6. Empirical Study on Earnings of A-share Companies
	Speaker: Dr. Ding Yuan, Dr. Zhao Xinge Host: Mr. Zhang Weiguo,Vice President, Bank of Shanghai Date: March 28, 2008 (Friday) 14:00－15:45  Keynote Speech 15:45－16:15  Coffee Break 16:15－17:00  Interactive Discussion Audience: Top executives from securities, funds and trust companies (20-50 people) Venue: Villa B at 36 Dongyuan Road, Lujiazui Finance and Trade Zone (Free Parking)

Introduction: In this Salon, the earnings of A-share companies will be examined from three perspectives: the composition and quality of the earnings, growth rate, and expected earning growth in the future. Study shows that a significant part of the fast-increasing earnings of A-share companies in 2007 should be attributed to investment income and non-operating income, which are unsustainable. In addition, most listed companies failed to fully share the golden economic boom in the past three years. Moreover, the credibility of the PEG model, which is extremely popular in China now, is questionable.

Biography: Ding Yuan: Dr. Yuan Ding is professor of accounting at CEIBS. Prior to joining CEIBS, he was a tenured faculty member of HEC School of Management, Paris, France. He is the academic deputy president, Research Centre of Complex Data Analysis of Beihang University, Beijing, China, and member of European Accounting Association, French Accounting Association and American Accounting Association. He is also board member of the Global Perspectives on Accounting Education Journal and editorial review board member of The International Journal of Accounting. Dr. Ding's research has been published in Accounting, Organizations and Society, Journal of Accounting and Public Policy, European Accounting Review, Abacus, The International Journal of Accounting, Review of Accounting and Finance, Advances in International Accounting, Issues in Accounting Education, Managerial Finance, Journal of Business Venturing, Corporate Governance: An International Review, International Journal of Disclosure and Governance and several leading French academic journals. Dr. Ding has been giving lectures in financial accounting, financial statement analysis, international accounting and corporate governance at the level of Master’s of Science in Management, MBA, EMBA and PhD in Europe and in China. He has also consulted with, designed and delivered in-company special and open executive education programmes in China and in Europe: In CEIBS, he co-founded the first CFO open programme in China in 2005 and gets involved in many top executive programmes co-organized with Harvard, Wharton, INSEAD, New York University, London School of Economics, IESE and HEC Paris. He received the CEIBS Teaching Excellence Award in 2005.

Zhao Xinge: Dr. Zhao Xinge is associate professor of Finance and director of CFO Programme at CEIBS. Prior to joining CEIBS, he was assistant professor of finance at School of Business Administration, College of William and Mary in the USA. He has published in Journal of Business, Journal of Banking and Finance, and Financial Analysts Journal. He also co-authored an academic book. His research and opinions have been featured in global media, such as CCTV and China Daily in China, International Herald Tribune, Institutional Investor, and CBS MarketWatch in the U.S., Le Figaro and Les Echos in France, and The Edge Singapore in Singapore. Dr. Zhao was also invited as an expert to the Academic and Practitioner Conference on Mutual Funds by Investment Company Institute (ICI), the trade association of the U.S. mutual fund industry. Dr. Zhao was invited to be guest speaker at the China Private Banking and Wealth Management Forum and the Personal Wealth Management Forum. He also served as a judge for the Dragon TV Winner 100 Show and a commentator for the Chinese Business Network/Dragon TV Brainstorm Show.

Organizer: CEIBS Lujiazui International Finance Research Centre
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