--- name: journal-of-financial-economics description: Use when targeting Journal of Financial Economics (JFE) or deciding whether a finance manuscript fits this venue. Encodes the journal's fit, framing, method-and-evidence bar, house style, official-submission re-check, and desk-reject heuristics. --- # Journal of Financial Economics (journal-of-financial-economics) ## Journal positioning The Journal of Financial Economics is an Elsevier journal and, with JF and RFS, one of the finance "top-3." It publishes the most consequential empirical and theoretical work across asset pricing, corporate finance, banking/intermediation, and household finance, with a long-standing reputation for quantitatively serious, often structural, analysis and an unusually high robustness-and-identification bar. The readership is the whole finance profession, so a paper must clear a top-3 importance threshold and not merely a field-journal one. This skill is a **fit / venue-selection / re-framing** tool. It does not replace the journal's current official submission guidelines. Before submitting, re-check the live author instructions on the Elsevier / JFE site and the editorial submission system. ## When to trigger - The author names JFE (or the finance top-3) as the target venue. - A finance paper has a tight research design, a structural model, or a genuinely new asset-pricing/corporate-finance result, and the author is choosing among JF / JFE / RFS. - An applied paper using financial data needs re-framing into a finance contribution rather than an economics or accounting one. - The author needs JFE's desk-reject risks and a credible top-3 / top-field alternative list. ## Scope & topic fit - Asset pricing (empirical and theoretical), cross-section of returns, factor models, intermediary and macro-finance asset pricing — with a very high bar for "new factor / new anomaly" claims. - Corporate finance, governance, M&A, capital structure, payout, ownership, with credible identification. - Financial intermediation, banking, liquidity, market microstructure, household and behavioral finance. - Structural and quantitative work where a model is estimated or calibrated and confronted with data. ## Method & evidence bar - JFE is known for a demanding robustness-and-identification bar: a corporate-finance causal claim needs a real source of variation (shocks, regulation, discontinuities) with modern DiD/IV/RDD rigor and pre-empted confounders. - Asset-pricing empirics are held to current inference standards (multiple-testing/p-hacking concerns, proper standard errors, factor-zoo skepticism, out-of-sample and placebo evidence). - Structural papers must identify their parameters, justify functional-form and calibration choices, and report fit and counterfactuals credibly. - Theory must deliver testable, economically interpretable implications, not only existence results. ## Structure & house style - The introduction states the question, the economic mechanism, the identification or model, and the headline magnitude early, and explains why it matters for finance broadly. - Distinguish the contribution from the nearest JF/JFE/RFS papers explicitly; "no one has tested X" is not a contribution. - JFE uses an unstructured abstract and JEL codes; an Internet Appendix carries robustness, derivations, and secondary results. - Exhibits report economic magnitudes (not only t-stats); the central result should be readable from one table or one figure. ## Official-submission checklist - Before giving submission-ready advice, read `../../resources/source-basis.md` and `../../resources/official-source-map.md`; start from the official source anchors for this journal family, then cite the current journal-specific page you checked. - Search the live site for "Journal of Financial Economics guide for authors" and follow the current Elsevier/JFE version. - Re-check the submission fee, formatting, abstract/JEL, anonymization, and the disclosure policy (data sources, conflicts, prior circulation). - Re-check the current data/code and Internet Appendix requirements and any replication expectations. - If the live official instructions conflict with this skill, the official instructions win. ## Pre-submission self-check - [ ] One sentence stating why this result matters to the broad finance profession. - [ ] The contribution is stated as mechanism / identification / structural insight / new measurement, not as a significant coefficient. - [ ] The introduction positions the paper against the most recent JF/JFE/RFS work on this question. - [ ] Inference is robust to current standards (clustering, multiple testing, out-of-sample, placebo) and any structural estimation is identified. - [ ] Disclosure, data sources, and the Internet Appendix are ready. ## Common desk-reject triggers - A "new anomaly / new factor" paper that does not clear the multiple-testing and robustness bar. - A corporate-finance regression with endogeneity and no credible source of variation. - A structural model that is calibrated arbitrarily or not confronted with data. - A paper that is really accounting (`the-accounting-review`, `journal-of-accounting-and-economics`) or economics (`journal-of-political-economy`) framed as finance. ## Re-routing decision - Equally strong but more methodologically innovative / theory-forward → `review-of-financial-studies`; broad top-3 importance → `journal-of-finance`. - Second-tier-elite finance → `review-of-finance`, `journal-of-financial-and-quantitative-analysis`, `journal-of-corporate-finance`. - Banking/intermediation, markets, or international → `journal-of-financial-intermediation`, `journal-of-financial-markets`, `journal-of-international-money-and-finance`; large-volume applied → `journal-of-banking-and-finance`. - Pure quantitative/derivatives theory → `mathematical-finance`; econometrics-of-finance methods → `journal-of-empirical-finance`; macro-finance → `journal-of-monetary-economics`. ## Output format ```text [Fit] High / Medium / Low (one-line reason) [Target] Journal of Financial Economics [Topic tags] <2–3 closest topics> [Method/evidence] [Top risk] [Official items to re-check] [Re-route suggestion] ```