SME Prof. Jianmin Jia Wins 2019 Fudan Prize for Outstanding Contributions to Management Science

2019 Fudan Management Forum & The Award Ceremony for Fudan Premium Fund of Management was held in Shanghai on Oct 21. Jianmin Jia, presidential chair professor at School of Management and Economics, The Chinese University of Hong Kong, Shenzhen, received the Management Award for Outstanding Contribution, together with Prof. Baiyin Yang from School of Economics and Management, Tsinghua University. Prof. Chunjun Zhao, former dean of Tsinghua SEM, won the "Lifetime Achievement Award", while the Outstanding Contribution Award for Enterprise Management went to Jun Lei, founder president and CEO of Xiaomi Group.

Yang Jiao, chairman of Fudan Premium Fund of Management, secretary of the Communist Party Committee of Fudan University, Endi Zhang, vice-chairman of ShanghaiPeople's Political Consultative Committee, Prof. , Lawrence Lau, honorary chairman of Fudan Premium Fund of Management and the former president of The Chinese University of Hong Kong, and Hongfeng Chai, academician of the Chinese Academy of Engineering and director of China UnionPay delivered their speeches on the award ceremony.  

Jiming Wang, secretary-general of Fudan Premium Fund of Management and academician of the Chinese Academy of Engineering hosted the opening ceremony and introduced guests. Ningsheng, Xu, academician of the Chinese Academy of Sciences and president of Fudan University announced all winners this year. Zhili Chen, vice-chairman of the 11th session of the standing committee of the National People's Congress presented awards to the winners.   

Over 200 people attended the ceremony, including Qidi Wu, the former minister of Education, director of the management science department of National Nature Science Foundation of China, Shanzai Liu, the former vice minister of Foreign Trade and Economic Cooperation, Ningsheng, Xu, president of Fudan University and academician of the Chinese Academy of Sciences, Hongfeng Chai, academician of the Chinese Academy of Engineering, Shanlin yang, academician of the Chinese Academy of Engineering, directors and supervisors of Fudan Premium Fund of Management and students and staff from Fudan University. 

Prof. Yangsheng Xu, president of The Chinese University of Hong Kong and Prof. Wei Xiong, academic dean of School of Management and Economics congratulated Prof. Jia on his award. 

Prof. Xiong said that Prof. Jia made great contributions to management and marketing disciplines. The risk-value theory developed by Prof. Jia provides the theoretical foundation and modal for decision-making behaviors based on the tradeoff between risk and value. The theory also integrates decision preference with perceived risk, forming a unified framework and modal. Prof. Xiong firmly believes that Prof. Jia will continue to lead the marketing group in the School of Management and Economics to make breakthroughs in the future. 

Fudan Premium Fund of Management

Funded by Lanqing Li, the former Vice Premier of the State Council and an outstanding alumnus of Fudan University, Fudan Premium Fund of Management was initially established in 2005. As the first management award foundation in China, it aims to reward the researchers who have made outstanding contributions to the field of management, encourage them to devote themselves to the research, and promote the long-term development of management research in China. “Award of Outstanding Contributions to Management” was firstly established in 2006, covering three sub-fields of Management Science, Business Administration, and Public Management. The Award will reward outstanding researchers from one of the three fields each year. This year, the Foundation selected awards in the field of Business Administration and presented each winner with RMB 650,000 Yuan rewards.   

Jianmin Jia, Presidential Chair Professor at CUHK-Shenzhen 

Prof. Jianmin Jia is the presidential chair professor at The Chinese University of Hong Kong, Shenzhen. He was a Professor and Chairman in the Department of Marketing at The Chinese University of Hong Kong, Chang Jiang Chair Professor appointed by the Ministry of Education, China, and Dean of School of Economics and Management, Southwest Jiaotong University, China. Prof. Jia received his Ph.D. from the McCombs School of Business at the University of Texas at Austin. He serves as a member of the National MBA Education Supervisory Committee of China and an Associate Editor of Decision Analysis (the INFORMS journal). Prof. Jia was a member of the Expert Consultation Committee of the Management Sciences Department of the Natural Science Foundation of China, Academic Trustee of Marketing Science Institute (USA), and Associate Editor of Operations Research.

Professor Jianmin Jia's research interest includes decision analysis, consumer choice, and big data marketing. In decision making under risk, he proposed a preference-dependent measures of standard risk and perceived risk, and developed risk-value theory and models. This new theory unifies a large body of decision and risk phenomena and models, such as generalized disappointment models and an integrated model of disappointment and regret, and has more descriptive power for consumer judgment and decision making. In multi-attribute decision making, he and his co-authors proposed attribute conflict concept and measure and studied its impact on consumer preference uncertainty and decision behavior by using both simulation and experiments. For dynamic consumer decisions, they developed a full Bayesian model for service quality judgment in a competitive environment. Based on the survey and big data, Professor Jia proposed different models for studying coping and communication behavior under various risk situations such as earthquake, SARS, and haze, which had implications for public policy and administration. Professor Jia published in Management Science, Marketing Science, Journal of Consumer Research, Operations Research, Journal of Risk and Uncertainty, Psychological Science, and other leading international journals.

Award Ceremony Speech of Prof. Jia: 

Distinguished Chairman Chen, guests, friends and ladies and gentlemen, good morning! I am very thankful for The Fudan Management Award Foundation to give me this distinguished award. I would also like to express my heartfelt thanks to my academic peers for their recognition and support, and to my colleagues, friends, students and families for their support and help all the time.  

I want to take this opportunity to share my view on management in three aspects. Management is both a science and an art. Entrepreneurs will find the charm of management art, and researchers should take the responsibility upon ourselves to promote the academic research of management. 

I think that management research in China should be developed in-depth in specific areas. Although there are management philosophy and general rules, many meaningful research topics should be found in specific fields of market, operations, information, human resource, finance, and accounting. Combining academic research and practice is a better way to explore profound and extensive scientific issues. 

Chinese management development needs to separate experience from theory. Much traditional management wisdom is only a kind of experience but not a theory. Researchers need to build theory by a strictly academic way and then apply a generalized and logical deduction and inference to form a set of management knowledge systems. The theory reveals causal relation but experience usually relies on correlation. Management researchers need to keep confident in their field instead of being distracted by some business cases.  

Chinese management development needs to focus on research originality. The development of management research in China has undergone a series of stages, from the integration and absorption of the western theory to the application and improvement of Chinese traditional wisdom. During the process, there are conflicts between Chinese culture and western culture and the historical limitations brought by traditional culture. So, to develop management in China, we must keep pace with the times, and adapt scientific and empirical methods to conduct original research.   

With the rapid development of the Internet and big data, more and more Chinese firms focus on innovation, which provides a great number of cases and data for original research in management. It is a great opportunity for researchers to pursue their academic dreams. We hope we can seize the historic opportunity and make every effort to develop management in China. Thank you!

Prof. Yangsheng Xu, president of The Chinese University of Hong Kong and Prof. Wei Xiong, academic dean of School of Management and Economics also congratulated Prof. Jia on his award. 

Prof. Xiong said that Prof. Jia made great contributions to management and marketing disciplines. The risk-value theory developed by Prof. Jia provides the theoretical foundation and modal for decision-making behaviors based on the tradeoff between risk and value. The theory also integrates decision preference with perceived risk, forming a unified framework and modal. Prof. Xiong firmly believes that Prof. Jia will continue to lead the marketing group in the School of Management and Economics to make breakthroughs in the future. 

Photographer: Jiang Yifei