Professor Zhangkai Huang: Managerial Education and Corporate Innovation
Date: 2018-11-06

On the morning of November 2nd, at 315 of Wisdom Valley Block 3, invited by Professor He Jia from the Department of Finance, Huang Zhangkai, an associate professor of finance at the School of Economics and Management of Tsinghua University. The lecture attracted many teachers and students. After the lecture, Professor Huang and the teachers of the finance department had a heated discussion. They raised some new ideas and new perspectives on the algorithms of this problem.

Dr. Zhang Zhangkai is an associate professor of finance at the School of Economics and Management of Tsinghua University and deputy director of the China Center for Financial Research at Tsinghua University. Professor Huang received his Ph.D. in Finance from Oxford University in 2003. Before joining Tsinghua University, Dr. Huang Zhangkai was a lecturer in finance in Lancaster University from 2002 to 2003. From 2003 to 2009, he served as assistant professor of finance at Guanghua School of Management, Peking University. From 2009 to now, he served as the associate professor of Economics and Management of Tsinghua University.

Professor Huang's main research areas are corporate finance, institutional economics, political economy, economic history and financial history. He is currently conducting research on institutional changes, state-owned enterprise reform, corporate finance, economic organization structure, and national capabilities. He has published a great number of papers on China's economic and financial markets in academic journals at home and abroad. The paper on China's economic decentralization reform was published in the top international economics journal, American Economic Review.

In this lecture, Professor Huang believes that Chinese CEOs without college degrees spend less in R8D and their firms have fewer patents. The result is robust when using the CEO's Cultural Revolution experience as instrument for access to college education, and this cannot be explained by changes in beliefs. Furthermore, we run a regression discontinuity design using the 1977 policy shock and find that higher education indeed increases the CEO's human capital.

All the teachers showed great interest on this research. Some teachers also experienced the policy shocks of 1977. This topic has profound significance both in terms of humanity history and financial perspective. Especially in the part of the comparison data, different angles suitable for China's national conditions were discussed by the teachers. After the lecture, Professor Zhangkai Huang said that he also gained a lot.


Xun Geng