2024

Leveraged speculators and asset prices
Wenxi Jiang
Review of Finance, Volume 28, Issue 3, May 2024, Pages 769–804, https://doi.org/10.1093/rof/rfad037

From the episode of the Long-Term Capital Management (LTCM) in 1998 to the stock market crashes in 1929 and 1987, the quant crisis in 2007, the financial crisis in 2007-2008, and the bond market turmoil in 2020, there is ample anecdotal evidence suggesting that excessive leverage used by speculators can greatly amplify market crashes. … Read more...

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Sponsors: The University of Cambridge, the University of Texas at Austin, and the Review of Finance. Programme chairs: Elroy Dimson, Marcin Kacperczyk, and Laura Starks. Venue and date: Cambridge, U.K.: October 9, 2024. Submission Deadline: August 15, 2024

Overview

Biodiversity richness and abundance of natural resources are central to economic prosperity and to cultural and genetic heritage.… Read more...

Call for Research Proposals: Special Issue on Biodiversity and Natural Resource Finance: Call for Research Proposals Read More »

The Review of Finance recognizes the challenges authors face with the extensive refereeing process, often involving numerous rounds of revisions that may not significantly alter the paper’s core message. To address this, we are introducing the “First Choice” policy.

Under this policy, authors submitting papers not yet reviewed by any finance journal are offered a streamlined review process.… Read more...

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The term structure of equity yields—a bottom-up approach
David Schröder
Review of Finance, Volume 28, Issue 2, March 2024, Pages 661–697, https://doi.org/10.1093/rof/rfad036

This article proposes a new perspective on the market equity yield curve. Instead of treating the equity market as one single entity, we go one level deeper and consider the equity market as what it really is — a large market of many different individual equity shares.… Read more...

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Big broad banks: how does cross-selling affect lending?
Yingjie Qi
Review of Finance, Volume 28, Issue 2, March 2024, Pages 551–592, https://doi.org/10.1093/rof/rfad028

Cross-subsidization across multiple products is shown to increase equilibrium profit and reduce competition in the IO literature. This strategy has been documented in many industries, in which firms advertise a base price for a product and try to sell “add-ons” at high prices at the point of sale.… Read more...

Big broad banks: how does cross-selling affect lending? Read More »

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