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The Review of Financial Studies

Volume 38 · Issue 12

Dec 1, 20258 articles

Anticipatory Trading Against Distressed Mega Hedge Funds

Vikas Agarwal · George O Aragon · Vikram Nanda · Kelsey Wei

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Dec 1, 2025pp. 3626-3672DOI: 10.1093/rfs/hhaf082 ↗

Continuous-Time Fama-MacBeth Regressions

Yacine Aït-Sahalia · Jean Jacod · Dacheng Xiu

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Dec 1, 2025pp. 3542-3579DOI: 10.1093/rfs/hhaf072 ↗

Investor Sentiment and the Pricing of Characteristics-Based Factors

Zhuo Chen · Bibo Liu · Huijun Wang · Zhengwei Wang · Jianfeng Yu

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Dec 1, 2025pp. 3580-3625DOI: 10.1093/rfs/hhaf053 ↗

Man versus Machine Learning Revisited

Yingguang Zhang · Yandi Zhu · Juhani T Linnainmaa

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Dec 1, 2025pp. 3768-3790DOI: 10.1093/rfs/hhaf066 ↗

Passive Investing and the Rise of Mega-Firms

Hao Jiang · Dimitri Vayanos · Lu Zheng

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Dec 1, 2025pp. 3461-3496DOI: 10.1093/rfs/hhaf085 ↗

Short-Term Reversals and Longer-Term Momentum around the World: Theory and Evidence

Narasimhan Jegadeesh · Jiang Luo · Avanidhar Subrahmanyam · Sheridan Titman

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Dec 1, 2025pp. 3673-3728DOI: 10.1093/rfs/hhaf057 ↗

Why Do Investors Like Short-leg Securities? Evidence from a Textual Analysis of Buy Recommendations

Hailiang Chen · Byoung-Hyoun Hwang · Zhuozhen Peng

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Dec 1, 2025pp. 3729-3767DOI: 10.1093/rfs/hhaf068 ↗

Π-CAPM: The Classical CAPM with Probability Weighting and Skewed Assets

Joost Driessen · Sebastian Ebert · Joren Koëter

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Dec 1, 2025pp. 3497-3541DOI: 10.1093/rfs/hhaf045 ↗