Author name: Patricia Ponce

Donald E Bowen and Jérôme P Taillard
Review of Finance, Volume 29, Issue 3, May 2025, Pages 747–777, https://doi.org/10.1093/rof/rfaf010

The 2002 NYSE/NASDAQ board independence mandates allow us to study how changes in board composition affect firm performance. The mandates required firms to have a majority of independent directors, with two paths to compliance: (1) replacing non-independent directors with independent directors or (2) “reclassifying” existing non-independent directors as independent once they met certain criteria (such as being three years removed from prior employment at the firm).… Read more...

Revisiting Board Independence Mandates: Evidence from Director Reclassifications Read More »

We are pleased to announce that Issue 2 of Volume 29 of the Review of Finance is now available.

Contents:

  1. What drives commodity price variation? (Summary here)
    by Meng Han, Lammertjan Dam, Walter Pohl
  2. Corporate Governance, Meritocracy and Careers (Summary here)
    by Marco Pagano and Luca Picariello
  3. Supervisory cooperation and regulatory arbitrage
    by Thorsten Beck, Consuelo Silva-Buston, Wolf Wagner
  4. Bank Regulation, Investment, and Capital Requirements Under Adverse Selection
    by Thomas J Rivera
  5. A Good Sketch is Better than A Long Speech: Evaluate Delinquency Risk through Real-Time Video Analysis
    by Xiangyu Chang, Lili Dai, Lingbing Feng, Jianlei Han, Jing Shi, Bohui Zhang
  6. Saving Externality: When Depositing Too Much Breaks the Bank (Summary here)
    by Agnese Leonello, Caterina Mendicino, Ettore Panetti, Davide Porcellacchia
  7. How do corporate tax hikes affect investment allocation within multinationals?
… Read more...

Issue 2 of Volume 29 of the Review of Finance is now available! Read More »

Antonio De Vito, Martin Jacob, Dirk Schindler, Guosong Xu
Review of Finance, Volume 29, Issue 2, March 2025, Pages 531–565, https://doi.org/10.1093/rof/rfaf006

This paper studies how corporate tax hikes transmit across countries through multinationals’ internal networks of subsidiaries. Prior theoretical models of tax competition suggest that the investment of a multinational in one country should increase if the business unit is exposed to a foreign corporate tax hike.… Read more...

How do corporate tax hikes affect investment allocation within multinationals? Read More »

Agnese Leonello, Caterina Mendicino, Ettore Panetti, Davide Porcellacchia
Review of Finance, Volume 29, Issue 2, March 2025, Pages 501–530, https://doi.org/10.1093/rof/rfae045

In recent years, banks have experienced unprecedented growth in deposits, particularly during the COVID-19 pandemic. In the U.S., total bank deposits as a percentage of GDP surged by around 15 percentage points in the first quarter of 2020, while the Euro Area saw an increase of approximately 20 percentage points.… Read more...

Saving Externality: When Depositing Too Much Breaks the Bank Read More »

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