Liu Yang Directory Page

Liu Yang

Liu Yang

Associate Professor | Academic Director, Master of Finance & Master of Quantitative Finance Programs

Ph.D., University of Maryland

Contact

4419 Van Munching Hall

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.

Publications

Working Papers

  • "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)

News

Smith Master of Finance Rises to No. 2 in U.S.

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…

Read News Story : Smith Master of Finance Rises to No. 2 in U.S.
Fearless Idea 28: Close the Gender Wage Gap

SMITH BRAIN TRUST — Something inequitable happens when men and women with similar jobs get laid off at the same time from the same…

Read News Story : Fearless Idea 28: Close the Gender Wage Gap
Closing the Gender Wage Gap

By Liu Yang

SMITH BRAIN TRUST -- Executive orders from the White House in 2014 rekindled a decades-long debate about gender pay…

Read News Story : Closing the Gender Wage Gap

Research

Public Firms Are Not Shortsighted and Respond More to Investment Opportunities Than Do Private Firms

Read the article : Public Firms Are Not Shortsighted and Respond More to Investment Opportunities Than Do Private Firms

Insights

New Study Shows Social Capital as Key Driver of Small Business

Read the article : New Study Shows Social Capital as Key Driver of Small Business
Do Public Firms Get a Bad Rap?

Women Leading Research 2019: Liu Yang

Read the article : Do Public Firms Get a Bad Rap?
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