Loyola at a Glance
Accounting professor receives Chinese research grants
June 8, 2012
Lee J. Yao, Ph.D., the Rev. Joseph A. Butt, S.J., Distinguished Professor in Accounting at Loyola University New Orleans, received two rare academic grants from the Chinese government to study investment strategies, as well as investment education, in the emerging Chinese marketplace. The research project, conducted in conjunction with the Southwestern University of Finance and Economics in China, will cost $182,000 over the next two years and will be conducted by four investigators, two from China and two from the United States, including Yao.
According to Yao, the Chinese government is funding these academic studies for one reason only – to learn how to attract more foreign investors into a growing Chinese economy.
“The first grant will focus on the most effective way to set up a multinational corporation in China,” said Yao. “The idea is to put the data together and provide information to the Chinese government so they can put the appropriate financial and economic infrastructure in place. The second grant has to do with corporate governance in China. Currently, financial reporting at a lot of Chinese companies is not transparent enough. If potential investors don’t believe in the legitimacy of the market, they won’t invest. Hopefully, we can pinpoint the deficiencies so the government can make the appropriate laws to correct the problems and encourage outside investment.”
Yao will travel to China over the Christmas break to work and collect data with the Chinese investigators before returning to Loyola to analyze the information and produce his reports. Yao has just finished a separate study for the Chinese government examining how it affects the market in relationship to different corporate government structures.
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