Degrees

• Ph.D. California Institute of Technology

About

Dr. Lien is a world-renowned researcher who has published more than 250 papers in academic journals in the fields of economics, finance and statistics. He earned his Ph.D. from the California Institute of Technology. Dr. Lien is currently the Richard S. Liu Distinguished Chair in Business at UTSA.

Dr. Lien’s primary field of interest is in the futures market with supporting areas in econometrics and development economics. He has served as a reviewer for more than 50 academic journals and has twice received the President’s Distinguished Achievement Award in Research from UTSA. His teaching honors include the Kemper Fellowship for Teaching Excellence and the Excellence in Teaching Award from the University of Kansas.

Selected Publications

• “Subjective Well-Being and Income: A Reexamination of Satiation Using Regression Kink Model With an Unknown Threshold,” Journal of Applied Econometrics, Vol. 32, No. 2, 2017, pp. 463-469.
• “A Note on Using Ration Variables in Regression Analysis,” Economics Letters, Vol. 150, 2017, pp. 114-117.
• “The Effects of China’s Split-Share Reform on Firms’ Capital Structure Choice,” (with Liang Guo and Ya Dai), Applied Economics, Vol. 48, 2016, pp. 2530-2549.
• “Estimation of Market Information Shares: A Comparison,” Journal of Futures Markets, Vol. 36, No. 11, 2016, pp. 1108-1124
• “Effects of Passive Intensity on Aggregate Price Dynamics,” (with Sina Ehsani), Financial Review, Vol. 50, 2015, pp. 363-391.
• “Industry Herding and Momentum Strategies,” (with Riza Demirer and Huacheng Zhang), Pacific-Basin Finance Journal, Vol. 32, 2015, pp. 95-110
• “Optimal Managerial Hedging and Contracting with Self-Esteem Concerns,” International Review of Economics and Finance, Vol. 37, 2015, pp. 354-367.
• “Implied Volatility Dynamics Among Exchange Traded Funds and Their Largest Component Stocks,” with Timothy Krause, Journal of Derivatives, Vol. 22, 2014, pp. 7-26.
• “Democracy, Foreign Direct Investment and Natural Resources,” with Elizabeth Asiedu, Journal of International Economics, Vol. 84, 2011, pp. 99-111.
• “The Value of Planned Death,” with Leo Chan, Journal of Socio-Economics, Vol. 39, 2010, pp. 392-395.
• “A New Information Share Measure,” with Keshab Shrestha, Journal of Futures Markets, Vol. 29, 2009, pp. 377-395 .
• “International Accreditation and Brain Drain: A Simple Model,” Economics of Education Review, Vol. 25, 2006, pp. 335-340.
• “On Regression Analysis with Data Cleaning via Trimming, Winsorization and Dichotomization,” with N. Balakrishnan, Communications in Statistics-Simulation and Computation, Vol. 34, 2005, pp. 839-849.
• “Measuring the Effect of Sexual Orientation on Income: Evidence of Discrimination?” with Nathan Berg, Contemporary Economic Policy, Vol. 20, 2002, pp. 394-414.
• “The Effects of China’s Split-Share Reform on Firms’ Capital Structure Choice,” (with Liang Guo and Ya Dai), Applied Economics, Vol. 48, 2016, pp. 2530-2549.
• “Estimation of Market Information Shares: A Comparison,” Journal of Futures Markets, Vol. 36, No. 11, 2016, pp. 1108-1124
  Economic Analysis of Brain Drain,” Journal of Development Economics, Vol. 25, 1987, pp. 33-43.
• “A Note on Competitive Bribery Games,” Economics Letters, Vol. 22, 1986, pp. 337-341.
• “A Note on Taxation, Development, and Representative Government,” with Robert Bates, Politics and Society, Vol. 14, 1985, pp. 53-70.