Faculty

Research Fields

Empirical Corporate Finance, Corporate Governance, Board Diversity, CEO Characteristics, Financial Stability, Dynamic Modeling in Corporate Finance, Interactions between Investment and Financing Decisions, Finance and Labor

Education

Ph.D. in Finance, Lancaster University, UK, 2014.9-2019.3

M.Sc. in Finance, Imperial College London, UK, 2012.9-2013.9

B.A. in Financial Management, Sun Yat-sen University, China, 2008.7-2012.7

Academic Appointments

Kühne Logistics University, Hamburg, Germany, Assistant Professor of Finance, 2021.9-2025.10

Auckland University of Technology, Auckland, New Zealand, Research Fellow of Finance, 2020.2-2021.8

Lancaster University, Lancaster, UK, Fixed-term Lecturer of Finance, 2019.6-2020.1

Publications

Liao, S., Nguyen, N.H., and Truong, C. (2025). CEO's Early-life Experience of Disasters and Corporate Environmental Performance. Abacus. DOI: https://doi.org/10.1111/abac.12358.

Frijn, B., Garel, A. and Liao, S. (2024). Employee demographic diversity and firm performance. Financial Management. DOI: https://doi.org/10.1111/fima.12484.

Dodd, O. and Liao, S. (2024). The role of inventory in firm resilience to the Covid-19 pandemic. European Financial Management. DOI: https://doi.org/10.1111/eufm.12517.

Liao, S., Nguyen, N. H., and Truong, C. (2024). Does CEO extraversion pay off when in need? Evidence from the global financial crisis. The British Accounting Review, 56(4), 101234. DOI: https://doi.org/10.1016/j.bar.2023.101234.

Dodd, O., Frijns, B., Gong, R. K., and Liao, S. (2023). Board cultural diversity and firm performance under competitive pressures. The Financial Review, 00, 1–23. DOI: https://doi.org/10.1111/fire.12365.

Liao, S., Nolte, I., and Pawlina, G. (2023). Can Capital Adjustment Costs Explain the Decline in Investment-Cash Flow Sensitivity? Journal of Financial and Quantitative Analysis. DOI: https://doi.org/10.1017/S0022109023000418.

Liao, S. (2023). The Russia-Ukraine Outbreak and the Value of Renewable Energy. Economics Letters. DOI: https://doi.org/10.1016/j.econlet.2023.111045.

Hegde, P., Liao, S., Ma, R., and Nguyen, N. H. (2022).CEO Marital Status and Insider Trading. British Journal of Management. DOI: https://doi.org/10.1111/1467-8551.12673.

Liao, S. and Errico, M. (2022). Corporate investment and stock market valuation. Journal of Business Finance and Accounting. DOI: https://doi.org/10.1111/jbfa.12649.

Kim, J.B., Liao, S., and Liu, Y. (2021). Married CEOs and Stock Price Crash Risk. European Financial Management. DOI: https://doi.org/10.1111/eufm.12343.

Liao, S. (2021). The effect of credit shocks in the context of labor market frictions. Journal of Banking and Finance, 125, 106091. DOI: https://doi.org/10.1016/j.jbankfin.2021.106091.