Events

The Role of Private Equity in China

Posted on:

Private equity investments are heating up in China, but there still exists uncertainties. China is continuously undergoing corporate reform and trying to find ways for previously state owned enterprises (SOEs) to become globally competitive. As governance structures are still weak and unique in Chinese companies, private equity firms are also taking a unique approach to its investments in China.

In the seminar, I will compare how private equity firms’ objectives and roles in operating in China are vastly different from their operations in Western countries. The core objective of private equity firms is to gain a return on their investment, which is ultimately to buy a whole, or part of, a company at a low price and sell at a higher price in the future. It is well known that in Western countries, private equity is invested in companies that are undervalued due to governance problems. It could be said that Chinese companies are also undervalued due to their governance problems.

However, the source of the governance problem is different between Chinese companies and Western companies. Most Western companies’ governance problems arise due to agency problems where there is a conflict of interest between managers and shareholders, where managers may engage in opportunistic and/or unethical behavior. In China, governance problems arise mostly due to inefficiencies in accounting practices and not being able to gain trust from the global market due to gaps in expectations of governance practices, thus leading to undervaluation and low global competitive advantage. Furthermore, Chinese firms may not have the managerial competencies and resources necessary to grow into a global company.

Therefore, the reason private equity firms invest in target companies and how they solve the governance and resource problem to increase the value of the target companies will likely vary between Chinese and Western companies. I will discuss the case of a private equity firm named Honey Capital acquiring a local state-owned glass company named Jiangsu Glass to deeply examine how private equity firms operate in China.

Further, I will discuss the uncertainties arising in the China market due to declining export growth and too much private equity money chasing too few deals. I will finish the session by further looking into the debate on whether private equity firms actually create value for the target companies.


Date:
Tuesday, March 6, 2018
Time:
5:30 pm – 7:30 pm
Location:
Segal Graduate School of Business
Room 4800 (4th floor)
500 Granville Street
Vancouver, British Columbia .
Cost:
Complimentary,RSVP required.
Registration:
Please register here.
Inquiries:
beedie-events@sfu.ca.

Dr. Young Un Kim joined Nottingham University Business School as an assistant professor of Strategy in March 2015. Previously, she was an assistant professor at UNSW Australia since 2012 where she taught Masters level and MBA level students. She received a Bachelors in Business from Kyunghee University, a Masters in Electronic Commerce from Carnegie Mellon University, and a PhD degree in Strategy and Entrepreneurship from the University of North Carolina at Chapel Hill. Her research explores the intersection of Strategic Management and Corporate Governance. Current research projects focus on examining Boards of Directors role as strategic advisors and how national institutions affect how corporate boards behave. She also has a unique interest in comparing how governance structures vary across countries.

In Conversation with Nobel Laureate Professor Muhammad Yunus

Posted on:

Join us for the livestream of this event on February 5th at this link: http://at.sfu.ca/hJDrGG

Email beedie-events@sfu.ca if you have questions about this event.

***

Simon Fraser University presents: a fireside chat with Nobel Peace Prize winner Professor Muhammad Yunus. The Bangladeshi economist, microfinancing pioneer and founder of the grassroots Grameen Bank, will be at our Vancouver campus to discuss his life’s work and his vision for “A World of Zero Poverty” on Monday, February 5, 2018.

Professor Muhammad Yunus is the father of both social business and microcredit, the founder of Grameen Bank, and of more than 50 other companies in Bangladesh. For his constant innovation and enterprise, the Fortune Magazine described Professor Yunus in March 2012 as “one of the greatest entrepreneurs of our time.” In 2006, Professor Yunus and Grameen Bank were jointly awarded the Nobel Peace Prize. Professor Muhammad Yunus is the recipient of 55 honorary degrees from universities across 20 countries. He has received 112 awards from 26 countries including state honours from 10 countries. He is one of only seven individuals to have received the Nobel Peace Prize, the United States Presidential Medal of Freedom and the United States Congressional Gold Medal.

Hosted by the Jack Austin Centre for Asia Pacific Business Studies

In partnership with:
SFU Community Engagement
SFU Public Square
RADIUS

Belief Systems and Business: Indian Cultural Values and Their Interpretation in the Contemporary Business Context

Posted on:

You are invited to a lecture and reception with the Hari and Madhu Varshney Visiting Scholar in Indian Studies, and Indian Council for Cultural Relations (ICCR) Visiting Scholar Dr. Kanika Bhal, at the Jack Austin Centre for Asia Pacific Business Studies. Special welcome by Mrs. Abhilasha Joshi, Consul General of India in Vancouver.

Dr. Bhal’s lecture topic — Belief Systems and Business: Indian Cultural Values and Their Interpretation in the Contemporary Business Context — addresses the role that culture plays and how it is interpreted in business.

Cultures provide a frame of reference for all human interactions—interpersonal, social and economic. Key Indian cultural values are rooted in mythological belief systems perpetuated through rituals and stories. Find out what some of these values are and how they can be understood on a societal and individual level in the context of modern business.


Date:
Monday, November 27, 2017
Time:
5:30 pm – 8:00 pm
Location:
Segal Graduate School of Business
500 Granville Street, Vancouver, BC
Room:
Ground floor Event Rooms
Program:
Lecture followed by reception
Inquiries:
beedie-events@sfu.ca.
This event is free, but registration is required. Register here.


Dr. Kanika Bhal is the 2017 Hari and Madhu Varshney Visiting Scholar in Indian Studies. She currently serves as the Modi Foundation Chair, Professor and Head at the Department of Management at the Indian Institute of Technology Delhi (IIT Delhi) and is the first Varshney Visiting Scholar at the Beedie School of Business. As an accomplished scholar, teacher, and administrator, she has published over 100 journal articles, won multiple teaching awards, and heads a centre of excellence on business ethics, corporate governance and corporate social responsibility at IIT Delhi.

The Visiting Scholars Program in Indian Studies was first established by Simon Fraser University and the Indian Council for Cultural Relations (ICCR) and was named the Hari and Madhu Varshney Visiting Scholars Program in Indian Studies in recognition of the Varshney’s generous investment. The program will foster and strengthen cultural relations by hosting world-class Indian scholars from a wide range of disciplines such as international studies, contemporary arts, business and world literature. SFU is the first western Canadian university to receive support from the ICCR to create such a program.

 

Asian Development Bank’s Updated 2017 Economic Forecast for Asia and the Pacific

Posted on:

The Asian Development Bank’s flagship economic publication Asian Development Outlook (ADO) provides a comprehensive analysis of macroeconomic issues in developing Asia. It is launched annually in April and updated in September. The ADO Update examines the prospects for developing Asia by subregion: Central Asia, East Asia, South Asia, Southeast Asia, and the Pacific. The report also presents full analysis of ten economies, including the People’s Republic of China and India.

This year’s ADO Update theme chapter, Sustaining Development Through Public-Private Partnerships, explores how Asia can use public-private partnerships (PPPs) to bolster infrastructure investment.

The ADO presentation by ADB Chief Economist Yasuyuki Sawada will address:

  • Economic prospects for developing Asia and the Pacific
  • Key risks to the region’s outlook
  • Implications of the Federal Reserve’s balance sheet normalization for Asia
  • What is behind the recent uptick in trade and whether it can be sustained
  • Measures governments can take to promote PPPs and ensure their success

Event Details

Date: Tuesday, October 10, 2017

Time: 10:30am – 12:30pm

Location: Segal Graduate School of Business, 500 Granville Street, Vancouver, Room 2800 (2nd floor)

Cost: Complimentary, RSVP required.

Includes: Light lunch and beverages to be served.

Registration: Please register here.

Inquiries: Please contact beedie-events@sfu.ca

Yasuyuki Sawada is the chief spokesperson for ADB on economic and development trends, and leads the Economic Research and Regional Cooperation Department, which publishes ADB’s flagship knowledge products. Dr. Sawada previously served as a Professor in the Faculty of Economics at the University of Tokyo.

He also performed research at a variety of institutions, such as the Japan International Cooperation Agency Research Institute; the World Bank; Economic Research Institute of ASEAN and East Asia; Bangladesh Institute of Development Studies; Pakistan Institute of Development Economics; International Rice Research Institute in the Philippines; International Water Management Institute in Sri Lanka; Research Institute of Economy, Trade, and Industry in Japan; and Japan Society of Promotion of Science, where he led a number of large-scale development policy evaluation projects in Asia and other developing countries. He has published more than 60 peer-reviewed research articles on diversified topics pertaining to Asia and other developing countries ranging from macro development issues, such as long-term economic growth and structural change, sovereign debt sustainability, foreign aid, trade, ageing and social security, and natural and man-made disasters to micro issues of poverty, education, infrastructure, microenterprises, microfinance, health, and disabilities.

Business Ethics in Hong Kong: A Confucian Perspective and the Long-term Trend

Posted on:

The presentation comprises of three studies relating to the current state and the future of business ethics in Hong Kong. The first study discusses the conceptualization and operationalization of virtue business ethics from a Confucian perspective. A three-factor model of Confucian business ethics is proposed and validated with structural equation modeling. The second study describes the business ethics performance of seven industries in Hong Kong from both cross-sectional and longitudinal perspectives. The property industry consistently is seen as relatively less ethical, while the retail industry usually outperforms others. The third study predicts the long-term state of business ethics development in Hong Kong using dynamic distribution analysis. The future long run steady state distribution indicates an encouraging finding that business in Hong Kong will converge to a slightly positive, long-term steady state.

Date:
Tuesday August 1, 2017
Time:
12:00 pm – 1:30 pm
Location:
Segal Graduate School of Business
500 Granville Street, Vancouver, BC
Room 2300 (2nd floor)
Cost:
Complimentary, RSVP required.
Includes:
Light snacks and beverages to be served.
Registration:
Please register here.
Inquiries:
beedie-events@sfu.ca.

Dr. Felix Tang is both an SFU BBA and MBA Alumni. Currently, he is an Associate Professor in the Department of Marketing at Hang Seng Management College. He is also the Director of Research Institute for Business and an Associate Director of the BBA Programme. He received numerous teaching awards, including the top teaching award at HSMC in 2015-16 for his outstanding performance in teaching.

His research interests include customer satisfaction, consumer ethics, business ethics, and service learning with a focus on Chinese cultural influence and issues important to Asian countries. He has recently contributed several articles in both marketing and management fields, such as Asian Journal of Business Ethics and Asia Pacific Journal of Marketing and Logistics. Dr. Tang has served as a consultant for listed companies and SMEs.

China’s Economic Strategies in a Black Swan Lake

Posted on:

The Brexit and stunning victory of Donald Trump were described as black swan events which result in severe doubts on the trend of globalization. Such uncertainty shadows the growth perspectives of open economies, especially China. Professor Bo Chen will share his viewpoints on the main challenges facing China’s economy under the global context-namely, the unstable domestic financial market, weaker RMB with capital flight, debt problem, real estate bubble, and economic structural changes. He will then summarize the reform policies aimed at dealing with these challenges. In particular, he will focus on the major reforms in the state and financial sectors.

Date: Monday, June 26th, 2017
Time: 10:30am – 12:30pm
Location: 2800 (2nd floor)
SFU Segal Graduate School of Business
500 Granville Street, Vancouver, BC

Registration here

Professor Bo Chen received his Ph.D. degree in Economics from Simon Fraser University in 2008. Dr. Chen is a professor of Huazhong University of Science and Technology. He is also a Research Associate of the Federal Reserve Bank of Dallas and the Pacific Economic Cooperation Council (PECC). Since June 2013, Dr. Chen has served as the executive director of the Research Centre on Free Trade Zone and participated in the consultation for the establishment of China (Shanghai) and China (Hubei) Free Trade Trial Zone. He was selected to give talks on Shanghai FTZ to senior officers at the Ministry of Treasury and the Ministry of Commerce. Since 2015, he has been a senior consultant to Fujian and Guangdong FTZs.

Furthermore, he is also a senior lecturer to the executives of central State-owned Enterprises (SOEs) by the State-owned Assets Supervision and Administration Commission of the State Council on “One Belt, One Road” Initiative. Dr. Chen remains a senior consultant (to both central government and Shanghai Municipal government) on various undergoing macroeconomic reforms, especially on the policies on trade, investment, and SOEs.International Business Academy since 2012.

Introduction to a new crowdfunding business model: An innovative mechanism for establishing business partnership

Posted on:

Crowdfunding originated and gained popularity in the West. The Chinese version of crowdfunding introduced in this talk is a new type of crowdfunding. This new business model first appeared in China in 2013 and is becoming increasingly popular among entrepreneurs, primarily as a novel mechanism for identifying and selecting business partners as well as for fundraising.

The Chinese version of crowdfunding is not simply about accumulating funds. The model is more concerned with accumulating people and ideas. In this model, all the key resources needed for launching an entrepreneurial project are pre-identified and potential investors are sought and selected among acquaintances who hold these resources. Also, this business model blurs the lines between customers and investors; the investor can also be the consumer and the administrator. This selection process ensures that all investors (also shareholders) share similar ideals, entrepreneurial mind-sets, and risk tolerance, and eventually a tightly knit network of people, resources, ideas, and investment is formed. Over the last couple of years, this innovative crowdfunding model has been successfully applied in Canada, leading to many successful entrepreneurial projects in entrepreneurial hubs such as Toronto and Vancouver. Dr. Jiawei Zhang and SFU Professor Natalie Bin Zhao recently published an article in the Ivey Business Journal: Crowdfunding’s Cafe Society, to systematically introduce the rationale and key issues associated with this new business model to the academia and practitioners’ community.

Dr. Zhang will compare the Chinese version of crowdfunding with other forms of crowdfunding. He will also use the crowdfunding cases he personally guided and participated in to illustrate the core ideas, principles and methods involved in this new model. Learning from his personal experiences and observations, Dr. Zhang will also discuss common pitfalls and the possible solutions. Through this talk, Dr. Zhang hopes to introduce the Chinese version of crowdfunding as a new potential way to find and collaborate with business partners in the sharing economy and in this internet era with “too much information but not so much trust”.

Co-hosts:
UBC Asia Forestry Research Center
Grizzly Bear Institute of Canada
SFU Jack Austin Center for Asia Pacific Business Studies

Speaker: Dr. Jiawei Zhang
Commentator: Dr. Natalie Bin Zhao

Date: Saturday, March 4th, 2017
Time: 3:30pm – 5:30pm
Location: UBC FSC 1221,
2424 Main Mall, Vancouver
Registration: Please register here.
Language: Mandarin (with English translation)
Inquiries: beedie-events@sfu.ca.
 

Jiawei Zhang (PhD, Dalian Maritime University) is a research fellow at the Jack Austin Center for Asia Pacific Business Studies at Beedie School of Business, Simon Fraser University. He is also an adjunct professor at Dalian Maritime University, chief researcher of the Grizzly Bear Institute of Canada, and a research fellow at the Institute of Strategic Research of Peking University. His research areas include strategic planning, organizational management, business models, and supply chain management. In particular, Dr. Zhang focuses his research on Canada-China and USA-China economic relations as well as crowdfunding business models and niche market behavior. Dr. Zhang was the Chairman and President of a large company in China for more than ten years. He has rich management experience and is an expert in Chinese enterprise reforms and development and in China’s corporation laws. Dr. Zhang is also a successful angel investor and corporate consultant. The book Niche, translated by Dr. Zhang, and the book Rising Niche written by him, are bestsellers in China. His another book—The Winning Makers: The Ugly Duck Management—is popular among young entrepreneurs in China.

Myth-busting Chinese Corporations in Australia and Canada

Posted on:

Date: Friday, January 27th, 2017
Time: 10:00am – 11:30am
Location: Segal Graduate School
500 Granville Street, Vancouver
Room 2800 (2nd floor)
Registration: Please register here.
Inquiries: beedie-events@sfu.ca.
Among policymakers, media, and the broader public, confusion reigns supreme when it comes to Chinese corporations. State-Owned Enterprises (SOEs) are assumed to be blindly following Chinese Communist Party (CCP) or security service orders with little concern for their own commercial interests. And private Chinese firms are conflated with SOEs and viewed as pawns in the CCP’s regional expansion strategy, despite the enormous growth of the Chinese private sector over the past two decades.Lurking behind these judgments is a biased frame of reference that views Chinese investors primarily as a threat, especially when compared to foreign investors from traditional allies of Canada and Australia. This bias exacerbates regional tensions that are already strained due to US-Chinese rivalry. This paper challenges these myths and biases through case studies of major private and State-controlled Chinese corporations in Australia. Subjects will include infrastructure/resources firms (Chinalco, Landbridge Group, Fosun Group), real estate firms (Wanda Group), and hi-tech innovators (Huawei Technologies). While the main focus is on Australia, most of these Chinese companies have also invested in Canada, where similar attitudes towards Chinese investment are evident.

 

Colin Hawes Colin Hawes is Associate Professor and Director of Courses in the Law Faculty at the University of Technology Sydney, Australia. Dr. Hawes studied Chinese at Durham University, UK, and in Beijing and Wuhan, China. He holds a Ph.D. in Asian Studies and an LL.B. from the University of British Columbia (UBC) in Vancouver. He practised law in Vancouver focusing on Asia-related cases before joining the UTS Law Faculty in 2005. Colin is especially interested in the intersection between corporations, law and culture: how cultural values impact on the way that corporations behave in different societies, and how large business corporations can be held accountable for their actions. He has published numerous articles on Chinese corporate governance and Chinese law and society in international journals and a book entitled The Chinese Transformation of Corporate Culture (Routledge Press 2012). Colin is currently engaged in collaborative research projects on the creative interpretation of corporate law by Chinese judges, and on the complex governance structures of large Chinese corporations.

Firm Response to Natural Disasters: Initial Findings from a Survey of 19 Countries

Posted on:

Date: Thursday, November 17th, 2016
Time: 10:00am – 11:30am
Location: Segal Graduate School
500 Granville Street, Vancouver
Room 2800 (2nd floor)
Inquiries: Please contact beedie-events@sfu.ca.
How do firms perceive and response to natural disasters? The occurrence and severity of natural disasters have been increasing over time in past several decades. Word Bank (2016) estimated that the cost of natural disasters worldwide could reach US$314 billion annually by 2030 from $250 billion now. Because most of the critical infrastructure is owned by the private sector, business vulnerability is the vulnerability of society. While managers rated natural disasters as one of their top threats making negative impacts on their organizations (PwC, 2013), no systematic survey for the private sector has been conducted by academics as well as by practitioners. The presentation will show the initial findings from a survey conducted in Asia, North America, and South America. The findings will provide implications to managers that how they need to prepare and respond against the risk of natural disasters.

 

Chang Hoon Oh Dr. Oh is Professor of International Business at the Beedie School of Business, Simon Fraser University. He was the Inaugural Alan Rugman Visiting Fellow in Henley Business School, University of Reading for 2015/2016. Before he joined academics, he worked for Samsung Electronics and Samsung Corporation as a marketing manager at their headquarters. He served his military service as an instructor, first lieutenant ROTC, in South Korea. His research centers on internationalization strategy, business continuity, and globalization versus regionalization. He also proceeds to interdisciplinary works and bridges between business and economics and between business and political science. He has published more than 40 articles in peer reviewed journals in business, economics, and political science, and his works appear in leading journals such as Organization Science, Strategic Management Journal, Journal of International Business Studies, Entrepreneurship Theory and Practice, and Global Environmental Change. He is Co-Editor of Multinational Business Review starting September 2016. He also serves for Journal of International Business Studies and International Journal of Multinational Corporation Strategy as a capacity of editorial board member. He is a Canadian Representative and board member of European International Business Academy since 2012.

Exploring China’s State-led Investment in Latin America: Evidence from the Extractive Sector

Posted on:

Date: Monday, October 17th, 2016
Time: 10:00am – 11:30am
Location: Segal Graduate School
500 Granville Street, Vancouver
Room 2800 (2nd floor)
Registration: Please register here..
Inquiries: Please contact beedie-events@sfu.ca.

 

Exploring Chinese outward foreign direct investment (OFDI) in natural resource sectors in Latin America, based on data covering aid, loans, and FDI, we find that similar to the case in Africa, the Chinese government builds relationships with countries in Latin America through loans and infrastructure projects, which, in turn, helps Chinese firms, especially state-owned ones, secure deals in the natural resource sectors. We also find that Chinese firms’ disputes with governments of Latin American countries are significantly lower than other firms’ disputes with these governments, indicating that the relationship building at the intergovernmental level serves to mitigate the opportunism of host governments, and minimizes political risk at the national level for Chinese firms. In addition, by investigating the social risk implications of the Chinese OFDI model for Chinese firms, we find that Chinese firms’ disputes with nongovernmental stakeholders are significantly higher than other firms’ disputes, indicating the limitation of the state-led Chinese OFDI model. Moreover, Chinese firms may lack firm-level capabilities to deal with the political and social risks arising from nongovernmental political forces.

 

Carlos Vecino, former industrial engineer, holds a Master of Science in Finance from the University of Illinois and a Ph.D. in Administration from the University of Montreal (HEC Montréal) with a focus in International Business and Finance. He is a full professor at the Escuela de Estudios Industriales y Empresariales – Universidad Industrial de Santander and has been a visiting professor of the department of Finance and the department of International Business at HEC Montréal. He has more than twenty-five years of academic experience as an undergraduate and graduate professor in Colombia and Canada. He’s also been a graduate program coordinator, a school director and a consultant for several organizations. Dr. Vecino is the author of several journal articles and papers in the business area, as well as books on topics such as the customs system in Colombia, Foreign Direct Investments in Latin America and Engineering Economy. Currently, he is an invited researcher at the Jack Austin Center of SFU.