• HOU, Kewei

    Visiting Professor

  • Email:

    kwhou@saif.sjtu.edu.cn

  • 　　

    　　

  • Support Staff:

    Lucia Tong

  • Support Staff Email:

    ytong2@saif.sjtu.edu.cn

  • Research Interests

    Asset Pricing, Market Efficiency, Behavioral Finance, Empirical Corporate Finance, Capital Markets Research in Accounting

Kewei Hou is a Visiting Professor at Shanghai Advanced Institute of Finance (SAIF), and the Ric Dillon Endowed Professor in Investments at Fisher College of Business, The Ohio State University.

Professor Hou's research interests are in the area of asset pricing, market efficiency, behavioral finance, empirical corporate finance and capital markets research in accounting. He has published in the Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Accounting and Economics, Review of Finance, Journal of Financial and Quantitative Analysis, and Management Science.

Professor Hou is an Editor of the Journal of Empirical Finance, Associate Editor of the Journal of Banking and Finance and Asia-Pacific Journal of Financial Studies, Faculty Research Fellow of the Charles A. Dice Center for Research in Financial Economics and China Academy of Financial Research (CAFR). He is also the recipient of research grants from the Institute for Quantitative Research in Finance (Q-Group), INQUIRE-Europe, INQUIRE-UK, BSI GAMMA Foundation, Chicago Quantitative Alliance, and Research Grants Council (RGC) of Hong Kong.

Professor Hou received his B.S. in Electrical Engineering from the University of Science and Technology of China (USTC) and his Ph.D. in Finance from the University of Chicago Booth School of Business. 


Journal Publications

1. Bao, Jack, Kewei Hou, and Shaojun Zhang, 2023, Systematic Default and Return Predictability in the Stock and Bond Markets, Journal of Financial Economics.

3. Kewei Hou, Haitao Mo, Chen Xue, and Lu Zhang, 2022, The Economics of Security Analysis, Management Science.

2. Bartram, Söhnke M, Kewei Hou, and Sehoon Kim, 2022, Real effects of climate policy: Financial constraints and spillovers, Journal of Financial Economics.

5. Hou, Kewei, Haitao Mo, Chen Xue, and Lu Zhang, 2021, An Augmented q-factor Model with Expected Growth, Review of Finance.

4. Hou, Kewei, Po-Hsuan Hsu, Shiheng Wang, Akiko Watanabe, and Yan Xu, 2021, Corporate R&D and Stock Returns: International Evidence, Journal of Financial and Quantitative Analysis.

6. Hou, Kewei, Chen Xue, and Lu Zhang, 2020, Replicating Anomalies, Review of Financial Studies.

9. Hou, Kewei, Haitao Mo, Chen Xue, and Lu Zhang, 2019, Which Factors?, Review of Finance.

8. Hou, Kewei, and Mathijs A. van Dijk, 2019, Resurrecting the Size Effect: Firm Size, Profitability Shocks, and Expected Stock Returns, Review of Financial Studies.

7. Bai, Hang, Kewei Hou, Howard Kung, Erica X.N. Li, and Lu Zhang, 2019, The CAPM Strikes Back? An Equilibrium Model with Disasters, Journal of Financial Economics.

10. Bao, Jack, and Kewei Hou, 2017, De Facto Seniority, Credit Risk, and Corporate Bond Prices, Review of Financial Studies.

11. Hou, Kewei, and Roger K. Loh, 2016, Have we solved the idiosyncratic volatility puzzle?, Journal of Financial Economics.

12. Hou, Kewei, Chen Xue, and Lu Zhang, 2015, Digesting Anomalies: An Investment Approach, Review of Financial Studies.

14. Hirshleifer, David, Kewei Hou, and Siew Hong Teoh, 2012, The Accrual Anomaly: Risk or Mispricing?, Management Science.

13. Hou, Kewei, Mathijs A. van Dijk, and Yinglei Zhang, 2012, The Implied Cost of Capital: A New Approach, Journal of Accounting & Economics.

15. Hou, Kewei, G. Andrew Karolyi, and Bong-Chan Kho, 2011, What Factors Drive Global Stock Returns?, Review of Financial Studies.

16. Hirshleifer, David, Kewei Hou, and Siew Hong Teoh, 2009, Accruals, Cash Flows, and Aggregate Stock Returns, Journal of Financial Economics.

17. Hou, Kewei, 2007, Industry Information Diffusion and the Lead-Lag Effect in Stock Returns, Review of Financial Studies.

18. Hou, Kewei, and David Robinson, 2006, Industry Concentration and Average Stock Returns, Journal of Finance.

19. Hou, Kewei, and Tobias Moskowitz, 2005, Market Frictions, Price Delay, and the Cross-Section of Expected Returns, Review of Financial Studies.

20. Hirshleifer, David, Kewei Hou, Siew Hong Teoh, and Yinglei Zhang, 2004, Do Investors Overvalue Firms with Bloated Balance Sheets?, Journal of Accounting & Economics.

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