Review of Financial Studies

Article	Citations
Macroprudential Regulation, Quantitative Easing, and Bank Lending	367
Credit Building or Credit Crumbling? A Credit Builder Loan’s Effects on Consumer Behavior and Market Efficiency in the United States	359
The Real Effects of Secondary Market Trading Structure: Evidence from the Mortgage Market	212
How ETFs Amplify the Global Financial Cycle in Emerging Markets	189
Missing Data in Asset Pricing Panels	188
Duration-Based Valuation of Corporate Bonds	167
Bail-Ins, Optimal Regulation, and Crisis Resolution	144
RETRACTED: Mortgage Finance and Climate Change: Securitization Dynamics in the Aftermath of Natural Disasters	139
Valuing Financial Data	122
Human Capital Portability and Careers in Finance	121
Tax Policy and Abnormal Investment Behavior	111
Bond Price Fragility and the Structure of the Mutual Fund Industry	108
Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices	106
Tuition, Debt, and Human Capital	105
The Coholding Puzzle: New Evidence from Transaction-Level Data	103
Investor Memory	99
Comomentum: Inferring Arbitrage Activity from Return Correlations	98
Private Renegotiations and Government Interventions in Credit Chains	94
Factor Momentum	94
Digital Payments and Consumption: Evidence from the 2016 Demonetization in India	93
Banking on Carbon: Corporate Lending and Cap-and-Trade Policy	91
Group-Managed Real Options	84
Risking or Derisking: How Management Fees Affect Hedge Fund Risk-Taking Choices	83
Public Debt, Consumption Growth, and the Slope of the Term Structure	82
Should the Government Be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets?	78

The Gender Gap in Household Bargaining Power: A Revealed-Preference Approach	74
Estimating Discount Functions with Consumption Choices over the Lifecycle	70
In Safe Hands: The Financial and Real Impact of Investor Composition over the Credit Cycle	67
Nonbank Lending and Credit Cyclicality	67
The Rise of Star Firms: Intangible Capital and Competition	65
Counterparty Risk: Implications for Network Linkages and Asset Prices	62
The Geography of Value Creation	62
Where Has All the Data Gone?	62
Who Mismanages Student Loans, and Why?	56
Insurers as Asset Managers and Systemic Risk	56
Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress	55
Are Bankruptcy Professional Fees Excessively High?	55
Deconstructing the Yield Curve	54
Simultaneous Multilateral Search	54
Firm Networks and Asset Returns	51
Bank Bonus Pay as a Risk Sharing Contract	49
Failure to Share Natural Disaster Risk	48
Conflicts of Interest in Municipal Bond Advising and Underwriting	48
Can Human Capital Explain Income-Based Disparities in Financial Services?	48
Ratings-Driven Demand and Systematic Price Fluctuations	46
Horizon Bias and the Term Structure of Equity Returns	46
Size Discount and Size Penalty: Trading Costs in Bond Markets	46
The Oligopoly Lucas Tree	45
Owner Incentives and Performance in Healthcare: Private Equity Investment in Nursing Homes	44
The Cost of Bank Regulatory Capital	44
Holding Period Effects in Dividend Strip Returns	44
Fast and Slow Arbitrage: The Predictive Power of (Persistent) Capital Flows for Factor Returns	44
SPACs	42
Cross-Subsidization of Bad Credit in a Lending Crisis	41
The Life Cycle Effects of Corporate Takeover Defenses	41
Equity Return Expectations and Portfolios: Evidence from Large Asset Managers	40
Is Capital Structure Irrelevant with ESG Investors?	39
Racial Disparities in the Auto Loan Market	39
Financial Disruptions and the Organization of Innovation: Evidence from the Great Depression	39
Technological Progress and Rent Seeking	37
An Intermediation-Based Model of Exchange Rates	36
What Drives Firms’ Hiring Decisions? An Asset Pricing Perspective	35
Institutional Brokerage Networks: Facilitating Liquidity Provision	34
The Financial Channel of the Exchange Rate and Global Trade	34
Going Underwater? Flood Risk Belief Heterogeneity and Coastal Home Price Dynamics	33
Regulatory Intensity and Firm-Specific Exposure	33
The Incidence of Student Loan Subsidies: Evidence from the PLUS Program	33
Macroeconomic Attention and Announcement Risk Premia	33
Health Care Costs and Corporate Investment	32
The Fed and the Secular Decline in Interest Rates	31
Credit Cycles, Expectations, and Corporate Investment	31
Identifying Price Informativeness	30
Political Sentiment and Innovation: Evidence from Patenters	30
Competition for Attention in the ETF Space	30
Trade Credit and the Transmission of Unconventional Monetary Policy	28

Do Temporary Demand Shocks Have Long-Term Effects for Startups?	27
Unmasking Mutual Fund Derivative Use	27
Hedging, Contract Enforceability, and Competition	26
Do Corporate Disclosures Constrain Strategic Analyst Behavior?	26
Financial Crises and the Transmission of Monetary Policy to Consumer Credit Markets	26
Are Analyst “Top Picks” Informative?	26
Deposit Insurance and Depositor Behavior: Evidence from Colombia	26
Dynamic Coordination and Bankruptcy Regulations	26
What Determines Consumer Financial Distress? Place- and Person-Based Factors	25
International Portfolio Choice with Frictions: Evidence from Mutual Funds	25
Connected Funds	24
Can Environmental Policy Encourage Technical Change? Emissions Taxes and R&D Investment in Polluting Firms	24
Income Shifting out of the United States by Foreign Multinational Firms	24
A Comprehensive 2022 Look at the Empirical Performance of Equity Premium Prediction	24
Adverse Selection and Climate Risk: A Response to	23
The Effects of Going Public on Firm Profitability and Strategy	23
Mandatory Financial Disclosure and M&A Activity	23
Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment	23
Syndicated Lending, Competition, and Relative Performance Evaluation	23
Neglected Peers in Merger Valuations	23
Π-CAPM: The Classical CAPM with Probability Weighting and Skewed Assets	23
Heterogeneous Real Estate Agents and the Housing Cycle	23
The Psychological Externalities of Investing: Evidence from Stock Returns and Crime	23
Earnings Extrapolation and Predictable Stock Market Returns	22
Beliefs about the Stock Market and Investment Choices: Evidence from a Survey and a Field Experiment	22
The Value of Differing Points of View: Evidence from Financial Analysts’ Geographic Diversity	22
Product Innovation and Credit Market Disruptions	22
How Does Removing the Tax Benefits of Debt Affect Firms? Evidence from the 2017 U.S. Tax Reform	22
Gold’s Value as an Investment	22
Digital Tokens and Platform Building	21
Credit Freezes, Equilibrium Multiplicity, and Optimal Bailouts in Financial Networks	21
The Effect of Stock Liquidity on the Firm’s Investment and Production	21
Dynamic Equilibrium with Costly Short-Selling and Lending Market	21
The Impact of the Opioid Crisis on Firm Value and Investment	20
Common Venture Capital Investors and Startup Growth	20
Conflicting Interests and the Effect of Fiduciary Duty: Evidence from Variable Annuities	19
Seller Debt in Acquisitions of Private Firms: A Security Design Approach	19
Intellectual Property Rights and Debt Financing	19
Benchmarking Intensity	19
The Savings of Corporate Giants	19
Man versus Machine Learning: The Term Structure of Earnings Expectations and Conditional Biases	19
Finance, Advertising, and Race	18
The Labor Market Effects of Loan Guarantee Programs	18
Order Flows and Financial Investor Impacts in Commodity Futures Markets	18
The Effects of Macroeconomic Shocks: Household Financial Distress Matters	18
Cross-Selling in Bank-Household Relationships: Mechanisms and Implications for Pricing	18
Option Pricing with Time-Varying Volatility Risk Aversion	17
Unemployment Insurance as a Subsidy to Risky Firms	17
When FinTech Competes for Payment Flows	17
Risk Price Variation: The Missing Half of Empirical Asset Pricing	16
A Dynamic Theory of Lending Standards	16
The Distribution of Nonwage Benefits: Maternity Benefits and Gender Diversity	16
Correction to: A Dynamic Theory of Lending Standards	16
Competition Links and Stock Returns	16
Uncertainty, Contracting, and Beliefs in Organizations	16
Information versus Investment	16
Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity	15
Remote Board Meetings and Board Monitoring Effectiveness: Evidence from China	15
Liquidity Provision on Blockchain-Based Decentralized Exchanges	15
New Perspectives on Insurance	15
A Quantitative Model of Dynamic Moral Hazard	15
Real Consequences of Shocks to Intermediaries Supplying Corporate Hedging Instruments	15
Monetary Policy, Business Liquidity and Survival: Evidence from the Refinancing Channel	15
Competition and Innovation Revisited: A Project-Level View	14
Markets versus Mechanisms	14
Stock Market Stimulus	14
Narrative Asset Pricing: Interpretable Systematic Risk Factors from News Text	14
Field of Study and Financial Problems: How Economics Reduces the Risk of Default	14
Banks as Liquidity Multipliers	14
News Diffusion in Social Networks and Stock Market Reactions	13
Adjusting to Macroprudential Policies: Loan-to-Value Limits and Housing Choice	13
Subjective Bond Returns and Belief Aggregation	13
When Do Low-Frequency Measures Really Measure Effective Spreads? Evidence from Equity and Foreign Exchange Markets	13
The Effect of Carbon Pricing on Firm Emissions: Evidence from the Swedish CO2 Tax	13
Regulatory Forbearance in the U.S. Insurance Industry: The Effects of Removing Capital Requirements for an Asset Class	13
Existence of the Wealth-Consumption Ratio in Asset Pricing Models with Recursive Preferences	12
Steering a Ship in Illiquid Waters: Active Management of Passive Funds	12
The Elasticity of Quantitative Investment	12
From Market Making to Matchmaking: Does Bank Regulation Harm Market Liquidity?	12
Leaky Director Networks and Innovation Herding	12

Corporate ESG Profiles and Banking Relationships	12
Price elasticity of demand and risk-bearing capacity in sovereign bond auctions	12
The Relationship Dilemma: Why Do Banks Differ in the Pace at Which They Adopt New Technology?	12
The Effects of Capital Requirements on Good and Bad Risk-Taking	11
Does the Federal Reserve Obtain Competitive and Appropriate Prices in Monetary Policy Implementation?	11
Shocked by Bank Funding Shocks: Evidence from Consumer Credit Cards	11
The Financial Consequences of Pretrial Detention	11
Pretending Ignorance Is Bliss: Competing Insurers with Heterogeneous Informational Advantages	11
Capital Investment, Equity Returns, and Aggregate Dynamics in Oligopolistic Production Economies	11
Why Do Firms Borrow Directly from Nonbanks?	11
An Equilibrium Model of Imperfect Hedging: Transaction Costs, Heterogeneity in Risk Aversion, and Return Volatility	11
Credit Ratings and Market Information	11
Blood Money: Selling Plasma to Avoid High-Interest Loans	10
Cybersecurity Risk	10
Acquiring Innovation under Information Frictions	10
How Do Short-Term Incentives Affect Long-Term Productivity?	10
Relative Performance Evaluation and Strategic Competition	10
Can Equity Option Returns Be Explained by a Factor Model? IPCA Says Yes	10
The Overnight Drift	10
Firm-Level Exposure to Epidemic Diseases: COVID-19, SARS, and H1N1	10
What Private Equity Does Differently: Evidence from Life Insurance	10
The Disutility of Stock Market Losses: Evidence From Domestic Violence	9
Measuring the Expected Effects of the Global Tax Reform	9
The Partisanship of Financial Regulators	9
How Has COVID-19 Impacted Research Production in Economics and Finance?	9
Committee-Based Blockchains as Games between Opportunistic Players and Adversaries	9
The Hedging Channel of Exchange Rate Determination	9
Who Holds Sovereign Debt and Why It Matters	9
Currency Risk Premiums Redux	9
The Gender Investment Gap over the Life Cycle	9
Reference Points Spillovers: Micro-Level Evidence from Real Estate	8
The Market Risk Premium for Unsecured Consumer Credit Risk	8
Countercyclical Labor Income Risk and Portfolio Choices over the Life Cycle	8
Proof-of-Work versus Proof-of-Stake: A Comparative Economic Analysis	8
Liquidity Constraints, Consumption, and Debt Repayment: Evidence from Macroprudential Policy in Turkey	8
Socially Responsible Finance: How to Optimize Impact	8
Student Loans, Access to Credit, and Consumer Credit Demand	8
Shared Destinies? Small Banks and Small Businesses	8
The Dynamics of Disagreement	8
The Impact of Restricting Labor Mobility on Corporate Investment and Entrepreneurship	8
Short-Term Debt and Corporate Governance	8