Professor Wang Cong — The Power of Higher Institution in Regional Development

Professor Wang Cong:

Professor of School of Management and Economics

Associate Dean of Shenzhen Finance Institute

Wang Cong is the professor of The Chinese University of Hong Kong, Shenzhen and the associate director of Shenzhen Finance Institute. He received his Ph.D. in Finance from Vanderbilt University in 2007. He earned Bachelor's degree from the Guanghua School of Management, Peking University in 1999 and Master's degree in Economics from Nanyang Technological University in 2002. His research focuses on corporate finance, management, acquisition and CEO incentive compensation. He has published papers in Journal of Finance, Review of Financial Studies, Journal of Accounting and Economics, Journal of Financial and Quantitative Analysis, Journal of Banking and Finance and etc. His two papers, published in Journal of Finance in 2007 and 2009, were ranked in the top ten for academic reference. Another paper won the Emerald Excellence Award in 2015.

In CUHK, he offered courses for MBA, EMBA, Executive Master of Professional Accountancy and Master of Finance, and won Young Researcher Award in 2010 and Teaching Award at the Business School in 2013.

Q: What drew you to CUHK-Shenzhen?

A: I have deep attachment to The Chinese University of Hong Kong. After I finished my doctorate in America, I taught at CUHK until 2016. When I knew the establishment of CUHK-Shenzhen, I believe the new campus would carry the heritance of CUHK and is bound to develop it to a new level. I see inclusiveness, vitality and future in it. That’s why I am here now.

Q: After you came here with your wife Dr. Lu, what characteristics of this university attract you most?

A: It is the vitality. Everything here is new and you can’t foresee how it is going. This, in fact, means all kinds of possibilities. We are not afraid of failures, because the University is young. We can always start again. I am convinced that this is the place where I can wield my ideas and knowledge.

Prof. Wang and his wife Dr. Lu both work at CUHK-Shenzhen

Q: Why you decided to engage in teaching?

A: When I was still studying at Peking University, I was a shy boy with sophiscating skills in dealing with interpersonal relationships. But somehow I realized I am good at making public speech. I attended many speech contest during my undergraduate years and won the best debater during a debate with Qinghua University. So I found out that teaching, which requires speaking in public, can actually utilize my strengths. 

Q: In your opinion, what makes a good teacher?

A: Teaching is not simply transplanting knowledge from teachers’ mind to students’. What we should do is to guide and inspire students to think independently. Students will then be able to raise questions, analyze them and find the solutions.

On the other hand, practical experience from industry is valuable for business students. I often invite my former students who have made some achievements to share their experience, success or failure, in class. I believe that the combination of classroom and industry benefits my students a lot.

Q: You have been invited as guest commentator by many TV programmes, and shown your broad knowledge in not only your field of study, but the global development.  Could you give recommendations for students on how to open their eyes and become more insightful?

A: I would simply put it as “more” and “less”. Read more, no matter newspapers or books. Read history as well. You can always use the experience from history to solve current problems, as history is recurrent. By “less”, I mean using the simplest logic to analyze, and succinct expression to explain.

Prof. Wang present as guest commentator on TV

Q:  What do you think the construction of Guangdong-Hong Kong-Macao Greater Bay Area will bring to Shenzhen and the University?

A: I am convinced that the Greater Bay Area will become the next main technology and innovation center in China. This, first of all, is based on the abundant research and talent resources provided by the top universities and institutions in the area. Secondly, Shenzhen act as catalyst for innovation, thus numerous ideas are coming into reality here every day. Moreover, some second-tier cities, such as Zhongshan, Dongguan, help to form a complete supply chain system to industrialize the research results. The stock exchange centers in Shenzhen and Hong Kong bring the technology into the market through economic means. All the above together makes the Greater Bay Area a potential powerful technology and innovation center.

As for the University, it is a brand-new platform carrying the advantages of both sides. It benefits from a superior educational system from Hong Kong, and enjoying the rich resources provided by Shenzhen. In return, the University and Shenzhen Finance Institute will play an important role in preparing talent for the future development of the area.  

Interviewed by Li Ke (2018 SME, Muse College)