Marianne Andries, Thomas M Eisenbach, R Jay Kahn, and Martin C Schmalz
Review of Finance, Volume 29, Issue 6, November 2025, Pages 1699–1720, https://doi.org/10.1093/rof/rfaf029
The risks facing investors have a rich term structure with some risks relevant at shorter maturities and other risks relevant at longer maturities.… Read more...
The term structure of the price of variance risk Read More »
Jan Bena and Elena Simintzi
Review of Finance, Volume 29, Issue 6, November 2025, Pages 1619–1661, https://doi.org/10.1093/rof/rfaf040
China’s economic opening transformed global production, with far-reaching consequences for the U.S. economy. While the literature has emphasized the impact of import competition from China on the U.S.… Read more...
Machines could not compete with Chinese labor: evidence from US firms’ innovation Read More »
The Review of Finance is pleased to announce its partnership with the 9th World Symposium on Investment Research (WSIR), which will be held in Edinburgh, Scotland, on May 3–4, 2026.
This collaboration strengthens the journal’s commitment to fostering high-quality scholarship in investment research and provides authors with an additional opportunity to reach both the academic community and the readership of the Review of Finance.… Read more...
Partnership between the Review of Finance and the World Symposium on Investment Research Read More »
Charlton “Eli” Freeman, and William Skimmyhorn
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1587–1618, https://doi.org/10.1093/rof/rfaf027
Effectively saving for retirement requires workers to coordinate savings across different accounts (e.g., Social Security, IRAs, defined contribution plans) and to select appropriate contribution rates, tasks for which they may not be prepared.… Read more...
Kim Fe Cramer
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1497–1535, https://doi.org/10.1093/rof/rfaf032
What are the general equilibrium effects of banks on households? Previous research has focused on labor markets. Banks extend credit to firms, thereby fostering economic activity and employment.… Read more...
Bank presence and health Read More »
Jan Müller-Dethard, Niklas Reinhardt, and Martin Weber
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1467–1495, https://doi.org/10.1093/rof/rfaf031
It is a long-standing fact that households mostly consume and rarely reinvest dividends. Among representative brokerage clients of one of Germany’s largest banks, we find the opposite: 80% reinvestments, 12% consumption.… Read more...
Reinvesting or Consuming Dividends: Account Structure Matters Read More »
Christoph Merkle, Michael Ungeheuer
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1397–1436, https://doi.org/10.1093/rof/rfaf028
Our study examines how investors perceive the sensitivity of their stock portfolios to overall market movements—commonly measured by market beta—using data from four large-scale online experiments.… Read more...
Beliefs about beta: upside participation and downside protection Read More »
Anurag A Mehrotra, Adam D Nowak, and Patrick S Smith
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1369–1395, https://doi.org/10.1093/rof/rfaf038
This paper tests for a principal-agent conflict in mortgage markets by examining the effect of securitization on servicers’ choice of asset liquidation channels: short sale versus real estate owned (REO).… Read more...
The effect of mortgage securitization on asset liquidation decisions Read More »
Tarun Ramadorai, Antoine Uettwiller, and Ansgar Walther
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1337–1367, https://doi.org/10.1093/rof/rfaf017
In this paper, we examine the heterogeneity in firms’ data extraction practices and privacy policies using a comprehensive dataset covering over 5,000 U.S.… Read more...
Privacy policies and consumer data extraction: evidence from US firms Read More »
Lin William Cong, Yuanyu Qu, and Guojun Wang
Review of Finance, Volume 29, Issue 5, September 2025, Pages 1303–1336, https://doi.org/10.1093/rof/rfaf033
Environmental monitoring faces data manipulation issues, undermining protection efforts. Blockchain technology offers a solution with its tamper-proof nature, enhancing data reliability.… Read more...
Blockchains for environmental monitoring: theory and empirical evidence from China Read More »