The Review of Financial Studies

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For Papers Currently Under Review

Remember to tell your colleagues about the RFS's Young Researcher Prize sponsored by JPMorgan!

News

January 4, 2009:

We want to thank all of the authors that submitted articles through the dual review process with the Utah Winter Finance Conference. One hundred percent of the decisions have now gone out. If you have not heard from us as of now something has gone wrong and you should contact the RFS. We will then try to resolve the matter.

December 24, 2008:

Last week the RFS received the reviews from the dual review submissions to the Utah Winter Finance Conference. We hope to send out decisions on or just after January 5, 2009. When decisions do go out we will post that information here in the news section. Please check it starting January 5. If you do not hear from us after we have announced that decisions have gone out please let us know.

August 21, 2008:

Announcing a New RFS Web Page Feature! The pages displaying the journal's editors and awards now contain list all current and past people and papers. Even better - they are both searchable by any number of criteria. If you find an error, a missing name or paper please contact Tricia Cushing and she will correct our records. To find these updated pages mouse over the "About the RFS" link in the navigation bar. From there go to either "Current and Past Editors" or "Awards."

Send comments regarding this web page to Matthew Spiegel.

Turnaround:
Mean: 53.67 days
Median: 48 days
Total Submissions
(since 01/05/08): 958
Acceptance Rate: 8.25%

Conference Announcements

Utah Winter Finance Conference
February 5-7, 2009
Salt Lake City, Utah
SUBMISSION DEADLINE: SEPTEMBER 19, 2008

Texas Finance Festival
April 11 and 12, 2008
Hyatt Regency Resort and Spa
Lost Pines, Texas
SUBMISSION DEADLINE: February 1

COLOR Pages!
The RFS publishes pages in color! The service fee is $600 per figure and just covers the journal's costs.

Forthcoming in the RFS

Incentives and Mutual Fund Performance: Higher Performance or Just Higher Risk Taking?
by Massimo Massa and Rajdeep Patgiri

We study the impact of contractual incentives on the performance of mutual funds. We find that high-incentive contracts induce managers to take more risk and reduce the funds’ probability of survival. Yet, funds with high-incentive contracts deliver higher risk-adjusted return, and the superior performance remains persistent. The top incentive quintile of funds outperforms the bottom quintile by 2.70% per year. Moreover, high-incentive winner funds from one year have a positive alpha of 0.41% per month in the following year. Focusing on funds’ holdings, we show that active portfolio rebalancing is the main channel through which incentives increase performance.

Contact | Yale University | Yale School of Management