Curriculum Vitae Connie (Xiangdong) Mao OFFICE ADDRESS Department of Finance The Fox School of Business and Management Temple University Philadelphia, PA 19122 Voice: 215.204.4895 e-mail: cmao@temple.edu URL: http://astro.temple.edu/~cmao/ CITIZENSHIP: U. S. EDUCATION Cornell University, Johnson School of Management, Ithaca, NY Ph.D. in Finance, conferred in August, 2000 M.S. in Finance, conferred in August, 1998 Cornell University Medical School, New York, NY Ph.D. in Biomedical Science, conferred in August, 1996 Fudan University, Shanghai, P. R. China B.S. in Genetic Engineering, conferred in July, 1990 EMPLOYMENT Temple University, Philadelphia, PA. July 2007 present Associate Professor of Finance (with tenure) & Boettner Research Fellow Temple University, Philadelphia, PA. July 2000 June 2007 Assistant Professor of Finance & Boettner Research Fellow HONORS AND AWARDS The Financial Management Association Teaching Award, Fox School of Business, 2008. The Andrisani-Frank Undergraduate Teaching Award, Fox School of Business, 2007 1
Dean's Research Honor Roll, Fox School of Business and Management, Temple University, 2005 Dean's Research Honor Roll, Fox School of Business and Management, Temple University, 2004 Temple University Summer Research Fellowship (2003, 2004, 2006, 2008) Boettner Research Fellow, Fox School of Business and Management, Temple University, 2003-present Temple University Presidential Research Incentive Summer Research Fellowship for the summer of 2003 Outstanding PhD Student Paper Award at the 1999 Annual Meeting of the Southern Finance Association Cornell University Fellowship, 1996-2000 Named Jack and Susan Rudin Scholar in the Biomedical Science, 1994-1996 Recipient of The Vincent duvigneaud Academic Excellence Award in 1995 PUBLICATIONS AND FORTHCOMING Elyas Elyasiani, Jingyi Jia, and Connie X. Mao, November 2010, Institutional Ownership Stability and the Cost of Debt Financing, Journal of Financial Markets 13, 475-500. Chen, Zhaohui, Connie X. Mao, and Yong Wang, September 2010, Why Firms Issue Callable Bonds: Hedging Investment Uncertainty, Journal of Corporate Finance 16, 588-607. Esther Deng, Elyas Elyasiani, and Connie X. Mao, August 2007, Diversification and the Cost of Debt of Bank Holding Companies, Journal of Banking and Finance 31, 2453 2473. Bailey, Warren, Connie X. Mao, and Kulpatra Sirodom, February 2007, Investment Restriction and the Cross-Border Flow of Information: Some Empirical Evidence, Journal of International Money and Finance 26, 1-25. 2
Bae, Kee-Hong, Warren Bailey, and Connie X. Mao, April 2006, Stock Market Liberalization and the Information Environment, Journal of International Money and Finance 25, 404-428. Gao, Yan, Connie X. Mao, and Rui Zhong, Spring 2006, Divergence of Opinion and Long-Term Performance of Initial Public Offerings, Journal of Financial Research 29, 113-129. Bailey, Warren, Yuan Gao, and Connie X. Mao, 2004, Business, Government, and the Information Environment: Stock Trading and Earnings Shocks in China, Indonesia, and Singapore, Annals of Economics and Finance 5, 165-196. Bailey, Warren, Haitao Li, Connie X. Mao, and Rui Zhong, December 2003, Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses, Journal of Finance 58, 2487-2514. Bailey, Warren, Connie X. Mao, and Rui Zhong, September 2003, Exchange Rate Regimes and Stock Return Volatility: Some Evidence from Asia s Silver Era, Journal of Economics and Business 55, 557-584. Mao, Connie X., Ning Zhang, and Rui Zhong, July 2003, Are Indexed Bonds Really Inflation Proof? A Model of Real and Nominal Term Structures When Money Has Real Effects, Review of Quantitative Finance and Accounting 21, 65-94. Li, Haitao, and Connie X. Mao, August 2003, Corporate Use of Interest Rate Swaps: Theory and Evidence, Journal of Banking and Finance 27, 1511-1538. Mao, Connie X., June 2003, Interaction of the Debt Agency Problems and Optimal Capital Structure: Theory and Evidence, Journal of Financial and Quantitative Analysis 38, 399-423. CURRENT RESEARCH Saiying (Esther) Deng, Elyas Elyasiani, and Connie X. Mao, "BHC Derivatives Usage, Cost of Debt and Lending Patterns" (Under review) Connie X. Mao, David M. Reeb and Yuan Wen, Hedge Fund Activism: Wealth Transfers or Value Creation? (Under review) Trading of Equities: Some Intraday Evidence (Under review) 3
Jongmoo Jay Choi, Connie X. Mao, and Arun D. Upadhyay, Corporate Risk Management under Information Asymmetry: Evidence on R&D and Hedging in the Pharmaceutical Industry (Under review) Connie X. Mao and Wei-Ling Song, To be optimistic or not to be: Underwriter hierarchy/network, analyst recommendations, and securities fraud (Completed manuscript) PRESENTATIONS Connie X. Mao and Wei-Ling Song, To be optimistic or not to be: Underwriter hierarchy/network, analyst recommendations, and securities fraud, presented at the Financial Management Association Annual Meeting in Dallas (TX), October 2008. Elyas Elyasiani, Jingyi Jia, and Connie X. Mao, Institutional Ownership Stability and the Cost of Debt Financing, presented at the Financial Management Association Annual Meeting in Dallas (TX), October 2008. Jongmoo Jay Choi, Connie X. Mao, and Arun D. Upadhyay, Corporate Risk Management under Information Asymmetry: Evidence on R&D and Hedging in the Pharmaceutical Industry, presented at the Financial Management Association Annual Meeting in Dallas (TX), October 2008. Chen, Zhaohui, Connie X. Mao, and Yong Wang, Why Firms Issue Callable Bonds: Hedging Investment Uncertainty, presented at the Financial Management Association Annual Meeting in Orlando (FL), October 2007. Trading of Equities: Some Intraday Evidence, presented at the Financial Management Association Annual Meeting in Salt Lake City (UT), October 2006. Bae, Kee-Hong, Warren Bailey, and Connie X. Mao, Stock Market Liberalization and the Information Environment, presented at the Financial Management Association Annual Meeting in Salt Lake City (UT), October 2006. Esther Deng, Elyas Elyasiani, and Connie X. Mao, Diversification and the Cost of Debt of Bank Holding Companies, presented at the Financial Management Association Annual Meeting in Salt Lake City (UT), October 2006. Trading of Equities: Some Intraday Evidence, presented at the Northern Finance Association Annual Meeting in Montreal (Canada), September 2006. 4
Trading of Equities: Some Intraday Evidence, presented at the Eastern Finance Association Annual Meeting in Philadelphia (PA), April 2006. Bae, Kee-Hong, Warren Bailey, and Connie X. Mao, Stock Market Liberalization and the Information Environment, presented at the Eastern Finance Association Annual Meeting in Philadelphia (PA), April 2006. Esther Deng, Elyas Elyasiani, and Connie X. Mao, Diversification and the Cost of Debt of Bank Holding Companies, presented at the Eastern Finance Association Annual Meeting in Philadelphia (PA), April 2006. Bae, Kee-Hong, Warren Bailey, and Connie X. Mao, Stock Market Liberalization and the Information Environment, presented at the Western Finance Association Annual Meeting in Vancouver, June 2004. Bailey, Warren, Haitao Li, Connie X. Mao, and Rui Zhong, Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses, presented at the Financial Management Association Annual Meeting in Denver (CO), October 2003. Gao, Yan, Connie X. Mao, and Rui Zhong, Venture Capitalists, Underwriters, and IPO Underpricing: Certification or Collusion? presented at the Financial Management Association Annual Meeting in Denver (CO), October 2003. Gao, Yan, Connie X. Mao, and Rui Zhong, Divergence of Opinion and IPO Long-term Performance, presented at the Financial Management Association Annual Meeting in Denver (CO), October 2003. Bailey, Warren, Connie X. Mao, and Kulpatra Sirodom, Investment Restriction and the Cross-Border Flow of Information: Some Empirical Evidence, presented at the Financial Management Association Annual Meeting in Seattle (WA), October 2000. Bailey, Warren, Connie X. Mao, and Kulpatra Sirodom, Investment Restriction and the Cross-Border Flow of Information: Some Empirical Evidence, presented at the Annual Meeting of the Southern Finance Association in Savannah (GA), November 2000. Mao, Connie X., Two Interactive Aspects of the Debt Agency Problem and Optimal Capital Structure: Theory and Evidence, presented at the Annual Meeting of the Southern Finance Association in Key West (FL), November 1999. Mao, Connie X., Two Interactive Aspects of the Debt Agency Problem and Optimal Capital Structure: Theory and Evidence, presented at the Financial Management Association Annual Meeting in Orlando (FL), October 1999. 5
TEACHING EXPERIENCE Investments (Temple University Undergraduate course) Investment Management (Temple University MBA course) Financial Theory I (Temple University Ph.D. Course) Supervising Dissertations - Saiying (Esther) Deng, 2005 (Dissertation Committee) - Jiang Cao, 2006 (Dissertation Committee) - Jingyi (Jane) Jia, 2006 (Dissertation Committee) - Wanli Zhao, 2007 (Dissertation Committee) - Xijia Xu, 2008 (Dissertation Committee) - Yuan Wen, 2008 (Dissertation Committee) - Xiaotian Zhang, 2008 (Dissertation Committee) - Yong Wang, 2008 (Dissertation Committee) - Yibo Xiao, 2009 (Dissertation Committee) - Yong Wang, 2010 (Dissertation Chair) - Yan Hu, present (Dissertation Chair) SERVICE AND PROFESSIONAL ACTIVITY At Temple University Spring of 2010 present Serve on the Graduate Board Committee of Temple University Fall of 2008 present Served on the Merit Committee at the Fox School of Business and Management Fall of 2008 present Served on the Recruiting Committee of the Finance department Fall of 2007 present Served as a co-chair of the sub-committee of the Reaccreditation Review Task Force (RRTF) at the Fox School of Business and Management Fall of 2007 present Served on the Doctor Program Committee (DPC) at the Fox School of Business and Management, and served as a Finance Ph.D. Advisor. 6
Fall 2000 2006 Served as a Undergraduate Advisor for the Finance Department. Help develop and revise the undergraduate program curriculum for the department, and advise undergraduate majors in both their curriculum and career choices. Fall 2000 Spring 2004 Served on the Undergraduate Program Committee (UPC) at the Fox School of Business and Management. Fall of 2002 2008 Introduce the department curriculum and career choices to the Fox School freshman class in a BA50 presentation every semester. Outside the University Community Served on the Financial Management Association Annual Meeting Program Committee (2003, 2006, 2007, 2008, 2010) Serve on the Eastern Finance Association Annual Meeting Program Committee (2007) Served as discussants at the Southern Finance Association Annual Meeting (2000), Financial Management Association Annual Meeting (2003), and Eastern Finance Association Annual Meeting (2006) Served as an ad hoc referee for - Journal of Financial and Quantitative Analysis - Journal of International Business Studies - Journal of Financial Intermediation - Financial Management - Journal of Banking and Finance - Journal of Corporate Finance - Journal of Business Finance and Accounting - Journal of Empirical Finance - Financial Review - Journal of Economics and Business. Member, American Finance Association. Member, Financial Management Association. 7