In this fifth article in the Economists’ Hubris series, we investigate the practical applications of eight papers that won best-article awards in 2008 and 2009 from the Journal of Finance or the Journal of Financial Economics, the two leading journals in finance. We find that these articles...

During the past decade or so, financial institutions have been facing some of the most challenging times in their history. The world has become a much more open place, with competition coming from many sources that were of no great significance previously. Information is available freely and...