Recently, the Accounting Society of China released the preliminary winning list for the 12th (2025) Yang Jiwan Scholarship. Bi Yuhan, a 2025 doctoral graduate of BNUBS supervised by Professor Cui Xuegang, was awarded the Outstanding Doctoral Dissertation Award for her thesis Visual Information Disclosure and Capital Market Efficiency — A Synergistic Analysis Based on Information and Noise.

Approved by the Ministry of Finance, the Yang Jiwan Scholarship is recognized as the top national academic honor in China’s accounting community. It is presented biennially. For the Outstanding Doctoral Dissertation Award of this edition, dissertations from accounting doctoral programs across universities nationwide were solicited. After rounds of rigorous review, only five papers were selected for the award.

Adopting interdisciplinary theories and methodologies from economics, psychology and neuroscience, Dr. Bi Yuhan constructed an analytical framework centered on the synergy between information and noise. From the perspective of information processing and decision-making rules, she explored the impact and operating mechanism of visual information disclosure on capital market efficiency. Her research provides solid theoretical guidance and empirical evidence for the practice and regulation of visual information disclosure in China’s capital market.

This marks the first time a doctoral student from BNUBS has received this prestigious award since the scholarship was established in 2002. The achievement not only reflects Dr. Bi Yuhan’s rigorous academic attitude and solid professional competence, but also demonstrates the remarkable progress BNUBS has made in optimizing talent training systems, prioritizing postgraduate education quality and fostering top-tier innovative talents. Going forward, BNUBS will continue to uphold the fundamental task of fostering virtue through education. Leveraging its profound academic heritage and interdisciplinary strengths, the School will further reform the training system for outstanding innovative talents. We will encourage all doctoral students to conduct down-to-earth research with a focus on China’s realities, pursue academic excellence and embrace innovation, so as to cultivate high-caliber innovative talents for building China’s independent knowledge system and advancing Chinese-style modernization.

List of Winners of Outstanding Doctoral Dissertations, 12th (2025) Yang Jiwan Scholarship (5 entries)

Contributed by Bi Yuhan

Edited by Sun Yue

Reviewed by Hu Conghui