Critical Finance Review
2012, Vol 1
- Corporate Debt Maturity and the Real Effects of the 2007 Credit Crisis
- Capital Structure Choices
- Testing Factor-Model Explanations of Market Anomalies
- The Long-Run Risks Model and Aggregate Asset Prices: An Empirical Assessment
- An Empirical Evaluation of the Long-Run Risks Model for Asset Prices
2013, Vol 2
- Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
- The Housing Wealth Effect: The Crucial Roles of Demographics, Wealth Distribution and Wealth Shares
- Wealth Effects Revisited 1975-2012
- Editor's Letter by Michael Weisbach
- A Critique of Recent Quantitative and Deep-Structure Modeling in Capital Structure Research and Beyond
- Dynamic Corporate Finance is Useful: A Comment on Welch (2013)
- Model Before Measurement
2014, Vol 3
- Bank Deregulation and Racial Inequality in America
- Do Concentrated Institutional Investors Really Reduce Executive Compensation Whilst Raising Incentives?
- Institutional Investors and Executive Compensation Redux:
A Comment on "Do Concentrated Institutional Investors Really Reduce Executive Compensation Whilst Raising Incentives"
- Incentive Contracts are not Rigged by Powerful CEOs
- Compensation Rigging by Powerful CEOs: A Reply and Cross-Sectional Evidence
2016, Vol 5-1
- Holderness, Clifford G., Problems Using Aggregate Data to Infer Individual Behavior: Evidence from Law, Finance, and Ownership Concentration.
- Holderness, Clifford G., Law and Ownership Reexamined.
- Martijn Cremers and Hongjun Yan, Uncertainty and Valuations.
- Lubos Pastor and Pietro Veronesi, Uncertainty and Valuations: A Comment.
- Joseph Gerakos and Juhani T. Linnainmaa, Market reactions to tangible and intangible information revisited.
- Sheridan Titman and Kent Daniel. Another Look at Market Responses to Tangible and Intangible Information.
2016, Vol 5-2
- Thomas Davidoff. Supply Constraints Are Not Valid Instrumental Variables for Home Prices Because They Are Correlated With Many Demand Factors.
- Vladimir Atanasov and Bernard Black. Shock-Based Causal Inference in Corporate Finance and Accounting Research.
- Jonathan E. Ingersoll, Jr., Cumulative Prospect Theory, Aggregation, and Pricing.
- Blake Phillips, Kuntara Pukthuanthong, and P. Raghavendra Rau, Past performance may be an illusion: Performance, flows, and fees in mutual funds.
- Bhagwan Chowdhry and Eduardo Schwartz, How Should Firms Hedge Market Risk?
- Russell P. Robins and Geoffrey Peter Smith, No More Weekend Effect.
The CFR has moved to two issues per year.
2017 and Beyond --- Cite as Volume 6
- Wen-Chyan Ke and Hsiou-Wei William Lin, An Improved Version of the Volume-Synchronized Probability of Informed Trading (VPIN).
- David Easley and Marcos Lopez de Prado and Maureen O'Hara, An Improved Version of the Volume-Synchronized Probability of Informed Trading (VPIN): A Comment.
- Anna von Reibnitz, When Opportunity Knocks: Cross-Sectional Return Dispersion and Active Fund Performance.
- Dudley, Evan, and Christopher James. Capital-structure changes around IPOs.
- John Y. Campbell, Adi Sunderam, and Luis M. Viceira, Inflation Hedges? The Changing Risks of Nominal Bonds.
- Kathryn Dewenter, Catherine Schrand, and Clare Wang. The impact of currency risk on US MNCs: New evidence from returns and cross-border investment around currency crises.
- Lewis Gaul and Jonathan Jones and Pinar Uysal. Takeover Defense Provisions, Firm Volatility, and Corporate Loan Finance.
- Kent Daniel and Robert J. Hodrick and Zhongjin Lu. The Carry Trade: Risks and Drawdowns.
- Nicola Borri and Giuseppe Ragusa. Sensitivity, Moment Conditions, and the Risk-free Rate in Yogo (2006) .
- Ming Dong and Marie Dutordoir and Chris Veld. Why do firms issue convertible bonds? .
- James W. Kolari and Seppo Pynnonen and Ahmet M. Tuncez. On long-run stock returns after corporate events .
- Hendrik Bessembinder and Feng Zhang. Long Run Stock Returns after Corporate Events Revisited .
2017, Vol 6-1
- Christoph Schneider and Oliver Spalt, Acquisitions as Lotteries? The Selection of Target-Firm Risk and its Impact on Merger Outcomes.
- Katherine Guthrie and Jan Sokolowsky, Obesity and Household Financial Distress.
- Assaf Eisdorfer and Elizabeth Kohl, Corporate Sport Sponsorship and Stock Returns: Evidence from the NFL.
- M. Fabricio Perez and Andriy Shkilko, Catering Through Nominal Share Prices Revisited.
- Marshall E. Blume and Donald B. Keim, The Changing Nature of Institutional Investors.
Liquidity: Replications, Extensions, and Critique (2018, Vol 8-?)
The CFR has invited replications of the three most influential liquidity papers of the last 20 years (RFP Liquidity call). The papers and lead authors will be
- pastor-stambaugh 2003:
- jeffrey pontiff
- Hongtao Li and Robert Novy-Marx and Mihail Velikov. Liquidity risk and asset pricing, Feb 2017, in review.
- acharya-pedersen 2005:
- Eiichiro Kazumori
- Craig W. Holden and Jayoung Nam. Testing the LCAPM vs. Generalized Liquidity-Adjusted Asset Pricing: New Evidence and New Perspectives.
- amihud 2002:
- Larry Harris and Andrea Amato. Illiquidity and Stock Returns: Cross-Section and Time-Series Effects: A Replication. conditionally accepted.
- Jozef Drienko and Tom Smith and Anna von Reibnitz. A Review of the Return-Illiquidity Relationship, Feb 2017. accepted.
Future Replication Possibilities (incl. currently influential paper reference)
This website is also available in encrypted https://cfr.ivo-welch.info form in case you are paranoid.