Dr. Jian Zhou is an Associate Professor in the Lang School of Business & Economics at the University of Guelph. Dr. Zhou’s research mainly focuses on real estate finance and urban economics. Examples of his research topics include: Real Estate Investment Trusts— an attractive investment alternative to the mainstream options (e.g. stocks and bonds), house price dynamics, and the effect of zoning decisions on land prices. Dr. Zhou publishes in such academic journals as the Journal of Real Estate Finance and Economics, Real Estate Economics, Applied Financial Economics, and Economic Modeling, etc.  Dr. Zhou is the winner of the 2012 William N. Kinnard Young Scholar Award from the American Real Estate Society – the leading global real estate research and education organization. He is also the recipient of the 2009 Outstanding Ph.D. Thesis Award in Behavioural and Social Science from University of Illinois at Chicago (UIC), where he obtained his Ph.D. Dr. Zhou teaches real estate principles, real estate finance, and personal finance management classes at UoG. He also taught introductory microeconomics at UIC. Prior to coming to North America, he received his bachelor’s and master’s degrees in Beijing, China.


Ph.D., Economics, University of Illinois at Chicago   2008

M.A., Management, Renmin University of China       2001

B.A., Economics, Renmin University of China           1998

Awards and Honours:

William N. Kinnard Young Scholar Award, American Real Estate Society, 2012 Outstanding Ph.D. Thesis Award, University of Illinois at Chicago, 2009

Research Interests:

  • Real estate finance

  • Urban economics

  • Applied econometrics



(selected) “An Empirical Investigation of Herding Behavior in U.S. REIT market”, with Randy I. Anderson, Journal of Real Estate Finance and Economics, 2013,47(1), 83-108. “Conditional Market Beta for REITs: A Comparison of Modeling Techniques”,Economic Modelling, 2013, 30, 196-204. “Multiscale Analysis of International Linkages of REIT Returns and Volatilities”, Journal of Real Estate Finance and Economics, 2012, 45(4), 1062-1087. “Tail Dependence in International Real Estate Securities Markets”, with Yanmin Gao, Journal of Real Estate Finance and Economics, 2012, 45(1), 128-151. “Extreme Risk Measures for REITs: A Comparison among Alternative Methods”, Applied Financial Economics, 2012, 22(2), 113-126. “Testing for Cointegration between House Prices and Economic Fundamentals”, Real Estate Economics, 2010, 38(4):599-632. “Land Values and the 1957 Comprehensive Amendment to the Chicago Zoning Ordinance”, with Daniel P. McMillen and John F. McDonald, Urban Studies, 2008, v. 45: 1647-1661.

Current Courses:

REAL*1820 Real Estate & Housing; REAL*2820 Real Estate Finance; MCS*2100DE Personal Finance Management