Chi Liao

• Ph.D. Finance, University of Toronto, 2014
• B.Math, University of Waterloo, 2008
• B.B.A. Finance, Wilfrid Laurier University, 2008

Chi Liao is an associate professor of finance at the Asper School of Business. Dr. Liao’s research in household finance and behavioural finance focuses on the determinants of financial decision making, both individual and corporate, with the goal of developing a better understanding of observed behaviour. Her research has been published in leading finance and entrepreneurship journals including the Review of Finance and the Journal of Business Venturing. She has been interviewed and cited in the Wall Street Journal and CNBC, as well as locally by the Winnipeg Free Press, Global News, and CTV News.

Bogan, V., Kramer, L., Liao, C., & Niessen-Ruenzi, A. (2024). Race, Police Violence, and Financial Decision-Making. AEA Papers and Proceedings, 114, 163-68.

Jacoby, G., Liao, C., Lin, N., & Lu, L. (2024). Sentiment and the Cross-Section of Expected Stock Returns. The Financial Review, 59(2), 459-485.

Jacoby, G., Liao, C., Lu, X., & Wan, F. (2023). The Effect of Fraud Experience on Investment Behaviour. Emerging Markets Review, 55, 101007.

Liao, C. (2023). Risk-Taking Begets Risk-Taking: Evidence from Casino Openings and Investor Portfolios. The Financial Review, 58(1), 143-165.

Dyck, B., Liao, C., & Manchanda, R. (2023). The Effect of Teaching Multiple Approaches to Management on Students’ Subsequent Investment Decisions: Implications for Responsible Management Education. Journal of Education for Business, 98(7), 359-366.

Dyck, B., Liao, C., & Manchanda, R. (2022). Putting People and Planet Ahead of Profits: Nudges in Investor Profile Questionnaires. Journal of Business, Ethics and Society, 2(2), 1-32.

Greidanus, N. S., & Liao, C. (2021). Toward a Coping-Dueling-Fit Theory of the ADHD-Entrepreneurship Relationship: Treatment's Influence on Business Venturing, Performance, and Persistence. Journal of Business Venturing, 36(2), 106087.

Liao, C. (2021). ADHD Symptoms and Financial Distress. Review of Finance, 25(4), 1129-1210.

Gao, Y., Liao, C., Zhang, Y., & Zhang, Z. (2021). The Role of Investor Protections on the Value of Investment Banking Relationships: International Evidence. Journal of International Financial Markets, Institutions & Money, 72, 101313.

Kramer, L. A., & Liao, C. (2016). The Spillover Effects of Management Overconfidence on Analyst Forecasts. Journal of Behavioral and Experimental Finance, 12, 79-92.