Prof. Lin Liu

Beihang University, China

Research Area:marketing and finance interface

Experience:He received his Ph.D. from Marshall School of Business, University of Southern California (USC) in 2014 (mentored by Prof. Anthony Dukes), and obtained his MBA and master's degree in Economics from Trulaske College of Business and Department of Economics, University of Missouri (Mizzou) in 2009 (mentored by Prof. Anthony Dukes). Professor X. Henry Wang and Professor Murali Mantrala), received a master's degree in computer science from the Department of Mathematics and Computer Science at Emory University in 2007 (supervisor Professor James Lu), and obtained a degree in engineering from the Department of Computer Science and Technology, Tsinghua University in 2004. Bachelor's degree (instructor Professor Dai Meicai). He is currently a professor and doctoral supervisor at the School of Economics and Management of Beihang University, and previously worked at the University of Central Florida Business School.

In 2013, he won the National Scholarship for Outstanding International Students. In the same year, he was awarded the University of Southern California Doctoral Best Teaching Award and the CIBER Best Paper Award. In 2014, he won the Shankar-Spiegel Best Paper Award jointly issued by Northwestern University and Texas A&M University. In 2016, he won the NET Institute Research Fund of NYU Stern School of Business, and served as the project leader of the In-House Research Fund of the University of Central Florida in the same year. He won the University of Central Florida Dean's Research Award from 2018 to 2020. In 2020, he and his team won the China Operations Research Society-Behavioral Operations Research The Best Paper Award of the Management Branch, and was awarded the JEMS Journal Reviewer Certificate in 2021-2022.

A. Prof. Zhaojun Yang

Department of Finance, Southern University of Science and Technology

Research Area:Finance theory, including optimal portfolio choice, capital asset pricing, pricing of derivative securities, credit risk, loan guarantees and financial innovation

Experience:Dr. Zhaojun Yang is an Associate Professor of Finance at the Department of Finance, an appointment he has held since 2016. Prior to this he was a full Professor at Hunan University since 2002. As a visiting scholar, he visited the University of Leeds from July 2005 to July 2006, visited Columbia Business School at Columbia University from September to October 2010 and from February to August 2014, and visited the university of Macau from October to November 2015.He is a reviewer for Mathematical Reviews and a member of the editorial board of the Journal of Business and Management, of Finance (in Chinese) and of Theory and Practice of Finance and Economics (in Chinese). His research focuses on finance theory, including optimal portfolio choice, capital asset pricing, pricing of derivative securities, credit risk, loan guarantees and financial innovation. His research has been continuously supported by NSFC or SSFC since 2006.

He has published more than 120 peer-reviewed papers in economics, finance, management and mathematics journals. Since 2012, he with his students has published 16 SSCI-indexed papers in the International Review of Finance, Journal of Mathematical Economics, International Review of Financial Analysis, Quantitative Finance, Finance Research Letters, North American Journal of Economics and Finance, Annals of Economics and Finance, International Review of Economics and Finance, Economics Letters, Computational Economics in addition to other SCI-indexed papers and Chinese papers.

Speech Title: Startup fundraising and equity split under double-sided moral hazard with a two-stage investment

Abstract:This paper examines optimal equity split between an entrepreneur (E) without capital and a venture capitalist (V) under double-sided moral hazard with a two-stage investment in a project. The first-stage investment explores project profitability and the final output is a Cobb-Douglas production function of V's investment scale, E's and V's private effort. We show that if profit prospects revealed or on average are good enough, optimal equity split and the welfare loss rate arising from moral hazard are explicitly determined only by inputs' output elasticities. Otherwise, V's share would decrease in project profitability. If the contract can be renegotiable, after the profitability is revealed, we specify the thresholds determining whether E should abandon the project, whether E should go ahead without doing anything, and whether E should increase V's equity or transfer cash to V until V's participation constraint is satisfied.    

A. Prof. Dr. Tsotne Zhghenti 

Business and Technology University, Georgia

Research area:Digital Economics, Institutional Economics, Macroeconomics, Circular Economics

Experience:Dr. Tsotne has a PhD in Economics and working as an Associate Professor at Business and Technology University, Georgia. His current research area consists studies of different parts in digital economy, especially digital trust forming process. Dr. Tsotne has attended more than ten international conferences in European countries and has spent research visits in different universities. He is also a co-founder of regional academic community -“European Institute for Research and Development” – eird.co which is conducting academic events for international researchers.

Speech Title: Sharing Economy Business Models - Current Concepts and the Role of Digital Trust

Abstract:The research discusses the complex processes and challenges in sharing economy, which is a new way to make business in a collaborative manner.

Nowadays, the sharing economy business models are mostly powered by digital platforms. It is explained by huge advantages of digital business which made easy completing of peer-to-peer transactions locally or globally. The research focuses on two areas, firstly on problems of determining the characteristics of sharing economy business model and analyzing difference between concepts including sharing economy, collaborative economy, collaborative consumption, peer economy, etc. In addition, the paper highlights the importance of trust in digital transactions and explores the digital trust factor, which is critical in shaping the satisfaction and usage of the sharing economy platform. The study focuses on the impact of the digital trust factor on platform usage and satisfaction levels, which are key factors that influence the success and sustainability of the sharing economy business model.

Keywords: Sharing Economy, Digital Economy, Digital Trust.

A. Prof. Winifred Huang

School of Management, University of Bath, UK

Research area:SME finance and entrepreneurial finance, Digital finance and financial developments with technology (digital lending/borrowing platforms), Empirical corporate finance and liquidity management

Experience:Dr Winifred Huang is an Associate Professor of Finance at the School of Management, University of Bath. She currently serves on the Editorial Boards of Entrepreneurship Theory and Practice, the British Accounting Review and the Small Business Economics. Her research has been published in several international journals, such as Journal of Money, Credit and Banking, Journal of Corporate Finance, Review of Quantitative Finance and Accounting, European Journal of Finance, International Review of Financial Analysis, and Small Business Economics.  She specialises in financing decisions, firm liquidity management, digital finance, entrepreneurial finance, and mainly to address two main themes:

1. How firms (small/medium/large firm size) manage their liquid assets and how the real effects of financial market conditions influence the firm’s financial decision making on investment opportunities.

2. Alternative finance for SMEs, entrepreneurs and start-ups along with digital technology developments, including crowdlending financing and via initial coin offerings (ICOs).

Her current work focuses on identifying influential effects of financial innovations and financial technology developments on financial markets, addressing challenges that current businesses face,and providingsolutions to adopt new technologies and to improve the customer experience, as well as the job environment conditions.

She organised the 6th Entrepreneurial Finance (ENTFIN) Annual Meeting (8-9 Sep, 2022, University of Bath, UK) and have been acting as the guest editor of two Special Issues* (the European Journal of Finance and the European Financial Management). Also, she has been an ad-hoc reviewer for several internationally well-established journals and conferences, such as Journal of Corporate Finance, Journal of Business Venturing, Entrepreneurship Theory and Practice, British Journal of Management, Journal of Banking and Finance, Journal of Business Finance & Accounting, British Accounting Review, Small Business Economics, Financial Man.

Speech Title:Tokenomics – What Matters to Token Financing, Pricing, and Trading and the current trend

Abstract:The fast growing adoption of financial innovation is rapidly changing the value chain in financial services encompassing banking, insurance, asset management, and capital markets.  Such innovation is helping to revolutionize payments, wealth advisory services (through robotics systems), fundraising, and investment activities. The emergence of blockchain technology and cryptocurrencies have altered the ways in which data can be stored securely and anonymously (through distributed ledger systems). Financial innovation and financial technology developments will create great opportunities but will also pose new sources of risks to the banking sector. Traditional bank business models are being reconfigured. Increased competition and narrower profit margins from traditional banking (as well as capital markets and insurance) areas will force existing players to adopt new technologies, improve customer experience, and open up new revenue streams to address these challenges. These challenges highlight the importance of better understanding the new role of financial intermediations in facilitating efficient capital allocations and economic development. This keynote speech will review the related literature on monetary policy uncertainty, bank performance, digital finance and cover the major factors affecting token financing, pricing, and trading, surrounding our economic environment, and highlight current emerging themes in the digital financing market.