Keynote Speakers

Dr. Kun Su, Professor

School of Management, Northwestern Polytechnical University, Xi'an, China

Biography: Dr. Kun Su received the B.S. and Ph.D. degrees from Xi’an Jiaotong University of China. Since 2011, he has been a teacher at the Department of Accounting, School of Management at Northwestern Polytechnical University, and he is a professor since 2020. His main study area includes corporate finance, corporate governance, and information disclosure. He has published more than 20 SSCI papers in internationally renowned journals and 30 Chinese papers in CSSCI journals, including Abacus, European Journal of Finance, International Review of Financial Analysis, Journal of International Financial Markets, Institutions and Money, Technological Forecasting and Social Change, Journal of Business Research, China Accounting and Finance Review,《中国工业经济》,《公共管理学报》,《会计研究》and《中国会计评论》.

Topic: Does Performance Aspiration Gap Affect Stock Price Crash Risk?

Abstract: Using a corporate-level dataset of Chinese listed companies, we studied the effect of the performance aspiration gap on stock price crash risk and the moderate effect of marketization and political connection. Our results show that: when the actual performance is below aspiration level, the aspiration gap will prompt managers to take risky behaviors and information manipulation behaviors, which will increase the stock price crash risk. In the two types of risky behaviors, the effect of aspiration gap on stock price crash through illegal risky behaviors is greater. The impact of aspiration loss on stock price crash risk is affected by the degree of marketization and political connection. Marketization and political connection negatively moderate the association between aspiration loss and stock price crash risk. When the actual performance is above aspiration level, managers did not have the motivation to adopt or evade the risk-taking behaviors. The aspiration surplus has no significant impact on stock price crash risk. We introduce the performance aspiration gap into the study of stock price crash risk, enriching and expanding the research on the economic consequences of performance aspiration gap and the affecting factors of stock price crash risk, providing a new explanation for our deepen understanding of the stock price crash risk in China's capital market.

Dr. Weiwei Wu, Professor

School of Management, Harbin Institute of Technology, Harbin, China

Biography: Dr. Weiwei Wu is a Professor at Harbin Institute of Technology, China, where he received his Ph.D., master’s and bachelor’s degrees in management. He was a SPURS (Special Program for Urban and Regional Studies) fellow from 2011 to 2012 at Massachusetts Institute of Technology, USA, and has served as the consultant of Asian Development Bank (ADB) since 2021. His research focuses on technology management and technological innovation. His research has been supported by the National Natural Science Foundation of China, National Social Science Foundation of China, Ministry of Education of China and etc. He has published more than 100 articles in journals, including Information & Management, Telematics and Informatics, Journal of Knowledge Management, among others. He serves as the Associate Editor of Journal of Management Science. He is the Council Member of Chinese Society of Technology Economics, and the Founding Member of Asia Entrepreneurship Education Association.

Topic: Digitalization and Regional Innovation: A Configurational Analysis

Abstract: Previous studies indicate the relationship between digitalization and regional innovation may be influenced by the interplay of innovation elements. We expand on this perspective by developing a configurational model underlying the mechanism of elements fit, in which digitalization empowers regional innovation when it supports an innovation orientation appropriate for economic development and government support. Utilizing the fuzzy-set Qualitative Comparative Analysis of a dataset of 31 provinces in China, we derive configurations for digitalization empowering regional innovation. Results reveal that digitalization can empower regional innovation in underdeveloped and weak government-supported environments by supporting basic research orientation. In developed and government-supported environments, either a high or low level of digitalization is effective for an appropriate innovation orientation. The core argument of this study is that the relationship between digitalization and regional innovation is dependent on the elements fit among innovation resources, environmental contexts, and innovation orientation, contributing to a more rigorous and configurational innovation ecosystem theory.