City University of Hong Kong (CityU) will confer honorary doctoral degrees on Dr Yukio Hatoyama, Mr Koo Ming-kown and Professor Myron S. Scholes in recognition of their significant contributions to education and the well-being of society. The award ceremony will be held in November 2013 during the University’s Congregation.
Dr Yukio Hatoyama, President of the East Asian Community Institute, will receive an Honorary Doctor of Laws. As the 93rd Prime Minister of Japan from September 2009 to June 2010, Dr Hatoyama was the first ever Prime Minister from the Democratic Party of Japan.
Dr Hatoyama ran for a seat in Hokkaidō's 9th district and was first elected to the House of Representatives in 1986, representing the ruling Liberal Democratic Party. In 1993 he left the Liberal Democratic Party to co-form the New Party Sakigake. He then started the newly-formed Democratic Party of Japan in 1996, and served as its President from September 1999 to December 2002, and from May 2009 to June 2010. He led the party to victory in the 2009 general election, defeating the long-governing Liberal Democratic Party. His membership of the House of Representatives ended in November 2012, and he established the East Asian Community Institute in 2013. Dr Hatoyama holds a BS of Engineering from the University of Tokyo and a PhD in Engineering in Stanford University.
Mr Koo Ming-kown, founder of Nam Tai Electronics, Inc, will receive an Honorary Doctor of Social Science. His company has gone from strength to strength since it was founded in 1975, and it is now a listed company on the New York Stock Exchange. Mr Koo has served Nam Tai in various senior executive and management positions and is now the Executive Chairman and Chief Financial Officer.
As a philanthropic industrialist, Mr Koo has supported the development of education in Hong Kong for many years by making significant donations to the higher education sector and schools. He is also actively involved in charitable matters. Over the years, he has personally made donations to charities on the mainland, in Southeast Asia, Canada and the US. Mr Koo received his Bachelor of Laws degree from National Taiwan University in 1970.
Professor Myron S. Scholes, Frank E. Buck Professor of Finance, Emeritus, at the Stanford University Graduate School of Business, will receive an Honorary Doctor of Letters. He has been Emeritus since 1996, and was called back to active duty in 2010. He is Chairman of the Board of Economic Advisors of Stamos Capital Management. He is the former Chairman of Platinum Grove Asset Management (retired at end of 2009), which he co-founded in 1999.
Professor Scholes is widely known for his seminal work in options pricing, capital market equilibrium, tax policies and the financial services industry. He has published widely in academic journals. He is the co-originator of the Black-Scholes options pricing model, which is the basis of the pricing and risk-management technology that is used to value and to manage the risk of options contained in instruments around the world. For his work on “a new theory to value derivatives”, he was awarded the Nobel Prize in Economic Sciences in 1997.