Supply and Demand of Phd Graduates in HK

Supply and Demand of Phd Graduates in HK, Singapore, Taiwan and Mainland China TJ Wong The Chinese University of HK AAA 2007

Background • Emergence of around 10 -15 top researchbased business schools in Asia • HK, Singapore, S. Korea, Mainland China and Taiwan • Hiring from top research schools in US programs • Require top US journal publications for tenure • US-style Phd training

Mainland China • Top programs hire from the US - Berkeley, Stanford, CMU etc • 5 -6 programs hire from US and HK, aspire to publish in A and B list US journals • Many other research schools are starting to engage in USstyle empirical research • Successful research collaborations with HK and overseas professors • Example: China Accounting Review Annual Conference with over 100 paper presentations

Survey • Conducted in July 2007 by CAPANA • Survey top research schools w/ Phd programs • HK: 7; Singapore: 2; Taiwan: 4; Mainland China: 6 (response rate 50% to 100%) • Coordinators: Prof. Charles Chen (City U of HK); Prof. Rong-ruey Duh (NTU of Taiwan) and Prof. Xinyuan Chen (SUFE of China)

Highlights • Excess supply of local Phds • Most serious in mainland China: 184 vs. 58 • Singapore, excess demand: 8 vs. 11 • Excess supply serious in financial • Excess demand for overseas graduates, especially US • Excess demand especially in fields of IS and Tax

Demand Supply for 2008 -2011 HK • Local supply & demand • Excess supply: 37 vs. 30 • Excess demand in cost, tax, IS

Demand Supply for 2008 -2011 Singapore • Local supply & demand • Excess demand: 11 vs. 8 • Excess supply only in financial

Demand Supply for 2008 -2011 Taiwan • Local supply & demand • Big excess supply: 55 vs. 14 • Excess demand: IS and tax

Demand Supply for 2008 -11 Mainland China • Just local supply & demand • Huge excess supply: 126 • Mainly in financial • Excess demand in IS, tax, multi

Demand for Overseas Talents for 2008 -11 HK • Local supply: 37 • Demand for local supply : 7 • Demand for US: 19

Demand for Overseas Talents for 2008 -11 Singapore • Local supply: 8 • Excess local supply: 8 vs. 1 • Demand for US: 7

Demand for Overseas Talents 2008 -11 Taiwan • Local supply: 55 • Demand for local supply: 4 • Demand for US supply: 8

Demand for Overseas Talents for 2008 -11 Mainland China • Local supply & demand • Excess local supply: 184 vs. 29 • Demand for US: 18

What should we do? • Improve quality of local programs • Some consolidation in programs, eps mainland China • Create local markets or regional markets • More collaboration among top programs in Asia - high level doctoral consortium • Raise salaries and research culture to attract overseas talents