Forthcoming Paper
“Global Risk in Long-Term Sovereign Debt” by Nicola Borri and Kirill Shakhnov
Paper Spotlight: Stock Market Information and Innovative Investment in the Supply Chain
There is a growing literature on the stock price of a firm influencing the actions of the firm’s managers. To what extent do managers at other firms rely on the information in the stock price of a given firm? The forthcoming paper “Stock Market Information and Innovative Investment in the Supply Chain,” by Lantian Liang, Ryan Williams, and Steven Chong Xiao, addresses this… Read More »Paper Spotlight: Stock Market Information and Innovative Investment in the Supply Chain
Forthcoming Paper
“Fundamental Arbitrage under the Microscope: Evidence from Detailed Hedge Fund Transaction Data” by Bastian von Beschwitz, Sandro Lunghi, and Daniel Schmidt
RCFS Issue 10(1)
RCFS’s March issue, 10(1), has published online. The Editor’s Choice paper is “Institutional Investors and Hedge Fund Activism” by Simi Kedia, Laura T. Starks, and Xianjue Wang. This issue also features two papers related to the COVID-19 pandemic: “Efficient Programs to Support Businesses During and After Lockdowns ” by Thomas Philippon and “Crisis Poison Pills” by Ofer Eldar and Michael D. Wittry.
Paper Spotlight: Crisis Poison Pills
The stock market stress caused by the onset of the COVID-19 outbreak generated an ideal situation for cash-rich activists to buy strategic equity positions in target firms. Distinguishing low stock valuations due to bad management decisions, potentially necessitating an activist campaign, from the systematic blow due to the pandemic’s economic impact, may have been too difficult under the circumstances we observed in the early months. Some of these activist campaigns… Read More »Paper Spotlight: Crisis Poison Pills
Editor’s Choice 34(4)
The Editor’s Choice paper for 34(4) is “How Do Consumers Fare When Dealing with Debt Collectors? Evidence from Out-of-Court Settlements” by Ing-Haw Cheng, Felipe Severino, and Richard R. Townsend. You can read the paper free online.
Forthcoming Paper
“Skilled Labor Risk and Corporate Policies” by Yue Qiu and Tracy Yue Wang
Paper Spotlight: Efficient Programs to Support Businesses During and After Lockdowns
The scale and scope of various government interventions around the globe in the aftermath of the COVID-19 outbreak have been nothing short of staggering. Programs have come in different forms: guaranteed loans, equity injections, bank loans to SMEs that can be transformed into government-financed grants, etc. The actions taken in the initial stages of the outbreak, necessary to fight the economic fallout, are bound to generate major spillovers going forward.… Read More »Paper Spotlight: Efficient Programs to Support Businesses During and After Lockdowns
Editor’s Choice 10(1)
The Editor’s Choice paper for issue 10(1) is “Institutional Investors and Hedge Fund Activism” by Simi Kedia, Laura T. Starks, and Xianjue Wang. You can read the paper free online.
RAPS Keynote Speaker
The RAPS Cavalcade Keynote will be Eugene Fama (University of Chicago). This very special keynote will consist entirely of questions and answers. Please email your questions to Jeffrey Pontiff. The keynote will take place on Wednesday, May 26, 2021, from 3:45-4:30pm.