Journal of Financial Economics

(The TQCC of Journal of Financial Economics is 153. The table below lists those papers that are above that threshold based on CrossRef citation counts. The publications cover those that have been published in the past four years, i.e., from 2019-06-01 to 2023-06-01.)
The theory and practice of corporate finance: evidence from the field3092
Estimating betas from nonsynchronous data1831
Firm size and the gains from acquisitions1436
The real effects of financial constraints: Evidence from a financial crisis1252
The distribution of realized stock return volatility1213
The jump-risk premia implicit in options: evidence from an integrated time-series study1181
Synergistic gains from corporate acquisitions and their division between the stockholders of target and acquiring firms977
Cronyism and capital controls: evidence from Malaysia933
Does function follow organizational form? Evidence from the lending practices of large and small banks928
Does governance travel around the world? Evidence from institutional investors891
Corporate social responsibility and stakeholder value maximization: Evidence from mergers792
Do institutional investors drive corporate social responsibility? International evidence720
Testing static tradeoff against pecking order models of capital structure1This paper has benefited from comments by seminar participants at Boston College, Boston Unsiversity, Dartmouth College, Massa708
Private benefits from control of public corporations685
Ownership concentration, foreign shareholding, audit quality, and stock price synchronicity: Evidence from China622
Managerial performance, Tobin's Q, and the gains from successful tender offers595
The choice among bank debt, non-bank private debt, and public debt: evidence from new corporate borrowings590
Alternative factor specifications, security characteristics, and the cross-section of expected stock returns1We are especially grateful to Eugene Fama (a referee), an anonymous referee and Bill Schwer581
The gains to bidding firms from merger558
Corporate governance and firm profitability: evidence from Korea before the economic crisis542
Tunneling, propping, and expropriation: evidence from connected party transactions in Hong Kong☆537
Political relationships, global financing, and corporate transparency: Evidence from Indonesia☆530
Short-sellers, fundamental analysis, and stock returns521
Corporate governance and firm value: evidence from the Korean financial crisis520
Stealth-trading: Which traders' trades move stock prices?506
Renegotiation of financial contracts: Evidence from private credit agreements468
Does industry-wide distress affect defaulted firms? Evidence from creditor recoveries465
Sources of gains in horizontal mergers: evidence from customer, supplier, and rival firms446
The market reaction to international cross-listings: evidence from Depositary Receipts445
Stock option plans for non-executive employees429
Political uncertainty and investment: Causal evidence from U.S. gubernatorial elections419
Separating microstructure noise from volatility418
Affiliated firms and financial support: Evidence from Indian business groups415
Firm boundaries matter: Evidence from conglomerates and R&D activity397
CEO compensation and incentives: Evidence from M&A bonuses395
Who are the active investors?☆Evidence from venture capital386
Market microstructure and securities values: Evidence from the Tel Aviv Stock Exchange385
Payoff complementarities and financial fragility: Evidence from mutual fund outflows385
Trade credit and bank credit: Evidence from recent financial crises371
Good and bad credit contagion: Evidence from credit default swaps☆363
Stockholder gains from focusing versus diversifying bank mergers362
U.S. cross-listings and the private benefits of control: evidence from dual-class firms346
Multifactor models do not explain deviations from the CAPM345
Do analysts matter for governance? Evidence from natural experiments344
The role of state and foreign owners in corporate risk-taking: Evidence from privatization335
On the exclusion of assets from tests of the two-parameter model330
Stock options and managerial incentives for risk taking: Evidence from FAS 123R329
The value of independent directors: Evidence from sudden deaths☆323
Intermediary asset pricing: New evidence from many asset classes322
Governance with poor investor protection: evidence from top executive turnover in Italy322
Limited arbitrage and short sales restrictions: evidence from the options markets322
Determinants of corporate cash policy: Insights from private firms318
Share restrictions and asset pricing: Evidence from the hedge fund industry☆315
Executive pay and performance Evidence from the U.S. banking industry315
Funding growth in bank-based and market-based financial systems: evidence from firm-level data311
Where do merger gains come from? Bank mergers from the perspective of insiders and outsiders311
As certain as debt and taxes: Estimating the tax sensitivity of leverage from state tax changes309
The value of connections in turbulent times: Evidence from the United States308
Size and value in China303
The flight home effect: Evidence from the syndicated loan market during financial crises303
Informational effects of regulation FD: evidence from rating agencies302
Structural models of credit risk are useful: Evidence from hedge ratios on corporate bonds☆301
Predicting stock price movements from past returns: the role of consistency and tax-loss selling298
Firms as liquidity providers: Evidence from the 2007–2008 financial crisis298
Who underreacts to cash-flow news? evidence from trading between individuals and institutions292
Informed trading before analyst downgrades: Evidence from short sellers288
The economic consequences of increased disclosure: Evidence from international cross-listings☆281
CEO compensation and bank mergers273
Agents watching agents?: evidence from pension fund ownership and firm value267
Disaster on the horizon: The price effect of sea level rise266
Learning from peers' stock prices and corporate investment266
Drawing inferences from statistics based on multiyear asset returns264
Corporate focus and value creation evidence from spinoffs261
Characteristics are covariances: A unified model of risk and return250
Information and volatility linkages in the stock, bond, and money markets11This paper was previously under the title, `Volatility and common information in the stock, bond, and money markets’. We than248
Collateral, debt capacity, and corporate investment: Evidence from a natural experiment248
Externalities of public firm presence: Evidence from private firms' investment decisions247
From mining to markets: The evolution of bitcoin transaction fees247
Manager sentiment and stock returns243
China׳s secondary privatization: Perspectives from the Split-Share Structure Reform243
Securitization and distressed loan renegotiation: Evidence from the subprime mortgage crisis242
Disentangling diffusion from jumps241
Limits to arbitrage and hedging: Evidence from commodity markets234
Measuring investment distortions arising from stockholder–bondholder conflicts234
Capital structure and product markets interactions: evidence from business cycles227
Do equity financing cycles matter? evidence from biotechnology alliances226
Investment-cash flow sensitivity cannot be a good measure of financial constraints: Evidence from the time series222
Do mutual funds time the market? Evidence from portfolio holdings220
Do managers overreact to salient risks? Evidence from hurricane strikes216
Does good corporate governance include employee representation? Evidence from German corporate boards215
Do firms have leverage targets? Evidence from acquisitions214
Common risk factors in the cross-section of corporate bond returns214
The impacts of political uncertainty on asset prices: Evidence from the Bo scandal in China212
The structure and formation of business groups: Evidence from Korean chaebols212
Conflicts between principals and agents: evidence from residential brokerage206
Exchange rate exposure and competition: evidence from the automotive industry205
Firm diversification and asymmetric information: evidence from analysts' forecasts and earnings announcements195
Why do stock prices drop by less than the value of the dividend? Evidence from a country without taxes193
Do takeover laws matter? Evidence from five decades of hostile takeovers191
Government ownership and the cost of debt: Evidence from government investments in publicly traded firms190
An application of a three-factor performance index to measure stockholder gains from merger189
Creditor rights and innovation: Evidence from patent collateral186
Evaluating the impact of unconventional monetary policy measures: Empirical evidence from the ECB׳s Securities Markets Programme185
Information asymmetry and firms’ credit market access: Evidence from Moody's credit rating format refinement181
What do boards really do? Evidence from minutes of board meetings181
The costs of shareholder activism: Evidence from a sequential decision model177
Deviation from the target capital structure and acquisition choices177
Will the U.S. bank recapitalization succeed? Eight lessons from Japan177
Is there a pecking order? Evidence from a panel of IPO firms175
Hedge funds as liquidity providers: Evidence from the Lehman bankruptcy175
The value of excess cash and corporate governance: Evidence from US cross-listings172
Monitoring and corporate disclosure: Evidence from a natural experiment165
Private benefits from block ownership and discounts on closed-end funds164
Paper millionaires: how valuable is stock to a stockholder who is restricted from selling it?163
Profitability and capital structure: Evidence from import penetration161
Employment risk, compensation incentives, and managerial risk taking: Evidence from the mutual fund industry161
Alternative flotation methods, adverse selection, and ownership structure: evidence from seasoned equity issuance in the U.K.160
Asset liquidity, capital structure, and secured debt160
Board classification and managerial entrenchment: Evidence from the market for corporate control158
CEO overconfidence and financial crisis: Evidence from bank lending and leverage157
Profiting from government stakes in a command economy: Evidence from Chinese asset sales155
The internal capital markets of business groups: Evidence from intra-group loans154
Does diversification destroy value? Evidence from the industry shocks153
Information production, dilution costs, and optimal security design153
Gains in bank mergers: Evidence from the bond markets153