Projects per year
Personal profile
Biography
Professor Yin Liao is the Director of Research at the Department of Applied Finance and Co-director of Faculty Research Center on Nature Positive Finance and Business. She joined Macquarie University from July, 2019. Prior to that, she held positions at the Australian National University and Queensland University of Technology. She received a Master in Economics and a PhD in Financial Econometrics from the Australian National University.
Yin's main research interests include FinTech, Household Finance, Sustainable Finance, and Financial Econometrics. Her research publications have appeared in top-tier business, finance and economics journals, including Management Science, Journal of Financial and Quantitative Analysis, Journal of Business and Economic statistics, Journal of Development Economics, Journal of Banking and Finance, Journal of Economic Dynamics and Control, and Energy Economics, etc.
Yin has worked extensively in analysing personal and small businesses' big and unstructured data, has collaborated with many industry partners, such as banks (i.e., CBA, ICBC), brokerage houses (i.e., Futu) and FinTech firms (i.e., Prospa). She has secured competitive external research grants from 2 ARC Linkage Projects, 1 ARC Discovery Project, 1 Philanthropy Foundation project, and 6 MQ-industry Linkage projects. Currently Yin is leading a research group with 2 postdoc, 4 PhD students and 5 Mres students. She is an Associate Editor of PLOS One, and Guest Editor of the International Review of Financial Analysis.
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Collaborations and top research areas from the last five years
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LP23: Ethical Enterprise Representations for Personalised Sustainable Finance
Cao, L. (Primary Chief Investigator), Liao, Y. (Chief Investigator), Bu, D. (Chief Investigator), Mollica, V. (Chief Investigator) & Fan, X. (Chief Investigator)
1/07/25 → 30/06/28
Project: Research
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DP25: Consumer Data Privacy Risk Analysis and Management in the Open Banking Era
Smith, T. (Primary Chief Investigator), Liao, Y. (Chief Investigator), Bu, D. (Chief Investigator), Fernandes, N. (Chief Investigator), Selvadurai, N. (Chief Investigator) & Alvim, M. S. (Partner Investigator)
13/03/25 → 12/03/28
Project: Research
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2025 Global Economic Prosperity Challenge: Digital Finance for Climate Resilience in Pacific Island Nations
Bu, D. (Primary Chief Investigator), Liao, Y. (Chief Investigator), Han, J. (Chief Investigator) & Gao, M. (Chief Investigator)
1/07/25 → 1/07/26
Project: Research
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CFRP: Empowering Climate Resilience: A Sustainable Digital Finance Platform for Central Tablelands Communities
Bu, D. (Primary Chief Investigator), Liao, Y. (Chief Investigator), Han, J. (Chief Investigator) & Xue, R. (Chief Investigator)
1/07/24 → 30/06/25
Project: Research
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DFCRC Seed Grant Sustainable finance research brief 1: Impact premiums
Liao, Y. (Primary Chief Investigator), Bu, D. (Primary Chief Investigator) & Pan, T. (Primary Chief Investigator)
1/06/24 → 1/09/24
Project: Research
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Can Lending Hierarchies Balance Bias? The Role of Personal Environmental Values in Credit to Green Firms
Bu, D., Keloharju, M., Liao, Y. & Ongena, S., 5 Jan 2026, (E-pub ahead of print) In: Journal of Financial and Quantitative Analysis.Research output: Contribution to journal › Article › peer-review
Open Access -
Fueling the mind: How local gasoline prices shape household consumption
Bu, D., Liao, Y. & Zhang, M., 23 Jun 2026, (Accepted/In press) In: Journal of Economic Behavior and Organization.Research output: Contribution to journal › Article › peer-review
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Formal privacy analyses for Open Banking
Soares, L. D. C., Alvim, M. S., Bu, D., Fernandes, N. & Liao, Y., 2025, Formal Methods: foundations and applications : 27th Brazilian Symposium, SBMF 2024, Vitória, Brazil, December 4-6, 2024, proceedings. C. Nogueira, S. & Teodorov, C. (eds.). Cham: Springer, Springer Nature, p. 171-193 23 p. (Lecture Notes in Computer Science; vol. 15403).Research output: Chapter in Book/Report/Conference proceeding › Conference proceeding contribution › peer-review
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On the challenges of formal privacy models for open banking
Soares, L. D. C., Alvim, M. S., Bu, D., Fernandes, N. & Liao, Y., 2025, CADE 2025: Proceedings of the 11th International Conference on AI and the Digital Economy. Venice, Italy: The Institution of Engineering and Technology (IET), p. 104-108 5 p. (IET Conference Proceedings; vol. 2025, no. 42).Research output: Chapter in Book/Report/Conference proceeding › Conference proceeding contribution › peer-review
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Do commodity futures have a steering effect on the spot stock market in China? New evidence from volatility forecasting
Lu, F., Ma, F., Bouri, E. & Liao, Y., 1 Jul 2024, In: International Review of Financial Analysis. 94, p. 1-16 16 p., 103262.Research output: Contribution to journal › Article › peer-review
7 Link opens in a new tab Citations (Scopus)
Prizes
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2025 Vice-Chancellor's Awards for Excellence in Research Innovation, Partnership, and Entrepreneurship (Highly Commended))
Bu, D. (Recipient) & Liao, Y. (Recipient), 2025
Prize
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MQBS Staff Award for Research Excellence Partnership for Impact
Bu, D. (Recipient) & Liao, Y. (Recipient), 2025
Prize
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The Brattle Group FIRN Annual Conference Best Paper Award
Cheng, D. (Recipient), Ding, D. (Recipient), Liao, Y. (Recipient) & Pan, Z. (Recipient), Nov 2025
Prize
Activities
- 4 Organising a conference, workshop or event series
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Launch the Key Resutls of MQBS and Futu Joint Research Project “Educating Retail Investors for Impact Investing”
Bu, D. (Organiser) & Liao, Y. (Organiser)
19 Apr 2024Activity: Participating in or organising an event › Organising a conference, workshop or event series
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First winners announced for Moomoo and Macquarie University ESG investing research competition event
Bu, D. (Organiser) & Liao, Y. (Organiser)
6 Feb 2023Activity: Participating in or organising an event › Organising a conference, workshop or event series
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2023 Banking and Consumer Finance Forum
Bu, D. (Organiser) & Liao, Y. (Organiser)
7 Aug 2023Activity: Participating in or organising an event › Organising a conference, workshop or event series
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Macquarie Business School and Futu Partnership, Joint Project Launch Event
Bu, D. (Organiser) & Liao, Y. (Organiser)
10 Feb 2023Activity: Participating in or organising an event › Organising a conference, workshop or event series
Press/Media
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BP’s production cuts signal future energy crisis
12/07/24
1 item of Media coverage
Press/Media: Research
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Moomoo's Parent Company Futu Holdings Announces US$338.5 M in Revenues and US$147.9 M Non-GAAP Net Income for Q3 2023
23/11/23
1 Media contribution
Press/Media: Public Engagement Activities
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Moomoo's Parent Company Futu Holdings Announces US$338.5 M in Revenues and US$147.9 M Non-GAAP Net Income for Q3 2023
22/11/23
1 Media contribution
Press/Media: Research
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Level Up Your Finances With This New Socially Responsible Investment Movement Study
12/08/23
1 Media contribution
Press/Media: Research
Impacts
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Creating Sustainability-Oriented Fintech Lending Platforms in Australia
Bu, D. (Participant), Smith, T. (Participant), Linnenluecke, M. (Participant) & Liao, Y. (Participant)
Impact: Environment impacts
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Empowering Retail Investors for a Greener Future: The Pivotal Role of Environmental Literacy Education in Sustainable Investing
Bu, D. (Participant), Liao, Y. (Participant), Smith, T. (Participant), Mollica, V. (Participant), Cai, C. (Participant) & Singh, A. (Participant)
Impact: Environment impacts, Policy impacts, Economy impacts
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From Knowledge to Action: Boosting Sustainable Investments with Financial Literacy and ESG Disclosure
Bu, D. (Participant), Liao, Y. (Participant), Mollica, V. (Participant), Smith, T. (Participant), Cai, C. (Participant) & Singh, A. (Participant)
Impact: Society impacts