Society for Financial Studies


March 30, 2015: Cornerstone Research and the RFS

We are pleased to announce that Cornerstone Research has pledged to continue their support for the Referee of the Year and Distinguished Referee Awards for 2015.  The Review of Financial Studies is grateful to Cornerstone Research, who have been supporting these awards since 2010. The awards will be presented at Cavalcade 2015.

To see past award winners, visit RFS Awards.

March 27, 2015: Research Affiliates and the RFS

The Review of Financial Studies is pleased to announce the continued support of Research Affiliates for the Michael J. Brennan Best Paper Award and the Rising Researcher Prize. We are grateful to Research Affiliates for their continued support. The awards will be presented at Cavalcade 2015.

To see past award winners, visit RFS Awards.

March 24, 2015: Final Week for Early Registration

Register for the Cavalcade by March 31 to pay the early registration fee of $100 for SFS members or $140 for nonmembers. Registration fees increase on April 1! Register online at Cavalcade 2015.

March 6, 2015: Cavalcade 2015 Program Now Available

The program for Cavalcade 2015 is now available. Check it out on the Cavalcade 2015 web site!

March 2, 2015: Editor’s Choice: March

The March 2015 issue of RFS (28/3) features two Editor’s Choice papers:

Editorial: Cosmetic Surgery in the Academic Review Process” by David Hirshleifer


Digesting Anomalies: An Investment Approach” by Kewei HouChen Xueand Lu Zhang. “Digesting Anomalies” is also featured in a corresponding post on the OUP Blog.

You can read both papers for free online by clicking on their titles in this post, or by visiting RFS Editor’s Choice.

February 18, 2015: Registration is Now Open for Cavalcade 2015

You can now register online for the 2015 SFS Finance Cavalcade, which will take place May 17-20, 2015, at the Scheller College of Business at Georgia Tech. Early registration will be $100 for members and $140 for nonmembers. Beginning April 1, the registration rate will increase to $125 for members and $165 for nonmembers. The registration fee will be waived for doctoral students and Georgia Tech faculty. To register, visit the Cavalcade 2015 web site.

February 13, 2015: Forthcoming Book by Andrew Karolyi

Congratulations to RFS Executive Editor Andrew Karolyi on the publication of his book, “Cracking the Emerging Markets Enigma.” The book will be available in May. For more, visit the publisher’s web site here.

February 3, 2015: Executive Editor Blog: Wherefore Art Thou (Corporate) Peer?

The newest installment on Andrew Karolyi’s Executive Editor blog is now available. This month’s feature, “Wherefore Art Thou (Corporate) Peer?” examines “Strategic Investment and Industry Risk Dynamics” by M. Cecilia Bustamante. Visit the RFS Executive Editor Blog to read the post.

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.

Forthcoming in the RFS

Regression Discontinuity and the Price Effects of Stock Market Indexing

by Yen-Cheng Chang, Harrison Hong, Inessa Liskovich
The Russell 1000 and 2000 stock indexes comprise the first 1000 and next 2000 largest firms ranked by market capitalization. Small changes in the capitalizations of firms ranked near 1000 move them between these indexes. Because the indexes are value-weighted, more money tracks the largest stocks in the Russell 2000 than the smallest in the Russell 1000. Using this discontinuity, we find that additions to the Russell 2000 result in price increases and deletions result in price declines. We then identify time trends in indexing effects and the types of funds that provide liquidity to indexers.