Journal of Empirical Finance

Article	Citations
Running a mutual fund: Performance and trading behavior of runner managers	75
New evidence on Bayesian tests of global factor pricing models	70
Reinsurance demand and liquidity creation: A search for bicausality	63
Do leveraged warrants prompt individuals to speculate on stock price reversals?	36
Uncovered interest rate parity redux: Non-uniform effects	35
Investment, idiosyncratic risk, and growth options	34
The effects of economic uncertainty on financial volatility: A comprehensive investigation	32
Bond issuance and the funding choices of European banks: The consequences of public debt	30
Intraday VaR: A copula-based approach	29
Detecting jumps amidst prevalent zero returns: Evidence from the U.S. Treasury securities	28
Corporate social responsibility and excess perks	27
Information in unexpected bonus cuts: Firm performance and CEO firings	26
Introducing article numbering to Journal of Empirical Finance	26
Editorial Board	25
Equity markets volatility clustering: A multiscale analysis of intraday and overnight returns	24
The role of bad-news coverage and media environments in crash risk around the world	22
Can we forecast better in periods of low uncertainty? The role of technical indicators	21
Factor correlation and the cross section of asset returns: A correlation-robust machine learning approach	19
Does subsidiary bank failure affect parents’ capital decisions? Evidence from US bank holding companies	18
Do firms use credit lines to support investment opportunities?: Evidence from success in R&D	18
The non-linear trade-off between return and risk and its determinants	17
From watchdog to watchman: Do independent directors monitor a CEO of their own age?	17
Characteristic-sorted portfolios and macroeconomic risks—An orthogonal decomposition	17
Dynamic risk management and asset comovement	16
Why Do U.S. Firms Invest Less over Time?	16

Using, taming or avoiding the factor zoo? A double-shrinkage estimator for covariance matrices	15
Estimation and inference in low frequency factor model regressions with overlapping observations	15
Shadow capital in venture financing: Selection, valuation, and exit dynamic	15
A portfolio-level, sum-of-the-parts approach to return predictability	14
Do mutual funds and ETFs affect the commonality in liquidity of corporate bonds?	14
Mispricing and Anomalies: An Exogenous Shock to Short Selling from JGTRRA	14
Are cryptocurrencies a safe haven for stock investors? A regime-switching approach	13
Forecasting realized volatility: Does anything beat linear models?	13
Dynamic relationship between Stock and Bond returns: A GAS MIDAS copula approach	12
Endogeneity in the mutual fund flow–performance relationship: An instrumental variables solution	12
The effect of venture capital backing on innovation in newly public firms	12
Oil price shocks and the US stock market: A nonlinear approach	12
House price bubbles under the COVID-19 pandemic	12
Tracking performance of VIX futures ETPs	12
Forecasting tail risk measures for financial time series: An extreme value approach with covariates	11
What drives the TIPS–Treasury bond mispricing?	11
Isolating momentum crashes	10
Peer influence and the value of cash holdings	10
Time-varying Z-score measures for bank insolvency risk: Best practice	10
Gold, platinum, and mutual fund flows	9
Deciphering big data in consumer credit evaluation	9
Investor sentiment and stock returns: Global evidence	9
Banker directors on board and corporate tax avoidance	9
Timing is money: The factor timing ability of hedge fund managers	9
Time series momentum and reversal: Intraday information from realized semivariance	8
Macroeconomic news and price synchronicity	8
Persistent and transient variance components in option pricing models with variance-dependent Kernel	8
Option valuation via nonaffine dynamics with realized volatility	8
Executive compensation and aspirational peer benchmarking	7
To be or not to be all-equity for firms that eliminate long-term debt	7
Is convexity efficiently priced? Evidence from international swap markets	7
Maximum likelihood estimation of the Hull–White model	7
Economic evaluation of asset pricing models under predictability	7
Editorial Board	7
Limit order revisions across investor sophistication	7
Mortgage credit growth for lower-income borrowers during the 2000s housing boom: Evidence and implications	7
Forecasting Bitcoin realized volatility by exploiting measurement error under model uncertainty	7
Stock price movements: Evidence from global equity markets	7
The effect of investor attention on stock price crash risk	7
Bank stocks, risk factors, and tail behavior	7
Do financial variables help predict the conditional distribution of the market portfolio?	7
Predictive regression with p-lags and order-7
Overlapping momentum portfolios	6
Portfolio allocation over the life cycle with multiple late-in-life saving motives	6
The effects of banking market structure on corporate cash holdings and the value of cash	6
The diversification benefits and policy risks of accessing China’s stock market	6
Whose money is smart? Individual and institutional investors’ trades based on analyst recommendations	6
The stock market tips	6
Expensive anomalies	6
Financial risk-taking, religiosity and denomination heterogeneity	6

Tariff uncertainty and firm innovation: Evidence from the U.S.–China Permanent Normal Trade Relation	6
In search of retail investors: The effect of retail investor attention on odd lot trades	6
Spillover effects in managerial compensation	6
Changes in the electorate and firm values: Evidence from the introduction of female suffrage in Switzerland	6
An empirical application of Particle Markov Chain Monte Carlo to frailty correlated default models	6
Price convergence between credit default swap and put option: New evidence	6
Multiple testing of the forward rate unbiasedness hypothesis across currencies	5
Can interest rate factors explain exchange rate fluctuations?	5
Policy risk and insider trading	5
Conditional out-of-sample predictability of aggregate equity returns and aggregate equity return volatility using economic variables	5
Social capital and the pricing of initial public offerings	5
Corporate hedging fragility in the over-the-counter market	5
How do bail-in amendments in Directive (EU) 2017/2399 affect the subordinated bond yields of EU G-SIBs?	5
Exploring risk premium factors for country equity returns	5
Climate change concerns and mortgage lending	5
Value and momentum from investors’ perspective: Evidence from professionals’ risk-ratings	5
CEO personality traits and corporate value implication of acquisitions	5
Forecasting realized volatility with wavelet decomposition	5
Mutual fund (sub)advisor connections and crowds	5
Do share repurchases facilitate movement toward target capital structure? International evidence	5
Customer–supplier relationships and non-linear financial policy response	5
The risk–return tradeoff among equity factors	4
Policy uncertainty, bad news disclosure, and stock price crash risk	4
Editorial Board	4
Household portfolio allocation, uncertainty, and risk	4
Implied local volatility models	4
Housing market spillovers through the lens of transaction volume: A new spillover index approach	4
Big portfolio selection by graph-based conditional moments method	4
Natural disasters and the role of regional lenders in economic recovery	4
The money-inflation nexus revisited	4
Empirical analysis of crude oil dynamics using affine vs. non-affine jump-diffusion models	4
Media coverage and investment efficiency	4
Diversity and inclusion: Evidence from corporate inventors	4
How does bank opacity affect credit growth and return predictability?	4
The 2008 short-selling ban’s impact on tail risk	4
Certainty of uncertainty for asset pricing	4
Betting on success: Unveiling the role of local gambling culture in equity crowdfunding	4
Short-term momentum and reversals, turnover, and a stock’s price-to-52-week-high ratio	4
A revisit to bias-adjusted predictive regression	4
Forecasting stock returns with large dimensional factor models	4
Managerial commitment and heterogeneity in target-date funds	3
Editorial Board	3
Monitoring institutional ownership and corporate innovation	3
Editorial Board	3
Tournament incentives, age diversity and firm performance	3
Risk optimizations on basis portfolios: The role of sorting	3
CEO networks and the labor market for directors	3
Non-marketability and one-day selling lockup	3
The informativeness of regional GDP announcements: Evidence from China	3
Testing predictability of stock returns under possible bubbles	3
Income, trading, and performance: Evidence from retail investors	3
Investment restrictions and fund performance	3
What does a term structure model imply about very long-term interest rates?	3
Automated stock picking using random forests	3
Partial moments and indexation investment strategies	3
Improved inference for fund alphas using high-dimensional cross-sectional tests	3
Editorial Board	3
Time-dependent lottery preference and the cross-section of stock returns	3
Editorial Board	3
Acute illness symptoms among investment professionals and stock market dynamics: Evidence from New York City	3
Technology spillover, corporate investment, and stock returns	3
Individual investors’ trading behavior and gender difference in tolerance of sex crimes: Evidence from a natural experiment	3
Does the executive labor market discipline? Labor market incentives and earnings management	3
Out-of-sample equity premium prediction: The role of option-implied constraints	3
Forecasting earnings with combination of analyst forecasts	3
Uncertainty in the Black–Litterman model: Empirical estimation of the equilibrium	2
Long-horizon stock valuation and return forecasts based on demographic projections	2
Pooling and winsorizing machine learning forecasts to predict stock returns with high-dimensional data	2
The pricing of jump and diffusive risks in the cross-section of cryptocurrency returns	2
Enhancing the profitability of lottery strategies	2
A comparison of factor models in China	2
Financial statement disaggregation and bank loan pricing	2
Non-standard errors in asset pricing: Mind your sorts	2
Editorial Board	2
Reserve holding and bank lending	2
Industry regulation and the comovement of stock returns	2
Drivers of economic and financial integration: A machine learning approach	2
A toolkit for exploiting contemporaneous stock correlations	2
Stock return prediction: Stacking a variety of models	2
Modeling and forecasting dynamic conditional correlations with opening, high, low, and closing prices	2

Empirical performance of component GARCH models in pricing VIX term structure and VIX futures	2
Global political risk and international stock returns	2
I only fear when I hear: How media affects insider trading in takeover targets	2
Time-varying variance decomposition of macro-finance term structure models	2
Why do firms with no leverage still have leverage and volatility feedback effects?	2
Herding behavior and systemic risk in global stock markets	2
Share pledging, payout policy, and the value of cash holdings	2
Forecasting intraday market risk: A marked self-exciting point process with exogenous renewals	2
Editorial Board	2
Editorial Board	2
An empirical review of dynamic extreme value models for forecasting value at risk, expected shortfall and expectile	2
Using the Bayesian sampling method to estimate corporate loss given default distribution	2
An adaptive long memory conditional correlation model	2
Option gamma and stock returns	2
On the stability of stablecoins	2
Tone or term: Machine-learning text analysis, featured vocabulary extraction, and evidence from bond pricing in China	2
Unveiling the Villain: Credit Supply and the Debt Trap	2
Can existing corporate finance theories explain security offerings during the COVID-19 pandemic?	2
Inverted vs maker-taker routing choice and trader information	2
Forecasting volatility using double shrinkage methods	2
Instantaneous volatility of the yield curve, variance risk premium and bond return predictability	2
Term premia and short rate expectations in the euro area	2
Tail risks and private equity performance	2
Geographic diversification and corporate cash holdings	2