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Fousseni Chabi-Yo

Berthiaume Endowed Professor in Business Administration, Chair of Finance Department, PhD Co-coordinator, Professor

Finance

Education

PhD Economics, University of Montreal, 2005
MSc Applied Economics and Statistics, ENSAE, Dakar, Senegal, 1998
MSc Applied Mathematics, University Cheikh Anta Diop of Dakar, Senegal, 1998
BSc Mathematics, University Cheikh Anta Diop of Dakar, Senegal, 1997
BSc Mathematics-Physics, University of Abomey-Calavi, Benin, 1995

Professional Experience

Bank of Canada, 2004-2008

Academic Appointments

Berthiaume Endowed Professor in Business Administration, Isenberg School of Management, 2022 to present
Professor of Finance (with tenure), Isenberg School of Management, 2022 to present
Associate Professor of Finance, Isenberg School of Management, UMass, 2018-2022
Assistant Professor of Finance, Isenberg School of Management, UMass, 2016-2018
Assistant Professor of Finance, Fisher College of Business, OSU, Columbus, Ohio, 2008-2016

Research Interests

Asset Pricing Theory
Empirical Asset Pricing
Financial Econometrics
Behavioral Finance

Teaching Interests

General
  • Investment
  • Risk Management
  • Derivatives
  • Financial Econometrics

Selected Publications

An Intertemporal Risk Factor Model forthcoming, Management Science. May 08, 2024 (with Andrei Gonçalves and Johnathan Loudis)

A Decomposition of Conditional Risk Premia and Implications for Representative Agent Models, forthcoming, Management Science. This draft, June 2023 (with Johnathan Loudis) .

Never a Dull Moment: Entropy Risk in Commodity Markets  forthcoming, Review of Asset Pricing Studies,  February 2023 (with Hitesh Doshi and Virgilio Zurita) 

Multivariate Crash Risk, Journal of Financial Economics, Volume 145, Issue 1, July 2022, Pages 129-153  (with Markus Huggenberger and Florian Weigert) 

Generalized Bounds on the Conditional Expected Excess Return on Individual Stocks, Management Science, March 2022  (with Chukwuma Dim  and Grigory Vilkov).

The Conditional Expected Market Return, Journal of Financial Economics, Volume 137, Issue 3, September 2020, Pages 752-786.  (with Johnathan Loudis).

The Term Structure of Co-Entropy in International Financial Markets, Management Science, Volume 65, Issue 8,  August 2019,  3449-3947. (with Riccardo Colacito)

Crash Sensitivity and the Cross-Section of Expected Stock Returns, Journal of Financial and Quantitative Analysis, Volume 53, Issue 3, June 2018 , pp. 1059-1100.  (with Stefan Ruenzi and Florian Weigert).

A Recovery that we Can Trust? Deducing and Testing The Restrictions of the Recovery Theorem, The Review of Financial Studies, February 2018, Volume 31, Issue 2, 1 February 2018, Pages 532–555 . (with Gurdip Bakshi and Xiaohui Gao).

Aggregation of Preferences for Skewed Asset Returns, Journal of Economic Theory, 154 (2014) pp. 453-489 (with Dietmar Leisen and Eric Renault).

Variance bounds on the permanent and transitory components of stochastic discount factors. Journal of Financial Economics, Vol. 105, No 1 July 2012, pp. 191-208. (with Gurdip Bakshi)

Pricing Kernels with Stochastic Skewness and Volatility Risk, Management Science, Vol. 58, No. 3, March 2012, pp. 624-640.

Conditioning Information and Variance Bound on Pricing Kernels with Higher-Order Moments: Theory and Evidence, The Review of Financial Studies, 2008, 21 (1): 181-231.

State Dependence Can Explain Risk-Aversion Puzzle, The Review of Financial Studies, 2008, 21 (2): 973-1011(with Eric Renault and Rene Garcia).