数据作为网络化资产

Data as a networked asset

讲座信息

Seminar Information

主讲人

Speaker

李晔教授

华盛顿大学

Professor Ye Li

University of Washington

日期和时间

Date and Time

2026年9月1日（周二）

11:30 - 13:00

September 1, 2026 (Tuesday)

11:30 am - 1:00 pm

地点

Venue

综合教学楼A501会议室

Room 501, Teaching Complex A Building

讲座概述

Abstract

Data is non-rival: a firm's customer data informs other firms about their customers. We uncover a network of inter-firm data conduits embedded in mobile applications. Data sharing induces comovement in firms' operational, financial, and stock-market performances, propagates shocks (e.g., cyberattacks), and induces herding in product design. Apple's privacy policy---a shock to inter-firm data flows---weakened these patterns. We develop a dynamic network model, where firms' performance and growth are interconnected through a data-sharing network. A network-augmented Gordon growth formula emerges for valuing data-generated cash flows. Our valuation metrics incorporate high-order and long-term spillovers and reveal systemically important firms.

主讲人简介

About the Speaker

李晔教授

华盛顿大学

李晔现任华盛顿大学福斯特商学院金融学副教授（终身教职）、富勒特聘教授，主管金融学博士项目；曾任宾夕法尼亚大学沃顿商学院博林格特聘访问教授。李晔获美国哥伦比亚大学金融学博士，博士毕业论文（独立作者）发表于《American Economic Review》；英国伦敦政治经济学院金融与经济学硕士；浙江大学经济学学士，本科毕业论文与史晋川教授、罗德明教授合作发表于《经济研究》。研究方向为货币银行学、金融科技、金融危机、宏观经济、资产定价，论文发表于经济学顶级期刊《American Economic Review》、《Review of Economic Studies》及三大金融学顶刊《Journal of Finance》、《Journal of Financial Economics》、《Review of Financial Studies》。最新研究涉及稳定币监管、加密货币、企业数据共享、支付系统（与美联储合作）。曾受邀在斯坦福、宾大、哥大、芝加哥大学、美国西北大学、UCLA，康奈尔大学、剑桥、牛津、LSE、帝国理工、美联储、欧央行、国际清算银行、NBER等机构讲学，任加拿大央行数字货币顾问。

*Please scroll down for the English version

Ye Li is currently an Associate Professor (tenured) and Fuller Distinguished Professor of Finance at the Foster School of Business, University of Washington, where he oversees the PhD program in Finance. He previously served as the Bollinger Distinguished Visiting Professor at the Wharton School of the University of Pennsylvania. Li Ye holds a PhD in Finance from Columbia University, with his dissertation (sole author) published in the American Economic Review. He also holds a Master's degree in Finance and Economics from the London School of Economics and Political Science, and a Bachelor's degree in Economics from Zhejiang University, with his undergraduate thesis co-authored with Professors Shi Jinchuan and Luo Deming and published in Economic Research Journal. His research interests include monetary banking, fintech, financial crises, macroeconomics, and asset pricing. His papers have been published in top economics journals such as the American Economic Review, Review of Economic Studies, and the three leading finance journals: Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. His latest research involves stablecoin regulation, cryptocurrencies, corporate data sharing, and payment systems (in collaboration with the Federal Reserve). He has been invited to lecture at institutions such as Stanford University, University of Pennsylvania, Columbia University, University of Chicago, Northwestern University, UCLA, Cornell University, Cambridge University, Oxford University, LSE, Imperial College London, the Federal Reserve, the European Central Bank, the Bank for International Settlements, and NBER. He also serves as a digital currency advisor to the Bank of Canada.

冲突与消费者行为

Conflict and Consumer Behavior

讲座信息

Seminar Information

主讲人

Speaker

沈浩教授

香港中文大学

Professor Hao Shen

The Chinese University of Hong Kong

日期和时间

Date and Time

2026年9月4日（周五）

10:30 - 12:00

September 4, 2026 (Friday)

10:30 am - 12:00 pm

地点

Venue

综合教学楼D504会议室

Room 504, Teaching Complex D Building

讲座概述

Abstract

This research explores a novel effect arising from exposure to conflicting review ratings. We posit that exposure to a high (versus low) level of conflict in terms of review ratings causes consumers who like a brand to identify themselves as brand supporters. Such self-categorization then induces a more favorable attitude toward the brand. Namely, in order to emphasize their identification with the “ingroup” with which they agree, consumers who like a brand are more inclined to show a more positive brand attitude when they are exposed to more (vs. less) conflicting reviews. Results from our studies provide good support for our basic prediction as well as the proposed identity-based mechanism, while ruling out several plausible alternate accounts. Collectively, these findings inform several different bodies of work, including research on word-of-mouth communications, the literature on social identity, and also that on brand communities.

主讲人简介

About the Speaker

沈浩教授

香港中文大学

沈浩教授是香港中文大学市场营销学教授。沈教授的研究发表于《Journal of Consumer Research》、《Journal of Marketing Research》、《Journal of Consumer Psychology》、《Journal of Experimental Psychology (Applied)》、《Journal of Experimental Social Psychology》及《Journal of Personality and Social Psychology》等期刊。他曾于2008年获《Journal of Consumer Psychology》颁发青年贡献奖，2011年获香港中文大学颁发青年研究者奖，并于2015年被评选为美国营销科学研究院（MSI）青年学者。沈教授曾担任或现担任《Journal of Consumer Research》、《Journal of Consumer Psychology》、《Journal of Retailing》及《Marketing Letters》等期刊的编审委员会成员。

*Please scroll down for the English version

Professor Hao Shen is Professor of Marketing at The Chinese University of Hong Kong. Professor Shen’s research has been published in journals such as Journal of Consumer Research, Journal of Marketing Research, Journal of Consumer Psychology, Journal of Experimental Psychology (applied), Journal of Experimental Social Psychology, and Journal of Personality and Social Psychology. He won young contributor award from Journal of Consumer Psychology in 2008, young researcher award from the university in 2011, and was named as Marketing Science Institute (MSI) 2015 young scholar. Professor Shen has served or currently serves on the Editorial Review Boards of Journal of Consumer Research, Journal of Consumer Psychology, Journal of Retailing and Marketing Letters.