8-12-2019

Interview with Professor David Yeung, the New Head of the Department of Business Administration

04-06-2010

Prof Yeung_website

Professor David Wing-kay Yeung, a leading cooperative dynamic game theorist with ground breaking contributions in the field, has taken up the headship of the Department of Business Administration in January 2010. He also serves as the University’s Distinguished Research Professor. One of his first contributions to the University is the establishment the SRS Consortium for Advanced Study in Dynamic Cooperative Games. The consortium is a joint research initiative for advanced study in dynamic cooperation under the auspices of the Department of Business Administration of Hong Kong Shue Yan University, the Institute of Applied Mathematical Research of the Karelian Research Centre of Russian Academy of Sciences and the Center of Game Theory of St Petersburg State University. The endeavor brings advanced study in cooperative dynamic games to SYU and makes the Department a distinctive department of business administration.

While the recent financial tsunami has lent perspective to financial institutions, regulatory authorities and investors, what challenges is now faced by business administration educationists after the financial tsunami?

The financial tsunami has shown us several problems in the financial market: greed, fraud and ignorance. The recent financial turmoil also revealed the shortcomings of mainstream business studies nowadays. Individual interest maximizing behaviors by practitioners in the global financial market would deem to deviate from a socially optimal outcome. These self maximizing behaviors (though perceived to be rational from an individual point of view) are leading to socially irrational market outcomes and may even bring about a meltdown of the financial market. The reason why individually rational behaviors would lead to socially irrational market consequences is that the global market is not a perfectly competitive market, and greed and fraud and ignorance are prevalent.

One of the best ways to alleviate this problem is through business education. Our goal is to train bona fide business professionals whose impacts could bring about a better world.

Prof Yeung_website 3

What is your mission and vision towards the department’s future development?

I hope to establish a distinguished SYU Department of Business Administration with its own specialties and niche. The development of specific areas in research and teaching to a world-class level is also in our academic development plan. Furthermore, fostering a congenial, inspirational and mutually motivating academic atmosphere and caring student-teacher relationship in the Department is a top priority.

Other objectives of the Department include the seeking of research funding, the enhancement of the department’s research capability and the development of the department’s curriculum.

How will you lead the department to achieve these goals?

Currently
SYU and its Department of Business Administration have three distinctive advantages. Firstly, the department’s Enterprise and Social Development Research Centre has fused enterprise development with social development and focused on business ethics and wide-ranging social concerns. Secondly, the SRS Consortium for Advanced Study in Dynamic Cooperative Games makes available the world’s leading researchers in cooperative dynamic games for research in economic optimization and optimal business designs. Finally, Shue Yan’s tradition in Chinese moral values education, which are foundations for our society’s harmony, serves as an essential basis for a sustainable business environment. We would integrate these advantages into our curriculum. I am optimistic that SYU would be able to train its business students to become professionals with integrity and mission to serve their society.

How would you strengthen the department’s curriculum with Game Theory?

Game Theory is one of the core subjects of decision science which analyze decision making in an interactive environment. Its application in business study ranges from market development, negotiation techniques and capital accumulation to inventory management. The Department would introduce Game Theory courses and incorporate game theory application to some relevant existing courses. Game theory seminars and tutorials will also be conducted.

The SRS Consortium brings world leading research to SYU. When do you expect the Consortium to publish its first research output?

The SRS Consortium allows SYU to participate in advanced study in cooperative dynamic games and their applications in business with a group of world leading Russian mathematicians. The Consortium has successfully obtained two new game theory solutions which will be appear in the academic journals later this year. We are considering an exhibition day at SYU to exhibit the research output of the SRS Consortium in our Academic Week 2010.

Prof Yeung_website 2

We would like to ask some personal questions. What are your hobbies?

I used to take part in a variety of sports: soccer, field hockey, softball, lacrosse and athletics when I was young. Recently my allergy problem has worsened and I have to refrain from competitive sports. I like to think and read. I enjoy reading Chinese literature, history, popular science and the Bible.

What is your religious?

I have been a Christian for over 30 years. I realize how trivial I am in the presence of God, the creator of the universe. My belief reveals to me that things I don’t know are infinitely more than the things that I do know. And at the same time the Bible teaches me to be loving, compassionate, caring and forgiving.

What is your personal motto?

My personal motto comes from the Old Testament of the Holy Bible: to act justly and to love mercy and to walk humbly with your God (Micah 6:8, NIV).

From: May Issue 2010

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