Perspectives
Environmental, Social, and Governance Issues and the Financial Analysts Journal (0.75 PL)
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)
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.
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Index + Factors + Alpha (2 PL)
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.
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Hedge Funds vs. Alternative Risk Premia (2 PL)
Alternative risk premia in the form of bank-provided total return swaps provide effective, cheaper, and easier-to-access hedge fund returns.
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Boosting the Equity Momentum Factor in Credit (2 PL)
Investors can double alpha in the credit markets by using simple equity momentum strategies enhanced by applying machine learning with boosted regression trees.
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ESG Rating Disagreement and Stock Returns (2 PL)
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.
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Tax-Loss Harvesting: An Individual Investor’s Perspective (2 PL)
Tax-loss harvesting produces diverse outcomes depending on the profile of the individual investor and the return environment.
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Journal Access
Browse and search topics and authors in the Financial Analysts Journal going back to 1945 on Taylor & Francis/Routledge.
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