The Review of Financial Studies

Executive Editor: Matthew Spiegel ♦ Editors: Geert Bekaert, Andrew Karolyi, Alexander Ljungqvist, Laura Starks, Pietro Veronesi, Michael Weisbach

For Papers Currently Under Review

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News

August 13, 2010:

The RFS is pleased to welcome our newest assistant editor Erin Schwartz! We are confident she will do an excellent job and wish her every success as she starts her new position.

August 12, 2010:

The RFS is pleased to welcome our newest editor Andrew Karolyi! We are confident he will do an excellent job and wish him every success as he starts his term.

August 4, 2010:

Next year the SFS will launch its first ever week long Finance Cavalcade. Our goal is to provide a setting that produces the kind of participation you see at smaller conferences but yet accommodates the variety of papers you find at the larger ones. As currently envisioned the conference will run from Monday May 23 to Friday May 27. The early days will be devoted to corporate finance papers and the latter ones to those in asset pricing. This conference is a joint project of the Review of Financial Studies, the Review of Corporate Finance Studies, and the Review of Asset Pricing Studies. We are now soliciting bids from schools that are interested in acting as hosts. At a minimum, bids must include classroom commitments for the entire week as well as projectors and other equipment necessary to facilitate presentations. If you are interested in either submitting a proposal or obtaining additional information contact either Matthew Spiegel, Paolo Fulghieri, or Wayne Ferson.

July 29, 2010:

The RFS is looking to add freelance technical paper copy editors. If you know somebody in the area please contact Matthew Spiegel.

Send comments regarding this web page to Matthew Spiegel.

Turnaround:
Mean: 55.49 days
Median: 50 days
Total Submissions
(since 09/03/09): 1184
Acceptance Rate: 7.52%

Conference Announcements
6th NY Fed/NYU Stern Conference On Financial Intermediation
November 4-5, 2010
Federal Reserve Bank of New York
New York, NY
SUBMISSION DEADLINE: July 30, 2010

Information, Liquidity and Trust in Incomplete Financial Markets
October 11-13, 2010
Freiburg University
Freiburg Germany
SUBMISSION DEADLINE: June 25, 2010

COLOR Pages!
The RFS publishes pages in color! You can include figures for free in the PDF files posted at Oxford University's web page Advanced Access. If you want some or all of the figures to appear in color in the printed version as well there is a service fee of $600 per figure. This just covers the journal's costs.

Forthcoming in the RFS

Excess Comovement in International Equity Markets: Evidence from Cross-border Mergers
by Richard A. Brealey, Ian A. Cooper, and Evi Kaplanis

Using a large sample of cross-border mergers, we measure the effect of a change in location on systematic risk. When a target firm’s location moves, a large part of its systematic risk switches from being related to its home equity market to that of the acquirer. On average, the change in betas is equivalent to an excess shift of about 0.5 in the target’s beta from its home market to that of the acquirer. We test whether the change in systematic risk can be explained by fundamental factors related to changes in the operations of the firm or merger synergy and find that it cannot.

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