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Hui Chen

Massachusetts Institute of Technology

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Cambridge, MA 02142

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SCHOLARLY PAPERS

15

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CITATIONS
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186

Scholarly Papers (15)

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1.

Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure

Downloads 2,469 ( 3,798)
Citation 72

Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure

Journal of Finance, Forthcoming
Number of pages: 58 Posted: 30 Sep 2009
Hui Chen
Massachusetts Institute of Technology
Downloads 2,389 (3,944)
Citation 72

Abstract:

capital structure, credit spread, default risk, business cycle, default losses

Macroeconomic Conditions and the Puzzles of Credit Spreads and Capital Structure

NBER Working Paper No. w16151
Number of pages: 59 Posted: 07 Jul 2010
Hui Chen
Massachusetts Institute of Technology
Downloads 80 (256,371)
Citation 72

Abstract:

2.

Market Timing, Investment, and Risk Management

Downloads 1,695 ( 7,336)
Citation 14

Market Timing, Investment, and Risk Management

AFA 2012 Chicago Meetings Paper
Number of pages: 59 Posted: 16 Mar 2010 Last Revised: 29 Mar 2012
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 1,659 (7,468)
Citation 14

Abstract:

risk management, liquidity, financial crisis, market timing, investment, q theory

Market Timing, Investment, and Risk Management

NBER Working Paper No. w16808
Number of pages: 55 Posted: 28 Feb 2011
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 36 (377,738)
Citation 14

Abstract:

3.

A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management

Downloads 1,293 ( 11,396)
Citation 34

A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management

Journal of Finance, Forthcoming , AFA 2010 Atlanta Meetings Paper
Number of pages: 50 Posted: 19 Mar 2009 Last Revised: 12 Jul 2011
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 1,118 (14,020)
Citation 33

Abstract:

investment, q theory, cash management, liquidity, hedging, payout, financing

A Unified Theory of Tobin's Q, Corporate Investment, Financing, and Risk Management

NBER Working Paper No. w14845
Number of pages: 57 Posted: 07 Apr 2009
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 175 (141,065)
Citation 34

Abstract:

4.

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads

Downloads 1,085 ( 14,983)
Citation 4

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads

Number of pages: 66 Posted: 21 Mar 2012 Last Revised: 05 Aug 2013
Hui Chen, Yu Xu and Jun Yang
Massachusetts Institute of Technology, The University of Hong Kong - Faculty of Business and Economics and Bank of Canada
Downloads 1,077 (14,878)
Citation 4

Abstract:

credit risk, term structure, business cycle, maturity dynamics, liquidity

Systematic Risk, Debt Maturity, and the Term Structure of Credit Spreads

NBER Working Paper No. w18367
Number of pages: 62 Posted: 08 Sep 2012
Hui Chen, Yu Xu and Jun Yang
Massachusetts Institute of Technology, The University of Hong Kong - Faculty of Business and Economics and Bank of Canada
Downloads 8 (524,607)
Citation 4

Abstract:

5.

Rare Disasters and Risk Sharing with Heterogeneous Beliefs

Downloads 721 ( 27,381)
Citation 12

Rare Disasters and Risk Sharing with Heterogeneous Beliefs

AFA 2011 Denver Meetings Paper
Number of pages: 49 Posted: 18 Mar 2010 Last Revised: 02 Sep 2013
Hui Chen, Scott Joslin and Ngoc-Khanh Tran
Massachusetts Institute of Technology, University of Southern California and Washington University in Saint Louis - John M. Olin Business School
Downloads 686 (28,870)
Citation 12

Abstract:

Rare Disasters and Risk Sharing with Heterogeneous Beliefs

NBER Working Paper No. w16035
Number of pages: 52 Posted: 04 Jun 2010
Hui Chen, Scott Joslin and Ngoc-Khanh Tran
Massachusetts Institute of Technology, University of Southern California and Washington University in Saint Louis - John M. Olin Business School
Downloads 35 (381,664)
Citation 12

Abstract:

6.

Debt, Taxes, and Liquidity

Downloads 684 ( 29,437)

Debt, Taxes, and Liquidity

Columbia Business School Research Paper No. 14-17
Number of pages: 43 Posted: 13 Mar 2014 Last Revised: 22 Nov 2014
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 671 (29,796)

Abstract:

Capital structure, liquidity, cash, financing frictions, marginal tax benefit of debt, tradeoff theory

Debt, Taxes, and Liquidity

NBER Working Paper No. w20009
Number of pages: 61 Posted: 31 Mar 2014
Patrick Bolton, Hui Chen and Neng Wang
Columbia Business School - Department of Economics, Massachusetts Institute of Technology and Columbia Business School - Finance and Economics
Downloads 13 (496,670)

Abstract:

7.

Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty

Downloads 660 ( 30,954)

Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty

Number of pages: 75 Posted: 22 Jun 2012 Last Revised: 16 Sep 2013
Hui Chen, Michael Michaux and Nikolai L. Roussanov
Massachusetts Institute of Technology, University of Southern California - Marshall School of Business and University of Pennsylvania - The Wharton School
Downloads 650 (31,077)

Abstract:

mortgage refinancing, home equity, housing collateral, liquidity constraints, household consumption and saving decisions, leverage

Houses as Atms? Mortgage Refinancing and Macroeconomic Uncertainty

NBER Working Paper No. w19421
Number of pages: 76 Posted: 20 Sep 2013
Hui Chen, Michael Michaux and Nikolai L. Roussanov
Massachusetts Institute of Technology, University of Southern California - Marshall School of Business and University of Pennsylvania - The Wharton School
Downloads 10 (513,790)

Abstract:

8.

Entrepreneurial Finance and Nondiversifiable Risk

Downloads 660 ( 30,954)
Citation 14

Entrepreneurial Finance and Nondiversifiable Risk

Review of Financial Studies, Forthcoming
Number of pages: 64 Posted: 27 Mar 2009 Last Revised: 07 Jul 2010
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 616 (33,477)
Citation 14

Abstract:

default, diversification benefits, entrepreneurial risk aversion, incomplete markets, idiosyncratic risk premium, hedging, capital structure, cash-out option, precautionary saving

Entrepreneurial Finance and Non-Diversifiable Risk

NBER Working Paper No. w14848
Number of pages: 45 Posted: 07 Apr 2009
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 44 (349,074)
Citation 14

Abstract:

9.

Generalized Transform Analysis of Affine Processes and Applications in Finance

Downloads 567 ( 37,910)
Citation 7

Generalized Transform Analysis of Affine Processes and Applications in Finance

Number of pages: 43 Posted: 17 Feb 2009 Last Revised: 22 Sep 2011
Hui Chen and Scott Joslin
Massachusetts Institute of Technology and University of Southern California
Downloads 551 (38,831)
Citation 7

Abstract:

option pricing, recovery risk, stochastic discount factor, characteristic function, Fourier transform

Generalized Transform Analysis of Affine Processes and Applications in Finance

NBER Working Paper No. w16906
Number of pages: 66 Posted: 28 Mar 2011
Hui Chen and Scott Joslin
Massachusetts Institute of Technology and University of Southern California
Downloads 16 (479,361)
Citation 7

Abstract:

10.

Dynamic Asset Allocation with Ambiguous Return Predictability

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 02 Mar 2009 Last Revised: 14 Apr 2011
Hui Chen, Nengjiu Ju and Jianjun Miao
Massachusetts Institute of Technology, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Boston University - Department of Economics
Downloads 558 (31,201)
Citation 15

Abstract:

generalized recursive ambiguity utility, ambiguity aversion, model uncertainty, learning, portfolio choice, robustness, return predictability

11.

Demand for Crash Insurance, Intermediary Constraints, and Risk Premia in Financial Markets

AFA 2013 San Diego Meetings Paper
Number of pages: 68 Posted: 19 Mar 2012 Last Revised: 20 Jan 2016
Hui Chen, Scott Joslin and Sophie X. Ni
Massachusetts Institute of Technology, University of Southern California and Hong Kong University of Science and Technology
Downloads 556 (18,715)

Abstract:

Intermediary constraint, tail risk, SPX option, return predictability, supply shocks, leverage

12.

Measuring the 'Dark Matter' in Asset Pricing Models

Number of pages: 133 Posted: 19 Sep 2013 Last Revised: 09 Mar 2016
Hui Chen, Winston Wei Dou and Leonid Kogan
Massachusetts Institute of Technology, The Wharton School, University of Pennsylvania and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 392 (32,371)
Citation 1

Abstract:

Cross-equation restriction; Information theory; Limited information likelihood; Model fragility and complexity; Robustness; Disaster risk; Long-run risk

13.

Stock Return Volatility and Capital Structure Decisions

PBCSF-NIFR Research Paper No. 13-04
Number of pages: 42 Posted: 29 Oct 2013 Last Revised: 19 Feb 2016
Hui Chen, Hao Wang and Hao Zhou
Massachusetts Institute of Technology, Tsinghua University and Tsinghua University - PBC School of Finance
Downloads 230 (58,560)

Abstract:

Stock Return Volatility, Leverage Ratio, Surprise Shocks, Idiosyncratic Volatility, Uncertainty

14.

Macroeconomic Risk and Debt Overhang

Number of pages: 52 Posted: 12 Nov 2014
Hui Chen and Gustavo Manso
Massachusetts Institute of Technology and University of California, Berkeley - Haas School of Business
Downloads 48 (154,322)
Citation 8

Abstract:

15.

Quantifying Liquidity and Default Risks of Corporate Bonds Over the Business Cycle

NBER Working Paper No. w20638
Number of pages: 61 Posted: 03 Nov 2014
Hui Chen, Rui Cui, Zhiguo He and Konstantin Milbradt
Massachusetts Institute of Technology, University of Chicago - Finance, University of Chicago - Booth School of Business, and NBER and Northwestern University - Kellogg School of Management - Department of Finance
Downloads 16 (461,859)
Citation 1

Abstract:

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