頂尖學者學術講堂 | 著名會計與金融學教授Charles M. C. Lee：投資人互動平臺在企業溝通中的作用

在當今金融數字化的浪潮中，投資者的每一次提問與企業的每一次回應，都在重塑資本市場的溝通模式與信息生態格局。信息披露這一傳統上由上市公司主導的領域，正在人機交互與實時反饋的技術驅動下發生深刻變革。我們既看到技術賦能帶來的信息效率提升，也密切關注新型溝通機制對市場穩定性的實際影響。2025年10月13日，著名會計與金融學教授Charles M. C. Lee將蒞臨光華40年“頂尖學者學術講堂”，以其深厚的研究積淀，為我們解析互動平臺如何緩解信息不對稱、改善市場流動性。

In the current wave of financial digitalization, every query from investors and every response from companies are reshaping the communication patterns and information ecology of the capital markets. Information disclosure, once a domain dominated by listed companies, is undergoing profound transformation driven by technologies that enable human-machine interaction and real-time feedback. While we witness technology-driven improvements in information efficiency, we are also attentive to the practical impact of new communication mechanisms on market stability. On October 13, 2025, renowned accounting and finance scholar Professor Charles M. C. Lee will join the Guanghua 40th Anniversary "Distinguished Scholars Academic Lecture" to share his rigorous research, helping us understand how interactive platforms can alleviate information asymmetry and enhance market liquidity.

主 題|Theme

我們聊聊吧？ Shall We Talk?

投資人互動平臺在企業溝通中的作用

The Role of Interactive Investor Platforms in Corporate Communication

時 間|Time

2025年10月13日19:00-21:00

Monday, October 13, 7:00 - 9:00 PM

地 點|Location

北京大學光華管理學院

Guanghua School of Management, PKU

語 言|Language

英文 (配備中文同聲傳譯)

English (Simultaneous Chinese Interpretation)

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本期講座主題為“我們聊聊吧？投資人互動平臺在企業溝通中的作用”，將深入探討投資者與企業的互動如何影響交易行為與價格發現機制。Lee教授將探討危機時期投資者的信息需求特征、企業管理層回應有效性的關鍵條件，以及互動平臺在促進價格發現、縮小買賣價差、提升市場深度等方面的實際作用；并結合A股市場豐富的高頻數據與自然實驗場景，揭示新型溝通機制如何在信息不確定性較高的情況下，有效穩定市場并優化資源配置。

This lecture, titled " Shall we talk? The role of interactive investor platforms in corporate communication" will delve into how investor-company interactions influence trading behavior and price discovery mechanisms. Professor Lee will address crucial questions about the characteristics of investor information demand during crises, the conditions under which management responses are effective, and the practical role of interactive platforms in enhancing price discovery, reducing bid-ask spreads, and improving market depth. Leveraging extensive high-frequency data and natural experiment scenarios from the A-share market, it will reveal how new communication mechanisms play a vital role in stabilizing markets and optimizing resource allocation amid high information uncertainty.

嘉賓介紹

Speaker

查爾斯·M·C·李

斯坦福大學商學院莫格達姆家族榮休講席教授

華盛頓大學福斯特商學院會計學柯密特·O·漢森講席教授

Charles M. C. Lee

The Moghadam Family Professor, Emeritus, Stanford Graduate School of Business

The Kermit O. Hanson Professor in Accounting, The UW Foster School of Business

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查爾斯·M·C·李（Charles M. C. Lee）現任斯坦福大學商學院莫格達姆家族榮休講席教授，同時擔任華盛頓大學福斯特商學院會計學柯密特·O·漢森講席教授。李教授長期致力于會計與金融領域的研究，曾執教于密歇根大學、康奈爾大學、斯坦福大學及華盛頓大學。此外，他于2003年至2012年間擔任北京大學光華管理學院會計系聯席系主任。

Charles M. C. Lee is the Moghadam Family Professor, Emeritus, at the Graduate School of Business, Stanford University, and the Kermit O. Hanson Professor of Accounting in the Foster School of Business at the University of Washington. Professor Lee has long been dedicated to research in accounting and finance. He has taught at the University of Michigan, Cornell University, Stanford University, and the University of Washington. In addition, Professor Charles Lee served as the Co-Chair of the Accounting Department at Peking University's Guanghua School of Management from 2003 to 2012.

李教授的研究主要關注人類認知局限對市場參與者的影響以及信息融入資產價格的效率機制。他在行為金融學、市場微觀結構、股權估值、財務分析、量化投資與證券市場監管等領域成果豐碩，相關論文發表于會計與金融學科的多家頂級學術期刊。

Professor Lee’s research focuses on the effects of human cognitive constraints on market participants and the efficiency of information incorporation into asset prices. He has published extensively in leading academic journals in accounting and finance on topics that include behavioral finance, market microstructure, equity valuation, financial analysis, quantitative investing, and security market regulation.

李教授曾榮獲諸多獎項，包括2024年美國會計協會財務會計與報告學部終身成就獎、會計文獻杰出貢獻獎以及12項國家級和院級卓越教學獎。其研究成果曾斬獲Q集團羅杰·F·默里論文一等獎、AIMR格雷厄姆與多德卓越獎、IBES全球預期學術研究競賽冠軍、芝加哥量化聯盟CQA-IBES學術競賽優勝獎。他還獲選美國會計協會總統學者，并獲得斯坦福大學亞裔教師杰出成就與服務獎。

Dr. Lee has received numerous awards and honors. Select honors include the 2024 AAA FARS Lifetime Achievement Award, the Notable Contribution to Accounting Literature Prize, as well as 12 National- or School-level Teaching Excellence Awards. His papers have received First Prize for the Q Group’s Roger F. Murray Prize; the AIMR Graham and Dodd Award of Excellence; the IBES Global Expectation Academic Research Competition; and the Chicago Quantitative Alliance CQA-IBES Academic Competition. He has been the Presidential Scholar of the AAA and has received the Stanford University Asian American Faculty Award for Outstanding Achievements and Service to the University and to the Asian American Community.

除學術工作外，李教授曾擔任巴克萊全球投資者（BGI，現屬貝萊德集團）董事總經理，主導全球股票研究業務并共同管理北美主動型股票投資部門，負責監管逾3000億美元資產。他還聯合創辦了Nipun Capital有限合伙企業，目前仍擔任資深顧問，持續將學術見解與行業實踐相融合。

Beyond academia, Professor Lee served as Managing Director at Barclays Global Investors (BGI; now Blackrock), where he led global equity research and co-headed the North American active equity business, overseeing more than $300 billion in assets. He has also co-founded Nipun Capital, LP, and continues to serve as a senior advisor, bridging academic insight with industry practice.

光華40年“頂尖學者學術講堂”

Guanghua's 40th Anniversary Top Scholar Forum

為加快推進“雙一流”優勢學科建設及學科高質量發展，落實2030年整體達到世界頂級商學院研究水準并兼具中國特色的建設目標，光華管理學院以40周年院慶為契機，推出“頂尖學者學術講堂”系列活動，邀請全球頂尖學者和權威專家來院舉辦講座和交流活動，旨在深度探索經濟學和管理學領域的重要科學問題和前沿問題，鼓勵跨學科創新，拓展研究范式邊界，啟迪新的思想理念，加強國際前沿學術交流，提升學術研究的國際影響力。

The "Top Scholar Forum" series, launched to celebrate the 40th anniversary of the Guanghua School of Management and promote the high-quality development of academic disciplines, brings together top scholars and experts from around the world. Through lectures and academic exchanges, the forum focuses on frontier issues and key topics in economics and management, employing innovative academic paradigms and scientific methodologies. It encourages interdisciplinary innovation and the exploration of practical challenges, showcasing the latest research and sparking new ideas and perspectives. This international platform for academic dialogue aims to enhance Guanghua’s academic contributions and further elevate its global influence in the fields of economics and management.

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