OOIR: Observatory of International Research

Papers

(The median citation count of Review of Finance is 5. The table below lists those papers that are above that threshold based on CrossRef citation counts [max. 250 papers]. The publications cover those that have been published in the past four years, i.e., from 2021-06-01 to 2025-06-01.)

Article	Citations
Optimal Capital Structure and Risk Management Policies of Banks That Use CoCo Futures to Hedge Financial-Sector Risk	1307
Sources of Value Creation in Private Equity Buyouts of Private Firms	158
Building trust takes time: limits to arbitrage for blockchain-based assets	126
Director Expertise and Corporate Sustainability	125
Mortgage Debt, Hand-to-Mouth Households, and Monetary Policy Transmission	123
Climate Change Risk and the Cost of Mortgage Credit	121
Do Banks Worry about Attentive Depositors? Evidence from Multiple-Brand Banks	107
Forward Guidance and Corporate Lending	99
Impact of Corporate Subsidies on Borrowing Costs of Local Governments: Evidence from Municipal Bonds	90
How Important is Affiliation Between Mutual Funds and Distributors for Fund Flows?	87
Supervisory cooperation and regulatory arbitrage	80
Tick Size Wars: The Market Quality Effects of Pricing Grid Competition	78
Asymmetric Information and Corporate Lending: Evidence from SME Bond Markets	69
Experience Effects in Finance: Foundations, Applications, and Future Directions	68
Property rights, political connections, and corporate investment	68
Comparing Past and Present Inflation	66
Debt Renegotiations Outside Distress	66
Contracting when enforcement is weak: evidence from an audit study	62
Securities financing and asset markets: new evidence	57
Trust and delegated investing: a Money Doctors experiment	56
Move a little closer? Information sharing and the spatial clustering of bank branches	50
Are Carbon Emissions Associated with Stock Returns? Comment	48
The Costs and Benefits of Liquidity Regulations: Lessons from an Idle Monetary Policy Tool	44
Bear Beta or Speculative Beta?—Reconciling the Evidence on Downside Risk Premium	43
Political Beta	42

Not in my backyard: intrinsic motivation and corporate pollution abatement	37
The term structure of equity yields—a bottom-up approach	37
Liquidity and the strategic value of information	37
Debt and taxes: the role of corporate group structure	36
Decomposing Long Bond Returns: A Decentralized Theory	35
Fresh air eases work—the effect of air quality on individual investor activity	32
Disaster Relief, Inc.: when is corporate philanthropy good or bad for shareholders?	30
The Risk of Implicit Guarantees: Evidence from Shadow Banks in China	29
Regulatory Sandboxes and Fintech Funding: Evidence from the UK	28
ESG shareholder engagement and downside risk	28
Uniform Mortgage Regulation and Distortion in Capital Allocation	26
Correction to: Finance Leases: In the Shadow of Banks	25
Hedge funds and the positive idiosyncratic volatility effect	23
Revisiting board independence mandates: Evidence from director reclassifications	20
Momentum, Reversals, and Investor Clientele	20
Do Place-Based Policies Promote Local Innovation and Entrepreneurship?*	19
Do investors care about biodiversity?	19
A good sketch is better than a long speech: evaluate delinquency risk through real-time video analysis	19
How Do Options Add Value? Evidence from the Convertible Bond Market	18
Understanding households’ bank bond holdings	18
Low Carbon Mutual Funds	18
Extrapolative income expectations and retirement savings	17
Circuit breakers and market runs	17
Private Company Valuations by Mutual Funds	17
The Term Structure of Short Selling Costs	17
Macroeconomic News and Stock–Bond Comovement	16
Introduction: Special Issue on China I	16
Special Repo Rates and the Cross-Section of Bond Prices: The Role of the Special Collateral Risk Premium	15
On the valuation skills of corporate bond mutual funds	14
The Variance Risk Premium in Equilibrium Models	14
Cross-sectional expected returns: new Fama–MacBeth regressions in the era of machine learning	14
Stock repurchasing bias of mutual funds	14
The green sin: how exchange rate volatility and financial openness affect green premia	13
Large orders in small markets: execution with endogenous liquidity supply	13
Financial Intermediation, Capital Accumulation, and Crisis Recovery	13
When passive funds affect prices: evidence from volatility and commodity ETFs	12
Pricing protest: the response of financial markets to social unrest	12
Determinants of Short-Term Corporate Yield Spreads: Evidence from the Commercial Paper Market	12
Passive ownership and short selling	12
Common ownership and creative destruction: evidence from US consumers	11
Market accessibility, bond ETFs, and liquidity	11
Capital Gains Tax, Venture Capital, and Innovation in Start-Ups	11
A New Wolf in Town? Pump-and-Dump Manipulation in Cryptocurrency Markets	11
Do sell-side analysts say “buy” while whispering “sell”?	10
Optimal Capital Structure with Stock Market Feedback	10
Asset Prices and Portfolios with Externalities	10
Social Networks and Hedge Fund Activism	10
Passive-Aggressive Trading: The Supply and Demand of Liquidity by Mutual Funds	10
Expanding Footprints: The Impact of Passenger Transportation on Corporate Locations	10
Corporate governance, meritocracy, and careers	9

Correction to: Margin constraints and asset prices	9
Firm financing through insider stock pledges	9
Does express delivery run ahead of stock price?	9
Search-Based Peer Groups and Commonality in Liquidity	9
Cross-Border Bank Flows and Systemic Risk	9
Humans in charge of trading robots: the first experiment	9
Data versus Collateral	8
Responsible Hedge Funds	8
Social Media and Financial News Manipulation	8
Mobile Apps and Financial Decision Making	8
Capital Regulations and the Management of Credit Commitments during Crisis Times	8
Do Anomalies Really Predict Market Returns? New Data and New Evidence	8
Valuing Data as an Asset	7
Bank regulation, investment, and capital requirements under adverse selection	7
The Coming Rise in Residential Inflation	7
Yield curve momentum	7
Do salient climatic risks affect shareholder voting?	7
Cash is king? Understanding financing risk in housing markets	7
The Term Structure of Equity Risk Premia: Levered Noise and New Estimates	7
Is one share/one vote optimal?	7
Are Carbon Emissions Associated with Stock Returns?—Reply	6
Dual Ownership and Risk-Taking Incentives in Managerial Compensation	6
Mutual funds’ strategic voting on environmental and social issues	6
Does the level of cash always increase with firm size? Theory and evidence from small firms	6
On the Economic Significance of Stock Return Predictability	6
The TIPS Liquidity Premium	6
Dissemination, Publication, and Impact of Finance Research: When Novelty Meets Conventionality	5
Does Socially Responsible Investing Change Firm Behavior?	5
Moneyness, Underlying Asset Volatility, and the Cross-Section of Option Returns	5
Language and Domain Specificity: A Chinese Financial Sentiment Dictionary	5
Economic Policy Uncertainty and the Yield Curve	5
The start matters: time-varying investor demand, hedge fund inceptions, and performance	5
Does Money Talk? Divestitures and Corporate Environmental and Social Policies	5
Credit ratings: strategic issuer disclosure and optimal screening	5
A Sustainable Capital Asset Pricing Model (S-CAPM): Evidence from Environmental Integration and Sin Stock Exclusion	5
Escaping Air Pollution: Immigrants, Students, and Spillover Effects on Property Prices Abroad	5
Sustainable Finance	5