Pursuing a PhD at INSEAD wasn’t just about academic growth—it was a transformative journey of intellectual discovery, perseverance, and balancing family life with a demanding research career.
Now stepping into a faculty position as an Assistant Professor, Cai reflects on the challenges and rewards of the PhD experience, offering insights into the value of independent research, industry engagement, and the importance of passion in academic work.
Cai’s journey to INSEAD wasn’t a conventional one. She initially gained practical experience in industry, where she saw firsthand how businesses operate and make financial decisions. However, it was her growing curiosity about the deeper forces shaping corporate financial disclosures and decision-making that drew her back to academia.
“In industry, you can apply knowledge, but in research, you get to ask the big questions,” she explains. “The most important skill I learned at INSEAD was how to identify problems that truly matter.”
Her research now focuses on how companies decide what information to disclose, the factors influencing these disclosures, and how stakeholders—from investors to the public—use this information in decision-making.
While technical training in data analysis, econometrics, and financial modeling was an essential part of her PhD, Cai believes that the most valuable lesson she learned was how to be an independent researcher.“
The real challenge isn’t just mastering research tools—it’s asking the right questions and designing studies that contribute something meaningful,” she says. “At INSEAD, we were encouraged to develop our own research ideas and take ownership of our projects.”
Faculty mentorship played a crucial role in this process. “We weren’t just learning from professors—we were working alongside them,” she explains. “That kind of guidance is what prepares you for an academic career.”
One of the unique aspects of Cai’s PhD experience was the opportunity to connect with industry professionals and external experts.“
We didn’t just focus on academic theory—we also engaged with practitioners to understand what challenges they face,” she says. “This interaction helped shape my research in a way that makes it relevant to real-world decision-makers.”
By working with guest speakers, corporate leaders, and policymakers, she gained insights into how research can influence business practices. “Understanding what matters to industry helps ensure that our research has broader implications beyond academic journals,” she adds.
Cai’s PhD journey was unique in another way—she raised her daughter while completing her doctoral studies. Managing the demands of research while being a mother was no easy feat, but she found support in INSEAD’s flexible and understanding academic environment.“
I had to grow as a researcher while also watching my daughter grow,” she shares. “It was incredibly challenging, but it also taught me discipline and time management in a way that nothing else could.”
She believes that her experience had a positive impact on her daughter as well. “She saw firsthand what dedication looks like—learning to focus when it’s time to work and enjoying family time when the work is done,” Cai reflects.
For aspiring PhD students, Cai offers a crucial piece of advice: find a research topic that truly excites you.“
Passion is what will keep you going,” she says. “PhD research is tough—there will be setbacks, there will be long nights. If you’re not deeply interested in your topic, it will be hard to push through.”
She also cautions against rushing into big projects too soon. “Some students feel pressure to start major research projects right away, but I think it’s better to take time to explore ideas and find the right fit,” she advises.
Her final takeaway? Stay resilient. “Research is a long-term investment,” she explains. “Progress can feel slow, but if you stay committed and keep asking the right questions, the rewards will come.”
Having successfully completed her PhD, Cai is now stepping into her next role—joining a university as an Assistant Professor. Her transition is happening quickly, with little time for rest before she dives into new teaching and research responsibilities.“
I start next week—no break in between!” she laughs. “But I’m excited. It’s the next step in this journey, and I’m looking forward to contributing to the academic community.”
As she embarks on this new chapter, she carries with her the skills, insights, and connections she built at INSEAD. Her story is one of perseverance, intellectual curiosity, and the balance between academia and life beyond it—an inspiring journey for future researchers to follow.