國立成功大學 會計學系暨財務金融研究所

• 台大國際企業所財工組博士
• 台大資訊工程碩士
• 交大資訊科學學士

• 成大會計系教授
• 成大會計系副教授
• 成大會計系助理教授
• 成大財務處理財組組長
• 台灣財務工程協會監事 2015.7-訖今
• 精湛光學科技獨立董事104.11-106.2
• 成大投資諮詢委員
• 成大會計文教基金會執行長
• 成大財務處副財務長
• 成大財務處財務長107.2-115.1

[1] Liu, Y. H., Jiang, I. Ming, Hung, Mao Wei /2025. 10/Pricing Vulnerable Options When Debts Have Performance-sensitivity Provisions/ International Review of Economics & Finance (2024 Impact Factor = 5.6, Business Finance Rank = 22/241, Q1, SSCI) (國科會財務領域 “A -“ 級國際期, SSCI)/103/104484/ NETHERLANDS/0 本人為第一作者

[2] Tang-Lin Hwang and Liu, Y. H., How ESG Engagement Shapes Firm Life Cycle Progression: Evidence from U.S. data, Finance Research Letters, 107589 (國科會財務領域“A-“ 級國際期, SSCI).

[3] Liu, Yu Hong, Jiang, I. Ming, Hung, Mao Wei, Hou, Kuan-Miao/2025. 5(已接受)/ Optimizing Investment Strategies: Unraveling the Interplay of Managerial Discretion, Debt Constraints, and Growth Uncertainty/Review of Quantitative Finance and Accounting (國科會財務領域 “A tier-2“ 級國際期, ESCI)/64/1–34/U

[4] Liu, Y. H. and Hwang, T. L., An investment strategy with the residual income valuation model and business cycles: Empirical results from Taiwan stock markets, Asia Pacific Management Review, 30(3), 100366 (TSSCI).

[5] Liu, Y.-H. and Jiang, I. –M, and Hung, M.-W., Optimal Timing and Proportion in Two Stages Learning Investment, Review of Quantitative Finance and Accounting, 64(3), 1001-1027. (國科會財務領域 “A tier-2“ 級國際期刊).

[6] Liu, Y.-H. and Jiang, I. –M, and Huang, Hung-Chieh, Managerial Discretion and Debt Financing Under Information Uncertainty, The Financial Review, forthcoming. (國科會財務領域 “A tier-2“ 級國際期刊).

[7] Jiang, I. –M., Liu, Y. H. Pakavaleetorn, S. (2022, Aug). Optimal Sequential Investment Decision-Making with Jump Risk. Asia-Pacific Journal of Operational Research, Vol 39 No 4 , 1-19. . (SCI).

[8] Hung Jui-Cheng, Yu-Hong Liu , I-Ming Jiang , Shuh Liang (2020, Apr). Price Discovery and Trading Activity in Taiwan Stock and Futures Markets. Emerging Markets Finance and Trade , Vol. 56, pp. 963-976. (SSCI, 106/121,Business). 2021 Impact Factor = 4.859, Business Rank = 79/154, SSCI)

[9] Liu, Y.-H. and Jiang, I. –M (2019, Apr). Optimal Proportion Decision-making for Two Stages Investment. North American Journal of Economics and Finance 2017 Impact Factor = 1.098, Business Finance Rank = 58/98, SSCI) (MOST 103-2410-H-006 -034 -), Vol. 48, 776-785.. (SSCI, Business Finance Rank = 58/98). 本人為第一作者.

[10] Liu, Y.-H., Jiang, I. –M and Meng-I Tsai (2019, Apr). Influence of Managers' Subjective Judgments on Project Abandonment Decision-Making. International Journal of Information Technology & Decision Making, Vol. 18(2), pp. 419-443. (SCI, Operations Research & Management Science Rank = 37/83). 本人為第一 作者、通訊作者.

[11] Alan T. Wang, Yuhong Liu *, Yu-Chen Chang (2018, Dec). An analysis of gains to US acquiring REIT shareholders in domestic and cross-border mergers before and after the subprime mortgage crisis. Sustainability, 10(12), 4586, 1-13. (SSCI, Environmental Studies Rank=51/109). 本人為通訊作者. https://www.mdpi.com/2071-1050/10/12/4586.

[12] Liu, Y.-H., Jiang, I. –M and Meng-I Tsai, 2018, Influence of Managers' Subjective Judgments on Project Abandonment Decision-Making, International Journal of Information Technology & Decision Making, Vol 14, No. 1. 93-113 (2019 Impact Factor = 1.894, Operations Research & Management Science Rank = 40/83, SCI).

[13] Liu, Y.-H., Jiang, I. –M and Wei-tze Hsu, 2018, “Compound Option Pricing under a Double Exponential Jump-Diffusion Model”, North American Journal of Economics and Finance 2017 Impact Factor = 1.098, Business Finance Rank = 58/98, SSCI) (NSC982410-H-006-022), Vol. 43, 30-53.

[14] Liu, Y.-H., Jiang, I. –M and Li-chun Chen, 2018, Valuation of n-fold Compound Barrier Options with Stochastic Interest Rate, Asia Pacific Management Review. 23(3), 169-185. (TSSCI).

[15] Liu, Y.-H., Jiang, I. –M and Meng-I Tsai, 2017, Making Capital Budgeting Decisions for Project Abandonment by Fuzzy Approach. Lecture Notes in Computer Science, Vol. 10386, 277-284. (EI).

[16] Liu, Y.-H., Yu-Chen Lin, Ya-hsin Hung, 2016, Currency Option Pricing under Stochastic Interest Rates and Extended Normal Distribution, Universal Journal of Accounting and Finance, Vol. 4. No. 5, 137-156. (Econlit, JEL)

[17] Liu, Y.-H., Jiang, I. –M and, Ying-Ming Yen, 2016, A Real Options Approach to the Valuation of Switch Benefits Between Manual Toll Collection and ETC for Freeways, Advances in Financial Planning and Forecasting, Vol. 7, 317-342 (ABI).

[18] Feng, Z.-Y., Johnson T. S. Cheng, Y.- H. Liu and I.-M. Jiang (2015), Option Pricing with Time Changed Lévy Processes under Imprecise Information, Fuzzy Optimization and Decision Making, Vol 14, No. 1. 97-119 (2015 Impact Factor = 2.569, Operations Research & Management Science Rank = 11/82, SCI).

[19] Cheng, T. S., I.-M. Jiang and Y.- H. Liu (2015), Technological Innovation, Product Life Cycle and Market Power: A Real Options Approach, International Journal of Information Technology & Decision Making, Vol 14, No. 1. 93-113 (2015 Impact Factor = 1.183, Operations Research & Management Science Rank = 44/82, SCI).

[20] Liu Y. H. ,I. M. Jiang and Z. Y. Feng (2014). Pricing Contingent Claims using the Heath-Jarrow-Morton Term Structure Model and Time-Changed Levy Processes . Asia Pacific Management Review. Vol 18, No. 4. 273-298. (TSSCI).

[21] Chen J. -L., K.-C. Ho, Y.-H. Liu, P.-H. Huang, 2013. “Does Neighbor Fire Cause More Danger?”, Journal of Accounting, Finance & Management Strategy, Vol. 8, No. 2. 33-44. (ABI)

[22] Jiang, I. -M., S.-Y. Yang, Y.-H. Liu, Alan T. Wang, 2013, “Valuation of Double Trigger Catastrophe Options with Counterparty Risk”, North American Journal of Economics and Finance 2013 Impact Factor = 1.5, Business Finance Rank = 16/89, SSCI) (NSC982410-H-006-022), Vol. 25, 226-242.

[23] Liu Y. H., I. M. Jiang, M. L. Wang and Z. Y. Feng, 2012, “Defaultable Options under Imprecise Information”, Review of Securities and Futures Markets, Vol 24, No. 4. (財務類 TSSCI期刊與國科會評選優良財務類期刊).

[24] Liu Y. H. and I. M. Jiang, 2012, “Influence of Investor Subjective Judgments in Investment Decision-Making”, International Review of Economics and Finance Impact Factor = 0.927, Business Finance Rank = 39/86; 1st and Corresponding Author, SSCI). (國科會財務領域A-級國際期刊). Vol. 24, 129-142.

[25] Jiang I. M., Y. H. Liu, Z. Y. Feng, M. K. Lai, 2012, “Pricing and Hedging Strategy for Options with Default and Liquidity Risk”, Asia Pacific Management Review. Vol 17, No. 2, 127-144. (TSSCI).

[26] Liu Y. H., 2011, “Valuation of R and D Projects”, Asia Pacific Management Review, Vol 16, No. 3.,287-302. (TSSCI).

[27] Liu Y.H., I. M. Jiang, S. C. Lee and Y. T. Chen, 2011, “The Valuation of Reset Options when Underlying Assets are Autocorrelated”, International Journal of Business and Finance Research, Vol. 5, No. 2, 95-114. (Econlit, JEL).

[28] Liu Y. H. and I. M. Jiang 2010, “Vulnerable Option Pricing under Heterogeneity and Its Applications in Taiwan Warrant Market”, International Journal of Fuzzy Systems. (2010 Impact Factor = 1.362, Automation & Control Systems Rank = 22/60; Computer Science, Artificial Intelligence Rank=54/108; 1st and Corresponding Author, SCI, EI) Vol.12, No. 3,

[29] Liu Y. H., 2010, “Valuation of Compound Options When Its Underlying Asset Is Non-traded”, International Journal of Theoretical and Applied Finance (國科會 “B“ 級財務領域國際期刊). Vol. 13 (3), 1-18. (FLI)

[30] Lee, S. C., I. M. Jiang, and Liu Y.H., 2010,“Testing the Ohlson Model-Fractional Cointegration Approach”, International Research Journal of Finance and Economics, Issue 55, 36-44. (Econlit, JEL，此期刊已被列為SSCI觀察名單).

[31] Liu Y.H., 2009, “Pricing Fuzzy Vulnerable Options and Risk Management”, Expert Systems with Applications (2009 Impact Factor = 2.908, OPERATIONS RESEARCH MANAGEMENT SCIENCE Rank = 3/73; Singled-Author), Vol. 32 (10), 12188-12199.(SCI).

[32] Wang, M. L., Y. H. Liu, and Y. L. Hsiao, 2009, “Barrier Option Pricing: A Hybrid Method Approach”, Quantitative Finance ( 2008 Impact Factor = 0.892, Business Finance Rank = 22/48; 2nd-Author, 國科會 A- 級期刊).Vol 9, No. 3, 341-352. (SSCI)

[33] Liu, Y. H., M. W. Hung, I. M. Jiang and C. H. Kuei, 2008, “A Recursive Evaluation Approach to Price Catastrophe Derivatives”, Asian Pacific Journal of Financial Studies (2008 Impact Factor =0.136, Business Finance Rank = 47/48; 2010 Impact Factor = 0.410, Business Finance Rank = 60/74;1nd and Corresponding Author, 國科會 B+ 級SSCI 期刊), Vol 37, No. 4, 569-598..

[34] Chang S. L., M. W. Hung and Y.H. Liu, 2007, “Contributions to International Finance Journals by Taiwanese Universities and Colleges”, Review of Securities and Futures Markets, Vol 19, No. 3, 1-22. (財務類TSSCI期刊與國科會評選優良財務類期刊).

[35] Hung M.W. and Y.H. Liu, 2006, “Valuation of Weather Derivatives”, Journal of Financial Studies, Vol. 14 No. 1. 73-106. (財務類TSSCI期刊與國科會評選前三名財務類期刊).

[36] Hung M.W. and Y.H. Liu, 2005, “Pricing Vulnerable Options in Incomplete Markets”, Journal of Futures Markets (國科會 “A“ 級財務領域國際期刊, 2008 Impact Factor = 0.571, Business Finance Rank = 37/48; 2nd-Author, 最新Australian Business Dean Council ABDC Journal List 列為 A 級期刊), Vol 25, No. 2, 135-170. (SSCI).

[37] Chung, C. F., M.W. Hung and Y.H. Liu, 2003, “Long Memory in Currency Futures Volatility”, Research in Finance (國科會 “B+ “ 級財務領域國際期刊),Vol 20, 139-158.(FLI).

[1] Yu-Hong Liu, 2025, The Behavioral Relationship between Managers and Shareholders in Firms with Learning Ability, 2025, 26th Asia Pacific Management Conference, Ho Chi Minh City, Vietnam. (3-Round Revision in Asia-Pacific Journal of Operational Research, SCI)

[2] Yu-Hong Liu and I-Ming Jiang, 2024, Decisions, Managerial Discretion, and Debt-Financing Constraints with Uncertain Growth Opportunities, 2024 30th International Conference Computing in Economics and Finance (30th CEF Conference 2024), Nanyang Technological University in Singapore. (已發表在Review of Quantitative Finance and Accounting).

[3] Yu-Hong Liu and Sutee Pakavaleetorn, 2024, Real Options, Managerial Discretion and Debt-financing Constraints with Meaningreverting Revenues,2024 Innovation in Global Business, Marketing, Social Sciences & Economics, Osaka, Japan.

[4] Yu-Hong Liu and I-Ming Jiang , 2023, Managerial Compensation, Investment Decision Making with Technological Innovation, 2023 International Conference on Innovation and Management, Sapporo,Japan.(已發表在Financial Review)

[5] Yu-Hong Liu, 2020, Pricing Vulnerable Asian Options with Correlated Credit Risk under Jump-Diffusion Process, 2020, International Conference on “Business, Economics, Social Science

& Humanities”, AFA Research 2020, Osaka, Japan.

[6] Yu-Hong Liu, I-Ming Jiang, 2018, The Two-Stage Optimal Investment Strategy In Taiwan Real Estate Market , 2018 International Symposium on Economics and Social Science-Summer Session (ISESS-Summer 2018), Waseda University, Tokyo, Japan.

[7] Yu-Hong Liu, Sutee Pakavaleetorn, 2018, Optimal Proportion  Decision-making of Two-stage Investment with Jump Risk,International Conference on Economics and Finance Research,FrankFurt, Germany. (The related contents of the paper have been published in North American Journal of Economics and Finance 2017.Impact Factor = 1.098, Business Finance Rank = 58/98, SSCI) (MOST 103-2410-H-006 -034 -), Vol. 43, 30-53. )

[8] Yu-Hong Liu, I-Ming Jiang and Meng-I Tsai,, 2017, Making Capital Budgeting Decisions for Project Abandonment by Fuzzy Approach, The 8^th International Conference on Swarm Intelligence (ICSI’2017).

[9] Liu, Yu-hong , I-ming Jiang, Ming-Shu, Huang, 2017, Valuation of Contingent Pension Liabilities with Stochastic Interest Rate and General Default Model, Annual Cairo Business Research Conference.

[10] Liu Yu-Hong, I-ming Jiang and Shih-Cheng Lee, 2016, “Real Estate Presale Contracts Pricing under Liquidity Risk",The 18^th Asia Pacific Management Conference, Sendai, Japan.

[11] Liu, Yu-Hong , 2016, Compound Option Pricing under a Double Exponential Jump-Diffusion Model, International Business Research, Economics, Finance and MIS Conference (BREFM 2016).

[12] Liu Yu-Hong, 2016, Valuation of n-fold Compound Barrier Options with Stochastic, 2016 International Academic Business Conference, Washington,United States.

[13] Liu Yu-Hong, 2015, Compound Option Pricing under a Double Exponential Jump-Diffusion Model, Multidisciplinary Conference, Vienna, Austria.

[14] Liu Yu-hong, I-Ming Jiang and Johnson T. S. Cheng, 2014, “Human Resource Management and Real Options:An Empirical Evidence of MLB, The 16th Asia Pacific Management   Conference, Kobe, Japan.

[15] Liu Yu-hong, 2014, “Optimal Timing and Proportion Investment with Learning-curve Technologies of Two Stages Investment”, Multidisciplinary Conference, Venice, Italy.

[16] Liu Yu-hong, 2013, “Valuation of Vulnerable Option as Trading Counterparty's Credit Quality is Autocorrelated”, Multidisciplinary Conference, Paris, France.

[17] Liu Yu-hong, 2012, “Pricing Convertible Bond with Multiple Reset Clauses”, Western Economic Association International 87th Annual Conference, San Francisco, U. S. A.

[18] Y. H. Liu and Z. Y. Feng, 2011, “Analytical Upper Bounds for American Exotic Currency Options with a Stochastic Skew Model”, 9th Annual International Conference on Finance, Athens, Greece.

[19] Y. H. Liu and Z. Y. Feng, 2011, “A Simple Formula for European Option under Time-Changed Lévy Processes with Imprecise Market Information”, 9th Annual International Conference on Finance, Athens, Greece.

[20] Y.H. Liu, 2010, “Pricing Catastrophe Options with Counterparty Risk”, The 13th Cross-Strait Chinese Culture and Business Management Conference, Sun Yat-sen University, GuangZhou, China.

[21] Y.H. Liu, 2010, “Valuation of Fuzzy Vulnerable Options and Risk Management”, The 16^th International Conference on Computing in Economics and Finance, London City University, London, UK.

[22] Y. H. Liu and Z. Y. Feng, 2009, “Analytical Upper Bounds for American Option Prices with Time-Changed Lévy Processes”, NSYSU, the 17th Conference on Theories and Practices of Securities and Financial Markets, Kaohsiung, Taiwan.

[23] Y. H. Liu and Z. Y. Feng, 2009, “Analytical Upper Bounds for American Option Prices with Time-Changed Lévy Processes”, NCKU, Accounting Theory and Practice Conference, Tainan, Taiwan.

[24] Y.H. Liu, 2009, “Valuation of Compound Options When Its Underlying Asset Is Non-traded”,The, 12th Cross-Strait Chinese Culture and Business Management Conference, Zhejiang University, China.

[25] Liu Y. H., I. M. Jiang and M. K. Lai, 2008, “Non-identically Rational Option Pricing and Its Applications”, the 16th National Conference on Fuzzy Theories and Its Applications, Chung-Li, Taiwan. (Best Paper Award in Financial Field).

[26] Wang, M. L. and Y. H. Liu, 2006, “Barrier Option Pricing: A Hybrid Method Approach”, NSYSU, the 14th Conference on Theories and Practices of Securities and Financial Markets, Kaohsiung, Taiwan.

[27] Hung M.W. and Y.H. Liu, 2005, “Valuation of Weather Derivatives”, NCKU, Conference on Finance, Tainan, Taiwan.