Guofu Zhou is a Visiting Research Professor of Finance at Shanghai Advanced Institute of Finance (SAIF), and Frederick Bierman and James E. Spears Professor of Finance at Washington University in St. Louis.
Professor Zhou’s research interests include portfolio choice, asset allocation, technical analysis, bubbles and crashes, anomalies, asymmetric information, asset pricing tests, Bayesian learning, model selection, econometric methods in finance. His journal publications have appeared in Journal of Finance，Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Management Science, and other leading academic journals. Also, He is co-author of the book Financial Economic, and contributor to several books, including Advanced Fixed-Income Valuation Tools, and Q-finance, etc. Presently, he also serves as Associate Editor of Journal of Financial and Quantitative Analysis, and on the Editorial Board of Journal of Portfolio Management, International Journal of Portfolio Analysis & Management, Annals of Economics and Finance.
Professor Zhou received Reid Teaching Award (1997, 2010, 2014, 2018-2020), Special Recognition for Excellence in mentoring graduate students (2003 and 2013). He was named Marcile and James Reid Chair for his consistently outstanding teaching (1998), etc.
At Washington University, Professor Zhou has taught extensive finance courses at undergraduate, master (MSFin, MBA and EMBA), and Ph.D. levels.
Professor Zhou holds a BS degree from Chengdu College of Geology, a MS in Computational Mathematics from Chengdu Branch, Academia Sinica, and a Ph.D. in Economics from Duke University in 1990.
Journal Publications
1. Dong, Xi, Yan Li, David Rapach, and Guofu Zhou, 2022, Anomalies and the Expected Market Return, Journal of Finance.
2. Kan, Raymond, Xiaolu Wang, and Guofu Zhou, 2022, Optimal Portfolio Choice with Estimation Risk: No Risk-free Asset Case, Management Science.
3. Huang, Dashan, Jiangyuan Li, Liyao Wang, and Guofu Zhou, 2020, Time series momentum: Is it there?, Journal of Financial Economics.
4. Jiang, Fuwei, Joshua Lee, Xiumin Martin, Guofu Zhou, 2019, Manager Sentiment and Stock Returns, Journal of Financial Economics.
5. Gao, Lei, Yufeng Han, Sophia Zhengzi Li, and Guofu Zhou, 2018, Market intraday momentum, Journal of Financial Economics.
6. Jiang, Lei, Ke Wu, Guofu Zhou, 2018, Asymmetry in Stock Comovements: An Entropy Approach, Journal of Financial and Quantitative Analysis.
7. Kan, Raymond and Guofu Zhou, 2017, Modeling Non-normality Using Multivariate t: Implications for Asset Pricing, China Finance Review International.
8. Huang, Dashan, and Guofu Zhou, 2017, Upper Bounds on Return Predictability, Journal of Financial and Quantitative Analysis.
9. Rapach, David, Matthew Ringgenberg, and Guofu zhou, 2016, Short interest and aggregate stock returns, Journal of Financial Economics.
10. Han, Yufeng, Guofu Zhou, and Yingzi Zhu, 2016, A trend factor: Any economic gains from using information over investment horizons?, Journal of Financial Economics.
11. Fan, Longzhen, Fuwei Jiang, Guofu Zhou, 2015, The Chinese Bond Market: Risk, Return and Opportunities, The Journal of Portfolio Management.
12. Jushan Bai, Guofu Zhou, 2015, Fama-MacBeth Two-pass Regressions: Improving Risk Premia Estimates, Finance Research Letters.
13. Zhou, Guofu, and Yingzi Zhu, 2015, Macroeconomic Volatilities and Long-Run Risks of Asset Prices, Management Science.
14. Huang, Dashan, Fuwei Jiang, Jun Tu, and Guofu Zhou, 2015, Investor Sentiment Aligned: A Powerful Predictor of Stock Returns, Review of Financial Studies.
15. Neely, Christopher J., David E. Rapach, Jun Tu, and Guofu Zhou , 2014, Forecasting the Equity Risk Premium: The Role of Technical Indicators, Management Science.
16. Longzhen Fan, Canlin Li, Guofu Zhou, 2013, The Supply Factor in the Bond Market: Implications for Bond Risk and Return, Journal of Fixed Income.
17. Olszweski, Francis, and Guofu Zhou, 2013, Strategy Diversification: Combining Momentum and Carry Strategies within a Foreign Exchange Portfolio, Journal of Derivatives & Hedge Funds.
18. Rapach David E., Jack K. Strauss, and Guofu Zhou, 2013, International Stock Return Predictability: What Is the Role of the United States?, Journal of Finance.
19. Han, Yufeng, Ke Yang, and Guofu Zhou, 2013, A New Anomaly: The Cross-Sectional Profitability of Technical Analysis, Journal of Financial and Quantitative Analysis.
20. Zhou, Guofu, Sheng Qiang, and Yingzi Zhu, 2012, Asset Allocation: Can Technical Analysis Add Value?, International Journal of Portfolio Analysis and Management.
21. Guofu Zhou, Yingzi Zhu, 2012, Volatility Trading: What Is the Role of the Long-Run Volatility Component?, Journal of Financial and Quantitative Analysis.
22. Kan, Raymond, and Guofu Zhou, 2012, Tests of Mean-variance Spanning, Annals of Economics and Finance.
23. Tu, Jun, and Guofu Zhou, 2011, Markowitz Meets Talmud: A Combination of Sophisticated and Naive Diversification Strategies, Journal of Financial Economics.
24. 姜富伟, 凃俊, David E.Rapach, Jack K.Strauss, 周国富, 2011, 中国股票市场可预测性的实证研究, 《金融研究》。
25. Kong, Aiguo, David E. Rapach, Jack K. Strauss, and Guofu Zhou, 2011, Predicting Market Components Out of Sample: Asset Allocation Implications, The Journal of Portfolio Management.
26. Fabozzi, Frank J., Dashan Huang, Guofu Zhou, 2010, Robust Portfolios: Contributions from Operations Research and Finance, Annals of Operations Research.
27. Avramov, Doron, and Guofu Zhou, 2010, Bayesian Portfolio Analysis, Annual Review of Financial Economics.
28. Jagannathan, Ravi, Ernst Schaumburg, and Guofu Zhou, 2010, Cross Sectional Asset Pricing Tests, Annual Review of Financial Economics.
29. Zhou, Guofu, and Yingzi Zhu, 2010, Is the Recent Financial Crisis Really a “Once-in-a-Century” Event?, Financial Analysts Journal.
30. Kan Raymond, Guofu Zhou, 2010, What Will the Likely Range of My Wealth Be?: Author Response, Financial Analysts Journal.
31. Rapach, David, Jack Strauss, Guofu Zhou, 2010, Out-of-Sample Equity Premium Prediction: Combination Forecasts and Links to the Real Economy, Review of Financial Studies.
32. Guofu Zhou, 2010, How Much Stock Return Predictability Can We Expect From an Asset Pricing Model?, Economics Letters.
33. Tu, Jun, and Guofu Zhou, 2010, Incorporating Economic Objectives into Bayesian Priors: Portfolio Choice under Parameter Uncertainty, Journal of Financial and Quantitative Analysis.
34. Gormley, Todd, Hong Liu, and Guofu Zhou, 2010, Limited participation and consumption-saving puzzles: A simple explanation and the role of insurance, Journal of Financial Economics.
35. Yingzi Zhu, Guofu Zhou, 2009, Technical Analysis: An Asset Allocation Perspective on the Use of Moving Averages, Journal of Financial Economics.
36. GuoFu Zhou, 2009, Beyond Black-Litterman: Letting the Data Speak, The Journal of Portfolio Management.
37. Raymond Kan and Guofu Zhou, 2009, What Likely Range of My Wealth Will Be?, Financial Analysts Journal.
38. Zhou, Guofu, 2008, On the Fundamental Law of Active Portfolio Management: What Happens if Our Estimates Are Wrong?, The Journal of Portfolio Management.
39. Zhou, Guofu, 2008, On the Fundamental Law of Active Portfolio Management: How to Make Conditional Investments Unconditionally Optimal?, The Journal of Portfolio Management.
40. Shanken, Jay, and Guofu Zhou, 2007, Estimating and Testing Beta Pricing Models: Alternative Methods and Their Performance in Simulations, Journal of Financial Economics.
41. Kan, Raymond, and Guofu Zhou, 2007, Optimal Portfolio Choice with Parameter Uncertainty, Journal of Financial and Quantitative Analysis.
42. Hong, Yongmiao, Jun Tu, Guofu Zhou, 2007, Asymmetries in Stock Returns: Statistical Tests and Economic Evaluation, Review of Financial Studies.
43. Kan, Raymond, and Guofu Zhou, 2006, A New Variance Bound On the Stochastic Discount Factor, Journal of Business Research.
44. Chou, Pin-Huang, Wen-Shen Lia , Guofu Zhou, 2006, Portfolio Optimization Under Asset Pricing Anomalies, Japan and the World Economy.
45. Chou, Pin-Huang, and Guogu Zhou, 2006, Using Bootstrap to Test Portfolio Effciency, Annals of Economics and Finance.
46. Tu, Jun, and Guofu Zhou, 2004, Data-generating Process Uncertainty: What Difference Does It Make in Portfolio Decisions?, Journal of Financial Economics.
47. G.Zhou, Campbell Harvey and Bruno Solnik, 2002, What Determines Expected International Asset Returns, Annals of Economics and Finance.
48. Chou, Pin-Huang, Yuan-Lin Hsu, 2000, Investment Horizon and the Cross Section of Expected Returns: Evidence from the Tokyo Stock Exchange, Annals of Economics and Finance.
49. Heston, Steve, and Guofu Zhou, 2000, On Rate of Convergence of Discrete-time Contingent Claims, Mathematical Finance.
50. Kan, Raymond, and Guofu Zhou, 1999, A Critique of the Stochastic Discount Factor Methodology, Journal of Finance.
51. Velu, Raja, and Guofu Zhou, 1999, Testing Multi-beta Pricing Models, Journal of Empirical Finance.
52. G.Zhou, 1999, Security Factors as Linear Combinations of Economic Variables, Journal of Financial Markets.
53. Zhou, Guofu, David Beaglehole, and Philip Dybvig, 1997, Going to Extremes: Correcting Simulation Bias in Exotic Option Valuation, Financial Analysts Journal.
54. Geweke, John, and Guofu Zhou, 1996, Measuring the Pricing Error of the Arbitrage Pricing Theory,, Review of Financial Studies.
55. Lamoureux, Christopher G., Guofu Zhou, 1996, Temporary Components of Stock Returns: What Do the Data Tell Us, Review of Financial Studies.
56. G.Zhou, , 1995, Small Sample Rank Tests with Applications to Asset Pricing, Journal of Empirical Finance.
57. Strauss, Jack, and Guofu Zhou, 1995, Time to Build Effects and the Term Structure, Journal of Financial Research.
58. Zhou, Guofu, 1994, Analytical GMM Tests: Asset Pricing with Time-varying Risk Premiums, Review of Financial Studies.
59. Zhou, Guofu, 1993, Asset Pricing Tests Under Alternative Distributions, Journal of Finance.
60. Harvey, Campbell R., Guofu Zhou, 1993, International Asset Pricing with Alternative Distributional Speci, Journal of Empirical Finance.
61. Zhou, Guofu, 1992, Algorithms for the Estimation of Possibly Nonstationary Vector Time Series, Journal of Time Series Analysis.
62. Zhou, Guofu, 1991, Small Sample Tests of Portfolio Efficiency, Journal of Financial Economics.
63. Harvey, Campbell R., Guofu Zhou, 1990, Bayesian Inference in Asset Pricing Tests, Journal of Financial Economics.
64. G.Zhou, Chiding Kang, 1983, On Giuga's Conjecture and a Necessary and Sufficient Condition for Mersenne's Numbers to be Prime, Mathematical Monthly, Chinese Mathematical Society.
65. G.Zhou, Chiding Kang, 1983, On the Diophantine Equation ∑_(k=1)^m?〖k^n=〖(m+1)〗^n 〗, Journal of Mathematical Research and Exposition .
66. G.Zhou, Chiding Kang, Daqing Wan and Liren Zhao, 1982, On the Diophantine Equation X4 - 2Dy2= 1, Journal of China University of Science and Technology .
67. Zhou,Guofu, Chiding Kang, and Daqing Wan, 1982, Remarks on Two Diophantine Equations of the Fourth Order, Annuals of Hunan Mathematical Society.
68. G.Zhou, Chiding Kang, 1980, On Gigua's Conjecture, Journal of Chengdu College of Geology.
