经济学
来源: | 作者:pmo822e43 | 发布时间: 580天前 | 669 次浏览 | 分享到:

Personal Statement

      In a fast developing country like China, various enterprises had been springing up like mushrooms in past years, among which cultural industry and finance are what I found most intriguing. Study of Cultural Industry Management as major and Finance as minor in Shandong University of Finance and Economics, further developed my passion for finance, which I want to practice as my future career.

     Courses such as Finance, Investment Banking, Corporate Finance and Financial Risk Management etc. benefited me greatly, as those courses equipped me with profound theoretical knowledge, financial analytical tools and skills. Apart from the textbooks, related financial books recommended by professors were my alternate source of information, which composed the majority part of my extra reading. Among the many books I read, The intelligent Investor by Benjamin Graham was my favorite. Instead of giving only advice, it analyzed more on the essence of ‘investment’, which is why I believe this book will never be outdated. It may not provide many tools that can be used directly, or some of the investment proposals not quite practical. But the process of exploring the nature of investment is enduring. On this basis, even if time and environment change, the essential key is adaptable to any new era and condition, and could help to draw countless updated and great investment strategies. And through those reading and learning, my passion for finance grew deeper in turn.

     Fully aware of the importance of professional experience to a industry like finance, I had been intentionally cultivating my practical skills and experience through internships since the first year in university. One internship I did was in the Heze Branch of Bank of China, where I was luckily offered an intern job as the assistant to a financial manager. There, in addition to the deepened understanding of financial theory, financial and technical tools and its utilization, I also got a good chance to observe customers’ behaviors and responses to different financial products. And the process of interpreting financial products and principles working behind to customers, in particular, trained my skills in communication. And finally I earned myself a chance to work there as intern every summer vacation. Besides, I’ve always enjoyed watching financial news programs, financial commentary programs and reading financial periodicals, to keep updated with on going big issues in finance industry and how experts interpret them.

     The first important project I did was a study on credit rating system of rural credit cooperatives of China, led by my professor. I was mainly responsible for document search and collation, questionnaires survey, data consolidation and statistical analysis. This research involved theories from a range of disciplines including economics, management, finance, statistics, and adopted methods such as qualitative analysis, quantitative analysis and empirical analysis etc.. We aimed to locate the deficiency of China's rural credit cooperatives internal credit rating, through comparative analysis of several credit rating methods currently in service. On the basis of a large number of empirical analysis, we designed a better credit rating method. Besides, our research located a defect in the model of the homogeneity hypothesis of internal rating system by the new Basel agreement, pointed out that the increase of the loan's heterogeneity will lead to increased expected loan losses, ignoring the heterogeneity of loans will lead to overvalued unexpected losses, thus capital needed was overestimated. Meanwhile, the impact of loan division on loan loss measurement is revealed through data simulation.  We figured that a joint application of the Capra function and the tail correlation coefficient into credit risk management, could provide a solution to address the problem of estimating deviation caused by the three assumptions, single factor model and normal distribution and homogeneity, employed by the Basel protocol and the unexpected loss estimation during time of data deficiency. Finally, combined with the Logit model, commonly used in credit risk management, and Markov Monte C Lofa (MCMC), we improved on the estimation deviation of model parameters. This project lasted for about one year and I was so proud to be a part of it. This experience not only taught me the practical application of various theories and tools, but more importantly, how you should adapt yourself and adjust your plan and methods to the situations encountered.

     Later I took part actively in several projects led by my professors, which includes insurance and internet insurance, analysis of macro-economic effect of internet finance and research on the influencing factors of high tech industry's demand for science and technology insurance. There were 3 papers published. I am glad that I am the co-author. Throughout these research projects, rigorous attitude was always the keynote, every step and investigation we took was thought over and over and analysis results tested again and again.

     With me diving deeper in the world of finance and more experience in related project, I know I had found my career goal. I am going to find myself a job in commercial bank or securities company to learn more about the first hand experience in financial industry till the beginning of  further study in Finance and Economics of master degree in UK. I dream to become an expert and a professor specializing in finance teaching in university in China. The esteemed finance program at your university is well established, with excellent students from all around the world. I hope that I could have the honor to join and pursue my career goal in this diverse and productive community.