Hui Chen

Faculty

Hui Chen

About

Hui Chen is an Associate Professor of Finance at the MIT Sloan School of Management.

His research focuses on asset pricing and its connections with corporate finance. Chen is particularly interested in the interactions between the macro economy and term structure, credit risk, and corporate financing or investment decisions. His recent research projects include application of business cycle models to explain corporate financing behavior and corporate bond pricing, as well as analysis of the effects of incomplete markets on entrepreneurial financing and investments.

Chen holds a BA in economics and finance from Zhongshan University, an MS in mathematics from the University of Michigan, and a PhD in finance from the University of Chicago.

Current Research Focus:  Professor Chen’s current projects include one on the link between debt maturity and credit risk. For firms, the project studies how they should manage their debt maturity structure over the business cycle to reduce the risks of financial distress and default. For investors, the study shows how that information about the debt maturity dynamics has important effects on corporate bond valuation. In another project, Professor Chen examines cash and debt management for financially constrained firms.

Publications

"Credit Risk and the Macroeconomy: A Survey."

Chen, Hui. Annual Review of Financial Economics. Forthcoming.

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

Chen, Hui, Scott Joslin, and Sophie Ni. Review of Financial Studies. Forthcoming.

"Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle."

Chen, Hui, Rui Cui, Zhiguo He, and Konstantin Milbradt. Review of Financial Studies. Forthcoming.

"Macroeconomic Risk and Debt Overhang."

Chen, Hui, and Gustavo Manso. Review of Corporate Finance Studies Vol. 6, No. 1 (2017): 1-38.

"Dynamic Asset Allocation with Ambiguous Return Predictability."

Chen, Hui, Nengjiu Ju and Jianjun Miao. Review of Economic Dynamics Vol. 17, No. 4 (2014): 799-823.

"Measuring the 'Dark Matter' in Asset Pricing Models."

Hui Chen, Leonid Kogan and Winson Wei Dou. Springdale, UT: September 2013.

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