As we emerge from the pandemic era, the College of Business looks forward to contributing to Hong Kongs economic recovery which is well underway. One of the foundations of Hong Kong's economic prosperity is a strong regulatory framework, and financial regulation is one of the issues that we look at in this Economics and Finance themed edition of City Business Magazine.
How far should the financial sector be regulated? In recent years the fast-innovating technology sector has come under particular scrutiny. On the one hand regulation is enacted for the greater public good; on the other the possibly negative effects on competitiveness have to be considered. In Regulating big tech in China: Does it matter? Dr Shan Zhao examines the economic effects of antitrust enforcement on Chinese internet platforms. This series of regulatory actions has raised intense debate regarding the impact on both the industry and stock markets and Dr Zhao sheds light on the debate. Another issue is the increasing lack of transparency in financial markets. In Is there a bright side to dark markets? Dr Nilanjan Roy looks at the effect of dark pools. Is the informational efficiency of prices and market quality necessarily degraded when dark trading occurs?
A further area which can be opaque to retail investors, is the way that complex networks of business groups are controlled In The importance of centrality for firms in business groups, Dr James 'Donovan shows how ultimate owners can control such networks through centrally placed firms in business groups.
The necessity to enjoy some measure of financial security is common to us all, and in What is financial literacy and why does it matter? Dr Vikas Kakkar investigates the skills and aptitudes that can help us achieve this goal. Interestingly, a growing body of academic research documents that levels of financial literacy around the world are alarmingly low, with one literacy survey revealing that only 1 out of 3 adults worldwide are financially literate. So, what are the basic financial concepts that we should master? What are the investor strategies that we should emulate, and what should we avoid?
We are fortunate enough to carry three interviews with our College alumni packed full of tips and advice for successful financial careers. Many fresh graduates are keen to enter the world of finance in a client-facing role. Jeff Chan of Colt Technology, Hong Kong highlights the value of gaining work experience of any kind first. As he says "There's a common perception that if you start in the back office you will stay there forever. Based on my experience that is not true. You get your experience first, and then you can start to move towards the middle office."
Benny Luk, Group Executive Managing Director, CEO Greater China, BC Group, recently presented to our EF students and here provides tips on business areas to watch and job prospects for graduating students. Finally, Henry Ko, Vice President of Corporate Development APAC and Chairman of Greater China at Flexport, talks about the explosive growth of a technology-driven start-up in the freight forwarding sector, and the value of sometimes taking a career risk.
I am sure you will find this edition of City Business Magazine interesting. Enjoy the read!
Professor Jeong-Bon Kim
Dean
College of Business
