Journal of Financial Economics

1974 - 2022

Current editor(s): G. William Schwert

From Elsevier
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Volume 145, issue 2, 2022

News as sources of jumps in stock returns: Evidence from 21 million news articles for 9000 companies pp. 1-17

Yoontae Jeon, Thomas H. McCurdy and Xiaofei Zhao

Fund manager skill in an era of globalization: Offshore concentration and fund performance pp. 18-40

John Jianqiu Bai, Yuehua Tang, Chi Wan and H. Zafer Yüksel

Skill versus reliability in venture capital pp. 41-63

Naveen Khanna and Richmond D. Mathews

Machine learning in the Chinese stock market pp. 64-82

Markus Leippold, Qian Wang and Wenyu Zhou

A frog in every pan: Information discreteness and the lead-lag returns puzzle pp. 83-102

Shiyang Huang, Charles M.C. Lee, Yang Song and Hong Xiang

The effect of media-linked directors on financing and external governance pp. 103-131

Alberta Di Giuli and Paul A. Laux

Gravity, counterparties, and foreign investment pp. 132-152

Cristian Badarinza, Tarun Ramadorai and Chihiro Shimizu

Value creation in shareholder activism pp. 153-178

Rui Albuquerque, Vyacheslav Fos and Enrique Schroth

Intermediation in the interbank lending market pp. 179-207

Ben Craig and Yiming Ma

The value of intermediation in the stock market pp. 208-233

Marco Di Maggio, Mark Egan and Francesco Franzoni

Music sentiment and stock returns around the world pp. 234-254

Alex Edmans, Adrian Fernandez-Perez, Alexandre Garel and Ivan Indriawan

Financial education affects financial knowledge and downstream behaviors pp. 255-272

Tim Kaiser, Annamaria Lusardi, Lukas Menkhoff and Carly Urban

Asset pricing with return extrapolation pp. 273-295

Lawrence J. Jin and Pengfei Sui

Sitting bucks: Stale pricing in fixed income funds pp. 296-317

Jaewon Choi, Mathias Kronlund and Ji Yeol Jimmy Oh

Financing constraints, home equity and selection into entrepreneurship pp. 318-337

Thais Laerkholm Jensen, Søren Leth-Petersen and Ramana Nanda

International asset pricing with strategic business groups1 pp. 339-361

Massimo Massa, James O'Donovan and Hong Zhang

Leverage pp. 362-386

Tano Santos and Pietro Veronesi

Short selling efficiency pp. 387-408

Yong Chen, Zhi Da and Dayong Huang

What is CEO overconfidence? Evidence from executive assessments pp. 409-425

Steven N. Kaplan, Morten Sørensen and Anastasia A. Zakolyukina

Listening in on investors’ thoughts and conversations pp. 426-444

Hailiang Chen and Byoung-Hyoun Hwang

When the local newspaper leaves town: The effects of local newspaper closures on corporate misconduct pp. 445-463

Jonas Heese, Gerardo Pérez-Cavazos and Caspar David Peter

Good for your fiscal health? The effect of the affordable care act on healthcare borrowing costs pp. 464-488

Pengjie Gao, Chang Lee and Dermot Murphy

The effects of disclosure and enforcement on payday lending in Texas pp. 489-507

Jialan Wang and Kathleen Burke

To pool or not to pool? Security design in OTC markets pp. 508-526

Vincent Glode, Christian C. Opp and Ruslan Sverchkov

The big bang: Stock market capitalization in the long run pp. 527-552

Dmitry Kuvshinov and Kaspar Zimmermann

Have risk premia vanished? pp. 553-576

Simon C. Smith and Allan Timmermann

Financial factors and the propagation of the Great Depression pp. 577-594

Gustavo Cortes, Bryan Taylor and Marc D. Weidenmier

Endogenous inattention and risk-specific price underreaction in corporate bonds pp. 595-615

Jiacui Li

The democratization of investment research and the informativeness of retail investor trading pp. 616-641

Michael Farrell, T. Clifton Green, Russell Jame and Stanimir Markov

Sustainable investing with ESG rating uncertainty pp. 642-664

Doron Avramov, Si Cheng, Abraham Lioui and Andrea Tarelli

Volume 145, issue 1, 2022

Time-varying risk of nominal bonds: How important are macroeconomic shocks? pp. 1-28

Andrey Ermolov

Investment slumps during financial crises: The real effects of credit supply pp. 29-44

Alexandros Fakos, Plutarchos Sakellaris and Tiago Tavares

Recovering the FOMC risk premium pp. 45-68

Hong Liu, Xiaoxiao Tang and Guofu Zhou

Bubbles and the value of innovation pp. 69-84

Valentin Haddad, Paul Ho and Erik Loualiche

The pass-through of uncertainty shocks to households pp. 85-104

Marco Di Maggio, Amir Kermani, Rodney Ramcharan, Vincent Yao and Edison Yu

Paying for beta: Leverage demand and asset management fees pp. 105-128

Steffen Hitzemann, Stanislav Sokolinski and Mingzhu Tai

Multivariate crash risk pp. 129-153

Fousseni Chabi-Yo, Markus Huggenberger and Florian Weigert

Market efficiency in the age of big data pp. 154-177

Ian Martin and Stefan Nagel

Silence is safest: Information disclosure when the audience’s preferences are uncertain pp. 178-193

Philip Bond and Yao Zeng

When Uncle Sam introduced Main Street to Wall Street: Liberty Bonds and the transformation of American finance pp. 194-216

Eric Hilt, Matthew Jaremski and Wendy Rahn

Ripples into waves: Trade networks, economic activity, and asset prices pp. 217-238

Chang, Jeffery (Jinfan), Huancheng Du, Dong Lou and Christopher Polk

A theory of financial media pp. 239-258

Eitan Goldman, Jordan Martel and Jan Schneemeier

Cross-listings, antitakeover defenses, and the insulation hypothesis pp. 259-276

Albert Tsang, Nan Yang and Lingyi Zheng

Ambiguity about volatility and investor behavior pp. 277-296

Dimitrios Kostopoulos, Steffen Meyer and Charline Uhr

Regulatory transparency and the alignment of private and public enforcement: Evidence from the public disclosure of SEC comment letters pp. 297-321

Amy Hutton, Susan Shu and Xin Zheng

Democracy and the pricing of initial public offerings around the world pp. 322-341

Huu Nhan Duong, Abhinav Goyal, Vasileios Kallinterakis and Madhu Veeraraghavan

Volume 144, issue 3, 2022

It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities pp. 695-731

Nina Boyarchenko, Anna Kovner and Or Shachar

Validity, tightness, and forecasting power of risk premium bounds pp. 732-760

Kerry Back, Kevin Crotty and Seyed Mohammad Kazempour

Does short-selling potential influence merger and acquisition payment choice? pp. 761-779

Marie Dutordoir, Norman C. Strong and Ping Sun

Corporate flexibility in a time of crisis pp. 780-806

John W. Barry, Murillo Campello, John R. Graham and Yueran Ma

Financing breakthroughs under failure risk pp. 807-848

Simon Mayer

Signaling, instrumentation, and CFO decision-making pp. 849-863

Christopher A. Hennessy and Gilles Chemla

Stock return ignorance pp. 864-884

Yulia Merkoulova and Chris Veld

Is there a zero lower bound? The effects of negative policy rates on banks and firms pp. 885-907

Carlo Altavilla, Lorenzo Burlon, Mariassunta Giannetti and Sarah Holton

Bank liquidity provision across the firm size distribution pp. 908-932

Gabriel Chodorow-Reich, Olivier Darmouni, Stephan Luck and Matthew Plosser

Why does structural change accelerate in recessions? The credit reallocation channel pp. 933-952

Cooper Howes

The “7% solution” and IPO (under)pricing pp. 953-971

Walid Y. Busaba and Felipe Restrepo

Token-based platform finance pp. 972-991

Lin William Cong, Ye Li and Neng Wang

How monetary policy shaped the housing boom pp. 992-1021

Itamar Drechsler, Alexi Savov and Philipp Schnabl

Asset pricing on earnings announcement days pp. 1022-1042

Kam Fong Chan and Terry Marsh

Volume 144, issue 2, 2022

Bitcoin’s limited adoption problem pp. 347-369

Franz J. Hinzen, Kose John and Fahad Saleh

How much should we trust staggered difference-in-differences estimates? pp. 370-395

Andrew C. Baker, David F. Larcker and Charles C.Y. Wang

Competition and manipulation in derivative contract markets pp. 396-413

Anthony Lee Zhang

Social interactions and households’ flood insurance decisions pp. 414-432

Zhongchen Hu

The Wall Street stampede: Exit as governance with interacting blockholders pp. 433-455

Dragana Cvijanović, Amil Dasgupta and Konstantinos E. Zachariadis

Oil volatility risk pp. 456-491

Lin Gao, Steffen Hitzemann, Ivan Shaliastovich and Lai Xu

Retail shareholder participation in the proxy process: Monitoring, engagement, and voting pp. 492-522

Alon Brav, Matthew Cain and Jonathon Zytnick

Do the right firms survive bankruptcy? pp. 523-546

Samuel Antill

Geographic clustering of institutional investors pp. 547-570

Donghyun Kim, Qinghai Wang and Xiaoqiong Wang

Dominant currency debt pp. 571-589

Egemen Eren and Semyon Malamud

Financially constrained mortgage servicers pp. 590-610

Darren J. Aiello

Do real estate values boost corporate borrowing? Evidence from contract-level data pp. 611-644

Murillo Campello, Robert Connolly, Gaurav Kankanhalli and Eva Steiner

Anticompetitive effects of horizontal acquisitions: The impact of within-industry product similarity pp. 645-669

Maryam Fathollahi, Jarrad Harford and Sandy Klasa

The maturity premium pp. 670-694

Maria Chaderina, Patrick Weiss and Josef Zechner

Volume 144, issue 1, 2022

Keeping options open: What motivates entrepreneurs? pp. 1-21

Sylvain Catherine

Launching with a parachute: The gig economy and new business formation pp. 22-43

John M. Barrios, Yael V. Hochberg and Hanyi Yi

Beyond the target: M&A decisions and rival ownership pp. 44-66

Miguel Antón, José Azar, Mireia Gine and Luca X. Lin

Student debt and default: The role of for-profit colleges pp. 67-92

Luis Armona, Rajashri Chakrabarti and Michael Lovenheim

Collateral and asymmetric information in lending markets pp. 93-121

Vasso Ioannidou, Nicola Pavanini and Yushi Peng

The rise of dual-class stock IPOs pp. 122-153

Dhruv Aggarwal, Ofer Eldar, Yael V. Hochberg and Lubomir P. Litov

Dissecting currency momentum pp. 154-173

Shaojun Zhang

Pricing of index options in incomplete markets pp. 174-205

Caio Almeida and Gustavo Freire

IPO peer effects pp. 206-226

Cyrus Aghamolla and Richard Thakor

Realized semibetas: Disentangling “good” and “bad” downside risks pp. 227-246

Tim Bollerslev, Andrew J. Patton and Rogier Quaedvlieg

Network effects in corporate financial policies pp. 247-272

William Grieser, Charles Hadlock, James LeSage and Morad Zekhnini

A picture is worth a thousand words: Measuring investor sentiment by combining machine learning and photos from news pp. 273-297

Khaled Obaid and Kuntara Pukthuanthong

Foreign investment of US multinationals: The effect of tax policy and agency conflicts pp. 298-327

James F. Albertus, Brent Glover and Oliver Levine

Issuance overpricing of China's corporate debt securities pp. 328-346

Yi Ding, Wei Xiong and Jinfan Zhang