Intellectual Property Protection and Financial Markets: Patenting versus Secrecy
Nishant Dass, Vikram Nanda, Haemin Dennis Park, Steven Chong Xiao
Review of Finance, Volume 25, Issue 3, May 2021, Pages 669–711, https://doi.org/10.1093/rof/rfaa033
To create value, firms in technology–intensive industries must crucially protect their intellectual property (IP).… Read more...
Intellectual Property Protection and Financial Markets: Patenting versus Secrecy Read More »
The Externalities of Corruption: Evidence from Entrepreneurial Firms in China
Mariassunta Giannetti, Guanmin Liao, Jiaxing You, Xiaoyun Yu
Review of Finance, Volume 25, Issue 3, May 2021, Pages 629–667, https://doi.org/10.1093/rof/rfaa038
Firms around the world attempt to obtain political favors, such as land and other natural resources, government contracts, lenient taxation, relaxed regulatory oversight, or generous financing.… Read more...
The Externalities of Corruption: Evidence from Entrepreneurial Firms in China Read More »
Learning from Feedback: Evidence from New Ventures
Sabrina T Howell
Review of Finance, Volume 25, Issue 3, May 2021, Pages 595–627, https://doi.org/10.1093/rof/rfab006
Why do individuals persist in entrepreneurship? One important dimension of this question – which goes back at least to Knight (1921) – is the degree to which entrepreneurs learn in the sense of type revelation about whether to continue or abandon the venture.… Read more...
Learning from Feedback: Evidence from New Ventures Read More »
Sustainable finance is an increasingly important topic. Within companies, sustainability is no longer an ancillary issue confined to CSR departments, but a CEO-level issue fundamental to the core business. Within the investment industry, sustainability used to be the exclusive domain of “socially responsible investors” who had social as well as financial objectives, but is now mainstream, including among investors with purely financial goals.… Read more...
Call for Papers for Review of Finance Special Issue on Sustainable Finance Read More »
Alex Edmans’ second term as RF Managing Editor ends in December 2022; several years ago the Editors voted to introduce a two-term limit on all editors to ensure that the RF has fresh ideas. We wanted to start the succession planning early to ensure a smooth transition and that the successor is on-board with any new policies or appointments to the editorial board in Alex’s final 18 months.… Read more...
Next RF Managing Editor Read More »
What Drives Global Lending Syndication? Effects of Cross-Country Capital Regulation Gaps
Janet Gao, Yeejin Jang
Review of Finance, Volume 25, Issue 2, March 2021, Pages 519–559, https://doi.org/10.1093/rof/rfaa019
The syndicated lending market is highly globalized, whereby banks participate extensively in syndicates organized by banks from other countries.… Read more...
What Drives Global Lending Syndication? Effects of Cross-Country Capital Regulation Gaps Read More »
What Constrains Liquidity Provision? Evidence from Institutional Trades
Efe Çötelioglu, Francesco Franzoni, Alberto Plazzi
Review of Finance, Volume 25, Issue 2, March 2021, Pages 485–517, https://doi.org/10.1093/rof/rfaa016
In financial markets, buy-side institutions such as mutual funds and hedge funds play an essential role in providing liquidity to satisfy other investors’ demands for immediate execution of orders.… Read more...
What Constrains Liquidity Provision? Evidence from Institutional Trades Read More »
Improving Access to Banking: Evidence from Kenya
Franklin Allen, Elena Carletti, Robert Cull, Jun QJ Qian, Lemma Senbet, Patricio Valenzuela
Review of Finance, Volume 25, Issue 2, March 2021, Pages 403–447, https://doi.org/10.1093/rof/rfaa024
Many Sub-Saharan African countries still face severe financial development gaps in terms of access to financial services.… Read more...
Improving Access to Banking: Evidence from Kenya Read More »
The Persistence of Fee Dispersion among Mutual Funds
Michael J Cooper, Michael Halling, Wenhao Yang
Review of Finance, Volume 25, Issue 2, March 2021, Pages 365–402, https://doi.org/10.1093/rof/rfaa023
The neoclassical model of mutual funds (Berk and van Binsbergen, 2015) argues that percentage fees are irrelevant, as fund size will adjust in equilibrium such that net alphas are equal to zero.… Read more...
The Persistence of Fee Dispersion among Mutual Funds Read More »
First Impression Bias: Evidence from Analyst Forecasts
David Hirshleifer, Ben Lourie, Thomas G Ruchti, Phong Truong
Review of Finance, Volume 25, Issue 2, March 2021, Pages 325–364, https://doi.org/10.1093/rof/rfaa015
We present the tests for first impression bias among professionals in the field.… Read more...
First Impression Bias: Evidence from Analyst Forecasts Read More »