Search Results | The Review of Financial Studies | Oxford Academic

Skip to Main Content

Advertisement

Journals

Books

Sign in through your institution

Navbar Search Filter Mobile Enter search term Search

Issues
JEL
More Content
- Advance articles
- Editor's Choice
Submit
Purchase
About
Journals on Oxford Academic
Books on Oxford Academic

SFS Journals

Issues
JEL

All JEL Expand Expand

A - General Economics and Teaching

A1 - General Economics

A11 - Role of Economics; Role of Economists; Market for Economists

A13 - Relation of Economics to Social Values

A14 - Sociology of Economics

C - Mathematical and Quantitative Methods

C0 - General

C02 - Mathematical Methods

C1 - Econometric and Statistical Methods and Methodology: General

C10 - General

C11 - Bayesian Analysis: General

C12 - Hypothesis Testing: General

C13 - Estimation: General

C14 - Semiparametric and Nonparametric Methods: General

C15 - Statistical Simulation Methods: General

C18 - Methodological Issues: General

C2 - Single Equation Models; Single Variables

C21 - Cross-Sectional Models; Spatial Models; Treatment Effect Models; Quantile Regressions

C22 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

C23 - Panel Data Models; Spatio-temporal Models

C3 - Multiple or Simultaneous Equation Models; Multiple Variables

C32 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models

C38 - Classification Methods; Cluster Analysis; Principal Components; Factor Models

C4 - Econometric and Statistical Methods: Special Topics

C45 - Neural Networks and Related Topics

C5 - Econometric Modeling

C50 - General

C51 - Model Construction and Estimation

C52 - Model Evaluation, Validation, and Selection

C53 - Forecasting and Prediction Methods; Simulation Methods

C55 - Large Data Sets: Modeling and Analysis

C58 - Financial Econometrics

C6 - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling

C61 - Optimization Techniques; Programming Models; Dynamic Analysis

C62 - Existence and Stability Conditions of Equilibrium

C65 - Miscellaneous Mathematical Tools

C7 - Game Theory and Bargaining Theory

C70 - General

C72 - Noncooperative Games

C73 - Stochastic and Dynamic Games; Evolutionary Games; Repeated Games

C78 - Bargaining Theory; Matching Theory

C8 - Data Collection and Data Estimation Methodology; Computer Programs

C81 - Methodology for Collecting, Estimating, and Organizing Microeconomic Data; Data Access

C9 - Design of Experiments

C91 - Laboratory, Individual Behavior

C92 - Laboratory, Group Behavior

C93 - Field Experiments

D - Microeconomics

D0 - General

D03 - Behavioral Microeconomics: Underlying Principles

D1 - Household Behavior and Family Economics

D10 - General

D11 - Consumer Economics: Theory

D12 - Consumer Economics: Empirical Analysis

D14 - Household Saving; Personal Finance

D15 - Intertemporal Household Choice: Life Cycle Models and Saving

D18 - Consumer Protection

D2 - Production and Organizations

D20 - General

D21 - Firm Behavior: Theory

D22 - Firm Behavior: Empirical Analysis

D23 - Organizational Behavior; Transaction Costs; Property Rights

D24 - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

D25 - Intertemporal Firm Choice: Investment, Capacity, and Financing

D3 - Distribution

D30 - General

D31 - Personal Income, Wealth, and Their Distributions

D4 - Market Structure, Pricing, and Design

D40 - General

D43 - Oligopoly and Other Forms of Market Imperfection

D44 - Auctions

D47 - Market Design

D49 - Other

D5 - General Equilibrium and Disequilibrium

D50 - General

D51 - Exchange and Production Economies

D52 - Incomplete Markets

D53 - Financial Markets

D6 - Welfare Economics

D60 - General

D61 - Allocative Efficiency; Cost-Benefit Analysis

D62 - Externalities

D7 - Analysis of Collective Decision-Making

D70 - General

D71 - Social Choice; Clubs; Committees; Associations

D72 - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

D73 - Bureaucracy; Administrative Processes in Public Organizations; Corruption

D74 - Conflict; Conflict Resolution; Alliances; Revolutions

D78 - Positive Analysis of Policy Formulation and Implementation

D8 - Information, Knowledge, and Uncertainty

D80 - General

D81 - Criteria for Decision-Making under Risk and Uncertainty

D82 - Asymmetric and Private Information; Mechanism Design

D83 - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness

D84 - Expectations; Speculations

D85 - Network Formation and Analysis: Theory

D86 - Economics of Contract: Theory

D87 - Neuroeconomics

D9 - Micro-Based Behavioral Economics

D90 - General

D91 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

D92 - Intertemporal Firm Choice, Investment, Capacity, and Financing

E - Macroeconomics and Monetary Economics

E0 - General

E00 - General

E03 - Behavioral Macroeconomics

E1 - General Aggregative Models

E17 - Forecasting and Simulation: Models and Applications

E2 - Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy

E20 - General

E21 - Consumption; Saving; Wealth

E22 - Investment; Capital; Intangible Capital; Capacity

E23 - Production

E24 - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

E3 - Prices, Business Fluctuations, and Cycles

E30 - General

E31 - Price Level; Inflation; Deflation

E32 - Business Fluctuations; Cycles

E37 - Forecasting and Simulation: Models and Applications

E4 - Money and Interest Rates

E40 - General

E41 - Demand for Money

E42 - Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems

E43 - Interest Rates: Determination, Term Structure, and Effects

E44 - Financial Markets and the Macroeconomy

E47 - Forecasting and Simulation: Models and Applications

E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit

E50 - General

E51 - Money Supply; Credit; Money Multipliers

E52 - Monetary Policy

E58 - Central Banks and Their Policies

E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook

E60 - General

E61 - Policy Objectives; Policy Designs and Consistency; Policy Coordination

E62 - Fiscal Policy

E63 - Comparative or Joint Analysis of Fiscal and Monetary Policy; Stabilization; Treasury Policy

E64 - Incomes Policy; Price Policy

E65 - Studies of Particular Policy Episodes

E66 - General Outlook and Conditions

E7 - Macro-Based Behavioral Economics

E71 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on the Macro Economy

F - International Economics

F0 - General

F02 - International Economic Order and Integration

F1 - Trade

F14 - Empirical Studies of Trade

F2 - International Factor Movements and International Business

F21 - International Investment; Long-Term Capital Movements

F22 - International Migration

F23 - Multinational Firms; International Business

F3 - International Finance

F30 - General

F31 - Foreign Exchange

F32 - Current Account Adjustment; Short-Term Capital Movements

F33 - International Monetary Arrangements and Institutions

F34 - International Lending and Debt Problems

F36 - Financial Aspects of Economic Integration

F37 - International Finance Forecasting and Simulation: Models and Applications

F38 - International Financial Policy: Financial Transactions Tax; Capital Controls

F4 - Macroeconomic Aspects of International Trade and Finance

F40 - General

F41 - Open Economy Macroeconomics

F42 - International Policy Coordination and Transmission

F43 - Economic Growth of Open Economies

F44 - International Business Cycles

F47 - Forecasting and Simulation: Models and Applications

F5 - International Relations, National Security, and International Political Economy

F51 - International Conflicts; Negotiations; Sanctions

F6 - Economic Impacts of Globalization

F63 - Economic Development

F65 - Finance

G - Financial Economics

G0 - General

G00 - General

G01 - Financial Crises

G02 - Behavioral Finance: Underlying Principles

G1 - General Financial Markets

G10 - General

G11 - Portfolio Choice; Investment Decisions

G12 - Asset Pricing; Trading volume; Bond Interest Rates

G13 - Contingent Pricing; Futures Pricing

G14 - Information and Market Efficiency; Event Studies; Insider Trading

G15 - International Financial Markets

G17 - Financial Forecasting and Simulation

G18 - Government Policy and Regulation

G19 - Other

G2 - Financial Institutions and Services

G20 - General

G21 - Banks; Depository Institutions; Micro Finance Institutions; Mortgages

G22 - Insurance; Insurance Companies; Actuarial Studies

G23 - Non-bank Financial Institutions; Financial Instruments; Institutional Investors

G24 - Investment Banking; Venture Capital; Brokerage; Ratings and Ratings Agencies

G28 - Government Policy and Regulation

G29 - Other

G3 - Corporate Finance and Governance

G30 - General

G31 - Capital Budgeting; Fixed Investment and Inventory Studies; Capacity

G32 - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

G33 - Bankruptcy; Liquidation

G34 - Mergers; Acquisitions; Restructuring; Corporate Governance

G35 - Payout Policy

G38 - Government Policy and Regulation

G39 - Other

G4 - Behavioral Finance

G40 - General

G41 - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets

G5 - Household Finance

G50 - General

G51 - Household Saving, Borrowing, Debt, and Wealth

G52 - Insurance

G53 - Financial Literacy

H - Public Economics

H0 - General

H1 - Structure and Scope of Government

H11 - Structure, Scope, and Performance of Government

H19 - Other

H2 - Taxation, Subsidies, and Revenue

H22 - Incidence

H24 - Personal Income and Other Nonbusiness Taxes and Subsidies; includes inheritance and gift taxes

H25 - Business Taxes and Subsidies

H26 - Tax Evasion and Avoidance

H3 - Fiscal Policies and Behavior of Economic Agents

H31 - Household

H32 - Firm

H4 - Publicly Provided Goods

H40 - General

H41 - Public Goods

H5 - National Government Expenditures and Related Policies

H50 - General

H52 - Government Expenditures and Education

H53 - Government Expenditures and Welfare Programs

H54 - Infrastructures; Other Public Investment and Capital Stock

H55 - Social Security and Public Pensions

H56 - National Security and War

H57 - Procurement

H6 - National Budget, Deficit, and Debt

H63 - Debt; Debt Management; Sovereign Debt

H7 - State and Local Government; Intergovernmental Relations

H70 - General

H72 - State and Local Budget and Expenditures

H74 - State and Local Borrowing

H75 - State and Local Government: Health; Education; Welfare; Public Pensions

H8 - Miscellaneous Issues

H81 - Governmental Loans; Loan Guarantees; Credits; Grants; Bailouts

I - Health, Education, and Welfare

I1 - Health

I11 - Analysis of Health Care Markets

I12 - Health Behavior

I13 - Health Insurance, Public and Private

I14 - Health and Inequality

I18 - Government Policy; Regulation; Public Health

I2 - Education and Research Institutions

I22 - Educational Finance; Financial Aid

I23 - Higher Education; Research Institutions

I28 - Government Policy

I3 - Welfare, Well-Being, and Poverty

I30 - General

I38 - Government Policy; Provision and Effects of Welfare Programs

J - Labor and Demographic Economics

J0 - General

J00 - General

J1 - Demographic Economics

J11 - Demographic Trends, Macroeconomic Effects, and Forecasts

J12 - Marriage; Marital Dissolution; Family Structure; Domestic Abuse

J13 - Fertility; Family Planning; Child Care; Children; Youth

J15 - Economics of Minorities, Races, Indigenous Peoples, and Immigrants; Non-labor Discrimination

J16 - Economics of Gender; Non-labor Discrimination

J18 - Public Policy

J2 - Demand and Supply of Labor

J20 - General

J21 - Labor Force and Employment, Size, and Structure

J22 - Time Allocation and Labor Supply

J23 - Labor Demand

J24 - Human Capital; Skills; Occupational Choice; Labor Productivity

J26 - Retirement; Retirement Policies

J28 - Safety; Job Satisfaction; Related Public Policy

J3 - Wages, Compensation, and Labor Costs

J30 - General

J31 - Wage Level and Structure; Wage Differentials

J32 - Nonwage Labor Costs and Benefits; Retirement Plans; Private Pensions

J33 - Compensation Packages; Payment Methods

J38 - Public Policy

J4 - Particular Labor Markets

J41 - Labor Contracts

J44 - Professional Labor Markets; Occupational Licensing

J45 - Public Sector Labor Markets

J46 - Informal Labor Markets

J49 - Other

J5 - Labor-Management Relations, Trade Unions, and Collective Bargaining

J51 - Trade Unions: Objectives, Structure, and Effects

J52 - Dispute Resolution: Strikes, Arbitration, and Mediation; Collective Bargaining

J6 - Mobility, Unemployment, Vacancies, and Immigrant Workers

J61 - Geographic Labor Mobility; Immigrant Workers

J62 - Job, Occupational, and Intergenerational Mobility

J63 - Turnover; Vacancies; Layoffs

J64 - Unemployment: Models, Duration, Incidence, and Job Search

J65 - Unemployment Insurance; Severance Pay; Plant Closings

J68 - Public Policy

J7 - Labor Discrimination

J71 - Discrimination

J8 - Labor Standards: National and International

J88 - Public Policy

K - Law and Economics

K1 - Basic Areas of Law

K12 - Contract Law

K2 - Regulation and Business Law

K22 - Business and Securities Law

K23 - Regulated Industries and Administrative Law

K3 - Other Substantive Areas of Law

K31 - Labor Law

K32 - Environmental, Health, and Safety Law

K34 - Tax Law

K35 - Personal Bankruptcy Law

K4 - Legal Procedure, the Legal System, and Illegal Behavior

K42 - Illegal Behavior and the Enforcement of Law

L - Industrial Organization

L1 - Market Structure, Firm Strategy, and Market Performance

L10 - General

L11 - Production, Pricing, and Market Structure; Size Distribution of Firms

L13 - Oligopoly and Other Imperfect Markets

L14 - Transactional Relationships; Contracts and Reputation; Networks

L15 - Information and Product Quality; Standardization and Compatibility

L2 - Firm Objectives, Organization, and Behavior

L21 - Business Objectives of the Firm

L22 - Firm Organization and Market Structure

L23 - Organization of Production

L24 - Contracting Out; Joint Ventures; Technology Licensing

L25 - Firm Performance: Size, Diversification, and Scope

L26 - Entrepreneurship

L29 - Other

L3 - Nonprofit Organizations and Public Enterprise

L33 - Comparison of Public and Private Enterprises and Nonprofit Institutions; Privatization; Contracting Out

L4 - Antitrust Issues and Policies

L43 - Legal Monopolies and Regulation or Deregulation

L44 - Antitrust Policy and Public Enterprises, Nonprofit Institutions, and Professional Organizations

L5 - Regulation and Industrial Policy

L51 - Economics of Regulation

L6 - Industry Studies: Manufacturing

L66 - Food; Beverages; Cosmetics; Tobacco; Wine and Spirits

L8 - Industry Studies: Services

L81 - Retail and Wholesale Trade; e-Commerce

L85 - Real Estate Services

L86 - Information and Internet Services; Computer Software

L9 - Industry Studies: Transportation and Utilities

L92 - Railroads and Other Surface Transportation

L94 - Electric Utilities

M - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics

M0 - General

M00 - General

M1 - Business Administration

M12 - Personnel Management; Executives; Executive Compensation

M13 - New Firms; Startups

M14 - Corporate Culture; Social Responsibility

M16 - International Business Administration

M2 - Business Economics

M20 - General

M21 - Business Economics

M3 - Marketing and Advertising

M30 - General

M31 - Marketing

M37 - Advertising

M4 - Accounting and Auditing

M40 - General

M41 - Accounting

M42 - Auditing

M48 - Government Policy and Regulation

M5 - Personnel Economics

M51 - Firm Employment Decisions; Promotions

M52 - Compensation and Compensation Methods and Their Effects

M54 - Labor Management

N - Economic History

N1 - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations

N10 - General, International, or Comparative

N12 - U.S.; Canada: 1913-

N2 - Financial Markets and Institutions

N20 - General, International, or Comparative

N21 - U.S.; Canada: Pre-1913

N22 - U.S.; Canada: 1913-

N23 - Europe: Pre-1913

N24 - Europe: 1913-

N25 - Asia including Middle East

N27 - Africa; Oceania

N3 - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy

N32 - U.S.; Canada: 1913-

N4 - Government, War, Law, International Relations, and Regulation

N43 - Europe: Pre-1913

N7 - Transport, Trade, Energy, Technology, and Other Services

N71 - U.S.; Canada: Pre-1913

N8 - Micro-Business History

N80 - General, International, or Comparative

N82 - U.S.; Canada: 1913-

O - Economic Development, Innovation, Technological Change, and Growth

O1 - Economic Development

O11 - Macroeconomic Analyses of Economic Development

O12 - Microeconomic Analyses of Economic Development

O13 - Agriculture; Natural Resources; Energy; Environment; Other Primary Products

O16 - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance

O17 - Formal and Informal Sectors; Shadow Economy; Institutional Arrangements

O2 - Development Planning and Policy

O23 - Fiscal and Monetary Policy in Development

O3 - Innovation; Research and Development; Technological Change; Intellectual Property Rights

O30 - General

O31 - Innovation and Invention: Processes and Incentives

O32 - Management of Technological Innovation and R&D

O33 - Technological Change: Choices and Consequences; Diffusion Processes

O34 - Intellectual Property and Intellectual Capital

O35 - Social Innovation

O38 - Government Policy

O4 - Economic Growth and Aggregate Productivity

O40 - General

O43 - Institutions and Growth

O5 - Economywide Country Studies

O53 - Asia including Middle East

P - Economic Systems

P1 - Capitalist Systems

P16 - Political Economy

P18 - Energy: Environment

P2 - Socialist Systems and Transitional Economies

P26 - Political Economy; Property Rights

P3 - Socialist Institutions and Their Transitions

P31 - Socialist Enterprises and Their Transitions

P34 - Financial Economics

P39 - Other

P4 - Other Economic Systems

P43 - Public Economics; Financial Economics

P48 - Political Economy; Legal Institutions; Property Rights; Natural Resources; Energy; Environment; Regional Studies

Q - Agricultural and Natural Resource Economics; Environmental and Ecological Economics

Q0 - General

Q02 - Commodity Markets

Q3 - Nonrenewable Resources and Conservation

Q31 - Demand and Supply; Prices

Q32 - Exhaustible Resources and Economic Development

Q4 - Energy

Q40 - General

Q41 - Demand and Supply; Prices

Q42 - Alternative Energy Sources

Q43 - Energy and the Macroeconomy

Q5 - Environmental Economics

Q50 - General

Q51 - Valuation of Environmental Effects

Q53 - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling

Q54 - Climate; Natural Disasters; Global Warming

Q56 - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

R - Urban, Rural, Regional, Real Estate, and Transportation Economics

R0 - General

R00 - General

R1 - General Regional Economics

R10 - General

R11 - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

R12 - Size and Spatial Distributions of Regional Economic Activity

R2 - Household Analysis

R20 - General

R21 - Housing Demand

R23 - Regional Migration; Regional Labor Markets; Population; Neighborhood Characteristics

R3 - Real Estate Markets, Spatial Production Analysis, and Firm Location

R30 - General

R31 - Housing Supply and Markets

R32 - Other Spatial Production and Pricing Analysis

R33 - Nonagricultural and Nonresidential Real Estate Markets

R38 - Government Policy

R4 - Transportation Economics

R41 - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise

R5 - Regional Government Analysis

R51 - Finance in Urban and Rural Economies

Z - Other Special Topics

Z1 - Cultural Economics; Economic Sociology; Economic Anthropology

Z11 - Economics of the Arts and Literature

Z13 - Economic Sociology; Economic Anthropology; Social and Economic Stratification

Browse all content Browse content in
More Content
- Advance articles
- Editor's Choice
Submit
Purchase
About

Close

Navbar Search Filter Enter search term Search

Advanced Search

AI Discovery Assistant

Skip to results

Modify your search

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Select the operation between terms

AND

OR

NOT

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Select the operation between terms

AND

OR

NOT

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Select the operation between terms

AND

OR

NOT

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Select the operation between terms

AND

OR

NOT

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Select the operation between terms

AND

OR

NOT

Edit your search term, change scope of search Enter search term

Full Text Keywords Title Author/Editor/ORCiD Abstract References/Bibliography

Availability

Availability

All content I have access to

Purchased
Free

NARROW

Format

Facet list

Journal Article (1)

Type

Facet list

Research Article (1)

Section

Find a Section

The list will update as you type

Facet list

Articles (1)

Publication date

Date Range

Published
Updated

Date range

Single date

From Select month

To Select month

Publication date

1-1 of 1

JEL: C02 - Mathematical Methods

Save search

Follow your search

Access your saved searches in your account

saved search image

Name your search

Follow this search

Would you like to receive an alert when new items match your search?

Save search

Sort by

Sort Order Select

Journal Article

Microstructure in the Machine Age Get access

PDF

David Easley and others

The Review of Financial Studies, Volume 34, Issue 7, July 2021, Pages 3316–3363, https://doi.org/10.1093/rfs/hhaa078

Published: 07 July 2020

Supplementary data

Advertisement

Email alerts

New journal issues

New journal articles

Sign up for marketing

Perform this search in

Journals Journals

Books Books

SFS Journals SFS Journals

Oxford Academic Oxford Academic

Advertisement

Advertisement

Advertisement

About The Review of Financial Studies
Editorial Board
Author Guidelines
Contact Us
Facebook

X (formerly Twitter)
Purchase
Recommend to your Library
Advertising and Corporate Services
Journals Career Network

Online ISSN 1465-7368
Print ISSN 0893-9454
Copyright © 2025 Society for Financial Studies

About Oxford Academic
Publish journals with us
University press partners
What we publish
New features

For authors
Open access
Purchasing
Institutional account management
Rights and permissions

Get help with access
Accessibility
Contact us
Advertising
Media enquiries

Oxford University Press
News
Oxford Languages
University of Oxford

Oxford University Press is a department of the University of Oxford. It furthers the University's objective of excellence in research, scholarship, and education by publishing worldwide

Copyright © 2025 Oxford University Press
Cookie policy
Privacy policy
Legal notice

Close

This Feature Is Available To Subscribers Only

Sign In or Create an Account

Close

This PDF is available to Subscribers Only

View Article Abstract & Purchase Options

For full access to this pdf, sign in to an existing account, or purchase an annual subscription.

Close