On September 6th , the China Foundation for Financial Education and Development issued the Notice on Announcement of the Award List of Excellent Research Achievements in Financial Education 2014 (【2014】No. 60), the director of the Institute of Chinese Finance Studies (ICFS) of SWUFE, Prof. WANG Qing’s research paper The Ethical Environment of Stock Market and the Ambiguous Decision-making of Investors: A Theoretical and Experimental Study won the first prize of the paper category.

The project "Review Award of Excellent Research Achievements in Financial Education" was initially sponsored by the China Financial Education Development Foundation in 1995. It gives incentives to outstanding research achievement in the field of financial education to all financial institutions and financial universities in China. Every two years, carries out the review activity among institutions in the financial system and financial universities. According to the scope and standard stipulated in the Excellent Research Achievement Review and Reward Measures, the declaration items available for financial institutions and financial universities are divided into three categories, "monographs", "academic papers" and "distance education" conducted of biannually review awards in financial systems and universities.

Director WANG Qing has long been engaging in teaching and research in the fields of capital market, corporate finance, macro-financial theory and policy, and financial supervision etc. Based on the “cognitive rationality” hypothesis, in this award-winning paper, he elucidated the theory of financial ethics and the experimental results on current behavioral game and "altruistic" preferences, etc. and proposed the concepts of "ethical preference" and "ethical environment" to investigate, from both theoretically and experimentally, the effects of the ethical environment on investors’ “behavior in the context of "ambiguous” market information.