THE ILLINOIS INTERNATIONAL JOURNAL OF ACCOUNTING SYMPOSIUM

To be held jointly with Xiamen University, China

June 4-7th, 2015

Symposium Organizer

Vernon K. Zimmerman Center for International Education and Research in Accounting at the University of Illinois, Urbana-Champaign.

Local Organizer

Xiamen University (Institute for Financial and Accounting Studies，Center for Accounting Studies, and Department of Accounting of School of Management)

Program Sponsors

The symposium is co-sponsored by, Abacus, Journal of Accounting, Auditing and Finance, Xiamen University, and the Zimmerman Center of the University of Illinois and Elsevier, the publisher of the Journal.

Local Host Contacts

Dr. Guohua ZHANG, Coordinator of the Symposium, Professor and Director, International Education Center, the Institute for Financial and Accounting Studies, Xiamen University, ghzhang@xmu.edu.cn, +86-592-2180580

Ms. Sophia YE, Director of the General Office, the Institute for Financial and Accounting Studies, Xiamen University, sophiaye@xmu.edu.cn, +86-592-2181055

Dr. Feng LIU, Vice Dean, School of Management, Xiamen University, cnliufeng@gmail.com, +86-592-2185065

Dr. Xiaohui QU, Professor and Dean of the Institute for Financial and Accounting Studies, Xiamen University, xhqu@xmu.edu.cn, +86-592-2181172 Fax: +86-592-2181787

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The International Journal of Accounting

The International Journal of Accounting is a quarterly publication established in 1966 at the University of Illinois by the late Professor Vernon K. Zimmerman. The aims of The International Journal of Accounting are to advance the academic and professional understanding of accounting theory and practice from an international perspective and viewpoint. The journal recognizes that international accounting is influenced by a variety of forces i.e. governmental, political and economic.

Editor: Professor A. Rashad Abdel-khalik, Professor of Accountancy and V.K. Zimmerman Professor in International Accounting, director of the V. K. Zimmerman Center at the University of Illinois

Vernon K. Zimmerman Center for International Education and Research in Accounting at the University of Illinois

The V. K. Zimmerman Center was originally established in 1962 as the Center for International Education and Research in Accounting (CIERA), leading the nation in the study and teaching of international topics as they relate to the field of accounting. The International Journal of Accounting, coordinated and published by the Zimmerman Center, advances scholarly and professional understanding of accounting theory and practice from an international perspective. Published by Elsevier Science Inc. and edited by Professor A. Rashad Abdel-khalik, the Journal encourages a broad view of the origins and development of accounting with an emphasis on its functions in an increasingly interdependent global economy and invites manuscripts that help explain current international accounting practice.

Illinois’ landmark contributions to accounting research and education date back to 1902, when the first accounting courses were developed. The Illinois tradition of excellence in graduate accountancy education began with the awarding of the Department’s first master’s degree in 1922 and its first Ph.D. in 1939.

Accounting Discipline at Xiamen University

Accounting at Xiamen University was designated the national key discipline in 1987, 2002 and 2007 respectively, by the Ministry of Education, and in 2002 and 2007 five year once national key discipline evaluation ranked number one. Established as a key research base in humanities and social sciences in 2000, the Center for Accounting Studies was evaluated Excellent Base of Humanities and Social Science Studies by the Ministry of Education in 2004. The same year, the Institute for Financial and Accounting Studies was designated a 985 key project, an innovation base in philosophy, humanities and social science studies, by the Ministry of Education. In 2007, the discipline of Business Administration at Xiamen University was evaluated one of the first five “Level 1 National Key Disciplines”.

XMU was the first university that introduced masters’ and doctoral programs in accounting and has made a great contribution to the development of the accounting discipline in China.

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Table of Content

WELCOME REMARK ...............................................................................................................................................3

SYMPOSIUM CO-CHAIR ..........................................................................................................................................4

PANELISTS & THE CHAIR .........................................................................................................................................5

SPECIAL GUEST – CONFERENCE SYNTHESIS ............................................................................................................6

INFORMATION HIGHLIGHTS ...................................................................................................................................8

VENUE ........................................................................................................................................................................ 8 REGISTRATION DESK ...................................................................................................................................................... 8 MOBILE PHONES ........................................................................................................................................................... 8 NAME BADGES ............................................................................................................................................................. 8 AUDIO-VISUAL EQUIPMENT INFORMATION ........................................................................................................................ 8 TRANSPORTATION INFORMATION FOR THE SYMPOSIUM ........................................................................................................ 8 FRIENDLY REMINDERS .................................................................................................................................................... 9

MAPS .....................................................................................................................................................................9

XIAMEN ISLAND(SWISS INTERNATIONAL HOTEL & SELECTIVE HOTELS) ..................................................................................... 9 FLOOR DISTRIBUTIONS OF THE SWISS INTERNATIONAL HOTEL .............................................................................................. 11

THE ILLINOIS INTERNATIONAL JOURNAL OF ACCOUNTING SYMPOSIUM PROGRAM HIGHLIGHTS........................ 12

PROGRAM IN DETAILS .......................................................................................................................................... 13

XIAMEN UNIVERSITY ........................................................................................................................................... 15

CITY OF XIAMEN .................................................................................................................................................. 17

TRANSPORTATION ....................................................................................................................................................... 17 WEATHER .................................................................................................................................................................. 17 TOURIST ATTRACTIONS ................................................................................................................................................. 18

HOTEL INFORMATION .......................................................................................................................................... 20

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Welcome Remark Dear Participants, Welcome to the Illinois International Journal of Accounting Symposium hosted by Xiamen University, Xiamen, Fujian, China. We are delighted that you have joined us. We hope that you will enjoy the opportunities from the symposium to exchange ideas. This symposium’s objectives are to exchange new research ideas, stimulate accounting study, and advance scholarly and professional understanding of accounting theory and practice from an international perspective. We would like to thank the authors, the discussants, the panelists and all the participants who are contributing to make this symposium a success. Very special thanks go to Xiamen University for the generous support to host the symposium. Thank you for coming and have a great symposium! Sincerely,

A. Rashad Abdel-khalik Xiaohui Qu Symposium Co-chair Symposium Co-chair Professor, Ph.D. Professor, Ph.D. V. K. Zimmerman Center Institute for Financial & Accounting Studies University of Illinois Xiamen University USA China

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Symposium Co-chair

Dr. A. Rashad Abdel-khalik attended Cairo University (B. Com. Honors); Indiana University (MBA and MA in economics) and the University of Illinois (Ph.D.). He is a professor of accountancy and director of the V. K. Zimmerman Center at the University of Illinois since 2000. He was the Graduate Research Professor at the University of Florida, on the faculty of Columbia University, Duke University and the University of Alberta. His work appeared in The Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, Organization Studies, and International Journal of Forecasting, ABACUS, and the Journal of Accounting and Public Policy. His book, Accounting for Risk, Hedging and Complex Contracts was published in 2014by Routledge. He authored or coauthored several research monographs; organized numerous research conferences including the annual Illinois International Accounting Symposium. He is a two times winner of the AAA Competitive Manuscript Contest. Was senior editor of The Accounting Review (AAA), founding editor of the Journal of Accounting Literature and is the current Editor of The International Journal of Accounting.

Dr. Xiaohui Qu obtained her Ph.D. from Xiamen University in1989, and is the first female Ph.D. in accounting in China. She was appointed as MinjiangChair Professor to Xiamen University commencing from 2006, Chair professor and director to the Center for Accounting Studies of Xiamen University since 2000, and dean of the Institute for Financial and Accounting Studies commencing from 2010. She has been granted government special allowance for the outstanding contributions to high education by the State Council of China, and is also the expert in assessment on China-Foreign joint-education programs invited by Ministry of Education (MOE) and Advisory Expert of China Accounting Standards Committee. She initiated the Master of Professional Accounting as a national professional education program and has served as a member on the Nationwide MPAcc Teaching Steering Committee and the panel chief of teaching affairs. She has been on the panel of experts for project application assessment of National Social Science Fund, the director for the Committee of Accounting Theory for Accounting Society of China, the member of Social Science Committee of MOE，the editorial advisor and member of the editorial boards of international and domestic journals，and founder of Contemporary Accounting Review. She had served at the Chinese Accounting Professors Association as the president. For her academic contributions, she has been elected as the China’s Outstanding Social Scientist since 2007. Dr. Qu has published many papers, monographs and textbooks on a range of accounting and finance issues and has been the recipient of a dozen grants and awards.

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Panelists & the Chair

Panelists Dr. Feng Liu earned his Ph.D. in Accounting from Xiamen University in 1994, and currently the Minjiang Chair Professor of Accounting at Xiamen University. He had worked at Sun Yatsen University between 2000 and 2010, and still serves as the director of Center for Accounting and Finance and Institutions (CAFI), Sun Yatsen University. Dr. LIU’s research interests focus on China institutional related accounting and finance issues. His publication shows on main leading journals in China. He also publishes several textbooks such as Fundamental Accounting, Financial Analysis. He leads one of the National Excellence Courses Program, Fundamental Accounting, selected by MOE (http://video.jingpinke.com/details? uuid=8a833996-18ac928d-0118-ac928f77-0274). Dr. LIU jointly founded China Journal of Accounting Research, the first China related accounting journal published by an international science publisher, Elsevier (http://www.elsevier.com/wps/ find/journaldescription.cws_home/725541/description). Also, he is an associated editor of International Journal of Auditing. Dr Xiaojiang Pan, earned his Ph.D. degree from Tsinghua University, and holding the qualifications of senior economist and Chinese CPA. He had served as deputy director in the Department of Administration of Accounting Affairs, Ministry of Finance, deputy director in the Chinese Institute of Certified Public Accountants, deputy director, director, and deputy director-general in the World Bank Department and deputy director-general in the International Department, Ministry of Finance，and full-time supervisor on the Board of Supervisors and deputy director-general of the Office of the Board of Supervisors at the Bank of China. In November 2001 he was appointed full-time supervisor on the Board of Supervisors and director-general of the Office of the Board of Supervisors at the Bank of China. In July 2003 he became full-time supervisor on the Board of Supervisors and the director-general of the Office of the Board of Supervisors at the Agricultural Bank of China. From January 2009 to January 2012, he served as a full-time supervisor representing shareholders on the Board of Supervisors and the director-general of the Office of the Board of Supervisors at the Agricultural Bank of China Limited. He is now a professor on special invitation by the Research Institute of Fiscal Science under the Ministry of Finance. Dr. Pan has published 37 papers on a range of accounting, finance and auditing journals, and the monograph Introduction to Accounting Economics：A Conceptual Framework Study of Capital Accounting Theory. Dr. Toshifumi Takada, a professor of Tohoku University Accounting School, served as a CPA examination commissioner from 2001 to 2003. He has held many important posts, including the special commissioner of the Business Accounting Council of the Financial Service Agency, councilor of the Japan Accounting Association, President of the Japan Audit Association, and director of the Japan Internal Control Association. As the chairperson of the core curriculum exploratory committee of the Graduate Schools for Professional Accountancy from 2009 to 2010, Dr. Takada planned and carried out surveys, symposiums and study groups about accounting education and has worked on planning the core curriculum of accounting schools. Dr. Takada, who has played a central role in the establishment and organization of the Japan Association of Graduate Schools for Professional Accountancy, and he is now President of the association and has continued to work to improve the quality of accounting education, and is known For having a wide international network.

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Dr. Soon Suk Yoon is an Accounting professor at Western Illinois University. He is also an emeritus professor at Chonnam National University in Korea for which he had previously worked for 26 years before he joined Western Illinois University in 2013. His main teaching interest is in financial accounting, accounting theory and international accounting. He earned his bachelor’s degree from Chonnam National University, master’s degree from Seoul National University and doctoral degree from the University of Wisconsin-Madison. He had been awarded several times (eight times) for his overall research works or outstanding papers. He was also awarded a Samil (PWC in Korea) distinguished professor by Korean Accounting Association. He was a former president of the Korean Accounting Association. Under his leadership during his presidency, the Korean Accounting Association started many international programs including an exchange program with the Japanese Accounting Association. He was also a former board member of the Korean Accounting Standards Board. When he served as a board member, South Korea made a decision to fully adopt IFRS. He had actively involved in translating IFRS into Korean and taking necessary procedures by participating in the decision making processes, attending public hearings, roundtable meetings, international standard-setting conferences, and other reach-out activities. He also coauthored three IFRS textbooks: IFRS Intermediate Financial Accounting, IFRS Financial Accounting, and IFRS Principles of Accounting with Key Words in Korean. He has published more than fifty original research papers in Korea and international accounting journals, including two most recent papers titled “A Study on the Models for the Estimation of Discretionary Accruals” and “Controlling Shareholders' Opportunistic Use of Share Repurchases”. He also published a scholarly book titled Hedge Accounting and was awarded an Excellent Book Award by the National Academy of Sciences, the Republic of Korea. Panel Chair Dr. Jianming (Jimmy) YE, Professor and Dean, School of Management, Xiamen University, China. He obtained his BS in Mathematics from Xiamen University in 1985，PhD in Statistics from the University of Chicago in 1992, and PhD in Accounting from Columbia University in 2006. During 1992-1998 he was an assistant professor in the Graduate School of Business at the University of Chicago. Starting 1998 he has taught statistics and then accounting in Baruch College, City University of New York. He was tenured at the Stan Ross Department of Accountancy at Baruch College in 2007 and served as its department chair from 2011-2014. He also served as an external dean to the School of Accounting, Southwestern University of Finance and Economics (SWUFE) from 2008-2014. Dr. Ye has published numerous articles in the Journal of American Statistical Association, Annuals of Statistics, and Review of Accounting Studies. His interest focuses on financial statement analysis and equity valuation.

Special Guest – Conference Synthesis

Dr. Sarath is a professor of accounting at Rutgers University and Editor-in-Chief of the Journal of Accounting, Auditing and Finance (JAAF). Prior to coming to Rutgers, Dr. Sarath taught Mathematics at Shiraz University and the University of Calgary and Accounting at the Wharton School, University of Pennsylvania, the Stern School at New York University and the Stan Ross School of Accountancy at CUNY/Baruch. Professor Sarath graduated with honors in Mathematics from the

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University of Cambridge, England; and earned a Ph. D. in mathematics from the University of Calgary and a Ph. D. degree in business administration from Stanford University. He is published widely in Economics, Accounting, Mathematics and Physics journals and is currently on the editorial board of two leading accounting journals. Dr. Sarath has experience both as a management consultant and in litigation support. He has travelled widely and speaks several foreign languages including Russian and Farsi and provided consulting advice to several large organizations including the United Nations, Dr. Sarath is currently the Editor-in-Chief of Journal of Accounting, Auditing & Finance.

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Information Highlights

Venue

The Symposium will be held in the Swiss International Hotel Xiamen 12 Lujiang Street, Xiamen, Fujian, China 361001 Tel: +86 592 6366666 Fax: +86 592 6366665 For hotel room booking at the conference preferential price, please go to: https://illinois.edu/fb/sec/6608786 For other nearby hotel on preferential price, please see the Hotel Information below.

Registration Desk

The registration desk will operate throughout the following times: 8:00am – 10:00pm, June 4, 2015, Lobby, Swiss International Hotel Xiamen

Mobile Phones

In the interest of other delegates and as a courtesy to speakers, please switch off your mobile phone before entering the sessions.

Name Badges

Please wear your name badges at all times during the symposium. Duplicate name badges will not be available.

Audio-Visual Equipment Information

The conference hall will be equipped with a projector and a laptop. Please bring your presentation materials on a flash drive to be uploaded before your presentation commences.

Transportation Information for the Symposium

Between Gaoqi International Airport and Swiss International Hotel Xiamen Local organizer will provide shuttle service between Airport and Swiss International Hotel Xiamen. We would appreciate your indicating on the registration form the times and numbers of your flights of arrival and departure.

If you miss the shuttle, please take a taxi from Airport to Swiss International Hotel Xiamen. A taxi from Gaoqi International Airport to Swiss International Hotel Xiamen will cost you about US$10 (￥62, about 20 minutes). You may also book a hotel limousine on your own cost by email at reservation@swissinternationalxiamen.com.cnor by calling 86 (592) 636 6666 ext. 6884. Please make your booking at least two days in advance. If you are not staying at the Swiss International Hotel Xiamen please make your own transportation arrangement to the symposium venue at your own cost.

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Friendly Reminders

For your safety: Please safeguard your personal belongings. Do not swim in the sea! Please consult with the Swiss International Hotel Xiamen reception desk and the local host contactsonly.

Maps

Xiamen Island (Swiss International Hotel & Selective Hotels)

A: Xiamen University B: Millennium Harbor View Hotel Xiamen C: HeJiaYuan Garden Hotel D: Swiss International Hotel（Symposium Hotel） E: Gaoqi International Airport T3 (International flights including Hong Kong, Macao and Taiwan; Xiamen Airlines, China Southern Airlines and Heibei Airlines Only) F: Gaoqi International Airport T4 (Other domestic flights except Xiamen Airlines, China Southern Airlines

and Heibei Airlines) G: Train Station (Downtown) H: Gulang Island

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Floor Distributions of the Swiss International Hotel

THIRD FLOOR

FOURTH FLOOR

SECOND FLOOR

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The Illinois International Journal of Accounting Symposium Program Highlights

THURSDAY, JUNE 4, 2015

8:00 am – 8:00 pm GENERAL REGISTRATION Lobby, Swiss International Hotel Xiamen

6:30 pm – 9:30 pm RECEPTION Jasmine Hall, Swiss International Hotel Xiamen

FRIDAY, JUNE 5, 2015 (Registration will be open 8:00 AM to1:00 PM)

9:00 am-9:15 am WELCOME REMARKS

Jasmine Hall（4th Floor） 9:15 am-10:30 am PAPER I

10:45 am-12:00 pm PAPER II

12:00 pm-1:30 pm LUNCH BUFFET Le RivageCaf (2nd floor)

1:30 pm-2:45 pm PAPER III Jasmine Hall（4th Floor）

3:00 pm-4:15 pm PAPER IV

6:00 pm-6:30 pm RECEPTION

BanYan Room (3rd floor) 6:30 pm-8:00 pm DINNER

8:00 pm-10:00 pm SOFT DRINKS

SATURDAY, JUNE 6, 2015

9:00 am-10:15am PAPER V Jasmine Hall（4th Floor）

10:30 am- 11:45am PAPER VI

12:00 pm-2:00 pm LUNCH（Vegetable Diet） Pickup at the conference hotel lobby

2:00 pm-3:15 pm PRESENTATION &

PANEL DISCUSSION

Jasmine Hall（4th Floor） 3:30 pm-4:45 pm PAPER VII

4:45 pm – 5:15 pm CONFERENCE SYNTHESIS

5:15 pm-5:30 pm ANNOUNCEMENT for the 2016

SYMPOSIUM &CLOSING COMMENTS

6:30 pm-9:00 pm GALA BANQUET BanYan Room (3rd floor)

9:00 pm-10:00 pm SOFT DRINKS

SUNDAY, JUNE 7, 2015

8:00 am- 12:00pm TOUR (Gulang Island) Pickup at the conference hotel lobby

12:00 pm-2:00 pm LUNCH (Local foods) Linjia Restaurant

2:00 pm-4:00 pm CAMPUS TOUR Xiamen University Main Campus

4:00 pm -5:30 pm BEACH WALK from Breeze Village to Music Square

6:00 pm-9:00 pm DINNER BUFFET Le RivageCaf (2nd floor)

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Program in Details Friday, June 5, 2015

9:00 – 9:15 am Opening Ceremony - Jasmine Hall

Professor A. Rashad Abdel-khalik and Jianfa Li, Vice President & Accounting Professor, Xiamen University, Vice Chairman of Accounting Society of China (or Jianming Ye, Professor &Dean, School of Management, Xiamen University, China)

Welcoming Remarks

9:15 – 10:30 am Paper 1 – Jasmine Hall Cross-listing and Firm Information Environment: Does SOX Section 302 Have Any Material Effect?

Authors: Pietro Bonetti, University of Padova, Italy

Saverio Bozzolan, LUISS University, Italy (presenter) Discussant: Dan Li, Tsinghua University, China

Moderator: Jon Davis, Professor & Chairman, Department of Accountancy, UIUC

10:30 – 10:45 am Coffee Break 10:45 – 12:00 pm Paper 2 – Jasmine Hall

Business Strategy, economic growth, and earnings quality

Authors: Muhammad Nural Houqe, Victoria University of Wellington, New Zealand (presenter) Ryan Kerr, Victoria University of Wellington, New Zealand Reza Monem, Griffith University, Australia

Discussant: In-Mu Haw, Texas Christian University, Fort Worth, USA Moderator: Ira Solomon, Professor & Dean, Tulane University, Louisiana, USA

12:00 -1:30 pm Lunch Buffet – Le RivageCaf

1:30 – 2:45 pm Paper 3 – Jasmine Hall How does being public affect firm investment efficiency? Further Evidence from China Authors: Min Xiao, Xiamen University, China (presenter)

Jiaxing You, Xiamen University, China Jingwen Zhao, Xiamen University, China

Discussant: Zhihong Chen, Hong Kong University of Science and Technology, China Moderator: Jianming Ye, Professor & Dean, School of Management, Xiamen University, China

2:45 – 3:00 pm Coffee Break

3:00 – 4:15 pm Paper 4 – Jasmine Hall Political Institutions, Stock Market Liquidity and Firm Dividend Policy

Authors: Ferdinand A. Gul, Monash University, Malaysia

Karen Lai, The Hong Kong Polytechnic University Walid Saffar, The Hong Kong Polytechnic University Xindong (Kevin) Zhu, City University of Hong Kong (presenter)

Discussant: Sasson Bar-Yosef, The Jerusalem School of Business Administration, Israel Moderator: Feng Liu, Professor & Vice Dean, School of Management, Xiamen University, China

6:00 – 6:30 pm Reception – BanYan Room 6:30 – 8:00 pm Dinner – BanYan Room 8:00 – 10:00 pm Soft Drinks – BanYan Room

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Saturday, June 6, 2015

9:00 – 10:15 am Paper 5 – Jasmine Hall Government control, regulatory enforcement actions, and the cost of equity

Authors: Kun Wang, The Australian National University Yanjun Liu, The Australian National University (presenter) Wanbin Walter Wang, The Australian National University

Discussant: Donghua Chen, Nanjing University, P.R. China Moderator: Xinrong Qiang, Associate Professor, IFAS, Xiamen University, China

10:15 – 10:30 am Coffee Break

10:30 – 11:45 am Paper 6 – Jasmine Hall Do Investment Opportunities reduce managers’ motivation to inflate earnings? Evidence from European

financially constrained firms

Authors: Davide Rizzotti, University of Catania, Italy Claudia Frisenna, University of Messina, Italy （presenter）

Discussant: Audrey Hsu, National Taiwan University Moderator: Tony Jun Ruan, Assistant Professor, IFAS, Xiamen University, China

12:00 – 2:00 pm Lunch – Sweet Gathered Restaurant

2:00 – 3:15 pm Presentation and Panel Discussion

Theme: IFRS in Asia

Panelists: Fen Liu, Professor, School of Management, Xiamen University, China Xiaojiang Pan, Former Member of the Board of Supervisors, Agricultural Bank of China Toshifumi Takeda, Professor, Accounting School at Tohoku University, Japan Soon Suk Yoon, Professor, Chonnam National University, Korea and WIU, USA

Chair: Jianming Ye, Professor and Dean, School of Management, Xiamen University, China

3:15 – 3:30 pm Coffee Break

3:30 – 4:45 pm Paper 7 – Jasmine Hall Do Capital Market Punish Managerial Myopia?

Authors: Jamie Tong, University of Western Australia Feida (Frank) Zhang, Murdoch University, Australia

Discussant: Anne d’Arcy, Vienna University of Economics and Business, Australia Moderator: Soon Suk Yoon, Professor, Chonnam National University, Korea and WIU, USA

4:45 – 5:15 pm Symposium Synthesis

Bharat Sarath, Rutgers University, New York, USA / JAFF Editor

5:15 – 5:30 pm Announcement for 2016 Symposium – Rome, Italy & Closing Remarks

6:30 – 9:00 pm Gala Banquet – Banyan Room

9:00 – 10:00 pm Soft Drinks – Banyan Room

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Xiamen University

The symposium host, Xiamen University (XMU), is one of China’s key universities designated for full state support, in particular famous for her education and research in accounting and finance among others. The university operates in the Special Economic Zone on the coast of the Taiwan Straits. Xiamen University, founded in 1921, was the first university in China to be established by an overseas Chinese leader, Mr. Tan Kae-kee. As a national key university, it carries on its education and research with a full array of 70 undergraduate programs, 159 graduate programs and 95 Ph.D. programs. The University's educational mission, as shown in its motto of “Pursue excellence, Strive for perfection”, is the promotion of learning: learning by students and by faculty.

Institute for Financial and Accounting Studies, Xiamen University

The Institute for Financial & Accounting Studies (IFAS) of Xiamen University, officially established in 2005, is China’s only institute in finance and accounting supported by the “985 Project”, a project funded by the Ministry of Education of China to help leading universities in China to become top universities in the world. The mission of the IFAS is to conduct original research and internationalized teaching. Since its establishment, the IFAS has recruited its faculty members from the Ph.D. graduates of research universities in the United States, United Kingdom, Japan, Singapore, Australia, Belgium, Netherlands, Hong Kong, and Mainland China. The IFAS is devoted to international research collaboration and provides substantial support for high quality research. Members of the faculty have published in worldwide journals such as the Accounting Review, Journal of Accounting Research, Contemporary Accounting Research, The International Journal of Accounting, Financial Management, Journal of Corporate Finance, Journal of Banking and Finance, Journal of Empirical Finance, Journal of Financial Research, Advances in Econometrics, and Applied Financial Economics, etc. The IFAS has launched internationalized Accounting and Finance programs taught in English for master students both home and abroad, and doctoral program taught bilingually, and regularly invites outside senior scholars, practitioners, and government officials to give lectures or speeches. We sincerely welcome qualified potential students from all over the world to join the IFAS, who may apply Chinese Government Scholarship (http://admissions.xmu.edu.cn/en/index). IFAS is an internationally competitive platform that uses English as both teaching and working language, with research evaluation and course design comparable to leading business schools over the world. The IFAS is recruiting researchers in finance and accounting worldwide. We sincerely welcome qualified candidates to join the IFAS. In collaboration with overseas universities, the IFAS enrolls students for inter-university Master’s programs in accounting and finance. The IFAS has launched “1+1 joint Master’s Program” with the University of Illinois at Urbana-Champaign and Tulane University, two of American leading universities, and Massey University, one of New Zealand’s leading research institutions. The IFAS organizes weekly academic seminar series and hosts national summer schools for graduate students, international doctoral consortium, and international academic conferences on accounting and finance such as

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the 2009 FMA Asian Conference, 2011 JIAR Conference of the AAA, and 2011 CAPANA Annual Conference. For more details on the IFAS, please refer to http://ifas.xmu.edu.cn/. Center for Accounting Studies, Xiamen University The Center for Accounting Studies (CAS) of Xiamen University was established in January 2000. The CAS was designated as a national key institute at the end of 2000 by the Ministry of Education. CAS is co-sponsored by the Accounting Regulation Department of Ministry of Finance and XMU. It receives annual funding from and is monitored by the MOE, however, it is under direct administration by XMU.

Department of Accounting, School of Management, Xiamen University

The Department of Accounting was founded in 1924. Since then, with great efforts through generations, it has developed into a national key discipline with a strong faculty, fruitful research, successive talents and excellent teaching and research facilities. The Department of Accounting, Xiamen University was the first to be authorized by the Ministry of Education to award master and Ph. D degrees; the Department offers three undergraduate programs: Accounting, CPA, and International Accounting, the current enrollment of the Department is more than 1100, including undergraduates, master students, Ph.D. students and post-doctoral researchers. Accounting Program of Xiamen University became one of the two national key disciplines in China in 1987. In the 2002 and 2007 national key discipline assessment (five years once), Accounting Program of Xiamen University was ranked No. 1 in China in the area of accounting, was again designated a national key discipline. In brief, Xiamen University’s accounting program is a leading program and well-known national key discipline. The master, doctoral, and postdoctoral accounting programs are among the earliest programs accredited by the MOE. The accounting research team in Xiamen University has received grants from the national “211 Project” since 2000 and the “985 Project” since 2004 respectively. In 2004, a group of experts on behalf of the MOE ranked the CAS as one of the top three outstanding institutes among more than one hundred social science and humanities key institutes.

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City of Xiamen

Transportation

Located in the Special Economic Zone on the coast of the Taiwan Strait, Xiamen is known as the international garden city on the sea, with mild weather, clean air, beautiful beaches, and a unique marriage of traditional Chinese, European colonial and modern architectures. International travelers fly into Xiamen Gaoqi International Airport. Located at the Northeast of Xiamen Island, it is one of China’s busiest airports and 85th busiest airport over the world receiving more than more than 140 national and international flights each day, 200 million passengers yearly. Flights connect Xiamen to 75 cities in China and 17 cities abroad. Travelers fly from locations in Japan, United States, Europe and Korea. Air China, China Southwest Airlines, Shanghai Airlines, Dragon Air, Philippine Airlines, All Nippon Airlines, Korean Airlines, and Japan Airlines among other regional Chinese airlines fly into Xiamen from the most popular destinations in China and Southeastern countries such as Thailand, Sumatra, and the Philippines. To get to downtown Xiamen (about 6.2 miles away), travelers can board the Airport Bus at the sidewalk outside the Arrival Hall. It is a cheap option (it costs 10 Yuan). The airport is also serviced by Xiamen's public buses; a ticket costs 1 Yuan. Taxis can be found outside the arrival hall and they charge 10 Yuan for the first 3 km, about 2 Yuan for each additional mile, plus 50% after 8 km. A taxi from Gaoqi International Airport to the Swiss International Hotel will cost you about US$10 (￥62，about 20 minutes).

Weather

Xiamen has a subtropical climate. It is generally mild and temperate with abundant rainfall. It has an average annual temperature of approximately 21℃. The temperature for the period of the symposium will be 24 and 35 degree centigrade (75-95 Fahrenheit) on average. Winter in Xiamen is not harsh while summer is free from extreme heat. The city has an average annual rainfall of about 1200 mm, mainly concentrated in the months from May to August. Wind power measures between Grade 3 to 4 in general, with northeast wind representing the dominant wind direction. Because of the air currents resulting from the difference in temperature in the Pacific, Xiamen is affected by typhoons three to four times annually. Typhoon season is generally during the months from July to September. For updated weather information please visit: http://www.timeanddate.com/weather/china/xiamen For more information about Xiamen, please visit http://english.xm.gov.cn/

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Tourist Attractions Gulang Island, separated from Xiamen Island by the 500-metre-wide Egret River, with an area of 1.77 square kilometers, enjoys a laudatory title "Garden on the Sea". It was named Gulang, meaning ''drum waves", because the holes in the southwestern reefs hit by the waves make sounds like the drum beating. The air in the islet is fresh. The entire place is free from any sort of vehicles and is particularly quiet. All these render an atmosphere of a fairyland.

Zhongshan Road Walking Stree/Shopping Aera, The Zhongshan Road Pedestrian Street was founded in 1925. Being the heartland of Xiamen’s commercial area, it is 1198 meters long and 15 meters wide. It only takes a few minutes’ walk from you hotel to the street. Most of the buildings along the street were constructed by the returned overseas Chinese in 1920s. Influenced by the architecture style of Western Sea area, most of the buildings have the type of British except a few with France and German flavor. When you are walking around the street, you can not only feel the intense competition of the market economy, but also can taste the fresh aroma of the socialistic civilization. The Qilou Street of Zhongshan Road is the representative of architecture culture of Xiamen City. “Qilou Street” means the street is under buildings. This kind of architecture which takes pink and ivory-white as the main hue has a strong exotic flavor of South Seas area.

Xiamen Botanical Garden is set amidst Wanshi Mountain in the southeastern part of Xiamen Island, also known as Wanshi Botanical Garden. It covers an area of 4.93 square kilometers. The garden is set on rolling hills and dotted with grotesque rocks, forming a dramatic rocky landscape. Major tourist attractions in the garden include “Laughing Rocks of Eternal Peace”, “Dawn Bell Ringing from Heaven’s Border”, “A Thousand Scepters Facing Skywards”, “Jade Scepter on Central Boulder”, “Road on Purpled Cloud”, and “Melodious Instrument

Cave”, all of which are on the list of Xiamen’s top sights. The garden contains more than 6,300 kinds of tropical and subtropical ornamental plants and comprises 10-plus unique smaller dedicated gardens, such as the psammophytes area, the “Palm Island”, the “Rainforest World”, and the araucaria lawn. It’s a leading tourist spot in Xiamen featuring enchanting natural landscape, rich cultural heritage, and fantastic plant formations. Xiamen Horticulture Expo Garden is built especially for the 6th China International Garden & Flowers Exposition, with a planning area of 6.67 square kilometers and the main

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garden composed of 5 islands, being the world’s largest aquatic horticulture expo garden with the most complete garden genres. Island Ring Road was built by government in 1991, the whole construction took about 10 years. By the end of 1999, the Island Ring Road had been well equipped with various facilities, from the Hulishan Fortress to the Xiamen International Conference and Exhibition Center. From here, you can see the view of Xiamen Bay, and the theme sculptures exhibited along the road. In fact, the road is a delicate balance of natural beauty, humanity, and the spirit of sports.

Xiangshan International Yacht Club project is located in the east of Xiamen island xiangshan typhoon shelter dock, with little kinmen across the sea. It lies to the east of the International Conference Center, the International Tennis Centre, to the north of Xiamen International Convention and Exhibition Center.

Mooncake Gambling Folk Park is located in the national 4A-class scenic spot of the tourist area of Haicang Bridge, taking the mooncake gambling activity at the Mid-autumn Day as the major experiencing content, which mixes the historic anecdotes of mooncake gambling and the unique Minnan folk customs together, making every tourist gradually appreciate the long standing and well-established mooncake gambling on their visits. For more detailed information on transportation and tourist attractions, please refer to the following webpage: http://english.xm.gov.cn/citytour/ or

http://www.tour-beijing.com/fujian_xiamen_travel_guide/ or http://www.travelchinaguide.com/cityguides/fujian/xiamen/transportation/

UserfulPhone Number

Phone Directory Service: 114

Taxi: 0592-5320000 (minimum Yuan10)

E-Call-Taxi: 968890 (minimum Yuan 20)

First Aid: 120

Police: 110

Fire Alarm: 119

Questions: Questions about the symposium may be addressed to Ms Sophia YE at sophiaye@xmu.edu.cn - 19 -

Hotel Information

Swiss International Hotel Xiamen (Conference hotel)

Enjoying a prime city location on Xiamen Island, the Swiss International Hotel Xiamen is a contemporary yet classic upscale hotel that offers the savvy business or leisure traveler ultimate comfort and style with breathtaking views. While business, shopping, entertainment, sightseeing hubs and the airport are within easy access when you stay at Swiss International Hotel Xiamen, and the Xiamen's famed Gulangyu Island is right at the doorstep with the ferry terminal just a 10 minute walk away. For hotel room booking at the conference preferential price, please go to: reservation@swissinternationalxiamen.com.cn (mention TIJA Symposium for preferential price) Please mention TIJA Symposium for preferential price. Tel: 86 (592) 6366666-6812 Fax: 86 (592) 297 1918 12 Lu Jiang Dao, Xiamen, Fujian 361001, China Hotel Website: http://www.swissinternationalxiamen.com.cn/en/home

Millennium Harbor View Hotel Xiamen

(Conference elective hotel, 5 minutes to conference hotel on foot) Please mention TIJA Symposium for preferential price. corp1@millenniumxiamen.com

Room Type Retail Price Including 1-2BKF

Special Offer Including 1-2BKF

Sea View King/Twin US$339 US$130

City view Suite US$335 US$147

Executive Sea view King/Twin US$396 US$195

Executive Sea view Suite US$412 US$212

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Tel: 86592-202 3333 ext.6634 Fax: 86592-2053279 No.12-8 Zhen Hai Road, Xiamen 361001, Fujian, P.R.China Hotel Website: www.millenniumxiamen.com Global Website: www.millenniumhotels.com

Room Type Room Rate

Commercial king/Twin Room US$98 net/room/night (with 1-2 breakfast)

Deluxe King/Twin Room US$114 net/room/night (with 1-2 breakfast)

Executive Club Room US$130 net/room/night (with 1-2 breakfast)

He Yi Jia Garden Hotel（5 minutes to Main Campus of Xiamen U. on foot)

Not convenient for foreigners. Please mention TIJA Symposium for preferential price. 495 Siming Road South, Xiamen, Fujian, P.R.China 441872658@qq.com (Attn: Ms.Martina Kang) Tel: 86-592-2577333 MP: 18905924330 Fax: 86-592-2092222

Room Type Retail Price（RMB room/night） Special Offer（RMB room/night）

Double Room 818 Net 330(with 1-2breakfast)

Single Room 818 Net 330(with 1-2breakfast)

Superior Room 880 Net 358(with 1-2breakfast)

Wish you a pleasant stay in Xiamen!

Institute for Financial and Accounting Studies, Xiamen University

Center for Accounting Studies, Xiamen University

Department of Accounting, School of Management, Xiamen University

422 Siming Rd. South, Xiamen, Fujian, China 361005

Tel: +86-592-2181055; 2180580; 2187763; 2181523

Fax:+86-592-2181787; 2181520

Email: sophiaye@xmu.edu.cn; ghzhang@xmu.edu.cn

http://ifas.xmu.edu.cn; http://cas.xmu.edu.cn

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