Appraisal bias and default in commercial real estate
Liu, P., Singh, A., & O’Neill, J. W.
Peng (Peter) Liu
Professor of Real Estate and Finance
Singapore Tourism Board Distinguished Professor in Asian Hospitality Management
Nolan School of Hotel Administration · Cornell SC Johnson College of Business
About
Peng (Peter) Liu is Professor of Real Estate and Finance at Cornell’s Nolan School of Hotel Administration and an inaugural faculty member of the Rubacha Department of Real Estate. I study how financial markets value and finance real assets, from real estate and hotels to REITs, securitized debt, and commodities.
He directs the Cornell–Peking University MMH/MBA dual degree and serves as Faculty Research Director of the Cornell SC Johnson Center for Real Estate and Finance. His work focuses on how financial markets value and finance real assets.
- Real estate finance
- REITs
- Hotel asset markets
- CMBS & securitization
- Commodities
- Applied econometrics
Selected research
Recent work on the valuation, financing, and operation of real assets.
Hotel establishment performance and the brand network externality
Liu, P. & Feng, Z.
Real earnings management in REITs
Liu, P., Edelstein, B., & Tsang, D.
Professional property management and the performance of vacation rentals
Liu, P., Medeiros, M., & Hua, N.
The value of a brand: The case of hotels
Liu, P. & Sheinberg, J.
Culture and Tourism
Zhang, S., & Liu, P.
Teaching
Courses and programs at the intersection of finance, real estate, and hospitality.
Principles of Real Estate
An introduction to real estate markets, investment, and finance.
Real Estate Finance
Capital markets and financial decision-making for real assets.
Cornell–Peking University dual degree
Academic leadership for the joint hospitality and business program.