Liquor: Can they mean everything?

Quite occasionally I earned a chance to talk to Yin, a staff working in Ernst & Young.  After the accomplishment of the talk on some professional issues, we turn to the capability for liquors.  In fact, in the past few years, quite a lot of my friends and colleagues have tried to persuade me to improve my capability for this, while, I did very little improvement in this.

I don’t know if it is the influence from my families that provokes my situation today. My daddy is quite a good drinker and he can drink quite much wine during some banquets, including the birthday ceremony for my relatives and wedding ceremony for my friends.  Perhaps I have seen too much occurrence on the unconsciousness from the persons who have drunk too much, including my daddy that I hate the drinking from my heart. Thus I keep the record of taking no wine since my birth, and it lasted to the graduation from Nanjing Normal University and my admission to the Zhongnan University of Economics and Law.

I don’t know if it is the tradition and convention in Hubei that breaks my recording of this. I started to take some wine following the suggestions from my friends. Though my capability for that today evens shows to be embarrassed and even a girl can beat me undoubtedly on a battlefield of drinking, I suppose no further improvement on my capability on this.  Perhaps it is my chillness on alcohol, a special attitude that renders my limitation on this. And such limitation definitely drove me to the rejection of the wines, even champagne during my last trip to Hawaii, but only the acceptance for juice, which, under most occasions, are prepared for girls.

But the limitation can definitely bring me quite a lot of trouble on my job seeking, as many friends suggests. Given China as an example of the Eastern Asia where people pay adequate attention the relationships among the individuals and banquet are taken as a main communication channel for both family and commerce, drinking is undoubtedly to be a good and sufficient way to get closer between persons, no matter whether you are a custom or a manufacturer. Mr. Li, a friend who is working in Eastern Airline of China,, showed me the importance of drinking if a willing to be a manager is considered. And Yin also provides the similar conclusion to me tonight. More importantly, she showed me the importance also applied to the girls, but not only the boys as I initially suggested.

However, the healthy problem and disease that are accompanied by excess drinking cannot be omitted. Too much input of alcohol can lead to problems on lungs and several surveys shows the significant relationship between the drinking and the lung cancer.  But why do so many people keep on drinking even if they are fully aware of this potential threat to their health? The reason can be simple: they want succeed. In a competent world nowadays, succeeding on career means too much, good income, better housing condition, and excellent medical care and so on.

While, can drink be the only sufficient way of communication? The answer is definitely negative. There are some other ways, including Golf, tennis, and others. And why not choose some other activities that can reduce the threat to our health? We are considering the success to our career, its okay, but at the same time, pay attention to your health.

SNAI Lectures II: China Related Problems

继昨天的Joint Workshop之后,今天TJ Wong开始了会计学方面的讲授。同样的,他上午也讲授了大量的研究心得。不过相比Joseph,TJ的见解另有一番风味。我一直奇怪,为什么上财的实证研究会开始的如此之早。今天才知道,TJ在1996年就访问了上财,并开始指导上财的博士进行早期的实证研究。当时的上财也存在着广泛的讨论,是narrative还是positive。但是现在,人家已经不再讨论这个问题。positive的methodology已经成为了一种default,更多的,他们开始关注如何提升研究水平。不知道可不可以这么说呢?我在短短两年内,经历了中国会计研究的变迁,尽管我完全做不了很好的研究,更多的,我需要学习,跟我导师,跟我同门,跟我认识的北大清华上财的同行们。

TJ也很重视中国的Top-Down的研究思路。但是他显然更偏向于会计。它主要提到了两种90年代的中国式研究,即复制美国(Replicate US)或者停留在现象层面(Documenting a Phenomenon)。而更多的,他们倾向于考虑Institutional方面的问题。因为中国的Emerging Market环境会导致很多与US所不一致的Constraints,比如Familiy Firm的问题,高管的Political Cost和Political Connections等等。

同时,TJ认为,由于上述的Institutional Difference,我们的研究就需要有别于美国。更多的,我们需要通过理论来解释中国现象,但是这种理论并不是大多数中国学者认为的代理理论等。更多的,我们需要考虑的是Coase(1937),Coase(1960),Alichan(1967)等早期理论,而这些理论曾构成了Jensen and Meckling(1976)的基础。现在,同样我们需要这些理论来考虑中国问题。在基本理解了制度问题以后,则可以开始研究资本市场(Captial Market)问题。如Valuation,Behavior等等。这条路跟美国发展的轨迹是一样的。没有足够的理论作为基础,那文章就只能是Document a Phenomenon了。

至于学习,TJ则要求大家多读经典文献,而不是一味追求新文献。因为新的文献往往不会去阐述理论,作者往往会认为大家已经熟知所涉及的理论,而这个假设却有悖于中国的PhD学生和青年学者。只有在了解了足够的文章背景以后,读Paper才能具有意义,否则会是一个效率很低的工作。当然,这个问题的话,仁者见仁,智者见智了。

呵呵,先写这些,学到了新东西再写。下午就开始组织理论的学习了。

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