The Twenty-eighth Session of Academic Forum of Excellence 2023 of the Business School for the 20th Anniversary Celebration of the Establishment of the Business School and the MBA Education Center Successfully Organized

On the morning of December 19, 2023, the Business School held the Twenty-eighth Session of Academic Forum of Excellence 2023 of the lecture series of the Business School for the 20th Anniversary Celebration of the Establishment of the Business School and the MBA Education Center in Conference Room 615 of the Main Teaching Building of the Xueyuan South Road Campus of Central University of Finance and Economics. Associate Professor Wang Tang from the University of South Florida College of Business was invited to speak in this lecture. More than twenty people, including faculty, doctoral students and master students, participated in this event.

The conference was chaired by Professor Lin Song, Dean of the Business School. Before the lecture officially began, Dean Lin gave a detailed introduction to the resume of Associate Professor Wang Tang. Mr. Wang Tang is an associate professor at the Nault Center for Entrepreneurship at the University of South Florida College of Business, where he teaches research courses in business planning and other areas. His principal research interests focus on technology entrepreneurship and innovation management, including product development, academic entrepreneurship and high-level team management, and his research focuses on high-tech industries, such as computers, software, biotechnology, and financial technology. His research findings have been published in top journals like Journal of Business Venturing, Journal of Product Innovation Management, Journal of Management, Strategic Entrepreneurship Journal, and Strategic Management Journal, and have won many best paper awards.

The theme of Mr. Wang's lecture was “fail more and fail late: managerial attention and learning in innovation failure.” This study proposes that high frequency of failures leads executives to focus more on project-specific factors after failures than at the firm level. Late failure phases allow executives to expand their attention to external factors in project development relative to internal factors in the project. Such focus and expanded attention, in turn, improves post-failure innovation performance. A sample of 328 failed clinical trials from 156 biopharmaceutical companies supports the research theory.

Upon completion of the sharing, the participating teachers and students actively discussed topics such as research models and data analysis on the theme of Mr. Wang's lecture, which further deepened the in-depth exchange of academic research.

The “Academic Forum of Excellence” is an academic exchange platform established by the Business School to fulfill its mission of "contributing new knowledge to management.” It focuses on cutting-edge theoretical issues and organizational development challenges in the discipline of business administration and Chinese enterprise management practices. By aggregating cutting-edge thoughts and innovative viewpoints from both domestic and international sources, it seeks to explore Chinese solutions for the social and economic development of China.