The Call for Papers for the NBER Big Data and Securities Markets Virtual Conference is now available. The conference, which features a dual submission option with RFS, will take place online December 3-4, 2020. The RFS sponsoring editor is Itay Goldstein. The submission deadline is September 27, 2020.
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
We are pleased to welcome Xin Fan to the advisory editor team. Our advisory editors perform important tasks for new submissions, including the crucial task of recommending reviewers. Xin begins her role on August 16, 2020. We are thankful to Scott Guernsey, who will complete his role as an advisory editor on August 16. We wish him the best of luck in his new role at the University of Tennessee’s… Read More »Advisory Editor
“Volatility markets underreacted to the early stages of the COVID-19 pandemic” by Ing-Haw Cheng
Our publisher, Oxford University Press, has pledged to make content related to COVID-19 freely accessible online. The Review of Asset Pricing Studies and The Review of Corporate Finance Studies have forthcoming special issues on COVID-19. These papers will be freely accessible online as part of OUP’s collection. You can read these papers as they become available on advance access (RAPS) and advance access (RCFS).
The determinants of executive compensation packages are fraught with empirical difficulties due to unobserved firm-level, CEO-level, and assortative matching characteristics. In the paper “Managerial Attributes, Incentives, and Performance,” just published in the August 2020 issue (Volume 9, Issue 2), Jeff Coles and Frank Li examine the relative importance of observable and unobservable firm- and manager-specific characteristics in determining two fundamental attributes of executive incentives, delta and vega. They find that… Read More »Paper Spotlight: Managerial Attributes, Incentives, and Performance
Oxford University Press presents the Responses to Economic Shocks Collection, featuring papers from RAPS, RCFS, and RFS. The following papers are included: RAPS -Preventing Controversial Catastrophes by Steven D. Baker, Burton Hollifield, and Emilio Osambela -Economic Uncertainty and Interest Rates by Samuel M. Hartzmark RCFS -How Do Laws and Institutions Affect Recovery Rates for Collateral? by Hans Degryse, Vasso Ioannidou, José María Liberti, and Jason Sturgess -The Financial Crisis of… Read More »Responses to Economic Shocks Collection
“The Macroeconomics of Corporate Debt” by Markus K. Brunnermeier and Arvind Krishnamurthy “The risk of being a fallen angel and the corporate dash for cash in the midst of COVID” by Viral Acharya and Sascha Steffen “The COVID-19 Shock and Equity Shortfall: Firm-level Evidence from Italy” by Elena Carletti, Tommaso Oliviero, Marco Pagano, Loriana Pelizzon, and Marti G. Subrahmanyam
“The Value Premium” by Eugene F. Fama and Kenneth R. French
In the RCFS blog, Professor Ellul discusses Boris Vallée‘s paper “Banks’ Contingent Capital Trigger Effects,” which won the RCFS’s 2020 Rising Scholar Award. Vallée finds that liability management exercises, a type of contingent capital trigger used by banks, are effective at improving banks’ capitalization levels. This finding is particularly important during the COVID-19 pandemic, when economic downturn is likely to put pressure on banks. Read the full post on the blog.
