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ONLINE CAREERS EVENT DRAWS 58 EMPLOYERS AND 1,600 STUDENTS
YOURS TRULY, UNRULY MOB?
COUNTRY: HONG KONG SAR, CHINA SCHOOL: CHINESE UNIVERSITY OF HONG KONG (CUHK) BUSINESS SCHOOL 'Coronacession' has hit economies around the world hard and could cut supplies of funding through traditional means. This, in turn, is likely to turn attention towards non-traditional models, such as crowdfunding. Although said to ‘democratise’ investment, putting faith in crowdfunding's public process, particularly in an online environment, is not without risk. However, crowdfunding models are not driven by unruly mobs, and even display a relatively high level of sophistication, according to research from Keongtae Kim, an Associate Professor in the Department of Decision Sciences and Managerial Economics at the Chinese University of Hong Kong (CUHK) Business School. In research tracking investments through a now defunct crowdfunding platform for mobile phone apps, App Backer, Kim found that experts go into projects ahead of the crowd and set the tone for its ultimate success in raising finance. He determined that the crowd also picked up on whether an expert’s knowledge aligned with the risk underlying a project. ‘Crowds can differentiate different types of signals, and act on those signals. They are not naïve. They will only follow experts when the expertise is aligned with the nature of the uncertainty,’ said Kim. In this sense, the more information that is available to the crowd, the better the decisions it makes. The recommendation here is therefore to require ‘professional’ or ‘angel’ investors to be identified on crowdfunding platforms so that ‘regular’ investors can pay attention to what they do. This would lessen the possibility of the wrong kinds of company securing finance and the public losing faith in crowdfunding models as a consequence. Although, right now, the signs are good in Kim’s opinion: ‘Crowdfunding is fairly rational. If bad-quality projects raise more money than good-quality projects, it means this market isn’t working very well. In my research, we didn’t find that.’ / TBD
COUNTRY: PORTUGAL SCHOOL: ISEG LISBON SCHOOL OF ECONOMICS AND MANAGEMENT, UNIVERSIDADE DE LISBOA While it is still virtually impossible to meet face to face in many countries, online events are becoming more and more ambitious in replicating the feeling of being in a physical space. This was the aim of ISEG Lisbon School of Economics and Management’s (ISEG) careers event in February. Held on a 3D virtual platform made to look like students were on campus at ISEG’s famous Pátio das Francesinhas, the event was able to accommodate 58 employers, including EY, Vodafone, Deloitte, Banco de Portugal, Accenture and L’Oréal. A total of 1,600 students attended, with ISEG reporting that more than over 6,500 CVs were submitted and nearly 3,000 messages were exchanged between students and companies over the course of the day. The 3D platform allowed students to get a complete view of the fair and all its participating companies, while also allowing employers to customise their stands. The event itself, meanwhile, consisted of company talks, virtual speed interviews, and workshops, with emphasis on providing spaces for interactions between students and employers. There was also an option for students to send their CV through to any open jobs or internships a participating organisation was presenting. Employers and students attending the jobs fair were complimentary of the event’s format and benefits. A recruiter from Deloitte, Ana Rebelo Grilo said: ‘The various interactions created throughout the day, together with the company presentation and the chat, enabled students to get to know better Deloitte’s culture and [its] mission and values, as well as to share experiences and clarify doubts about [its] business areas, career opportunities, and current ongoing recruitment processes.’ Mafalda Palmela, a master’s in management student said: ‘It was a day that helped me organise my future and prepare for it… It is through these contacts and the effort made by the Careers Office that we can find opportunities and expand our network.’ / EB
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Share your news and research updates by emailing AMBA & BGA’s Content Editor, Tim Banerjee Dhoul, at t.dhoul@associationofmbas.com
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