Xiaozheng Sandra Wang
Vice President

Dr. Sandra Wang is a financial economist with a broad knowledge in mathematics and statistics, including probability theory, econometrics, and time series modeling. Dr. Wang was born and raised in Beijing, and attended Tsinghua University, China’s premier scientific institute. Her expertise in economic globalization and emerging markets gives her a unique advantage as Criterion builds its East Asian practice.

Dr. Wang has taught finance and economics at Columbia University as well as presented on numerous economics topics for companies and professional associations.  

Representative projects and research include:

• An economic analysis of materiality in response to a Wells letter from the Securities and Exchange Commission in an investigation of alleged insider trading by the CEO of a Fortune 500 corporation in violation of Rule 10b-5
• Investigated home bias puzzle of international asset allocation by examining a large number of home bias and foreign investment determinants using panel data and novel bias measures
• Constructed international market integration measures using industrial level data in various countries; studied the effect of globalization on asset prices based on these measures
• Constructed various fund flow measures; calculated the sensitivity of current flows to past excess returns for equity, bond, and balanced funds in CRSP database; studied the link between fund flow sensitivity, performance, and monitoring role of funds’ boards of trustees and directors
• Developed international assets allocation strategies involving developed and emerging markets using macroeconomic variables, country risks, and market aggregate measures
• Built dynamic default risk model for the valuation of Commercial Mortgage-Backed Securities (CMBS) based on improved proportional hazard models; found a set of fundamental impacting factors of commercial mortgage credit risks and loss severity including property level variables, loan level variables, and macro economics variables

Before joining Criterion, Dr. Wang worked at Credit Suisse Securities, where she designed first generation commercial mortgage default models and built commercial property rent models. She also served as a financial consultant to DaimlerChrysler in Beijing, where she evaluated the financial performance of Chinese auto dealers.