Editor’s Choice 34(9)
The Editor’s Choice paper for 34(9) is “The Economics of the Fed Put” by Anna Cieslak and Annette Vissing-Jorgensen. You can read the paper free online.
Editor’s Choice
The Editor’s Choice paper for issue 11(2) is “Disagreement after News: Gradual Information Diffusion or Differences of Opinion?” by Anastassia Fedyk. Editor’s Choice papers are free to read on our publisher’s web site.
Paper Spotlight: Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections
Recent survey evidence shows that the list of institutional investors paying close attention to environmental issues, with a consequent impact on their investment decisions, is increasing. A central factor that ought to be considered is the role of government regulation, especially the uncertainty surrounding it, and subsequent response of firms to those regulations against the background of a worsening environmental scenario. This is… Read More »Paper Spotlight: Investor Rewards to Climate Responsibility: Stock-Price Responses to the Opposite Shocks of the 2016 and 2020 U.S. Elections
Forthcoming Paper
“Working Remotely and the Supply-Side Impact of COVID-19” by Dimitris Papanikolaou and Lawrence David Warren Schmidt
17th Financial Research Association Conference
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.
Forthcoming Paper
“Private Equity and the Resolution of Financial Distress” by Edith Hotchkiss, David Carl Smith, and Per Stromberg
Forthcoming Papers
“Measuring Operating Leverage” by Huafeng Jason Chen, Jason V. Chen, Feng Li, and Pengfei Li “Firm Characteristics and Global Stock Returns: A Conditional Asset Pricing Model” by Steffen Windmueller
Paper Spotlight: Short-termism, Managerial Talent, and Firm Value
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
Forthcoming Paper
“Disregarding the Shoulders of the Giants: Inferences from Innovation Research” by David Reeb and Wanli Zhao
Paper Spotlight: Staggered Boards and the Value of Voting Rights
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