Last update: June 4 2014

Frederico Belo

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Associate Professor of Finance
University of Minnesota
Carlson School of Management
321 19th Ave S
Minneapolis, MN, 55455 USA
email: fbelo_at_umn.edu

Faculty Research Fellow, National Bureau of Economic Research

Associate Editor, Management Science


CV

My SSRN page here

My Google Scholar page here


Publications

[1] Production-Based Measures of Risk for Asset Pricing, 2010, Journal of Monetary Economics, 57(2), 146-163.  (Data and Internet Appendix)

[2] The Inventory Growth Spread (with Xiaoji Lin), 2012, Review of Financial Studies, 25 (1), 278-313.

 

[3] Government Spending, Political Cycles and the Cross Section of Stock Returns (with Vito Gala and Jun Li), 2013, Journal of Financial Economics, 107(2), 305-324 Slides

- Winner of 2011 Crowell Memorial Prize (third prize), PanAgora Asset Management

- Media: Financial Times (Oct. 31, 2012); Financial Times (Nov. 3, 2012);

- Summary at Business Strategy Review, Vol. 24, Issue 2, pp. 76-77, 2013. Executive summary here

 

[4] Government Investment and the Stock Market (with Jianfeng Yu), 2013, Journal of Monetary Economics, 60(3), 325-339. Online appendix

 

[5] A Supply Approach to Valuation (with Chen Xue and Lu Zhang), 2013, Review of Financial Studies, 26 (12), 3029-3067. Online appendix

 

[6] Brand Capital and Firm Value (with Maria Ana Vitorino and Xiaoji Lin), 2014, Review of Economic Dynamics, 17(1) 150-169

 

[7] Labor Hiring, Investment and Stock Return Predictability in the Cross Section (with Xiaoji Lin and Santiago Bazdresch), 2014, Journal of Political Economy, 122(1), 129-177. Online appendix

[8] Dividend Dynamics and the Term Structure of Dividend Strips (with Bob Goldstein and Pierre Collin-Dufresne), 2014, Journal of Finance, forthcoming. Online appendix

Working Papers

Labor Heterogeneity and Asset Prices: the Importance of Skilled Labor (with Xiaoji Lin and Jun Li) (Feb 2013)

External Equity Financing Costs, Financial Flows, and Asset Prices (with Xiaoji Lin and Fan Yang) (May 2014)

Drafts in Preparation

Decomposing Firm Value (with Chen Xue and Vito Gala)

Production-Based Bond Pricing

Technological Diversification and Asset Prices (with Vasco Carvalho) (Sep 2012)

Teaching

University of Pennsylvania, Wharton School

 

Corporate Finance (Honors Sections) (UG): Fall 2011

(Average Teaching Evaluation: 3.5 on a 0-4 scale – Evaluation report here)

 

University of Minnesota, Carlson School of Management

 

Portfolio Management and Performance Evaluation (UG): 2006-2014

(Average Teaching Evaluation: 5.7 out of 6)

 

Empirical Methods in Finance (Ph.D.): Spring 2007-2010, 2014

(Average Teaching Evaluation: 5.8 out of 6)

 

Theory of Capital Markets (Ph.D.): Fall 2007-2010

(Average Teaching Evaluation: 5.8 out of 6)

 

Advanced Asset Pricing Readings (Ph.D.): Fall 2010, 2012
   (Average Teaching Evaluation: N.A.)

 

Professional Discussions

 "Local Risk, Local Factors, and Asset Prices" by Selale Tuzel and Miao (Ben) Zhang, Western Finance Association, June 2014 (scheduled)

 "Technological Innovation, Resource Allocation and Growth" by Leonid Kogan, Dimitris Papanikolaou, Amit Seru, and Noah Stoffman, University of Minnesota Macro-Finance Conference, May 2014

 "A Labor Capital Asset Pricing Model" by Lars-Alexander Kuehn, Mikhail Simutin and Jessie Wang, American Finance Association, Jan 2014

 "Product Market Competition, R&D Investment and Stock Returns" by Lifeng Gu, Western Finance Association, June 2013

 

 "Production-Based Term Structure of Equity Returns" by Hengjie Ai, Mariano M. Croce, Anthony M. Diercks and Kai Li, SFS Cavalcade, May 2013

 "Volatility, the Macroeconomy and Asset Prices" by Ravi Bansal, Dana Kiku, Ivan Shaliastovich, and Amir Yaron, University of Minnesota Macro-Finance Conference, May 2013

 "The Impact of Fiscal Policy on Stock Returns” by Zhi Da, Mitch Warachka, and Hayong Yun, 5th Annual Florida State University SunTrust Beach Conference, April 2013

"Investment-based Momentum Profits" by Laura Liu and Lu Zhang, University of Minnesota Macro-Finance Conference, May 2011

 

"Credit Conditions and Expected Stock Returns" by Sudheer Chava, Michael Gallmeyer and Heungju Park, European Finance Association 2010, Aug 2010

 

"Asset Pricing and Housing Supply in a Production Economy" by Ivan Jaccard, Western Finance Association, July 2010

 

"The out-of-sample Performance of Long-Run Risk Models" by Wayne Ferson, Suresh Nallareddy and Biqin Xie, First World Finance Conference, May 2010

 

 "Investors' Compensation for Illiquidity - Evidence from the German Stock Market'' by M. Bank, M. Larch and G. Peter, First World Finance Conference, May 2010

 

"The Federal Reserve and the Cross Section of Stock Returns" by Erica Li and Francisco Palomino, Western Finance Association, July 2009

 

"The Demographics of Innovation and Asset Returns" by Nicolae Garleanu, Leonid Kogan and Stavros Panageas, University of Minnesota Macro-Finance Conference,  May 2009

 

 "Mutual Fund Tax Clienteles" by Clemens Sialm and Laura Starks, ISCTE Business School – Nova Annual Finance Conference on Mutual Funds and Investment Management, April 2008

 


The views and opinions expressed in this page are strictly those of the page author.
The contents of this page have not been reviewed or approved by the University of Minnesota.