Hu Zhiqiang Professor Department of Finance Email: huzq126@126.com Phone : 13986096950 PhD Finance, Wuhan University, China (2000-2004) MSc Economics, Wuhan University, China (1989-1992) B.A. Engineering, Huazhong University of Science and Technology, China (1979-1984) Curriculum Vitae

TEACHING AND RESEARCH AREAS

Ÿ TeachingFocusing (Program and credit hour) :FixedIncomeSecurities (master, 36; PhD, 18)

Ÿ Research Areas :Asset Pricing and IPO Theory, Financial Engineering and Fixed Income Securities

ACADEMIC EXPERIENCE

Ÿ DoctoralTutor in Finance and Financial Engineering,Wuhan University,June 2007- present

Ÿ Professor of Finance and Insurance Actuarial Science, Wuhan University,December 2006- June 2009

Ÿ Assistant Professor of Finance and Insurance Actuarial Science, Wuhan University,June 1999-December 2006

Ÿ Teaching atInternational Investment Department of School of Management, Wuhan University,July 1992 - June1999

MANAGERAL AND PRACTICAL EXPERIENCE

Ÿ Evaluation ofPE Projects, Shanghai Borun Investment Co., Ltd.,June 2010

Ÿ Risk Assessment of Foreign-invested Projects, The Finance Department of People's Government of Hubei Province, December 2009

Ÿ IndependentDirector,Shanghai Borun Investment Co., Ltd., March 2008

Ÿ Engineer,Wuhan Heavy-duty Tool Group Co., Ltd., 1984-1989

CONSULTING AND TRAINING EXPERIENCE (GOVERNMENT OR CORPORATE)

Ÿ The Certification of PE Investment Projects and the Preliminary Investigation and Valuation of IPO,Shanghai Borun Investment Co., Ltd., December 2008-July 2010

Ÿ The Qualification Training and Certification ofNationalIndependentDirector, Shanghai LixinUniversity ofAccounting, August 2008

SELECTED PUBLICATIONS

Journal Papers (International)

Ÿ Hu Zhiqiang,Gao Gengzi, “Study on Chinese IPO inquiry mechanism and the pricing efficiency”, BioTechnology: An Indian Journal, Vol.10 ,2014, pp.6814-6824

Ÿ Liu Yang, Hu Zhiqiang, Weiye Zhou, Cengmin Qiu, “Optimal IPO timing—based on China A-share market empirical research”, Pakistan Journal of Statistics, Vol. 29, 2013, pp.827-842

Ÿ Hu Zhiqiang, Wang Yizhu, “The IPO cycles in China’s A-share IPO market: Detection based on a three regimes Markov Switching Model”, Romanian Journal of Economic Forecasting, Vol. 16, 2013, pp. 115-131

Ÿ Liu Yang, Hu Zhiqiang, “Monte Carlo method for high-tech enterprise IPO market timing: empirical study based on American real option approach”,International Journal of Applied Mathematics and Statistics, Vol. 44, 2013, pp. 96-103

Ÿ Hu Zhiqiang, Wang Fan, Li Qian, “An empirical study on VC incubation period ,IPO market timing and post-IPO performance based on the Chinese market”, International Journal of Digital Content Technology and its Applications, Vol. 6, 2012, pp. 212-221

Journal Papers (Domestic)

Ÿ Hu Zhiqiang, Zhu Wenda and Wang Yizhu, “IPO Industry Competition Effect-Empirical Research on Competition Game Model Based on the Product Market”,Forecasting, No.4, pp.43-49, 2017

Ÿ Hu Zhiqiang, Cheng Liyuan and Hu Yuan, “An Empirical Research on Inquiry Institutions' Bidding Behavior under Book-building System Reform by Dynamic Game Model”,Wuhan University Journal(Philosophy & Social Science), No.5, pp.96-101, 2017

Ÿ Hu Zhiqiang and Yu Yawen, “Research on Impact of Technological Innovation Efficiency on Long-run Post-IPO Performance: Empirical Study Based on Samples of GEM High-tech Firms”,Journal of Beijing Technology and Business University(Social Sciences), No.5, pp.87-96, 2017

Ÿ Hu Zhiqiang, Zhao Guiyu and Guo Xiaolin, “Empirical Research of Conditional Factor Pricing Model”, Systems Engineering-Theory & Practice, No.11, pp.2820-2828, 2016

Ÿ Hu Zhiqiang, Zhao Guiyu, Shao Cong and Li Chunmeng, “Research on the Competitive Effect of IPO Based on the Enterprises in A Share Market”,Price: Theory & Practice, No.8, pp.117-120, 2016

Ÿ Hu Zhiqiang and Zhao Meijuan, “Study on the IPO System and Under-pricing under Multivariate Skewed Student’s t Copula Model”,Economic Review, No.3, pp.148-160, 2016

Ÿ Hu Zhiqiang and Di Chenchen, “Government Regulation, Enterprise Innovation and IPO Timing”,Technology Economics, No.3, pp.53-60, 2016

Ÿ Hu Zhiqiang and Ma Wenbo, “Why Will The Post-IPO Performance of Listed Companies Drop?”,Commercial Research, No.1, pp.63-76,2016

Ÿ Hu Zhiqiang and Gao Gengzi, “Research on IPO Under-pricing Based on GMM Estimation Method”,Statistics & Decision, No.5, pp.160-163, 2015

Ÿ Hu Zhiqiang and Wang Yizhu, “The Detection of A-share IPO Market Cycles Based on the Three Regimes Markov Switching Model”,Statistical Research, No.5, pp.76-82, 2013

Ÿ Hu Zhiqiang, Chen Yujun and Wang Yizhu, “Do IPO Cycles Impact the Quality of Listed Companies?”,Economic Review, No.4, pp.124-134, 2013

Ÿ Hu Zhiqiang and Wang Fan, “A Review of the Research on the Quality Fluctuation of Listed Companies in the IPO Cycle”, Productivity Research, No.9, pp.186-188, 2013

Ÿ Liu Yang and Hu Zhiqiang, “Optimum Time-to-market Analysis Based on Corporate Quality”,Seeker, No.11, pp.25-27, 2013

Cases and Practical Papers

Ÿ None

Conference Papers (International)

Ÿ Hu Zhiqiang, Lin Xiong, Gong Chenchen,“High-tech enterprise IPO market timing: Empirical study based on American real”,International Conference on Services Science

Textbooks

Ÿ Hu Zhiqiang (Editor-in-chief), Management Economics(revised edition), Wuhan University Press, 2005

Ÿ Hu Zhiqiang (Participant), Introduction to Venture Capital, China Civil Construction Press, 2000

Ÿ Hu Zhiqiang (Speaker), Entering MBA - Management Economics, Wuhan University Audio and Video Press, 2000

Ÿ Hu Zhiqiang (Participant), International Investment and Financing, Wuhan University Press, 1999

Monography

Ÿ Hu Zhiqiang,PriceBehavior,MarketTiming and IPOWave ofInitialPublicOfferings in China: Theory andEvidence, Wuhan UniversityPress, 2011

Ÿ Hu Zhiqiang,WelfareEconomicsAnalysis of the FinancialSystem, Wuhan UniversityPress, 2005

Others

Ÿ Hu Zhiqiang (Translation),Transactions like Buffett,MechanicalIndustryPress, 2006

RESEARCHGRANTS

Government-fundedgrants

Ÿ AResearch ontheMechanism of IPODecision-makingBased onStochasticDifferentialGame underMulti-agentInteraction,￥620000, 2015-2018, Ref. 71471142

Ÿ AResearch onthe Impact of the Debt Crisis in Europe and the United States on China and the Countermeasures,￥50,000, 2013-2015,Ref. 12JZD029

Ÿ An Excellent Course Project of the Master ofManagementEconomics(Wuhan University), 2013-2014

Ÿ AResearch on the Mechanism of IPOTimingand IPOWavesBased on the Theory of American Option,￥280000, 2011-2013,Ref. 71071121

Ÿ AResearch onthe Optimal Market Opportunity and IPO Cluster Effect Based onthe Theory ofAmerican Option,￥30000, 2009-2012,Ref. 09ZZKY003

Ÿ AResearch on thePriceBehavior andReform ofIssuanceSystem ofInitial publicOffering in China,￥50000, 2007-2009,Ref. 06JA790086

Ÿ AResearch ontheInfluence ofOverseas RMBDerivativesMarket on thePricingPower of RMBExchangeRate, 2005-2007,Ref.705410045

Ÿ AResearch ontheOperational Mode and Pricing Mechanism of Catastrophe Risk Bonds, 2004-2007,Ref. 70403013

Ÿ AResearch on Information Experimental Teaching Reform of Fixed Income Securities, 2005

Ÿ AResearch on the Financial Development of Developing Countries and Transition Countries: Financial Intermediary Research, 2005

Ÿ Disposal of Bad Assets of Banks and Enterprises under Open Conditions, 2002

Ÿ AnEmpiricalResearch on theInteraction betweenHighTechnology and Finance, 2002

Corporate-fundedgrants

Ÿ AResearch on Financial Asset Pricing and Risk Management,￥50,000, 2008-2009

International collaborativegrants

Ÿ None

AWARDS AND HONORS

Ÿ Outstanding Doctoral Dissertation of Hubei Province (Guiding Teacher), Academic Degree Committee of Hubei Provincial People's Government, Department of Education of Hubei Province, 2017

Ÿ Third Prize for Outstanding Papers, Annual Meeting of China Quantitative Economics, 2009

Ÿ Second Prize of the 2001 Financial Major Research Project of the People's Bank of China Wuhan Branch, Wuhan Branch of the People's Bank of China, 2001

Ÿ The Excellence Award of the 2002 Financial Major Research Project of the People's Bank of China Wuhan Branch, Wuhan Branch of the People's Bank of China, 2002

Ÿ Third Prize for Outstanding Audiovisual Products, Ministry of Education, Press and Publication Administration, 2000

EDITORIAL BOARDS

Ÿ None

MEMBERSHIPS, CERTIFICATIONS

Ÿ Member ofChinese Association of Quantitative Economics

Ÿ Director of ChineseAssociation ofFinancial Engineering

INVITED SPEECH ANDMEDIA COVERAGE

Ÿ The Causes and Effects of Subprime Mortgage Crisis in the United States, Communications Department of Hubei Province, May 2009

Ÿ The Causes and Effects of Subprime Mortgage Crisis in the United States, Guangxi University of Finance and Economics, December 2008