Peng Liu

Cornell University

Professor, Real Estate and Finance

448 Statler Hall

Ithaca, NY 14853

United States

Cornell SC Johnson College of Business

Ithaca, NY 14850

United States

SCHOLARLY PAPERS

26

DOWNLOADS
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5,745

SSRN CITATIONS
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SSRN RANKINGS

Top 6,805

in Total Papers Citations

146

CROSSREF CITATIONS

121

Scholarly Papers (26)

1.

Real Earnings Management and Dividend Payout Signals: A Study for U.S. Real Estate Investment Trusts

(CAAA) 2008 Annual Conference Paper
Number of pages: 40 Posted: 03 Jan 2008
University of California, Berkeley - Fisher Center for Real Estate and Urban Economics, Cornell University and McGill University - Desautels Faculty of Management
Downloads 1,382 (27,534)
Citation 9

Abstract:

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Keywords: Real Estate Investment Trusts (REITs), Regulation, Dividend Payout, Real Earnings Management, Taxable Income

2.

Rational Herding in Microloan Markets: Online Appendix

Management Science, Vol. 58, No. 5, May 2012
Number of pages: 10 Posted: 19 Sep 2011 Last Revised: 06 Jun 2012
Juanjuan Zhang and Peng Liu
Massachusetts Institute of Technology (MIT) - Sloan School of Management and Cornell University
Downloads 840 (55,862)
Citation 93

Abstract:

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Rational Herding, Observational Learning, Bayesian Inference, Microloan Markets, Peer-to-Peer Lending, Prosper.com

3.

Economic Linkages, Relative Scarcity, and Commodity Futures Returns

Number of pages: 50 Posted: 26 Nov 2008 Last Revised: 31 Mar 2020
Jaime Casassus, Peng Liu and Ke Tang
Pontificia Universidad Catolica de Chile, Cornell University and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 714 (69,342)
Citation 16

Abstract:

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commodity futures, economic linkages, relative scarcity, correlation term structure, convenience yields, spread options

4.

The Stochastic Behavior of Commodity Prices with Heteroskedasticity in the Convenience Yield

Journal of Empirical Finance, Forthcoming
Number of pages: 26 Posted: 25 Mar 2008 Last Revised: 18 Dec 2010
Peng Liu and Ke Tang
Cornell University and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 560 (94,251)
Citation 8

Abstract:

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commodity, convenience yield, heteroskedasticity, affine models, volatility smile

SEC Intervention and Industry Guidance: The Effect on Non-GAAP Financial Disclosures

CAAA Annual Conference 2009 Paper
Number of pages: 51 Posted: 14 Jan 2009
Steve Fortin, Peng Liu and Desmond Tsang
University of Waterloo - School of Accounting and Finance, Cornell University and McGill University - Desautels Faculty of Management
Downloads 233 (247,062)
Citation 2

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Non-GAAP Reporting, Regulation G, Sarbanes-Oxley, Industry Guidance, Funds from Operations, REIT

SEC Intervention and Industry Guidance: The Effect on Non-GAAP Financial Disclosures

Number of pages: 50 Posted: 18 Sep 2008 Last Revised: 08 Dec 2014
Steve Fortin, Peng Liu and Desmond Tsang
University of Waterloo - School of Accounting and Finance, Cornell University and McGill University - Desautels Faculty of Management
Downloads 138 (393,603)
Citation 1

Abstract:

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Non-GAAP reporting, Regulation G, Sarbanes-Oxley, Industry Guidance, Funds from Operations, REIT

6.

The Markets for Real Estate Presales: A Theoretical Approach

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 29 Posted: 24 Mar 2008 Last Revised: 20 Sep 2011
Cornell University, University of California, Berkeley - Fisher Center for Real Estate and Urban Economics and Citadel LLC
Downloads 359 (159,005)

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Presale, Hedge Real Estate Risks, Housing, Heterogeneous Beliefs

Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

Number of pages: 39 Posted: 06 Aug 2008
Yongheng Deng and Peng Liu
Wisconsin School of Business, University of Wisconsin-Madison and Cornell University
Downloads 302 (189,994)
Citation 4

Abstract:

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Mortgage, Prepayment, Default, Credit Risk, Forward Contract, Pre-sale

Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

Journal of Real Estate Finance and Economics, Vol. 38, No. 3, 2009
Posted: 09 Nov 2008
Yongheng Deng and Peng Liu
Wisconsin School of Business, University of Wisconsin-Madison and Cornell University

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mortgage, prepayment, default, credit risk, forward contract, pre-sale

Real Assets, Liquidation Value and Choice of Financing

Number of pages: 47 Posted: 08 Dec 2010
Cornell University, Arizona State University and Blackstone Group LLC
Downloads 207 (276,419)
Citation 3

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Capital Structure, Financing Choice, Liquidation Value, Real Estate

Real Assets, Liquidation Value and Choice of Financing

Real Estate Economics, Forthcoming
Posted: 20 Mar 2015
Cornell University - School of Hotel Administration, Cornell University and Boston College

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Financing, REITs, Tenant Quality, Firesale Discount, Industry Diversification, Liquidation Value, Cap Rate, Capital Structure

9.

Maximal Affine Models for Multiple Commodities: A Note

Number of pages: 17 Posted: 09 Sep 2012
Jaime Casassus, Peng Liu and Ke Tang
Pontificia Universidad Catolica de Chile, Cornell University and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 157 (354,144)

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maximal affine models, multiple commodities, futures prices

Foreclosure of Securitized Commercial Mortgages - A Model of the Special Servicer

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 26 Posted: 15 Aug 2011 Last Revised: 15 Nov 2011
Peng Liu and Daniel C. Quan
Cornell University and Cornell University - School of Hotel Administration
Downloads 146 (376,182)
Citation 5

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CMBS, Special Servicer, Foreclosure, Optimal Contract Design, First-loss Bond

Foreclosure of Securitized Commercial Mortgages - A Model of the Special Servicer

Journal of Real Estate Finance and Economics, Vol. 46, No. 2, 2013
Posted: 13 Feb 2013
Peng Liu and Daniel C. Quan
Cornell University and Cornell University - School of Hotel Administration

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CMBS, Special servicer, Foreclosure, Optimal contract design, First-loss bond

11.

Pricing Reservations: A General Equilibrium Approach

Number of pages: 21 Posted: 23 Sep 2012
Peng Liu
Cornell University
Downloads 111 (463,620)

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reservation, hotel demand, revenue management, service

12.

Are Government Owned Investment Funds Created Equal? Evidence From Sovereign Wealth Fund Real Estate Acquisitions

Journal of Real Estate Finance and Economics, 2019
Number of pages: 53 Posted: 13 Feb 2020
Cornell University, University of Missouri - Kansas City and Lehigh University - Perella Department of Finance
Downloads 108 (472,933)
Citation 2

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Sovereign Wealth Funds, Real Estate Investment, International Real Estate, Foreign Investment, Cross-Border Investment, Public Pension Funds

List Price Information in the Negotiation of Commercial Real Estate Transactions: Is Silence Golden?

Number of pages: 27 Posted: 13 Jun 2012
Dean H. Gatzlaff and Peng Liu
Florida State University and Cornell University
Downloads 105 (485,786)
Citation 4

Abstract:

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commercial real estate sales, negotiation, listing price, anchoring, signaling

14.

Investor Cliques and Superior Fund Performance in Less Efficient Markets: An Examination of Private Equity Real Estate Funds

Number of pages: 38 Posted: 02 Mar 2023
Bobby Yu, Peng Liu and Prashant Das
Cornell University - S.C. Johnson College of Business - Nolan School of Hotel Administration, Cornell University and Indian Institute of Management Ahmedabad - Indian Institute of Management - Finance & Accounting Area
Downloads 99 (502,654)

Abstract:

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LPs, clique, network theory, fund performance, real estate, private equity

15.

Is What's Bad for the Goose (Tenant), Bad for the Gander (Landlord)? A Retail Real Estate Perspective

Journal of Real Estate Research, Vol. 35, No. 3, 2013
Number of pages: 34 Posted: 15 Jan 2014
Crocker Herbert Liu and Peng Liu
Cornell University - School of Hotel Administration and Cornell University
Downloads 59 (675,012)
Citation 5

Abstract:

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bankruptcy announcement, bankruptcy, retail lease, growth option

16.

Guide to Using the Free Rent Calculator

Number of pages: 6 Posted: 12 Jan 2021
Peng Liu, Luoyi Su and Jan deRoos
Cornell University, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 57 (685,959)

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free rent, concessions, commercial lease

17.

Introducing 'Focused Firms': Implications from REIT Prime Operating Revenue

The Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 43 Posted: 13 May 2021 Last Revised: 26 Aug 2021
Zifeng Feng and Peng Liu
The University of Texas at El Paso and Cornell University
Downloads 49 (734,135)
Citation 4

Abstract:

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Prime Operating Revenue, Business Focus, Performance, Risk, REIT

18.

Volatility Forecasts by Clustering: Applications for VAR Estimation

Number of pages: 44 Posted: 23 Mar 2023
Southwestern University of Finance and Economics, Shanghai Business School, Cornell University and SUNY at Buffalo - School of Management
Downloads 42 (781,502)

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Volatility forecasts, Fisher's optimal dissection, value-at-risk

19.

Is California More Energy Efficient than the Rest of the Nation? Evidence from Commercial Real Estate

NBER Working Paper No. w21912
Number of pages: 28 Posted: 25 Jan 2016 Last Revised: 17 May 2023
Matthew E. Kahn, Nils Kok and Peng Liu
University of Southern California, School of Business and Economics, Maastricht University and Cornell University
Downloads 38 (811,038)

Abstract:

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20.

Competition, Agglomeration, and Tenant Composition in Shopping Malls

Leung, D., Liu, P., & Zhou, T. (2023). Competition, agglomeration, and tenant composition in shopping malls. Real Estate Economics, 00, 1–25. https://doi.org/10.1111/1540-6229.12442
Number of pages: 33 Posted: 02 Feb 2024
David Leung, Peng Liu and Tingyu Zhou
National Taiwan University, Cornell University and Florida State University
Downloads 24 (931,603)

Abstract:

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Agglomeration and Competition, Anchor Stores, Tenant Composition, Rents, Shopping Malls, Retail

21.

Social Network Learning Efficiency in the Principal–Agent Relationship

Number of pages: 41 Posted: 15 Sep 2023
Chuan Ding, Yilin Hong, Yang Li and Peng Liu
School of Economic Mathematics, Southwestern University of Finance and Economics, Southwestern University of Finance and Economics and Cornell University
Downloads 15 (1,024,209)

Abstract:

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Simulation, Social network learning, Principal-agent, Reaching consensus, Learning efficiency

22.

The Economics of Commercial Real Estate Preleasing

Journal of Real Estate Finance and Economics, Vol. 53, No. 2, 2016
Posted: 23 Jun 2016
Robert H. Edelstein and Peng Liu
University of California, Berkeley - Fisher Center for Real Estate and Urban Economics and Cornell University

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Prelease, Rental price risk; Leasing, Commercial real estate, Capitalization rate

23.

A Direct Test of the Free Cash Flow Hypothesis: Evidence from Real Estate Transactions

Journal of Real Estate Finance and Economics, Vol. 52, No. 4, 2016
Posted: 15 Apr 2016
Yongqiang Chu and Peng Liu
Belk College of Business, UNC Charlotte and Cornell University

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Free Cash Flow Hypothesis; Real Estate Transactions; Corporate Governance

24.

Is California More Energy Efficient than the Rest of the Nation? Evidence from Commercial Real Estate

USC-INET Research Paper No. 16-08
Posted: 23 Mar 2016
Matthew E. Kahn, Nils Kok and Peng Liu
University of Southern California, School of Business and Economics, Maastricht University and Cornell University

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Energy Efficiency, Durable Capital, Hotels, and Carbon Mitigation

25.

The Market for Real Estate Presales: A Theoretical Approach

Journal of Real Estate Finance and Economics, Vol. 45, No. 1, 2012
Posted: 26 Jun 2012
University of California, Berkeley - Fisher Center for Real Estate and Urban Economics, Cornell University and Citadel LLC

Abstract:

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Presale, Hedge real estate risks, Housing, Heterogeneous beliefs

26.

The Relationship between Tenant Quality and REIT Risk & Performance

46th Annual AREUEA Conference Paper
Posted: 01 Dec 2010
Crocker H. Liu and Peng Liu
Arizona State University and Cornell University

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