The Review of Financial Studies

1988 - 2025

Current editor(s): Itay Goldstein

From Society for Financial Studies
Oxford University Press, Journals Department, 2001 Evans Road, Cary, NC 27513 USA..
Contact information at EDIRC.
Bibliographic data for series maintained by Oxford University Press ().

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Volume 25, issue 12, 2012

A Flow-Based Explanation for Return Predictability pp. 3457-3489

Dong Lou

Forecasting Stock Returns Through an Efficient Aggregation of Mutual Fund Holdings pp. 3490-3529

Russell Wermers, Tong Yao and Jane Zhao

Institutional Investors and Mutual Fund Governance: Evidence from Retail--Institutional Fund Twins pp. 3530-3571

Richard B. Evans and Ruediger Fahlenbrach

Cash Holdings and Credit Risk pp. 3572-3609

Viral Acharya, Sergei A. Davydenko and Ilya A. Strebulaev

The Sensitivity of Corporate Cash Holdings to Corporate Governance pp. 3610-3644

Qi Chen, Xiao Chen, Katherine Schipper, Yongxin Xu and Jian Xue

Overvalued Equity and Financing Decisions pp. 3645-3683

Ming Dong, David Hirshleifer and Siew Hong Teoh

Ability or Finances as Constraints on Entrepreneurship? Evidence from Survival Rates in a Natural Experiment pp. 3684-3710

Steffen Andersen and Kasper Meisner Nielsen

Is the Potential for International Diversification Disappearing? A Dynamic Copula Approach pp. 3711-3751

Peter Christoffersen, Vihang Errunza, Kris Jacobs and Hugues Langlois

Volume 25, issue 11, 2012

Asset Pricing and the Credit Market pp. 3169-3215

Francis A. Longstaff and Jiang Wang

How Important is Having Skin in the Game? Originator-Sponsor Affiliation and Losses on Mortgage-backed Securities pp. 3217-3258

Cem Demiroglu and Christopher James

Pay for Performance from Future Fund Flows: The Case of Private Equity pp. 3259-3304

Ji-Woong Chung, Berk A. Sensoy, Léa Stern and Michael Weisbach

Cross-Listing, Investment Sensitivity to Stock Price, and the Learning Hypothesis pp. 3305-3350

Thierry Foucault and Laurent Frésard

Investment and Capital Constraints: Repatriations Under the American Jobs Creation Act pp. 3351-3388

Michael Faulkender and Mitchell Petersen

Trading Fees and Efficiency in Limit Order Markets pp. 3389-3421

Jean-Edouard Colliard and Thierry Foucault

Realized Skewness pp. 3423-3455

Anthony Neuberger

Volume 25, issue 10, 2012

Do Investors Buy What They Know? Product Market Choices and Investment Decisions pp. 2921-2958

Matti Keloharju, Samuli Knüpfer and Juhani Linnainmaa

A Market-Based Study of the Cost of Default pp. 2959-2999

Sergei A. Davydenko, Ilya A. Strebulaev and Xiaofei Zhao

Does Systemic Risk in the Financial Sector Predict Future Economic Downturns? pp. 3000-3036

Linda Allen, Turan G. Bali and Yi Tang

Can Rare Events Explain the Equity Premium Puzzle? pp. 3037-3076

Christian Julliard and Anisha Ghosh

Convertibles and Hedge Funds as Distributors of Equity Exposure pp. 3077-3112

Stephen Brown, Bruce D. Grundy, Craig M. Lewis and Patrick Verwijmeren

Measuring Equity Risk with Option-implied Correlations pp. 3113-3140

Adrian Buss and Grigory Vilkov

Out-of-Sample Predictions of Bond Excess Returns and Forward Rates: An Asset Allocation Perspective pp. 3141-3168

Daniel Thornton and Giorgio Valente

Volume 25, issue 9, 2012

Fiscal Policies and Asset Prices pp. 2635-2672

M. Max Croce, Howard Kung, Thien T. Nguyen and Lukas Schmid

Suspicious Patterns in Hedge Fund Returns and the Risk of Fraud pp. 2673-2702

Nicolas P. B. Bollen and Veronika K. Pool

Universal Banks and Corporate Control: Evidence from the Global Syndicated Loan Market pp. 2703-2744

Miguel Ferreira and Pedro Matos

Does Idiosyncratic Volatility Proxy for Risk Exposure? pp. 2745-2787

Zhanhui Chen and Ralitsa Petkova

Does Beta Move with News? Firm-Specific Information Flows and Learning about Profitability pp. 2789-2839

Andrew Patton and Michela Verardo

Identifying Expectation Errors in Value/Glamour Strategies: A Fundamental Analysis Approach pp. 2841-2875

Joseph D. Piotroski and Eric C. So

Decomposition of Optimal Portfolio Weight in a Jump-Diffusion Model and Its Applications pp. 2877-2919

Xing Jin and Allen X. Zhang

Volume 25, issue 8, 2012

Bank Bailouts and Moral Hazard: Evidence from Germany pp. 2343-2380

Lammertjan Dam and Michael Koetter

Loan Prospecting pp. 2381-2415

Florian Heider and Roman Inderst

Securitization, Transparency, and Liquidity pp. 2417-2453

Marco Pagano and Paolo Volpin

Trust and Credit: The Role of Appearance in Peer-to-peer Lending pp. 2455-2484

Jefferson Duarte, Stephan Siegel and Lance Young

Are Investors Really Reluctant to Realize Their Losses? Trading Responses to Past Returns and the Disposition Effect pp. 2485-2532

Itzhak Ben-David and David Hirshleifer

Educational Networks, Mutual Fund Voting Patterns, and CEO Compensation pp. 2533-2562

Alexander Butler and Umit Gurun

No Place Like Home: Familiarity in Mutual Fund Manager Portfolio Choice pp. 2563-2599

Veronika K. Pool, Noah Stoffman and Scott E. Yonker

How Do Retirees Value Life Annuities? Evidence from Public Employees pp. 2601-2634

John Chalmers and Jonathan Reuter

Volume 25, issue 7, 2012

Evaporating Liquidity pp. 2005-2039

Stefan Nagel

The Real Consequences of Market Segmentation pp. 2041-2069

Sergey Chernenko and Adi Sunderam

Lender Screening and the Role of Securitization: Evidence from Prime and Subprime Mortgage Markets pp. 2071-2108

Benjamin Keys, Amit Seru and Vikrant Vig

Asymmetric Information, Portfolio Managers, and Home Bias pp. 2109-2154

Wioletta Dziuda and Jordi Mondria

Examining the Dark Side of Financial Markets: Do Institutions Trade on Information from Investment Bank Connections? pp. 2155-2188

John M. Griffin, Tao Shu and Selim Topaloglu

Rare Disasters and Risk Sharing with Heterogeneous Beliefs pp. 2189-2224

Hui Chen, Scott Joslin and Ngoc-Khanh Tran

Generalized Transform Analysis of Affine Processes and Applications in Finance pp. 2225-2256

Hui Chen and Scott Joslin

Strategic Ownership Structure and the Cost of Debt pp. 2257-2299

Hadiye Aslan and Praveen Kumar

Agency Problems and Endogenous Investment Fluctuations pp. 2301-2342

Giovanni Favara

Volume 25, issue 6, 2012

The Life Cycle of Family Ownership: International Evidence pp. 1675-1712

Julian Franks, Colin Mayer, Paolo Volpin and Hannes Wagner

Creditor Control Rights, Corporate Governance, and Firm Value pp. 1713-1761

Greg Nini, David C. Smith and Amir Sufi

A Reexamination of Tunneling and Business Groups: New Data and New Methods pp. 1763-1798

Jordan Siegel and Prithwiraj Choudhury

Dynamic Debt Runs pp. 1799-1843

Zhiguo He and Wei Xiong

Dynamic Hedging in Incomplete Markets: A Simple Solution pp. 1845-1896

Suleyman Basak and Georgy Chabakauri

Debt Financing and Financial Flexibility Evidence from Proactive Leverage Increases pp. 1897-1929

David J. Denis and Stephen B. McKeon

Fiduciary Duties and Equity-debtholder Conflicts pp. 1931-1969

Bo Becker and Per Strömberg

Executive Compensation and the Role for Corporate Governance Regulation pp. 1971-2004

David L. Dicks

Volume 25, issue 5, 2012

Reviewing Less--Progressing More pp. 1331-1338

Matthew Spiegel

Liquidity and Asset Returns Under Asymmetric Information and Imperfect Competition pp. 1339-1365

Dimitri Vayanos and Jiang Wang

Testing Asymmetric-Information Asset Pricing Models pp. 1366-1413

Bryan Kelly and Alexander Ljungqvist

Lack of Anonymity and the Inference from Order Flow pp. 1414-1456

Juhani T. Linnainmaa and Gideon Saar

Flow Toxicity and Liquidity in a High-frequency World pp. 1457-1493

David Easley, Marcos López de Prado and Maureen O'Hara

Dynamic Compensation Contracts with Private Savings pp. 1494-1549

Zhiguo He

Why Does Financial Strength Forecast Stock Returns? Evidence from Subsequent Demand by Institutional Investors pp. 1550-1587

Nicole Y. Choi and Richard W. Sias

Inflation Expectations, Real Rates, and Risk Premia: Evidence from Inflation Swaps pp. 1588-1629

Joseph Haubrich, George Pennacchi and Peter Ritchken

Skewness in Stock Returns: Reconciling the Evidence on Firm Versus Aggregate Returns pp. 1630-1673

Rui Albuquerque

Volume 25, issue 4, 2012

Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study pp. 975-1032

Utpal Bhattacharya, Andreas Hackethal, Simon Kaesler, Benjamin Loos and Steffen Meyer

Financial Leverage, Corporate Investment, and Stock Returns pp. 1033-1069

Ali Ozdagli

The Hazards of Debt: Rollover Freezes, Incentives, and Bailouts pp. 1070-1110

Ing-Haw Cheng and Konstantin Milbradt

Precarious Politics and Return Volatility pp. 1111-1154

Maria Boutchkova, Hitesh Doshi, Art Durnev and Alexander Molchanov

The Same Bond at Different Prices: Identifying Search Frictions and Selling Pressures pp. 1155-1206

Peter Feldhütter

Bond Liquidity Premia pp. 1207-1254

Jean-Sebastien Fontaine and René Garcia

Finding a Good Price in Opaque Over-the-Counter Markets pp. 1255-1285

Haoxiang Zhu

Treating Measurement Error in Tobin's q pp. 1286-1329

Timothy Erickson and Toni Whited

Volume 25, issue 3, 2012

Journalists and the Stock Market pp. 639-679

Casey Dougal, Joseph Engelberg, Diego García and Christopher A. Parsons

Snow and Leverage pp. 680-710

Xavier Giroud, Holger M. Mueller, Alex Stomper and Arne Westerkamp

Corporate Dividend Policies: Lessons from Private Firms pp. 711-746

Roni Michaely and Michael Roberts

Optimal Priority Structure, Capital Structure, and Investment pp. 747-796

Dirk Hackbarth and David C. Mauer

Corporate Liquidity and Capital Structure pp. 797-837

Ronald W. Anderson and Andrew Carverhill

Trade Credit Contracts pp. 838-867

Leora Klapper, Luc Laeven and Raghuram Rajan

Financing Constraints and the Cost of Capital: Evidence from the Funding of Corporate Pension Plans pp. 868-912

John L. Campbell, Dan S. Dhaliwal and William C. Schwartz

Mutual Fund Tournaments: The Sorting Bias and New Evidence pp. 913-936

Christopher G. Schwarz

Tournament Behavior in Hedge Funds: High-water Marks, Fund Liquidation, and Managerial Stake pp. 937-974

George O. Aragon and Vikram Nanda

Volume 25, issue 2, 2012

Are Corporate Default Probabilities Consistent with the Static Trade-off Theory? pp. 315-340

Armen Hovakimian, Ayla Kayhan and Sheridan Titman

Macroeconomic Conditions and Capital Raising pp. 341-376

Isil Erel, Brandon Julio, Woojin Kim and Michael Weisbach

Assessing TARP pp. 377-407

Dinara Bayazitova and Anil Shivdasani

Do Country-level Investor Protections Affect Security-level Contract Design? Evidence from Foreign Bond Covenants pp. 408-438

Darius P. Miller and Natalia Reisel

Jumps and Information Flow in Financial Markets pp. 439-479

Suzanne S. Lee

Optimal Corporate Governance and Compensation in a Dynamic World pp. 480-521

Thomas Noe and Michael J. Rebello

Takeover Bidding with Signaling Incentives pp. 522-556

Tingjun Liu

Performance of Institutional Trading Desks: An Analysis of Persistence in Trading Costs pp. 557-598

Amber Anand, Paul Irvine, Andy Puckett and Kumar Venkataraman

Commodity Liquidity Measurement and Transaction Costs pp. 599-638

Ben Marshall, Nhut H. Nguyen and Nuttawat Visaltanachoti

Volume 25, issue 1, 2012

Hedge Fund Stock Trading in the Financial Crisis of 2007--2009 pp. 1-54

Itzhak Ben-David, Francesco Franzoni and Rabih Moussawi

Level 3 Assets: Booking Profits and Concealing Losses pp. 55-95

Konstantin Milbradt

The Road Less Traveled: Strategy Distinctiveness and Hedge Fund Performance pp. 96-143

Zheng Sun, Ashley Wang and Lu Zheng

Managerial Attributes and Executive Compensation pp. 144-186

John R. Graham, Si Li and Jiaping Qiu

Corporate Governance Objectives of Labor Union Shareholders: Evidence from Proxy Voting pp. 187-226

Ashwini Agrawal

Takeovers and Divergence of Investor Opinion pp. 227-277

Sris Chatterjee, Kose John and An Yan

The Inventory Growth Spread pp. 278-313

Frederico Belo and Xiaoji Lin