Hao (Arthur) Luo

Hao (Arthur) Luo

  • Finance and Business Economics
  • Student
  • Tags:
  • phd

Contact Information

Email: luoha@mcmaster.ca
Website: Visit

Arthur joined the PhD program (Finance) at the DeGroote School of Business in September 2012. His current research interests include asset pricing, investment, and corporate finance.

Thesis Title: Three Essays on Asset Pricing
SupervisorRonald Balvers
Current Position: Financial Economist at the Office of the Comptroller of the Currency, U.S. Department of the Treasury at Washington D.C.

  • Ph.D. Candidate in Economics, West Virginia University
    • Passed All Comprehensive Exams
    • Fields: Monetary Economics, Financial Economics
  • M.A., Economics, Wichita State University
  • B.Sc., Economics, Utrecht University, The Netherlands

After earning his Bachelor degree, Arthur held a full-time internship at a real estate development company, and a six-month traineeship at Fidelity Bank in Wichita, Kansas. During his studies at Wichita State University, he worked as a graduate assistant. Prior to coming to McMaster, he spent one year as a research assistant at the Bureau of Business and Economic Research and one year as a research assistant at the department of finance at West Virginia University.

In the Fall of 2014, Arthur held the position of Instructor for 3FB3, Security Analysis – a third year undergraduate course at McMaster University.  Arthur’s teaching interests include investments, corporate finance, financial economics, and financial institutions.

  • Speaker at Geneva Summit on Sustainable Finance, Geneva, Switzerland, November 2014
  • Referee for Journal of Empirical Finance, 2015
  • Discussant:
    • EUROFIDAI / AFFI, Paris, France, 2014
    • EFMA , Amsterdam, the Netherlands, 2015

Social Screens and Systematic Investor Boycott Risk (with Ronald Balvers). Forthcoming, Journal of Financial and Quantitative Analysis.

Monetary Shocks, Equity Returns and Volatility – A Firm-Level Panel Data Analysis (with Jen-Chi Cheng and Chu-Ping C. Vijverberg). Forthcoming, Applied Economics.

Working Papers & Research

  • On the Characteristic and Covariance Risk Tautology (with Ronald Balvers) [Asset pricing]
  • Smart Money, Institutional Investor Liquidity, and Return Predictions (Job Market Paper)
  • A Smart Money Effect or a Liquidity Driven Clientele Effect [Investment]
  • Do Bad Times Show People’s True Colors? [Macroeconomics, asset pricing, Bayesian]
  • The Wages of Sin [Corporate finance]