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Paper Spotlight: Do Security Analysts Discipline Credit Rating Agencies?

            Credit ratings agencies are important players in financial markets and they could contribute to efficient resource allocations through information generation. Often, though, expectations of this positive impact are not met in reality because of well-documented biases that credit rating agencies suffer from. Such issues can be due to revolving doors, home biases, and political beliefs of credit analysts. These biases can ultimately have a… Read More »Paper Spotlight: Do Security Analysts Discipline Credit Rating Agencies?

Forthcoming Papers

“Price Uncertainty and Debt Covenants: Evidence from US Oil Producer” by Sandrine Docgne and Diogo Duarte “Regulatory Spillovers in Local Mortgage Markets” by Ivan Lim, Duc Duy Nguyen, and Linh Nguyen

New Issue: September 12(3)

The September issue of RAPS has published! The Editor’s Choice paper is: “Inventory-Constrained Underwriters and Corporate Bond Offerings” by Florian Nagler and Giorgio Ottonello

New Issue: September 35(9)

The September issue of RFS has published! The Editor’s Choice paper is: “Does Career Risk Deter Potential Entrepreneurs?” by Joshua D. Gottlieb, Richard R. Townsend, and Ting Xu

Forthcoming Paper

“Credit supply shocks: financing real growth or takeovers?” by Tobias Berg, Daniel Streitz, and Michael Wedow

Forthcoming Paper

“Capital Structure and the Yield Curve” by Diogo Duarte, Ozde Oztekin, and Yuri F. Saporito

Invitation to Bid: SFS Cavalcade

The Society for Financial Studies invites bids to host future Cavalcades. We are currently accepting bids for 2024-2026. Please see the Invitation to Bid. Deadline to submit bids: September 15, 2022

Paper Spotlight: Sharing R&D Risk in Healthcare via FDA Hedges

                          Recent estimates suggest that the cost of developing a single new drug in the biopharmaceutical sector is $2.6 billion, confirming the very large amounts of money that medical companies invest to develop a new treatment. Biomedical companies also face the risk of very low rates of success, not only due to the inherent scientific risk of developing… Read More »Paper Spotlight: Sharing R&D Risk in Healthcare via FDA Hedges