Kewei Hou

Professor Kewei Hou’s primary research interest is in the area of empirical asset pricing with a specialization in the predictability of asset returns. 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 the China Academy of Financial Research, and 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 joined the Ohio State University Fisher College of Business in 2001. He 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.

• Ph.D., Finance,  University of Chicago, Booth School of Business
• B.S., Electrical Engineering, University of Science and Technology of China (USTC)

• Real Effects of Climate Policy: Financial Constraints and Spillovers (2022).  Journal of Financial Economics, 143(2), 668-696.
  • (with Söhnke Bartram and Sehoon Kim)
• Corporate R&D and Stock Returns: International Evidence (2022).   Journal of Financial and Quantitative Analysis, 57(4), 1377-1408.
  • (with Po-Hsuan Hsu, Shiheng Wang, Akiko Watanabe and Yan Xu)
• An Augmented q-factor Model with Expected Growth (2021).  Review of Finance 25, 1-41.
  • (with Haitao Mo, Chen Xue and Lu Zhang)
• Replicating Anomalies (2020).  Review of Financial Studies, 33, 2019-2133. 
  • (with Chen Xue and Lu Zhang)
• Resurrecting the Size Effect: Firm Size, Profitability Shocks, and Expected Stock Returns (2019).  Review of Financial Studies, 32, 2850-2889. 
  • (with Mathijs A. van Dijk)
• The CAPM Strikes Back? An Equilibrium Model with Disasters (2019).   Journal of Financial Economics, 131, 269-298. 
  • (with Hang Bai, Howard Kung, Erica Li and Lu Zhang)
• Which Factors? (2019).  Review of Finance, 23, 1-35. 
  • (with Haitao Mo, Chen Xue and Lu Zhang)
• De Facto Seniority, Credit Risk, and Corporate Bond Prices (2017).  Review of Financial Studies, 30, 4038-4080.
  • (with Jack Bao)
• Have We Solved the Idiosyncratic Volatility Puzzle? (2016).  Journal of Financial Economics, 121, 167-194.
  • (with Roger Loh)
• Digesting Anomalies: An Investment Approach (2015).  Review of Financial Studies, 28, 650-705. Lead article.
  • (with Chen Xue and Lu Zhang)
• The Implied Cost of Capital: A New Approach (2012). Journal of Accounting and Economics, 53, 504-526.
  • (with Mathijs A. van Dijk and Yinglei Zhang)
• The Accrual Anomaly: Risk or Mispricing? (2012). Management Science, 58, 320-335.
  • (with David Hirshleifer and Siew Hong Teoh)
• What Factors Drive Global Stock Returns?(2011). Review of Financial Studies, 24, 2527-2574. Lead article.
  • (with Andrew Karolyi and Bong-Chan Kho)
• Accruals, Cash Flows, and Aggregate Stock Returns (2009).  Journal of Financial Economics, 91, 389-406.
  • (with David Hirshleifer and Siew Hong Teoh)
• Industry Information Diffusion and the Lead-Lag Effect in Stock Returns (2007).  Review of Financial Studies, 20, 1113-1138.
• Industry Concentration and Average Stock Returns (2006). Journal of Finance, 61, 1927-1956.
  • (with David Robinson)
• Market Frictions, Price Delay, and the Cross-Section of Expected Returns (2005).  Review of Financial Studies, 18, 981-1020.
  • (with Tobias Moskowitz)
• Do Investors Overvalue Firms with Bloated Balance Sheets? (2004).  Journal of Accounting and Economics, 38, 297-331.
  • (with David Hirshleifer, Siew Hong Teoh and Yinglei Zhang)