Journal of Financial Economics

Article	Citations
How much should we trust staggered difference-in-differences estimates?	972
Do investors care about carbon risk?	951
Sustainable investing in equilibrium	738
Corporate green bonds	687
Responsible investing: The ESG-efficient frontier	686
Corporate immunity to the COVID-19 pandemic	650
Impact investing	322
Dissecting green returns	315
Sustainable investing with ESG rating uncertainty	272
The financing of local government in China: Stimulus loan wanes and shadow banking waxes	255
Count (and count-like) data in finance	251
The Big Three and corporate carbon emissions around the world	218
What do you think about climate finance?	215
Socially responsible corporate customers	205
The real value of China’s stock market	195
Air pollution, affect, and forecasting bias: Evidence from Chinese financial analysts	186
Machine learning in the Chinese stock market	184
Real effects of climate policy: Financial constraints and spillovers	178
Consumer-lending discrimination in the FinTech Era	172
Stock market liberalization and innovation	167
Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis	161
Risk management, firm reputation, and the impact of successful cyberattacks on target firms	157
Policy uncertainty and corporate credit spreads	142
Corporate culture: Evidence from the field	137
Financial education affects financial knowledge and downstream behaviors	134

Shared analyst coverage: Unifying momentum spillover effects	131
Treasury inconvenience yields during the COVID-19 crisis	120
Internet searching and stock price crash risk: Evidence from a quasi-natural experiment	116
Terrorist attacks and investor risk preference: Evidence from mutual fund flows	113
Investor ideology	111
Salience theory and stock prices: Empirical evidence	107
Does the stock market make firms more productive?	105
IQ from IP: Simplifying search in portfolio choice	105
Air pollution, behavioral bias, and the disposition effect in China	100
On the fast track: Information acquisition costs and information production	98
Corporate bond mutual funds and asset fire sales	98
Lucky factors	97
At the table but can not break through the glass ceiling:Board leadership positions elude diverse directors	96
Who's paying attention? Measuring common ownership and its impact on managerial incentives	93
Common ownership and competition in product markets	92
Capital requirements, risk choice, and liquidity provision in a business-cycle model	91
Mood beta and seasonalities in stock returns	91
Does common ownership really increase firm coordination?	90
Information flows among rivals and corporate investment	90
Retail trader sophistication and stock market quality: Evidence from brokerage outages	89
Token-based platform finance	87
Sophisticated investors and market efficiency: Evidence from a natural experiment	85
All the president's friends: Political access and firm value	85
Extrapolative beliefs in the cross-section: What can we learn from the crowds?	85
Did the paycheck protection program hit the target?	84
Bank monitoring: Evidence from syndicated loans	82
Understanding momentum and reversal	81
Flattening the curve: Pandemic-Induced revaluation of urban real estate	81
Asset pricing: A tale of night and day	80
Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program	80
Fund tradeoffs	80
The persistent effect of initial success: Evidence from venture capital	79
In sickness and in debt: The COVID-19 impact on sovereign credit risk	78
CEO-board dynamics	77
The local innovation spillovers of listed firms	76
Loan guarantees and credit supply	75
Bank liquidity provision across the firm size distribution	74
The price effects of liquidity shocks: A study of the SEC’s tick size experiment	73
On the performance of volatility-managed portfolios	73
On the direct and indirect real effects of credit supply shocks	73
Spillover effects in empirical corporate finance	72
The democratization of investment research and the informativeness of retail investor trading	72
Risk perceptions and politics: Evidence from the COVID-19 pandemic	72
When the local newspaper leaves town: The effects of local newspaper closures on corporate misconduct	72
Do dividends convey information about future earnings?	72
Tick size, liquidity for small and large orders, and price informativeness: Evidence from the Tick Size Pilot Program	71
Democracy and credit	69
Concentration of control rights in leveraged loan syndicates	67
Long-term reversals in the corporate bond market	67
Security analysts and capital market anomalies	65

Inspecting the mechanism of quantitative easing in the euro area	65
Mutual fund investments in private firms	65
Market efficiency in the age of big data	64
Systematic risk, debt maturity, and the term structure of credit spreads	64
Dancing with activists	64
Is conflicted investment advice better than no advice?	63
Firm selection and corporate cash holdings	62
Corporate actions and the manipulation of retail investors in China: An analysis of stock splits	62
The cross-section of intraday and overnight returns	61
Targeted monetary policy and bank lending behavior	58
Venture capital contracts	58
Investor experiences and financial market dynamics	57
A picture is worth a thousand words: Measuring investor sentiment by combining machine learning and photos from news	57
Surprise election for Trump connections	57
Subnational debt of China: The politics-finance nexus	57
Taming the bias zoo	56
Credit migration and covered interest rate parity	56
Game on: Social networks and markets	56
Uncertainty, access to debt, and firm precautionary behavior	55
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?	55
What you see is not what you get: The costs of trading market anomalies	54
Do people feel less at risk? Evidence from disaster experience	54
Access to public capital markets and employment growth	54
Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis	54
Color and credit: Race, regulation, and the quality of financial services	52
Business cycles and currency returns	52
Does mutual fund illiquidity introduce fragility into asset prices? Evidence from the corporate bond market	51
Sticking to your plan: The role of present bias for credit card paydown	51
Premium for heightened uncertainty: Explaining pre-announcement market returns	51
Bitcoin’s limited adoption problem	50
Optimal financing with tokens	50
Reducing information frictions in venture capital: The role of new venture competitions	50
It’s not so bad: Director bankruptcy experience and corporate risk-taking	49
Common shocks in stocks and bonds	49
It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities	48
Short-term debt and incentives for risk-taking	48
Decomposing firm value	48
Let the rich be flooded: The distribution of financial aid and distress after hurricane harvey	47
Contracts with (Social) benefits: The implementation of impact investing	47
Do limits to arbitrage explain the benefits of volatility-managed portfolios?	47
Music sentiment and stock returns around the world	47
Factors and risk premia in individual international stock returns	47
Disguised corruption: Evidence from consumer credit in China	47
The conditional expected market return	47
Risk-free interest rates	46
Identifying and boosting “Gazelles”: Evidence from business accelerators	45
Reconstructing the yield curve	45
Macro news and micro news: Complements or substitutes?	45
Open banking: Credit market competition when borrowers own the data	45
Central bank communication and the yield curve	45
The electronic evolution of corporate bond dealers	44
The term structure of equity risk premia	44
Betting against betting against beta	44
Shielding firm value: Employment protection and process innovation	44
The Sources of Financing Constraints	44
Windfall gains and stock market participation	44
Time-varying inflation risk and stock returns	44
CoCo issuance and bank fragility	43
Is there a zero lower bound? The effects of negative policy rates on banks and firms	43
Portfolio similarity and asset liquidation in the insurance industry	43
Intraday arbitrage between ETFs and their underlying portfolios	43
Hedging macroeconomic and financial uncertainty and volatility	42
Asymmetric information risk in FX markets	42
IPO peer effects	42
Corporate flexibility in a time of crisis	42
The short duration premium	42
Diagnostic bubbles	41
The design and transmission of central bank liquidity provisions	41
And the children shall lead: Gender diversity and performance in venture capital	41
Dissecting bankruptcy frictions	41
Salience theory and the cross-section of stock returns: International and further evidence	41
Bias in the effective bid-ask spread	40
Hedging demand and market intraday momentum	40
Compensation disclosures and strategic commitment: Evidence from revenue-based pay	40
The micro and macro of managerial beliefs	40
Institutional allocations in the primary market for corporate bonds	40
Time-varying demand for lottery: Speculation ahead of earnings announcements	39
Asset pricing with return extrapolation	39
Oil volatility risk	39
A factor model for option returns	38

The cost of steering in financial markets: Evidence from the mortgage market	38
Global currency hedging with common risk factors	38
Risky bank guarantees	38
Mispricing, short-sale constraints, and the cross-section of option returns	38
Temperature shocks and industry earnings news	37
Global market inefficiencies	37
News as sources of jumps in stock returns: Evidence from 21 million news articles for 9000 companies	37
Are disagreements agreeable? Evidence from information aggregation	37
Retail shareholder participation in the proxy process: Monitoring, engagement, and voting	37
Pervasive underreaction: Evidence from high-frequency data	37
Signaling safety	37
Does the lack of financial stability impair the transmission of monetary policy?	37
Activism and empire building	36
Is the credit spread puzzle a myth?	36
Portfolio choice with sustainable spending: A model of reaching for yield	36
Collateral and asymmetric information in lending markets	36
Sovereign credit risk and exchange rates: Evidence from CDS quanto spreads	36
Overnight returns, daytime reversals, and future stock returns	36
The effect of media-linked directors on financing and external governance	36
The role of financial conditions in portfolio choices: The case of insurers	36
The telegraph and modern banking development, 1881–1936	35
Do activist hedge funds target female CEOs? The role of CEO gender in hedge fund activism	35
Monetary policy at work: Security and credit application registers evidence	35
Issuance overpricing of China's corporate debt securities	35
Global factor premiums	35
Regulatory cooperation and foreign portfolio investment	35
The paradox of pledgeability	35
Competition, profitability, and discount rates	35
Financial development and labor market outcomes: Evidence from Brazil	34
On index investing	34
Spectral factor models	34
Expected return, volume, and mispricing	34
Investors’ appetite for money-like assets: The MMF industry after the 2014 regulatory reform	34
CEOs’ outside opportunities and relative performance evaluation: evidence from a natural experiment	34
Bank transparency and deposit flows	34
Sentiment and uncertainty	34
Peer selection and valuation in mergers and acquisitions	34
Real effects of share repurchases legalization on corporate behaviors	33
Does customer-base structure influence managerial risk-taking incentives?	33
The effect of stock liquidity on cash holdings: The repurchase motive	33
Trade credit and profitability in production networks	33
Agency conflicts and short- versus long-termism in corporate policies	33
Learning from noise: Evidence from India’s IPO lotteries	33
The economic impact of right-to-work laws: Evidence from collective bargaining agreements and corporate policies	33
Market expectations of a warming climate	33
The effect of minority veto rights on controller pay tunneling	33
Locked in by leverage: Job search during the housing crisis	33
Prime (information) brokerage	33
Persistent negative cash flows, staged financing, and the stockpiling of cash balances	32
The effect of exogenous information on voluntary disclosure and market quality	32
The impact of consumer credit access on self-employment and entrepreneurship	32
Liquidity regimes and optimal dynamic asset allocation	32
High policy uncertainty and low implied market volatility: An academic puzzle?	31
GSIB surcharges and bank lending: Evidence from US corporate loan data	31
Who provides liquidity, and when?	31
The importance of being special: Repo markets during the crisis	31
Life after LIBOR	31
Flying under the radar: The effects of short-sale disclosure rules on investor behavior and stock prices	30
Eye in the sky: Private satellites and government macro data	30
Pirates without borders: The propagation of cyberattacks through firms’ supply chains	30
The creation and evolution of entrepreneurial public markets	30
Directors’ career concerns: Evidence from proxy contests and board interlocks	30
Disappearing and reappearing dividends	29
Politicizing consumer credit	29
Ransomware activity and blockchain congestion	29
Rare disaster probability and options pricing	29
The missing risk premium in exchange rates	29
The cross section of the monetary policy announcement premium	29
Does the Ross recovery theorem work empirically?	28
Asset prices, midterm elections, and political uncertainty	28
Investing outside the box: Evidence from alternative vehicles in private equity	28
Calendar rotations: A new approach for studying the impact of timing using earnings announcements	28
Social interactions and households’ flood insurance decisions	28
Negative peer disclosure	28
Estimating the anomaly base rate	28
Death by committee? An analysis of corporate board (sub-) committees	28
Democracy and the pricing of initial public offerings around the world	27
The scarcity effect of QE on repo rates: Evidence from the euro area	27
Geographic diversification and bank lending during crises	27
Foreign investment of US multinationals: The effect of tax policy and agency conflicts.	27
Sitting bucks: Stale pricing in fixed income funds	27
Can ethics be taught? Evidence from securities exams and investment adviser misconduct	27
Do the right firms survive bankruptcy?	27
The colour of finance words	27
Swap trading after Dodd-Frank: Evidence from index CDS	26
Psychological barrier and cross-firm return predictability	26
The Big Three and board gender diversity: The effectiveness of shareholder voice	26
Why does the Fed move markets so much? A model of monetary policy and time-varying risk aversion	26
Cyber risk and the U.S. financial system: A pre-mortem analysis	26
Network risk and key players: A structural analysis of interbank liquidity	26
Should information be sold separately? Evidence from MiFID II	26
Blockholder voting	26
Who creates new firms when local opportunities arise?	26
Speculative dynamics of prices and volume	26
Liquidity risk and exchange-traded fund returns, variances, and tracking errors	26