Liu Yang Directory Page
Associate Professor | Academic Director, Master of Finance & Master of Quantitative Finance Programs
Ph.D., University of Maryland
Liu Yang is an Associate Professor in Finance (with tenure) at the Smith School of Business of the University of Maryland. She is also the founding Executive Director of the Federal Statistical Research Data Center at the University of Maryland.
Dr. Yang's primary research interest is in the area of corporate finance including mergers and acquisitions, investments, corporate governance, and labor and finance. Dr. Yang’s work has been published in all three leading academic journals in finance including the Journal of Finance, the Journal of Financial Economics, and the Review of Financial Studies.
Before joining the Smith School, Dr. Yang was on the faculty at UCLA's Anderson School of Management. She received her Ph.D. in Finance from the University of Maryland, her M.S. (in both Economics and Statistics) from the University of Illinois and her B.A. from Peking University. Prior to earning her doctorate, Liu Yang worked as a Senior Financial Analyst in the Structured Finance group in Federal Home Loan Mortgage Corporation in McLean, VA.
- "The Real Determinants of Asset Sales", Journal of Finance, Volume 63 Issue 5, 2008, 2231 - 2262
- “Pay for Performance? CEO Compensation and Acquirer Returns in BHCs” (with K. Minnick and H. Unal), Review of Financial Studies, Volume 24 Issue 2 February 2011, 439 – 472
- “Private and Public Merger Waves” (with V. Maksimovic and G. Phillips), Journal of Finance, Volume 68 Issue 5, 2013, 2177-2217
- “Female Leadership and Gender Equity - Evidence from Plant Closure” (with G. Tate), Journal of Financial Economics, Volume 117 Issue 1, 2015, 77-97
- "The Bright Side of Diversification - Evidence from Internal Labor Markets” (with G. Tate), Review of Financial Studies, Volume 28 Issue 28, 2015, 2201-2015
- "The Human Factor in Acquisitions: Cross-industry Labor Mobility and Corporate Diversification(link is external)" (with G. Tate)
- "Do Public Firms Respond Investment Opportunities More than Private Firms? The Impact of Initial Firm Quality(link is external) " (with V. Maksimovic and G. Phillips)
- "Correcting Market Failures in Entrepreneurial Finance" (with F. D'Acunto and G. Tate)
- "Entrepreneurial Teams: Diversity of Experience and Early-Stage Growth(link is external)" (with F. D'Acunto and G. Tate)
- "Reshaping the Local Marketplace: Financing, Independent Businesses, Large Firms, and COVID(link is external)" (with V. Maksimovic)
The Master of Finance program at the University of Maryland’s Robert H. Smith School of Business climbed to No. 2 in the United States…
SMITH BRAIN TRUST — Something inequitable happens when men and women with similar jobs get laid off at the same time from the same…
By Liu Yang
SMITH BRAIN TRUST -- Executive orders from the White House in 2014 rekindled a decades-long debate about gender pay…
Women Leading Research 2019: Liu Yang