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Journal of Economics and Finance

Journal of Economics and Finance OnlineFirst articles


U.S. Small Business Administration loans and U.S. state-level employment

This study examines the relationship between the U.S. Small Business Administration’s (SBA) lending programs and state-level employment from the early 1990s to 2013 using quarterly panel data for U.S. states with fixed effects. The results show a …


Do directional predictions of US gasoline prices reveal asymmetries?

This study employs a directional forecasting approach to re-examine the possible “rockets and feathers” effect, using monthly crude oil and US retail gasoline prices for 1986–2018. We show that, for 1986–1999 (2000–2018), changes in crude oil …


Stock returns and investor sentiment: textual analysis and social media

The behavioral finance literature has found that investor sentiment has predictive ability for equity returns. This differs from standard finance theory, which provides no role for investor sentiment. We examine the relationship between investor …


Firm size proxies and the value relevance of predictive stock return models

This paper investigates differences in value relevance of predictive stock return models depending on which firm size proxy (or proxies) is used, these being market value (MV), total book assets (TBA) and market value of total book assets (MVTA).


The intra-industry effects of proxy contests

In this study, we examine the intra-industry effect of proxy contests. Proxy contests convey the information of common industrial risks or expected competitive relationship change. We find significant negative abnormal returns in the group of …

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The Journal of Economics and Finance is the official journal of the Academy of Economics and Finance. It publishes theoretical and empirical research papers in economics and finance and related fields, such as decision sciences, marketing and accounting. Its primary focus is on empirical studies with an emphasis on the policy relevance of the findings.

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