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Untitled Document RFS Editors Paolo Fulghieri Michael Weisbach Raman Uppal Laura Starks Alexander Ljungqvist
For Papers Currently Under Review

 

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

News

July 17, 2008:

The RFS wishes to thank our "retiring" Associate Editors: Viral Acharya, Andrew Ang, Utpal Bhattacharya, Markus Brunnermeier, Murray Frank, and Jean Helwege for their service over the past three years.

At the same time the RFS is pleased to announce the election to three year terms as Associate Editors: Andres Almazan, Heitor Almeida, Allen Berger, Mara Faccio, Charlie Hadlock, and Gideon Saar.

July 7, 2008:

With the conclusion of the annual meeting on June 24 there is a lot to report today:

  • The RFS wishes Tobias Moskowitz all the best in his future endeavors. As of July 1 he has stepped down as editor with the conclusion of his term. Everyone at the RFS greatly appreciates the time and effort he has devoted to the journal over the past three years.
  • The RFS is pleased to welcome Alexander Ljungqvist as its newest editor. We all wish him well as he takes on this demanding job.
  • Congratulations to Stefan Nagel for winning this year's Outstanding Referee Award.
  • Congratulations to Hayong Yun who received the Young Researcher Prize for his paper, "The Choice of Corporate Liquidity and Corporate Governance."
  • The runner up for the Michael Brennan prize for the best paper in the RFS was awarded to Peter DeMarzo and Michael Fishman for their paper "Agency and Optimal Investment Dynamics." Congratulations to them as well.
  • Finally, the RFS offers it congratulations to William Goetzmann, Jonathan Ingersoll Jr., Matthew Spiegel, and Ivo Welch who received the Michael Brennan prize for their paper, "Portfolio Performance Manipulation and Manipulation-proof Performance Measures."
For information regarding voting procedures go to "About the RFS" in the navigation bar and follow the link to the FAQ page.

Send comments regarding this web page to Matthew Spiegel.



Turnaround:
Mean: 53.79 days
Median: 47 days
Total Submissions
(since 08/07/07): 823
Acceptance Rate: 10.67%

Conference Announcements

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

Utah Winter Finance Conference
February 7-9, 2008
Salt Lake City, Utah
SUBMISSION DEADLINE: OCTOBER 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

Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms
by C. Edward Fee, Charles J. Hadlock, and Joshua R. Pierce

We find a significant positive relation between a firm''s advertising spending in the United States and its contemporaneous foreign cash flow. This relation holds even after controlling for factors that should be related to the optimal level of domestic advertising, and it is stronger for subsets of firms that we expect to be relatively more financially constrained. Our evidence supports the hypothesis that there is a causal and economically substantial link between cash flow and investment spending, even for intangible investments such as advertising. Our evidence also suggests that firms have active internal capital markets in which capital is moved across geographic regions.

 

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