Our updated guidelines now include detailed specifications on authorship, particularly concerning the disclosure of AI tool involvement in your work. Please consult the Authorship section of our Editorial Policy for more information.
We have also clarified our expectations regarding the use of AI tools and maintaining confidentiality during the review process.… Read more...
Policy Updates for Authors and Referees Read More »
Dual Ownership and Risk-Taking Incentives in Managerial Compensation
Tao Chen, Li Zhang, Qifei Zhu
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1823–1857, https://doi.org/10.1093/rof/rfad007
This paper examines how institutional investors’ simultaneous holding of the same firm’s equity and bonds affects the setting of executive compensation.… Read more...
Dual Ownership and Risk-Taking Incentives in Managerial Compensation Read More »
Risk-Taking and Asymmetric Learning in Boom and Bust Markets
Pascal Kieren, Jan Müller-Dethard, Martin Weber
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1743–1779, https://doi.org/10.1093/rof/rfac072
One of the major puzzles in financial economics is the predictably counter-cyclical nature of the equity risk premium.… Read more...
Risk-Taking and Asymmetric Learning in Boom and Bust Markets Read More »
Escaping Air Pollution: Immigrants, Students, and Spillover Effects on Property Prices Abroad
Yuk Ying Chang and Sudipto Dasgupta
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1699–1741, https://doi.org/10.1093/rof/rfac070
Recent studies document that climate and environmental risks are causing major reallocations of capital and labor as people try to reduce exposure to these risks.… Read more...
Trading on Talent: Human Capital and Firm Performance
Anastassia Fedyk and James Hodson
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1659–1698, https://doi.org/10.1093/rof/rfac068
How is technically-skilled human capital reflected in firm performance? We leverage a uniquely detailed employer-employee matched dataset to measure U.S.… Read more...
Trading on Talent: Human Capital and Firm Performance Read More »
A Theory of the Nominal Character of Stock Securities
Bernard Dumas and Marcel Savioz
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1615–1657, https://doi.org/10.1093/rof/rfac071
One would expect that stocks are perfect hedges against inflation because stocks are backed by physical assets.… Read more...
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Cross-Border Bank Flows and Systemic Risk
G. Andrew Karolyi, John Sedunov and Alvaro G. Taboada
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1563–1614, https://doi.org/10.1093/rof/rfad001
Cross-border bank claims increased from $7.8 trillion in 1995 to a peak of $32.9 trillion in 2007 according to the Bank for International Settlements (BIS, 2009, 2016).… Read more...
Cross-Border Bank Flows and Systemic Risk Read More »
Valuing Data as an Asset
Laura Veldkamp
Review of Finance, Volume 27, Issue 5, September 2023, Pages 1545–1562, https://doi.org/10.1093/rof/rfac073
For many firms in the modern economy, their data is their most valuable asset. But how much is it worth? Columbia Professor Laura Veldkamp lays out six approaches to measure and value data.… Read more...
Valuing Data as an Asset Read More »
For the first time since 2017, we are updating our pricing structure to adapt to rising operational costs. Despite our efforts to keep prices stable, this modest change is essential to allow us to uphold the journal’s high standards and ensure a smooth process for authors and referees.… Read more...
Important Update: Revised Pricing Structure from 2024 Read More »
The Risk of Implicit Guarantees: Evidence from Shadow Banks in China
Ji Huang, Zongbo Huang, Xiang Shao
Review of Finance, Volume 27, Issue 4, July 2023, Pages 1521–1544, https://doi.org/10.1093/rof/rfac061
The Shadow banking sector creates systemic risk through its interconnectedness with commercial banks.… Read more...
The Risk of Implicit Guarantees: Evidence from Shadow Banks in China Read More »