Trading Volume and Time Varying Betas
Christopher Hrdlicka
Review of Finance, Volume 26, Issue 1, February 2022, Pages 79 – 116, https://doi.org/10.1093/rof/rfab014
Asset’s risks change overtime. These changes are central to understanding price dynamics. I show that these risk changes also drive trade.… Read more...
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Secondary Market Transparency and Corporate Bond Issuing Costs
James Brugler, Carole Comerton-Forde, J Spencer Martin
Review of Finance, Volume 26, Issue 1, February 2022, Pages 43 – 77, https://doi.org/10.1093/rof/rfab017
We examine the impact of increased secondary market transparency following the introduction of mandated post-trade transparency (TRACE) in the US corporate bond market.… Read more...
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Central Hub M&A Advisors
Alfred Yawson, Huizhong Zhang
Review of Finance, Volume 25, Issue 6, November 2021, Pages 1817–1857, https://doi.org/10.1093/rof/rfaa043
We examine how an M&A advisor’s horizontal relationships with other investment banks affects its ability to provide value-enhancing advice for acquiring firms.… Read more...
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Informed Trading and Momentum in the Corporate Bond Market
Lifang Li, Valentina Galvani
Review of Finance, Volume 25, Issue 6, November 2021, Pages 1773–1816, https://doi.org/10.1093/rof/rfab004
This study is the first attempt to explore the mechanism underlying the momentum effect in the corporate bond market.… Read more...
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Disastrous Defaults
Christian Gouriéroux, Alain Monfort, Sarah Mouabbi, Jean-Paul Renne
Review of Finance, Volume 25, Issue 6, November 2021, Pages 1727–1772, https://doi.org/10.1093/rof/rfaa042
Recent events suggest that the default of a systemic entity per se may very well constitute a disaster in itself.… Read more...
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Do Country-Level Creditor Protections Affect Firm-Level Debt Structure Concentration?
Kose John, Mahsa S Kaviani, Lawrence Kryzanowski, Hosein Maleki
Review of Finance, Volume 25, Issue 6, November 2021, Pages 1677–1725, https://doi.org/10.1093/rof/rfab011
One major consideration for firms’ financing and investment decisions is the probability of an inefficient liquidation.… Read more...
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Stress Tests, Entrepreneurship, and Innovation
Sebastian Doerr
Review of Finance, Volume 25, Issue 5, September 2021, Pages 1609–1637, https://doi.org/10.1093/rof/rfab007
The financial crisis of 2007/08 led to a severe recession and revealed that banks had taken on excessive risk in its run-up.… Read more...
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Sovereign Credit Quality and Violations of the Law of One Price
Jacob Boudoukh, Jordan Brooks, Matthew Richardson, Zhikai Xu
Review of Finance, Volume 25, Issue 5, September 2021, Pages 1581–1607, https://doi.org/10.1093/rof/rfab001
Numerous violations of the law of one price for financial assets (i.e.,… Read more...
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The Dollar Profits to Insider Trading
Peter Cziraki, Jasmin Gider
Review of Finance, Volume 25, Issue 5, September 2021, Pages 1547–1580, https://doi.org/10.1093/rof/rfab010
The notion that corporate insiders possess more information about their firm than outside investors plays an important role in models of financial markets.… Read more...
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Hub-and-Spoke Regulation and Bank Leverage
Yadav Gopalan, Ankit Kalda, Asaf Manela
Review of Finance, Volume 25, Issue 5, September 2021, Pages 1499–1545, https://doi.org/10.1093/rof/rfab019
Regulators often delegate monitoring to local supervisors, which can improve information collection, but can also lead to agency problems and capture.… Read more...
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