Publications:Liao, S., Nguyen, N.H. and Truong, C. (2025). CEO's Early-life Experience of Disasters and Corporate Environmental Performance. Abacus. DOI: https://doi.org/10.1111/abac.12358 Frijn, B., Garel, A. and Liao, S. (2024). Employee demographic diversity and firm performance. Financial Management. DOI: https://doi.org/10.1111/fima.12484.Liao, S. and Dodd, O. (2024). The role of inventory in firm resilience to the Covid-19 pandemic. European Financial Management. DOI: https://doi.org/10.1111/eufm.12517. Liao, S., Nguyen, N. H., & Truong, C. (2024). Does CEO Extraversion Pay off When in Need? Evidence from the Global Financial Crisis. British Accounting Review, 56(4), 101234. DOI: https://doi.org/10.1016/j.bar.2023.101234Dodd, O., Frijns, B., Gong, R. K., & Liao, S. (2023). Board cultural diversity and firm performance under competitive pressures. Financial Review, 00, 1–23. DOI: https://doi.org/10.1111/fire.12365 Liao, S., Nolte, I., & Pawlina, G. (2023). Can Capital Adjustment Costs Explain the Decline in Investment-Cash Flow Sensitivity? Journal of Financial and Quantitative Analysis, 1-48. DOI:10.1017/S0022109023000418 Liao, S. (2023). The Russia-Ukraine Outbreak and the Value of Renewable Energy. Economics Letters. DOI: https://doi.org/10.1016/j.econlet.2023.111045 Hegde, P., Liao, S., Ma, R., & Nguyen, N. H. (2022).CEO Marital Status and Insider Trading. British Journal of Management. DOI: https://doi.org/10.1111/1467-8551.12673 Liao, S. and Errico, M. (2022). Corporate investment and stock market valuation. Journal of Business Finance and Accounting, DOI: https://doi.org/10.1111/jbfa.12649 Kim, J.B., Liao, S. and Liu, Y. (2021). Married CEOs and Stock Price Crash Risk. European Financial Management, DOI: 10.1111/eufm.12343 Liao, S. (2021). The effect of credit shocks in the context of labor market frictions. Journal of Banking and Finance, 125, p.106091. DOI: https://doi.org/10.1016/j.jbankfin.2021.106091
Social Media and Press:
Corporate investment and stock market valuation (with Marco Errico) Featured in Research Outrearch: "Stock market valuation: Don’t hate the player, hate the game!" https://researchoutreach.org/articles/stock-market-valuation-hate-player-hate-game/CEO Marital Status and Insider Trading (with Prasad Hedge, Rui Ma and Nhut H. Nguyen) Featured in The Conversation: "For richer, for poorer: how married CEOs are less prone to risky investing and insider trading"How Boards’ Cultural Diversity Affects Firm Performance Under Competitive Pressure (with Dodd, O., Frijns, B., Gong, R. K.) Featured in the CLS Blue Sky Blog on Corporations and the Capital Markets.
Working papers:
Kim, J. B., Liao, S., & Liu, Y. (2022). Creditor Rights, Access to Finance, and Stock Price Crash Risk. Available at SSRN: http://dx.doi.org/10.2139/ssrn.4219876
Liao, S., Nguyen, N. H., & Pawlina, G. (2022). Family to Firm Expansion: How Does the CEO Children Number Affect Corporate Investment? Available at SSRN: http://dx.doi.org/10.2139/ssrn.4140922
Liao, S., Nolte, I., & Pawlina, G., (2020). Hit by the Double Whammy: The Joint Effect of Measurement Error in Q and Covariance Between Regressors on Coefficient Bias.
Gounopoulos, D., Liao, S., & Yang, T., Zhang, X. (2022). It’s All about family.
Yu, K. , Liao, S., & Lin, T.S. (2023) Product Market Competition and CFO Incentives.
Liao, S., Quaquebeke, N.V., Dodd, O. (2023). The monkey within: A CEO’s face width-to-height ratio biases rivals' cash savings and investment decisions