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We use moderate-resolution spectra of nearby late K and M dwarf stars withparallaxes and interferometrically determined radii to refine their effectivetemperatures, luminosities, and metallicities. We use these revised values tocalibrate spectroscopic techniques to infer the fundamental parameters of moredistant late-type dwarf stars. We demonstrate that, after masking out poorlymodeled regions, the newest version of the PHOENIX atmosphere models accuratelyreproduce temperatures derived bolometrically. We apply methods to late-typehosts of transiting planet candidates in the Kepler field, and calculateeffective temperature, radius, mass, and luminosity with typical errors of 57K, 7%, 11%, and 13%, respectively. We find systematic offsets between ourvalues and those from previous analyses of the same stars, which we attributeto differences in atmospheric models utilized for each study. We investigatewhich of the planets in this sample are likely to orbit in the circumstellarhabitable zone. We determine that four candidate planets (KOI 854.01, 1298.02,1686.01, and 2992.01) are inside of or within 1-sigma of a conservativedefinition of the habitable zone, but that several planets identified byprevious analyses are not (e.g. KOI 1422.02 and KOI 2626.01). Only one of thefour habitable-zone planets is Earth sized, suggesting a downward revision inthe occurrence of such planets around M dwarfs. These findings highlight theimportance of measuring accurate stellar parameters when deriving parameters oftheir orbiting planets.

Spectro-Thermometry of M dwarfs and their candidate planets: too hot, too cool, or just right?