The 145th Session of the "BNUBS Famous Expert Lecture Series" - Professor Wang Huacheng's Lecture Was Successfully Held

On the afternoon of April 2, 2025, the 145th session of the "BNUBS Famous Expert Lecture Series" of the Business School of Beijing Normal University was held in Conference Room 9406 of Jingshi Building. This lecture invited Professor Wang Huacheng from the Business School of Renmin University of China to give a special report. Professor Wang Huacheng is a Distinguished Professor of the "Changjiang Scholars Program" of the Ministry of Education, a national - level teaching master of the "Ten - Thousand - Talent Program", and one of the first batch of famous accounting experts of the Ministry of Finance. He currently serves as the Vice - President of the Chinese Accounting Society and the Associate Director of the National Accounting Professional Degree Postgraduate Education Steering Committee. He has long been committed to research related to strategic - oriented financial management. The lecture was hosted by Professor Qi Yudong, the Dean of the Business School of Beijing Normal University, and more than 70 teachers and students from the school participated in this academic exchange activity.

The theme of this lecture was "Strategic - Oriented Financial Management: Research Motivation, Theoretical Exploration, and Case Analysis". Professor Wang Huacheng began with the example of the three heavy burdens of "depreciation, interest, and redundant employees" discovered during his research on the listed company Changhang Phoenix. He emphasized that strategic deviations could trigger systematic financial risks and revealed that the root cause of corporate financial distress often lies in misjudgments at the strategic level.

Centering around the core issue of "how corporate strategies affect corporate financial behaviors", Professor Wang systematically elaborated from three aspects: research motivation, theoretical construction, and empirical approaches. He pointed out that traditional financial management research paid less attention to the strategic context. However, as the starting point of corporate value creation, corporate strategies should serve as an important benchmark for analyzing financial behaviors. On this basis, Professor Wang constructed an "strategy - financial behavior" analysis framework and innovatively improved the strategic measurement method through text analysis, effectively overcoming the one - sidedness and lag in measuring corporate strategies with financial indicators.

In terms of empirical research, Professor Wang shared the research results of his team on the impact of strategic aggressiveness on corporate investment, financing, distribution, and other financial areas. For example, aggressive strategies can significantly increase the tendency of corporate over - investment. The greater the strategic difference, the higher the cost of equity capital the enterprise faces. And enterprises with a differential strategy are more likely to engage in tax avoidance behavior. These studies not only revealed the internal mechanism between strategic choices and financial behaviors but also provided strong support for enterprises to improve strategic fit and optimize financial management.

In the case - analysis section, Professor Wang deeply analyzed the strategic practice paths of JD.com and Apple. He pointed out that JD.com achieved full - process control through self - building logistics, forming a strategic synergy advantage. Apple, on the other hand, constructed a "Yuanbao Curve" profit model with "hardware products + software services", which not only stabilized cash flows but also enhanced its ecological integration capabilities. These enterprises successfully achieved the dual - wheel drive of business models and value creation through the deep integration of clear strategic orientations and financial systems.

At the end of the lecture, Professor Wang further expanded the research perspective and proposed to extend the strategic - orientation research from the enterprise level to the enterprise - group level and the national - strategy - response level. He presented the research results of his team on the impact of the digital - strategy synergy of central enterprises on high - quality development and pointed out that enterprises' active response to national strategies is helpful for improving resource - allocation efficiency and technological innovation capabilities and is a key force in promoting high - quality economic development. Professor Wang's research sparked great interest among the teachers and students present. Everyone actively engaged in in - depth discussions and interactive exchanges with him around the topic of strategic - oriented financial management, and the discussion atmosphere at the scene was warm.

Dean Qi Yudong and Director Zhang Huili of the Accounting Department commented on Professor Wang Huacheng's lecture. First, Dean Qi Yudong thanked Professor Wang Huacheng for his wonderful speech. He believed that this lecture shared the cutting - edge research results of strategic - oriented financial management, deepened the systematic understanding of financial management strategies among teachers and students, and was of great benefit to research and practice in fields such as economics and management. Subsequently, Professor Zhang Huili shared her learning experiences. She believed that Professor Wang Huacheng's research was "at a high level, in - depth, and the research conclusions were of great significance", reflecting the responsibility of academic research to serve national strategies and enterprise development.

This lecture was rich in content and closely integrated theory with practice. It not only deepened the understanding of strategic - oriented financial management among teachers and students but also inspired their strong interest in cutting - edge topics. Amid warm applause from the teachers and students, the 145th session of the "BNUBS Famous Expert Lecture Series" came to a successful conclusion.

Contributed by: Accounting Department

Edited by: Liu Wenxin, Sun Changling

Reviewed by: Wei Hao