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
“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
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
“Cross-sectional skewness” by Sangmin Oh and Jessica Wachter
Now available: Special Issue: Real and Private Value Assets Introduction “Real and Private-Value Assets” by William N. Goetzmann, Christophe Spaenjers, and Stijn Van Nieuwerburgh Editor’s Choice: “Climate Change and Long-Run Discount Rates: Evidence from Real Estate” by Stefano Giglio, Matteo Maggiori, Krishna Rao, Johannes Stroebel, and Andreas Weber
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.
Videos of the paper presentations from Cavalcade North America 2021 are now available on the Cavalcade web site. Our thanks to the MIT Golub Center for Finance and Policy for preparing and hosting the videos.
