Prof. Bing Liang

Bing Liang

Professor of Finance

Telephone: 413-545-3180

Office: Isenberg 308B

Education:

Ph.D., University of Iowa, 1995
M.S., University of Iowa, 1990
M.S., Chinese Academy of Science, 1988
B.S., Ocean University of China, 1982

Research/Teaching Interests:

Capital market efficiency
Hedge funds and mutual funds
Investments
Corporate Finance
Empirical Methods in Finance

Publications/Presentations:

"Onshore and Offshore Hedge Funds: Are They Twins?" (with George Aragon and Hyuna Park). Management Science, forthcoming.

"Can Hedge Funds Time Market Liquidity?" (with Charles Cao, Yong Chen, and Andrew Lo). Journal of Financial Economics, forthcoming. Supported by grants from the Q-Group and from BNP Paribas Hedge Fund Center at SMU.

"Trust and Delegation" (with Stephen Brown, Will Goetzmann, and Chris Schwarz), 2012, Journal of Financial Economics 103, 221-234. Lead article. (view abstract)

"Predicting Hedge Fund Failure: A Comparison of Risk Measures" (with Hyuna Park), 2010, The Journal of Financial and Quantitative Analysis 45, 199-222. (view abstract)

"Mandatory Disclosure and Operational Risk: Evidence from Hedge Fund Registration" (with Stephen Brown, Will Goetzmann, and Chris Schwarz), 2008, Journal of Finance 63, 2785-2815. Part of the testimony given before a Hearing of the U.S. Congress House Financial Services Committee on Hedge Funds and Systemic Risk, March 13, 2007.

"Do Market Timing Hedge Funds Time the Market?" (with Yong Chen), December 2007, 827-856, Journal of Financial and Quantitative Analysis 42 (invited).

"Do Hedge Funds Have Enough Capital? A Value at Risk Approach" (with Anurag Gupta). Journal of Financial Economics 77, 219-253, July 2005.

Academic and Professional Activities:

Guest Editor: European Financial Management 13, March 2007

Associate Editor: Journal of Investment Management, 2004-present

Editorial Board: European Financial Management, 2007-present

Editorial Board: Journal of Alternative Investments, 2004-present

Grants:

Research Fellow, Isenberg School of Management, 2007, 2008

BSI Gamma Foundation Award, 2007

Best Paper Award, China International Conference in Finance, 2007

Award for Outstanding Accomplishments in Research and Creative Activity,
University of Massachusetts, Amherst, 2006

Outstanding Research Award, Isenberg School of Management, 2006

INQUIRE UK Research Grant, 2006

Lilly Teaching Fellowship, 2005-2006, University of Massachusetts, Amherst

The Q-Group Research Grant, 2005

Best Paper Award in Hedge Funds, European Finance Associate Meetings, 2003