Journal of Financial Economics

1974 - 2025

Current editor(s): G. William Schwert

From Elsevier
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Volume 145, issue 3, 2022

On index investing pp. 665-683

Jeffrey L. Coles, Davidson Heath and Matthew Ringgenberg

Risk-adjusted capital allocation and misallocation pp. 684-705

Joel David, Lukas Schmid and David Zeke

The cross-section of investment and profitability: Implications for asset pricing pp. 706-724

Mete Kilic, Louis Yang and Miao Ben Zhang

Did the paycheck protection program hit the target? pp. 725-761

João Granja, Christos Makridis, Constantine Yannelis and Eric Zwick

Corporate actions and the manipulation of retail investors in China: An analysis of stock splits pp. 762-787

Sheridan Titman, Chishen Wei and Bin Zhao

Separating equilibria, underpricing and security design pp. 788-801

Dan Bernhardt, Kostas Koufopoulos and Giulio Trigilia

Cyber risk and the U.S. financial system: A pre-mortem analysis pp. 802-826

Thomas Eisenbach, Anna Kovner and Michael Junho Lee

How voluntary information sharing systems form: Evidence from a U.S. commercial credit bureau pp. 827-849

José Liberti, Jason Sturgess and Andrew Sutherland

Overnight returns, daytime reversals, and future stock returns pp. 850-875

Ferhat Akbas, Ekkehart Boehmer, Chao Jiang and Paul D. Koch

Strategic fragmented markets pp. 876-908

Ana Babus and Cecilia Parlatore

Premium for heightened uncertainty: Explaining pre-announcement market returns pp. 909-936

Grace Xing Hu, Jun Pan, Jiang Wang and Haoxiang Zhu

Biases in long-horizon predictive regressions pp. 937-969

Jacob Boudoukh, Ronen Israel and Matthew Richardson

The rise of a network: Spillover of political patronage and cronyism to the private sector pp. 970-1005

Terry Moon and David Schoenherr

Macro news and micro news: Complements or substitutes? pp. 1006-1024

David Hirshleifer and Jinfei Sheng

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 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 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 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 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