SMITH BRAIN TRUST – Pressure to deliver quarterly returns can drive managerial myopia. Recent studies link the short-termism with significant investment distortion on Wall Street, powerful enough to induce public firms to invest less in industry growth opportunities than private firms. But a deeper analysis tells a different story.
Liu 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.
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 in a Financial Times report published on June 18, 2018.
Women Leading Research: Liu Yang
Maryland Law Seeks to Close Gender Wage Gap
Something inequitable happens when men and women with similar jobs get laid off at the same time from the same companies, and then move to the same new employer. The gender wage gap — whatever it was before — widens during the transition. Only one factor helps to soften the outcome. A study co-authored by Smith School professor Liu Yang shows that when women workers get rehired by women managers, the wage disparity is cut in half. Read more...
By Liu Yang
Executive orders from the White House in 2014 rekindled a decades-long debate about gender pay disparities that persist in corporate America. Some blame the gap on lingering workplace biases that protect the C suite as the domain of men. Others dismiss the problem as overstated, citing the choices that women often make to sacrifice career advancement in favor of family. Read more...
Career setbacks hit U.S. women harder than men, but a new study from the Smith School provides clues for closing the gender pay gaps that persist in corporate America.
Effect Reduced at Firms Where a Majority of Senior Leaders Are Women
COLLEGE PARK, Md. — Women wage earners suffer more than men when they leave similar jobs at the same company and relocate to the same new employer following layoffs, a first-of-its-kind study from the University of Maryland’s Robert H. Smith School of Business shows. The gender pay gap widens during the transition regardless of age, race, education or seniority, although the effects are less pronounced at firms where a majority of senior leaders are women.
Research by Liu Yang
Female corporate leadership can neutralize the gender wage disparity
Firms can take advantage of capable women leaders and position them to nurture a culture of gender equity and subsequent broader base of incentivized workers that feel treated fairly
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.