Mark Liu co-authored an article, "State of the Field: M&As and IPOs," for the Ewing Marion Kauffman Foundation. The article reviews recent academic research on Mergers & Acquisitions (M&As) and Initial Public Offerings (IPOs). The other two coauthors are Debarshi Nandy of Brandeis University and Jay Ritter of the University of Florida. The article can be seen here: http://www.kauffman.org/microsites/state-of-the-field/topics/firm-and-industry-dynamics/ma-and-ipos