Dr. Alice Liang Xu is a Senior Lecturer (Associate Professor) in Accounting at the Alliance Manchester Business School, University of Manchester. Since joining the faculty in September 2014, Dr. Xu has contributed significantly to both teaching and research. She completed her PhD at University College Dublin, Ireland, where she also received her Master of Accounting. Her undergraduate studies were completed at Shenzhen University, China, with a major in Accounting.

Her research intersects several critical areas of financial accounting and corporate finance, focusing on debt contract terms, debt covenants, information environment, ESG, environmental risk and environmental disclosures, and corporate culture, among other topics. Her works have been published in prominent journals such as Contemporary Accounting Research and the Journal of Corporate Finance.

Dr. Xu’s research delves into critical areas of financial accounting and corporate finance, with a particular emphasis on:

Debt Contracting: Examining the nuances of bond and syndicated loan agreements to understand the complex dynamics between debt holders and corporate borrowers.

Debt Covenants: Exploring the role and impact of covenants in mitigating agency problems and enhancing the contractual environment between creditors and firms.

Information Environment: Investigating how the transparency and quality of information affect market perceptions and corporate policy.

Environmental, Social, and Governance (ESG): Focusing on how ESG factors are integrated into corporate strategies and reporting.

Environmental Risk and Disclosure: Analyzing corporate disclosure practices related to environmental risks and the effectiveness of these disclosures in mitigating informational asymmetry.

Greenwashing: Critically assessing the discrepancy between corporate environmental actions and their promotional communications.

Behavioral Issues: Studying the influence of corporate culture on financial decisions and corporate performance.

Generative AI: Leveraging AI in research.

PhD Students

Current:

Ziye Huang (2023-2028, expected), co-supervised with Prof. Ning Gao.

Guo Lu (2023-2028, expected), co-supervised with Dr. George Voulgaris.

Completed:

Jiayu Dai (2020-2024), co-supervised with Prof. Ning Gao.

Professional Services

Deputy Director for The Centre for the Analysis of Investment Risk (CAIR).

ad-hoc reviewer for Accounting and Business Research, British Accounting Review, European Journal of Finance, International Journal of Finance & Economics, International Review of Financial Analysis, Journal of International Financial Markets, Institutions & Money, European Management Review.