Long Chen

Luohan Academy

Director

No. 556, Xixi Road, Z Space

Xihu District

Hangzhou, Zhejiang 310013

China

Cheung Kong Graduate School of Business

Professor of Finance

Oriental Plaza, Tower E3

One East Chang An Avenue

Beijing, 100738

China

  • Luohan Academy

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SCHOLARLY PAPERS

24

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Scholarly Papers (24)

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1.

An Alternative Three-Factor Model

Number of pages: 32 Posted: 19 May 2010 Last Revised: 21 Jan 2014
Long Chen, Long Chen, Robert Novy-Marx and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, Simon Business School, University of Rochester and Ohio State University - Fisher College of Business
Downloads 13,719 (639)
Citation 148

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Anomalies, Alphas, Factor Regressions, Asset Pricing Tests

2.

On the Relation between the Market-to-Book Ratio, Growth Opportunity, and Leverage Ratio

AFA 2005 Philadelphia Meetings
Number of pages: 19 Posted: 05 Mar 2004
Long Chen, Long Chen and Xinlei Shelly Zhao
Cheung Kong Graduate School of BusinessLuohan Academy and Government of the United States of America - Office of the Comptroller of the Currency (OCC) - Risk Analysis Division
Downloads 3,804 (5,678)
Citation 7

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Capital structure, target leverage ratio, pecking order theory, market timing hypothesis, market-to-book ratio, growth opportunity

3.

Profitability, Mean Reversion of Leverage Ratios, and Capital Structure Choices

Number of pages: 47 Posted: 15 Oct 2004
Long Chen, Long Chen and Xinlei Shelly Zhao
Cheung Kong Graduate School of BusinessLuohan Academy and Government of the United States of America - Office of the Comptroller of the Currency (OCC) - Risk Analysis Division
Downloads 2,967 (8,491)
Citation 22

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Capital structure, tradeoff theory, pecking order theory, profitability

4.

Corporate Yield Spreads and Bond Liquidity

Number of pages: 42 Posted: 07 Feb 2004
David A. Lesmond, Long Chen, Long Chen and Jason Wei
Tulane University - A.B. Freeman School of Business, Cheung Kong Graduate School of BusinessLuohan Academy and University of Toronto - Rotman School of Management
Downloads 2,591 (10,495)
Citation 245

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5.

A Brief Introduction to Blockchain Economics

Number of pages: 41 Posted: 12 Sep 2019 Last Revised: 12 Oct 2020
Long Chen, Long Chen, Lin William Cong and Yizhou Xiao
Cheung Kong Graduate School of BusinessLuohan Academy, Cornell University - Samuel Curtis Johnson Graduate School of Management and The Chinese University of Hong Kong (CUHK) - CUHK Business School
Downloads 2,356 (12,213)
Citation 15

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Bitcoin, Blockchain, Distributed Ledger, FinTech

6.

What Drives Stock Price Movement?

Number of pages: 53 Posted: 18 Apr 2008 Last Revised: 24 Aug 2022
Long Chen, Long Chen, Zhi Da and Xinlei Shelly Zhao
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Government of the United States of America - Office of the Comptroller of the Currency (OCC) - Risk Analysis Division
Downloads 1,930 (16,706)
Citation 82

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Expected return, discount rate news, cash flow news, predictability, analyst forecast

7.

Expected Returns, Yield Spreads, and Asset Pricing Tests

Downloads 1,618 (22,027)
Citation 57

Expected Returns, Yield Spreads, and Asset Pricing Tests

Simon School Working Paper No. FR 04-04, AFA 2005 Philadelphia Meetings
Number of pages: 48 Posted: 12 Dec 2004
Murillo Campello, Long Chen, Long Chen and Lu Zhang
University of Florida - Warrington College of Business Administration, Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 1,218 (33,049)
Citation 6

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Expected Returns, Risk Factors, Systematic Risk, Yield Spreads

Expected Returns, Yield Spreads, and Asset Pricing Tests

Review of Financial Studies, Forthcoming
Number of pages: 52 Posted: 07 Nov 2007
Murillo Campello, Long Chen, Long Chen and Lu Zhang
University of Florida - Warrington College of Business Administration, Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 272 (214,609)

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Expected returns, risk factors, systematic risk, yield spreads

Expected Returns, Yield Spreads, and Asset Pricing Tests

NBER Working Paper No. w11323
Number of pages: 41 Posted: 13 Jun 2005 Last Revised: 11 Dec 2022
Murillo Campello, Long Chen, Long Chen and Lu Zhang
University of Florida - Warrington College of Business Administration, Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 128 (423,482)
Citation 8

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8.

On the Relation between the Credit Spread Puzzle and the Equity Premium Puzzle

Downloads 1,500 (24,749)
Citation 119

On the Relation between the Credit Spread Puzzle and the Equity Premium Puzzle

AFA 2006 Boston Meetings Paper
Number of pages: 59 Posted: 16 Mar 2005 Last Revised: 01 Jul 2011
Long Chen, Long Chen, Pierre Collin-Dufresne and Robert S. Goldstein
Cheung Kong Graduate School of BusinessLuohan Academy, Ecole Polytechnique Fédérale de Lausanne and University of Minnesota - Twin Cities - Carlson School of Management
Downloads 1,500 (24,308)
Citation 119

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Equity premium, credit spread, habit formation model

On the Relation between the Credit Spread Puzzle and the Equity Premium Puzzle

Review of Financial Studies, Forthcoming
Posted: 12 Nov 2007
Long Chen, Long Chen, Pierre Collin-Dufresne and Robert S. Goldstein
Cheung Kong Graduate School of BusinessLuohan Academy, Ecole Polytechnique Fédérale de Lausanne and University of Minnesota - Twin Cities - Carlson School of Management

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9.

Return Decomposition

AFA 2007 Chicago Meetings Paper
Number of pages: 45 Posted: 10 Sep 2005 Last Revised: 25 Aug 2022
Long Chen, Long Chen and Xinlei Shelly Zhao
Cheung Kong Graduate School of BusinessLuohan Academy and Government of the United States of America - Office of the Comptroller of the Currency (OCC) - Risk Analysis Division
Downloads 1,275 (31,454)
Citation 46

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Return decomposition, discount rate news, cash flow news, value stock, growth stock

10.

The Expected Value Premium

Downloads 1,236 (32,895)
Citation 372

The Expected Value Premium

AFA 2007 Chicago Meetings Paper, Ross School of Business Paper No. 1049
Number of pages: 39 Posted: 13 Mar 2006
Long Chen, Long Chen, Ralitsa Petkova and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, Case Western Reserve University - Department of Banking & Finance and Ohio State University - Fisher College of Business
Downloads 718 (68,738)

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The Value Premium, Expected Returns, Dividend Growth, Dividend Price Ratio

The Expected Value Premium

Forthcoming, Journal of Financial Economics (JFE)
Number of pages: 23 Posted: 09 Apr 2007
Long Chen, Long Chen, Ralitsa Petkova and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, Case Western Reserve University - Department of Banking & Finance and Ohio State University - Fisher College of Business
Downloads 420 (133,593)
Citation 1

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The Value Strategy, Expected Returns, Dividend Growth, Dividend Price Ratio, Capital Gains

The Expected Value Premium

NBER Working Paper No. w12183
Number of pages: 43 Posted: 23 May 2006 Last Revised: 18 Apr 2022
Long Chen, Long Chen, Ralitsa Petkova and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, Case Western Reserve University - Department of Banking & Finance and Ohio State University - Fisher College of Business
Downloads 98 (517,269)
Citation 144

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11.

Neoclassical Factors

Downloads 1,096 (39,112)
Citation 2

Neoclassical Factors

Ross School of Business Paper No. 1088, AFA 2009 San Francisco Meetings Paper
Number of pages: 39 Posted: 25 Jun 2007 Last Revised: 16 Sep 2009
Lu Zhang, Long Chen and Long Chen
Ohio State University - Fisher College of Business and Cheung Kong Graduate School of BusinessLuohan Academy
Downloads 984 (44,828)
Citation 3

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The cross-section of returns, anomalies, neoclassical economics, factor regressions

Neoclassical Factors

NBER Working Paper No. w13282
Number of pages: 58 Posted: 23 Jul 2007 Last Revised: 17 Oct 2022
Long Chen, Long Chen and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 112 (469,537)

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12.

Are Financial Constraints Priced? Evidence from Firm Fundamentals and Stock Returns

Journal of Money, Credit, and Banking, Forthcoming
Number of pages: 22 Posted: 19 Mar 2005 Last Revised: 18 Feb 2010
Murillo Campello, Long Chen and Long Chen
University of Florida - Warrington College of Business Administration and Cheung Kong Graduate School of BusinessLuohan Academy
Downloads 1,029 (42,756)
Citation 1

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Financial constraints, equity returns, credit spreads, systematic risk, macroeconomic shocks

13.

Dividend Smoothing and Predictability

Number of pages: 56 Posted: 12 Oct 2008 Last Revised: 16 Mar 2011
Long Chen, Long Chen, Zhi Da and Richard Priestley
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Norwegian Business School
Downloads 878 (53,306)
Citation 33

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Dividend-price ratio, earning-price ratio, dividend growth, earnings growth, predictability, dividend smoothing

14.

Myopic Extrapolation, Price Momentum, and Price Reversal

Number of pages: 50 Posted: 04 Jul 2009 Last Revised: 24 Aug 2022
Long Chen, Long Chen, Claudia E. Moise and Xinlei Shelly Zhao
Cheung Kong Graduate School of BusinessLuohan Academy, University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School and Government of the United States of America - Office of the Comptroller of the Currency (OCC) - Risk Analysis Division
Downloads 837 (56,907)
Citation 2

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Momentum, reversal, analyst forecast, earnings, expected return, realized return

15.

On the Reversal of Return and Dividend Growth Predictability: A Tale of Two Periods

Downloads 824 (58,165)
Citation 58

On the Reversal of Return and Dividend Growth Predictability: A Tale of Two Periods

Number of pages: 53 Posted: 25 Mar 2008 Last Revised: 27 May 2008
Long Chen and Long Chen
Cheung Kong Graduate School of BusinessLuohan Academy
Downloads 824 (57,304)
Citation 58

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Dividend price ratio, equity return, dividend growth, predictability

On the Reversal of Return and Dividend Growth Predictability: A Tale of Two Periods

Journal of Financial Economics (JFE), Forthcoming
Posted: 28 May 2008
Long Chen and Long Chen
Cheung Kong Graduate School of BusinessLuohan Academy

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Dividend yield, equity return, dividend growth, predictability

16.

Understanding Big Data: Data Calculus in the Digital Era

Rotman School of Management Working Paper No. 3791018, Columbia Business School Research Paper Forthcoming
Number of pages: 86 Posted: 25 Feb 2021
Long Chen, Long Chen, Patrick Bolton, Bengt R. Holmström, Eric Maskin, Christopher A. Pissarides, A. Michael Spence, Tao Sun, Tianshu Sun, Wei Xiong, Liyan Yang, Yadong Huang, Yong Li, Xuan Luo, Yingju Ma, Shumiao Ouyang and Feng Zhu
Cheung Kong Graduate School of BusinessLuohan Academy, Imperial College London, Massachusetts Institute of Technology (MIT) - Department of Economics, Princeton University - Department of Economics, London School of Economics & Political Science (LSE), Stanford Graduate School of Business, International Monetary Fund (IMF), Cheung Kong Graduate School of Business, Princeton University - Department of Economics, University of Toronto - Rotman School of Management, Luohan Academy, Luohan Academy, Luohan Academy, Luohan Academy, University of Oxford, Saïd Business School and Ant Financial
Downloads 767 (64,008)
Citation 4

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big data, data economics, information economics, privacy, market competition

17.

Equity Market Volatility and Expected Risk Premium

Federal Reserve Bank St. Louis Working Paper No. 2006-007
Number of pages: 40 Posted: 31 Jan 2006
Long Chen, Long Chen, Hui Guo and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, University of Cincinnati - Department of Finance - Real Estate and Ohio State University - Fisher College of Business
Downloads 538 (100,515)
Citation 1

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Expected return, equity market volatility, systematic risk, yield spreads

18.

Digital Circular Economy For Net Zero

Number of pages: 86 Posted: 25 May 2022
Patrick Bolton, Peter Lacy, Michael Spence, Ming Xu, Long Chen, Long Chen, Sangwoo Choi, Wei Liu, Qi Sun and Bo Tang
Imperial College London, Accenture, Stanford University, University of Michigan at Ann Arbor - School of Natural Resources & Environment, Cheung Kong Graduate School of BusinessLuohan Academy, Luohan Academy, Luohan Academy, Luohan Academy and London School of Economics & Political Science (LSE)
Downloads 423 (133,825)
Citation 1

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Carbon emission, net zero, digitalization, circular economy, governance, multi-level perspective, socio-technical system

19.

The Stock Market and Aggregate Employment

Downloads 420 (134,938)

The Stock Market and Aggregate Employment

Number of pages: 40 Posted: 16 Jul 2009 Last Revised: 16 Sep 2009
Long Chen, Long Chen and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 374 (152,734)

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Time-varying risk premiums, payroll growth, unemployment rate, search and matching, time-to-build

The Stock Market and Aggregate Employment

NBER Working Paper No. w15219
Number of pages: 41 Posted: 18 Aug 2009 Last Revised: 01 Feb 2023
Long Chen, Long Chen and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 46 (780,049)

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20.

Return Predictability in Corporate Bond Market Along the Supply Chain

Journal of Financial Markets, June 2016, Vol 29, 66-86
Number of pages: 52 Posted: 21 Apr 2014 Last Revised: 04 Jan 2017
Long Chen, Long Chen, Gaiyan Zhang and Weina Zhang
Cheung Kong Graduate School of BusinessLuohan Academy, University of Missouri at St. Louis - College of Business Administration and National University of Singapore (NUS) - Sustainable & Green Finance Institute (SGFIN)
Downloads 238 (246,389)
Citation 3

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Corporate Bonds; Cash Flow; Credit Rating; Credit Risk; Earnings; Information; Supply Chain; Return Predictability

21.

What Moves Investment Growth?

Number of pages: 42 Posted: 18 Mar 2011
Long Chen, Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 209 (278,495)
Citation 4

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aggregate investment, variance decomposition, q-theory, earnings shocks, cash flow news, discount rate news

22.

What Moves Aggregate Investment?

Number of pages: 56 Posted: 01 Oct 2009 Last Revised: 18 Mar 2010
Long Chen, Long Chen, Zhi Da and Borja Larrain
Cheung Kong Graduate School of BusinessLuohan Academy, University of Notre Dame - Mendoza College of Business and Pontificia Universidad Catolica de Chile
Downloads 204 (284,800)
Citation 2

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aggregate investment, variance decomposition, q-theory, earnings shocks, cash flow news, discount rate news.

23.

Do Time-Varying Risk Premiums Explain Labor Market Performance?

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 33 Posted: 25 Mar 2010
Long Chen, Long Chen and Lu Zhang
Cheung Kong Graduate School of BusinessLuohan Academy and Ohio State University - Fisher College of Business
Downloads 172 (331,984)
Citation 1

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Time-varying risk premiums, payroll growth, hiring rate, search and matching, time-to-build, time-to-plan

24.

The Data Privacy Paradox and Digital Demand

NBER Working Paper No. w28854
Number of pages: 55 Posted: 01 Jun 2021 Last Revised: 23 May 2022
Long Chen, Long Chen, Yadong Huang, Shumiao Ouyang and Wei Xiong
Cheung Kong Graduate School of BusinessLuohan Academy, Luohan Academy, University of Oxford, Saïd Business School and Princeton University - Department of Economics
Downloads 18 (1,003,319)
Citation 3

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