Mark H. Liu

University of Kentucky - Gatton College of Business and Economics

550 South Limestone

Lexington, KY 40506

United States

  • University of Kentucky - Gatton College of Business and Economics

    • Email
    • Tel: 859-257-9842
    • Fax: 859-257-9688
SCHOLARLY PAPERS

27

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13,837

TOTAL CITATIONS
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SSRN RANKINGS

Top 11,858

in Total Papers Citations

106

Ideas:
“  Predicting corporate events using machine learning; Predicting rare corporate events using oversampling and machine learning; Dealing with imbalanced data in predictions  ”

  • University of Kentucky - Gatton College of Business and Economics

    • Email
    • Tel: 859-257-9842
    • Fax: 859-257-9688

Scholarly Papers (27)

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1.

Industry Information and the 52-Week High Effect

Number of pages: 51 Posted: 23 Mar 2011 Last Revised: 13 Mar 2012
Xin Hong, Bradford D. Jordan and Mark H. Liu
University of Kentucky, University of Florida and University of Kentucky - Gatton College of Business and Economics
Downloads 2,139 (15,853)

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52-week high effect, momentum, anchoring bias

2.

Buy-Side Analysts, Sell-Side Analysts, and Fund Performance: Theory and Evidence

13th Annual Utah Winter Finance Conference
Number of pages: 47 Posted: 26 Feb 2003
Yingmei Cheng, Mark H. Liu and Jun "QJ" Qian
Florida State University - College of Business, University of Kentucky - Gatton College of Business and Economics and Fudan University - International School of Finance (FISF)
Downloads 1,196 (38,384)
Citation 4

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buy-side analyst, sell-side analyst, bias, earnings forecasts, excess return

3.

Corporate Disclosure, Analyst Forecast Dispersion, and Stock Returns

Number of pages: 44 Posted: 18 Jun 2004 Last Revised: 27 Sep 2016
Ashiq Ali, Mark H. Liu, Danielle Xu and Tong Yao
University of Texas at Dallas - Naveen Jindal School of Management, University of Kentucky - Gatton College of Business and Economics, Gonzaga University and University of Iowa - Henry B. Tippie College of Business
Downloads 1,130 (41,738)
Citation 4

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Corporate disclosure, analyst forecast dispersion, mispricing

4.

How Should a Firm Go Public? A Dynamic Model of the Choice between Fixed-Price Offerings and Auctions in Ipos and Privatizations

EFA 2003 Annual Conference Paper No. 366
Number of pages: 49 Posted: 20 Jul 2003
Thomas J. Chemmanur and Mark H. Liu
Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 1,100 (43,364)
Citation 28

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5.

Buy-Side Analysts, Sell-Side Analysts, and Investment Decisions of Money Managers

Downloads 832 (63,899)
Citation 11

Buy-Side Analysts, Sell-Side Analysts, and Investment Decisions of Money Managers

Number of pages: 39 Posted: 26 Apr 2005
Yingmei Cheng, Mark H. Liu and Jun "QJ" Qian
Florida State University - College of Business, University of Kentucky - Gatton College of Business and Economics and Fudan University - International School of Finance (FISF)
Downloads 832 (62,898)
Citation 11

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Buy-side analyst, sell-side analyst, bias, earnings forecast, excess return.

Buy-Side Analysts, Sell-Side Analysts, and Investment Decisions of Money Managers

Journal of Financial and Quantitative Analysis, Vol. 41, No. 1, pp. 51-83, March 2006
Posted: 13 Mar 2006
Mark H. Liu, Yingmei Cheng and Jun "QJ" Qian
University of Kentucky - Gatton College of Business and Economics, Florida State University - College of Business and Fudan University - International School of Finance (FISF)

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Buy-side analyst, sell-side analyst, bias, earnings forecast, excess return

6.

Does More Information in Stock Price Lead to Greater or Smaller Idiosyncratic Return Volatility?

Journal of Banking and Finance, Forthcoming
Number of pages: 61 Posted: 25 Mar 2008 Last Revised: 14 Nov 2010
Dong Wook Lee and Mark H. Liu
Korea University and University of Kentucky - Gatton College of Business and Economics
Downloads 658 (86,777)
Citation 3

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idiosyncratic volatility, noisy rational expectations equilibrium, price informativeness

7.

Why Do Firms Split Their Stocks Before Acquisition Announcements?

Number of pages: 46 Posted: 01 Nov 2005
Shourun Guo, Mark H. Liu and Weihong Song
Duke Energy Corp., University of Kentucky - Gatton College of Business and Economics and Independent
Downloads 602 (97,180)

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Stock Splits, Mergers and Acquisitions, Signaling, Optimal Trading Range, and Value Manipulation

8.

Anti-Takeover Provisions and Corporate Disclosure

AAA 2007 Financial Accounting & Reporting Section (FARS) Meeting Papers
Number of pages: 49 Posted: 15 Sep 2006
Huijing Fu and Mark H. Liu
Texas Christian University and University of Kentucky - Gatton College of Business and Economics
Downloads 536 (112,562)
Citation 11

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Anti-takeover provisions, Management earnings forecast, Analyst earnings forecast

9.

The Consensus-Beating Game

EFA 2003 Annual Conference Paper No. 399
Number of pages: 53 Posted: 21 Apr 2003 Last Revised: 10 Jun 2011
Tong Yao and Mark H. Liu
University of Iowa - Henry B. Tippie College of Business and University of Kentucky - Gatton College of Business and Economics
Downloads 484 (127,440)

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corporate disclosure, earnings guidance, consensus-beating

10.

Dividends versus Stock Repurchases and Long-Run Stock Returns under Heterogeneous Beliefs

Review of Corporate Finance Studies (RCFS), September 2021, 10(3), 578-632
Number of pages: 81 Posted: 30 Jun 2013 Last Revised: 16 Sep 2021
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 436 (144,312)
Citation 1

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Dividends, Stock repurchases, Heterogeneous beliefs, Long-run stock returns, Payout policy

11.

Independent Institutional Investors and Equity Returns

Downloads 435 (144,710)
Citation 3

Independent Institutional Investors and Equity Returns

Number of pages: 54 Posted: 16 Feb 2009
Yawen Jiao and Mark H. Liu
University of California, Riverside and University of Kentucky - Gatton College of Business and Economics
Downloads 221 (295,445)

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institutional ownership, independent institutions, information asymmetry, earnings surprise, earnings announcement abnormal returns, operating performance

Independent Institutional Investors and Equity Returns

Number of pages: 58 Posted: 17 Mar 2008 Last Revised: 25 Jul 2011
Yawen Jiao and Mark H. Liu
University of California, Riverside and University of Kentucky - Gatton College of Business and Economics
Downloads 214 (304,882)
Citation 3

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institutional ownership; independent institutions; information production; monitoring; earnings surprise; operating performance

12.

Growth Opportunities, Short-Term Market Pressure, and Dual-Class Share Structure

Number of pages: 58 Posted: 02 Aug 2014
Bradford D. Jordan, Soohyung Kim and Mark H. Liu
University of Florida, The University of Tampa and University of Kentucky - Gatton College of Business and Economics
Downloads 410 (154,992)
Citation 5

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dual class shares, voting rights, cash flow rights, share unification, sales growth, R&D expenditure

13.

Stock Splits as a Manipulation Tool: Evidence from Mergers and Acquisitions

Downloads 390 (163,929)
Citation 2

Stock Splits as a Manipulation Tool: Evidence from Mergers and Acquisitions

Number of pages: 27 Posted: 19 Jul 2007
Shourun Guo, Mark H. Liu and Weihong Song
Duke Energy Corp., University of Kentucky - Gatton College of Business and Economics and Independent
Downloads 390 (162,361)
Citation 2

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stock splits, mergers and acquisitions, and value manipulation

Stock Splits as a Manipulation Tool: Evidence from Mergers and Acquisitions

Financial Management, Forthcoming
Posted: 04 Sep 2007
Shourun Guo, Mark H. Liu and Weihong Song
Duke Energy Corp., University of Kentucky - Gatton College of Business and Economics and Independent

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stock splits, mergers and acquisitions, and value manipulation

14.

Idiosyncratic Return Volatility and Price Informativeness: Evidence from Stock Splits

Downloads 371 (173,319)
Citation 1

Idiosyncratic Return Volatility and Price Informativeness: Evidence from Stock Splits

Number of pages: 56 Posted: 15 Jan 2012 Last Revised: 14 Mar 2012
Mark H. Liu
University of Kentucky - Gatton College of Business and Economics
Downloads 219 (298,081)
Citation 1

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idiosyncratic return volatility, return synchronicity, price informativeness, institutional investors, stock splits

Idiosyncratic Return Volatility and Price Informativeness: Evidence from Stock Splits

Number of pages: 57 Posted: 14 Mar 2012 Last Revised: 07 May 2013
Mark H. Liu
University of Kentucky - Gatton College of Business and Economics
Downloads 152 (416,384)

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idiosyncratic return volatility, return synchronicity, price informativeness, institutional investors, stock splits

15.

Analysts' Incentives to Produce Industry-Level Versus Firm-Specific Information

Journal of Financial and Quantitative Analysis (JFQA), Forthcoming
Number of pages: 44 Posted: 07 Mar 2005 Last Revised: 15 Aug 2014
Mark H. Liu
University of Kentucky - Gatton College of Business and Economics
Downloads 356 (181,471)
Citation 10

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Analyst recommendation, industry-level information, firm-specific information

16.

How to Motivate Fundamental Innovation: Optimal Interactions between Entrepreneurs, Venture Capitalists, and the Government

Number of pages: 82 Posted: 23 Jun 2016 Last Revised: 28 May 2024
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 329 (197,683)
Citation 2

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Financing of innovations, Fundamental innovation, Venture capital financing, Innovation and the going public decision, Government subsidies, Innovation prizes.

17.

Institutional Trading, Information Production, and the Choice Between Spin-Offs, Carve-Outs, and Tracking Stock Issues

Journal of Corporate Finance, Forthcoming
Number of pages: 37 Posted: 17 Mar 2007 Last Revised: 19 Jul 2010
Thomas J. Chemmanur and Mark H. Liu
Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 315 (207,118)
Citation 2

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restructuring, corporate spin-offs, equity carve-outs, tracking stock issues, institutional trading, information production

18.

Anti-Takeover Provisions in Corporate Spin-Offs

Journal of Banking and Finance, Forthcoming
Number of pages: 50 Posted: 16 Mar 2007 Last Revised: 02 Feb 2022
Thomas J. Chemmanur, Bradford D. Jordan, Mark H. Liu and Qun Wu
Boston College - Carroll School of Management, University of Florida, University of Kentucky - Gatton College of Business and Economics and U of Nevada, Reno
Downloads 306 (213,734)
Citation 2

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Spin-offs, anti-takeover provisions, managerial entrenchment, long-term value creation, announcement return, operating performance

19.

A Theory of Equity Carve-Outs and Negative Stub Values under Heterogeneous Beliefs

Downloads 302 (216,798)
Citation 2

A Theory of Equity Carve-Outs and Negative Stub Values under Heterogeneous Beliefs

Journal of Financial Economics (JFE), June 2011, 100 (3), 616-638
Number of pages: 53 Posted: 25 Mar 2008 Last Revised: 19 Jun 2015
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 216 (302,164)
Citation 2

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heterogeneous beliefs, equity carve-outs, negative stub values

Management of Innovation, Equity Carve-Outs, and Negative Stub Values under Heterogeneous Beliefs

Number of pages: 47 Posted: 07 Mar 2008 Last Revised: 24 Nov 2018
Thomas J. Chemmanur, Onur Bayar and Mark H. Liu
Boston College - Carroll School of Management, University of Texas at San Antonio - Alvarez College of Business and University of Kentucky - Gatton College of Business and Economics
Downloads 86 (640,616)

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heterogeneous beliefs, management of innovation, equity carve-outs

20.

Corporate Payout Policy in Dual-Class Firms

Number of pages: 56 Posted: 16 Jan 2012 Last Revised: 07 May 2013
Bradford D. Jordan, Mark H. Liu and Qun Wu
University of Florida, University of Kentucky - Gatton College of Business and Economics and U of Nevada, Reno
Downloads 262 (251,098)
Citation 5

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dual class, voting rights, cash flow rights, dividends, payout policy

21.

Organizational Structure and Corporate Payout Policy

Number of pages: 64 Posted: 11 Dec 2013
Bradford D. Jordan, Mark H. Liu and Qun Wu
University of Florida, University of Kentucky - Gatton College of Business and Economics and U of Nevada, Reno
Downloads 242 (272,955)
Citation 7

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cash dividends, payout policy, share repurchase, mergers and acquisitions, cross-segment correlations

22.

Do Investment Banks Listen to Their Own Analysts?

Number of pages: 44 Posted: 11 Aug 2009
Bradford D. Jordan, Mark H. Liu and Qun Wu
University of Florida, University of Kentucky - Gatton College of Business and Economics and U of Nevada, Reno
Downloads 241 (272,955)
Citation 1

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Analyst stock recommendations, conflicts of interest, security analysts, investment banks, institutional investors

23.

A Theory of Capital Structure, Price Impact, and Long-Run Stock Returns under Heterogeneous Beliefs

Review of Corporate Finance Studies (RCFS), September 2015, 4 (2), 258-320
Number of pages: 68 Posted: 19 Mar 2010 Last Revised: 05 May 2016
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 236 (279,820)
Citation 2

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Capital Structure, Heterogeneous Beliefs, Convertible Debt Issues, Security Tranching, Price Impact, Long-Run Stock Returns.

24.

Predicting Stock Splits Using Ensemble Machine Learning and SMOTE Oversampling

Number of pages: 61 Posted: 16 Feb 2022 Last Revised: 05 Jan 2023
Ang Li, Mark H. Liu and Simon J. Sheather
Lingnan University, University of Kentucky - Gatton College of Business and Economics and Texas A&M University
Downloads 234 (282,223)

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stock splits, ensemble machine learning, gradient boosting machines, random forests, SHAP feature importance, hyperparameter tuning, SMOTE oversampling

25.

Can Mergers and Acquisitions Internalize Positive Externalities in Funding Innovation?

Number of pages: 43 Posted: 05 Mar 2020
Thomas J. Chemmanur, Ang Li and Mark H. Liu
Boston College - Carroll School of Management, Lingnan University and University of Kentucky - Gatton College of Business and Economics
Downloads 218 (300,899)

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patents, innovation, mergers and acquisitions, synergy, technological class

26.

Information, Incentives, and Effects of Risk-Sharing on the Real Economy

Number of pages: 25 Posted: 10 Apr 2019
Mark H. Liu, Wenfeng Wu and Tong Yu
University of Kentucky - Gatton College of Business and Economics, Shanghai Jiao Tong University - Antai College of Economics & Management and University of Cincinnati - Department of Finance - Real Estate
Downloads 77 (675,092)

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risk sharing, incentive, information, risk management, systemic risk

27.

Mutual fund preference for pure-play firms

Journal of Financial Markets, Forthcoming
Posted: 10 Mar 2022
Bradford D. Jordan, Ang Li and Mark H. Liu
University of Florida, Lingnan University and University of Kentucky - Gatton College of Business and Economics

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mutual funds, pure-play firms, industry expertise, business segments, diversification discount