Author name: Patricia Ponce

Tomas Breach, Thomas B King
Review of Finance, Volume 29, Issue 1, January 2025, Pages 33–73, https://doi.org/10.1093/rof/rfae033

Short-term borrowing arrangements collateralized by financial assets—collectively referred to as “securities financing” transactions—are key mechanisms through which investors obtain leverage and engage in arbitrage. … Read more...

Ohad Kadan, Asaf Manela
Review of Finance, Volume 29, Issue 1, January 2025, Pages 1–32, https://doi.org/10.1093/rof/rfae040

In financial markets, the value of information is a crucial factor for investors, analysts, and money managers who allocate resources to research assets. Understanding how much investors would pay for information has broad implications, from determining security analysts’ compensation to penalizing insider trading.… Read more...

Lu Han, Seung-Hyun Hong
Review of Finance, Volume 28, Issue 6, November 2024, Pages 2083–2118, https://doi.org/10.1093/rof/rfae025

The recent decade has witnessed a steady increase in all-cash home purchases, which sky-rocketed to make up nearly one-third of all home purchases in 2021.… Read more...

Gjergji Cici, Pei (Alex) Zhang
Review of Finance, Volume 28, Issue 6, November 2024, Pages 2017–2049, https://doi.org/10.1093/rof/rfae028

The corporate bond market is larger, more illiquid, and presumably less efficient than the equity market. These features provide numerous profit opportunities for active corporate bond mutual funds that are unique to the corporate bond market.… Read more...

Brent Kitchens, Robert Parham, Chris Yung
Review of Finance, Volume 28, Issue 6, November 2024, Pages 1991–2015, https://doi.org/10.1093/rof/rfae030

Selective disclosure allows a subset of privileged investors to gain access to material information before it is released to the public. This early access enables investors to trade on this information, so that market prices incorporate significant information even on days without public news announcements. … Read more...

Dion Bongaerts, Sarah D De Luca, Mark Van Achter
Review of Finance, Volume 28, Issue 6, November 2024, Pages 1953–1989, https://doi.org/10.1093/rof/rfae029

Recently, financial market runs, like the one on SVB bank, have underscored the importance of containing coordination failures in financial markets.… Read more...

Shusen Qi, Ralph De Haas, Steven Ongena, Stefan Straetmans, Tamas Vadasz
Review of Finance, Volume 28, Issue 6, November 2024, Pages 1881–1918, https://doi.org/10.1093/rof/rfae021

This article investigates how the introduction of information sharing between banks influences the spatial clustering of bank branches.… Read more...

Yufeng Han, Ai He, David E Rapach, Guofu Zhou
Review of Finance, Volume 28, Issue 6, November 2024, Pages 1807–1831, https://doi.org/10.1093/rof/rfae027

The Fama-MacBeth regression framework is a workhorse method for analyzing cross-sectional expected stock returns. In this paper, we extend the Fama-MacBeth framework for cross-sectional return prediction to incorporate big data and machine learning.… Read more...