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Xin Liu

Dr., Dr


Accepting PhD Students

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Personal profile

Research interests

I am a Lecturer (equivalent to Assistant Professor) in Finance at School of Management, University of Bath since 2018. I received my Ph.D. degree in finance from The University of Hong Kong.  I also hold a bachelor degree in economics from Tsinghua University.

My research interests are empirical asset pricing and behavioral finance. My papers have been published in Review of Finance, Journal of Empirical Finance.

For more information on my research output, please visit



Investor Target Prices (with Shiyang Huang and Chengxi Yin), Journal of Empirical Finance, 2019, Volume 54, Pages 39-57

Skewness, Individual Investor Preference, and the Cross-Section of Stock Returns (with Tse-Chun Lin), Review of Finance, 2018, Volume 22, Issue 5, Pages 1841–1876

Working Papers:

Diversification in Lottery-Like Features and Portfolio Pricing Discounts 

The Invisible Burden: Goodwill and the Cross-Section of Stock Returns (with Weinan Zheng and Chengxi Yin)

Willing to supervise PhD

I am willing to supervise PhD students who are proficient in SAS programming and dealing with financial databases on projects related to my research area.

Education/Academic qualification

PhD in Finance, University of Hong Kong

B.A. in Economics, Tsinghua University

Fingerprint Dive into the research topics where Xin Liu is active. These topic labels come from the works of this person. Together they form a unique fingerprint.

Lottery Business & Economics
Cross-section of stock returns Business & Economics
Pricing Business & Economics
Diversification Business & Economics
Individual investors Business & Economics
Discount Business & Economics
Skewness Business & Economics
Preferred stock Business & Economics

Network Recent external collaboration on country level. Dive into details by clicking on the dots.

Projects 2018 2020

The Information Content in Financial Markets

Liu, X. & Xie, R.


Project: Research-related funding

University of Bath seed corn fund

Liu, X.


Project: Research-related funding

Research Output 2018 2019

Investor Target Prices

Huang, S., Liu, X. & Yin, C., 12 Aug 2019, In : Journal of Empirical Finance. 54, p. 39-57 19 p.

Research output: Contribution to journalArticle

Diversification in Lottery-like Features and Portfolio Pricing Discounts

Liu, X., 2018, (In preparation).

Research output: Working paper

Closed-end funds
Mergers and acquisitions

Skewness, Individual Investor Preference, and the Cross-section of Stock Returns

Lin, T-C. & Liu, X., 5 Aug 2018, In : Review of Finance. 22, 5, p. 1841-1876 36 p., rfx036.

Research output: Contribution to journalArticle

Open Access
Individual investors
Preferred stock
Cross-section of stock returns