Review of Financial Studies

Article	Citations
Bail-Ins, Optimal Regulation, and Crisis Resolution	310
Credit Building or Credit Crumbling? A Credit Builder Loan’s Effects on Consumer Behavior and Market Efficiency in the United States	305
The Real Effects of Secondary Market Trading Structure: Evidence from the Mortgage Market	194
Valuing Financial Data	194
Macroprudential Regulation, Quantitative Easing, and Bank Lending	161
RETRACTED: Mortgage Finance and Climate Change: Securitization Dynamics in the Aftermath of Natural Disasters	139
Duration-Based Valuation of Corporate Bonds	136
How ETFs Amplify the Global Financial Cycle in Emerging Markets	136
Missing Data in Asset Pricing Panels	135
Private Renegotiations and Government Interventions in Credit Chains	129
Human Capital Portability and Careers in Finance	123
Tax Policy and Abnormal Investment Behavior	122
The Coholding Puzzle: New Evidence from Transaction-Level Data	120
Comomentum: Inferring Arbitrage Activity from Return Correlations	102
Digital Payments and Consumption: Evidence from the 2016 Demonetization in India	101
Investor Memory	98
Factor Momentum	96
Tuition, Debt, and Human Capital	94
Bond Price Fragility and the Structure of the Mutual Fund Industry	92
Banking on Carbon: Corporate Lending and Cap-and-Trade Policy	91
Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices	87
The Gender Gap in Household Bargaining Power: A Revealed-Preference Approach	87
Group-Managed Real Options	87
Estimating Discount Functions with Consumption Choices over the Lifecycle	83
Risking or Derisking: How Management Fees Affect Hedge Fund Risk-Taking Choices	82

In Safe Hands: The Financial and Real Impact of Investor Composition over the Credit Cycle	81
The Rise of Star Firms: Intangible Capital and Competition	80
Counterparty Risk: Implications for Network Linkages and Asset Prices	78
Should the Government Be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets?	76
Who Mismanages Student Loans, and Why?	75
Consumption Imputation Errors in Administrative Data	72
The Geography of Value Creation	70
Where Has All the Data Gone?	68
Insurers as Asset Managers and Systemic Risk	67
Nonbank Lending and Credit Cyclicality	62
Distortions and Efficiency in Production Economies with Heterogeneous Beliefs	60
Public Debt, Consumption Growth, and the Slope of the Term Structure	60
Bank Bonus Pay as a Risk Sharing Contract	59
Can Human Capital Explain Income-Based Disparities in Financial Services?	59
Conflicts of Interest in Municipal Bond Advising and Underwriting	58
Holding Period Effects in Dividend Strip Returns	56
Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress	54
Simultaneous Multilateral Search	53
Are Bankruptcy Professional Fees Excessively High?	52
Efficiency of Dynamic Portfolio Choices: An Experiment	50
Firm Networks and Asset Returns	50
Size Discount and Size Penalty: Trading Costs in Bond Markets	50
The Oligopoly Lucas Tree	47
Owner Incentives and Performance in Healthcare: Private Equity Investment in Nursing Homes	47
Ratings-Driven Demand and Systematic Price Fluctuations	46
Horizon Bias and the Term Structure of Equity Returns	46
Is Capital Structure Irrelevant with ESG Investors?	45
Deconstructing the Yield Curve	45
Racial Disparities in the Auto Loan Market	43
Cross-Subsidization of Bad Credit in a Lending Crisis	43
The Life Cycle Effects of Corporate Takeover Defenses	42
Fast and Slow Arbitrage: The Predictive Power of (Persistent) Capital Flows for Factor Returns	42
Equity Return Expectations and Portfolios: Evidence from Large Asset Managers	42
SPACs	40
Technological Progress and Rent Seeking	39
The Cost of Bank Regulatory Capital	39
Financial Disruptions and the Organization of Innovation: Evidence from the Great Depression	39
What Drives Firms’ Hiring Decisions? An Asset Pricing Perspective	39
Macroeconomic Attention and Announcement Risk Premia	38
The Incidence of Student Loan Subsidies: Evidence from the PLUS Program	38
An Intermediation-Based Model of Exchange Rates	38
Institutional Brokerage Networks: Facilitating Liquidity Provision	38
The Party Structure of Mutual Funds	38
Regulatory Intensity and Firm-Specific Exposure	38
Going Underwater? Flood Risk Belief Heterogeneity and Coastal Home Price Dynamics	38
Health Care Costs and Corporate Investment	36
A Fistful of Dollars: Financial Incentives, Peer Information, and Retirement Savings	35
The Fed and the Secular Decline in Interest Rates	35
Credit Cycles, Expectations, and Corporate Investment	34
Do Temporary Demand Shocks Have Long-Term Effects for Startups?	33

Competition for Attention in the ETF Space	33
Monetary Policy Risk: Rules versus Discretion	33
Political Sentiment and Innovation: Evidence from Patenters	33
What Do Mutual Fund Investors Really Care About?	32
Are Analyst “Top Picks” Informative?	32
Trade Credit and the Transmission of Unconventional Monetary Policy	32
International Portfolio Choice with Frictions: Evidence from Mutual Funds	31
A Comprehensive 2022 Look at the Empirical Performance of Equity Premium Prediction	31
Unmasking Mutual Fund Derivative Use	30
What Determines Consumer Financial Distress? Place- and Person-Based Factors	30
Hedging, Contract Enforceability, and Competition	29
Do Corporate Disclosures Constrain Strategic Analyst Behavior?	28
Can Environmental Policy Encourage Technical Change? Emissions Taxes and R&D Investment in Polluting Firms	28
Deposit Insurance and Depositor Behavior: Evidence from Colombia	28
Financial Crises and the Transmission of Monetary Policy to Consumer Credit Markets	28
Neglected Peers in Merger Valuations	27
The Psychological Externalities of Investing: Evidence from Stock Returns and Crime	27
Connected Funds	27
The Value of Differing Points of View: Evidence from Financial Analysts’ Geographic Diversity	26
Syndicated Lending, Competition, and Relative Performance Evaluation	25
Mandatory Financial Disclosure and M&A Activity	25
Income Shifting out of the United States by Foreign Multinational Firms	25
Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment	25
The Effects of Going Public on Firm Profitability and Strategy	25
Digital Tokens and Platform Building	24
Heterogeneous Real Estate Agents and the Housing Cycle	24
Adverse Selection and Climate Risk: A Response to	24
Earnings Extrapolation and Predictable Stock Market Returns	23
Beliefs about the Stock Market and Investment Choices: Evidence from a Survey and a Field Experiment	23
Credit Freezes, Equilibrium Multiplicity, and Optimal Bailouts in Financial Networks	22
Dynamic Equilibrium with Costly Short-Selling and Lending Market	22
Business Restrictions and COVID-19 Fatalities	22
Gold’s Value as an Investment	22
Product Innovation and Credit Market Disruptions	22
Common Venture Capital Investors and Startup Growth	22
Man versus Machine Learning: The Term Structure of Earnings Expectations and Conditional Biases	21
COVID-19 and Its Impact on Financial Markets and the Real Economy	21
The Impact of the Opioid Crisis on Firm Value and Investment	21
Benchmarking Intensity	21
The Effect of Stock Liquidity on the Firm’s Investment and Production	21
Unemployment Insurance as a Subsidy to Risky Firms	20
The Effects of Macroeconomic Shocks: Household Financial Distress Matters	20
Order Flows and Financial Investor Impacts in Commodity Futures Markets	20
The Labor Market Effects of Loan Guarantee Programs	19
Cross-Selling in Bank-Household Relationships: Mechanisms and Implications for Pricing	19
Risk Price Variation: The Missing Half of Empirical Asset Pricing	19
The Savings of Corporate Giants	19
Seller Debt in Acquisitions of Private Firms: A Security Design Approach	19
Conflicting Interests and the Effect of Fiduciary Duty: Evidence from Variable Annuities	19
Correction to: A Dynamic Theory of Lending Standards	18
A Quantitative Model of Dynamic Moral Hazard	18
Competition Links and Stock Returns	18
Intellectual Property Rights and Debt Financing	18
Uncertainty, Contracting, and Beliefs in Organizations	18
Information versus Investment	18
When FinTech Competes for Payment Flows	18
A Dynamic Theory of Lending Standards	18
The Distribution of Nonwage Benefits: Maternity Benefits and Gender Diversity	18
Stock Market Stimulus	17
Remote Board Meetings and Board Monitoring Effectiveness: Evidence from China	17
Competition and Innovation Revisited: A Project-Level View	17
New Perspectives on Insurance	17
Quick or Broad Patents? Evidence from U.S. Startups	17
Field of Study and Financial Problems: How Economics Reduces the Risk of Default	16
Asset Pricing with Fading Memory	16
Monetary Policy, Business Liquidity and Survival: Evidence from the Refinancing Channel	16
Narrative Asset Pricing: Interpretable Systematic Risk Factors from News Text	16
Real Consequences of Shocks to Intermediaries Supplying Corporate Hedging Instruments	16
Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity	16
Banks as Liquidity Multipliers	15
Markets versus Mechanisms	15
Subjective Bond Returns and Belief Aggregation	15
When Do Low-Frequency Measures Really Measure Effective Spreads? Evidence from Equity and Foreign Exchange Markets	15
Can Shorts Predict Returns? A Global Perspective	15
Adjusting to Macroprudential Policies: Loan-to-Value Limits and Housing Choice	15
News Diffusion in Social Networks and Stock Market Reactions	14
Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class	14
Existence of the Wealth-Consumption Ratio in Asset Pricing Models with Recursive Preferences	14
The Effect of Carbon Pricing on Firm Emissions: Evidence from the Swedish CO2 Tax	14
Price elasticity of demand and risk-bearing capacity in sovereign bond auctions	14

Corporate ESG Profiles and Banking Relationships	14
From Market Making to Matchmaking: Does Bank Regulation Harm Market Liquidity?	14
The Financial Consequences of Pretrial Detention	13
Pretending Ignorance Is Bliss: Competing Insurers with Heterogeneous Informational Advantages	13
Can Equity Option Returns Be Explained by a Factor Model? IPCA Says Yes	13
How Do Short-Term Incentives Affect Long-Term Productivity?	13
Option Return Predictability	13
The Relationship Dilemma: Why Do Banks Differ in the Pace at Which They Adopt New Technology?	13
Steering a Ship in Illiquid Waters: Active Management of Passive Funds	13
Does the Federal Reserve Obtain Competitive and Appropriate Prices in Monetary Policy Implementation?	13
Shocked by Bank Funding Shocks: Evidence from Consumer Credit Cards	13
Acquiring Innovation under Information Frictions	13
Dark Pool Trading and Information Acquisition	12
What Private Equity Does Differently: Evidence from Life Insurance	12
Cybersecurity Risk	12
Credit Ratings and Market Information	12
The Effects of Capital Requirements on Good and Bad Risk-Taking	12
Blood Money: Selling Plasma to Avoid High-Interest Loans	11
Capital Investment, Equity Returns, and Aggregate Dynamics in Oligopolistic Production Economies	11
The Hedging Channel of Exchange Rate Determination	11
An Equilibrium Model of Imperfect Hedging: Transaction Costs, Heterogeneity in Risk Aversion, and Return Volatility	11
Firm-Level Exposure to Epidemic Diseases: COVID-19, SARS, and H1N1	11
Why Do Firms Borrow Directly from Nonbanks?	11
Political Determinants of Competition in the Mobile Telecommunication Industry	11
Measuring the Expected Effects of the Global Tax Reform	10
Committee-Based Blockchains as Games between Opportunistic Players and Adversaries	10
The Partisanship of Financial Regulators	10
The Disutility of Stock Market Losses: Evidence From Domestic Violence	10
A Model of Two Days: Discrete News and Asset Prices	10
Capital Spillover, House Prices, and Consumer Spending: Quasi-Experimental Evidence from House Purchase Restrictions	10
Currency Risk Premiums Redux	10
Liquidity Constraints, Consumption, and Debt Repayment: Evidence from Macroprudential Policy in Turkey	9
Proof-of-Work versus Proof-of-Stake: A Comparative Economic Analysis	9
The Dynamics of Disagreement	9
Countercyclical Labor Income Risk and Portfolio Choices over the Life Cycle	9
The Impact of Restricting Labor Mobility on Corporate Investment and Entrepreneurship	9
The Market Risk Premium for Unsecured Consumer Credit Risk	9
Who Holds Sovereign Debt and Why It Matters	9
The Overnight Drift	9
The Gender Investment Gap over the Life Cycle	9
Director Appointments: It Is Who You Know	9