Liu is also a faculty member at the Anderson School of Management at the University of California in Los Angeles. He is an authority on capital markets, equity valuation, and securities analysis.

Liu's research has been published in the Journal of Accounting Research and Accounting Review. His work has received the Eric E. Juline Research Award from the UCLA Anderson School and the Barclays Global Investors (BGI) Best Paper Award from the Review of Accounting Studies.

A member of the editorial board for the Review of Accounting Studies and the Journal of International Accounting Research, Liu is also an active contributor to the popular financial press and a consultant for numerous financial institutions in China and on Wall Street.

Liu's research has earned a number of awards, including the 2005 Eric E. Juline Research Award from the Anderson School and the 2007 Barclays Global Investors (BGI) Best Paper Award from the Review of Accounting Studies.

"On the Relation between Expected Returns and Implied Cost of Capital", with Hughes, John & Liu, Jun, Review of Accounting Studies, 2008.

"On the Relation between Expected Returns and Implied Cost of Capital," with John Hughes and Jun Liu, conditional acceptance at the Review of Accounting Studies, 2008.

"On the relation between predictable market returns and predictable analysts' forecast errors," with John Hughes and Wei Su, the Review of Accounting Studies, 2008. Winner of the BGI best paper award.

"Are executive stock option exercises driven by private information?" with David Aboody, John Hughes and Wei Su, the Review of Accounting Studies, 2008. 

"Information asymmetry, diversification and cost of capital," with John Hughes and Jun Liu, the Accounting Review, 2007.

"Cash flow is king? Comparing valuations based on cash flow versus earnings multiples,” with Jacob Thomas and Doron Nissim, the Financial Analyst Journal, 2007.

"On international accounting valuation," the Journal of International Accounting Research, 2006.
"Earnings quality, insider trading and cost of capital," with David Aboody and Jack Hughes, the Journal of Accounting Research, 2005.

"Discussion of ‘The role of changes in expectations in explaining the cross-section of returns.'" Review of Accounting Studies, September 2004.

"Valuation and Accounting for Inflation and Foreign Exchange," with John Hughes and Mingshan Zhang, Journal of Accounting Research, September 2004

“Measuring Value Relevance in a (possibly) Inefficient Market," with David Aboody and John Hughes, Journal of Accounting Research, September 2002.

"Equity Valuation Using Multiples," with Jacob Thomas and Doron Nissim, Journal of Accounting Research, March 2002.

“The Feltham-Ohlson (1995) Model: Empirical Implications," with James Ohlson, Journal of Accounting, Auditing and Finance, summer 2000.

"Stock Returns and Accounting Earnings," with Jacob Thomas, Journal of Accounting Research, spring 2000.