University of Macau, Faculty of Business Administration
Prof. Minghua LIU (劉明華)2018-10-22T12:51:36+00:00

Prof. Minghua LIU

Associate Professor in Finance

Faculty of Business Administration
University of Macau, E22
Avenida da Universidade, Taipa, Macau, China

Contact Information

Room: E22-4073
Telephone: (853) 8822-4707
E-mail: mhliu
  • PhD in Economics, University of Wales, Bangor, UK
  • FRM in (Financial Risk Management), GARP, USA
  • Associate Professor of Finance, Faculty of Business, Auckland University of Technology, New Zealand
  • Assistant/Associate Professor, Nanyang Business School, Nanyang Technological University, Singapore
  • Assistant Vice President, Asset/Liability Management, DBS Bank, Singapore
  • Lecturer (British system), Nanyang Business School, Nanyang Technological University, Singapore
  • Undergraduate Courses
    • Bank Management (FINC433)
    • Derivative Securities (FINC302)
    • Financial Markets and Institutions (FINC363)
    • Fixed Income Securities (FINC483)
    • Financial Management I (FINC300)
    • Financial Management II (FINC301)
  • Postgraduate Courses
    • Commercial Bank Management (FINC726)
    • Financial Risk Management (FINC735)
  • Banking, Chinese financial markets
  1. “The global financial crisis and the export-led economic growth in China”, Ming-Hua Liu, Dimitris Margaritis and Yang Zhang, Chinese Economy, forthcoming.
  2. “Bank consolidation and interest rate pass through: Evidence from Singapore and Malaysia”, Jingya Li and Ming-Hua Liu, Journal of Financial Studies, forthcoming.
  3. “The impact of deposit insurance on the risks and returns of commercial banks: Evidence from China”, Ming-Hua Liu, Yang Zhang and Kaimeng Zheng, Journal of Financial Studies, forthcoming.
  4. “The Global Financial Crisis and retail interest rate pass-through in Australia”, Ming-Hua Liu, Dimitris Margaritis and Zhuo Qiao, Review of Pacific Basin Financial Markets and Policies 19 (4), 2016, pp. 1 – 32.
  5. “The Global Financial Crisis and Stock Market Reaction to Bank Loan Announcements”, Ming-Hua Liu and Cherrie Chen Xu, Frontiers of Business Research in China 10 (2), 2016, pp. 176– 219.
  6. “Competition and Petrol Pricing in the Smartphone Era: Evidence from Singapore”, Ming-Hua Liu, Dimitris Margaritis and Yang Zhang, Economic Modelling 53, 2016, pp. 144 – 155.
  7. “Inflation transmission in Greater China”, Ming-Hua Liu, Dimitris Margaritis and Yang Zhang, China and World Economy 23, 2015, pp. 79 – 99.
  8. “Inflation, Monetary Policy and Reserve Requirement Ratio Adjustments in China”, Ming-Hua Liu and Dimitris Margaritis, Froniters of Business Research in China 8, 2014, pp. 137-153.
  9. “Effective derivative hedging and initial public offering long-run performance”, Hoa Nguyen and Ming-Hua Liu, Accounting & Finance 54, 2014, pp. 1263-1294.
  10. “Market-driven coal prices and state-administered electricity prices in China”, Ming-Hua Liu, Dimitris Margaritis and Yang Zhang, Energy Economics 40, 2013, pp. 167-175.
  11. “Do Chinese retail option tradersknow anything about market volatility?” Ming-Hua Liu and Nanda K. Rangan. Frontier of Business Research in China 6, 2012, pp. 508-526.
  12. “Deposit rate pass-through and competition: Evidence of Macao”, Ming-Hua Liu and Mila Wang, Macao Monetary Research Bulletin 22, 2012, pp. 83-109.
  13. “Risk appetite, carry trade and exchange rates”, Ming-Hua Liu, Dimitri Margaritis, and Alireza Tourani-Rad, Global Finance Journal 23, 2012, pp. 48 – 63.
  14. “Asymmetric information and price competition in small business lending”, Ming-Hua Liu, Dimitri Margaritis, and Alireza Tourani-Rad, Journal of Banking and Finance 35, 2011, pp. 2189-2196.
  15. “Is there an asymmetry in the response of diesel and petrol prices to crude oil price changes? Evidence from New Zealand”, Ming-Hua Liu, Dimitri Margaritis, and Alireza Tourani-Rad, Energy Economics 32, 2010, pp. 926-932.
  16. “Monetary policy and rigidity of interest rates in China”, Ming-Hua Liu, Dimitri Margaritis, and Alireza Tourani-Rad, Applied Financial Economics 19, 2009, pp. 647-657.
  17. “Islamic Banking: interest-free or interest based?”, Beng Soon Chong and Ming-Hua Liu, Pacific Basin Finance Journal 17, 2009, pp. 125-144.
  18. “Monetary policy transparency and pass-through of retail interest rates”, Ming-Hua Liu, Dimitri Margaritis and Alireza Tourani-Rad, Journal of Banking and Finance 32 (2008), pp. 501-511
  19. “Analysis of the long-term relationship between macroeconomic variables and the Chinese stock market using heteroscedastic cointegration”, Keshab. M. Shrestha and Ming-Hua Liu, Managerial Finance 34, 2008, pp.744-755
  20. “Mean reversion of profitability: Evidence from the European listed firms”, Yener Altunbas, Antonis Karagiannis, Ming-Hua Liu and Alireza Tourani-Rad, Managerial Finance 34, 2008, pp. 799-815.
  21. “Do retail options traders know better about market volatility?”, Cheny Chen, Ming-Hua Liu, Hoa Nguyen, American Journal of Finance and Accounting 1, 2008, pp. 1-19.
  22. “Share repurchases in New Zealand”, H. Koerniadi, Ming-Hua Liu and A. Tourani-Rad, Advances in Financial Economics12, 2007, 481- 498.
  23. “The wealth effect of forced bank mergers and cronyism”, Beng Soon Chong, Ming-Hua Liu and Kok Hui Tan, Journal of Banking and Finance 30, 2006, pp. 3215 – 3233.
  24. “Monetary transmission via the administered rates channel”, Beng Soon Chong, Ming-Hua Liu and K. Shrestha, Journal of Banking and Finance 30, 2006, 1467-1484.
  25. “Contrarian and momentum strategies in the China stock market: 1993-2000”, Joseph Kang, Ming-Hua Liu and Sophie X. Ni, Pacific Basin Finance Journal 10, 2002, pp. 243-265. (This paper won the best paper award at the 13th PACAP/FAM Annual Finance Conference, Seoul, Korea, July 2001.)
  26. “Risk and Efficiency in Japanese Banking”, Y. Altunbas, Ming-Hua Liu, P. Molyneux and R. Seth, Journal of Banking and Finance 24, 2000, pp. 1605-1628
  27. “Valuation of Singapore Corporate Bonds and Implications”, Joseph. Kang, Kah Hwa Ng, and Ming-Hua Liu, Advances in Pacific Basin Financial Markets 4, 1998, pp. 357-376.
  28. “Liberalization of Financial Markets: Singapore is almost there”, Ashish Lall and Ming-Hua Liu, Law and Policy in International Business 28, 1997, No. 2. pp. 619-647.
  29. “The Cost Structure of Philippines Banks”, Ming Hua Liu, Kah Hwa Ng, and Nanda K. Rangan. Advances in Pacific Business, Economics and Finance 2, 1996. pp. 109-120.
  30. “Operating Efficiency of Malaysian Banks”, Ming Hua Liu, Nanda K. Rangan, and Kah Hwa Ng. Advances in Pacific Basin Financial Markets 1, 1995, pp. 277-286.
  31. “The Impact of Universal Banking on the Risks and Returns of Japanese Financial Institutions”, Beng soon Chong, Ming-Hua Liu, and Yener Altunbas, Pacific Basin Finance Journal 4, 1996, pp. 181-195. (This paper won the Chicago Board Options Exchange Award at the 7th Annual PACAP Finance Conference in July 1995).
  32. “Budget Participation and Satisfaction: the Influence of Managerial Interaction and Uncertainty”, J. J. Williams and Ming Hua Liu. Accountancy and Business Review 2, 1995, pp. 85-110.