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Joint Statement by the Editors of the JF, RFS, and the Incoming Editor of the JFE Concerning Referee Confidentiality

A recent paper by the current editor of the Journal of Financial Economics posted on SSRN on December 15, 2020 revealed paper acceptance rates by individual referees at the JFE. The editors of the JF, RFS, and the incoming editor of the JFE hereby affirm our commitment to never publicly disclose data that could reveal individual referees’ confidential recommendations, or any other confidential information about the editorial process. The editors… Read More »Joint Statement by the Editors of the JF, RFS, and the Incoming Editor of the JFE Concerning Referee Confidentiality

Forthcoming Papers

“Can Individual Investors Beat the Market?” by Joshua Coval, David Hirshleifer, and Tyler Shumway “Is Positive Sentiment in Corporate Annual Reports Informative? Evidence from Deep Learning” by Mehran Azimi and Anup Agrawal “Are Monthly Market Returns Predictable?” by Jussi Keppo, Tyler Shumway, and Daniel Weagley

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

RCFS Winter Conference: Update

The deadline for submissions of papers and registered reports for the RCFS Winter Conference is over. The Editorial Board has received 410 papers and 32 registered reports. We will finish the review process in early January and will inform all submitters by mid-January 2021.

Editor’s Choice 34(1)

  • RFS News

The Editor’s Choice article for 34(1) is “CAPM-Based Company (Mis)valuations” by Olivier Dessaint, Jacques Olivier, Clemens A. Otto, and David Thesmar. You can read the paper free online.

Paper Spotlight: Short-Selling Bans and Bank Stability

            Regulators around the world often react to financial crises by restricting short sales of bank stocks to maintain financial stability. Then, a natural question to ask is whether these short-selling restrictions end up alleviating unwarranted price drops for banks and hence protect vulnerable financial institutions. In a forthcoming RCFS paper, “Short-Selling Bans and Bank Stability,” Alessandro Beber, Daniela Fabbri, Marco Pagano, and Saverio Simonelli… Read More »Paper Spotlight: Short-Selling Bans and Bank Stability

Forthcoming Paper

“The Sound Of Many Funds Rebalancing” by Alexander Chinco and Vyacheslav Fos

SFS Cavalcade North America 2021 to be Hosted by MIT GCFP

  • SFS News

We are pleased to announce that SFS Cavalcade North America 2021 will be hosted by the MIT Golub Center for Finance and Policy. The conference will be held virtually on Zoom from May 24-27, 2021. Registration will be available in 2021 on the Cavalcade web site.

Forthcoming Papers

“The Effect of Taxation on Corporate Financing and Investment” by Hong Chen and Murray Frank “How are Bankers Paid?” by Benjamin Bennett, Radhakrishnan Gopalan, and Anjan V. Thakor