Real Estate Finance, REITs, Valuation
Crocker H. Liu is a professor of real estate at the School of Hotel Administration where he holds the Robert A. Beck Professor of Hospitality Financial Management. He previously taught at New York University’s Stern School of Business (1988-2006) where he was the associate director of real estate and more recently at Arizona State University’s W.P. Carey School of Business (2006-2009) where he held the McCord Chair in addition to being the Director of The Center for Real Estate Theory and Practice. His research interests are focused on issues in real estate finance, particularly topics related to agency, corporate governance, organizational forms, market efficiency and valuation. Liu’s research has been published in the Review of Financial Studies, Journal of Financial Economics, Journal of Business, Journal of Financial and Quantitative Analysis, Journal of Law and Economics, Journal of Financial Markets, Review of Finance, Real Estate Economics and the Journal of Real Estate Finance and Economics. He is currently the co-editor of the Journal of Real Estate Economics, the leading real estate academic journal and is on the editorial board of the Journal of Property Research. He also previously served on the editorial boards of the Journal of Real Estate Finance and Economics and the Journal of Real Estate Finance. He currently serves on the advisory board of the Real Estate Research Institute and is on the board of directors of the American Real Estate and Urban Economics Association. Liu won five teaching awards at NYU, including Undergraduate Teacher of the Year, Executive MBA in Finance Teacher of the Year, and Distinguished Teaching Fellow. He also has won seven research awards. He is a member of Lambda Alpha, the Honorary Land Economics fraternity. He is a two time recipient of the Power Player of the Year (2007-2008) Award bestowed by the Phoenix Business Journal. He was a professional realtor in Hawaii for a number of years and was a vice president with Prudential Real Estate Investment Group. He has consulted with RREEF, Milliman and Robertson, and Standard and Poor's, among others. Liu earned his BBA in real estate and finance from the University of Hawaii, an M.S. in real estate from Wisconsin under Dr. James Graaskamp, and a Ph.D. in finance and real estate from the University of Texas.