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Executive Editor: Matthew Spiegel ♦ Editors: Geert Bekaert, Paolo Fulghieri, Alexander Ljungqvist, Laura Starks, Pietro Veronesi, Michael Weisbach
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News

December 28, 2009:

All of the decision letters for the Utah Winter Finance Conference dual submission papers have now gone out. If you are expecting to receive one and have not then please contact Matthew Spiegel at your earliest convenience.

December 8, 2009:

The Utah Winter Finance Conference reviews have been forwarded to the RFS. We hope to have decisions out prior to the New Year. Unfortunately, at this point that cannot be guaranteed. The editor in charge of the reviews, Matthew Spiegel, will soon be on the road for two weeks. But he has promised to work on processing the 100+ submissions from the conference as quickly as possible.

November 3, 2009:

The RFS is pleased to announce the RFS Mini Issue! Too many emails in your inbox? With mini issues you receive a printed copy of each issue’s Table of Contents (TOC) and abstracts delivered right to your door! Subscribe today and save!

Subscriptions to receive RFS Mini Issues through 2010 are available at an introductory rate of: $15 (Americas); €10 (Europe except UK); £8 (all other countries) until the end of 2009. Normal rates are $35/€25/£20.Subscribe by clicking this link!

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Turnaround:
Mean: 59.33 days
Median: 52 days
Total Submissions
(since 02/09/09): 1081
Acceptance Rate: 3.7%

Conference Announcements
Entrepreneurial Finance and Innovation Conference
June 14-15, 2010
The Inn at Harvard
Boston, MA
SUBMISSION DEADLINE: March 15

Texas Finance Festival
April 30 - May 1, 2010
AT&T Executive Education and Conference Center
Austin, TX
SUBMISSION DEADLINE: February 1, 2010


COLOR Pages!
The RFS publishes pages in color! You can include figures for free in the PDF files posted at Oxford University's web page Advanced Access. If you want some or all of the figures to appear in color in the printed version as well there is a service fee of $600 per figure. This just covers the journal's costs.
Forthcoming in the RFS

Empire-Building or Bridge-Building? Evidence from New CEOs’ Internal Capital Allocation Decisions
by Yuhai Xuan

This article investigates how the job histories of CEOs influence their capital allocation decisions when they preside over multidivisional firms. I find that, after CEO turnover, divisions not previously affiliated with the new CEO receive significantly more capital expenditures than divisions through which the new CEO has advanced. The pattern of reverse-favoritism in capital allocation is more pronounced if the new CEO has less authority or if the unaffiliated divisions have more bargaining power. I find evidence that having a specialist CEO negatively affects segment investment efficiency. The results suggest that new specialist CEOs use the capital budget as a bridge-building tool to elicit cooperation from powerful divisional managers in previously unaffiliated divisions.

 

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