Journal of Financial Economics

Article	Citations
How much should we trust staggered difference-in-differences estimates?	1318
Do investors care about carbon risk?	1188
Sustainable investing in equilibrium	938
Corporate green bonds	870
Responsible investing: The ESG-efficient frontier	856
Corporate immunity to the COVID-19 pandemic	734
Dissecting green returns	449
Sustainable investing with ESG rating uncertainty	398
Count (and count-like) data in finance	374
Impact investing	372
What do you think about climate finance?	287
The Big Three and corporate carbon emissions around the world	280
Socially responsible corporate customers	260
Real effects of climate policy: Financial constraints and spillovers	233
Machine learning in the Chinese stock market	230
The real value of China’s stock market	230
Air pollution, affect, and forecasting bias: Evidence from Chinese financial analysts	218
Stock market liberalization and innovation	205
Consumer-lending discrimination in the FinTech Era	198
Risk management, firm reputation, and the impact of successful cyberattacks on target firms	190
Corporate culture: Evidence from the field	181
Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis	180
Policy uncertainty and corporate credit spreads	177
Financial education affects financial knowledge and downstream behaviors	168
Treasury inconvenience yields during the COVID-19 crisis	140

Internet searching and stock price crash risk: Evidence from a quasi-natural experiment	139
Salience theory and stock prices: Empirical evidence	125
Air pollution, behavioral bias, and the disposition effect in China	118
On the fast track: Information acquisition costs and information production	114
Common ownership and competition in product markets	113
Corporate bond mutual funds and asset fire sales	112
Retail trader sophistication and stock market quality: Evidence from brokerage outages	111
Extrapolative beliefs in the cross-section: What can we learn from the crowds?	109
Does common ownership really increase firm coordination?	108
Lucky factors	106
Token-based platform finance	105
All the president's friends: Political access and firm value	103
Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program	103
Bank monitoring: Evidence from syndicated loans	99
Did the paycheck protection program hit the target?	99
The democratization of investment research and the informativeness of retail investor trading	97
Bank liquidity provision across the firm size distribution	96
Understanding momentum and reversal	96
When the local newspaper leaves town: The effects of local newspaper closures on corporate misconduct	96
Flattening the curve: Pandemic-Induced revaluation of urban real estate	94
Sophisticated investors and market efficiency: Evidence from a natural experiment	94
Fund tradeoffs	91
Artificial intelligence, firm growth, and product innovation	91
The local innovation spillovers of listed firms	89
Spillover effects in empirical corporate finance	88
The price effects of liquidity shocks: A study of the SEC’s tick size experiment	88
Asset pricing: A tale of night and day	86
In sickness and in debt: The COVID-19 impact on sovereign credit risk	85
Loan guarantees and credit supply	84
Targeted monetary policy and bank lending behavior	84
On the direct and indirect real effects of credit supply shocks	82
Corporate actions and the manipulation of retail investors in China: An analysis of stock splits	82
Risk perceptions and politics: Evidence from the COVID-19 pandemic	77
Systematic risk, debt maturity, and the term structure of credit spreads	75
Game on: Social networks and markets	75
A picture is worth a thousand words: Measuring investor sentiment by combining machine learning and photos from news	74
Long-term reversals in the corporate bond market	74
Market efficiency in the age of big data	73
Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis	73
Inspecting the mechanism of quantitative easing in the euro area	73
Is conflicted investment advice better than no advice?	72
Firm selection and corporate cash holdings	71
The cost of steering in financial markets: Evidence from the mortgage market	71
Uncertainty, access to debt, and firm precautionary behavior	69
Taming the bias zoo	69
Do people feel less at risk? Evidence from disaster experience	68
Subnational debt of China: The politics-finance nexus	67
Temperature shocks and industry earnings news	67
Venture capital contracts	66
The cross-section of intraday and overnight returns	66

Credit migration and covered interest rate parity	66
Surprise election for Trump connections	65
Does mutual fund illiquidity introduce fragility into asset prices? Evidence from the corporate bond market	64
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?	63
Decomposing firm value	62
Let the rich be flooded: The distribution of financial aid and distress after hurricane harvey	62
It’s not so bad: Director bankruptcy experience and corporate risk-taking	62
Windfall gains and stock market participation	61
Music sentiment and stock returns around the world	60
Access to public capital markets and employment growth	60
The Sources of Financing Constraints	59
Premium for heightened uncertainty: Explaining pre-announcement market returns	59
Open banking: Credit market competition when borrowers own the data	59
Contracts with (Social) benefits: The implementation of impact investing	59
Reconstructing the yield curve	58
Shielding firm value: Employment protection and process innovation	58
Optimal financing with tokens	57
Sticking to your plan: The role of present bias for credit card paydown	56
Corporate flexibility in a time of crisis	56
Is there a zero lower bound? The effects of negative policy rates on banks and firms	56
Bitcoin’s limited adoption problem	55
It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities	55
Risk-free interest rates	55
Common shocks in stocks and bonds	55
Color and credit: Race, regulation, and the quality of financial services	54
Macro news and micro news: Complements or substitutes?	54
Do limits to arbitrage explain the benefits of volatility-managed portfolios?	54
IPO peer effects	53
The term structure of equity risk premia	53
Portfolio similarity and asset liquidation in the insurance industry	53
Expansionary yet different: Credit supply and real effects of negative interest rate policy	53
Central bank communication and the yield curve	52
Asymmetric information risk in FX markets	51
The effect of media-linked directors on financing and external governance	51
The electronic evolution of corporate bond dealers	51
Betting against betting against beta	51
The micro and macro of managerial beliefs	51
Salience theory and the cross-section of stock returns: International and further evidence	51
Factors and risk premia in individual international stock returns	50
Issuance overpricing of China's corporate debt securities	50
Asset pricing with return extrapolation	49
And the children shall lead: Gender diversity and performance in venture capital	49
Dissecting bankruptcy frictions	49
Oil volatility risk	49
On index investing	49
The design and transmission of central bank liquidity provisions	49
Hedging macroeconomic and financial uncertainty and volatility	48
Identifying and boosting “Gazelles”: Evidence from business accelerators	48
Hedging demand and market intraday momentum	47
Diagnostic bubbles	47
Sentiment and uncertainty	47
Bias in the effective bid-ask spread	47
Are disagreements agreeable? Evidence from information aggregation	47
Time-varying demand for lottery: Speculation ahead of earnings announcements	47
Does customer-base structure influence managerial risk-taking incentives?	46
Retail shareholder participation in the proxy process: Monitoring, engagement, and voting	46
News as sources of jumps in stock returns: Evidence from 21 million news articles for 9000 companies	45
Intraday arbitrage between ETFs and their underlying portfolios	45
The role of financial conditions in portfolio choices: The case of insurers	45
CoCo issuance and bank fragility	44
A factor model for option returns	44
Activism and empire building	44
Democracy and the pricing of initial public offerings around the world	44
Market expectations of a warming climate	44
Global market inefficiencies	44
Bank transparency and deposit flows	44
Compensation disclosures and strategic commitment: Evidence from revenue-based pay	43
Collateral and asymmetric information in lending markets	43
The short duration premium	43
Expected return, volume, and mispricing	43
Portfolio choice with sustainable spending: A model of reaching for yield	43
The telegraph and modern banking development, 1881–1936	43
The Big Three and board gender diversity: The effectiveness of shareholder voice	42
Launching with a parachute: The gig economy and new business formation	42
Signaling safety	42
Trade credit and profitability in production networks	41
Investors’ appetite for money-like assets: The MMF industry after the 2014 regulatory reform	41
Persistent negative cash flows, staged financing, and the stockpiling of cash balances	41
Monetary policy at work: Security and credit application registers evidence	41
The effect of minority veto rights on controller pay tunneling	40

Mispricing, short-sale constraints, and the cross-section of option returns	40
Pervasive underreaction: Evidence from high-frequency data	40
Global factor premiums	40
The colour of finance words	40
High policy uncertainty and low implied market volatility: An academic puzzle?	40
Does the lack of financial stability impair the transmission of monetary policy?	40
Do activist hedge funds target female CEOs? The role of CEO gender in hedge fund activism	40
Real effects of share repurchases legalization on corporate behaviors	39
Eye in the sky: Private satellites and government macro data	39
Peer selection and valuation in mergers and acquisitions	39
Priced risk in corporate bonds	39
Learning from noise: Evidence from India’s IPO lotteries	38
Why does the Fed move markets so much? A model of monetary policy and time-varying risk aversion	38
Spectral factor models	38
Competition, profitability, and discount rates	38
The impact of consumer credit access on self-employment and entrepreneurship	38
Financial development and labor market outcomes: Evidence from Brazil	38
Overnight returns, daytime reversals, and future stock returns	38
Politicizing consumer credit	38
The effect of stock liquidity on cash holdings: The repurchase motive	38
Common ownership and innovation efficiency	38
Who provides liquidity, and when?	37
Life after LIBOR	37
Pirates without borders: The propagation of cyberattacks through firms’ supply chains	37
Asset prices, midterm elections, and political uncertainty	37
Machine-learning the skill of mutual fund managers	36
Flying under the radar: The effects of short-sale disclosure rules on investor behavior and stock prices	36
Partisan residential sorting on climate change risk	35
Political ideology and international capital allocation	35
GSIB surcharges and bank lending: Evidence from US corporate loan data	34
Disappearing and reappearing dividends	34
Rare disaster probability and options pricing	34
The cross section of the monetary policy announcement premium	34
Negative peer disclosure	34
Does target firm insider trading signal the target's synergy potential in mergers and acquisitions?	33
Do the right firms survive bankruptcy?	33
What is CEO overconfidence? Evidence from executive assessments	33
A BIT goes a long way: Bilateral investment treaties and cross-border mergers	33
Implicit guarantees and the rise of shadow banking: The case of trust products	33
Directors’ career concerns: Evidence from proxy contests and board interlocks	33
Board structure, director expertise, and advisory role of outside directors	33
Social interactions and households’ flood insurance decisions	33
Investing outside the box: Evidence from alternative vehicles in private equity	33
Foreign investment of US multinationals: The effect of tax policy and agency conflicts.	32
Ransomware activity and blockchain congestion	32
Psychological barrier and cross-firm return predictability	32
Economic uncertainty and investor attention	31
Sitting bucks: Stale pricing in fixed income funds	31
Macro risks and the term structure of interest rates	31
The missing risk premium in exchange rates	31
Realized semibetas: Disentangling “good” and “bad” downside risks	31
Network risk and key players: A structural analysis of interbank liquidity	30
Risk-adjusted capital allocation and misallocation	30
Geographic diversification and bank lending during crises	30
Family comes first: Reproductive health and the gender gap in entrepreneurship	30
Death by committee? An analysis of corporate board (sub-) committees	30
Why are corporate payouts so high in the 2000s?	30
Calendar rotations: A new approach for studying the impact of timing using earnings announcements	30
A day late and a dollar short: Liquidity and household formation among student borrowers	30
Capital supply and corporate bond issuances: Evidence from mutual fund flows	30
Regulatory transparency and the alignment of private and public enforcement: Evidence from the public disclosure of SEC comment letters	30
Silence is safest: Information disclosure when the audience’s preferences are uncertain	30
Estimating the anomaly base rate	29
Impact of marketplace lending on consumers’ future borrowing capacities and borrowing outcomes	29
What drove the 2003–2006 house price boom and subsequent collapse? Disentangling competing explanations	29
Busy bankruptcy courts and the cost of credit	29
Financial intermediation and capital reallocation	29
Speculative dynamics of prices and volume	29
Capital gains taxation and funding for start-ups	29
Recovering the FOMC risk premium	28
Should information be sold separately? Evidence from MiFID II	28
Benchmark interest rates when the government is risky	28
Cyber risk and the U.S. financial system: A pre-mortem analysis	28
Learning, slowly unfolding disasters, and asset prices	28
Price revelation from insider trading: Evidence from hacked earnings news	28
CEO compensation: Evidence from the field	28
Treasury yield implied volatility and real activity	27
Is there a risk-return tradeoff in the corporate bond market? Time-series and cross-sectional evidence	27
What are the events that shake our world? Measuring and hedging global COVOL	27
Mutual fund flows and fluctuations in credit and business cycles	27
Who creates new firms when local opportunities arise?	27
Young firms, old capital	27
Have risk premia vanished?	26
Measuring the welfare cost of asymmetric information in consumer credit markets	26
Are return seasonalities due to risk or mispricing?	26
The big bang: Stock market capitalization in the long run	26
Financing constraints, home equity and selection into entrepreneurship	26
Engineering lemons	26
Angels and venture capitalists: Substitutes or complements?	26
Strategic trading and unobservable information acquisition	26
Does regulatory cooperation help integrate equity markets?	26
Measuring institutional trading costs and the implications for finance research: The case of tick size reductions	26
Brexit and the contraction of syndicated lending	25
The term structure and inflation uncertainty	25
Ambiguity about volatility and investor behavior	25