Projects per year
Personal profile
Research interests
I hold a PhD in Finance and MSc in Economics from University of Exeter Business School. My primary interests include corporate pension funds; the financing of early-stage, high-growth, high-tech entrepreneurial firms; and directors’ compensation. I am also actively involved in research on small business growth dynamics; and government policies on entrepreneurship and entrepreneurial finance. I have published extensively in leading academic journals, and has been commissioned by both national governments and international institutions to conduct policy-focused research on entrepreneurship policy and policy evaluation. Prior to joining University of Bath, I was Associate Professor at Shanghai University of Finance and Economics, and Renmin University of China. I have also held positions at Exeter Business School and UK Department for Business Innovation and Skills (BIS).
Willing to supervise doctoral students
Pension scheme and corporate investment, financing and/or payout decisions; Financing of SMEs and entrepreneurial businesses.
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Collaborations and top research areas from the last five years
Projects
- 2 Finished
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Understanding how constraints on access to finance and under-investment impact on productivity growth in smaller firms
Liu, W. (PI)
Economic and Social Research Council
4/07/22 → 3/10/25
Project: Research council
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Loan size concentration under the UK enterprise finance guarantee scheme and SME access to finance
Cowling, M., Liu, W., Yang, H. & Wilson, N., 6 Mar 2025, (E-pub ahead of print) In: Journal of Small Business Management. 32 p.Research output: Contribution to journal › Article › peer-review
Open Access -
Who has an R&D investment opportunity? Who goes ahead? How much do they invest?
Cowling, M., Liu, W. & Vorley, T., 31 Mar 2025, In: R and D Management. 55, 2, p. 326-340 15 p.Research output: Contribution to journal › Article › peer-review
Open Access5 Citations (SciVal) -
Are product and process innovations supermodular? Complementary returns to product and process innovations
Cowling, M., Vorley, T., Liu, W. & Abdul Rahman, S., 31 Dec 2025, In: Economics of Innovation and New Technology. 34, 8, p. 12147-1273Research output: Contribution to journal › Article › peer-review
Open Access -
Conforming to Gender Stereotypes and Entrepreneurs’ Financing Outcomes
Liu, W. & Cowling, M., 1 Apr 2024, In: British Journal of Management. 35, 2, p. 1059-1075 17 p.Research output: Contribution to journal › Article › peer-review
Open Access11 Citations (SciVal) -
Getting Left Behind? The Localised Consequences of Exclusion from the Credit Market for UK SMEs
Cowling, M., Brown, R., Liu, W. & Rocha, A., 1 Mar 2024, In: Cambridge Journal of Regions, Economy and Society. 17, 1, p. 181-200 20 p., rsad033.Research output: Contribution to journal › Article › peer-review
Open Access6 Citations (SciVal)