Yu-Jane Liu

Yu-Jane Liu is a tenured Professor of Finance at the Guanghua School of Management, Peking University. At Peking University, she also serves as the director of the Research Center of Finance and Development at PKU and the Cross-Strait Communication Fund and once served as the director of the Finance Department and of the Master of Finance Program. Prior to joining Guanghua school of Management, she served as the professor and the director of the Finance Department at Chengchi University in Taiwan.

Her expertise includes behavioral finance, market microstructure, wealth management and Financial technology in algorithm investment. She has published more than 30 papers in international journals such as Journal of Financial Economics, Review of Financial Studies, Management Science, Journal of Financial and Quantitative Analysis, Review of Asset Pricing Studies, Journal of Corporate Finance, Journal of Financial Markets, and Journal of Banking and Finance. Her paper “Just How Much do Individual Investors Lose by Trading”, published in Review of Financial Studies in 2009, has received more than 800 citations and was highlighted by Nobel laureate Daniel Kahneman in The Economist for its far-reaching influence. Many of her papers have won research awards, including the Yefang Sun Finance Innovation Award, the outstanding papers in the 27th Conference on the Theories and Practices of Securities and Financial Markets, in the Chinese Finance Association’s 25th Annual Conference, and in the 6th Chinese Finance Annual Conference. She has won personal awards including China Finance Research Award in 2016, outstanding alumni at Chengchi University, and ICBC Teaching Award at Peking University.

She has presented papers and participated in discussions at many seminars and national and international conferences. She also served in the committee of conferences including European Financial Management Association, Chinese Finance Annual Conference, China International Conference in Finance, and Chinese Finance Research Conference. She has been the referees for leading international journals such as Journal of Finance, Management Science, Review of Financial Studies, Journal of Financial and Quantitative Analysis and many national journals.

Her research on behavioral finance and market microstructure has profound impact on policy making. She has been providing advice to many financial institutions and financial regulators such as China Securities Regulatory Commission, China Banking Regulatory Commission, Shanghai Stock Exchange, Shenzhen Stock Exchange, China Financial Futures Exchange, Taiwan Financial Supervisory Commission, Taiwan Stock Exchange Corporation, and Taiwan Futures Exchanges. She has extensively weighed in on, for example, the policy of call auction trading and the guidance for listed firm dividend policy in the Shanghai Stock Exchange, the regulation of high-frequency trading in China Financial Futures Exchange, and the policy for retail investor education and investment protection in China Securities Regulatory Commission.

Research Areas

• Behavioral Finance
• Market Microstructure
• Household Finance
• Investment

Education Background

• 1991 National Sun Yat-sen University, Taiwan Finance
• 1988 National Sun Yat-sen University, Taiwan Management
  
• 1985 National Chengchi University, Taiwan Management
  

Career Experience

• 2007―present Professor of Finance, Guanghua School of Management
• 1998―2007 Professor of Finance, Cheng-chi University, Depatment Chair
• 1996―1998 Professor of Finance, Chung Cheng University, Department Chair
• 1991―1996 Associate Professor of Finance, Chung-Cheng University