Professor of Finance
Fudan International School of Finance
Fudan University, Shanghai 200433, China
chenh@fudan.edu.cn
http://scholar.google.com/citations?user=xqIQjpEAAAAJ
https://sites.google.com/view/huafengjasonchen/
Publications
Asset Pledgeability and Firm Innovation, with Xiaofei Pan, Meijun Qian, Yiping Wu, and Qing Xia, Research Policy, forthcoming.
The Number of Estimates in Footnotes and Accruals, with Jason V. Chen and Feng Li, 2024, Management Science 70(1), 283-308.
Predicting Returns Out of Sample: A Naïve Model Averaging Approach, with Liang Jiang and Weiwei Liu, 2023, Review of Asset Pricing Studies 13(3), 579-614.
Measuring Operating Leverage, with Jason V. Chen, Feng Li, and Pengfei Li, 2022, Review of Asset Pricing Studies 12(1), 112-154.
Operating Leverage Factors (1963-2020)
Empirical Investigation of an Equity Pairs Trading Strategy, with Shaojun Chen, Zhuo Chen, and Feng Li, 2019, Management Science, 65(1), 370-389.
Finalist, PanAgora Asset Management Crowell Prize
Do Cash Flows of Growth Stocks Really Grow Faster?, 2017, Journal of Finance 72(5), 2279-2330. Internet Appendix
A Top 20 Most Read Article in Journal of Finance 2017-2018
Winner of Chartered Business Valuators Award for the Best Paper on Business Valuation at the Northern Finance Association Meeting
Presented at NBER Asset Pricing workshop, Duke/UNC Asset Pricing conference, WFA
On reading list in Ph.D. course at UIUC
Do Non-financial Stakeholders Affect the Pricing of Risky Debt? Evidence from Unionized Workers, with Marcin Kacperczyk and Hernan Ortiz-Molina, April 2012, Review of Finance 16 (2), 347-383.
Spängler IQAM Prize for Best Paper in the Review of Finance (runner-up)
Presented at AFA
On reading list in Ph.D. course at NYU
Investment-Cash Flow Sensitivity Cannot Be a Good Measure of Financial Constraints: Evidence from the Time Series, with Shaojun Chen, Feb. 2012, Journal of Financial Economics 103 (2), 393-410.
Average Stock Variance and Market Returns: Evidence of Time-Varying Predictability at the Daily Frequency, with Hernan Ortiz-Molina and Siliang Zhang, Summer 2011, Journal of Portfolio Management 37 (4), 86-95.
Firm Life Expectancy and the Heterogeneity of the Book-to-Market Effect, May 2011, Journal of Financial Economics 100 (2), 402-423.
Presented at WFA
On reading list in Ph.D. course at UIUC
Labor Unions, Operating Flexibility, and the Cost of Equity, with Marcin Kacperczyk and Hernan Ortiz-Molina, Feb. 2011, Journal of Financial and Quantitative Analysis 46 (1), 25-58.
Presented at AFA
On reading list in Ph.D. course at University of Georgia
Selected Working Paper