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Top real estate expert joins W. P. Carey School


July 28, 2006

ASU's W. P. Carey School of Business has announced that one of the top-ranked real estate finance faculty in the country will join the school.

Crocker H. Liu, the single most cited author on the subject of real estate finance investments, has been named a professor of finance and the McCord Chair of Real Estate. Before joining the W. P. Carey School, Liu was an associate professor of finance and real estate at New York University's Stern School of Business.

Liu will be the founding director of the new MBA – Real Estate Program to be offered this year as part of the nationally ranked W. P. Carey School MBA program. The new MBA is part of a broader university real estate initiative that will position ASU as a world leader in real estate knowledge creation, education delivery and practitioner involvement.

“We are thrilled to have Dr. Liu join the W. P. Carey School as the McCord Chair of Real Estate, and to have his leadership,” says Robert Mittelstaedt, the school's dean. “He is an outstanding teacher with a distinguished academic record.”

The McCord Chair that allowed ASU to attract Liu was financed by a recent $2 million gift to the W. P. Carey School from Phoenix residents Robert and Sharon McCord. It is part of a new university real estate initiative that includes degree programs in the W. P. Carey School of Business, the College of Design and the College of Law.

Before joining the Stern School in 1988, Liu received his degrees and taught and did research at the University of Texas, the University of Wisconsin and the University of Hawaii.

Liu's research interests are focused on issues in real estate finance, particularly topics related to agency, organizational forms, market efficiency and valuation. He has published extensively in real estate, finance and economic journals, and other scholarly publications, including the Review of Financial Studies, the Journal of Financial Economics, the Journal of Business, the Journal of Financial and Quantitative Analysis, the Real Estate Economics Journal and the Journal of Real Estate Finance and Economics.

He has chaired and made presentations on real estate and finance at scores of academic meetings and symposia. He is a frequent chairman, presenter and discussant at the American Real Estate and Urban Economics Association sessions, covering a wide spectrum of real estate and finance-related topics.

Liu's work has been widely recognized. He won the AREUEA doctoral dissertation award, a postdoctoral award from the Homer Hoyt's Weimer School of Advanced Studies in Real Estate and Land Economics, two Best Research Paper Awards from the American Real Estate and Urban Economics Association, and the Wiley Award for Best Paper in the Journal of Real Estate Research.

While at NYU, he twice was named Undergraduate Teacher of the Year and Executive MBA in Finance Teacher of the Year. In 1999, he became a Distinguished Teaching Fellow.

Liu earned a bachelor's degree of business administration in real estate from the University of Hawaii, a master's degree in real estate from the University of Wisconsin, and a doctorate in finance and real estate from the University of Texas. He is a native of Hawaii.