The Call for Papers for the 17th Annual Meeting of the Financial Research Association is now available. The conference will feature a dual submission option with RAPS and RCFS. It will take place in person, December 11-12, 2021, in Las Vegas. The submission deadline is August 31, 2021. Please see the Call for Papers for more details.

“Private Equity and the Resolution of Financial Distress” by Edith Hotchkiss, David Carl Smith, and Per Stromberg

Are managers too myopic, relative to what shareholders would want? In “Short-termism, Managerial Talent, and Firm Value,” Richard Thakor provides a theoretical model in which the answer is “no,” with a surprising twist: In the model, managers prefer long-term projects, because it allows talented managers to earn higher rents. However, to reduce managerial rents, the firm may induce a manager to invest in a short-term project, even though the long-term… Read More »Paper Spotlight: Short-termism, Managerial Talent, and Firm Value

“Disregarding the Shoulders of the Giants: Inferences from Innovation Research” by David Reeb and Wanli Zhao

Do staggered (or classified) boards harm shareholder value through entrenchment or help through stability? In a forthcoming RCFS paper, “Staggered Boards and the Value of Voting Rights,” Oğuzhan Karakaş and Mahdi Mohseni revisit this question by using a novel methodology and provide causal evidence on the entrenchment view of staggered boards. Existence of staggered boards, where only a fraction of board members is up for election in a year, has… Read More »Paper Spotlight: Staggered Boards and the Value of Voting Rights

The 17th Annual Meeting of the Financial Research Association will feature a dual submission option with RAPS and RCFS. The deadline for paper submissions is August 31, 2021. The conference will take place December 11-12, at the Encore Hotel in Las Vegas. Submit online here.