Qi Liu

Professor Liu obtained his PhD in finance from The Wharton School of University of Pennsylvania. His research interests are corporate finance, financial markets and behavioral finance. His works have been accepted to publish by journals, such as American Economic Review, Management Science, Review of Finance, Journal of Corporate Finance, Journal of Economic Dynamics and Control, Economic Theory, Economics Letters. His coauthored paper “Inside Debt” (with Alex Edmans) has won the runner-up of “2011 Spӓngler IQAM Best Paper Prize” at Review of Finace. He has won several teaching awards from Guanghua School of Management, and 2016 Chia Tai Fellowship for Teaching Excellence from Peking University.

Research Areas

• Corporate Finance
• Executive Compensation
• Financial Markets
• Behavioral Finance

Education Background

• 2003 University of Science and Technology of China mathematics
• 2007 University of Illinois at Urbana-Champaign mathematics
• 2012 Wharton School of University of Pennsylvania finance

Career Experience

• 2017 – Associate Professor of Finance, Guanghua School of Management, Peking University
• 2012 – 2017 Assistant Professor of Finance, Guanghua School of Management, Peking University

Published Papers：

• "Premier Advisory Services for VIP Acquirers" (with Xian Sun and Hong Wu), Journal of Corporate Finance, 54, 1-25 (Lead article), 2019.
• "Contractual Managerial Incentives with Stock Price Feedback" (with Tse-Chun Lin and Bo Sun), American Economic Review, 109, 2446-2468, 2019.
• "Managerial Manipulation, Corporate Governance and Limited Market Participation" (with Bo Sun), Journal of Economic Dynamics and Control, 90, 98-117, 2018.
• "Incentive Contracting under Ambiguity Aversion" (with Lei Lu and Bo Sun), Economic Theory, 66, 929-950, 2018.
• "Short- and Long-Run Business Conditions and Expected Returns" (with Libin Tao, Weixing Wu and Jianfeng Yu), Management Science 63(12), 4137-4157, 2017.
• "Managerial Compensation under Privately-Observed Hedging and Earnings Management" (with Bo Sun), Economics Letters 137, 1-4 (Lead article), 2015.
• "Inside Debt" (with Alex Edmans), Review of Finance 15(1), 75-102, 2011.
• "Air Quality, Investor Sentiment and Stock Returns" (with Kang Chen, Jiajun Jiang and Xin Li), Journal of Management Science, 31, 145-160, 2018. (In Chinese)
• "Price Informativeness and Investment-Price Sensitivity: Evidence from a Natural Experiment of Margin" (with Kang Chen), Journal of Financial Research, 9, 126-142, 2018. (In Chinese)