School top tier publications
Over the last ten years, the UNSW School of Banking and Finance is ranked 29th in research among business schools globally according to Arizona State University.
Our School is the top ranked finance research faculty in Australia - based on publications in the 6 leading internationally recognised finance journals listed below as well as in a broader range of top tier finance journals. For cutting edge research in leading journals of finance and related academic fields, explore our School’s faculty publications listed below.
Top Tier Finance Journal Articles
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Aristidou, A., A. Giga, S. Lee and F. Zapatero, 2025, Aspirational Utility and Investment Behavior, Journal of Financial Economics (forthcoming).
Edelen, R., K. Fong and J.Han, 2025, Regulating Inattention in Fee-Based Financial Advice, Journal of Financial Economics (forthcoming).
Andrade, S., E. Adelphe and A. Jeanneret. 2023, Sovereign Risk Premia and Global Macroeconomic Conditions, Journal of Financial Economics, 147, 172-197.
Della Corte, P., A. Jeanneret and E. Patelli, 2023, A Credit-Based Theory of the Currency Risk Premia, Journal of Financial Economics 149, 473-495.
Dickerson, A., P. Mueller and C. Robotti, 2023, Priced Risk in Corporate Bonds, Journal of Financial Economics, 150 (2), 103707.
Bollerslev, T., A. Patton and R. Quaedvlieg, 2022, Realized Semibetas: Disentangling "good" and "bad" downside risks, Journal of Financial Economics, 144, 227-246.
Payzan-LeNestour, E. and M. Woodford, 2022, Outlier Blindness: A Neurobiological Foundation for Neglect of Financial Risk, Journal of Financial Economics 143(3), 1316-1343.
Adams, R., V. Ragunathan and R. Tumarkin, 2021, Death by committee? An analysis of corporate board (sub-) committees, Journal of Financial Economics, 141(3), 1119-1146.
Laudenbach, C., B. Loos, J. Pirsche, and J. Wohlfahrt, 2021, The Trading Response of Individual Investors to Local Bankruptcies, Journal of Financial Economics 142 (2), 928-953.
Li, F.W., A. Mukherjee and R. Sen, 2021, Inside Brokers, Journal of Financial Economics, 141(3), 1096-1118.
Lin C, C. Ma, Y. Sun and Y. Xu, 2021, The Telegraph and Modern Banking Development, 1881–1936, Journal of Financial Economics, 141, pp. 730–749.
Liu, C., R. Masulis and J. Stanfield, 2021, Why CEO option compensation can be a bad option for shareholders: evidence from major customer relationships, Journal of Financial Economics, 142 (1), 453-481.
Moshirian F., B. Zhang and X. Tian, 2021, 'Stock Market Liberalization and Innovation,', Journal of Financial Economics, 139, pp. 985–1014.
Mukherjee, A. and G. Panayotov, and J. Shon, 2021, Eye in the Sky: Private Satellites and Government Macro Data, Journal of Financial Economics 141 (1), 234-254.
Barrosa, P., P. Karehnke and M. Boons, 2020, Time-varying state variable risk premia in the ICAPM, Journal of Financial Economics, 139(2), 428-451.
Demyanyk, Y., L. Li, E. Loutskina, K. Romero Cortes and P. Strahan, 2020, Stress Tests and Small Business Lending, Journal of Financial Economics, 136(1), 260-279.
Feldman, D., K. Saxena, and J. Xu, 2020, Is the Active Fund Management Industry Concentrated Enough? Journal of Financial Economics, 136(1), 23-43.
Islam, M. E. and J. Zein, 2020, Inventor CEOs, Journal of Financial Economics, 135(2), 505-527.
Moshirian, F., B. Zhang, 2020, Stock Market Liberalization and Innovation, Journal of Financial Economics, 139(3), 985-1014.
Patton, A. and B. Weller, 2020, What You See is Not What You Get: The Costs of Trading Market Anomalies, Journal of Financial Economics, 137, 515-549.
Comerton-Forde, C., V. Gregoire and Z. Zhong 2019, Inverted Fee Structures, Tick Size, and Market Quality, Journal of Financial Economics, 134(1), 141-164.
Harford, J., J. Stanfield, and F. Zhang, 2019, Do insiders time management buyouts and freezeouts to buy undervalued targets? Journal of Financial Economics 131(1), 206-231.
Masulis, R. and E. J. Zhang, 2019, How Valuable Are Independent Directors? Evidence from External Distractions, Journal of Financial Economics, 132(3), 226-256.
Adams, R., A. Akyol and P. Verwijmeren, 2018, Director Skill Sets, Journal of Financial Economics 130(3), 641-662.
Adams, R., M. Keloharju, and S. Knupfer, S., 2018, Are CEOs Born Leaders? Lessons from Traits of a Million Individuals, Journal of Financial Economics, 130(2), 392-408.
Comerton-Forde, C., K. Malinova and A. Park, 2018, Regulating Dark Trading: Order Flow Segmentation and Market Quality, Journal of Financial Economics 130(2), 347-366.
Acharya, V. and Z. Xu, 2017, Financial Dependence and Innovation: The Case of Public versus Private Firms, Journal of Financial Economics 124(2), 223-245.
Cortes, K. and P. Strahan, 2017, Tracing Out Capital Flows: How Financially Integrated Banks Respond to Natural Disasters, Journal of Financial Economics 125(1), 182-199.
Cortes, K., R. Duchin and D. Sosyura, 2016, Clouded Judgement: The Role of Sentiment in Credit Origination, Journal of Financial Economics, 121(2), 392-413.
Humphery-Jenner, M., L. Lisic, V. Nanda and S. Silveri, 2016, Executive Overconfidence and Compensation Structure, Journal of Financial Economics, 119(3), 533-558.
Barroso, P. and P. Santa-Clara, 2015, Momentum Has its Moments, Journal of Financial Economics, 116(1), 111-120.
Dang, T L, F. Moshirian and B. Zhang, 2015, Commonality in News Around the World, Journal of Financial Economics, 116(1), 82-110.
Kwan, A., R. Masulis and T. McInish, 2015, Trading Rules, Competition for Order Flow and Market Fragmentation, Journal of Financial Economics, 115(2), 330-348.
Sen, R. and R. Tumarkin, 2015, Stocking up: Executive optimism, option exercise, and share retention, Journal of Financial Economics, 118(2), 399-430.
Schmidt, B. 2015, Costs and Benefits of ‘Friendly’ Boards during Mergers and Acquisitions, Journal of Financial Economics, 117(2), 424-447.
Johnson, T. and J. Lee, 2014, On the Systematic Volatility of Unpriced Earnings Shocks, Journal of Financial Economics, 114(1), 84-104.
Masulis, R. and S. Mobbs, 2014, Independent Director Incentives: Where Do Talented Directors Spend their Limited Time and Energy?, Journal of Financial Economics, 111(2), 406-429.
Ng, L. and B. Zhang, 2014, Does PIN Affect Equity Prices Around the World, Journal of Financial Economics, 114(1), 178-195.
Green, C. and R. Jame, 2013, Company Name Fluency, Investor Recognition, and Firm Value, Journal of Financial Economics 109(3), 813-834.
Karpoff, J., G. Lee and R. Masulis, 2013, Contracting under Asymmetric Information: Lockup Agreements in Seasoned Equity Offerings, Journal of Financial Economics, 110(3), 607-626.
Duchin, R. and B. Schmidt, 2013, Riding the Merger Wave: Uncertainty, Reduced Monitoring, and Bad Acquisitions, Journal of Financial Economics 107(1), 69-88.
Harford, J., M. Humphery-Jenner and R. Powell, 2012, The Sources of Value Destruction in Acquisitions by Entrenched Managers, Journal of Financial Economics, 106(2), 247-261.
Lau, S., L. Ng and B. Zhang, 2010, The World Price of Home Bias, Journal of Financial Economics, 97(2), 191-217; Lead Article
Patton, A. and A. Timmermann, 2010, Monotonicity in Asset Returns: New Tests with Applications to the Term Structure, the CAPM and Portfolios Sorts, Journal of Financial Economics, 98(3), 605-625.
Lee, G. and R. Masulis, 2009, Seasoned Equity Offerings: Quality of Accounting Information and Expected Flotation Costs, Journal of Financial Economics, 92(3), 443-469.
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Bhamra, H., C. Dorion, A. Jeanneret and M. Weber, 2023, Low Inflation: High Default Risk and High Equity Valuations, Review of Financial Studies 36 (3), 1192-1252.
Barroso, P. and K. Saxena, 2022, Lest We Forget: Learn from Out-of-Sample Forecast Errors when Optimizing Portfolios, Review of Financial Studies, 35 (3), 1222-1278.
Patton, A. and B. Weller, 2022, Risk Price Variation: The Missing Half of Emperical Asset Pricing, Review of Financial Studies, 35(11), 5127-5184.
Boloor Foroosh, A., P. Christoffersen, M. Fournier and C. Gourieroux, 2020, Beta Risk in the Cross-Section of Equities, Review of Financial Studies 33(9), 4318-4366.
Liu, C.Y., A. Low, R. Masulis and L. Zhang, 2020, Monitoring the Monitor: Distracted Institutional Investors and Board Governance, The Review of Financial Studies, 33(10), 4489-4531.
Dou, Y., R. Masulis and J. Zein, 2019, Shareholder Wealth Consequences of Insider Pledging of Company Stock as Collateral for Personal Loans, The Review of Financial Studies, 32(12), 4810-4854.
Christoffersen, P., M. Fournier and K. Jacobs, 2018, The Factor Structure in Equity Options, Review of Financial Studies 31(2), 595-637.
Chuprinin, O. and D. Sosyura, 2018 Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds, Review of Financial Studies, 31(10), 3756-3820.
Edmans, A., L. Goncalves-Pinto, M. Groen-Xu, and Y. Wang, 2018, Strategic News Releases in Equity Vesting Months, Review of Financial Studies, 31, 4099-4141.
Foucault, T., R. Kozhan and W.W. Tham, 2018, Toxic Arbitrage, Review of Financial Studies, 30(4), 1053-1094.
Gao, P., C. Parsons and J. Shen, 2018, The Global Relation between Financial Distress and Equity Returns, Review of Financial Studies, 31(1), 239-277.
Payzan, E. 2018, Can People Learn About ‘Black Swans’? Experimental Evidence, Review of Financial Studies, 31(12), 4815-4862.
You, J., B. Zhang and L. Zhang, 2018, Who Captures the Power of the Pen?, Review of Financial Studies, 31(1), 43-96.
Barillas, F. and K. Nimark, 2017, Speculation and the Term Structure of Interest Rates, Review of Financial Studies, 30(911), 4003-4037.
Barillas, F. and J. Shanken, 2017, Which Alpha?, Review of Financial Studies, 30(4), 1316-1338.
Banerjee S, M. Humphery-Jenner and V. Nanda, 2015, Restraining Overconfident CEOs through Improved Governance: Evidence from the Sarbanes-Oxley Act, Review of Financial Studies, 28(10), 2812-2858.
Guo, L. and R. Masulis, 2015, Board Structure and Monitoring: New Evidence from CEO Turnovers, Review of Financial Studies, 28(10), 2770-2811.
Hameed, A., R. Morck, J. Shen and B. Yeung, 2015, Information, Analysts, and Stock Return Comovement, Review of Financial Studies, 28(11), 3153-3187.
Massa, M., B. Zhang and H. Zhang, 2015, The Invisible Hand of Short Selling: Does Short Selling Discipline Earnings Management?, Review of Financial Studies, 28(6), 1701-1736.
Masulis, R. and S. Reza, 2015, Agency Problems of Corporate Philanthropy, Review of Financial Studies 28(2), 592-636.
Payzan-LeNestour, E. and P. Bossaerts, 2015, Learning About Unstable, Publicly Unobservable Payoffs, Review of Financial Studies, 28(7), 1874-1913.
Babenko, I. and R. Sen, 2014, Money Left on the Table: An Analysis of Participation in Employee Stock Purchase Plans, Review of Financial Studies 27, 3658–3698.
Knyazeva, A., D. Knyazeva and R. Masulis, 2013, The Supply of Corporate Directors and Board Independence, Review of Financial Studies, 26(6),1561-1605.
Bhattacharya, U., A. Hackethal, S. Kaesler, B. Loos, and S. Meyer, 2012 Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study, Review of Financial Studies, (Lead article) 25, 975-1032.
Patton, A. and M. Verardo, 2012, Does Beta Move with News? Firm-Specific Information Flows and Learning about Profitability, Review of Financial Studies, 25(9), 2789-2839.
Masulis, R., P. Pham and J. Zein, 2011, Family Business Groups around the World: Costs and Benefits of Pyramids, Review of Financial Studies, 24(11), 3556-3600.
Patton, A. 2009, Are "Market Neutral" Hedge Funds Really Market Neutral?, Review of Financial Studies, 22(7), 2495-2530.
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Fournier, M., K. Jacobs and P. Orlowski, 2024, Modelling Conditional Factor Risk Premia Implied by Index Option Returns, Journal of Finance (forthcoming).
Levine, R., C. Lin, C. Ma and Y. Xu, 2023, The Legal Origins of Financial Development: Evidence from the Shanghai Concessions, Journal of Finance, 78(6), pp. 3423–3464.
Barillas, F. and J. Shanken, 2018, Comparing Asset Pricing Models, Journal of Finance, 73(2), 715-754.
Chuprinin O., M. Massa and D. Schumacher 2015, Outsourcing in The International Mutual Fund Industry: An Equilibrium View, Journal of Finance, 70(5), 2275-2308.
Patton, A., T. Ramadorai and M. Streatfield, 2015, Change You can Believe In? Hedge Fund Data Revisions, Journal of Finance, 70(3), 963-999.
Patton, A. and T Ramadorai, 2013, On the High Frequency Dynamics of Hedge Fund Risk Exposures, Journal of Finance, 68(2), 597-635.
Masulis, R. and S. Mobbs, 2011, Are All Inside Directors the Same?, Journal of Finance, 66(3), 823-872.
Masulis, R., C. Wang and F. Xie, 2009, Agency Costs at Dual-Class Companies, Journal of Finance, 64(4), 1697-1727.
Lauren Cohen L., and B. Schmidt, 2009, Attracting Flows by Attracting Big Clients, Journal of Finance 64 (5), 1225-1252.
Masulis, R., C. Wang and F. Xie, 2007, Corporate Governance and Acquirer Returns, Journal of Finance, 62(4), 1851-1889.
Li, D., F. Moshirian, P. Pham and J. Zein, 2006, When Financial Institutions are Large Shareholders: The Role of Macro Corporate Governance Environment', Journal of Finance, 61(6), 2975-3007.
Faccio, M., R. Masulis and J. McConnell, 2006, Government Bailouts and Political Connections, Journal of Finance, 61(6), 2597-2635.
Faccio, M., and R. Masulis, 2005, The Choice of Financing Methods in European Mergers & Acquisitions, Journal of Finance, 60(3), 1345-1388.
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Masulis, R., C. Wang, F. Xie and S. Zhang, 2024, Older and Wiser or Too Old to Govern?, Journal of Financial and Quantitative Analysis (forthcoming).
Chang, X., Y. Chen and R. Masulis, 2023, Bank Lines of Credit as a Source of Long-term Finance, Journal of Financial and Quantitative Analysis 58 (4), 1701-1733.
Deng, W., V. Gupta, M. Lipson and S. Mortal, 2023, Short Sale Constraints and Corporate Investment, Journal of Financial and Quantitative Analysis, 58 (6), 2489–2521.
E. Sojli, W.W. Tham, Schraeder S and Subrahmanyam A, 2023, Equity Trading Activity and Treasury Bond Risk Premia, Journal of Financial and Quantitative Analysis, 58(2), 677 – 677.
Masulis, R., P. Pham, J. Zein and A. Ang, 2023, Crises as Opportunities for Growth: The Strategic Value of Business Group, Journal of Financial and Quantitative Analysis 58(4), 1508-1546.
Moshirian F., P. Pham, S. Tian and E. Wu, 2023, Foreign Ties that Bind: Cross-border Firm Expansions and Fund Portfolio Allocation around the World, Journal of Financial and Quantitative Analysis, 58 (4), 1768 - 1807.
Koh, P.S., D. Reeb, E. Sojli, W.W. Tham and W. Wang, 2022, Deleting unreported innovation, Journal of Financial and Quantitative Analysis, 57(6), 2324 - 2354.
Boehmer, E., K.Y.L. Fong and J. Wu, 2021, Algorithmic Trading and Market Quality: International Evidence, Journal of Financial and Quantitative Analysis, 56(8), 2659 - 2688.
Christoffersen, P., M. Fournier, K. Jacobs and M. Karoui, 2021, Option-Based Estimation of the Price of Coskewness and Cokurtosis Risk, Journal of Financial and Quantitative Analysis 56(1), 65-91.
Rosu, I., E. Sojli, and W.W. Tham, 2021, Quoting Activity and the Cost of Capital, Journal of Financial and Quantitative Analysis, 56(8), 2764-2799.
Barillas, F., R. Kan, C. Robotti and J. Shanken, 2020, Model Comparison with Sharpe Ratios, Journal of Financial and Quantitative Analysis, 55(6), 1840-1874.
Erel, I., Y. Jang, B. Minton and M. Weisbach, 2020, Corporate Liquidity, Acquisitions, and Macroeconomic Conditions, Journal of Financial and Quantitative Analysis, 56(2), 443-474.
Fournier, M., and K. Jacobs, 2020, A Tractable Framework of Option Pricing with Dynamic Market Maker Inventory and Wealth, Journal of Financial and Quantitative Analysis 55(4), 1117-1162.
Masulis, R., C. Wang, and F. Xie, 2020, Worker-Manager Alliances and Shareholder Returns from Acquisitions, Journal of Financial and Quantitative Analysis, 55(2), 473-516.
Dai, M., L. Goncalves-Pinto, and J. Xu, 2019, How does Illiquidity Affect Delegated Portfolio Choice?, Journal of Financial and Quantitative Analysis, 54(2), 539-585.
Saxena, K., L. Zolotov and P. Kalev, 2019, Coskewness Risk Decomposition, Covariation Risk, and Intertemporal Asset Pricing, Journal of Financial and Quantitative Analysis, 54(1), 335-368.
Banerjee. S., M. Humphery-Jenner, V. Nanda and M. Tham, 2018, Executive Overconfidence and Securities Class Actions, Journal of Financial and Quantitative Analysis 53(6), 268-271.
Grinblatt, M. and K. Saxena, 2018, When Factors Don’t Span Their Basis Portfolios, Journal of Financial and Quantitative Analysis 53(6), 2335-2354.
Masulis, R., and S. Simsir, 2018, Deal Initiation in Mergers and Acquisitions, Journal of Financial and Quantitative Analysis, 53(6), 2389-2430.
Stanfield, J. and R. Tumarkin, 2018, Does the Political Power of Nonfinancial Stakeholders Affect Firm Values? Evidence from Labor Unions, Journal of Financial and Quantitative Analysis, 53 (3), 1101-1133.
Beschwitz, B., O. Chuprinin and M. Massa, 2017, Why Do Short Sellers Like Qualitative News? Journal of Financial and Quantitative Analysis, 52, 645-675.
Dang, T. V. and Z. Xu, 2017, Market Sentiment and Innovation Activities, Journal of Financial and Quantitative Analysis, 53 (3), 1135-1161.
Hatheway, F., A. Kwan, and H. Zheng, 2017, An Empirical Analysis of Market Fragmentation in U.S. Equities Markets, Journal of Financial and Quantitative Analysis 52 (6), 2399-2427.
Luong, L.H., F. Moshirian, L.H.G. Nguyen, X. Tian and B. Zhang, 2017, How Do Foreign Institutional Investors Enhance Firm Innovation? Journal of Financial and Quantitative Analysis, 52(4), 1449-1490.
Oh, N., J. Parwada and K. Tan, 2017, Should Indirect Brokerage Fees Be Capped? Lessons from Mutual Fund Marketing and Distribution Expenses, Journal of Financial and Quantitative Analysis, 52(2), 781-809.
Sojli, E., W.W. Tham, and J. Skjeltorp, 2016. Flashes of trading intent at the NASDAQ. Journal of Financial and Quantitative Analysis, 51 (1), 165-196.
Barroso, P. and P. Santa-Clara, 2015, Beyond the Carry Trade: Optimal Currency Portfolios, Journal of Financial and Quantitative Analysis, 50(5), 1037-1056.
Deng, H., F. Moshirian, P. Pham and J. Zein, 2014, Creating Value by Changing the Old Guard: The Impact of Controlling Shareholder Heterogeneity on Firm Performance and Corporate Policies, Journal of Financial and Quantitative Analysis, 48(6), 1781-1811.
Fong, K., Gallagher, D., Lee, A., 2014, Individual Investors and Broker Types, Journal of Financial and Quantitative Analysis, 49 (2), 431-451.
Gallagher, D., P. Gardner and P. Swan, 2013, Governance through Trading: Institutional Swing Trades and Subsequence Performance, Journal of Financial and Quantitative Analysis, 48(2), 427–458.
Humphery-Jenner, M., 2013, Diversification in Private Equity Funds: On Knowledge-Sharing, Risk-Aversion and Limited-Attention, Journal of Financial and Quantitative Analysis, 48 (5), 1545-1572.
Li, D., Q. Nguyen, P. Pham, and S. Wei, 2011, Large Foreign Ownership and Firm-Level Stock Return Volatility in Emerging Markets, Journal of Financial and Quantitative Analysis, 46(4), 1127–1155.
Krishnan, C.N.V., V. Ivanov, R. Masulis and A. Singh, 2011, Venture Capital Reputation, Post-IPO Performance and Corporate Governance, Journal of Financial and Quantitative Analysis, 46(5), 1295 – 1333.
Masulis, R. and R. Nahata, 2011, Venture Capital Conflicts of Interest: Evidence from Acquisitions of Venture Backed Firms, Journal of Financial and Quantitative Analysis, 46(2), 395–430.
Parwada, J., 2008, The Genesis of Home Bias? The Location and Portfolio Choices of Investment Company Start-Ups, Journal of Financial and Quantitative Analysis, 43, 245-266.
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Buhlmann, F., P. Dorrenberg, B. Loos, and J. Voget, 2024, How Do Taxes Affect the Trading Behaviour of Private Investors? Evidence from Individual Portfolio Data, Management Science, (forthcoming).
Giannetti, M., and Y. J. Jang, 2024, Who Lends Before Banking Crises? Evidence from the International Syndicated Loan Market, Management Science, (forthcoming).
Guo, L., J. Kong and R. Masulis, 2024, Do Employee Interests Affect Target Board Decisions about Acquisition Offers? Evidence from Changes in Unemployment Insurance, Management Science (forthcoming).
Lin, C., C. Ma, Y. Sun, and Y. Xu, 2024, The Allocation of Talent and Financial Development, 1897 to 1936, Management Science (forthcoming).
Masulis, R., S. Shen, and Z. Hong, 2024, Director Liability Protection and the Quality of Independent Directors, Management Science, (forthcoming).
To, T. and N. Tran, 2024, Non-Traded Sector Growth Risks and Economic Sizes in International Asset Pricing, Management Science (forthcoming).
Goldstein, M., A. Kwan and R. Philip, 2023, High-Frequency Trading Strategies, Management Science 69 (8), 4413-4434.
Chen, Y., M. Dai, L. Goncalves-Pinto, J. Xu and C. Yan, 2021, Incomplete Information and the Liquidity Premium Puzzle, Management Science, 67(9), 5703-5729.
Goncalves-Pinto, L., B. Grundy, A. Hameed, T. Heijden and Y. Zhu, 2020, Why Do Option Prices Predict Stock Returns? The Role of Price Pressure in the Stock Market, Management Science, 66(9), 3903-3926.
Masulis, R., P. Pham, and J. Zein, 2020, Family Business Group Expansion through IPOs: The Role of Internal Capital in Financing Growth while Preserving Control, Management Science, 66(11), 5191-5215.
Barillas, F. and K. Nimark, 2019, Speculation and the Bond Market: An Empirical No-Arbitrage Framework, Management Science, 65(9), 3949-4450.
Chuprinin, O., S. Gaspar and M. Massa, 2019, Adjusting to the Information Environment: News Tangibility and Mutual Fund Performance, Management Science, 65(3), 955-1453.
Maurer T., T. To and N.K. Tran, 2019, Pricing Risks Across Currency Denominations, Management Science, 65, 5308 – 5336.
Skjeltorp, J., E. Sojli, and W.W. Tham, 2018, Cross-Sided Liquidity Externalities. Management Science, 64(6), 2473-2972.
Babenko, I. and R. Sen, 2016, Do Non-executive Employees Have Valuable Information? Evidence from Employee Stock Purchase Plans, Management Science 62(7), 1878–1898.
Cen, L., S. Dasgupta and R. Sen, 2016, Discipline or Disruption? Stakeholder Relationships and the Effect of Takeover Threat, Management Science 62(10), 2820–2841.
Wang, Y., C. Wu and L. Yang, 2015, Hedging with Futures: Does Anything Beat the Naïve Hedging Strategy? Management Science, 61(12), 2870 – 2889.
Kozhan, R. and W.W. Tham, (2012). Execution Risk High-frequency Arbitrage. Management Science, 58 (11), 2131-2149.
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Germann, M., B. Loos, L. Mertes, and M. Weber, 2024, Trust and Delegated Investing: A Money Doctors Experiment, Review of Finance (forthcoming).
Maurer T., T. Tô, and, N.K. Tran, 2023, Market Timing and Predictability in FX Markets, Review of Finance, 27, 223 – 246.
Gao, J. and Y. Jang, 2021, What Drives Global Lending Syndication? Effects of Cross-country Capital Regulation Gaps, Review of Finance, 25(2), 519-559.
Bhattacharya, U., B. Loos, S. Meyer, and A. Hackethal, 2017, Abusing EFTs, Review of Finance 21, 1217-50.
Fong, K. Y., C. Holden and C. Trzcinka, 2017, What Are the Best Liquidity Proxies for Global Research?, Review of Finance, 21(4), 1355-1401 (awarded The Spängler IQAM Prize in 2018).
Disatnik, D., R. Duchin and B. Schmidt, 2013, Cash Flow Hedging and Liquidity Choices, Review of Finance, 17, 1-34.
Humphery-Jenner, M., 2012, Private Equity Fund Size, Investment Size, and Value Creation, Review of Finance, 16, 799-835.
Top Tier Economics and Statistics Journal Articles
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M. Aquilina, M., E. Budish and P. O’Neill, 2022, Quantifying the High-Frequency Trading ‘Arms Race’ Quarterly Journal of Economics 137 (1), 493-564.
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Patton, A., and A. Timmermann, 2010, Why do Forecasters Disagree? Lessons from the Term Structure of Cross-Sectional Dispersion, Journal of Monetary Economics, 57(7), 803-820.
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Barillas, F., L. Hansen and T. Sargent, 2009, Doubts or Variability? Journal of Economic Theory 144 (6), 2388-2418.
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Bollerslev, T., J. Li, A. Patton and R. Quaedvlieg, 2020, Realized Semicovariances, Econometrica, 88(4), 1515-1551.
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Romero Cortés, K., A. Glover and M. Tasci, 2022, The Unintended Consequences of Employer Credit Check Bans for Labor Markets, Review of Economics and Statistics, 104 (5): 997-1009.
Patton, A., and K. Sheppard, 2015, Good Volatility, Bad Volatility: Signed Jumps and the Persistence of Volatility, Review of Economics and Statistics, 97(3), 683-697.
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Oh, D. H., and A. Patton, 2024, Better the Devil You Know: Improved Forecasts from Imperfect Models, Journal of Econometrics, 242, 105767.
Oh, D. H., and A. Patton, 2023, Dynamic Factor Copula Models with Estimated Cluster Assignments, Journal of Econometrics, 2(C), 105374.
Bollerslev, T., M. Medeiros, A. Patton and R. Quaedvlieg, 2022, From Zero to Hero: Realized Partial (Co) Variances, Journal of Econometrics, 231(2), 348-360.
Bollerslev, T., M. Medeiros, A. Patton and R. Quaedvlieg, 2020, Multivariate Leverage Effects and Relized Semicovariance GARCH Models, Journal of Econometrics, 217, 411-430.
Patton, A., J. Ziegel and R. Chen, 2019, Dynamic Semiparametric Models for Expected Shortfall (and Value-at-Risk), Journal of Econometrics, 211(2), 388-413.
Bollerslev, T., M. Medeiros, A. Patton and R. Quaedvlieg, 2018, Modeling and Forecasting (Un)Reliable Realized Covariances for More Reliable Financial Decisions, Journal of Econometrics, 207(1), 71-91.
Li, J. and A. Patton, 2018, Asymptotic Inference about Predictive Accuracy using High Frequency Data, Journal of Econometrics, 203(2), 223-240.
Oh, D. H., and A. Patton, 2016, High-Dimensional Copula-Based Distributions with Mixed Frequency Data, Journal of Econometrics, 193, 349-366.
Bollerslev, T., M. Medeiros, A. Patton and R. Quaedvlieg, 2016, Exploiting the Errors: A Simple Approach for Improved Volatility Forecasting, Journal of Econometrics, 192, 1-18.
Sojli, E. and W.W. Tham, 2015. Divided Governments and Futures Prices. Journal of Econometrics, 187 (2), 622-633.
Patton, A., 2011, Volatility Forecast Comparison using Imperfect Volatility Proxies, Journal of Econometrics, 160(1), 246-256.
Patton, A., and A. Timmermann, 2007, Properties of Optimal Forecasts under Asymmetric Loss and Nonlinearity, Journal of Econometrics, 140(2), 884-918.
Granger, C, A. Patton and T. Terasvirta, 2006, Common Factors in Conditional Distributions for Bivariate Time Series, Journal of Econometrics, 132(1), 43-57.
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Oh, D. H., and A. Patton, 2013, Simulated Method of Moments Estimation for Copula-Based Multivariate Models, Journal of the American Statistical Association 108(502), 689-700.
Patton, A., and A. Timmermann, 2007, Testing Forecast Optimality under Unknown Loss, Journal of the American Statistical Association, 102(480), 1172-1184.
Top Tier Neuroscience and Biology Journal Articles
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Payzan-Le Nestour, E. and J. Doran, 2024, Craving Money? Evidence from the Laboratory and the Field, Science Advances 6 (2), DOI 10.1126.
Payzan-Le Nestour, E., B. Balleine, T. Berrada and J. Pearson, 2016, 'Variance After-Effects Distort Risk Perception in Humans', Current Biology, 26, 1500 – 1504.
Payzan-Le Nestour, E., 2013, The Neural Representation of Unexpected Uncertainty During Value-Based Decision Making, Neuron, 79 (1), 191-201.
Payzan-Le Nestour, E., and P. Bossaerts, 2011, Risk, Unexpected Uncertainty, and Estimation Uncertainty: Bayesian Learning in Unstable Settings, PLoS Computational Biology, 79 (1), 194-201.
Other Highly Ranked Journal Articles
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Balogh, A., D. Wright and J. Zein, 2024, Does Stakeholder Outrage Determine Executive Pay?, Forthcoming, Review of Corporate Finance Studies
Fong, K., H. Hong, M. Kacperczyk and JD. Kubik, 2022, Do Security Analysts Discipline Credit Rating Agencies?, Review of Corporate Finance Studies, 11, pp. 815 – 848
Maurer T., T. Tô and N.K. Tran, 2022, Pricing Implications of Covariances and Spreads in Currency Markets, Review of Asset Pricing Studies, 12, 336–388.
Dou, Y. and Z. Xu, 2021, Bank Lending and Corporate Innovation: Evidence from SFAS 166/167, Contemporary Accounting Research, 38, 3017 - 3052.
Payzan-LeNestour, E., L. Pradier, J. Doran, G. Nave and B. Balleine, 2021, Impact of ambient sound on risk perception in humans: neuroeconomic investigations, Scientific reports, 11, 5392
Bollerslev, T., A. Patton and W. Wang, 2016, Daily House Price Indexes: Construction, Modeling, and Longer-Run Predictions, Journal of Applied Econometrics, 31, 1005-1025.
Dai, L., J. Parwada and B. Zhang, 2015, The Governance Effect of the Media's News Dissemination Role: Evidence from Insider Trading, Journal of Accounting Research, 53(2), 331-366
Kruttli. M., A. Patton and T. Ramadorai, 2015, The Impact of Hedge Funds on Asset Markets, Review of Asset Pricing Studies, 5(2), 185-226.
Cortes, K. and J. Lerner, 2013, Bridging the Gap? Government Subsidized Lending and Access to Capital, Review of Corporate Finance Studies, 2(1), 98-128
Krishnan, CNV., and R. Masulis, 2013, Law Firm Expertise and Mergers and Acquisitions, Journal of Law and Economics, 56: (1), 189-226.
Masulis, R., C. Wang and F. Xie, 2012, Globalizing the Boardroom - The Effects of Foreign Directors on Corporate Governance and Firm Performance, Journal of Accounting and Economics, 53(3), 527-554.
Patton, A., 2012, A Review of Copula Models for Economic Time Series, Journal of Multivariate Analysis, 110, 4-18.
Ghandar, A., Z. Michalewicz, M. Schmidt, T-D. To and R. Zurbruegg, 2009, Computational Intelligence for Evolving Trading Rules, IEEE Transactions on Evolutionary Computation, 13(1), 71-86.
Masulis, R. and R. Thomas, 2009, Does Private Equity Create Wealth? The Effects of Private Equity and Derivatives on Corporate Governance, University of Chicago Law Review, 76, 219-260.