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Howard Kung

Assistant Professor of Finance

BA (Virginia), PhD (Duke)

Dr Howard Kung conducts research at the intersection of asset pricing and macroeconomics. His recent research studies how firms’ innovation decisions impact economic growth and asset markets, how changes in uncertainty affect firm investment decisions, and how restructuring the maturity structure of government debt can stimulate the economy.

Dr Kung was an Assistant Professor of Finance at the University of British Columbia prior to joining London Business School in 2014. He completed his PhD at Duke University and prior to his doctorate, he studied at the University of Virginia.


The asset redeployability channel: how uncertainty affects corporate investment

Kung H; Kim H

Review of Financial Studies 2016 Vol 30:1 p 245-280


Innovation, growth and asset prices

Kung H; Schmid L

Journal of Finance 2015 Vol 70:3 p 1001-1037

Macroeconomic linkages between monetary policy and the term structure of interest rates

Kung H

Journal of Financial Economics 2015 Vol 115:1 p 42-57


Fiscal policies and asset prices

Croce M M; Kung H; Nguyen T T; Schmid L

Review of Financial Studies 2012 Vol 25:9 p 2635-2672


Fiscal discount rates and debt maturity

Kung H; Morales G; Corhay A

Working Paper


The CAPM strikes back? An investment model with disasters

Bai H; Hou K; Kung H; Zhang L

Working Paper

Competition, markups, and predictable returns

Corhay A; Kung H; Schmid L

Working Paper

Government maturity structure twists

Corhay A; Kung H; Morales G

IFA Working Paper

Growth slowdowns, and recoveries

Bianchi F; Kung H

Working Paper

Limited marital commitment and household portfolios

Addooum J; Kung H; Morales G

IFA Working Paper

Restructuring the Great Depression

Corhay A; Kung H; Morales G

IFA Working Paper


  • E197 Elective Course in Capital Markets & Financing


  • PhD Course in Financial Economics I: Asset Pricing

Research Awards

  • Best Paper in Corporate Finance at the SFS Cavalcade, 2014.

  • AFA Travel Grant, 2010.

  • Graduate Fellowship, 2006-2012.

Research Interests

  • Asset pricing and macroeconomics