2025

We are pleased to announce that Issue 5 of Volume 29 of the Review of Finance is now available.

  1. Blockchains for environmental monitoring: theory and empirical evidence from China (Summary here)
    By Lin William Cong, Yuanyu Qu, and Guojun Wang
  2. Privacy policies and consumer data extraction: evidence from US firms (Summary here)
    By Tarun Ramadorai, Antoine Uettwiller, and Ansgar Walther
  3. The effect of mortgage securitization on asset liquidation decisions (Summary here)
    By Anurag A Mehrotra, Adam D Nowak, and Patrick S Smith
  4. Beliefs about beta: upside participation and downside protection (Summary here)
    By Christoph Merkle and Michael Ungeheuer
  5. A disaster explanation of equity term structures
    By Di Wu
  6. Reinvesting or Consuming Dividends: Account Structure Matters (Summary here)
    By Jan Müller-Dethard, Niklas Reinhardt, and Martin Weber
  7. Bank presence and health (Summary here)
    By Kim Fe Cramer
  8. Rent extraction amid borrowers’ adversity: evidence from activist short sellers’ attacks
    By Albert Kwame Mensah, Jeong-Bon Kim, Luc Paugam, and Hervé Stolowy
  9. Save more tomorrow, today: experimental evidence on the role of precommitment, urgency, and personalization (Summary here)
    By Charlton “Eli” Freeman and William Skimmyhorn

To access the complete issue, please click here.… Read more...

Issue 5 of Volume 29 of the Review of Finance is now available! Read More »

We are pleased to announce that Issue 4 of Volume 29 of the Review of Finance is now available.

  1. Market Dominance in the Digital Age (Editor’s Choice)
    by Logan P Emery
  2. The green sin: how exchange rate volatility and financial openness affect green premia
    by Alessandro Moro , Andrea Zaghini
  3. Pricing Event Risk: Evidence from Concave Implied Volatility Curves (Summary here)
    by Lykourgos Alexiou, Amit Goyal, Alexandros Kostakis, Leonidas Rompolis
  4. Return Extrapolation and Dividends
    by Brad Cannon and John Lynch
  5. Exchange-Traded Funds and Transparency in Over-the-Counter Markets
    by Viet-Dung Doan
  6. Not In My Backyard: Intrinsic Motivation and Corporate Pollution Abatement
    by Angie Andrikogiannopoulou, Alexia Ventouri, Scott E Yonker
  7. Extrapolative Income Expectations and Retirement Savings (Summary here)
    by Marta Cota
  8. Passive Ownership and Short Selling (Summary here)
    by Bastian von Beschwitz, Pekka Honkanen, Daniel Schmidt
  9. Industry Tournament Incentives and the U.S.
… Read more...

Issue 4 is now available! Read More »

Tu Nguyen, Sandy Suardi, Jing Zhao
Review of Finance, Volume 29, Issue 4, July 2025, Pages 1259–1302, https://doi.org/10.1093/rof/rfaf026

This study investigates the systemic implications of industry tournament incentives—the external pay disparities among CEOs across similar firms—for financial stability. Motivated by Coles, Li, and Wang (2020), who argue that industry tournament incentives increase managerial risk-seeking behavior, we extend their insight to assess whether these incentives contribute to systemic risk in the financial sector.… Read more...

Industry Tournament Incentives and the U.S. Financial Systemic Risk Read More »

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