Skip to main content

About Crocker H. Liu

Crocker H. Liu is the Robert A. Beck Professor of Hospitality Financial Management and a professor of real estate at the Cornell University School of Hotel Administration. He previously taught at New York University’s Stern School of Business (1988-2006), where he was the associate director of real estate, and more recently at Arizona State University’s W.P. Carey School of Business (2006-2009), where he held the McCord Chair in addition to being the director of the Center for Real Estate Theory and Practice.

Professor Liu’s research interests are focused on issues in real estate finance, particularly topics related to agency, corporate governance, organizational forms, market efficiency, and valuation. His research has been published in the Review of Financial Studies, Journal of Financial Economics, Journal of Business, Journal of Financial and Quantitative Analysis, Journal of Law and Economics, Journal of Financial Markets, Review of Finance, Journal of Urban Economics, Regional Science and Urban Economics, Real Estate Economics, and the Journal of Real Estate Finance and Economics. From 2001 to 2014, he was co-editor of Real Estate Economics—the top academic real estate journal—and he is still on its editorial board. Professor Liu previously served on the editorial boards of the Journal of Real Estate Finance and Economics, Journal of Property Research, and the Journal of Real Estate Finance.

Professor Liu won five teaching awards at NYU, including Undergraduate Teacher of the Year, Executive MBA in Finance Teacher of the Year, and Distinguished Teaching Fellow. He has one teaching award at Cornell. He also has won seven research awards. Professor Liu is a member of Lambda Alpha, the honorary land economics fraternity. He is a two-time recipient of the Power Player of the Year Award (2007 and 2008) bestowed by the Phoenix Business Journal.

Professor Liu was a professional realtor in Hawaii for a number of years (1972-2002) and was a vice president with Prudential Real Estate Investment Group (1992-1993). He has consulted with RREEF (now part of Deutsche Bank), Federal National Mortgage Association (Fannie Mae), Milliman and Robertson, and Standard and Poor’s, among others. Professor Liu earned his BBA in real estate and finance from the University of Hawaii, an MS in real estate from the University of Wisconsin (under Professor James A. Graaskamp), and a PhD in finance and real estate from the University of Texas (under Professor Vijay S. Bawa).

Positions

2009 Present Robert A. Beck Professor of Hospitality Financial Management, Cornell University School of Hotel Administration
to
Present Robert A. Beck Professor of Hospitality Financial Management, Cornell University School of Hotel Administration
to
20062009 McCord Chair (Full Professor) in Finance, Arizona State University
to
19952006 Associate Professor of Finance and Real Estate, New York University
to
19881995 Assistant Professor of Finance and Real Estate, New York University
to
19841986 Assistant Instructor in Real Estate, University of Texas
to
19821985 Visiting Lecturer in Finance, University of Hawaii
to
1980 Research Assistant in Urban Land Economics, University of Wisconsin
to
1978 Research Assistant in Real Estate, University of Hawaii
to
19741976 Teaching Assistant in Real Estate, University of Hawaii
to

Curriculum Vitae



Research Interests


$
to
Enter a valid date range.

to
Enter a valid date range.

Honors and Awards

  • 2013 Midwest Finance Association: Best Finance Paper Award
  • 2013: American Real Estate Society: Best REIT Paper Award
  • 2013 SSRN Top Ten Download List (4/23/2013): Banking & Financial Institutions
  • 2012 American Real Estate Society: Best Retail Real Estate Paper Award
  • 2011 Elected to Field of Economics faculty
  • 2014 Faculty Teaching Recognition Award, Real Estate: Graduate Elective
  • 2007 Goldman Sachs Asset Management Best Research Paper, Review of Finance
  • 2007 Toronto CFA Society Best Paper Award: Hedge Fund, Mutual Fund, and Institutional Fund Conglomerates: Risk and Return Choices for a Sophisticated Investor.
  • 2008 “Power Player” Award: Phoenix Business Journal
  • 2007 “Power Player” Award: Phoenix Business Journal
  • 2006 Inducted into Lambda Alpha: Honorary Land Economics Fraternity
  • 2007 ASU Honors Disciplinary Faculty
  • 2004 Inducted as a Homer Hoyt Fellow
  • 2004 Ranked #1 (leading academic) in real estate investments area based on citations and impact factor based on academic study reported in Journal of Real Estate Finance and Economics (J. Dombrow and G. Turnbull, 2004. Trends in Real Estate Research, 1988- 2001: What’s Hot and What’s Not, in Journal of Real Estate Finance and Economics 29(1): 47-70)
  • 2003 SSRN's Top 10 download list for AFA 2003 Washington, DC Meetings (Jay Hartzell, Jarl Kallberg, and Crocker H. Liu, "The Role of Corporate Governance in Initial Public Offerings: Evidence from Real Estate Investment Trusts")
  • 2003 SSRN's Top 10 download list for SSRN's "Real Estate Recent Hits (Heitor Almeida, Murillo Campello, and Crocker H. Liu. "The Financial Accelerator in Household Spending: Evidence from International Housing Markets")
  • 2001 SSRN's Top 10 download list for AFA 2001 New Orleans Meetings (Jarl Kallberg, Crocker H. Liu, and Paolo Pasquariello " The New Asia: Regime Shifts in Currency and Equity Markets ")
  • 1994 AAII Award for Best Real Estate Paper, presented at AREUEA meeting
  • 1993 AAII Award for Best Real Estate Paper, presented at AREUEA meeting
  • 1992 AAII Award for Best Real Estate Paper, presented at AREUEA meeting
  • 1991 Co-winner of Wiley Award for best paper in the Journal of Real Estate Research
  • 1990 Post Doctoral Homer Hoyt Institute Award Winner
  • 1989 First Place in AREUEA/Homer Hoyt Institute Doctoral Dissertation Contest.


Education

to
1988 PhD in Finance and Real Estate, University of Texas
to
1980 MS in Real Estate, University of Wisconsin
to
1976 BBA in Real Estate, University of Hawaii
to


Contact Information

Real Estate
440 Statler Hall
Phone: 607.255.3739

Email:


Articles (88)