Liang Hao

Liang Hao

Associate Professor of Finance, Singapore Management University (SMU)

Dr Liang Hao is an associate professor of finance at Singapore Management University (SMU), a research member of European Corporate Governance Institute (ECGI) and an extramural fellow of Tilburg University. His research interests include sustainable finance, impact investing, corporate finance and governance.

Junior high students wearing face masks attend a class on their first day of returning to school following an outbreak of the novel coronavirus, in Guiyang, Guizhou province, China, 16 March 2020. (cnsphoto via Reuters)

Investing in China: Why didn't anyone foresee the regulatory clampdown on the tutoring industry?

Since China’s regulatory clampdowns in the after-school tutoring sector, Chinese education sector stocks have dropped and analysts have been left wondering how they were caught on the back foot. SMU academic Liang Hao and postgraduate student Wang Jialun discuss the predictive limitations of ESG (Environmental, Social and Governance) ratings and what the cycle of anxiety that pervades the tutoring industry means for investors.