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PhD Candidate 2012
Qiang is a doctoral candidate of
Management and Organization at the University of Maryland.
Qiang’s research focuses on top executive related questions
in entrepreneurial high technology firms. His current
research examines how managerial search affects firm
innovation, factors influencing CEOs rent appropriation at
IPO, and effect of hiring prestigious top executives on IPO
performance. His work has been under review at a top
academic journal or won best paper award at AOM. Before
joining the PhD program, Qiang worked in a well-known
venture capital firm in China.
Dissertation title
CEOs and IPOs: New Perspectives
Dissertation Summary
This dissertation asks when and why do CEOs sell their shares (in “secondary sales”) at IPO? Agency theory predicts that this would send a negative signal decreasing revenues of an offering but that the likelihood of this happening will decrease monotonically with CEO ownership. However, this essay finds an inverted U-shaped relationship between the likelihood of CEO’s sales and equity ownership. The result is explained with a more nuanced view of CEO incentives that draws from the strategy and entrepreneurship literatures.
Dissertation Chair: Brent Goldfarb
Dissertation Committee Members
Primary Research Areas
- Strategy
- Entrepreneurship
- Top executives
- IPO
- Competitive dynamics
Primary Teaching Interests
- Strategy
- Entrepreneurship
Selected Publications, Conference Presentations, and Work- in-Progress
Li, Q. (2010) Do action signals matter in competition? The relationship between action signals and reaction intensity.
BPS Best Paper Proceedings, AOM annual conference, Montreal, Canada, 2010.
Li, Q., Maggitti, P., Smith, K.,Tesluk, P., & Katila, R. Top management search for innovation: The role of search terrain and process. Under 2nd review at
Academy of Management Journal.
Li, Q. CEO rent appropriation at IPO: the role of CEO equity ownership and corporate governance.
Li, Q. Do action signals matter in competition? The relationship between action signals and reaction intensity.
Li, Q. Dress more prestige if you want more money: window dressing, media coverage and IPO performance. (Collecting data)
Li, Q. Who is window dressing? Evidence from IPO firms. (Collecting data)
Li, Q. Founder imprinting effect in IPO market choice: Evidence from China. (Finish preliminary analysis and in the stage of collecting more data)
Honors and Awards
2002. Excellent Student Scholarship at Renmin University of China.
2005. Excellent Student Scholarship at Tsinghua University, China.
2008-2011. Dean’s Summer Fellowship. University of Maryland, College Park, USA.
References
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