Review of Financial Studies

Papers
(The TQCC of Review of Financial Studies is 20. The table below lists those papers that are above that threshold based on CrossRef citation counts [max. 250 papers]. The publications cover those that have been published in the past four years, i.e., from 2021-11-01 to 2025-11-01.)
ArticleCitations
Bail-Ins, Optimal Regulation, and Crisis Resolution417
Valuing Financial Data397
Credit Building or Credit Crumbling? A Credit Builder Loan’s Effects on Consumer Behavior and Market Efficiency in the United States228
RETRACTED: Mortgage Finance and Climate Change: Securitization Dynamics in the Aftermath of Natural Disasters226
How ETFs Amplify the Global Financial Cycle in Emerging Markets211
Macroprudential Regulation, Quantitative Easing, and Bank Lending193
Collateral Effects: The Role of FinTech in Small Business Lending162
Missing Data in Asset Pricing Panels154
Duration-Based Valuation of Corporate Bonds140
The Coholding Puzzle: New Evidence from Transaction-Level Data138
Human Capital Portability and Careers in Finance132
Factor Momentum119
Tuition, Debt, and Human Capital116
Tax Policy and Abnormal Investment Behavior112
Bond Price Fragility and the Structure of the Mutual Fund Industry109
The Pace of Change: Socially Responsible Investing in Private Markets103
Private Renegotiations and Government Interventions in Credit Chains102
Banking on Carbon: Corporate Lending and Cap-and-Trade Policy98
Digital Payments and Consumption: Evidence from the 2016 Demonetization in India94
Using Social Media to Identify the Effects of Congressional Viewpoints on Asset Prices94
Investor Memory92
The Gender Gap in Household Bargaining Power: A Revealed-Preference Approach90
Who Mismanages Student Loans, and Why?80
Nonbank Lending and Credit Cyclicality79
Public Debt, Consumption Growth, and the Slope of the Term Structure77
Should the Government Be Paying Investment Fees on $3 Trillion of Tax-Deferred Retirement Assets?77
The Geography of Value Creation75
Risking or Derisking: How Management Fees Affect Hedge Fund Risk-Taking Choices68
Estimating Discount Functions with Consumption Choices over the Lifecycle66
In Safe Hands: The Financial and Real Impact of Investor Composition over the Credit Cycle65
The Rise of Star Firms: Intangible Capital and Competition62
Price and Volume Divergence in China’s Real Estate Markets: The Role of Local Governments62
Insurers as Asset Managers and Systemic Risk61
Counterparty Risk: Implications for Network Linkages and Asset Prices60
Size Discount and Size Penalty: Trading Costs in Bond Markets59
Deconstructing the Yield Curve58
Failure to Share Natural Disaster Risk55
Holding Period Effects in Dividend Strip Returns53
The Oligopoly Lucas Tree53
Are Bankruptcy Professional Fees Excessively High?52
Bank Bonus Pay as a Risk Sharing Contract51
Can Human Capital Explain Income-Based Disparities in Financial Services?51
Horizon Bias and the Term Structure of Equity Returns50
Firm Networks and Asset Returns48
Owner Incentives and Performance in Healthcare: Private Equity Investment in Nursing Homes47
Simultaneous Multilateral Search47
Conflicts of Interest in Municipal Bond Advising and Underwriting47
Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress47
Racial Disparities in the Auto Loan Market46
Financial Disruptions and the Organization of Innovation: Evidence from the Great Depression46
The Cost of Bank Regulatory Capital46
Fast and Slow Arbitrage: The Predictive Power of (Persistent) Capital Flows for Factor Returns44
Cross-Subsidization of Bad Credit in a Lending Crisis40
SPACs38
Institutional Brokerage Networks: Facilitating Liquidity Provision37
Equity Return Expectations and Portfolios: Evidence from Large Asset Managers37
Is Capital Structure Irrelevant with ESG Investors?37
Continuous-Time Fama-MacBeth Regressions36
What Drives Firms’ Hiring Decisions? An Asset Pricing Perspective34
Technological Progress and Rent Seeking33
The Financial Channel of the Exchange Rate and Global Trade33
Macroeconomic Attention and Announcement Risk Premia33
Going Underwater? Flood Risk Belief Heterogeneity and Coastal Home Price Dynamics32
An Intermediation-Based Model of Exchange Rates32
The Incidence of Student Loan Subsidies: Evidence from the PLUS Program32
Regulatory Intensity and Firm-Specific Exposure32
Health Care Costs and Corporate Investment31
Identifying Price Informativeness31
Political Sentiment and Innovation: Evidence from Patenters30
Trade Credit and the Transmission of Unconventional Monetary Policy30
Investor Sentiment and the Pricing of Characteristics-Based Factors30
Institutional Corporate Bond Pricing29
Do Temporary Demand Shocks Have Long-Term Effects for Startups?28
Credit Cycles, Expectations, and Corporate Investment28
The Fed and the Secular Decline in Interest Rates28
Do Corporate Disclosures Constrain Strategic Analyst Behavior?27
Financial Crises and the Transmission of Monetary Policy to Consumer Credit Markets27
Are Analyst “Top Picks” Informative?27
Competition for Attention in the ETF Space27
Deposit Insurance and Depositor Behavior: Evidence from Colombia27
Hedging, Contract Enforceability, and Competition26
Dynamic Coordination and Bankruptcy Regulations26
International Portfolio Choice with Frictions: Evidence from Mutual Funds26
Can Environmental Policy Encourage Technical Change? Emissions Taxes and R&D Investment in Polluting Firms25
What Determines Consumer Financial Distress? Place- and Person-Based Factors25
Unmasking Mutual Fund Derivative Use25
Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment24
The Psychological Externalities of Investing: Evidence from Stock Returns and Crime24
Are All ESG Funds Created Equal? Only Some Funds Are Committed24
A Comprehensive 2022 Look at the Empirical Performance of Equity Premium Prediction24
Mandatory Financial Disclosure and M&A Activity24
Income Shifting out of the United States by Foreign Multinational Firms23
The Effects of Going Public on Firm Profitability and Strategy23
The Value of Differing Points of View: Evidence from Financial Analysts’ Geographic Diversity23
Adverse Selection and Climate Risk: A Response to22
Π-CAPM: The Classical CAPM with Probability Weighting and Skewed Assets21
Syndicated Lending, Competition, and Relative Performance Evaluation21
Heterogeneous Real Estate Agents and the Housing Cycle21
Digital Tokens and Platform Building20
Neglected Peers in Merger Valuations20
Product Innovation and Credit Market Disruptions20
The Impact of the Opioid Crisis on Firm Value and Investment20
Connected Funds20
Gold’s Value as an Investment20
How Does Removing the Tax Benefits of Debt Affect Firms? Evidence from the 2017 U.S. Tax Reform20
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