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


Professor Liao conducts research in finance, with a focus on investment decision-making and behavioural finance. Her current work is aimed at understanding individuals’ behaviour and the subsequent implications for investment performance and corporate finance. Of specific interest are ways in which individuals’ behaviour may differ from traditional theories or assumptions, particularly when these individuals make decisions that have real impacts on financial outcomes. She has presented work at numerous conferences including the National Bureau of Economic Research Behavioral Economics Working Group and the Northern Finance Association Meetings, and her work has been cited in the Wall Street Journal and CNBC.