Journal of Financial Economics

1974 - 2025

Current editor(s): G. William Schwert

From Elsevier
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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 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 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 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 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 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

Volume 143, issue 3, 2022

Bank capital structure and regulation: Overcoming and embracing adverse selection pp. 973-992

Sonny Biswas and Kostas Koufopoulos

Real-time price discovery via verbal communication: Method and application to Fedspeak pp. 993-1025

Roberto Gómez-Cram and Marco Grotteria

Does paycheck frequency matter? Evidence from micro data pp. 1026-1042

Brian Baugh and Filipe Correia

Patent quality, firm value, and investor underreaction: Evidence from patent examiner busyness pp. 1043-1069

Tao Shu, Xuan Tian and Xintong Zhan

Blood in the water: The value of antitakeover provisions during market shocks pp. 1070-1096

Scott Guernsey, Simone M. Sepe and Matthew Serfling

Revealing corruption: Firm and worker level evidence from Brazil pp. 1097-1119

Emanuele Colonnelli, Spyridon Lagaras, Jacopo Ponticelli, Mounu Prem and Margarita Tsoutsoura

Closing auctions: Nasdaq versus NYSE pp. 1120-1139

Narasimhan Jegadeesh and Yanbin Wu

A factor model for option returns pp. 1140-1161

Matthias Büchner and Bryan Kelly

Price revelation from insider trading: Evidence from hacked earnings news pp. 1162-1184

Pat Akey, Vincent Grégoire and Charles Martineau

High policy uncertainty and low implied market volatility: An academic puzzle? pp. 1185-1208

Jędrzej Białkowski, Huong Dieu Dang and Xiaopeng Wei

The cost of steering in financial markets: Evidence from the mortgage market pp. 1209-1226

Luigi Guiso, Andrea Pozzi, Anton Tsoy, Leonardo Gambacorta and Paolo Emilio Mistrulli

Under-diversification and idiosyncratic risk externalities pp. 1227-1250

Felipe Iachan, Dejanir Silva and Chao Zi

In sickness and in debt: The COVID-19 impact on sovereign credit risk pp. 1251-1274

Patrick Augustin, Valeri Sokolovski, Marti G. Subrahmanyam and Davide Tomio

Liquidity, pledgeability, and the nature of lending pp. 1275-1294

Douglas W. Diamond, Yunzhi Hu and Raghuram Rajan

Expected return, volume, and mispricing pp. 1295-1315

Yufeng Han, Dashan Huang, Dayong Huang and Guofu Zhou

Outlier blindness: A neurobiological foundation for neglect of financial risk pp. 1316-1343

Elise Payzan-LeNestour and Michael Woodford

Volume 143, issue 2, 2022

Decomposing firm value pp. 619-639

Frederico Belo, Vito D. Gala, Juliana Salomao and Maria Ana Vitorino

The micro and macro of managerial beliefs pp. 640-667

Jose Maria Barrero

Real effects of climate policy: Financial constraints and spillovers pp. 668-696

Söhnke Bartram, Kewei Hou and Sehoon Kim

The missing risk premium in exchange rates pp. 697-715

Magnus Dahlquist and Julien Penasse

Taming the bias zoo pp. 716-741

Hongqi Liu, Cameron Peng, Wei A. Xiong and Wei Xiong

Is there a home field advantage in global markets? pp. 742-770

Murali Jagannathan, Wei Jiao and G. Andrew Karolyi

The consequences of student loan credit expansions: Evidence from three decades of default cycles pp. 771-793

W. Looney and Constantine Yannelis

On the fast track: Information acquisition costs and information production pp. 794-823

Deqiu Chen, Yujing Ma, Xiumin Martin and Roni Michaely

Busy bankruptcy courts and the cost of credit pp. 824-845

Karsten Müller

Attention triggers and investors’ risk-taking pp. 846-875

Marc Arnold, Matthias Pelster and Marti G. Subrahmanyam

Local banks, credit supply, and house prices pp. 876-896

Kristian Blickle

Searching for the equity premium pp. 897-926

Hang Bai and Lu Zhang

Have exchange-listed firms become less important for the economy? pp. 927-958

Frederik P. Schlingemann and René M. Stulz

Why are commercial loan rates so sticky? The effect of private information on loan spreads pp. 959-972

Cem Demiroglu, Christopher James and Guner Velioglu

Volume 143, issue 1, 2022

Risk-free interest rates pp. 1-29

Jules H. van Binsbergen, William F. Diamond and Marco Grotteria

Consumer-lending discrimination in the FinTech Era pp. 30-56

Robert Bartlett, Adair Morse, Richard Stanton and Nancy Wallace

Treasury inconvenience yields during the COVID-19 crisis pp. 57-79

Zhiguo He, Stefan Nagel and Zhaogang Song

Betting against betting against beta pp. 80-106

Robert Novy-Marx and Mihail Velikov

Who creates new firms when local opportunities arise? pp. 107-130

Shai Bernstein, Emanuele Colonnelli, Davide Malacrino and Tim McQuade

Venture capital contracts pp. 131-158

Michael Ewens, Alexander Gorbenko and Arthur Korteweg

The level, slope, and curve factor model for stocks pp. 159-187

Charles Clarke

Portfolio choice with sustainable spending: A model of reaching for yield pp. 188-206

John Campbell and Roman Sigalov

Disappearing and reappearing dividends pp. 207-226

Roni Michaely and Amani Moin

The dynamics of concealment pp. 227-246

Jeremy Bertomeu, Iván Marinovic, Stephen Terry and Felipe Varas

The cross section of the monetary policy announcement premium pp. 247-276

Hengjie Ai, Leyla Jianyu Han, Xuhui Nick Pan and Lai Xu

Does mutual fund illiquidity introduce fragility into asset prices? Evidence from the corporate bond market pp. 277-302

Hao Jiang, Yi Li, Zheng Sun and Ashley Wang

Government policy approval and exchange rates pp. 303-331

Yang Liu and Ivan Shaliastovich

Epidemic disease and financial development pp. 332-358

Jiafu An, Wenxuan Hou and Chen Lin

Investing outside the box: Evidence from alternative vehicles in private equity pp. 359-380

Josh Lerner, Jason Mao, Antoinette Schoar and Nan R. Zhang

Measuring the ex-ante incentive effects of creditor control rights during bankruptcy reorganization pp. 381-408

Ashwini Agrawal, Juanita González-Uribe and Jimmy Martínez-Correa

Stocks for the long run? Evidence from a broad sample of developed markets pp. 409-433

Aizhan Anarkulova, Scott Cederburg and O’Doherty, Michael S.

Social learning and analyst behavior pp. 434-461

Alok Kumar, Ville Rantala and Rosy Xu

Does customer-base structure influence managerial risk-taking incentives? pp. 462-483

Jie Chen, Xunhua Su, Xuan Tian and Bin Xu

Equity tail risk and currency risk premiums pp. 484-503

Zhenzhen Fan, Juan M. Londono and Xiao Xiao

Peak-Bust rental spreads pp. 504-526

Marco Giacoletti and Christopher A. Parsons

Learning, slowly unfolding disasters, and asset prices pp. 527-549

Mohammad Ghaderi, Mete Kilic and Sang Byung Seo

Financial development and labor market outcomes: Evidence from Brazil pp. 550-568

Julia Fonseca and Bernardus Van Doornik

Price transparency in OTC equity lending markets: Evidence from a loan fee benchmark pp. 569-592

Fábio Cereda, Fernando Chague, Rodrigo De-Losso, Alan Genaro and Bruno Giovannetti

Trade credit and profitability in production networks pp. 593-618

Michael Gofman and Youchang Wu