We’re using cookies, but you can turn them off in Privacy Settings. Otherwise, you are agreeing to our use of cookies. Learn more in our Privacy Policy.

Volume 77, Issue 4

Since 1945, the Financial Analysis Journal has advanced the knowledge and understanding of the practice of investment management through the publication of rigorous, peer-reviewed, practitioner-relevant research.

Financial Analysts Journal

Perspectives

Environmental, Social, and Governance Issues and the Financial Analysts Journal (0.75 PL)

Laura T. Starks

In celebration of the 75th anniversary, Laura Starks provides brief reviews of articles on ESG issues published in the journal—many before the terminology became common—reflecting on how their insights remain important today for investors’ decisions.

Research

Capital Market Liberalization and Investment Efficiency: Evidence from China (2 PL)

Liao Peng, Liguang Zhang, and Wanyi Chen

This study examines the impact of capital market liberalization in China on corporate investment efficiency. It finds that a recent reform has restrained overinvestment and improved corporate information disclosure and corporate governance.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

Index + Factors + Alpha (2 PL)

Andrew Ang, Linxi Chen, Michael Gates, and Paul D. Henderson

A new methodology determines optimal allocations of index, factors, and alpha-seeking funds by imposing priors on the information ratios of factors and alpha strategies.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

Hedge Funds vs. Alternative Risk Premia (2 PL)

Philippe Jorion

Alternative risk premia in the form of bank-provided total return swaps provide effective, cheaper, and easier-to-access hedge fund returns.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

Boosting the Equity Momentum Factor in Credit (2 PL)

Hendrik Kaufmann, Philip Messow, and Jonas Vogt

Investors can double alpha in the credit markets by using simple equity momentum strategies enhanced by applying machine learning with boosted regression trees.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

ESG Rating Disagreement and Stock Returns (2 PL)

Rajna Gibson Brandon, Philipp Krueger, and Peter Steffen Schmidt

This study examines the extent of the disagreement by different rating agencies over ESG (environmental, social, and governance) ratings. Companies with high disagreement in their ratings face higher risk premiums but better stock returns.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

Tax-Loss Harvesting: An Individual Investor’s Perspective (2 PL)

Kevin Khang, Thomas Paradise, and Joel Dickson

Tax-loss harvesting produces diverse outcomes depending on the profile of the individual investor and the return environment.

Read the article summary (0.25 PL)

Listen: Apple Podcasts | Google Podcasts | Spotify | Libsyn

*Authors can learn more about submitting to FAJ through Taylor & Francis/Routledge.