Carl H. Lindner College of BusinessCarl H. Lindner College of BusinessUniversity of Cincinnati

Carl H. Lindner College of Business

Hui Guo, PhD

Professor/Briggs Swift Cunningham Professorship of Finance
Professional Summary
Hui Guo
Hui Guo is a Professor of Finance at the Carl H. Lindner College of Business. He currently serves as the Finance PhD Program coordinator and holds Briggs Swift Cunningham Professorship of Finance. He has a Ph.D. in economics from New York University.
Contact Information
E-mail:
Office:
418 Carl H. Lindner Hall
Phone:
513-556-7077
Fax:
513-556-0979
Teaching Interest
  • empirical mehtods in finance, fixed income, international economics.
Research Interest
  • http://homepages.uc.edu/~guohu/
  • Professor Guo's research interests include the relation between risk and return in the stock market, stock return predictability, idiosyncratic volatility, the dynamics of stock market volatility, and institutional trading. He has published in academic journals such as the Journal of Finance, the Review of Financial Studies, the Journal of Accounting Research, the Journal of Business, the Journal of Financial and Quantitative Analysis, the Contemporary Accounting Research, the Journal of Business and Economics Statistics, the Journal of Money, Credit, and Banking, the Financial Management, and the Journal of Banking and Finance, as well as practitioner journals such as the Journal of Portfolio Management. His article on the risk-return tradeoff in the stock market was nominated for the 2006 Smith-Breeden Prize for the best article published in the Journal of Finance.
History

Institution:
Federal Reserve Bank of St. Louis
Title:
Economist and Senior Economist
End Date:
2007-08-17


Assignments

Description
Finance Department Doctoral Program Coordinator: admission; surpervising current students; curriculum innovations; organizing brownbag seminars, comprehensive exams, and second year papers; and doctoral student placements.
Dates:
2014-09-01



Awards | Honors



Organization:
8th Financial Markets and Corporate Governance conference
Name:
Best Paper Award
Year Received:
2017


Organization:
University of Sydney
Name:
Visiting Professor, March 2016
Year Received:
2016


Organization:
Dongbei University of Finance and Economics
Name:
Special Term Professor
Year Received:
2016


Organization:
Wuhan University, China
Name:
Luojia Chair Professor
Year Received:
2012


Organization:
Southwest Finance Association
Name:
2012 AAII Best Paper in Investments
Year Received:
2012


Organization:
Chicago Quantitative Alliance
Name:
Chicago Quantitative Alliance Academic Competition Second Prize Award
Year Received:
2011


Organization:
American Finance Association
Name:
Finalist for Smith Breeden Prize
Year Received:
2007


Organization:
Department of Economics, New York University
Name:
C. V. Starr Center Dissertation Fellowship
Year Received:
1999


Education

Institution:
New York University
Location:
NY, NY
Major:
Economics
Dissertation:
Business Conditions and Asset Prices: Evidence and Theory
Completed:
2000
Degree:
Ph D


Institution:
University of New Hampshire
Location:
Durham, New Hampshire
Major:
Economics
Completed:
1994
Degree:
MA


Institution:
Wuhan University
Location:
Wuhan, China
Major:
Economics
Completed:
1992
Degree:
BS


Published Contributions

Hui Guo, Chaojiang Wu, Yan Yu,  (2017). Time-Varying Beta and the Value Premium. Journal of Financial and Quantitative Analysis, 1551-1576.


Hui Guo, Buhui Qiu,  (2016). A Better Measure of Institutional Informed Trading. Contemporary Accounting Research, 815–850 .


Shaonan Tian, Yan Yu, Hui Guo,  ,  (2015). Variable Selection and Corporate Bankruptcy Forecasts. Journal of Banking and Finance, 89-100.


Michael Ferguson, Hui Guo, Haimont Kassa,  (2014). On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns. Journal of Financial and Quantitative Analysis, 271-295.


Hui Guo, Buhui Qiu,  (2014). Options-Implied Variance and Future Stock Returns. Journal of Banking and Finance/Elsevier B.V., 93-113.


Hui Guo, Zijun Wang, Jian Yang,  (2013). Time-Varying Risk-Return Tradeoff in the Stock Market. Journal of Money, Credit, and Banking/Ohio State University, 623-650.


Adam A. Ding, Shaonan Tian, Yan Yu, Hui Guo,  (2012). A Class of Discrete Transformation Survival Model with Application to Default Probability Prediction . Journal of the American Statistical Association, 990-1003.


Hui Guo,  (2011). IPO First-Day Return and Ex Ante Equity Premium. Journal of Financial and Quantitative Analysis/Cambridge University Press, 871-905 .


Hui Guo, Xiaowen Jiang,  (2011). Accruals and Conditional Equity Premium. Journal of Accounting Research/University of Chicago, 187-221.


Hui Guo, Robert Savickas,  ,  ,  (2010). The Relation between Time-Series and Cross-Sectional Effects of Idiosyncratic Variance on Stock Returns in G7 Countries. Journal of Banking an Finance/Elsevier, 1637-1649.


Hui Guo, Robert Savickas, Jian Yang, Zijun Wang,  (2009). Is the Value Premium a Proxy for Time-Varying Investment Opportunities: Some Time Series Evidence. Journal of Financial and Quantitative Analysis, 133-154.


Hui Guo,  (2009). Data Revisions and Out-of-Sample Stock Return Predictability. Economic Inquiry, 81-97.


Hui Guo, chris Neely, Jason Higbee,  (2008). Foreign Exchange Volatility is Priced in Equities. Financial Management, 769-790.


Hui Guo, Robert Savickas,  (2008). Average Idiosyncratic Volatility in G7 Countries. Review of Financial Studies, 1259-1296.


Hui Guo, Robert Savickas,  (2008). Forecasting Foreign Exchange Rates Using Idiosyncratic Volatility. Journal of Banking and Finance, 1322-1332.


Hui Guo, Chris Neely,  (2008). Investigating the Intertemporal Risk-Return Relation in International Stock Markets with the Component GARCH Model. Economics Letters, 371-374.


Hui Guo, Jason Higbee,  ,  (2007). Market Timing with Aggregate and Idiosyncratic Stock Volatilities. Journal of Portfolio Management, .


Hui Guo, Jian Yang, Zijun Wang,  (2006). International Transmission of Inflation among G-7 Countries: A Data-Determined VAR Analysis. Journal of Banking and Finance, , 2681-2700.


Hui Guo,  (2006). On the Out-of-Sample Predictability of Stock Market Returns. Journal of Business, 645-670 .


Hui Guo,  (2006). On the Risk-Return Relation in International Stock Markets. Financial Review, 565-587.


Hui Guo,  (2006). Time-Varying Risk Premia and the Cross Section of Stock Returns. Journal of Banking and Finance, 2087-2107.


Hui Guo, Robert Whitelaw,  (2006). Uncovering the Risk-Return Relation in the Stock Market. Journal of Finance, 1433-1463.


Hui Guo, Robert Savickas,  (2006). Idiosyncratic Volatility, Stock Market Volatility, and Expected Stock Returns. Journal of Business and Economic Statistics, 43-56.


Hui Guo,  Kevin  Kliesen,  (2005). Oil Price Volatility and U.S. Macroeconomic Activity, . Federal Reserve Bank of St. Louis Review, 669-83.


Hui Guo,  (2004). A Rational Pricing Explanation for the Failure of the CAPM. Federal Reserve Bank of St. Louis Review, , 23-33.


Hui Guo,  (2004). Limited Stock Market Participation and Asset Prices in a Dynamic Economy. Journal of Financial and Quantitative Analysis, 495-516.


Hui Guo,  (2004). Stock Prices, Firm Size, and Changes in the Federal Funds Rate Target . Quarterly Review of Economics and Finance, 487-507.


Hui Guo,  (2002). Stock Market Returns, Volatility, and Future Output. Federal Reserve Bank of St. Louis Review, 75-86.


Hui Guo,  (2002). Why Are Stock Market Returns Correlated with Future Economic Activities. Federal Reserve Bank of St. Louis Review, 19-34.


Hui Guo,  (2001). A Simple Model of Limited Stock Market Participation. Federal Reserve Bank of St. Louis Review, 37-47.



Accepted Contributions

Hui Guo, Sandra Mortal, Robert Savickas, Robert Wood,  (Accepted). Market Illiquidity and Conditional Equity Premium. Financial Management.




Research in progress

Title:
Information Asymmetry Measures and Their Effects on Cost of Equity





Title:
Stock Repurchase and Short-run Reversal


Status:
On-Going

Research Type:
Scholarly


Presentations

Title:
Conditional Equity Premium and Aggregate Investment: Is the Stock Market a Sideshow?
Organization:
LSU
Location:
Baton Rouge
Year:
2017


Title:
Good Jumps, Bad Jumps, and Conditional Equity Premium
Organization:
National Bureau of Economic Research
Location:
Evanston, Illinois
Year:
2017


Title:
A Simple Model that Helps Explaining the Accruals Anomaly
Organization:
Midwest Finance Association
Location:
Chicago
Year:
2017


Title:
What Moves Aggregate Investment (and Net Hiring): Investor Sentiment or Time-Varying Equity Premium
Organization:
University of Sydney Business School
Location:
Sydney
Year:
2016


Title:
Good Jumps, Bad Jumps, and Conditional Equity Premium
Organization:
American Finance Association
Location:
San Francisco
Year:
2016


Title:
What Moves Aggregate Investment (and Net Hiring): Investor Sentiment or Time-Varying Equity Premium
Organization:
Fudan University
Location:
Shanghai
Year:
2015


Title:
What Moves Aggregate Investment (and Net Hiring): Investor Sentiment or Time-Varying Equity Premium
Organization:
Wuhan University
Location:
Wuhan, China
Year:
2015


Title:
What Moves Aggregate Investment (and Net Hiring): Investor Sentiment or Time-Varying Equity Premium?
Organization:
Shanghai University of Finance and Economics
Location:
Shanghai, China
Year:
2015


Title:
Good Jumps, Bad Jumps, and Conditional Equity Premium
Organization:
Department of Economics, New York University
Location:
New York City
Year:
2015


Title:
Uncovering the Relation between Aggregate Stock Illiquidity and Expected Excess Market Returns
Organization:
Central University of Finance and Economics
Location:
Beijing, China
Year:
2015


Title:
A Better Measure of Institutional Informed Trading
Organization:
Wuhan University
Location:
Wuhan, China
Year:
2015


Title:
Good Jumps, Bad Jumps, and Conditional Equity Premium
Organization:
Dongbei University of Finance and Economics
Location:
Dalian, China
Year:
2015


Title:
Stock Splits and Conditional Value Premium
Organization:
zhongnan university of economics and law
Location:
Wuhan, China
Year:
2014


Title:
Doctoral Course of Asset Pricing
Organization:
Wuhan University
Location:
Wuhan, China
Year:
2014


Title:
A better measure of institutional Informed Trading
Organization:
Northern Finance Association
Location:
Ottawa
Year:
2014


Title:
On the time-varying conditional value premium
Organization:
University of Dayton, Department of Finance
Location:
Dayton, US
Year:
2014


Title:
Stock Market Return Predictability
Organization:
Economics and Management School, Wuhan University
Location:
Wuhan, China
Year:
2013


Title:
stock market return predictability: Theories
Organization:
Rotterdam School of Management
Location:
Netherlands
Year:
2013


Title:
On the Time-Varying Conditional Value Premium
Organization:
Rotterdam School of Business
Location:
Totterdam, Netherlands
Year:
2013


Title:
stock market return predictability: Empirics
Organization:
Rotterdam School of Management
Location:
Netherlands
Year:
2013


Title:
Time-Varying Risk-Return Tradeoff in the Stock Market
Organization:
University of Texas A&M Department of Econ
Location:
College Station Texas
Year:
2013


Title:
On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns
Organization:
Eastern Finance Association
Location:
Boston, MA
Year:
2012


Title:
On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns
Organization:
Southwest Finance Association
Location:
New Orleans, LA
Year:
2012


Title:
Aggregate Distress Risk is Priced with a Positive Premium
Organization:
American Accounting Association
Location:
Chciago
Year:
2012


Title:
On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns
Organization:
Financial Management Association
Location:
Key West, FL
Year:
2011


Title:
On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns
Location:
Key West
Year:
2011


Title:
On the Relation between EGARCH Idiosyncratic Volatility and Expected Stock Returns
Organization:
Financial Management Association
Location:
Denver, CO
Year:
2011


Title:
Stock Splits and Conditional Value Premium
Organization:
FMA
Location:
Denver
Year:
2011


Title:
Options-Implied Variance and Future Stock Returns
Organization:
Xiamen University
Location:
Xiamen, China
Year:
2011


Title:
Options-Implied Variance and Future Stock Returns
Organization:
Wuhan University
Location:
Wuhan, China
Year:
2011


Title:
Stock Splits and Conditional Value Premium
Organization:
EFA
Location:
Savannah
Year:
2011


Title:
Stock Splits and Conditional Value Premium
Organization:
MFA
Location:
Chicago
Year:
2011


Title:
Stock Splits and Conditional Value Premium
Organization:
Department of Finance, Kentucky University
Location:
Kentucky University
Year:
2011


Title:
Stock Splits and Conditional Value Premium
Organization:
School of Management, Xiamen University
Location:
Xiamen, China
Year:
2010


Title:
Does Aggregate Relative Risk Aversion Change over Time?
Organization:
Wang Yanan Institute of Economic Research, Xiamen University
Location:
Xiamen University
Year:
2010


Title:
Aggregate Distress Risk is Priced with a Positive Premium
Organization:
CRSP
Location:
Chciago
Year:
2010


Title:
Aggregate Distress Risk is Priced with a Positive Premium
Organization:
Financial Management Association
Location:
New York City
Year:
2010


Title:
Average Idiosyncratic Variance and Expected Stock Market Returns: Some Further Evidence
Organization:
Northern Illinois University
Location:
DeKalb, Illilois
Year:
2010


Title:
Aggregate Distress Risk is Priced with a Positive Premium
Organization:
Ohio University
Location:
Athen, OH
Year:
2010


Title:
Uncovering the Relation between Aggregate Stock Illiquidity and Expected Excess Market Returns
Organization:
EDHEC
Location:
NICE, FRANCE
Year:
2010


Title:
Uncovering the Relation between Aggregate Stock Illiquidity and Expected Excess Market Returns
Organization:
hong kong university
Location:
hong knog, china
Year:
2009


Title:
Accruals and Conditional Equity Premium
Organization:
Financial Management Association
Location:
Reno,Navada
Year:
2009


Title:
Uncovering the Relation between Aggregate Stock Illiquidity and Expected Excess Market Returns
Organization:
Wuhan University
Location:
Wuhan, China
Year:
2009


Title:
IPO First-Day Return and Ex Ante Equity Premium
Organization:
Tsinghua University and MIT
Location:
Guangzhou, China
Year:
2009


Title:
Uncovering the Relation between Aggregate Stock Illiquidity and Expected Excess Market Returns
Organization:
Chicago Quantitative Alliance
Location:
chicago, Illinois
Year:
2009


Title:
Accruals and conditional equity premium
Organization:
AAA
Location:
New Orleans, LA
Year:
2009


Organization:
European Financial Management Association
Year:
2007


Organization:
Finanical Management Association
Year:
2007


Organization:
Financial Management Association
Year:
2007


Organization:
Hong Kong University of Science and Technology
Location:
Hong Kong, China
Year:
2007


Organization:
loyola university in Chicago
Year:
2007


Organization:
Nanyang Technological University
Location:
Singapore
Year:
2007


Organization:
Singapore Management University
Location:
Singapore
Year:
2007


Organization:
university of cincinnati
Year:
2007


Organization:
Univerisyt of Cincinnati
Year:
2007


Organization:
University of Kansas
Year:
2007


Title:
Average Idiosyncratic Variance and Expected Stock Market Returns: Some Further Evidence
Organization:
Hong Kong University
Location:
Hong Kong
Year:
2007


Title:
The Relation between Time-Series and Cross-Sectional Effects of Idiosyncratic Variance on Stock Returns in G7 Countries
Organization:
Copenhagen Business School
Location:
Copenhagen
Year:
2007


Organization:
University of Chicago
Year:
2006


Organization:
Financial Management Association
Year:
2006


Organization:
Financial Management Association
Year:
2006


Location:
University of Missouri
Year:
2006


Organization:
university of Missouri at Columbia
Year:
2006


Organization:
Washington Area Finance Association
Year:
2006


Organization:
Eastern Finance Association
Year:
2005


Organization:
George Washington University
Year:
2005


Organization:
Financial Management Association
Location:
Chicago
Year:
2005


Title:
Idiosyncratic Volatility, Stock Market Volatility, and Expected Stock Returns
Organization:
American Finance Association
Location:
Philadelphia, PA
Year:
2005


Organization:
Financial Management Association
Year:
2004


Location:
University of Missouri Columbia
Year:
2004


Organization:
University of New Hampshire
Year:
2004


Organization:
Eurpoean Financial Management Association
Year:
2003


Organization:
Financial Management Association
Year:
2003


Organization:
Financial Management Association
Year:
2003


Organization:
George Washington University
Year:
2003


Title:
Time-Varying Risk Premia and the Cross Section of Stock Returns
Organization:
University of Missouri at Columbia
Location:
Columbia, MO
Year:
2003


Organization:
midwest Finance association
Year:
2003


Organization:
Eastern Finance Association
Year:
2002


Year:
2002


Location:
University of Misouri at Columbia
Year:
2002


Organization:
Washington Area Finance Association
Year:
2002


Title:
Limited Stock Market Participation and Asset Prices in a Dynamic Economy
Organization:
Federal Reserve System
Location:
Washington D.C.
Year:
2001


Organization:
federal reserve bank of dallas
Year:
2000


Organization:
Federal Reserve Bank of St. louis
Year:
2000