The lead article in Volume 23, Issue 5 of the Review of Finance is Credit Market Competition and Liquidity Crises by Elena Carletti and Agnese Leonello. This paper finds that – contrary to common concerns – greater competition in the banking industry can reduce the risk of financial crises. … Read more...
Credit Market Competition and Liquidity Crises Read More »
The Review of Finance congratulates the following award winners:
Pagano/Zechner award for the best non-investments paper
Winner: Gene Amromin, Jennifer Huang, Clemens Sialm, Edward Zhong for Complex Mortgages (summary)
Runner-up: Han Kim, Ernst Maug, Christoph Schneider for Labor Representation in Governance as an Insurance Mechanisms (summary)
Finalists:
2018/9 Best Paper and Best Referee Awards Read More »
The lead article in Volume 23, Issue 4 of the Review of Finance is Are US Industries Becoming More Concentrated? by Gustavo Grullon, Yelena Larkin, and Roni Michaely. This paper finds that industry concentration has increased substantially in the US over the last two decades.… Read more...
Are US Industries Becoming More Concentrated? Read More »
The lead article in Volume 23, Issue 3 of the Review of Finance is Do Credit Default Swaps Mitigate the Impact of Credit Downgrades? by Sudheer Chava, Rohan Ganduri, and Chayawat Ornthanalai. When a firm’s debt is downgraded, its stock price falls, it subsequently raises less debt, and its cost of debt increases. … Read more...
Do Credit Default Swaps Mitigate the Impact of Credit Downgrades? Read More »
The Review of Finance has now added the option to suggest editors. The submission system contains a drop-down where you can make a selection (or choose “None Selected”). We will take author suggestions into account but are not always able to accommodate them due to factors such as workload, fit, and conflicts.… Read more...
Option to Suggest Editors Read More »
The lead article in Volume 23, Issue 2 of the Review of Finance is Labor and Capital Dynamics under Financing Frictions by Ryan Michaels, Beau Page, and Toni Whited. This paper uses a new quarterly panel dataset to examine how financing frictions affect firms’ investment and hiring decisions. … Read more...
Labor and Capital Dynamics Under Financing Frictions Read More »
We have recently updated our information for authors and referees. For authors, this explains the requirement for EU authors to provide VAT information for their institution (or confirm they are paying the submission fee privately), plus the process and timescale of any refunds (e.g.… Read more...
Important update for authors and referees Read More »
(This post is thanks to Editor Amiyatosh Purnanandam)
The lead article in Volume 22, Issue 6 of the Review of Finance is Complex Mortgages by Gene Amromin, Jennifer Huang, Clemens Sialm, and Edward Zhong.
The Changing Nature of Mortgages
Mortgage products were extremely simple in the twentieth century.… Read more...
(This post is thanks to Editor Amit Goyal)
The lead article in Volume 23, Issue 1 of the Review of Finance is “Which Factors?” by Kewei Hou, Haitao Mo, Chen Xue, and Lu Zhang.
A factor model proposes why different stocks have different returns.… Read more...
The lead article in Volume 22, Issue 5 of the Review of Finance is A Theory of Costly Sequential Bidding by Kent Daniel and David Hirshleifer. This paper explains why, in many real-life auctions such as M&A, bidders may engage in “jump-bids” – bid much more than needed to stay in the auction – when it might seem more prudent to bid the minimum possible increment
How to Bid in an Auction?… Read more...
A Theory of Costly Sequential Bidding Read More »