The 3rd (2011) Academic Seminar of the Business School was held on 30th March. Professor Zhang Guofu of Dongbei University of Finance and Economics was invited to give a lecture on 'The Assessment Report on Distribution Efficiency of Capital in China'. Professor Yao Hongxin chaired the seminar.
Dr Zhang started by introducing to the attendees his recent research topic: the assessment of distribution efficiency of capital in China. Based on his studies on the macro, micro and financial aspects of capital distribution, Dr Zhang argued, with reference to Jeffrey Wurgler's models, that the performance has been inefficient in China. He then concluded, by analyzing the performance disparity and industrial discrepancy across difference parts of the country and the development of Chinese financial market, that distribution efficiency is almost unattainable. He also suggested that the efforts by public listed companies, through capital restructuring or other mechanisms, have mostly received little effects.
In concluding his lecture, Dr Zhang addressed his awareness of the limited scope of his studies and hence the importance of involving more international factors.
Translate: Seann Huang, for comments and/or complaints please email conghuang@stu.edu.cn
