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Dr. Yi "Ian" Liu

Associate Professor

University of North Texas

Department of Finance, Insurance, Real Estate and Law

(940) 369-7197

Email: Ian.Liu@unt.edu

Education

  • PhD, Drexel University, 2003
    Major: Business Administration
    Specialization: Finance
  • MBA, Drexel University, 2002
    Major: Business Administration
    Specialization: Investment Management
  • BA, Southwest University of Finance and Economics (China), 1995
    Major: Finance

Professional Positions

    Academic - Post-Secondary

  • Associate Professor of Finance, University of North Texas. University of North Texas. (2014 - Present).
  • Assistant Professor of Finance, UNIVERSITY OF NORTH TEXAS. UNIVERSITY OF NORTH TEXAS. (2008 - 2014).
  • Assistant Professor of Finance, CAPITAL UNIVERSITY. CAPITAL UNIVERSITY. (2003 - 2008).

    • Professional

  • Financial Analyst, People's Bank of China, GuangZhou Branch. People's Bank of China, GuangZhou Branch. (1995 - 1999).

Licensures and Certifications

  • Charter Financial Analyst (CFA®), CFA Institute. (2006 - Present).

Professional Memberships

  • Financial Management Association. (2013 - Present).
  • Multinational Finance Society. (2009 - Present).
  • CFA Institute. (2006 - Present).

Teaching

Teaching Experience

    University of North Texas

  • FINA 3770 - Finance, 23 courses.
  • FINA 4200 - Investments, 20 courses.
  • FINA 4650 - Special Topics in Finance, 1 course.
  • FINA 5170 - Financial Management, 11 courses.
  • FINA 5210 - Investment Analysis and Management, 8 courses.
  • FINA 5230 - Portfolio Management and Security Analysis in Investments, 2 courses.
  • FINA 5650 - Contemporary Issues in Finance, 1 course.
  • FINA 6014 - Seminar in Investments, Modern Portfolio Theory, and Capital Markets Research, 7 courses.
  • FINA 6900 - Special Problems, 4 courses.
  • FINA 6940 - Individual Research, 11 courses.
  • FINA 6950 - Doctoral Dissertation, 16 courses.

Teaching at Other Institutions

  • Southwest University of Finance and Economics, Investment, Summer 2019.
  • Southwest University of Finance and Economics, Investment, Summer 2018.
  • Southwest University of Finance and Economics, Investment, 2017.

Non-Credit Instruction

  • Other (Other Teaching Activities), (2014 - 2022).

Directed Student Learning

  • Dissertation Committee Chair, "The Real Equity Premium Puzzle," Finance, Insurance, Real Estate and Law. (December 15, 2021).
  • Dissertation Committee Co-Chair, "Essays on Investment," Finance, Insurance, Real Estate and Law. (December 1, 2021).
  • Dissertation Committee Chair, "Essays on Short Sale," Finance, Insurance, Real Estate and Law. (May 1, 2021).
  • Dissertation Committee Chair, "The profitability puzzle of cross-sectional stock returns," Finance, Insurance, Real Estate and Law. (December 1, 2020).
  • Dissertation Committee Member, "industry momentum and market state," Finance, Insurance, Real Estate and Law. (September 2014).
  • Dissertation Committee Co-Chair, "The Small size puzzle and acquisition premium," Finance, Insurance, Real Estate and Law. (December 15, 2020 - July 15, 2022).
  • Dissertation Committee Member, "Determinants of portfolio manager ownership," Finance, Insurance, Real Estate and Law. (September 1, 2019 - March 21, 2022).
  • Dissertation Committee Member, "Impacts of Enterprise Risk Management (ERM) on firm performance," Finance, Insurance, Real Estate and Law. (December 1, 2018 - 2021).
  • Dissertation Committee Chair, "Analysts forecast, implied cost of capital and value premium puzzle," Finance, Insurance, Real Estate and Law. (September 1, 2018 - July 6, 2020).
  • Dissertation Committee Chair, "Penny stock, risk and return," Finance, Insurance, Real Estate and Law. (September 1, 2018 - May 22, 2020).
  • Dissertation Committee Chair, "Impact of Market State on Momentum Portfolio Risk and Performance: A Risk-based Explanation," Finance, Insurance, Real Estate and Law. (September 2016 - October 25, 2019).
  • Dissertation Committee Member, "Relationship between Lines of Credit and firm value," Finance, Insurance, Real Estate and Law. (December 1, 2018 - August 30, 2019).
  • Dissertation Committee Member, "An Investigation of the Value of Bank Capital in the Context of Mergers and Acquisitions in the Banking Industry," Finance, Insurance, Real Estate and Law. (September 1, 2016 - June 1, 2018).
  • Dissertation Committee Co-Chair, "Is 100 Percent Debt Optimal? A Study of Aggressive Capital Structure and Myth of Negative Book Equity Firms," Finance, Insurance, Real Estate and Law. (September 2013 - April 2016).
  • Dissertation Committee Member, Finance, Insurance, Real Estate and Law. (September 2013 - May 2015).
  • Dissertation Committee Member, Finance, Insurance, Real Estate and Law. (January 2013 - December 2014).
  • Dissertation Committee Member, "the impact of Fed Funds rate on equity valuation," Finance, Insurance, Real Estate and Law. (January 2012 - April 2013).

Awards and Honors

  • 2019 Summer Research Grant Award, G. Brint Ryan College of Business, UNT. (May 17, 2019).

Research

Published Intellectual Contributions

    Book Chapter

  • Liu, Y. (2011). Efficiency Market Hypothesis. Finance volume, Series on the Frontiers of Western Research in the Humanities and Social Sciences. Renmin University Publications.

    • Journal Article

  • Liu, Y. (2021). A study on firms with negative book value of equity. International Review of Finance. 21 145-182.
  • Liu, H., Liu, I., Tripathy, N. (2019). A study on firms with negative book value of equity. Other.
  • Liu, Y. (2019). Does Board Gender Diversity Increase Dividend Payouts?: Analysis of Global Evidence. Journal of Corporate Finance. 58 1-26.
  • Zhang, H., Huang, Y., Thill, J., Guo, D., Liu, Y. (2018). Guest editorial: special issue on spatial computing in emergency management. GeoInformatica. 22 (2) 307--309. Springer US.
  • Brice, D., Samimi, P., Ghamarian, I., Liu, Y., Mendoza, M., Kenney, M., Reidy, R.F., Garcia-Avila, M., Collins, P. (2017). On the eutectoid transformation behavior of the Ti-Zn system and its metastable phases. Journal of Alloys and Compounds. 718 22 - 27. http://www.sciencedirect.com/science/article/pii/S092583881731695X
  • Liu, Y., Mantecon, T. (2017). Is Sustainable Competitive Advantage an Advantage for Stock Investors?. Quarterly Review of Economics and Finance. 63 299-314.
  • Liu, Y., Peabody, D. (2015). Do the Stars Align? An Evaluation of the Efficacy of Independent Analysts’ Equity Ratings. Journal of Applied Finance. 25 (2) 57-74.
  • Liu, Y., Chazi, A., Khallaf, A., Zantout, Z. (2014). Technology Transaction, Momentum, Announcement Effect and Reversal: Dissecting an Anomaly. Quarterly Review of Economics and Finance.
  • Tang, Z., Liu, Y., Lu, Y., Yang, D. (2012). Does Asset Injections by Large Shareholders improve firm performance?. Journal of Chinese Entrepreneurship. 4 (3) 263-283.
  • Mantecon, T., Liu, I., Gao, F. (2012). Empirical evidence of the value of monitoring in joint ownership. Journal of Banking and Finance. 36 1045-1056.
  • Liu, Y., Mantecon, T., Szewczyk, S. (2011). Do Financial Analysts' Opinions Matter. International Journal of Banking, Accounting and Finance. 3 118-132.
  • Liu, Y., Chou, D., Zantout, Z. (2009). Long-Term Stock Performance Following Extraoardinary and Special Cash Dividends. Quarterly Review of Economics and Finance. 49 54-73.
  • Liu, Y., Szewczyk, S.H., Zantout, Z. (2008). Under-reaction to Dividend Reductions and Omissions?. Journal of Finance. 63 987-1020.
  • Liu, Y., O'Reilly-Allen, M., Zantout, Z. (2007). The Welfare Effects of the National Cooperative Research Act (NCRA) of 1984 and the National Cooperative Production Act (NCPA) of 1993. American Journal of Economics and Sociology. 66 985-1004.

Presentations Given

  • Liu, Y., Is Competitive Advantage an Advantage for Stock Investors, Eastern Finance Association, Pittsburg, United States of America, (2014).
  • Liu, Y., Mantecon, T., Is Competitive Advantage an Advantage for Stock Investors?, Multinational Financial Society, Prague, Czech Republic, (2014).
  • Liu, Y., Is Competitive Advantage an Advantage for Stock Investors?, Midwest Finance Association, Chicago, United States of America, (2013).
  • Liu, Y., Mantecon, T., Is There Value in Growth?, Multinational Financial Society, Rome, Italy, (2011).
  • Liu, Y., Szewczyk, S., Zantout, Z., The Information Content of Dividend Changes: Shareholders' Wealth, Revision of Earnings' Forecasts, Multinational Financial Society, Barcelona, Spain, (2010).
  • Liu, Y., Long-Term Stock Performance Following Extraoardinary and Special Cash Dividends, Financial Management Association Annual Meeting, Stockholm, Sweden, (2006).
  • Liu, Y., Under-reaction to Dividend Reductions and Omissions?, Asian Financial Association Annual Conference, KL, Malaysia, (2005).
  • Liu, Y., The Post-Announcemet Long-Term Stock Price Performance of Dividend Reducing or Omitting Firms: Under-Reaction or Chance?, Financial Management Association Annual Meeting, Denver, Colorado, (2003).
  • Liu, Y., An Examination of the Long-Run Market Reaction to Dividend Omissions and Reductions, Eastern Finance Association, Laek Buena Vista, Florida, (2003).

    • Oral Presentation

  • Liu, Y. (Author), 2016 China Meeting of the Econometric Society, Is 100 percent debt optimal? Revisiting the capital structure puzzle, the Econometric Society, ChengDu, China. (2016).
  • Liu, Y. (Author), 2015 Annual Conference of Financial Management Association, Is Competitive Advantage an Advantage for Stock Investors, Financial Management Association, Orlando, United States of America. (2015).

    • Paper

  • Liu, Y. (Author & Presenter), World Finance Conference, Impact of Market State on Momentum Portfolio Risk and Performance: A Risk-based Explanation., Turin, Italy, Italy. (2022 - 2022).
  • Liu, Y. (Author & Presenter), Asia-Pacific Conference on Economics & Finance, Impact of Market State on Momentum Portfolio Risk and Performance: A Risk-based Explanation., Singapore, Singapore. (2019 - 2019).
  • Liu, Y. (Author), The 30th Asian Finance Association Annual Meeting, Is 100 Percent Debt Optimal? A Study of the Aggressive Capital Structure and Myth of Negative Book Equity Firms, Asian Finance Associatio, Tokyo, Japan, Japan. (2018 - 2018).
  • Liu, Y. (Author), 2017 Multinational Finance Society Annual Meeting, Is 100 percent debt optimal? A study of aggressive capital structure and myth of negative book equity firms, Multinational Finance Society, Bucharest, Romania, Romania. (2017 - 2017).
  • Liu, Y. (Author), China Meeting of the Econometric Society, Is 100 percent debt optimal? A study of aggressive capital structure and myth of negative book equity firms, Econometric Society, WuHa, China, China. (2017 - 2017).

Service

University Service

  • Member, RCoB Doctoral Program Committee. (September 2020 - Present).
  • Member, Faculty Search Committee. (September 2017 - Present).
  • Program Coordinator, Finance PhD Program Committee. (September 2017 - Present).
  • Faculty Advisor, UNT Chinese Student and Scholar Association (CSSA). (2015 - Present).
  • Member, Faculty Advisory Council forﾠﾠﾠUNT Student Investment Group (SIG). (2013 - Present).
  • Faculty Advisor, Faculty Advisor for Ascend-Pan Asian Professional Leaders, UNT Student Chapter. (2011 - Present).
  • Committee Member (Other Institutional Service Activities), CFA student Scholarship. (2008 - Present).
  • Member, Library Liaison. (September 2017 - 2019).
  • Faculty Advisor, CFA Investment Research Challenge. (2011 - 2019).
  • Faculty Advisor, Faculty Advisor for UNT Student Investment Group. (September 2015 - September 2019).
  • Member, Journal Committee. (2017 - 2017).
  • Member, Finance Doctoral Program Committee. (2011 - 2017).
  • Personal Affairs Committee. (2012 - 2013).
  • Professional Leadership Program, FIREL Liaison. (2011 - 2013).
  • Assessment Committee. (2011 - 2012).
  • Faculty Advisory Council forﾠﾠﾠUNT Student Investment Group (SIG). (2009 - 2011).
  • Texas Investment Portfolio Symposium-Competition of Student Managed Funds. (2010 - 2010).
  • New UNT Students Mentoring Program. (2009 - 2009).
  • UNT Chinese Student and Scholar Association (CSSA) faculty advisor. (2009 - 2009).

Public Service

  • Chairperson, North Texas Chiense Faculty Association. (January 2017 - 2018).

Professional Service

  • Reviewer, Journal Article, American Business Review. (2021 - Present).
  • Reviewer, Journal Article, International Journal of Bank Marketing. (2021 - Present).
  • Reviewer, Journal Article, International Review of Economics and Finance. (2019 - Present).
  • Reviewer, Journal Article, MULTINATIONAL FINANCE JOURNAL. (2017 - Present).
  • Reviewer, Journal Article, Review of Accounting and Finance. (2017 - Present).
  • Member, Financial Management Association. (2009 - Present).
  • Member, Chartered Financial Analysts Association. (2005 - Present).