Science Foundation of China

Chen, Guoqing Studies on Internet-based Management Information Key Projects under National Natural Science 2003-01-01 Systems Foundation of China

Tong, Yunhuan Study on Evaluation of Application Oriented Technology: Key Projects under National Natural Science 2003-01-01 Theory and Methods Foundation of China

2010

Journal Journal Journal of Accountingand Public Policy Journal of BankingFinance & Journal of ComparativeEconomics International EconomicReview Journal of Econometrics Review of EconomicsStatistics and Journal of PoliticalEconomy Journals

International

in Paper Title Paper Does Auditor Tenure Affect Accounting Conservatism? Further Evidence Conglomerate Investment under Various Capital Market Conditions Infrastructure Development in China: The Cases of Electricity, Highways, and Railways Currency Areas and Monetary Coordination A Generalized Nonlinear IV Unit Root Test for Panel Data with Cross-sectional Dependence Exporting and Firm Performance: Chinese Exporters and the Asian Financial Crisis Altruism, Favoritism, and Guilt in the Allocation of Family Resources: Sophie's Choice in Mao's Mass Send Down Movement

Published

Jiang, Yuan Rosenzweig, Hongbin; Li, Mark; Zhang, Junsen Bai, Chong-en; Qian, Yingyi Liu, Qing; Shi, Shouyong Wang, Shaoping; Wang, Peng; Yang, Jisheng; Li, Zinai Park, Albert; Yang, Dean; Shi, Xinzheng; Authors Li, Dan Yan, An; Yang, Zaihui; Jiao, Jie Papers

Department of Economics Department of Business Strategy and Policy Department Department of Accounting Selected

School of Economics and Management 48 48 Tsinghua University 49 Department Authors Paper Title Journal

Volatility Components: the Term Structure Journal of Futures Lu, Zhongjin; Zhu, Yingzi Dynamics of VIX Futures Markets Department of Finance Dewenter, Kathryn L.; Firm Values and Sovereign Wealth Fund Journal of Financial Han, Xi; Malatesta, Paul H. Investments Economics

Department of Differentiation in Leader-Member Exchange: A Human Resources and Ma, Li; Qu, Qing Leadership Quarterly Hierarchical Linear Modeling Approach Organizational Behavior

In-house R&D, Technology Purchases and International Journal of Li, Xibao; Wu, Guisheng Innovation: Empirical Evidence from Chinese Hi- Technology Management Tech Industries 1995-2004

Developing Effective Strategies to Address Department of Innovation Gao, Xudong; Yu, Jiang; International Journal of Complex Challenges: Evidence from Local High- and Entrepreneurship Li, Mingfang Technology Management tech Firms in China

Driving Forces and Organisational Configurations Liu, Jingjiang; Wang, Yi; International Journal of of International R&D: the Case of Technology- Zheng, Gang Technology Management intensive Chinese Multinationals

Single-Period Two-Product Assemble-to-Order Xiao, Yongbo; Chen, Production and Systems with a Common Component and Jian; Lee Chung-Yee Operations Management Uncertain Demand Patterns

Cai, Xiaoqiang; Chen, Optimization and Coordination of Fresh Product Production and Department of Management Jian; Xiao, Yongbo; Supply Chains with Freshness-Keeping Effort Operations Management Science and Engineering Xu, Xiaolin

Huang, Zi; Hu, Bo; Cheng, Hong; Shen, Mining Near-duplicate Graph for Cluster-based ACM Transactions on Hengtao; Liu, Hongyan; Reranking of Web Video Search Results Information Systems Zhou, Xiaofang was held upon Tsinghua Centennial Celebration in April, 2011. was held upon Tsinghua Tsinghua Business Review , a bi-monthly magazine in Chinese, published by Tsinghua SEM under the administration in Chinese, published by Tsinghua SEM under , a bi-monthly magazine Publishing (HBSP) and European Case Clearing House (ECCH) respectively to promote Chinese business cases Publishing (HBSP) and European Case Clearing House (ECCH) respectively to promote Chinese a cooperative worldwide. Tsinghua SEM is the first business school on the Chinese mainland that has reached website. In 2011, HBSP included into Harvard agreement with HBSP and has its cases released online through HBSP’s of case materials eight cases submitted by CBCC. The publishing is a significant step for the internationalization Tsinghua business cases. service institution on business case research and development, and database construction. In the previous decade, service institution on business case research and from a variety of areas, such as innovation, entrepreneurship, over 400 cases had been collected by CBCC, ranging human resources, project management, marketing, general accounting, finance, operations management, management and etc. Senior Associate Dean of Harvard Business School, began to serve In 2009, Professor F. Warren McFarlan, Former Business School as the Co-Director of CBCC. In 2011, the Center launched a strategic partnership with Harvard Center China Business Case and first school in business case education. Aiming at gathering management wisdoms Tsinghua SEM is China’s Case Center (CBCC) of SEM is a specialized research and academic promoting academic innovation, China Business The launching ceremony of The launching ceremony of Tsinghua University and the Ministry of Education, aims to guide transformations with excellent ideas, as well as to with excellent ideas, as well as the Ministry of Education, aims to guide transformations of Tsinghua University and administration. business of areas different in specialists of knowledge practical and wisdoms management disseminate Yingyi serves as the Chief Editor of the magazine. Tsinghua SEM Dean QIAN Tsinghua Business Review Tsinghua Business Review

School of Economics and Management

50 Tsinghua University Research Support

Information Technology and Services Platform The School initiated a new IT strategy at the end of 2009. Until now the first two phases of development have been completed. World-renowned software packages have been 51 chosen as the technical solution and a professional team was built for implementation. The new IT system aims to provide a user-friendly platform of knowledge exchange, resources sharing and effective communication. It strictly accords with the overall goal of the whole IT strategy: to prioritize the need of faculty and students, and to provide comprehensive information service for professors, students, alumni and partners.

The Information Technology and Services Platform provides efficient, cost-effective technology to support teaching, research, administration and communication at Tsinghua SEM. Internet access is now available throughout both administrative buildings, with wireless service in all classrooms and most public areas. Many students and teachers communicate outside the classroom via online discussion boards, and a teleconferencing system offers students more opportunities to connect directly with renowned international scholars. We also provide authorized software support for teaching and research with programs such as SPSS and SAS.

Library Established in 1985, the School’s library has a floor area of 900 square meters and a collection of over 100,000 Chinese-language books on economics and business administration, along with more than 10,000 foreign-language titles. Approximately 6,000 new books are added to the collection annually. In addition, the School invests heavily each year in subscriptions to leading Chinese and international journals as well as influential newspapers and magazines in the financial and economical sectors. The library currently subscribes to 600 periodicals, 160 of them in foreign languages. In recognition of the growing trend towards digitalization, the university library has attained access to top level databases of economics and management: Blackwell, EBSCO, Elsevier, JSTOR, OCLC, Springer and SAGE. The School library has also joined the university library in purchasing PROQUEST, EMERALD and others. In the summer of 2009, two databases, WIND and CSMAR, were bought by the School. In 2010, SEM joined the university library in purchasing EPS, RESET, BVD and others. In 2011, MacroChina Industries Database was also bought by the School.

Laboratories E-Business Laboratory Management Information System Laboratory Enterprise Resource Planning (ERP) Laboratory Behavior and Communication Laboratory Associations Leading Business Schools World's Tsinghua SEM partners with Harvard Business School in launching the Advanced Management Training Program Tsinghua SEM partners with HEC Paris in faculty exchange program, advanced training program and MBA dual degree program Program EMBA Degree Dual Tsinghua-INSEAD launching in INSEAD with partners SEM Tsinghua Tsinghua SEM partners with MIT Sloan School of Management in launching the International MBA Program Tsinghua SEM partners with Stanford Graduate School of Business in launching Stanford Tsinghua SEM becomes a formal member of the Partnership in International Management (PIM) Tsinghua SEM becomes a formal member of the Associate Dean CHEN Guoqing serves as PIM Asia & Asia Pacific Chair Tsinghua SEM obtains membership of The Association to Advance Collegiate Schools of Tsinghua SEM obtains membership of The Association exchange program Tsinghua SEM partners with the Wharton School in student exchange program Tsinghua Exchange Program (STEP) Tsinghua SEM partners with the Wharton School of the University of Pennsylvania in faculty Chinese mainland with EQUIS accreditation committee Dean QIAN Yingyi serves on the EQUIS accreditation Business (AACSB) the first School on the Chinese Tsinghua SEM achieves AACSB accreditation, becoming mainland with AACSB accreditation of AACSB Dean QIAN Yingyi serves on the Board of Directors Committee on Accreditation Dean QIAN Yingyi serves on AACSB Blue Ribbon AACSB Advisory Council of Dean QIAN Yingyi serves as Chair of the Asia-Pacific of Asia-Pacific Business Schools (AAPBS) Tsinghua SEM participates in initiating the Association AAPBS Tsinghua SEM hosts the first annual conference of Dean QIAN Yingyi serves as President of AAPBS of the Community of European Tsinghua SEM becomes an Associate Academic Member Management Schools (CEMS) school with CEMS membership Tsinghua SEM joins CEMS, becoming the only Chinese Foundation for Management Tsinghua SEM obtains the membership of the European Development (EFMD) EFMD, becoming the first School on the Tsinghua SEM is awarded EQUIS accreditation by Tsinghua SEM obtains the membership of the Graduate Management Admission Council (GMAC) (GMAC) Council Admission Management Graduate the of membership the obtains SEM Tsinghua

2001 1998 2006 1996 2005 2008 2005 2010 2002 2010 1997 2009 2007 2008 2010 2011 2004 2005 2008 2006 2011 2006 2008 International Collaborations In-depth Cooperation with HBS HEC Paris in Major International Participation AACSB Wharton INSEAD MIT Sloan Stanford GSB GMAC PIM CEMS EFMD AAPBS ▎

School of Economics and Management 52 52 Tsinghua University 53

Extensive Student Exchange Network Students of Tsinghua SEM have abundant opportunities to expand their international horizons through extensive student exchange network that Tsinghua SEM has established with a number of overseas leading institutions. As of 2010, Tsinghua SEM has signed agreements on student exchange programs with 99 overseas institutions. The exchange studies are tuition-free with mutual-recognition on credits. In 2010, the School provides more than 300 study-abroad opportunities and has received more than 330 exchange students from overseas universities.

A Partial List of the Institutions that Signed Agreements on Exchange Programs with Tsinghua SEM

North America Europe Asia-Pacific

・Babson School of Business ・Bocconi University ・Chinese University of Hong Kong ・Columbia University ・Copenhagen Business School ・Hong Kong University of Science and ・Cornell University (Johnson) ・ESSEC Technology ・Duke University (Fuqua) ・HEC Paris ・Indian Institute of Management ・MIT (Sloan) ・Helsinki School of Economics Bangalore ・New York University (Stern) ・Instituto de Empresa Business School ・Indian School of Business ・Northwestern University (Kellogg) ・Katholieke Universiteit Leuven ・Keio University ・Queen's University ・ESADE Business School ・Nanyang Technological University ・Stanford University ・St. Petersburg University ・National Taiwan University ・UC Berkely (Haas) ・Norwegian School of Economics and ・National University of Singapore ・UCLA (Anderson) Business Administration ・Seoul National University ・University of Michigan (Ross) ・University of Cologne ・Thammasat Business School ・UNC-Chapel Hill (Kenan-Flager) ・University of Zurich ・University of Auckland ・University of Pennsylvania (Wharton) ・Vienna University of Economics ・University of Melbourne ・University of Toronto (Rotman) and Business Administration ・University of Sydney ・University of Western Ontario (Ivey) ・Waseda University ・Yale University Africa

・University of the Witwatersrand Latin America

・FGV-EAESP ・Pontificia Universidad Catolica de Chile

School of Economics and Management 4 5 Tsinghua University ▎Alumni

55 During the past three decades, Tsinghua SEM has graduated more than 18,000 students in degree programs, and also provided more than 40,000 students with non-degree courses. Tsinghua SEM alumni have made exceptional contributions to the development of the School, to their specialized industries, and to the economic growth in China and the world.

Supported by the online alumni interface and database, the School organizes class reunions, forums, lectures, reports, seminars, and also initiates alumni associations and clubs. In such ways, Tsinghua SEM has created opportunities for its graduates to expand knowledge and network, build partnerships and further careers.

At present, there are Tsinghua SEM alumni associations in Shanghai, Shenzhen, Shenyang and other cities; as well as in Sichuan, Shandong and other provinces. More than 30 alumni clubs in areas such as finance, real estate, automobile and entrepreneurship have been hosting frequent events.

Upon the annual Advisory Board Meeting of Tsinghua SEM held in each October, the School invites a number of SEM alumni to have lunch together with the Advisory Board members. This event is one of the highlights among various SEM alumni activities.

Tsinghua SEM also hosts regular regional alumni days. For example, from October 2010 to February 2011, three alumni day events for Beijing, the Yangtze River Delta and the Pearl River Delta were held respectively. Present at the events were all the members of the Deans’ Council of the School, SEM alumni and other guests. During the events, Dean QIAN Yingyi made reports on the development of the School. Alumni guests participated in panel discussions on different topics. The School will continue to host regional Alumni Day events on a regular basis. Tsinghua . On September 8, 8, September On . , edited by Professor ZHU Rongji in Press Association Held at ZHU Rongji Speech Records , 500 sets of the book were donated to Tsinghua Economics Anniversary of the Department of Zhu Rongji Speech Records The 85th Anniversary of the Tsinghua Department of Economics Congress of International Economic World in four versions, and a set of his new four-volume book book four-volume new his of set a and versions, four in University Tsinghua Celebration Centennial achievements in academia and efforts in hosting the 16th World Congress of IEA. During July 4-8, 2011, hosted by Tsinghua SEM, the 16th World Congress of International Economic Association Association Economic International of Congress World 16th the SEM, Tsinghua by hosted 2011, 4-8, July During triennial World Congress takes place in China. (IEA) was held. For the first time, IEA’s The International Economic Association was founded in instigation1950 as aof Non-Governmentalthe Social OrganizationSciences at Departmentthe ofover UNESCO.the worldMore joinedthan the800 16threnowned World economistsCongress. ProfessorJosephfrom Stiglitz,all Masahiko President-Elect Aoki, of PresidentIEA, 2001 of NobelIEA, Laureateand in ProfessorEconomics, both appreciated Tsinghua SEM’s In addition, a book titled BAI Chong-en, Chair of the Department of Economics, was officially published. SEM Dean QIAN Yingyi wrote the preface for this book. 16th The On April 22, 2011, the inaugural speech of Chen Daisun auditorium of Tsinghua SEM. The first speaker was Eric Maskin, 2007 Nobel Laureate in Memorial Economics. The topic of Lecture in Economics took place in the initiated were series lecture The Them.” about Do to What and Occur They Why Crisis: “Financial was speech his as a celebration for the 85th anniversary of the founding of the Department of Economics, the predecessor of Tsinghua SEM. It was named after economist CHEN Daisun, Chair of the Department of Economics, from 1928 to 1952. at the official press conference of SEM on behalf of ZHU Rongji. Celebration Held for the 85th A meeting was held to allow open communication between ZHU Rongji and Rongjistudents. started At with the conferringmeeting, an ZHU inaugural certificate to the first speaker of in CHEN Economics: Daisun Eric S. Memorial Maskin, Lecture2007 Nobel Prize in Economics Laureate. Later on, eight students from different achievements and career plans. programs of SEM talked about their study experience, At the meeting, ZHU Rongji also donated to the School library his signatured book to SEM Dean ZHU Rongji Comes Back Founding Professor ZHU Rongji, Founding Dean of Tsinghua SEM, former Premier of the State Council, visited Tsinghua SEM on April 22, 2011 upon the 100th anniversary of Tsinghua University. Thousands of faculty and students gathered at SEM to welcome ZHU Rongji, who had establishment. been heading the School for seventeen years since its During the Centennial Celebration of Tsinghua University from April 23 to 24, 2011, SEM received nearly 4,000 held to celebrate Tsinghua centenary. and from overseas. A series of 15 events were alumni across the country ▎ Conference

School of Economics and Management 6 5 Tsinghua University 57 School of Economics and Management Tsinghua University Beijing 100084 China Tel: (8610) 6278 5515 Fax: (8610) 6278 5876 www.sem.tsinghua.edu.cn