Na Dai Assistant Professor Finance Department School of Business SUNY at Albany 1400 Washington Avenue Albany, NY 12222 Phone: 518-442-4962 Fax: 518-442-3045 Email: ndai@uamail.albany.edu SSRN Author Page: http://papers.ssrn.com/sol3/cf_dev/AbsByAuth.cfm?per_id=332421 Academia.edu Homepage: http://albany.academia.edu/NaDai RESEARCH AND TEACHING INTEREST Research Interest: Corporate Finance; Public and Private Offerings; Venture Capital and Private Equity; Financing of Innovations and Entrepreneurship; Hedge Fund and Regulation Teaching Interest: Corporate Finance; Entrepreneurial Finance; Venture Capital and Private Equity EDUCATION Ph.D. in Finance, 2006, University of Kansas Dissertation: Essays on Venture Capital Committee Chair: George Bittlingmayer MA in Accounting, 2001, Ren Min University of China, Beijing, China BA in Accounting, 1999, Ren Min University of China, Beijing, China (with honor) EMPLOYMENT Assistant Professor, School of Business, SUNY at Albany, 2009-Present Assistant Professor, Anderson School of Management, University of New Mexico, 2006-2009 REFERRED JOURNAL ARTICLES 2007: “Does Investor Identity Matter? An Empirical Examination of Investments by Venture Capital Funds and Hedge Funds in PIPEs,” solo author, Journal of Corporate Finance 13, 538-563. --Won the 2006 FMA Best Paper Awards—Financial Markets and Institutions 2009: “The Quality and Price of Investment Banks’ Service: Evidence from the PIPE Market,” with H. Jo and J.D. Schatzberg, Financial Management, Forthcoming. 2009: “Capital Flows and Hedge Fund Regulation,” with D. Cumming, Journal of Empirical Legal Studies, Forthcoming. 2009: “The Choice of Equity Selling Mechanisms: PIPEs versus SEOs,” with H.C. Chen and J.D. Schatzberg, Journal of Corporate Finance, Forthcoming. 2009: “A Law and Finance Analysis of Hedge Funds,” with Douglas Cumming, Financial Management, Forthcoming. 2009: “Local Bias in Venture Capital Investments,” with Douglas Cumming, Journal of Empirical Finance, Forthcoming. OTHER PUBLICATIONS 2008: “Seasoned Equity Selling Mechanisms: Costs and Innovations,” with H.C. Chen, Journal of Private Equity, Vol. 11 No. 3, 16-29. 2009: “The Rise of the PIPE Market,” Companion to Private Equity (Chapter 7), John Wiley & Sons, Inc., Forthcoming. SELECTED WORKING PAPERS “Venture Capital Ownership Type, Investment Criteria, and Venture Performance,” with Hoje Jo and Sul Kassicieh “Hedge Fund Regulation and Misreported Returns,” with Douglas Cumming “Fund Size, Limited Attention and Valuation of Venture Capital Backed Firms,” with Douglas Cumming “Why do Entrepreneurs Switch Venture Capitalists?” with Douglas Cumming “Strategic versus Financial Investors: A Contractual Perspective,” with Christopher W. Anderson CONFERENCES AND PRESENTATIONS ◊ ◊ ◊ ◊ ◊ ◊ 2009 The 22nd Australasian Finance and Banking Conference at Sydney, Australia (scheduled) o Presenting“Why Do Entrepreneurs Switch Venture Capitalists?” 2009 Financial Management Association (FMA) Annual Meeting (scheduled) o Presenting “Fund Size, Limited Attention, and Valuation of Venture Capital Backed Firms” o Presenting “Capital Flows and Hedge Fund Regulation” 2009 Journal of Corporate Finance Special Issue Conference on Corporate Finance and Governance in Emerging Markets, Beijing o Presenting “Venture Capital Ownership Type, Investment Criteria, and Venture Performance" 2009 Korean Finance Association Conference o Presenting (co-author) “The Quality and Price of Investment Banks’ Service: Evidence from the PIPE Market” 2008 EFA Meetings in Athens, Greece o Presenting “Limited Attention, Fund Size, and Private Equity Valuations”(The title of the paper has been changed to “Fund Size and Valuation”) 2008 Financial Management Association (FMA) Annual Meeting o Presenting “The Quality and Price of Investment Banks’ Service: Evidence from ◊ ◊ the PIPE Market” The 3rd Annual Conference on Empirical Legal Studies (Cornell University) o Presenting (co-author) “Capital Flows and Hedge Fund Regulation” 2008 Technology Transfer Society (T2S) Annual Conference on Entrepreneurship and Innovation Clusters o Presenting “State Incentives, Venture Capital and Entrepreneurial Development Activities” 2008 First Desert Finance Symposium, UTEP o Presenting “Fund Size and Valuation” 2008 China International Conference in Finance (sponsored by MIT Sloan School of Management and Tsinghua University) o Presenting “Local Bias in Venture Capital Investments” 2007 Financial Management Association (FMA) Annual Meeting o Presenting “Local Bias in Venture Capital Investments” 2006 Financial Management Association (FMA) Annual Meeting o Presenting “Does Investor Identity Matter? An Empirical Examination of Investments by Venture Capital Funds and Hedge Funds in PIPEs” 2006 Journal of Corporate Finance Special Issue Conference on “Private Equity, Leveraged Buyouts, and Corporate Governance” at Rensselaer Polytechnic Institute 2005 Financial Management Association (FMA) Annual Meeting 2005 Eastern Finance Association 46th Annual Meeting 2005 Midwest Finance Association 54th Annual Meeting 2005 Technology Transfer Society’s Annual Meeting on Advancing Innovation and Entrepreneurship (sponsored by Kauffman Foundation) 2008 ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ TEACHING (MOST RECENT) ◊ ◊ Entrepreneurial Finance, Spring 2009, MBA, Anderson School of Management, University of New Mexico, 4.8/5.0 Financial Management, Fall 2008, MBA, Anderson School of Management, University of New Mexico, 4.6/5.0 HONORS AND AWARDS ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ Anderson School of Management Department Most Distinguished Teacher Award, 2007 The 2006 FMA Best Paper Awards—Financial Markets and Institutions, 2006 Max E. Fessler Best Dissertation Award, School of Business, University of Kansas, 2006 Dissertation Fellowship, School of Business, University of Kansas, 2005 Summer Scholarship, School of Business, University of Kansas, 2004 Dean’s List, School of Business, University of Kansas, 2001-2005 Beijing City Outstanding Graduate Award, Beijing, China, 1999 Scholarship for Academic Excellence, Ren Min University of China, 1995-1999 Ren Min University of China Outstanding Student Award , Beijing, China, 1995-1999 PROFESSIONAL ACTIVITIES ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ ◊ Ad-hoc reviewer for the following academic journals o Journal of Banking and Finance o Journal of Corporate Finance o The Financial Review o Journal of Business Venturing Ad-hoc reviewer for the Handbook of Technology Management published by Wiley 2008 Financial Management Association (FMA) Annual meeting, member of the program committee and discussant 2007 Financial Management Association (FMA) Annual Meeting, member of the Competitive Paper Award Committee in Institutions 2006 Financial Management Association (FMA) Annual Meeting, Session Chair, Discussant 2006 Invited reviewer for Journal of Corporate Finance Special Issue Conference on “Private Equity, Leveraged Buyouts, and Corporate Governance” at Rensselaer Polytechnic Institute 2006 Invited reviewer for the Lally-Darden-Humboldt Entrepreneurship Retreat, Germany 2005 Financial Management Association (FMA) Annual Meeting, Discussant 2004 Midwest Finance Association, Discussant Member of o Financial Management Association o American Finance Association o European Finance Association