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RCFS News

Paper Spotlight: Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

              The COVID-19 pandemic, with its heavy toll on human lives, unemployment, and financial distress, should be considered as an important acid test for firms’ professed investments in their responsibility toward society. It is during such times that we can better understand how to interpret the Environmental, Social, and Governance (ESG) scores, standard proxies for firms’ corporate social responsibility, and what is really driving… Read More »Paper Spotlight: Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash

RCFS Expands to 4 Issues

We are pleased to announce that the Review of Corporate Finance Studies has made the decision to begin publishing four issues per year, starting in 2021. RCFS has experienced a sustained influx of high quality submissions, allowing an increase in our annual number of published papers.

Forthcoming Paper

“Dividends versus Stock Repurchases and Long-Run Stock Returns under Heterogeneous Beliefs” by Onur Bayar, Thomas J. Chemmanur, and Mark H.  Liu

Paper Spotlight: Information Bias in the Proxy Advisory Market

Investors increasingly rely on proxy advisors such as ISS in deciding how to vote in corporate elections. In the paper “Information Bias in the Proxy Advisory Market,” Shichao Ma and Yan Xiong construct a theoretical model to examine the biases that can arise when the proxy advisor is a profit-maximizer. An intuitive finding is that a conflicted proxy advisor provides biased recommendations. More interestingly, if shareholders have either distorted preferences… Read More »Paper Spotlight: Information Bias in the Proxy Advisory Market

Special Issue: COVID-19 Pandemic Crisis and Corporate Finance

RCFS has published a special issue on The COVID-19 Pandemic Crisis and Corporate Finance. This issue, 9(3) November 2020, which features 8 papers, is the first to be published by a finance journal on COVID and corporate finance. It presents important early research on the economic impact of the pandemic. The entire issue is free to read online.

3rd Future of Financial Information Conference

The Call for Papers for Stockholm Business School’s 3rd Future of Financial Information Conference is now available. The conference, which features a dual submission option with the Review of Asset Pricing Studies and the Review of Corporate Finance Studies, will take place May 19-21, 2021, both virtually and on campus. The RAPS sponsoring editor is Thierry Foucault and the RCFS sponsoring editor is Andrew Ellul. The submission deadline is December… Read More »3rd Future of Financial Information Conference

Forthcoming Paper

“Proxy Advisory Firms, Governance, Market Failure, and Regulation” by Chester S. Spatt

Call for Papers: 2021 RCFS Winter Conference

The 2021 RCFS Winter Conference is now accepting submissions. Please see the Call for Papers and the Call for Registered Reports on Discrimination, Disparities, and Diversity in Finance for more details. The conference, which features a dual submission option with RCFS, will take place virtually on February 13 and 14, 2021. The sponsoring editors are Andrew Ellul, Isil Erel, Camelia Kuhnen, and Uday Rajan. The submission deadline is December 1, 2020,… Read More »Call for Papers: 2021 RCFS Winter Conference

Camelia Kuhnen Joins the RCFS Team

Camelia Kuhnen begins her role as an editor of RCFS today. Camelia is a professor of finance and Sarah Graham Kenan distinguished scholar at UNC Kenan-Flagler and a faculty research associate at NBER. She is an expert in household finance, neuroeconomics, and corporate finance. She is an associate editor at the Journal of Finance, the Review of Financial Studies, and Management Science. Camelia previously served as president of the Society… Read More »Camelia Kuhnen Joins the RCFS Team