Critical Finance Review
Editor-in-chief
Ivo Welch
University of California, Los Angeles
Print ISSN: 2164-5744
Online ISSN: 2164-5760
Publisher
Zac Rolnik
Indexed in: Cabell's International, Google Scholar, Electronic Journals Library, RePEc/IDEAS, SCOPUS
Please also see the Editor's website for more information.
About this journal
2023 Journal Impact Factor (Clarivate)
1.6
2023 Journal Citation Indicator (Clarivate)
0.55
Volume 14, Issue 2
Christoph Schneider | Oliver Spalt
Bidder and Target Size Effects in M&A Are Not Driven by Overconfidence or Agency Problems
Volume 14, Issue 2
Anne-Marie Anderson | Benjamin Jansen
Law of One Price Violation in Parent-Subsidiary Relations
Volume 14, Issue 2
Nader Atawnah | Ghasan A. Baghdadi | Huu Nhan Duong | Edward J. Podolski
The Bright Side of Foreign Competition: Import Penetration and Default Risk
Volume 14, Issue 2
Runs to Banks: The Role of Sweep Banking Deposits During Market Downturns
Open Access
James R. Barth | Mark Mitchell | Yanfei Sun
Volume 14, Issue 1
Heber Farnsworth
Mutual Fund Flows and Performance in Rational Markets (Revisited)
Volume 14, Issue 1
Paul Calluzzo | Fabio Moneta | Selim Topaloglu
Complex Instruments Have Increased Risk and Reduced Performance at Mutual Funds
Volume 14, Issue 1
Barbara A. Bliss | Mitch Warachka | Marc Weidenmier
How the Stock Ticker Decreased Price Efficiency in the Early 20th Century
Volume 14, Issue 1
Peixin Li | Baolian Wang
The Ungeheuer and Weber (2021) Comove and Stock Returns Effect Disappears with Control for Idiosyncratic Volatility
Volume 14, Issue 1
Robust Inference for Consumption-Based Asset Pricing with Power
Open Access
Tim A. Kroencke
Volume 13, Issue 3-4
Eric de Bodt | Jean-Gabriel Cousin | Micah S. Officer
The Relation Between Equity Misvaluation and Stock Payment in Mergers is Spurious
Volume 13, Issue 3-4
Joseph T. Halford | John J. McConnell | Valeriy Sibilkov | Nataliya Zaiats
Existing Methods Provide Unreliable Estimates of the Marginal Value of Cash
Volume 13, Issue 3-4
Heitor Almeida | Murillo Campello | Michael S. Weisbach
The Cash Flow Sensitivity of Cash: Replication, Extension, and Robustness
Volume 13, Issue 3-4
Alice Bonaimé | Kathleen Kahle | David Moore | Alok Nemani
Employee Compensation Still Impacts Payout Policy
Volume 13, Issue 3-4
Nilanjan Basu | Imants Paeglis | Melissa Toffanin
Insider Ownership and Firm Value: One Shape Does Not Fit All
Volume 13, Issue 3-4
Anthony Zdrojewski | Alexander W. Butler
Are Two-Way Fixed-Effect Difference-In-Differences Estimates Blowing Smoke? A Cautionary Tale from State-Level Bank Branching Deregulation
Volume 13, Issue 3-4
Kuan-Cheng Ko | Nien-Tzu Yang
The Pre-Holiday Premium of Ariel (1990) Has Largely Become A Small-Firm Effect Out of Sample
Volume 13, Issue 1-2
John E. Hund | Donald Monk | Sheri Tice
The Berger–Ofek Diversification Discount Is Just Poor Firm Matching
Volume 13, Issue 1-2
Yongjin Kim | Bryan R. Routledge
Does Macro-Asset Pricing Matter for Corporate Finance?
Volume 13, Issue 1-2
Wei Wei | Alex Young
Selection Bias or Treatment Effect? A Re-Examination of Russell 1000/2000 Index Reconstitution
Volume 13, Issue 1-2
Simon Glossner
Russell Index Reconstitutions, Institutional Investors, and Corporate Social Responsibility
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Juhani T. Linnainmaa
Introduction
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Andrew Detzel | Jefferson Duarte | Avraham Kamara | Stephan Siegel | Celine Sun
The Cross-Section of Volatility and Expected Returns: Then and Now
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Seongkyu Gilbert Park | K. C. John Wei | Linti Zhang
The Fu (2009) Positive Relation Between Idiosyncratic Volatility and Expected Returns is Due to Look-Ahead Bias
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Mardy Chiah | Philip Gharghori | Angel Zhong
Has Idiosyncratic Volatility Increased? Not in Recent Times
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Markus Leippold | Michal Svatoň
Trend and Reversal of Idiosyncratic Volatility Revisited
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
John Y. Campbell | Martin Lettau | Burton Malkiel | Yexiao Xu
Idiosyncratic Equity Risk Two Decades Later
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Russell P. Robins | Geoffrey Peter Smith
A New Look at Expected Stock Returns and Volatility
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Haimanot Kassa | Feifei Wang | Yan Xuemin (Sterling)
Expected Stock Market Returns and Volatility: Three Decades Later
Volume 12, Issue 1-4 Special Issue on Volatility and Higher Moments
Dan Gabriel Anghel | Petre Caraiani | Alina Roşu | Ioanid Roşu
Asset Pricing with Systematic Skewness: Two Decades Later
Volume 11, Issue 3-4
Even-Tov Omri | N. Patatoukas Panos | S. Yoon Young
The Jobs Act Did Not Raise IPO Underpricing
Volume 11, Issue 3-4
Yu-An Chen | Dan Palmon
Analyst Recommendations Respond More Symmetrically to Major News After Regulation FD and the Global Settlement: A Replication and Extension of Conrad, Cornell, Landsman, and Rountree (2006)
Volume 11, Issue 3-4
John Adams | Darren Hayunga | Sattar Mansi
Scale and Performance in Active Management are Not Negatively Related
Volume 11, Issue 3-4
Luboš Pástor | Robert F. Stambaugh | Lucian A. Taylor | Min Zhu
Diseconomies of Scale in Active Management: Robust Evidence
Volume 11, Issue 3-4
Jake Gorman | Farida Akhtar | Robert B. Durand | John Gould
It Could Be Overreaction, Not Lottery Seeking, That Is Behind Bali, Cakici and Whitelaw’s Max Effect
Volume 11, Issue 3-4
Minxia Chen | Joseph Cherian | Ziyun Li | Yuping Shao | Marti G. Subrahmanyam
Clientele Effect in Sovereign Bonds: Evidence From Islamic Sukuk Bonds in Malaysia
Volume 11, Issue 2
Hyuna Park
An Intangible-Adjusted Book-to-Market Ratio Still Predicts Stock Returns
Volume 11, Issue 2
Thiago de Oliveira Souza
Dissecting Market Expectations in the Cross-Section of Book-to-Market Ratios
Volume 11, Issue 2
Bryan Kelly | Seth Pruitt
Dissecting Market Expectations in the Cross-Section of Book-to-Market Ratios: A Comment
Volume 11, Issue 2
Paul Borochin | Yanhui Zhao
Risk Neutral Skewness Predicts Price Rebounds and So Can Improve Momentum Performance
Volume 11, Issue 1
Gunter Löffler
Equity Premium Forecasts Tend to Perform Worse Against a Buy-and-Hold Benchmark
Volume 11, Issue 1
Timothy C. Johnson
Economic Uncertainty, Aggregate Debt, and the Real Effects of Corporate Finance
Volume 11, Issue 1
James W. Kolari | Seppo Pynnonen | Ahmet M. Tuncez
On Long-Run Stock Returns After Corporate Events
Volume 11, Issue 1
Hendrik Bessembinder | Feng Zhang
Long Run Stock Returns after Corporate Events Revisited
Volume 10, Issue 3
Andrew Y. Chen | Fabian Winkler | Rebecca Wasyk
In Full-Information Estimates, Long-Run Risks Explain at Most a Quarter of P/D Variance, and Habit Explains Even Less
Volume 10, Issue 3
Samuel Kruger
High Aversion to Stochastic Time Preference Shocks and Counterfactual Long-Run Risk in the Albuquerque et al., Valuation Risk Model
Volume 10, Issue 3
Dan Gabriel Anghel | Petre Caraiani
Stock Prices Still Move Too Much For Dividends But Less So: A Reappraisal of Shiller 1981
Volume 10, Issue 3
Chaehyun Pyun
Documenting the Post-2000 Decline in the Idiosyncratic Volatility Effect
Volume 10, Issue 3
Philip Gray | Thanh Huynh
Treasury Rates No Longer Predict Returns: A Reappraisal of Breen, Glosten and Jagannathan (1989)
Volume 10, Issue 3
Erik Hjalmarsson | Tamás Kiss
Dividend Growth Does Not Help Predict Returns Compared To Likelihood-Based Tests: An Anatomy of the Dog
Volume 10, Issue 3
John H. Cochrane
The Dog and the Straw Man: Response to “Dividend Growth Does Not Help Predict Returns Compared to Likelihood-Based Tests: An Anatomy of the Dog”
Volume 10, Issue 2
Grace Xing Hu | Jun Pan | Jiang Wang
Chinese Capital Market: An Empirical Overview
Volume 10, Issue 2
Timothy B. Riley
Can Mutual Fund Stars Still Pick Stocks?: A Replication and Extension of Kosowski, Timmermann, Wermers, and White (2006)
Volume 10, Issue 2
James J. Choi | Kevin Zhao
Carhart (1997) Mutual Fund Performance Persistence Disappears Out of Sample
Volume 10, Issue 2
Juha Joenväärä | Mikko Kauppila | Robert Kosowski | Pekka Tolonen
Hedge Fund Performance: Are Stylized Facts Sensitive to Which Database One Uses?
Volume 10, Issue 1
Martin Wallmeier
Mispricing of Index Options with Respect to Stochastic Dominance Bounds?
Volume 10, Issue 1
George M. Constantinides | Michal Czerwonko | Jens Carsten Jackwerth | Stylianos Perrakis
Mispricing of Index Options with Respect to Stochastic Dominance Bounds? A Reply
Volume 9, Issue 1-2
Matthias Fleckenstein | Francis A. Longstaff | Ilya A. Strebulaev
Corporate Taxes and Capital Structure: A Long-Term Historical Perspective
Volume 9, Issue 1-2
Patrick Augustin | Menachem Brenner | Jianfeng Hu | Marti G. Subrahmanyam
Are Corporate Spin-offs Prone to Insider Trading?
Volume 9, Issue 1-2
Lilia Mukhlynina | Kjell G. Nyborg
The Choice of Valuation Techniques in Practice: Education Versus Profession
Volume 9, Issue 1-2
Samangi Bandaranayake | Kuntal K. Das | W. Robert Reed
Are Competitive Banking Systems Really More Stable?
Volume 9, Issue 1-2
Alexander A. Vadilyev
Firms from Financially Developed Economies Do Not Save Less
Volume 8, Issue 1-2
Editorial article
Campbell R. Harvey
Editorial: Replication in Financial Economics
Volume 8, Issue 1-2
Editorial article
Matthew Spiegel
Editorial: Replication? Do You Even Have Access to the Data?
Volume 8, Issue 1-2
Editorial article
Avanidhar Subrahmanyam
Editorial: Realistic Academic Standards and the Value of Replications
Volume 8, Issue 1-2
Craig W. Holden | Jayoung Nam
Do the LCAPM Predictions Hold? Replication and Extension Evidence
Volume 8, Issue 1-2
Eiichiro Kazumori | Fei Fang | Raj Sharman | Fumiko Takeda | Hong Yu
Asset Pricing with Liquidity Risk: A Replication and Out-of-Sample Tests with the Recent US and the Japanese Market Data
Volume 8, Issue 1-2
Jozef Drienko | Tom Smith | Anna von Reibnitz
A Review of the Return—Illiquidity Relationship
Volume 8, Issue 1-2
Larry Harris | Andrea Amato
Illiquidity and Stock Returns: Cross-Section and Time-Series Effects: A Replication
Volume 8, Issue 1-2
Ivo Welch
Reproducing, Extending, Updating, Replicating, Reexamining, and Reconciling
Volume 7, Issue 2
Edwin J. Elton | Martin J. Gruber | Andre de Souza
Fund of Funds Selection of Mutual Funds
Volume 7, Issue 2
John Adams | Darren Hayunga | Sattar Mansi
Diseconomies of Scale in the Actively-Managed Mutual Fund Industry: What Do the Outliers in the Data Tell Us?
Volume 7, Issue 2
Scott Cederburg | Michael S. O’Doherty | N. E. Savin | Ashish Tiwari
Conditional Benchmarks and Predictors of Mutual Fund Performance
Volume 7, Issue 2
Harrison Hong | Wenxi Jiang
Diseconomies of Scale in the Actively-Managed Mutual Fund Industry: Fund Industry: What Do the Outliers in the Data Tell Us?: A Response
Volume 7, Issue 1
Kathryn Dewenter | Catherine Schrand | Clare Wang
The Impact of Currency Risk on US MNCs: New Evidence From Returns and Cross-Border Investment Around Currency Crises
Volume 7, Issue 1
Denys Glushkov | Ajay Khorana | P. Raghavendra Rau | Jingxuan Zhang
Why Do Firms Go Public Through Debt Instead of Equity?
Volume 7, Issue 1
Lewis Gaul | Jonathan Jones | Pinar Uysal
Takeover Defense Provisions, Firm Volatility, and the Cost of Corporate Loan Finance
Volume 7, Issue 1
Sudheer Chava | Dmitry Livdan | Amiyatosh Purnanandam
Shareholder Rights Do Affect the Cost of Bank Loan
Volume 6, Issue 2
Kent Daniel | Robert J. Hodrick | Zhongjin Lu
The Carry Trade: Risks and Drawdowns
Volume 6, Issue 2
John Y. Campbell | Adi Sunderam | Luis M. Viceira
Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds
Volume 6, Issue 2
Anna von Reibnitz
When Opportunity Knocks: Cross-Sectional Return Dispersion and Active Fund Performance
Volume 6, Issue 2
Wen-Chyan Ke | Hsiou-Wei William Lin
An Improved Version of the Volume-Synchronized Probability of Informed Trading
Volume 6, Issue 2
David Easley | Marcos Lopez de Prado | Maureen O'Hara
An Improved Version of the Volume-Synchronized Probability of Informed Trading: A Comment
Volume 6, Issue 2
Nicola Borri | Giuseppe Ragusa
Sensitivity, Moment Conditions, and the Risk-Free Rate in Yogo (2006)
Volume 6, Issue 1
Marshall E. Blume | Donald B. Keim
The Changing Nature of Institutional Stock Investing
Volume 6, Issue 1
M. Fabricio Perez | Andriy Shkilko
Catering Through Nominal Share Prices Revisited
Volume 5, Issue 2
Thomas Davidoff
Supply Constraints Are Not Valid Instrumental Variables for Home Prices Because They Are Correlated With Many Demand Factors
Volume 5, Issue 2
Vladimir Atanasov | Bernard Black
Shock-Based Causal Inference in Corporate Finance and Accounting Research
Volume 5, Issue 2
Blake Phillips | Kantura Pukthuanthong | P. Raghavendra Rau
Past Performance May Be an Illusion: Performance, Flows, and Fees in Mutual Funds
Volume 5, Issue 1
Clifford G. Holderness
Problems Using Aggregate Data to Infer Individual Behavior: Evidence from Law, Finance, and Ownership Concentration
Volume 3, Issue 1
Ross Levine | Yona Rubinstein | Alexey Levkov
Bank Deregulation and Racial Inequality in America
Volume 3, Issue 1
Gavin S. Smith | Peter L. Swan
Do Concentrated Institutional Investors Really Reduce Executive Compensation Whilst Raising Incentives?
Volume 2, Issue 1
Martijn Cremers | Antti Petajisto | Eric Zitzewitz
Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
Volume 2, Issue 1
Charles W. Calomiris | Stanley D. Longhofer | William Miles
The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares
Volume 2, Issue 1
Karl E. Case | John M. Quigley | Robert J. Shiller
Wealth Effects Revisited 1975–2012
Volume 2, Issue 1
Ivo Welch
A Critique of Recent Quantitative and Deep-Structure Modeling in Capital Structure Research and Beyond
Volume 1, Issue 1
Heitor Almeida | Murillo Campello | Bruno Laranjeira | Scott Weisbenner
Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis
Volume 1, Issue 1
Kent Daniel | Sheridan Titman
Testing Factor-Model Explanations of Market Anomalies
Volume 1, Issue 1
Jason Beeler | John Y. Campbell
The Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment
Volume 1, Issue 1
Ravi Bansal | Dana Kiku | Amir Yaron
An Empirical Evaluation of the Long-Run Risks Model for Asset Prices
Critical Finance Review