Peng Liu

Peng Liu

  • Associate Professor
  • Singapore Tourism Board Distinguished Professor in Asian Hospitality Management

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Interdisciplinary Theme

  • Innovation, Entrepreneurship & Technology
  • Behavioral Economics and Decision Research
  • Business of Food

Faculty Expertise

  • Real Estate
  • Finance
  • Tourism
  • Quantitative Modeling
  • Asset Management


School of Hotel Administration


Cornell Directory Entry


Peng Liu is the Singapore Tourism Board distinguished chair professor in Asian hospitality management at Cornell University’s School of Hotel Administration and associate professor of real estate and finance at SC Johnson College of Business, Cornell University. Dr. Liu is an active researcher, and an editor of the Journal of Real Estate Portfolio Management, the official journal of the American Real Estate Society.
Liu’s research focuses on the interaction between financial innovations and real economy, with a specific interest in real estate finance and investment, securitization, REITs, commodity pricing, and market analysis and operational research in retail, airline, hospitality, and recreational industries. Liu has published extensively in top-tier journals, including Review of Financial Studies, Management Science, Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Banking and Finance, Journal of Empirical Finance, among others.

Liu worked for Goldman Sachs Asset Management in New York City and held the position of senior consultant at Deloitte Consulting in Beijing. Prof. Liu is also a respectful securitization expert in China. He funded the Global Asset Allocation and Securitization Forum and Global REIT investment Challenge in China. He currently serves as the expert advisor to Shenzhen Security Exchange, China Insurance Asset Management Association and the China Securitization Forum.

Liu has received the William N. Kinnard Scholar Award from the American Real Estate Society, the Homer Hoyt Post-Doctoral Honoree from the Weimer School of Advanced Studies, and the numerous best research awards. He was named teacher of the year at the U.C. Berkeley’s master program in financial engineering. Prof Liu also taught the executive programs (EMBA) at top university in China including Tsinghua, Zhejiang, Shanghai Jiaotong, and Hong Kong Chinese University.

Liu earned a PhD co-majoring in Finance and Real Estate from Haas School of Business, U. C. Berkley and MA in Financial Economics from Peking University and a BS in Engineering from Tsinghua University, China.

Selected Publications

Awards and Honors

  • The William N. Kinnard Scholar Award (2014) American Real Estate Society
  • Homer Hoyt Post-Doctoral Award (2014) Weimer School of Advanced Studies in Real Estate and Land Economics
  • 2013 Industry Relevance Research Award (2013) Cornell University - School of Hotel Administration

Recent Courses

  • HADM 6990 - Graduate Special Studies Project I
  • HADM 4940 - Management Intern Program II - Academic
  • HADM 4930 - Management Intern Program I - Operations
  • HADM 4250/HADM 6250 - Securitization and Structured Financial Products
  • HADM 4990 - Special Studies Project I

Academic Degrees

  • PhD University of California at Berkeley, Haas School of Business, 2007
  • MS University of California at Berkeley, Haas School of Business, 2007
  • MS University of California at Berkeley, Agricultural and Resource Economics, 2002
  • MA Peking University, School of Economics, 2000
  • BS Tsinghua University, Materials Science and Engineering, 1994

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