Advertising Arbitrage
Sergey Kovbasyuk, Marco Pagano
Review of Finance, Volume 26, Issue 4, July 2022, Pages 799–827, https://doi.org/10.1093/rof/rfac019
Professional investors often “talk up their book.” That is, they not only disclose their positions and express opinions, but to back their assertions with data on the allegedly mispriced assets.… Read more...
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Economic Policy Uncertainty and the Yield Curve
Markus Leippold, Felix Matthys
Review of Finance, Volume 26, Issue 4, July 2022, Pages 751–797, https://doi.org/10.1093/rof/rfac031
Financial markets respond both acutely and swiftly to unanticipated political events. In times of elevated political uncertainty, safe assets such as government bonds are in high demand by investors.… Read more...
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Finance Leases: In the Shadow of Banks
Jeffery (Jinfan) Chang, Ting Yang, Yanping Shi
Review of Finance, Volume 26, Issue 3, May 2022, Pages 721–749, https://doi.org/10.1093/rof/rfab037
Shadow banking involves credit intermediation activities outside the traditional banking system. In contrast to the United States and Europe, where shadow banking activities have been under ever-increasing scrutiny since the 2008 subprime mortgage crisis, China has witnessed tremendous shadow banking growth since that crisis.… Read more...
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Do Place-Based Policies Promote Local Innovation and Entrepreneurship?
Xuan Tian, Jiajie Xu
Review of Finance, Volume 26, Issue 3, May 2022, Pages 595–635, https://doi.org/10.1093/rof/rfab029
Technological innovation and entrepreneurial activities are key drivers of a nation’s economic growth. Intensive studies have explored a variety of economic, institutional, and social determinants that could promote innovation and entrepreneurial activities.… Read more...
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Investor Attention and Asset Pricing Anomalies
Lei Jiang, Jinyu Liu, Lin Peng, Baolian Wang
Review of Finance, Volume 26, Issue 3, May 2022, Pages 563–593, https://doi.org/10.1093/rof/rfab032
In this paper, Jiang, Liu, Peng, and Wang investigate the relationship between investor attention and financial market anomalies.… Read more...
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Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission
Sumit Agarwal, Yongheng Deng, Quanlin Gu, Jia He, Wenlan Qian, Yuan Ren
Review of Finance, Volume 26, Issue 3, May 2022, Pages 487–520, https://doi.org/10.1093/rof/rfac011
Many countries have witnessed a tremendous increase in house prices fuelled by mortgage debt accumulation, which in turn imposes a substantial financial burden on households.… Read more...
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Cancer and Portfolio Choice: Evidence from Norwegian Register Data
Trond Døskeland, Jens Soerlie Kvaerner
Review of Finance, Volume 26, Issue 2, March 2022, Pages 407–442, https://doi.org/10.1093/rof/rfab022
We examine the effect of a health shock on personal investment decisions. The health shock is a cancer diagnosis.… Read more...
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The Distress Anomaly is Deeper than You Think: Evidence from Stocks and Bond
Doron Avramov, Tarun Chordia, Gergana Jostova, Alexander Philipov
Review of Finance, Volume 26, Issue 2, March 2022, Pages 355–405, https://doi.org/10.1093/rof/rfab025
This paper provides new evidence on the distress anomaly based on a comprehensive sample of stocks and corporate bonds.… Read more...
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The Costs and Benefits of Liquidity Regulations: Lessons from an Idle Monetary Policy Too
Christopher J Curfman, John Kandrac
Review of Finance, Volume 26, Issue 2, March 2022, Pages 319–353, https://doi.org/10.1093/rof/rfab024
Liquidity regulations implemented after the global financial crisis had a transformative effect on the financial system.… Read more...
Third-Party Credit Guarantees and the Cost of Debt: Evidence from Corporate Loans
Mehdi Beyhaghi
Review of Finance, Volume 26, Issue 2, March 2022, Pages 287–317, https://doi.org/10.1093/rof/rfab012
A recent stream of literature highlights the importance of the assets that firms own in their financing decisions.… Read more...
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