On June 16, 2023, Xiamen University-Macao University of Science and Technology intercollegiate Academic Forum was held in Xiamen University. This academic forum was jointly sponsored by the Accounting Development Research Center of Xiamen University, the key Research base of Humanities and Social Sciences of the Ministry of Education, the overseas partner base of Macau Accounting Research Center and the Accounting Department of Xiamen University School of Management, and was supported by the School of Management of Xiamen University.
The Forum aims to strengthen academic exchanges and cooperation between Xiamen University and Macao University of Science and Technology, promote academic cooperation in accounting and related disciplines between the Mainland and Macao, and jointly promote the development of academic accounting research. A total of 39 young teachers and doctoral students from Macao University of Science and Technology, University of Macau and Xiamen University participated in the forum. The participants had in-depth discussions on relevant topics, shared academic experience and practice, and reached broad consensus.
Opening ceremony
The conference opened under the chairmanship of Prof. Liu Feng, Director of the Accounting Development Research Center of Xiamen University, editor-in-chief of Contemporary Accounting Review and Professor of Accounting Department of Xiamen University.
At the opening ceremony, former Vice President of Macao University of Science and Technology, Director of Macao Accounting Research Center, Professor Lin Zhijun of Macao University of Science and Technology Business School, and Professor Yu Li Sheng, Vice Dean of Xiamen University School of Management, delivered speeches successively.
Professor Lin briefly introduced the development origin of the Accounting Development Center of Xiamen University with Macao University of Science and Technology and Macao Accounting Research Center, and expressed gratitude to the Accounting Development Center of Xiamen University and the Accounting Department of Xiamen University School of Management on behalf of Macao Accounting Research Center. He called on the two sides to continue to deepen exchanges and close co-operation to jointly promote academic co-operation and exchange in accounting and related disciplines in the Mainland, Hong Kong, Macao and Taiwan and overseas. In his speech, Professor Yu introduced the long history of the business department of Xiamen University, thanked the experts and scholars from Macao to visit Xiamen University, welcomed Professor Lin to "visit home often", and expressed his wishes for the success of the forum.
After the opening ceremony, the conference began in three parts: "Theme report", "Young Teachers Workshop" and "Closing Ceremony".
Theme report
The keynote presentation session was chaired by Professor Liu Chengkun of the Business School of Macao University of Science and Technology.
In the keynote report session, Professor Lin Zhijun of Macao University of Science and Technology and Professor Liu Feng of Xiamen University respectively gave keynote speeches entitled "Reflections on the Innovation of Basic Accounting Theory under High-quality Development Environment" and "Japanese Series of Fraud Cases and Board Research".
In his report, Professor Lin Zhijun detailed the characteristics of high-quality development in the new era, including digitalization driving industrial upgrading, rapid development and duplication of science and technology, high-quality development replacing high-speed growth, and sustainable development becoming the dominant and so on. He further points out the important role of accounting theory in this context, as well as the mutually reinforcing relationship between theory and practice. In view of the re-examination and update of the conceptual framework of financial reporting, Professor Lin made an in-depth analysis from the perspectives of reporting objectives, accounting assumptions, accounting principles, etc., and emphasized how to cope with the challenges of the popularization and application of new technologies, realize the reshaping of accounting profession, and establish an efficient new accounting standard standard system to adapt to the radical change in accounting practice. Finally, Professor Lin called on more young teachers to pay attention to the research of accounting theory, believing that the research of accounting theory needs to be prospectively explored, and the research of basic theory has a long way to go.
Professor Liu Feng to Olympus financial scandal, Kobe Steel fraud and Kawasaki Heavy Industry incident and other cases to cut into the discussion, pointing out that these companies under the influence of the board of directors have a very long time span of financial fraud, further demonstrating that the Japanese board of directors is not only the financial fraud of the informed, but also participants. Therefore, Professor Liu Feng believes that scholars should re-understand the function and role of the board of directors. Finally, Professor Liu Feng suggested that we should have the courage to "disenchantment" and try to understand, discuss and study the board from a new perspective.
Young Teachers Workshop
The Young Teachers Workshop in the morning was led by Associate Professor Liu Ming of the University of Macau and the theme was "Institutional Characteristics and Audit Research".
Assistant Professor Jian Pu of Macau University of Science and Technology presented a paper entitled "The Stickiness of audit fees." She believes that there is a significant positive correlation between the value of goodwill and audit fees, and effective internal control can positively mediate the relationship between goodwill and audit fees.
Professor Lin Zhijun from Macao University of Science and Technology and Professor Liu Feng from Xiamen University put forward constructive suggestions from the perspectives of PCAOB's impact on audit, mergers and acquisitions and corporate risks, internal control and audit effects, and the responsibility game between auditors and regulators.
Liu Xinming, Associate professor of Xiamen University, presented a paper entitled "Can State Auditing Reduce the Cost of Equity Capital of State-owned Enterprises?". She pointed out that after the release of the national audit announcement, the capital cost of state-owned listed enterprises controlled by relevant central enterprises was significantly reduced, and the above relationship was more obvious in companies with a higher degree of information asymmetry.
Professor Lin Zhijun of Macao University of Science and Technology put forward useful suggestions on the comparison of the effect of social audit and state audit in state-owned enterprises, the "absence" of managers in state-owned enterprises, the advantages and disadvantages of equity capital, the nature of national audit announcements and the applicability of results.
Dr. Jia Wenkai from Macao University of Science and Technology reported a paper entitled "Optimizing Corporate Governance under the Game of 'Insider Control' and 'Malicious M&A'". Dr. Jia empirically tested the relationship between anti-takeover clauses and investment behavior by using Chinese data, especially obtained reliable empirical evidence that golden parachute clauses affect investment efficiency. It has enriched the relevant literature on the economic consequences of anti-takeover clauses in China.
Professor Hu Jinshuai of Xiamen University put forward useful suggestions on the integration of the two positions, mechanism testing and classification testing according to different shareholding ratios.
The afternoon Young Teachers Workshop was chaired by Assistant Professor Li Ying of Macao University of Science and Technology, and the theme was "Information Disclosure and Corporate Governance".
He Yuan, Assistant professor of Xiamen University, presented a paper entitled "Product Market Competition and Innovation information Disclosure Transparency". She pointed out that when competition in product markets intensifies, companies will increase the transparency of R&D disclosures, either to prevent competitors from entering, or for financing efficiency reasons.
Associate Professor Liu Ming from the University of Macau, Professor Liu Feng from Xiamen University and Assistant Professor Meng Qingxi respectively put forward useful suggestions on the indicators of transparency of innovation information disclosure, the randomness of investor questions, the choice of performance presentation and the prudence of information disclosure of listed companies.
Zhang Qidi, PhD student of Macao University of Science and Technology, presented a paper entitled "Ownership Structure of Multiple Major Shareholders and Corporate Real Earnings Management". He pointed out that the ownership structure of many major shareholders significantly reduced the real earnings management level of enterprises, and the mechanism of which included strengthening the external audit supervision and the threat of major shareholders' withdrawal.
Liu Chong, a doctoral student from Xiamen University, made in-depth comments on this paper from many aspects, such as the idea and contribution of the article, theoretical logic and empirical results, and put forward more prospects from the malleability level and technical level.
Zhai Weihuan, Assistant professor of Xiamen University, presented a paper entitled "Growth and Forward Earnings-Price ratio". Zhai pointed out that both Forward sales growth (Forward SG) and the net worth to market ratio (BTM) strongly influence the forward Earnings-Price ratio, And accounting conservatism is important for understanding the Forward Earnings-Price ratio.
Associate Professor Liu Ming from the University of Macau and Professor Liu Feng from Xiamen University put forward useful suggestions on the selection and applicability of data, the selection and correlation of variables, etc.
Closing Ceremony
The final Round Table session was moderated by Professor Liu Feng. At the forum, Associate Professor Liu Ming, University of Macau, Professor Liu Chengkun, Assistant Professor Jian Jian, Assistant Professor Li Ying, and Dr. Zhang Tou, Associate Professor Xie Ling, Associate Professor Zeng Quan, Associate Professor Xiong Feng, Assistant Professor Shen Tu Li Rong, Assistant Professor Guo Rui, Assistant Professor Meng Qingxi, Assistant Professor Li Shengnan, Assistant Professor He Yuan, Assistant Professor Zhai Weihuan focus on the new changes in the relationship between sales data and BTM, assets and income in the era of digital intelligence, the connotation of traditional manufacturing stock price, enterprise book value and public The connection and difference of allowable value, how accounting information reflects risk, the difference in the origin of Chinese and western accounting theories, the impact of business changes on accounting principles and other important issues and thought them deeply, speak up and built consensus.
At the closing ceremony, Professor Liu Feng made a brief and wonderful summary, and looked forward to holding an academic forum between the two universities at Macao University of Science and Technology in the second half of the year. At this point, Xiamen University-Macao University of Science and Technology intercollegiate Academic Forum was closed in the applause of experts, scholars and students. The successful holding of this academic forum will promote in-depth academic exchanges and cooperation between the two universities, and boost the development of accounting and related disciplines in the mainland, Macao and overseas, which is of great significance to serving the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
(from https://cas.xmu.edu.cn/en/info/1017/3503.htm )
