Liu's research focuses on the interaction between the financial market and the real economy, with a broad interest in the valuations of real assets such as commercial real estate and commodities. Additionally, he explores topics related to hospitality management, securitization, and REITs, as well as market analysis in various industries including retail, airline, hotel, and recreational sectors. Liu has an impressive publication record in esteemed journals, including the Review of Financial Studies, Management Science, Real Estate Economics, Journal of Real Estate Finance and Economics, Journal of Banking and Finance, Journal of Empirical Finance, Tourism Management, and International Journal of Hospitality Management, among others.