What Do Stock Markets Tell Us about Exchange Rates?
Review of Finance, Volume 20, Issue 3, 1 May 2016, Pages 1045–1080,https://doi.org/10.1093/rof/rfv032
An investor holding foreign equities is naturally exposed to exchange rate fluctuations.… Read more...
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Downside Market Risk of Carry Trades
Victoria Dobrynskaya
Review of Finance, Volume 18, Issue 5, 1 August 2014, Pages 1885–1913, https://doi.org/10.1093/rof/rfu004
According to uncovered interest parity, free capital mobility ensures that investments in different currencies with different levels of local interest rates do not consistently generate excess returns because a positive interest rate differential should be compensated by the expected exchange rate depreciation of the target currency.… Read more...
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Investing in a Global World
Review of Finance, Volume 18, Issue 2, 1 April 2014, Pages 561–590,https://doi.org/10.1093/rof/rft015
There is ample evidence on the performance and persistence of funds (both retail and institutional) that invest in U.S.… Read more...
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Regulating Conflicts of Interest: The Effect of Sanctions and Enforcement
Review of Finance, Volume 18, Issue 2, 1 April 2014, Pages 489–526,https://doi.org/10.1093/rof/rft010
Over the past decades, securities firms and their analysts have been accused of producing overly optimistic research (e.g.,… Read more...
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Financial Sector Reform after the Subprime Crisis: Has Anything Happened?
Review of Finance, Volume 20, Issue 1, 1 March 2016, Pages 77–125,https://doi.org/10.1093/rof/rfu055
After the near-collapse of large parts of the financial system and unprecedented bail-outs in the subprime crisis, the leaders of the G20 agreed on the need to overhaul the financial system.… Read more...
Financial Sector Reform after the Subprime Crisis: Has Anything Happened? Read More »
The Revolving Door for Financial Regulators
Review of Finance, Volume 21, Issue 4, 1 July 2017, Pages 1445–1484,https://doi.org/10.1093/rof/rfw035
Public attention and media coverage often focus on the migration of employees between regulatory agencies and regulated firms.… Read more...
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The Impact of Public Guarantees on Bank Risk-Taking: Evidence from a Natural Experiment
Review of Finance, Volume 18, Issue 2, 1 April 2014, Pages 457–488,https://doi.org/10.1093/rof/rft014
Public guarantees in the wake of the financial crisis of 2007/2008 have been wide-spread.… Read more...
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The Cost of Political Connections
Review of Finance, Volume 22, Issue 3, 1 May 2018, Pages 849–876, https://doi.org/10.1093/rof/rfy008
Existing research generally shows that political connections are of significant value to firms, because political leaders grant favors to the connected firms.… Read more...
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Can Socially Responsible Firms Survive Competition? An Analysis of Corporate Employee Matching Grant Schemes
Ning Gong; Bruce D Grundy
Review of Finance, Volume 23, Issue 1, 1 February 2019, Pages 199–243, https://doi.org/10.1093/rof/rfx025
Coordinating Employees Charitable Giving through Employee Matching Grants
In 2017, total US corporate giving amounted to $20.77 billion and approximately one third of S&P 1500 firms offer matching grants to support employee charitable giving.… Read more...
The Effects of Horizontal Merger Operating Efficiencies on Rivals, Customers, and Suppliers
Gennaro Bernile; Evgeny Lyandres
Review of Finance, Volume 23, Issue 1, 1 February 2019, Pages 117–160, https://doi.org/10.1093/rof/rfy017
Mergers and acquisitions can impact not only the merging firms, but also firms that are economically linked to them: those competing with the merging firms in product markets (rivals) as well as those operating along the merging firms’ supply chains (corporate customers and suppliers).… Read more...