Society for Financial Studies


October 29, 2014: Recent Keynote Speech by RFS Associate Editor

RFS Associate Editor Thierry Foucault was recently a keynote speaker at the 13th International Conference on Credit Risk Evaluation.

October 28, 2014: AQR Insight Award Call for Papers

AQR Capital Management, LLC is accepting submissions for its fourth annual AQR Insight Award, which recognizes and rewards important, unpublished academic papers that best address challenges facing institutional investors. Up to three papers will share a $100,000 prize. Deadline for entries is January 15, 2015. Learn more at 2015 AQR Insight Award Call for Papers or at AQR Insight Award.

October 9, 2014: Upcoming Keynote Speeches

RFS Executive Editor Andrew Karolyi will be the keynote speaker at the 3rd Luxembourg Asset Management Summit, November 16-18, 2014. For more, click here.

RFS Executive Editor Andrew Karolyi, Editor Geert Bekaert, and Associate Editor John Griffin will be keynote speakers at the 27th Australasian Finance and Banking Conference in Sydney on December 15, 2014. For more, click here.

October 1, 2014: Editor’s Choice: November

The Editor’s Choice article for November 2014 (issue 27/11) is “Fooling Some of the People All of the Time: The Inefficient Performance and Persistence of Commodity Trading Advisors” by Geetesh Bhardwaj, Gary B. Gorton, and K. Geert Rouwenhorst. You can read the article free online here.

September 26, 2014: Executive Editor Blog: Tail Risk is Not Crash Risk…or Is It?

The second installment of Executive Editor Andrew Karolyi’s new series of editorials is available online at RFS Executive Editor Blog. This month’s feature, “Tail Risk is Not Crash Risk…or Is It?” examines “Tail Risk and Asset Prices” by Bryan Kelly and Hao Jiang.

September 22, 2014: Sign Up for RFS Alerts

Did you know you can sign up to receive email notifications every time an issue ofRFS publishes online or an RFS article publishes on Advance Access? It’s easy! Create a free account at our publisher’s web site and select the items you’d like to be notified about.

September 19, 2014: 2015 OU Energy Finance Research Conference

The 2015 OU Energy Finance Research Conference will feature a dual submission option with RFS. The RFS sponsoring editor is Philip Strahan. The paper submission period will be January 1-March 16, 2015. The conference will take place September 10-11, 2015.

September 17, 2014: Bid Deadline for 2016 Cavalcade Approaching

The bid deadline for the 2016 Cavalcade is approaching. For details on how to bid, please visit 2016 Cavalcade. Bids should be received by October 1, 2014.

September 16, 2014: Editor’s Choice: October

The Editor’s Choice article for October 2014 (issue 27/10) is “Tail Risk and Asset Prices” by Bryan Kelly and Hao Jiang. You can read the article free online here.

September 15, 2014: Do You Want to Receive the SFS Newsletter?

Are you interested in receiving the Society for Financial Studies newsletter, with news about The Review of Financial Studies, The Review of Asset Pricing Studies,  The Review of Corporate Finance Studies, and the SFS Finance Cavalcade conference? If so, find out how to become a member of the SFS at Membership.

Forthcoming in the RFS

Money Left on the Table: An Analysis of Participation in Employee Stock Purchase Plans*

by Ilona Babenko, Rik Sen
We analyze participation decisions in employee stock purchase plans. These plans allow employees to buy company stock at a discount from the market price and resell it immediately for a sure profit. Although an average employee stands to gain $3,079 annually, only 30% of individuals take advantage of this risk-free opportunity. Participation is more likely among employees who are familiar with stocks, are more educated, are less financially unconstrained, and make fewer errors in valuing financial securities. Our results suggest that compensation plans requiring active decisions by individuals can result in poor financial outcomes for employees of lower socioeconomic status.