Special Issue: COVID-19 and Financial Markets
RAPS has published a bonus issue to address research on the COVID-19 pandemic. This issue, 10(4) December 2020, features an introduction by Lars Peter Hansen. The entire issue is free to read online.
Forthcoming Paper
“Efficient Programs to Support Businesses during Crises” by Thomas Philippon
Editor’s Choice 33(12)
The Editor’s Choice article for 33(12) is “The Deregulation of the Private Equity Markets and the Decline in IPOs” by Michael Ewens and Joan Farre-Mensa. You can read the paper free online.
NBER Big Data and Securities Markets Virtual Conference
The program for the NBER Big Data and Securities Markets Virtual Conference is now available. The conference, which featured a dual submission option with RFS, will take place online December 3-4, 2020. The RFS sponsoring editor is Itay Goldstein.
Position Filled: Part-Time Data Collection Assistant
The position of Part-Time Data Collection Assistant has been filled. Thank you to everyone who submitted a resume.
RCFS Blog Series IV: The COVID-19 Pandemic Crisis and Corporate Finance
In the new entry on the RCFS blog, the RCFS editorial team discusses the new special issue of RCFS on the COVID-19 pandemic crisis and corporate finance. Editors Andrew Ellul, Isil Erel, and Uday Rajan talk about why they decided to publish a special issue on COVID, and the themes they decided to tackle in the issue, including financing of firms, equity shortfall and zombie lending, and firm characteristics and… Read More »RCFS Blog Series IV: The COVID-19 Pandemic Crisis and Corporate Finance
Paper Spotlight: Feverish Stock Price Reactions to COVID-19
The market reactions to the 2019 novel Coronavirus event, a truly exogenous shock, can help our understanding of how real economic shocks and financial policies drive firm value. In “Feverish Stock Price Reactions to COVID-19,” Stefano Ramelli and Alexander F. Wagner find strong causal evidence for the role of international trade and global value chains for corporate value. Initially, internationally-oriented firms, especially those more exposed to China, underperformed. As the… Read More »Paper Spotlight: Feverish Stock Price Reactions to COVID-19
Forthcoming Paper
“Dynamic Asset Pricing with Interactions between Short-Sale and Borrowing Constraints” by Lei Shi and Yajun Xiao
Itay Goldstein in ABC News
Itay Goldstein was interviewed for an ABC News story titled “Why the prospect of a divided government sent stocks soaring.”
Paper Spotlight: Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash
The COVID-19 pandemic, with its heavy toll on human lives, unemployment, and financial distress, should be considered as an important acid test for firms’ professed investments in their responsibility toward society. It is during such times that we can better understand how to interpret the Environmental, Social, and Governance (ESG) scores, standard proxies for firms’ corporate social responsibility, and what is really driving… Read More »Paper Spotlight: Resiliency of Environmental and Social Stocks: An Analysis of the Exogenous COVID-19 Market Crash