Dong Lou

HKUST Business School

Citi Professor of Business

Clear Water Bay

Kowloon

Hong Kong

  • HKUST Business School

SCHOLARLY PAPERS

29

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17,680

TOTAL CITATIONS
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Top 1,990

in Total Papers Citations

414

Scholarly Papers (29)

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1.

Complicated Firms

AFA 2011 Denver Meetings Paper
Number of pages: 49 Posted: 15 Mar 2010 Last Revised: 19 Apr 2016
Lauren Cohen and Dong Lou
Harvard University - Business School (HBS) and HKUST Business School
Downloads 1,806 (20,752)
Citation 59

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Complicated trades, return predictability, stand alone, conglomerate, market frictions

2.

A Flow-Based Explanation for Return Predictability

Number of pages: 53 Posted: 06 Sep 2009 Last Revised: 01 Jul 2010
Dong Lou
HKUST Business School
Downloads 1,532 (26,672)
Citation 98

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Capital flows, Price pressure, Return predictability, Performance persistence, Smart money effect, Stock price momentum

3.

Playing Favorites: How Firms Prevent the Revelation of Bad News

Downloads 1,440 (29,247)
Citation 6

Playing Favorites: How Firms Prevent the Revelation of Bad News

Number of pages: 74 Posted: 13 Aug 2014 Last Revised: 24 Mar 2019
Lauren Cohen, Dong Lou and Christopher J. Malloy
Harvard University - Business School (HBS), HKUST Business School and Harvard Business School
Downloads 1,228 (36,296)
Citation 4

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information, strategic release, firms, asset pricing, conference calls

Playing Favorites: How Firms Prevent the Revelation of Bad News

NBER Working Paper No. w19429
Number of pages: 61 Posted: 14 Sep 2013 Last Revised: 02 Feb 2023
Lauren Cohen, Dong Lou and Christopher J. Malloy
Harvard University - Business School (HBS), HKUST Business School and Harvard Business School
Downloads 210 (310,644)

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Playing Favorites: How Firms Prevent the Revelation of Bad News

CEPR Discussion Paper No. DP12302
Number of pages: 54 Posted: 20 Sep 2017
Lauren Cohen, Dong Lou and Christopher J. Malloy
Harvard University - Business School (HBS), HKUST Business School and Harvard Business School
Downloads 2 (1,383,238)
Citation 2
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4.

Wealth Redistribution in Bubbles and Crashes

Journal of Monetary Economics, Vol. 126, 2022, PBCSF-NIFR Research Paper
Number of pages: 45 Posted: 19 Jun 2019 Last Revised: 26 Feb 2022
Li An, Dong Lou and Donghui Shi
Tsinghua University - PBC School of Finance, HKUST Business School and Shanghai Stock Exchange
Downloads 1,351 (32,110)
Citation 9

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bubbles and crashes, wealth inequality, market participation, social impact

5.

IQ from IP: Simplifying Search in Portfolio Choice

Downloads 1,304 (33,860)
Citation 70

IQ from IP: Simplifying Search in Portfolio Choice

8th Miami Behavioral Finance Conference 2017
Number of pages: 56 Posted: 18 Sep 2017 Last Revised: 20 Apr 2019
Huaizhi Chen, Lauren Cohen, Umit G. Gurun, Dong Lou and Christopher J. Malloy
University of Notre Dame - Department of Finance, Harvard University - Business School (HBS), University of Texas at Dallas, HKUST Business School and Harvard Business School
Downloads 1,243 (35,676)
Citation 1

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Tracked trades, Return predictability, Institutional trading, Insider trading

IQ from Ip: Simplifying Search in Portfolio Choice

NBER Working Paper No. w24801
Number of pages: 56 Posted: 16 Jul 2018 Last Revised: 08 Apr 2023
Huaizhi Chen, Lauren Cohen, Umit G. Gurun, Dong Lou and Christopher J. Malloy
University of Notre Dame - Department of Finance, Harvard University - Business School (HBS), University of Texas at Dallas, HKUST Business School and Harvard Business School
Downloads 61 (780,758)
Citation 69

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6.

Relative Basis and the Expected Returns of Commodity Futures

Number of pages: 66 Posted: 21 Jun 2019 Last Revised: 23 Jul 2024
Ming Gu, Wenjin Kang, Dong Lou and Ke Tang
Xiamen University - School of Economics, Faculty of Business Administration, University of Macau, HKUST Business School and Institute of Economics, School of Social Sciences, Tsinghua University
Downloads 1,045 (46,633)

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commodity markets, futures basis, convenience yield, commodity futures returns, theory of storage

7.

'Consistent' Earnings Surprises

Downloads 990 (50,346)
Citation 3

'Consistent' Earnings Surprises

Number of pages: 52 Posted: 15 Mar 2010 Last Revised: 09 Sep 2014
Byoung-Hyoun Hwang, Baixiao Liu and Dong Lou
Nanyang Business School, Nanyang Technological University, Peking University HSBC Business School and HKUST Business School
Downloads 749 (72,398)
Citation 2

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Stock recommendations, Biased earnings forecasts, Career concerns

'Consistent' Earnings Surprises

Number of pages: 52 Posted: 16 Mar 2011 Last Revised: 09 Sep 2014
Byoung-Hyoun Hwang, Baixiao Liu and Dong Lou
Nanyang Business School, Nanyang Technological University, Peking University HSBC Business School and HKUST Business School
Downloads 241 (271,540)
Citation 1

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Stock recommendations, Biased earnings forecasts, Career concerns

8.

Anticipated and Repeated Shocks in Liquid Markets

Number of pages: 38 Posted: 15 Aug 2010 Last Revised: 03 May 2013
Dong Lou, Hongjun Yan and Jinfan Zhang
HKUST Business School, DePaul University and The Chinese University of Hong Kong (CUHK)
Downloads 933 (54,674)
Citation 74

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Liquidity, Capital mobility, Supply shocks, Treasury auctions

9.

Margin Trading and Leverage Management

Downloads 872 (60,160)
Citation 6

Margin Trading and Leverage Management

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2021-29
Number of pages: 74 Posted: 11 Mar 2021
Jiangze Bian, Zhi Da, Zhiguo He, Dong Lou, Kelly Shue and Hao Zhou
University of International Business and Economics (UIBE), University of Notre Dame - Mendoza College of Business, Stanford University - Knight Management Center, HKUST Business School, Yale School of Management and Tsinghua University - PBC School of Finance
Downloads 772 (69,764)
Citation 6

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margin trading, leverage management, liquidation policy, contagion

Margin Trading and Leverage Management

Number of pages: 74 Posted: 22 Mar 2021
Jiangze Bian, Zhi Da, Zhiguo He, Dong Lou, Kelly Shue and Hao Zhou
University of International Business and Economics (UIBE), University of Notre Dame - Mendoza College of Business, Stanford University - Knight Management Center, HKUST Business School, Yale School of Management and Tsinghua University - PBC School of Finance
Downloads 100 (581,214)

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margin trading, leverage management, liquidation policy, contagion

10.

A Test of the Self-Serving Attribution Bias: Evidence from Mutual Funds

Fourth Singapore International Conference on Finance 2010 Paper
Number of pages: 48 Posted: 03 Mar 2008 Last Revised: 20 Dec 2010
Darwin Choi and Dong Lou
Hong Kong University of Science & Technology (HKUST) - Department of Finance and HKUST Business School
Downloads 759 (72,292)
Citation 15

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Overconfidence, Active Share, Mutual fund performance

11.

Cloaked Trading

Downloads 739 (74,878)
Citation 1

Cloaked Trading

Journal of Investment Consulting, Vol. 17, No. 2, 2016
Number of pages: 15 Posted: 20 Jan 2017 Last Revised: 28 Jan 2017
Lauren Cohen, Dong Lou and Christopher J. Malloy
Harvard University - Business School (HBS), HKUST Business School and Harvard Business School
Downloads 414 (151,795)

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Strategic Trading, Information, Asset Management, Investment

Cloaked Trading

Journal of Investment Consulting, Vol. 17, No. 2, p. 69-80, 2016
Number of pages: 15 Posted: 07 Feb 2017
Lauren Cohen, Dong Lou and Christopher J. Malloy
Harvard University - Business School (HBS), HKUST Business School and Harvard Business School
Downloads 325 (198,751)
Citation 1

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12.

Leverage Network and Market Contagion

PBCSF-NIFR Research Paper
Number of pages: 58 Posted: 28 Sep 2017 Last Revised: 13 Mar 2019
Jiangze Bian, Zhi Da, Dong Lou and Hao Zhou
University of International Business and Economics (UIBE), University of Notre Dame - Mendoza College of Business, HKUST Business School and Tsinghua University - PBC School of Finance
Downloads 610 (95,689)
Citation 19

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Margin trading, leverage, contagion, network centrality

13.

Cross-Market Timing in Security Issuance

AFA 2012 Chicago Meetings Paper
Number of pages: 50 Posted: 23 Mar 2011 Last Revised: 07 Mar 2013
Pengjie Gao and Dong Lou
University of Notre Dame - Mendoza College of Business and HKUST Business School
Downloads 520 (116,906)
Citation 5

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Debt misvaluation, Market timing, Security issuance, Flow-induced trading

14.

Superstar Firms and College Major Choice

Downloads 450 (139,331)
Citation 6

Superstar Firms and College Major Choice

9th Miami Behavioral Finance Conference 2018, HKUST Business School Research Paper No. 2024-152
Number of pages: 76 Posted: 15 Mar 2019 Last Revised: 25 Dec 2024
Darwin Choi, Dong Lou and Abhiroop Mukherjee
Hong Kong University of Science & Technology (HKUST) - Department of Finance, HKUST Business School and Hong Kong University of Science & Technology (HKUST)
Downloads 448 (138,455)
Citation 6

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College Major Choice, Human Capital Investment, Stock Return Skewness, News Tone Skewness, Salience

The Effect of Superstar Firms on College Major Choice

CEPR Discussion Paper No. DP12296
Number of pages: 56 Posted: 20 Sep 2017
Darwin Choi, Dong Lou and Abhiroop Mukherjee
Hong Kong University of Science & Technology (HKUST) - Department of Finance, HKUST Business School and Hong Kong University of Science & Technology (HKUST)
Downloads 2 (1,383,238)
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15.

Maximizing Short-Term Stock Prices through Advertising

Number of pages: 44 Posted: 18 Mar 2010 Last Revised: 30 Nov 2010
Dong Lou
HKUST Business School
Downloads 450 (139,331)
Citation 5

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advertising, catering, insider sales, equity offerings, investor attention

16.

Industry Window Dressing

Number of pages: 78 Posted: 06 Apr 2016
Huaizhi Chen, Lauren Cohen and Dong Lou
University of Notre Dame - Department of Finance, Harvard University - Business School (HBS) and HKUST Business School
Downloads 448 (140,051)
Citation 6

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Industry window dressing, opportunistic management, discontinuity, favorable industries

17.

Bond Supply, Yield Drifts, and Liquidity Provision Before Macroeconomic Announcements

Johns Hopkins Carey Business School Research Paper No. 24-14
Number of pages: 89 Posted: 23 Oct 2022 Last Revised: 20 Nov 2024
Dong Lou, Gabor Pinter and Semih Uslu
HKUST Business School, Bank of England and Johns Hopkins University - Carey Business School
Downloads 411 (154,701)

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Macroeconomic Announcements, Yield Drift, Bond Supply, Liquidity Provision

18.

An Anatomy of Long-Short Equity Funds

Number of pages: 63 Posted: 29 Mar 2021 Last Revised: 26 Feb 2022
Li An, Shiyang Huang, Dong Lou and Jiahong Shi
Tsinghua University - PBC School of Finance, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School and London School of Economics & Political Science (LSE)
Downloads 398 (160,410)

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Long-Short Equity Mutual Funds, Cash Holdings, Portfolio Beta, Fund Performance, Flow-Performance Relations

19.

Informed Trading in Government Bond Markets

Downloads 360 (179,402)
Citation 27

Informed Trading in Government Bond Markets

Number of pages: 46 Posted: 07 Nov 2019 Last Revised: 11 May 2020
Robert Czech, Shiyang Huang, Dong Lou and Tianyu Wang
Bank of England, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School and Tsinghua University, School of Economics and Management
Downloads 244 (268,311)

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government bonds, informed trading, return predictability, asset managers

Informed trading in government bond markets

Bank of England Working Paper No. 871
Number of pages: 55 Posted: 18 Jun 2020
Robert Czech, Shiyang Huang, Dong Lou and Tianyu Wang
Bank of England, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School and Tsinghua University, School of Economics and Management
Downloads 116 (519,278)
Citation 27

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Government bonds, informed trading, return predictability, asset managers

20.

The Rate of Communication

7th Miami Behavioral Finance Conference 2016
Number of pages: 42 Posted: 01 Oct 2016 Last Revised: 04 Aug 2020
Shiyang Huang, Byoung-Hyoun Hwang and Dong Lou
The University of Hong Kong - Faculty of Business and Economics, Nanyang Business School, Nanyang Technological University and HKUST Business School
Downloads 301 (217,767)

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Social Interaction, Investor Communication, Information Diffusion

21.

An Unintended Consequence of Holding Dollar Assets

Bank of England Working Paper No. 953
Number of pages: 84 Posted: 08 Mar 2022 Last Revised: 08 May 2025
Robert Czech, Shiyang Huang, Dong Lou and Tianyu Wang
Bank of England, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School and Tsinghua University, School of Economics and Management
Downloads 233 (282,518)
Citation 5

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Covid crisis, gilt yields, variation margin, FX derivatives, global reserve currency, currency hedging, dollar assets

22.

Ripples into Waves: Trade Networks, Economic Activity, and Asset Prices

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 52 Posted: 05 Oct 2021 Last Revised: 18 Oct 2021
Jinfan Zhang, Huancheng Du, Dong Lou and Christopher Polk
The Chinese University of Hong Kong (CUHK), Central University of Finance and Economics, HKUST Business School and London School of Economics
Downloads 219 (299,839)

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Sovereign CDS, Return predictability, Trade networks, Limited attention, Information aggregation

23.

Offsetting Disagreement and Security Prices

Downloads 194 (336,116)

Offsetting Disagreement and Security Prices

Number of pages: 52 Posted: 03 Feb 2014 Last Revised: 10 Aug 2020
Shiyang Huang, Byoung-Hyoun Hwang, Dong Lou and Chengxi (Adam) Yin
The University of Hong Kong - Faculty of Business and Economics, Nanyang Business School, Nanyang Technological University, HKUST Business School and University of International Business and Economics
Downloads 193 (336,623)

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Investor Disagreement, Belief Crossing, Portfolio Discounts

Offsetting Disagreement and Security Prices

CEPR Discussion Paper No. DP12295
Number of pages: 46 Posted: 20 Sep 2017
Byoung-Hyoun Hwang, Dong Lou and Chengxi (Adam) Yin
Nanyang Business School, Nanyang Technological University, HKUST Business School and University of International Business and Economics
Downloads 1 (1,392,180)
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24.

Inferring Mutual Fund Intra-Quarter Trading: An Application to ESG Window Dressing

PBCSF-NIFR Research Paper
Number of pages: 67 Posted: 04 Oct 2024 Last Revised: 06 Feb 2025
Li An, Shiyang Huang, Dong Lou, Xudong Wen and Mingxin Xu
Tsinghua University - PBC School of Finance, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School, Hong Kong University of Science & Technology (HKUST) and CITIC Securities
Downloads 162 (394,697)

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Mutual Funds, Intra-quarter Trading, Novel Method, ESG, Window Dressing

25.

Inferring Mutual Fund Intra-Quarter Trading: An Application to ESG Window Dressing

HKU Jockey Club Enterprise Sustainability Global Research Institute Paper No. 2024/002, HKUST Business School Research Paper No. 2024-182, PBCSF-NIFR Research Paper
Number of pages: 67 Posted: 10 Oct 2024 Last Revised: 06 Feb 2025
Li An, Shiyang Huang, Dong Lou, Xudong Wen and Mingxin Xu
Tsinghua University - PBC School of Finance, The University of Hong Kong - Faculty of Business and Economics, HKUST Business School, Hong Kong University of Science & Technology (HKUST) and CITIC Securities
Downloads 142 (440,214)

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Mutual Funds, Intra-quarter Trading, Novel Method, ESG, Window Dressing

26.

Wealth Redistribution in Bubbles and Crashes

CEPR Discussion Paper No. DP15029
Number of pages: 55 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Dong Lou
HKUST Business School
Downloads 6 (1,302,229)
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bubbles and crashes, market participation, social impact, Wealth Inequality

27.

The Booms and Busts of Beta Arbitrage

CEPR Discussion Paper No. DP11531
Number of pages: 61 Posted: 26 Sep 2016
Shiyang Huang, Dong Lou and Christopher Polk
The University of Hong Kong - Faculty of Business and Economics, HKUST Business School and London School of Economics
Downloads 3 (1,318,520)
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betting against beta, crowded trades, positive-feedback trading

28.

Informed Trading in Government Bond Markets

CEPR Discussion Paper No. DP15028
Number of pages: 49 Posted: 28 Jul 2020 Last Revised: 16 Aug 2020
Dong Lou
HKUST Business School
Downloads 2 (1,324,071)
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asset managers, Government bonds, Informed trading, return predictability

29.

Bond supply, yield drifts, and liquidity provision before macroeconomic announcements

Bank of England Working Paper No. 998
Posted: 24 Jan 2023 Last Revised: 29 Oct 2024
Gabor Pinter, Semih Uslu and Dong Lou
Bank of England, Johns Hopkins University - Carey Business School and HKUST Business School

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bond supply, Macroeconomics announcements, yield drift, liquidity provision