Personal webpage: sites.google.com/site/liuhn2008/

Hening Liu is Professor of Finance at Alliance Manchester Business School (AMBS) and Director of the PhD Programmes in Accounting and Finance. He joined AMBS as a Lecturer in 2008 after completing his PhD in Economics at Northern Illinois University, was promoted to Reader in Finance in 2015, and became Professor of Finance in 2017.

His research interests span theoretical and empirical asset pricing, financial econometrics, and portfolio choice. His recent work focuses on ambiguity preferences in asset pricing, structural estimation of asset pricing models, and general equilibrium models with nonstandard utility preferences.

Hening’s research has been published in leading economics and finance journals, including the Review of Financial Studies, Journal of Monetary Economics, Journal of Econometrics, Journal of Financial and Quantitative Analysis, and Management Science. He has presented his work at major international conferences such as the Western Finance Association (WFA), European Finance Association (EFA), and China International Conference in Finance (CICF).

He also serves as a regular reviewer for top journals in economics and finance, including the American Economic Review, Journal of Finance, Journal of Financial and Quantitative Analysis, Journal of Political Economy, Management Science, and the Review of Financial Studies, among others.

Asset pricing (macro-finance)

Portfolio choice and asset allocation

Teaching Experience

• Instructor, GRE and GMAT Preparation Courses, New Oriental Education, China — 2001-2002

• BMAN71111 Asset Pricing, AMBS, 2008-

• BMAN80931 Advanced Finance Theory, AMBS, 2015-

Current students

• Bo Huang
• Ke Wang
• Shaokai Ding
• Junhong Yu

PhD Finance Research Training Programme (RTP)

The first year RTP in Finance consists of the following courses:

• Advanced Finance Theory
• Empirical Corporate Finance
• Advanced Finance Research Seminar
• Advanced Corporate Finance
• Additional Research Training

Students can take an elective course from a wide range of courses in Economics and from NWSSDTP institutions. Students are also required to complete training in software and relevant databases and a pilot research paper.

Placement of Previous Accounting & Finance PhD Students (non-exhaustive):

University of Bath, University of Birmingham, University of Bristol, University of Lancaster, University of Exeter, University of Liverpool, Queen's University Belfast, University of Cardiff, University of Warwick, City University of London, Queen Mary University of London, University of Leeds, University of Newcastle, University of Arizona, University of Chicago, London Business School, Nanyang Technological University, ESSEC Business School, Nankai University, Wuhan University, University of Science and Technology of China, Fudan University, Xi’an Jiaotong-Liverpool University, University of Science and Technology Beijing, Beijing Normal University (Bay Area International Business School), Nova School of Business and Economics, Southwestern University of Finance and Economics, Jinan University, University of Chilie, University of São Paulo

Beyond academia, Hening Liu is an amateur expert in Go (Weiqi, 围棋). He values the game’s deep strategic thinking and balance between intuition and analysis, qualities that resonate with his research in asset pricing and decision-making under uncertainty.