Society for Financial Studies

News

January 26, 2015: New Guide: Best Practices

We’ve made an addition to the RFS web site by adding a Best Practices page, which includes helpful guides for professional best practices. We see this guide as a living document that will be updated with new editorials, articles, and presentations whenever appropriate. For more, visit Best Practices.

January 21, 2015: Submission Deadline Approaching for Fourth Symposium on Emerging Financial Markets: China and Beyond

The submission deadline for the Fourth Symposium for Emerging Financial Markets: China and Beyond is January 31, 2015. For more information, visit the Call for Papers.

January 17, 2015: Editor’s Choice: February

The Editor’s Choice article for February 2015 (issue 28/2) is “Strategic Investment and Industry Risk Dynamics” by M. Cecilia Bustamante. You can read the article free online here.

January 7, 2015: Conference on Entrepreneurial Finance and Innovation Around the World

The Conference on Entrepreneurial Finance and Innovation Around the World will feature a dual submission option with RFS. The RFS sponsoring editor is Andrew Karolyi. The deadline for paper submission is March 1, 2015. The conference will take place June 27-28, 2015. The Call for Papers may be viewed here.

December 17, 2014: Editor’s Choice: January

The Editor’s Choice article for January 2015 (issue 28/1) is “The Sum of All FEARS Investor Sentiment and Asset Prices” by Zhi Da, Joseph Engelberg, and Pengjie Gao. You can read the article free online here.

December 16, 2014: Miami Behavioral Finance Conference Dual Submissions with RFS

If you requested dual submission with RFS for your submission to the 2014 Miami Behavioral Finance Conference, you should have received a decision email on November 11. If you have not received your decision email, please contact Jaclyn Einstein.

December 9, 2014: 17th Annual Texas Finance Festival

The 17th Annual Texas Finance Festival will feature a dual submission option with RFS. The RFS sponsoring editor is Itay Goldstein. The deadline for paper submissions is January 15, 2015. The conference will take place April 23-25, 2015. The Call for Papers may be viewed here.

December 5, 2014: LaTeX Programmer

We’re looking to hire an experienced LaTeX programmer to help with our style files. If you are interested or know someone who is, please have them contact Jaclyn Einstein.

December 1, 2014: Cavalcade 2015 Submission Deadline Approaching

There is only one week left to submit your paper to Cavalcade 2015! The deadline for submissions is midnight PST December 8, 2014. To submit, visit Cavalcade 2015.

November 24, 2014: Itay Goldstein in The Financial Times

RFS Editor Itay Goldstein is mentioned in a recent article in The Financial Times. You can read the article at “Why a house-price bubble means trouble.”

Forthcoming in the RFS

Labor Protection and Leverage

by Elena Simintzi, Vikrant Vig, Paolo Volpin
This paper exploits intertemporal variations in employment protection across countries and finds that rigidities in labor markets are an important determinant of firms' capital structure decisions. Over the 1985–2007 period, we find that reforms increasing employment protection are associated with a 187 basis point reduction in leverage. We interpret this finding to suggest that employment protection increases operating leverage, crowding out financial leverage. This result does not appear to be due to pretreatment differences between treated and control firms, omitted variables, unobserved changes in regional economic conditions, and reverse causality. Heterogeneous treatment effects are consistent with our economic intuition.