Qi Dong Arizona State University W. P. Carey School of Business Department of Finance BAC 519 400 E. Lemon Street Tempe, AZ 85287-3906 Tel: Home (cell, voice mail) +1-480-358-8349 Office (ASU) +1-480-965-3131 Fax (ASU): +1-480-965-8539 E-mail: [email protected] Home Address: 1249 East Spence Ave. Apt. 216 Tempe, AZ 85281 EDUCATION Arizona State University Xiamen University Ph.D. in Finance Bachelor in Financial Engineering May 2015 (expected) 2009 PASSED COMPREHENSIVE EXAMS: June 2012 RESEARCH: DISSERTATION: The Exit of Private Equity after IPOs: Evidence from Secondary Equity Offerings Abstract: I analyze secondary equity offerings (SEOs) as a mechanism by which private equity sponsors exit their investments after IPOs of portfolio firms, and examine the effects on liquidity and ownership structure. Private equity typically maintains ownership for a lengthy period after an IPO. There is a significant decline in portfolio firm value at announcements of SEOs, but greater share liquidity mitigates this decline. The reputation of private equity sponsors has a significant effect on the share price reaction to SEOs. The profitability of portfolio firms significantly exceeds that of benchmark firms both prior to and after SEOs. The evidence from SEOs suggests that private equity sponsors successfully prepare these portfolio firms for an exit from private equity control. WORKING PAPERS “The Effects of Secondary Offerings by Private Equity Firms” RESEARCH IN PROGRESS “Alternative Exits of Private Equity Firms after IPOs” “Corporate Governance Changes after IPOs of Private Equity Portfolio Firms” AREAS OF RESEARCH INTEREST Corporate Finance, Banking, Private Equity AREAS OF TEACHING INTEREST Corporate Finance, Banking, Asset Pricing PROFEESIONAL EXPERIENCE Hang Seng Bank, Summer 2008 Responsibilities: Derivative option pricing of the probability that the HK Dollar will breach foreign exchange bands. Scenario analysis, binomial tree, Monte Carlo simulation Graduate/Research Assistance for Prof. Marie E. Sushka, Arizona State University, 2012–present Data base management and statistical methods (e.g., event studies, regression analysis, logit/probit analysis, operating performance studies, hazard analysis) Teaching Assistant: Management of Financial Institutions (ASU Finance 431) VISA STATUS: F1 visa LANGUAGES AND COMPUTER SKILLS English (fluent), Mandarin (native), Shanghainese (fluent) Computer languages: C, C++, Matlab, STATA, SAS, Perl UNIVERSITY AND PROFESSIONAL SERVICE EMBA and DBA China Program, W.P. Carey School of Business, 2012–present Responsibilities included translating and editing English course materials (e.g., class presentation slides) into Chinese. Doctoral Student Representative, Finance Department Ph.D. Committee, 2012–2013 AWARD AND RECOGNITION Arizona State University departmental scholarship, 2011–present REFERENCES Marie E. Sushka Chair of Dissertation Professor of Finance W.P Carey School of Business Tempe, AZ 85287 +1-480-820-5949 [email protected] Myron B. Slovin Co-Chair of Dissertation Visiting Professor of Finance HEC Paris Paris France +33-1-4647-6045 [email protected] Luke C.D. Stein Committee Member Assistant Professor of Finance W.P. Carey School of Business Tempe, AZ 85287 +1-480-965-9412 [email protected]
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