Journal of Financial Economics

Article	Citations
Do investors care about carbon risk?	886
How much should we trust staggered difference-in-differences estimates?	863
Sustainable investing in equilibrium	677
Corporate green bonds	658
Corporate immunity to the COVID-19 pandemic	630
Responsible investing: The ESG-efficient frontier	624
Impact investing	309
Dissecting green returns	285
Sustainable investing with ESG rating uncertainty	245
The financing of local government in China: Stimulus loan wanes and shadow banking waxes	245
Count (and count-like) data in finance	219
The Big Three and corporate carbon emissions around the world	206
What do you think about climate finance?	195
Socially responsible corporate customers	185
The real value of China’s stock market	185
Air pollution, affect, and forecasting bias: Evidence from Chinese financial analysts	179
Machine learning in the Chinese stock market	165
Real effects of climate policy: Financial constraints and spillovers	161
Stock market liberalization and innovation	159
Consumer-lending discrimination in the FinTech Era	157
Anatomy of a liquidity crisis: Corporate bonds in the COVID-19 crisis	151
Risk management, firm reputation, and the impact of successful cyberattacks on target firms	145
Policy uncertainty and corporate credit spreads	130
Stress tests and small business lending	126
Financial education affects financial knowledge and downstream behaviors	122

Shared analyst coverage: Unifying momentum spillover effects	120
Corporate culture: Evidence from the field	118
Treasury inconvenience yields during the COVID-19 crisis	113
Terrorist attacks and investor risk preference: Evidence from mutual fund flows	113
Investor ideology	108
Monetary stimulus and bank lending	107
Internet searching and stock price crash risk: Evidence from a quasi-natural experiment	107
IQ from IP: Simplifying search in portfolio choice	101
Does the stock market make firms more productive?	99
Salience theory and stock prices: Empirical evidence	98
Air pollution, behavioral bias, and the disposition effect in China	96
Corporate bond mutual funds and asset fire sales	93
Who's paying attention? Measuring common ownership and its impact on managerial incentives	90
Lucky factors	90
On the fast track: Information acquisition costs and information production	89
Common ownership and competition in product markets	89
At the table but can not break through the glass ceiling:Board leadership positions elude diverse directors	89
Capital requirements, risk choice, and liquidity provision in a business-cycle model	88
Does common ownership really increase firm coordination?	88
Mood beta and seasonalities in stock returns	88
Information flows among rivals and corporate investment	83
Sophisticated investors and market efficiency: Evidence from a natural experiment	83
All the president's friends: Political access and firm value	81
Token-based platform finance	81
Bank monitoring: Evidence from syndicated loans	80
Understanding momentum and reversal	80
Extrapolative beliefs in the cross-section: What can we learn from the crowds?	79
Asset pricing: A tale of night and day	78
Retail trader sophistication and stock market quality: Evidence from brokerage outages	77
Fund tradeoffs	75
Did the paycheck protection program hit the target?	75
The persistent effect of initial success: Evidence from venture capital	74
In sickness and in debt: The COVID-19 impact on sovereign credit risk	74
Can FinTech reduce disparities in access to finance? Evidence from the Paycheck Protection Program	74
CEO-board dynamics	72
Tick size, liquidity for small and large orders, and price informativeness: Evidence from the Tick Size Pilot Program	72
Flattening the curve: Pandemic-Induced revaluation of urban real estate	72
The local innovation spillovers of listed firms	71
The price effects of liquidity shocks: A study of the SEC’s tick size experiment	71
Bank liquidity provision across the firm size distribution	70
On the performance of volatility-managed portfolios	69
Do dividends convey information about future earnings?	69
On the direct and indirect real effects of credit supply shocks	68
Risk perceptions and politics: Evidence from the COVID-19 pandemic	67
Spillover effects in empirical corporate finance	66
When the local newspaper leaves town: The effects of local newspaper closures on corporate misconduct	66
Loan guarantees and credit supply	65
Concentration of control rights in leveraged loan syndicates	65
The democratization of investment research and the informativeness of retail investor trading	65
Dancing with activists	64

Democracy and credit	64
Inspecting the mechanism of quantitative easing in the euro area	63
Security analysts and capital market anomalies	62
Firm selection and corporate cash holdings	61
Mutual fund investments in private firms	61
Is conflicted investment advice better than no advice?	61
The cross-section of intraday and overnight returns	59
Long-term reversals in the corporate bond market	59
Systematic risk, debt maturity, and the term structure of credit spreads	58
Targeted monetary policy and bank lending behavior	58
Corporate actions and the manipulation of retail investors in China: An analysis of stock splits	57
Surprise election for Trump connections	56
Market efficiency in the age of big data	56
Venture capital contracts	56
Does size matter? Bailouts with large and small banks	55
Subnational debt of China: The politics-finance nexus	55
Investor experiences and financial market dynamics	55
Credit migration and covered interest rate parity	54
Uncertainty, access to debt, and firm precautionary behavior	54
Macroprudential FX regulations: Shifting the snowbanks of FX vulnerability?	53
Accounting for financial stability: Bank disclosure and loss recognition in the financial crisis	52
Color and credit: Race, regulation, and the quality of financial services	52
Do people feel less at risk? Evidence from disaster experience	51
Taming the bias zoo	51
What you see is not what you get: The costs of trading market anomalies	51
A picture is worth a thousand words: Measuring investor sentiment by combining machine learning and photos from news	51
Business cycles and currency returns	50
Sticking to your plan: The role of present bias for credit card paydown	49
Reducing information frictions in venture capital: The role of new venture competitions	49
It’s not so bad: Director bankruptcy experience and corporate risk-taking	48
Bitcoin’s limited adoption problem	48
Competition and cooperation in mutual fund families	48
Common shocks in stocks and bonds	48
Access to public capital markets and employment growth	48
Game on: Social networks and markets	47
Does mutual fund illiquidity introduce fragility into asset prices? Evidence from the corporate bond market	47
Premium for heightened uncertainty: Explaining pre-announcement market returns	47
Disguised corruption: Evidence from consumer credit in China	47
Decomposing firm value	46
Optimal financing with tokens	46
It’s what you say and what you buy: A holistic evaluation of the corporate credit facilities	46
Macro news and micro news: Complements or substitutes?	45
Factors and risk premia in individual international stock returns	45
Short-term debt and incentives for risk-taking	45
The conditional expected market return	44
Risk-free interest rates	44
Identifying and boosting “Gazelles”: Evidence from business accelerators	43
Contracts with (Social) benefits: The implementation of impact investing	43
Do limits to arbitrage explain the benefits of volatility-managed portfolios?	43
Music sentiment and stock returns around the world	42
Is there a zero lower bound? The effects of negative policy rates on banks and firms	42
Portfolio similarity and asset liquidation in the insurance industry	42
Central bank communication and the yield curve	42
The design and transmission of central bank liquidity provisions	41
The Sources of Financing Constraints	41
Windfall gains and stock market participation	41
Time-varying inflation risk and stock returns	41
The electronic evolution of corporate bond dealers	41
Betting against betting against beta	41
Open banking: Credit market competition when borrowers own the data	40
Economic momentum and currency returns	40
Hedging macroeconomic and financial uncertainty and volatility	40
The term structure of equity risk premia	40
CoCo issuance and bank fragility	39
Bias in the effective bid-ask spread	39
The short duration premium	39
Intraday arbitrage between ETFs and their underlying portfolios	39
Shielding firm value: Employment protection and process innovation	39
Corporate flexibility in a time of crisis	39
Risky bank guarantees	38
Diagnostic bubbles	38
Compensation disclosures and strategic commitment: Evidence from revenue-based pay	38
Dissecting bankruptcy frictions	38
Asymmetric information risk in FX markets	38
Hedging demand and market intraday momentum	38
Adverse selection and the performance of private equity co-investments	38
Let the rich be flooded: The distribution of financial aid and distress after hurricane harvey	38
Asset pricing with return extrapolation	37
The term structure of liquidity provision	37
Mispricing, short-sale constraints, and the cross-section of option returns	37

IPO peer effects	37
Time-varying demand for lottery: Speculation ahead of earnings announcements	37
Reconstructing the yield curve	37
And the children shall lead: Gender diversity and performance in venture capital	37
Signaling safety	36
Global currency hedging with common risk factors	36
Institutional allocations in the primary market for corporate bonds	36
The micro and macro of managerial beliefs	36
Pervasive underreaction: Evidence from high-frequency data	36
Why do option returns change sign from day to night?	36
A factor model for option returns	36
Salience theory and the cross-section of stock returns: International and further evidence	36
Global market inefficiencies	35
Competition, profitability, and discount rates	35
Retail shareholder participation in the proxy process: Monitoring, engagement, and voting	35
Do activist hedge funds target female CEOs? The role of CEO gender in hedge fund activism	35
Portfolio choice with sustainable spending: A model of reaching for yield	35
Does the lack of financial stability impair the transmission of monetary policy?	35
The cost of steering in financial markets: Evidence from the mortgage market	35
The paradox of pledgeability	34
Sovereign credit risk and exchange rates: Evidence from CDS quanto spreads	34
Regulatory cooperation and foreign portfolio investment	34
The role of financial conditions in portfolio choices: The case of insurers	34
Activism and empire building	34
Global factor premiums	33
Spectral factor models	33
Is the credit spread puzzle a myth?	33
Monetary policy at work: Security and credit application registers evidence	33
Prime (information) brokerage	33
OTC premia	33
Oil volatility risk	33
News as sources of jumps in stock returns: Evidence from 21 million news articles for 9000 companies	33
Cross-asset signals and time series momentum	32
The effect of minority veto rights on controller pay tunneling	32
Trade credit and profitability in production networks	32
Are disagreements agreeable? Evidence from information aggregation	32
Overnight returns, daytime reversals, and future stock returns	32
Issuance overpricing of China's corporate debt securities	32
The effect of media-linked directors on financing and external governance	32
Agency conflicts and short- versus long-termism in corporate policies	32
Learning from noise: Evidence from India’s IPO lotteries	32
Locked in by leverage: Job search during the housing crisis	32
Investors’ appetite for money-like assets: The MMF industry after the 2014 regulatory reform	32
Market expectations of a warming climate	31
The telegraph and modern banking development, 1881–1936	31
The impact of consumer credit access on self-employment and entrepreneurship	31
Real effects of share repurchases legalization on corporate behaviors	31
Sentiment and uncertainty	31
Expected return, volume, and mispricing	31
The importance of being special: Repo markets during the crisis	31
Bank transparency and deposit flows	31
Does customer-base structure influence managerial risk-taking incentives?	30
Life after LIBOR	30
Pirates without borders: The propagation of cyberattacks through firms’ supply chains	30
Peer selection and valuation in mergers and acquisitions	30
The effect of stock liquidity on cash holdings: The repurchase motive	30
Collateral and asymmetric information in lending markets	30
CEOs’ outside opportunities and relative performance evaluation: evidence from a natural experiment	30
Liquidity regimes and optimal dynamic asset allocation	30
On index investing	29
Who provides liquidity, and when?	29
Financial development and labor market outcomes: Evidence from Brazil	29
The missing risk premium in exchange rates	29
Politicizing consumer credit	29
The effect of exogenous information on voluntary disclosure and market quality	29
The economic impact of right-to-work laws: Evidence from collective bargaining agreements and corporate policies	29
Ransomware activity and blockchain congestion	28
Asset prices, midterm elections, and political uncertainty	28
Disappearing and reappearing dividends	28
Persistent negative cash flows, staged financing, and the stockpiling of cash balances	28
Flying under the radar: The effects of short-sale disclosure rules on investor behavior and stock prices	28
Estimating the anomaly base rate	28
The creation and evolution of entrepreneurial public markets	28
Calendar rotations: A new approach for studying the impact of timing using earnings announcements	27
Eye in the sky: Private satellites and government macro data	27
Directors’ career concerns: Evidence from proxy contests and board interlocks	27
Temperature shocks and industry earnings news	27
GSIB surcharges and bank lending: Evidence from US corporate loan data	27
Does the Ross recovery theorem work empirically?	27
High policy uncertainty and low implied market volatility: An academic puzzle?	27
The cross section of the monetary policy announcement premium	27
Foreign investment of US multinationals: The effect of tax policy and agency conflicts.	26
Can ethics be taught? Evidence from securities exams and investment adviser misconduct	26
Rare disaster probability and options pricing	26
Swap trading after Dodd-Frank: Evidence from index CDS	26
Network risk and key players: A structural analysis of interbank liquidity	25
The scarcity effect of QE on repo rates: Evidence from the euro area	25
Death by committee? An analysis of corporate board (sub-) committees	25
A BIT goes a long way: Bilateral investment treaties and cross-border mergers	25
Liquidity risk and exchange-traded fund returns, variances, and tracking errors	25
Investing outside the box: Evidence from alternative vehicles in private equity	24
Sitting bucks: Stale pricing in fixed income funds	24
Long-term discount rates do not vary across firms	24
The colour of finance words	24
What is CEO overconfidence? Evidence from executive assessments	24