Kewei Hou

Ohio State University (OSU) - Department of Finance

2100 Neil Avenue

Columbus, OH 43210-1144

United States

  • Ohio State University (OSU) - Department of Finance

    • Email
    • Tel: 614-292-0552
    • Fax: 614-292-2418
SCHOLARLY PAPERS

34

DOWNLOADS
Rank 422

SSRN RANKINGS

Top 422

in Total Papers Downloads

46,540

SSRN CITATIONS
Rank 432

SSRN RANKINGS

Top 432

in Total Papers Citations

1,158

CROSSREF CITATIONS

800

Scholarly Papers (34)

Actions:
Email selected abstracts
1.

Replicating Anomalies

Downloads 8,722 ( 640)
Citation 36

Replicating Anomalies

Fisher College of Business Working Paper No. 2017-03-010
Number of pages: 146 Posted: 03 May 2017 Last Revised: 27 Jul 2017
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 7,908 (747)
Citation 24

Abstract:

Loading...

Replication, P-Hacking, Anomalies, The q-Factor Model, Efficient Markets

Replicating Anomalies

Review of Financial Studies, forthcoming
Number of pages: 134 Posted: 31 Oct 2018
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 656 (42,207)
Citation 13

Abstract:

Loading...

Replication, factor investing, anomalies, microcaps, multiple testing

Replicating Anomalies

NBER Working Paper No. w23394
Number of pages: 130 Posted: 08 May 2017
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 158 (203,196)

Abstract:

Loading...

2.

Digesting Anomalies: An Investment Approach

Downloads 3,876 ( 2,645)
Citation 336

Digesting Anomalies: An Investment Approach

Review of Financial Studies, Forthcoming
Number of pages: 182 Posted: 12 Oct 2014
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 2,369 (5,944)
Citation 68

Abstract:

Loading...

The q-factor model, anomalies, factor regressions

Digesting Anomalies: An Investment Approach

Fisher College of Business Working Paper No. 2012-03-021
Number of pages: 95 Posted: 26 Sep 2012 Last Revised: 05 Dec 2012
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 1,471 (13,009)
Citation 9

Abstract:

Loading...

Asset pricing anomalies, investment, ROE, factor models, investment-based asset pricing

Digesting Anomalies: An Investment Approach

NBER Working Paper No. w18435
Number of pages: 85 Posted: 06 Oct 2012
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 36 (486,434)
Citation 120

Abstract:

Loading...

3.

A Comparison of New Factor Models

Downloads 3,293 ( 3,477)
Citation 53

A Comparison of New Factor Models

Fisher College of Business Working Paper No. 2015-03-05
Number of pages: 67 Posted: 11 Nov 2014 Last Revised: 19 Apr 2017
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 3,239 (3,505)
Citation 62

Abstract:

Loading...

Q-factor model, investment-based asset pricing, capital markets anomalies, factor regressions

Which Factors?

NBER Working Paper No. w20682
Number of pages: 52 Posted: 17 Nov 2014
Kewei Hou, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 54 (411,491)

Abstract:

Loading...

4.

Do Investors Overvalue Firms with Bloated Balance Sheets?

EFA 2004 Maastricht Meetings Paper No. 3233; Dice Center Working Paper No. 2004-18
Number of pages: 53 Posted: 03 Aug 2004
David A. Hirshleifer, Kewei Hou, Siew Hong Teoh and Yinglei Zhang
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance, University of California, Irvine - Accounting Area and The Chinese University of Hong Kong (CUHK) - School of Accountancy
Downloads 3,259 (3,541)
Citation 94

Abstract:

Loading...

limited attention, market efficiency, investor misvaluation

5.

A Tale of Two Anomalies: The Implications of Investor Attention for Price and Earnings Momentum

Number of pages: 44 Posted: 02 Apr 2007 Last Revised: 11 Nov 2010
Kewei Hou, Wei Xiong and Lin Peng
Ohio State University (OSU) - Department of Finance, Princeton University - Department of Economics and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 2,679 (4,939)
Citation 94

Abstract:

Loading...

6.

The Accrual Anomaly: Risk or Mispricing?

AFA 2007 Chicago Meetings Paper
Number of pages: 51 Posted: 30 Mar 2006 Last Revised: 31 Mar 2010
David A. Hirshleifer, Kewei Hou and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance and University of California, Irvine - Accounting Area
Downloads 2,509 (5,500)
Citation 15

Abstract:

Loading...

Capital markets, accruals, market efficiency, behavioral accounting, behavioral finance, limited attention

7.

What Factors Drive Global Stock Returns?

Charles A. Dice Center Working Paper No. 2006-009
Number of pages: 65 Posted: 15 Jun 2006 Last Revised: 27 May 2011
Kewei Hou, George Andrew Karolyi and Bong-Chan Kho
Ohio State University (OSU) - Department of Finance, Cornell University - Samuel Curtis Johnson Graduate School of Management and Seoul National University, Business School
Downloads 2,289 (6,419)
Citation 67

Abstract:

Loading...

International finance; asset pricing models; common factors

8.

Have We Solved the Idiosyncratic Volatility Puzzle?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 63 Posted: 18 Dec 2012 Last Revised: 02 Oct 2015
Kewei Hou and Roger Loh
Ohio State University (OSU) - Department of Finance and Singapore Management University - Lee Kong Chian School of Business
Downloads 2,092 (7,483)
Citation 30

Abstract:

Loading...

idiosyncratic volatility, cross-section of stock returns, lottery preferences, market frictions

9.

Industry Information Diffusion and the Lead-Lag Effect in Stock Returns

Downloads 2,052 ( 7,731)
Citation 45

Industry Information Diffusion and the Lead-Lag Effect in Stock Returns

Dice Center Working Paper No. 2003-23
Number of pages: 43 Posted: 11 Nov 2003
Kewei Hou
Ohio State University (OSU) - Department of Finance
Downloads 2,052 (7,576)
Citation 45

Abstract:

Loading...

Industry Information Diffusion and the Lead-Lag Effect in Stock Returns

The Review of Financial Studies, Vol. 20, Issue 4, pp. 1113-1138, 2007
Posted: 25 Jun 2008
Kewei Hou
Ohio State University (OSU) - Department of Finance

Abstract:

Loading...

G12, G14

10.

The Implied Cost of Capital: A New Approach

Charles A. Dice Center Working Paper No. 2010-4
Number of pages: 53 Posted: 02 Mar 2010 Last Revised: 13 Dec 2011
Kewei Hou, Mathijs A. Van Dijk and Yinglei Zhang
Ohio State University (OSU) - Department of Finance, Erasmus University - Rotterdam School of Management and The Chinese University of Hong Kong (CUHK) - School of Accountancy
Downloads 2,025 (7,923)
Citation 13

Abstract:

Loading...

Cross-sectional earnings model, Earnings forecasts, Expected returns, Implied cost of capital, Asset pricing tests

11.

Resurrecting the Size Effect: Firm Size, Profitability Shocks, and Expected Stock Returns

Charles A. Dice Center Working Paper No. 2010-1
Number of pages: 64 Posted: 18 Jan 2010 Last Revised: 11 Sep 2018
Kewei Hou and Mathijs A. Van Dijk
Ohio State University (OSU) - Department of Finance and Erasmus University - Rotterdam School of Management
Downloads 1,490 (12,993)
Citation 5

Abstract:

Loading...

Size effect, Expected stock returns, Profitability shocks, Asset pricing tests

12.

R2 and Price Inefficiency

Fisher College of Business Working Paper No. 2006-03-007
Number of pages: 50 Posted: 02 Jan 2007
Kewei Hou, Wei Xiong and Lin Peng
Ohio State University (OSU) - Department of Finance, Princeton University - Department of Economics and City University of New York, Baruch College - Zicklin School of Business - Department of Economics and Finance
Downloads 1,461 (13,415)
Citation 26

Abstract:

Loading...

13.

Industry Concentration and Average Stock Returns

Dice Center Working Paper No. 2003-30
Number of pages: 43 Posted: 23 Dec 2003
Kewei Hou and David T. Robinson
Ohio State University (OSU) - Department of Finance and Fuqua School of Business, Duke University
Downloads 1,445 (13,676)
Citation 112

Abstract:

Loading...

14.

Accruals and Aggregate Stock Market Returns

Number of pages: 53 Posted: 21 Nov 2005 Last Revised: 19 Oct 2008
David A. Hirshleifer, Kewei Hou and Siew Hong Teoh
University of California, Irvine - Paul Merage School of Business, Ohio State University (OSU) - Department of Finance and University of California, Irvine - Accounting Area
Downloads 1,240 (17,266)
Citation 7

Abstract:

Loading...

15.

Market Frictions, Price Delay, and the Cross-Section of Expected Returns

CRSP Working Paper No. 547
Number of pages: 42 Posted: 27 May 2003
Kewei Hou and Tobias J. Moskowitz
Ohio State University (OSU) - Department of Finance and Yale University, Yale SOM
Downloads 1,096 (20,803)
Citation 93

Abstract:

Loading...

16.

q5

Downloads 1,033 ( 22,699)
Citation 2

q5

Charles A. Dice Center Working Paper No. 2018-10
Number of pages: 99 Posted: 05 Jun 2018 Last Revised: 31 Oct 2018
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 1,015 (22,915)
Citation 2

Abstract:

Loading...

The q5-Model, The q-Factor Model, The Expected Growth, The Investment CAPM, Factor Regressions, Anomalies

Q5

NBER Working Paper No. w24709
Number of pages: 61 Posted: 18 Jun 2018
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 18 (596,285)

Abstract:

Loading...

17.

The Economics of Value Investing

Downloads 853 ( 29,908)

The Economics of Value Investing

Charles A. Dice Center Working Paper No. 2017-16
Number of pages: 69 Posted: 05 Jul 2017 Last Revised: 04 Dec 2017
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 825 (30,878)

Abstract:

Loading...

Value Investing, Security Analysis, The Investment CAPM, Efficient Markets

The Economics of Value Investing

NBER Working Paper No. w23563
Number of pages: 66 Posted: 10 Jul 2017
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 28 (529,461)

Abstract:

Loading...

18.

Which Factors

Fisher College of Business Working Paper No. 2018-03-003
Number of pages: 52 Posted: 06 Mar 2018 Last Revised: 12 Jul 2018
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 756 (35,339)
Citation 6

Abstract:

Loading...

The q-factor model, the Q5 model, factor spanning tests, the investment CAPM, factor investing

19.

Real Effects of Climate Policy: Financial Constraints and Spillovers

Fisher College of Business Working Paper No. 2019-03-004
Number of pages: 76 Posted: 25 Oct 2018 Last Revised: 24 Oct 2019
Söhnke M. Bartram, Kewei Hou and Sehoon Kim
Warwick Business School - Department of Finance, Ohio State University (OSU) - Department of Finance and University of Florida - Department of Finance, Insurance and Real Estate
Downloads 597 (48,585)
Citation 3

Abstract:

Loading...

Climate policy, California cap-and-trade, financial constraints, internal resource allocation, regulatory arbitrage, spillover effects

20.

The CAPM Strikes Back? An Equilibrium Model with Disasters

Downloads 545 ( 54,374)
Citation 8

The CAPM Strikes Back? An Equilibrium Model with Disasters

Fisher College of Business Working Paper No. 2015-03-03
Number of pages: 58 Posted: 23 Feb 2015 Last Revised: 19 Feb 2018
Hang Bai, Kewei Hou, Howard Kung, Erica X. N. Li and Lu Zhang
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 397 (79,448)
Citation 2

Abstract:

Loading...

The CAPM, Rare Disasters, Measurement Errors, The Consumption CAPM, General Equilibrium

The CAPM Strikes Back? An Equilibrium Model with Disasters

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 64 Posted: 07 Mar 2018
Hang Bai, Kewei Hou, Howard Kung, Erica X. N. Li and Lu Zhang
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School, Cheung Kong Graduate School of Business and Ohio State University - Fisher College of Business
Downloads 126 (244,189)
Citation 4

Abstract:

Loading...

The CAPM, Rare Disasters, Measurement Errors, The Consumption CAPM, General Equilibrium, Approximate Aggregation

The CAPM Strikes Back? An Investment Model with Disasters

NBER Working Paper No. w21016
Number of pages: 41 Posted: 16 Mar 2015
Hang Bai, Kewei Hou, Howard Kung and Lu Zhang
University of Connecticut - Department of Finance, Ohio State University (OSU) - Department of Finance, London Business School and Ohio State University - Fisher College of Business
Downloads 22 (568,517)

Abstract:

Loading...

21.

Prices and Volatilities in the Corporate Bond Market

Fisher College of Business Working Paper No. 2015-03-18
Number of pages: 63 Posted: 29 Aug 2015
Jack Bao, Jia Chen, Kewei Hou and Lei Lu
University of Delaware - Department of Finance, Peking University, Ohio State University (OSU) - Department of Finance and Peking University - Guanghua School of Management
Downloads 433 (72,385)
Citation 3

Abstract:

Loading...

Bond volatility, Yield spreads, Credit risk, Illiquidity, Decomposition

22.

Systemic Default and Return Predictability in the Stock and Bond Markets

Charles A. Dice Center Working Paper No. 2016-2
Number of pages: 54 Posted: 27 Jan 2016 Last Revised: 07 Apr 2020
Jack Bao, Kewei Hou and Shaojun Zhang
University of Delaware - Department of Finance, Ohio State University (OSU) - Department of Finance and The Ohio State University
Downloads 426 (73,805)
Citation 4

Abstract:

Loading...

Systemic risk, Joint default, Predictability, Stock returns, Bond returns

23.

Are Firms in 'Boring' Industries Worth Less?

Fisher College of Business Working Paper No. 2015-3-02
Number of pages: 47 Posted: 16 Jan 2015 Last Revised: 17 Jan 2015
Jia Chen, Kewei Hou and René M. Stulz
Peking University, Ohio State University (OSU) - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 393 (81,092)

Abstract:

Loading...

Market-to-book ratio, misevaluation, saliency, industry, cost of equity, profitability dispersion

24.

Comovement of Corporate Bonds and Equities

Fisher College of Business Working Paper No. 2013-03-11
Number of pages: 45 Posted: 12 Jul 2013
Jack Bao and Kewei Hou
University of Delaware - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 345 (94,259)
Citation 69

Abstract:

Loading...

Comovement, Hedge ratios, Structural models of default, Ratings

25.

(Priced) Frictions

Fisher College of Business Working Paper No. 2016-03-19
Number of pages: 62 Posted: 07 Oct 2016 Last Revised: 06 Nov 2016
Kewei Hou, Sehoon Kim and Ingrid M. Werner
Ohio State University (OSU) - Department of Finance, University of Florida - Department of Finance, Insurance and Real Estate and The Ohio State University - Fisher College of Business
Downloads 341 (95,521)
Citation 4

Abstract:

Loading...

Microstructure frictions, return measurement bias, asset pricing, and anomalies

26.

Which Factors?

Review of Finance, Forthcoming
Number of pages: 38 Posted: 22 Oct 2018
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 271 (122,412)
Citation 4

Abstract:

Loading...

The q-factor model, the q^5 model, spanning regressions, the investment CAPM

27.

Political Uncertainty and Commodity Markets

Fisher College of Business Working Paper No. 2017-03-025
Number of pages: 54 Posted: 06 Nov 2017 Last Revised: 08 Jun 2020
Kewei Hou, Ke Tang and Bohui Zhang
Ohio State University (OSU) - Department of Finance, Institute of Economics, School of Social Sciences, Tsinghua University and The Chinese University of Hong Kong, Shenzhen
Downloads 268 (123,862)
Citation 2

Abstract:

Loading...

Political Uncertainty, Commodity Prices, Inventories, Convenience Yields, Risk Premiums, U.S. Presidential Elections

28.

Understanding the Variation in the Information Content of Earnings: A Return Decomposition Analysis

Fisher College of Business Working Paper No. 2015-03-01
Number of pages: 42 Posted: 14 Jan 2015
Kewei Hou, Yinglei Zhang and Zili Zhuang
Ohio State University (OSU) - Department of Finance, The Chinese University of Hong Kong (CUHK) - School of Accountancy and The Chinese University of Hong Kong (CUHK) - Faculty of Business Administration
Downloads 267 (124,382)
Citation 1

Abstract:

Loading...

Earnings, Information Content, Return Decomposition, Discount Rate News

29.

Security Analysis: An Investment Perspective

Downloads 260 (127,988)

Security Analysis: An Investment Perspective

Fisher College of Business Working Paper No. 2019-03-016
Number of pages: 71 Posted: 08 Jul 2019
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 239 (138,685)

Abstract:

Loading...

Security analysis, q^5, the investment theory, quality minus junk, fundamental score, “magic formula,” agnostic fundamental analysis

Security Analysis: An Investment Perspective

NBER Working Paper No. w26060
Number of pages: 71 Posted: 14 Aug 2019
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 21 (575,304)
  • Add to Cart

Abstract:

Loading...

30.

De Facto Seniority, Credit Risk, and Corporate Bond Prices

Forthcoming, Review of Financial Studies
Number of pages: 67 Posted: 08 Sep 2017
Jack Bao and Kewei Hou
University of Delaware - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 107 (273,921)
Citation 3

Abstract:

Loading...

Credit Risk, Structural Models of Default, Comovement, Corporate Bonds

31.

An Augmented q-Factor Model with Expected Growth

Review of Finance, Forthcoming
Number of pages: 54 Posted: 19 Mar 2020
Kewei Hou, Haitao Mo, Chen Xue and Lu Zhang
Ohio State University (OSU) - Department of Finance, Louisiana State University, Baton Rouge - E.J. Ourso College of Business Administration, University of Cincinnati and Ohio State University - Fisher College of Business
Downloads 91 (304,715)
Citation 5

Abstract:

Loading...

The expected growth factor, factor models, the q5 model, the investment theory

32.

Are Firms in "Boring" Industries Worth Less?

NBER Working Paper No. w20880
Number of pages: 47 Posted: 27 Jan 2015 Last Revised: 03 Feb 2015
Jia Chen, Kewei Hou and René M. Stulz
Peking University, Ohio State University (OSU) - Department of Finance and Ohio State University (OSU) - Department of Finance
Downloads 26 (526,316)

Abstract:

Loading...

33.

Does Takeover Increase Stockholder Value

EFA 0488
Posted: 05 Nov 2000
Kewei Hou, Per Olsson and David T. Robinson
Ohio State University (OSU) - Department of Finance, Duke University and Fuqua School of Business, Duke University

Abstract:

Loading...

34.

Towards a Property Rights View of Government Ownership

AFA 2001 New Orleans
Posted: 16 May 2000
David T. Robinson and Kewei Hou
Fuqua School of Business, Duke University and Ohio State University (OSU) - Department of Finance

Abstract:

Loading...