发布求助
文献互助 智能选刊 最新文献

The Review of Financial Studies最新文献

筛选
英文 中文
Correction to: A Dynamic Theory of Lending Standards 更正：贷款标准的动态理论
The Review of Financial Studies Pub Date : 2024-06-02 DOI: 10.1093/rfs/hhae022
{"title":"Correction to: A Dynamic Theory of Lending Standards","authors":"","doi":"10.1093/rfs/hhae022","DOIUrl":"https://doi.org/10.1093/rfs/hhae022","url":null,"abstract":"","PeriodicalId":515836,"journal":{"name":"The Review of Financial Studies","volume":"52 12","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-06-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141273867","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
News and Asset Pricing: A High-Frequency Anatomy of the SDF 新闻与资产定价：SDF 的高频剖析
The Review of Financial Studies Pub Date : 2024-05-16 DOI: 10.1093/rfs/hhae019
Saketh Aleti, T. Bollerslev
{"title":"News and Asset Pricing: A High-Frequency Anatomy of the SDF","authors":"Saketh Aleti, T. Bollerslev","doi":"10.1093/rfs/hhae019","DOIUrl":"https://doi.org/10.1093/rfs/hhae019","url":null,"abstract":"\u0000 Utilizing real-time newswire data, together with a robustly estimated intraday stochastic discount factor (SDF), we identify and quantify the economic news that is priced. News related to monetary policy and finance on average accounts for most of the variation in the SDF, followed by news about international affairs and macroeconomic data. We also document nontrivial temporal variation in the relative importance of the news, along with marked differences in the estimated news risk premiums in the “factor zoo.” To further highlight the economic mechanisms at work, we associate the different news effects with interest rate, growth, and risk premium shocks. (JEL C58, G12, G14)","PeriodicalId":515836,"journal":{"name":"The Review of Financial Studies","volume":"79 6","pages":""},"PeriodicalIF":0.0,"publicationDate":"2024-05-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140967962","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Destructive Creation at Work: How Financial Distress Spurs Entrepreneurship. 工作中的破坏性创造:财政危机如何刺激创业。
IF 8.2
The Review of Financial Studies Pub Date : 2020-09-01 Epub Date: 2019-11-01 DOI: 10.1093/rfs/hhz110
Tania Babina
{"title":"Destructive Creation at Work: How Financial Distress Spurs Entrepreneurship.","authors":"Tania Babina","doi":"10.1093/rfs/hhz110","DOIUrl":"https://doi.org/10.1093/rfs/hhz110","url":null,"abstract":"<p><p>Using U.S. Census firm-worker data, I document that firms' financial distress has an economically important effect on employee departures to entrepreneurship. The impact is amplified in the high-tech and service sectors, where employees are key assets. In states with enforceable noncompete contracts, the effect is mitigated. Compared to typical entrepreneurs, distress-driven entrepreneurs are high-wage workers who found better firms, as measured by jobs, pay, and survival. Startup jobs compensate for 33% of job losses at the constrained incumbents. Overall, the financial inability of incumbent firms to pursue productive opportunities increases the reallocation of economic activity into new firms. Authors have furnished an Internet Appendix, which is available on the Oxford University Press Web site next to the link to the final published paper online.</p>","PeriodicalId":515836,"journal":{"name":"The Review of Financial Studies","volume":"33 9","pages":"4061-4101"},"PeriodicalIF":8.2,"publicationDate":"2020-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/rfs/hhz110","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"38325062","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does Aggregated Returns Disclosure Increase Portfolio Risk Taking? 汇总收益披露是否增加了投资组合的风险承担?
IF 8.2
The Review of Financial Studies Pub Date : 2017-06-01 Epub Date: 2016-10-19 DOI: 10.1093/rfs/hhw086
John Beshears, James J Choi, David Laibson, Brigitte C Madrian
{"title":"Does Aggregated Returns Disclosure Increase Portfolio Risk Taking?","authors":"John Beshears,&nbsp;James J Choi,&nbsp;David Laibson,&nbsp;Brigitte C Madrian","doi":"10.1093/rfs/hhw086","DOIUrl":"https://doi.org/10.1093/rfs/hhw086","url":null,"abstract":"<p><p>Many experiments have found that participants take more investment risk if they see returns less frequently, see portfolio-level returns (rather than each individual asset's returns), or see long-horizon (rather than one-year) historical return distributions. In contrast, we find that such information aggregation treatments do not affect total equity investment when we make the investment environment more realistic than in prior experiments. Previously documented aggregation effects are not robust to changes in the risky asset's return distribution or the introduction of a multi-day delay between portfolio choice and return realizations.</p>","PeriodicalId":515836,"journal":{"name":"The Review of Financial Studies","volume":"30 6","pages":"1971-2005"},"PeriodicalIF":8.2,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/rfs/hhw086","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"35035399","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 53
How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios. 家庭地位和社会保障索赔选择如何塑造最佳生命周期投资组合。
IF 8.2
The Review of Financial Studies Pub Date : 2016-04-01 Epub Date: 2015-11-19 DOI: 10.1093/rfs/hhv070
Andreas Hubener, Raimond Maurer, Olivia S Mitchell
{"title":"How Family Status and Social Security Claiming Options Shape Optimal Life Cycle Portfolios.","authors":"Andreas Hubener,&nbsp;Raimond Maurer,&nbsp;Olivia S Mitchell","doi":"10.1093/rfs/hhv070","DOIUrl":"https://doi.org/10.1093/rfs/hhv070","url":null,"abstract":"<p><p>We show how optimal household decisions regarding work, retirement, saving, portfolio allocations, and life insurance are shaped by the complex financial options embedded in U.S. Social Security rules and uncertain family transitions. Our life cycle model predicts sharp consumption drops on retirement, an age-62 peak in claiming rates, and earlier claiming by wives versus husbands and single women. Moreover, life insurance is mainly purchased on men's lives. Our model, which takes Social Security rules seriously, generates wealth and retirement outcomes that are more consistent with the data, in contrast to earlier and less realistic models.</p>","PeriodicalId":515836,"journal":{"name":"The Review of Financial Studies","volume":"29 4","pages":"937-978"},"PeriodicalIF":8.2,"publicationDate":"2016-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1093/rfs/hhv070","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"35127258","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
0
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整，为了账户安全，请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
请完成安全验证×
相关产品
×
本文献相关产品
联系我们：info@booksci.cn Book学术提供免费学术资源搜索服务，方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号：481959085
Book学术官方微信