From December 23rd to 24th 2019, the "Contemporary Accounting Review" 2019 Annual conference and doctoral workshop which was jointly held by the Center for Accounting Studies of Xiamen University and the Accounting Department of School of Management was successfully held. Nearly 80 people, including Experts, scholars, teachers and students, attended the conference. They come various universities, such as Shanghai University of Finance and Economics, Shanghai Jiaotong University, Chongqing University, Tsinghua University, Sun Yat-Sen University, Central University of Finance and Economics, Xi'an Jiaotong University, Macau University, Macau University of Science and Technology, Zhongnan University of Economics and Law, and Xiamen University.
The conference comprises two phases, which is Doctoral Workshop and the 2019 China Contemporary Accounting Review Academic Conference.
On December 23rd, professor Liu Feng of Xiamen University, the editor in chief of China Contemporary Accounting Review presided over the opening ceremony of doctoral workshop. Professor Liu first expressed his warm welcome and heartfelt thanks to all attendees for their support. He said that China Contemporary Accounting Review is an open platform for the exchange of ideas, and the active participation of all experts, scholars, teachers and students will be welcomed.
After the opening ceremony, Professor Li Zengquan, who is Executive Editor of China Contemporary Accounting Review, a Changjiang Distinguished Professor appointed by the Ministry of Education, and assistant to the president of Shanghai University of Finance and Economics, Assistant Professor Mao Jiaming from School of Economics, Xiamen University, Professor Qiu Hongfeng from School of Journalism and Communication, Xiamen University, and Professor Liu Feng, from Accounting Department of Xiamen University, gave keynote speeches respectively on the following topics, the Governance Role of Accounting in Relationship-Based Transactions, Statistical Models and Causal Inference: on The Application of Machine Learning in Econometrics, Crossing the Cognitive - Behavior Gap: Risk Communication in the Environment and Health Field and About Board Of Directors and Independent Directors: a New Research Attempt.
Professor Li Zengquan shared his research results and experience with audience on the topic of the Governance Role of Accounting in Relationship-Based Transactions. Professor Li pointed out that the interpretation of China’s accounting and financial practices needs to proceed from four aspects: practices, methodology, fundamental theory and research methods. Then, combined with the features of Chinese business practices, Professor Li discussed the current status, characteristics and internal reasons of existence of relational transactions in China, he further explained the governance role of accounting in relational transactions.
Assistant Professor Mao Jiaming talked about the often-used causal inference in academic research, especially in accounting and finance research. It is very important to carefully analyze the causal nexus and choose the appropriate model when doing research. Professor Mao`s speech kept up with the latest developments of information technology and econometrics. starting from the basic theories of machine learning, he focused on the trade-off between bias and variance in model estimation, which enhanced the audience’ understanding of modelling.
Professor Qiu Hongfeng showed the basic theories and research methods in the field of communication, introduced the concepts of risk communication, risk perception, risk justice, and various modes of healthy risk communication, as well as the qualitative research methods that are commonly used in the field of communication. Professor Qiu’s speech broadened the listeners’ perspectives of conducting accounting research.
By looking back the history of independent directors, Professor Liu Feng talked about independent directors of Dell Inc and NEEQ listed firms based on institutional economics theories such as evolutionary economics, dichotomy of institution mechanisms and regulatory economics. His talk enlightened participants’ rethink on the role and function of board of directors and independent directors. Professor Liu Feng believes that when doing research, an “innocent” mind will be helpful, researchers should not be accustomed to the widespread phenomenon in reality, and not be limited to the superficial significance of regression results.
On December 24th, the second session of the event, namely 2019 Annual Academic Conference of China Contemporary Accounting Review began. professor Xia Lijun from Accounting Department Shanghai Jiaotong University, who is also the executive editor of China Contemporary Accounting Review chaired the meeting.
Professor Du Xingqiang, executive editor of China Contemporary Accounting Review and dean of the accounting department of Xiamen University, delivered a welcome speech. Professor Du expressed his welcome and gratitude to the delegates, clarified the theme of this annual conference, which is informal institutions, cultural influence and accounting/auditing behavior. He expressed his appreciation for the goal of the journal China Contemporary Accounting Review, and made best wishes for future development of accounting research. Professor Du's humorous yet poetic speech drew applause from the audience.
After the opening ceremony, the academic conference comprised three events: keynote speech, report and review of selected papers, and the closing ceremony.Professor Xin Qingquan, who is the executive editor of China Contemporary Accounting Review, a young Changjiang distinguished scholar appointed by the Ministry of Education, the deputy dean of the School of Economics and Business Administration of Chongqing University, presided over the first two events.
The keynote speakers of this annual conference are Professor Wang Rigen, associate dean of the School of Humanities, Xiamen University, and accounting professor Luo Mei, Director of the Institute of Digital Financial Asset of the School of Economics and Management, Tsinghua University. Their keynote speeches are about respectively "Culture of Guild in Ming and Qing dynasty" and "Accounting and Blockchain". Professor Wang Rigen introduced the culture of guild in the old time, and explained it is the product of China‘s vast land and large population, and also the product driven by the development of market around the world. His speech helped the participants better understand the history of China’s guild and the characteristics of doing business in China. Professor Luo Mei kept up with the latest trend of the times, introduced the concepts and characteristics of Bitcoin and blockchain to the participants, and shared some research directions brought by the interdisciplinary of blockchain, accounting and finance. Professor Luo’s speech was new and opened listeners’ mind.
A total of 60 papers were received at this annual meeting, 7 of them were selected to be presented at the meeting. The title and authors of the 7 thesis are as follows: Social Networks and firm Value by Liu Jing, PhD student of Nanjing University, Regional Risk Culture and Corporate Risk-taking by Ding Longfei, Ph.D. student of Wuhan University, Characteristics of Audit Committee Convener, CEO Power and the Earnings Quality of Company by Sun Di, PhD student of Wuhan University, Is the signing auditor of a joint audit more independent?-analysis on the industry expertise and audit quality by Tang Liang, Associate Professor of Northeast Normal University, The Impact of Dual Audit Choices on Audit Quality and Domestic Audit Fees - Evidence from A and H Shares Cross-Listings in China by Professor Liu Ming from University of Macau, Can the annual report inquiry letter improve the quality of analysts earnings forecasts by doctoral student Liu Qianqian of Hunan University, and Research Progress of Corporate Finance Theory from the Cultural Perspective by doctoral student Wang Binlong of Southeast University.
Li Liuchuang from Xi’an Jiaotong University, Shen Jianghua from Xiamen University, Yin Huifang from Shanghai University of Finance and Economics, Liu Yuanyuan from Xiamen University, Shentu Li Rong from Xiamen University, Chen Yunsen from Central University of Finance and Economics, and Yu Junli from Shanghai Jiaotong University each made a review presentation of the 7 papers. They commented and gave constructive advices from multiple aspects including academic contributions, theoretical logic and empirical results. meanwhile, the audience interacted enthusiastically.
In the last part of the conference, Professor Liu Feng gave a brief summary of the event. He said that the two-day annual conference was rich in content and inspired the future research of young scholars. He sincerely hoped that the researchers and practitioners would not be hesitated to make valuable suggestions for this event, and hopefully, the China Contemporary Accounting Review will be better and more popular with joint efforts. Professor Liu announced the winners of the Best Paper Award and Best Comment Award of this seminar. Gaodun Finance sponsored the awards, and they were awarded by Professor Li Zengquan and Professor Xia Lijun. The Best Paper Award went to Tang Liang, Associate Professor of Northeast Normal University (Paper reported: Is the signing auditor of a joint audit more independent?-analysis on the industry expertise and audit quality); The Best Comment Award was awarded to Professor Chen Yunsen of Central University of Finance and Economics (Paper commented: Can the annual report inquiry letter improve the quality of analysts earnings forecasts?).
During the last two days, many distinguished scholars and young researchers were attracted to this academic feast, they exchanged interesting research questions and learned from each other. The keynote speeches and reports are rich in content and mind-opening. This event promoted academic exchanges between universities and scholars, attendees shared the latest development of theory and methodology, which enhanced mutual understanding and cooperation of scholars in accounting and financial.
