RFS News

“Incentivizing Effort and Informing Investment: The Dual Role of Stock Prices” by Naveen Gondhi, Snehal Banerjee, and Jesse Davis

“Optimal Time-Consistent Debt Policies” by Andrey Malenko and Anton Tsoy

RFS is pleased to announce the appointment of Xavier Giroud as an Editor beginning October 1, 2025. Xavier is the Stefan H. Robock Professor of Finance and Economics at Columbia Business School, an NBER Research Associate, and a CEPR Research Fellow. Xavier also served as an Associate Editor of RFS from 2019-2022. Please join us in welcoming Xavier.

“Stablecoin Runs and the Centralization of Arbitrage” by Yiming Ma, Yao Zeng, and Anthony Lee Zhang

Congratulations to RFS Executive Editor Tarun Ramadorai and co-authors Lu Liu, Alessandro Gavazza, Jack Fisher, and Jagdish Tripathy on winning the Jensen Prize for their paper, “Refinancing Cross-subsidies in the UK Mortgage Market,” published in the Journal of Financial Economics in 2024.

“Mutual Fund Clienteles” by Daniel Fricke, Stephan Jank, and Hannes Wilke

“Are All ESG Funds Created Equal? Only Some Funds Are Committed” by Michelle Lowry, Pingle Wang, and Kelsey Wei

Due to unforeseen personal circumstances, Gerard Hoberg will be stepping down from his appointment to the RFS editorial board. We wish him all the best.

“Passive Investing and the Rise of Mega-Firms” by Hao Jiang, Dimitri Vayanos, and Lu Zheng

“High-Yield Debt Covenants and Their Real Effects” by Falk Brauning,Victoria Ivashina, and Ali Kivilcim Ozdagli