Journal of Financial Economics

1974 - 2025

Current editor(s): G. William Schwert

From Elsevier
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Volume 148, issue 3, 2023

Heterogeneous liquidity providers and night-minus-day return predictability pp. 175-200

Zhongjin Lu, Steven Malliaris and Zhongling Qin

Insurance and portfolio decisions: Two sides of the same coin? pp. 201-219

Olivier Armantier, Jérôme Foncel and Nicolas Treich

Asset holders’ consumption risk and tests of conditional CCAPM pp. 220-244

Redouane Elkamhi and Chanik Jo

Why is dollar debt Cheaper? Evidence from Peru pp. 245-272

Bryan Gutierrez, Victoria Ivashina and Juliana Salomao

Reaching for yield and the housing market: Evidence from 18th-century Amsterdam pp. 273-296

Matthijs Korevaar

Volume 148, issue 2, 2023

Flexibility costs of debt: Danish exporters during the cartoon crisis pp. 91-117

Benjamin U. Friedrich and Michał Zator

Loan spreads and credit cycles: The role of lenders’ personal economic experiences pp. 118-149

Daniel Carvalho, Janet Gao and Pengfei Ma

Political ideology and international capital allocation pp. 150-173

Elisabeth Kempf, Mancy Luo, Larissa Schäfer and Margarita Tsoutsoura

Volume 148, issue 1, 2023

The Modern Mutual Fund Family pp. 1-20

Caitlin D. Dannhauser and Harold D. Spilker

The global factor structure of exchange rates pp. 21-46

Sofonias Alemu Korsaye, Fabio Trojani and Andrea Vedolin

Set it and forget it? Financing retirement in an age of defaults pp. 47-68

Lucas Goodman, Anita Mukherjee and Shanthi Ramnath

Barking up the wrong tree: Return-chasing in 401(k) plans pp. 69-90

Anh Tran and Pingle Wang

Volume 147, issue 3, 2023

Common ownership and innovation efficiency pp. 475-497

Xuelin Li, Tong Liu and Lucian A. Taylor

Mortgage prepayment, race, and monetary policy pp. 498-524

Kristopher Gerardi, Paul Willen and David Hao Zhang

The colour of finance words pp. 525-549

Diego García, Xiaowen Hu and Maximilian Rohrer

Volatility and informativeness pp. 550-572

Eduardo Davila and Cecilia Parlatore

From patriarchy to partnership: Gender equality and household finance pp. 573-595

Luigi Guiso and Luana Zaccaria

Financial markets and unemployment pp. 596-626

Tommaso Monacelli, Vincenzo Quadrini and Antonella Trigari

The negativity bias and perceived return distributions: Evidence from a pandemic pp. 627-657

Richard Sias, Laura T. Starks and H.J. Turtle

Supporting small firms through recessions and recoveries pp. 658-688

Diana Bonfim, Cláudia Custódio and Clara Raposo

Volume 147, issue 2, 2023

Automation and the displacement of labor by capital: Asset pricing theory and empirical evidence pp. 271-296

Jiri Knesl

The distributional effects of student loan forgiveness pp. 297-316

Sylvain Catherine and Constantine Yannelis

Refusing the best price? pp. 317-337

Sida Li, Mao Ye and Miles Zheng

Empirical evaluation of overspecified asset pricing models pp. 338-351

Elena Manresa, Francisco Peñaranda and Enrique Sentana

Institutional investors, heterogeneous benchmarks and the comovement of asset prices pp. 352-381

Andrea M. Buffa and Idan Hodor

The fundamental-to-market ratio and the value premium decline pp. 382-405

Andrei S. Gonçalves and Gregory Leonard

Dynamic asset (mis)pricing: Build-up versus resolution anomalies pp. 406-431

Jules H. van Binsbergen, Martijn Boons, Christian Opp and Andrea Tamoni

Pirates without borders: The propagation of cyberattacks through firms’ supply chains pp. 432-448

Matteo Crosignani, Marco Macchiavelli and André F. Silva

Open banking: Credit market competition when borrowers own the data pp. 449-474

Zhiguo He, Jing Huang and Jidong Zhou

Volume 147, issue 1, 2023

Origins of international factor structures pp. 1-26

Zhengyang Jiang and Robert J. Richmond

What do outside CEOs really do? Evidence from plant-level data pp. 27-48

(Jianqiu) Bai, John and Anahit Mkrtchyan

Small and vulnerable: SME productivity in the great productivity slowdown pp. 49-74

Sophia Chen and Do Lee

Do firms with specialized M&A staff make better acquisitions? pp. 75-105

Sinan Gokkaya, Xi Liu and René M. Stulz

Presidential economic approval rating and the cross-section of stock returns pp. 106-131

Zilin Chen, Zhi Da, Dashan Huang and Liyao Wang

Mutual fund performance at long horizons pp. 132-158

Hendrik Bessembinder, Michael J. Cooper and Feng Zhang

Collateral quality and intervention traps pp. 159-171

Michael Junho Lee and Daniel Neuhann

Sovereign risk premia and global macroeconomic conditions pp. 172-197

Sandro C. Andrade, Adelphe Ekponon and Alexandre Jeanneret

Institutional investors, the dollar, and U.S. credit conditions pp. 198-220

Friederike Niepmann and Tim Schmidt-Eisenlohr

What are the events that shake our world? Measuring and hedging global COVOL pp. 221-242

Robert Engle and Susana Campos-Martins

Industry asset revaluations around public and private acquisitions pp. 243-269

Francois Derrien, Laurent Frésard, Victoria Slabik and Philip Valta

Volume 146, issue 3, 2022

Measuring the welfare cost of asymmetric information in consumer credit markets pp. 821-840

Anthony DeFusco, Huan Tang and Constantine Yannelis

Monetary policy expectation errors pp. 841-858

Maik Schmeling, Andreas Schrimpf and Sigurd A.M. Steffensen

Liquidity in the global currency market pp. 859-883

Angelo Ranaldo and Paolo Santucci de Magistris

Capital forbearance in the bank recovery and resolution game pp. 884-904

Natalya Martynova, Enrico Perotti and Javier Suarez

Shale shocked: Cash windfalls and household debt repayment pp. 905-931

J. Anthony Cookson, Erik P. Gilje and Rawley Z. Heimer

Product market strategy and corporate policies pp. 932-964

Jakub Hajda and Boris Nikolov

The life of the counterparty: Shock propagation in hedge fund-prime broker credit networks pp. 965-988

Mathias S. Kruttli, Phillip J. Monin and Sumudu Watugala

Partisan residential sorting on climate change risk pp. 989-1015

Asaf Bernstein, Stephen B. Billings, Matthew T. Gustafson and Ryan Lewis

What moves treasury yields? pp. 1016-1043

Emanuel Moench and Soroosh Soofi-Siavash

Financial transaction taxes and the informational efficiency of financial markets: A structural estimation pp. 1044-1072

Marco Cipriani, Antonio Guarino and Andreas Uthemann

Voting and trading: The shareholder’s dilemma pp. 1073-1096

Adam Meirowitz and Shaoting Pi

Game on: Social networks and markets pp. 1097-1119

Lasse Heje Pedersen

Fire-sale risk in the leveraged loan market pp. 1120-1147

Redouane Elkamhi and Yoshio Nozawa

Sentiment and uncertainty pp. 1148-1169

Justin Birru and Trevor Young

Volume 146, issue 2, 2022

A unified model of distress risk puzzles pp. 357-384

Zhiyao Chen, Dirk Hackbarth and Ilya A. Strebulaev

Debt dynamics with fixed issuance costs pp. 385-402

Luca Benzoni, Lorenzo Garlappi, Robert S. Goldstein and Chao Ying

Dissecting green returns pp. 403-424

Lubos Pastor, Robert Stambaugh and Lucian A. Taylor

Size-adapted bond liquidity measures and their asset pricing implications pp. 425-443

Michael Reichenbacher and Philipp Schuster

Overallocation and secondary market outcomes in corporate bond offerings pp. 444-474

Hendrik Bessembinder, Stacey Jacobsen, William Maxwell and Kumar Venkataraman

Bank transparency and deposit flows pp. 475-501

Qi Chen, Itay Goldstein, Zeqiong Huang and Rahul Vashishtha

Retail trader sophistication and stock market quality: Evidence from brokerage outages pp. 502-528

Gregory W. Eaton, T. Clifton Green, Brian S. Roseman and Yanbin Wu

Count (and count-like) data in finance pp. 529-551

Jonathan B. Cohn, Zack Liu and Malcolm I. Wardlaw

Corporate culture: Evidence from the field pp. 552-593

John R. Graham, Jillian Grennan, Campbell R. Harvey and Shivaram Rajgopal

Flattening the curve: Pandemic-Induced revaluation of urban real estate pp. 594-636

Arpit Gupta, Vrinda Mittal, Jonas Peeters and Stijn Van Nieuwerburgh

Shielding firm value: Employment protection and process innovation pp. 637-664

Jan Bena, Hernán Ortiz-Molina and Elena Simintzi

More informative disclosures, less informative prices? Portfolio and price formation around quarter-ends pp. 665-688

Todd A. Gormley, Zachary Kaplan and Aadhaar Verma

Salience theory and the cross-section of stock returns: International and further evidence pp. 689-725

Nusret Cakici and Adam Zaremba

Credit cycles with market-based household leverage pp. 726-753

William Diamond and Tim Landvoigt

Expansionary yet different: Credit supply and real effects of negative interest rate policy pp. 754-778

Margherita Bottero, Camelia Minoiu, Jose-Luis Peydro, Andrea Polo, Andrea Presbitero and Enrico Sette

Employee output response to stock market wealth shocks pp. 779-796

Teng Li, Wenlan Qian, Wei A. Xiong and Xin Zou

Let the rich be flooded: The distribution of financial aid and distress after hurricane harvey pp. 797-819

Stephen B. Billings, Emily A. Gallagher and Lowell Ricketts

Volume 146, issue 1, 2022

Personal finance education mandates and student loan repayment pp. 1-26

Daniel Mangrum

Bucking the trend: Why do IPOs choose controversial governance structures and why do investors let them? pp. 27-54

Laura Casares Field and Michelle Lowry

Growth forecasts and news about monetary policy pp. 55-70

Nina Karnaukh and Petra Vokata

Why does the Fed move markets so much? A model of monetary policy and time-varying risk aversion pp. 71-89

Carolin Pflueger and Gianluca Rinaldi

Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program pp. 90-118

Isil Erel and Jack Liebersohn

Price-setting in the foreign exchange swap market: Evidence from order flow pp. 119-142

Olav Syrstad and Ganesh Viswanath-Natraj

The secured credit premium and the issuance of secured debt pp. 143-171

Efraim Benmelech, Nitish Kumar and Raghuram Rajan

On the information content of credit ratings and market-based measures of default risk pp. 172-204

Oleg R. Gredil, Nishad Kapadia and Jung Hoon Lee

Speculative dynamics of prices and volume pp. 205-229

Anthony DeFusco, Charles G. Nathanson and Eric Zwick

Peer selection and valuation in mergers and acquisitions pp. 230-255

Gregory W. Eaton, Feng Guo, Tingting Liu and Micah S. Officer

Executive stock options and systemic risk pp. 256-276

Christopher Armstrong, Allison Nicoletti and Frank S. Zhou

The international propagation of economic downturns through multinational companies: The real economy channel pp. 277-304

Jan Bena, Serdar Dinc and Isil Erel

Millionaires speak: What drives their personal investment decisions? pp. 305-330

Svetlana Bender, James Choi, Danielle Dyson and Adriana Z. Robertson

Young firms, old capital pp. 331-356

Song Ma, Justin Murfin and Ryan Pratt