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Is There A Replication Crisis In Finance?

Citations

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Cited by:

  1. Hollstein, Fabian, 2022. "The world of anomalies: Smaller than we think?," Journal of International Money and Finance, Elsevier, vol. 129(C).
  2. Chiah, Mardy & Long, Huaigang & Zaremba, Adam & Umar, Zaghum, 2023. "Trade competitiveness and the aggregate returns in global stock markets," Journal of Economic Dynamics and Control, Elsevier, vol. 148(C).
  3. Liu, Weiyi & Zhang, Huachen & Wan, Die, 2026. "Overlapping factor momentum," Finance Research Letters, Elsevier, vol. 90(C).
  4. Nathan Lassance & Alberto Martín-Utrera & Majeed Simaan, 2024. "The Risk of Expected Utility Under Parameter Uncertainty," Management Science, INFORMS, vol. 70(11), pages 7644-7663, November.
  5. Guillaume Coqueret, 2023. "Forking paths in financial economics," Papers 2401.08606, arXiv.org.
  6. Tulsyan, Divya P. & Joshipura, Mayank & Mishra, Anil V., 2025. "Does profitability explain the low-risk anomaly in India?," The Quarterly Review of Economics and Finance, Elsevier, vol. 104(C).
  7. Wolfgang Breuer & Christian Hofmann, 2025. "Replication studies in finance and accounting," Journal of Business Economics, Springer, vol. 95(2), pages 187-196, April.
  8. Byun, Jun Young & Na, Yosep & Song, Jae Wook, 2026. "From vision to value: Stock chart image-driven factors and their pricing power," Finance Research Letters, Elsevier, vol. 92(C).
  9. Chue, Timothy K. & Hu, Yunke Katelyn, 2026. "Investor sentiment and the crash risk of anomalies," Finance Research Letters, Elsevier, vol. 88(C).
  10. Chen, Danni & Gong, Le & He, Zhonghui, 2026. "Fit for ventures: how exercise participation fuels entrepreneurial entry–a dual lens of social and psychological capital," Finance Research Letters, Elsevier, vol. 88(C).
  11. Andreas Neuhierl & Xiaoxiao Tang & Rasmus T. Varneskov & Guofu Zhou, 2026. "Do Option Characteristics Predict the Underlying Stock Returns in the Cross-Section?," Management Science, INFORMS, vol. 72(4), pages 2742-2760, April.
  12. Rolf Uwe Fülbier & Thorsten Sellhorn, 2023. "Understanding and improving the language of business: How accounting and corporate reporting research can better serve business and society," Journal of Business Economics, Springer, vol. 93(6), pages 1089-1124, August.
  13. Jonathan Fletcher, 2024. "AN examination of linear factor models in U.K. stock returns in the presence of dynamic trading," Review of Quantitative Finance and Accounting, Springer, vol. 63(3), pages 1121-1147, October.
  14. Justin Birru & Hannes Mohrschladt & Trevor Young, 2026. "Systematic Mispricing of Speculative Stocks and the Cross-Sectional Risk-Return Trade-off," Management Science, INFORMS, vol. 72(7), pages 6083-6103, July.
  15. Li, Jinchuan & Zhu, Yifeng, 2026. "Taming crypto anomalies: A Lasso-type factor model," Research in International Business and Finance, Elsevier, vol. 83(C).
  16. Saketh Aleti & Tim Bollerslev & Mathias Siggaard, 2025. "Intraday Market Return Predictability Culled from the Factor Zoo," Management Science, INFORMS, vol. 71(9), pages 7731-7751, September.
  17. Conlon, Thomas & Cotter, John & Ropotos, Ioannis, 2026. "Drivers of firm-level tail dependence: A machine learning approach," Journal of Economic Dynamics and Control, Elsevier, vol. 182(C).
  18. Aleksey Kolokolov & Shifan Yu, 2026. "Realized Regularized Regressions," Papers 2604.23023, arXiv.org.
  19. Julian Böll & Julian Thimme & Marliese Uhrig-Homburg, 2026. "Anomalies and optionability," Review of Derivatives Research, Springer, vol. 29(1), pages 1-29, December.
  20. Fu, Zhonghao & Gao, Shang & Su, Liangjun & Wang, Xia, 2026. "High-dimensional conditional factor model," Journal of Econometrics, Elsevier, vol. 254(PB).
  21. Bollerslev, Tim & Patton, Andrew J. & Zhang, Haozhe, 2022. "Equity clusters through the lens of realized semicorrelations," Economics Letters, Elsevier, vol. 211(C).
  22. Antoine Falck & Adam Rej & David Thesmar, 2021. "Why and how systematic strategies decay," Papers 2105.01380, arXiv.org.
  23. Henriquez-Salman, Ricardo, 2025. "Methodological ESG uncertainty in portfolio sorts," Research in International Business and Finance, Elsevier, vol. 80(C).
  24. Weimin Liu & Di Luo & Cheng Zeng & Huainan Zhao, 2026. "Labor Productivity, Return Predictability, and Operating Profitability," Journal of Business Finance & Accounting, Wiley Blackwell, vol. 53(1), pages 411-434, February.
  25. Terence Lim & Kumar Muthuraman & Michael Sury, 2026. "QRAFTI: An Agentic Framework for Empirical Research in Quantitative Finance," Papers 2604.18500, arXiv.org.
  26. Nicola Borri & Aleh Tsyvinski & Yukun Liu, 2026. "AI Premium," NBER Working Papers 35451, National Bureau of Economic Research, Inc.
  27. Dickerson, Alexander & Julliard, Christian & Mueller, Philippe, 2026. "The co-pricing factor zoo," Journal of Financial Economics, Elsevier, vol. 182(C).
  28. Dong, Mengmeng, 2025. "Economic aggregation of return signals in global markets," Journal of Empirical Finance, Elsevier, vol. 84(C).
  29. Kaczmarek, Tomasz & Zaremba, Adam, 2025. "Beyond the last surprise: Reviving PEAD with machine learning and historical earnings," Finance Research Letters, Elsevier, vol. 86(PE).
  30. Mercik, Aleksander & Słoński, Tomasz & Karaś, Marta, 2024. "Understanding crypto-asset exposure: An investigation of its impact on performance and stock sensitivity among listed companies," International Review of Financial Analysis, Elsevier, vol. 92(C).
  31. Long, Huaigang & Demir, Ender & Będowska-Sójka, Barbara & Zaremba, Adam & Shahzad, Syed Jawad Hussain, 2022. "Is geopolitical risk priced in the cross-section of cryptocurrency returns?," Finance Research Letters, Elsevier, vol. 49(C).
  32. Su, Kuangxi & He, Yafang & Xiang, Yuxin & Ye, Meng & Yang, Xuduan, 2026. "Combining minimum-CVaR hedging models with a novel maximum efficiency strategy for crude oil future," International Review of Economics & Finance, Elsevier, vol. 106(C).
  33. Hendrik Bessembinder & Michael J. Cooper & Wei Jiao & Feng Zhang, 2025. "Long-run post-event returns in global stock markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 56(9), pages 1150-1169, December.
  34. Nima Afsharhajari & Jonathan Yu-Meng Li, 2026. "The Virtue of Sparsity in Complexity," Papers 2604.17166, arXiv.org.
  35. Doron Avramov & Xin He, 2026. "Stochastic Discount Factors with Cross-Asset Spillovers," Papers 2602.20856, arXiv.org.
  36. Fieberg, Christian & Osorio, Carlos & Poddig, Thorsten & Varmaz, Armin, 2026. "Enhancing index-tracking performance: Leveraging characteristic-based factor models for reduced estimation errors," European Journal of Operational Research, Elsevier, vol. 331(1), pages 278-291.
  37. Christophe Pérignon & Olivier Akmansoy & Christophe Hurlin & Anna Dreber & Felix Holzmeister & Juergen Huber & Magnus Johanneson & Michael Kirchler & Albert J Menkveld & Michael Razen & Utz Weitzel, 2022. "Reproducibility of Empirical Results: Evidence from 1,000 Tests in Finance," Working Papers hal-03810013, HAL.
  38. Han, Yufeng & Mo, Xi Nancy & Yang, Jian, 2025. "Trend factors around the world: Performance and determinants," Journal of Banking & Finance, Elsevier, vol. 181(C).
  39. Ghazi, Soroush & Schneider, Mark & Dorobiala, Zachary, 2024. "Speculative and non-speculative equity premia," Economics Letters, Elsevier, vol. 236(C).
  40. Broman, Markus & Fulkerson, Jon, 2025. "Variation in the value of active share across regions of investments: Evidence from global equity funds," Journal of Banking & Finance, Elsevier, vol. 180(C).
  41. Calice, Giovanni & Lin, Ming-Tsung, 2021. "Exploring risk premium factors for country equity returns," Journal of Empirical Finance, Elsevier, vol. 63(C), pages 294-322.
  42. Anna Dreber & Magnus Johannesson, 2025. "A framework for evaluating reproducibility and replicability in economics," Economic Inquiry, Western Economic Association International, vol. 63(2), pages 338-356, April.
  43. Drechsler, Katharina & Müller, Sebastian & Wagner, Heinz-Theo, 2025. "The “digital” premium: Why does digitalization drive stock returns?," Journal of Economic Dynamics and Control, Elsevier, vol. 181(C).
  44. Christophe Pérignon & Olivier Akmansoy & Christophe Hurlin & Anna Dreber & Felix Holzmeister & Jürgen Huber & Magnus Johannesson & Michael Kirchler & Albert J Menkveld & Michael Razen & Utz Weitzel, 2024. "Computational Reproducibility in Finance: Evidence from 1,000 Tests," The Review of Financial Studies, Society for Financial Studies, vol. 37(11), pages 3558-3593.
  45. Simon, Frederik & Weibels, Sebastian & Zimmermann, Tom, 2025. "Deep parametric portfolio policies," CFR Working Papers 23-01, University of Cologne, Centre for Financial Research (CFR), revised 2025.
  46. Guillaume Chevalier & Guillaume Coqueret & Thomas Raffinot, 2022. "Supervised portfolios," Post-Print hal-04144588, HAL.
  47. Cao, Charles & Liang, Bing & Yao, Tong & Zhang, Andrew, 2026. "Liquidity characteristics of market anomalies and institutional trading," Journal of Financial Economics, Elsevier, vol. 179(C).
  48. Andrew Y. Chen, 2025. "Do t -Statistic Hurdles Need to Be Raised?," Management Science, INFORMS, vol. 71(7), pages 5830-5848, July.
  49. Tian Ma & Cunfei Liao & Fuwei Jiang, 2023. "Timing the factor zoo via deep learning: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(1), pages 485-505, March.
  50. Sara Ali & Ihsan Badshah & Riza Demirer & Prasad Hegde, 2023. "Economic policy uncertainty and fund flow performance sensitivity: Evidence from New Zealand," International Review of Finance, International Review of Finance Ltd., vol. 23(3), pages 666-679, September.
  51. Sotirios D. Nikolopoulos, 2026. "Spurious Predictability in Financial Machine Learning," Papers 2604.15531, arXiv.org.
  52. Yong Hyuck Kim, 2026. "Are anomalies artefacts of sample composition?," Journal of Asset Management, Palgrave Macmillan, vol. 27(3), pages 1-19, September.
  53. Cakici, Nusret & Zaremba, Adam, 2025. "Accounting vs technical information: what matters more for stock return predictability?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 104(C).
  54. Alexander Dickerson & Cesare Robotti & Giulio Rossetti, 2026. "The Corporate Bond Factor Replication Crisis," Papers 2604.07880, arXiv.org.
  55. Nolan Alexander & Frank Fabozzi, 2026. "Measuring Strategy-Decay Risk: Minimum Regime Performance and the Durability of Systematic Investing," Papers 2604.08356, arXiv.org.
  56. Andrew Y. Chen, 2022. "Most claimed statistical findings in cross-sectional return predictability are likely true," Papers 2206.15365, arXiv.org, revised Nov 2025.
  57. Söhnke M. Bartram & Harald Lohre & Peter F. Pope & Ananthalakshmi Ranganathan, 2021. "Navigating the factor zoo around the world: an institutional investor perspective," Journal of Business Economics, Springer, vol. 91(5), pages 655-703, July.
  58. Gordon, Kemar & Schneider, Mark & Strauss, Jack, 2025. "Stock market anomalies in the modern era," Finance Research Letters, Elsevier, vol. 86(PD).
  59. Beckmeyer, Heiner & Wiedemann, Timo, 2022. "Recovering Missing Firm Characteristics with Attention-Based Machine Learning," VfS Annual Conference 2022 (Basel): Big Data in Economics 264135, Verein für Socialpolitik / German Economic Association.
  60. Lei Jiang & Guofu Zhou & Yifeng Zhu, 2025. "Which proxy: Capturing lottery feature through aggregation," Financial Management, Financial Management Association International, vol. 54(2), pages 331-362, June.
  61. Jin Du & Alexander Walter & Maxim Ulrich, 2026. "Cross-Market Alpha: Testing Short-Term Trading Factors in the U.S. Market via Double-Selection LASSO," Papers 2601.06499, arXiv.org, revised May 2026.
  62. Andrew Paskaramoorthy & Terence van Zyl & Tim Gebbie, 2025. "The bias of IID resampled backtests for rolling-window mean-variance portfolios," Papers 2505.06383, arXiv.org.
  63. James W. Kolari & Jianhua Huang & Wei Liu & Huiling Liao, 2025. "A Quantum Leap in Asset Pricing: Explaining Anomalous Returns," JRFM, MDPI, vol. 18(7), pages 1-28, July.
  64. Beckmeyer, Heiner & Wiedemann, Timo, 2025. "All Days Are Not Created Equal: Understanding Momentum by Learning to Weight Past Returns," Journal of Banking & Finance, Elsevier, vol. 181(C).
  65. Bali, Turan G. & Beckmeyer, Heiner & Moerke, Mathis & Weigert, Florian, 2021. "Option return predictability with machine learning and big data," CFR Working Papers 21-08, University of Cologne, Centre for Financial Research (CFR).
  66. Wang, Ming-Long & Shi, Huai-Long & Wan, Yu-Lei & Wang, Jing-Jin, 2026. "Luck “duels” among factors in China," The Quarterly Review of Economics and Finance, Elsevier, vol. 106(C).
  67. Emanuele Campiglio & Jérôme Deyris & Davide Romelli & Ginevra Scalisi, 2025. "Warning words in a warming world: central bank communication and climate change," Working Papers hal-04978072, HAL.
  68. Kilic, Mete & Yang, Louis & Zhang, Miao Ben, 2022. "The cross-section of investment and profitability: Implications for asset pricing," Journal of Financial Economics, Elsevier, vol. 145(3), pages 706-724.
  69. Christophe Hurlin & Jean-Edouard Colliard & Christophe Pérignon, 2024. "The Economics of Computational Reproducibility," Working Papers hal-04759240, HAL.
  70. Müller, Sebastian & Pugachyov, Nikolay & Weigert, Florian, 2026. "Forecasting mutual fund performance: Combining return-based with portfolio holdings-based predictors," CFR Working Papers 26-01, University of Cologne, Centre for Financial Research (CFR).
  71. Useong Shin, 2026. "Overshooting the Coordinate: Where Factor Corrections Land on Characteristic Axes," Papers 2607.05091, arXiv.org, revised Jul 2026.
  72. Lassance, Nathan & Vanderveken, Rodolphe & Vrins, Frédéric, 2025. "Shrink with Purpose: Optimal Covariance Matrix Estimation for Portfolio Selection," LIDAM Discussion Papers LFIN 2025002, Université catholique de Louvain, Louvain Finance (LFIN).
  73. Jin, Xuejun & Chen, Yifan & Liu, Xiaobin & Zeng, Tao, 2026. "Factors in the cross-section of Chinese corporate bonds: Evidence from reduced-rank analysis," Journal of Empirical Finance, Elsevier, vol. 85(C).
  74. Coqueret, Guillaume & Pérignon, Christophe, 2025. "Persistent Anomalies and Nonstandard Errors," HEC Research Papers Series 1578, HEC Paris.
  75. Moritz Heiß & Lukas Müller & Marc Ringel, 2026. "Evidence on the non-linear relation between ESG and SEO announcement returns," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 50(1), pages 1-23, December.
  76. Chai, Daniel & Ali, Searat & Brosnan, Mark & Hasso, Tim, 2026. "Understanding researchers' perceptions and experiences in finance research replication studies: A pre-registered study," Pacific-Basin Finance Journal, Elsevier, vol. 96(C).
  77. Peng, Liansheng & Xu, Haoyu, 2026. "The role of central firms in the economic networks: Evidence from China," Pacific-Basin Finance Journal, Elsevier, vol. 95(C).
  78. Badidi, Samia, 2026. "Essays in Asset Pricing," Other publications TiSEM c9616064-608b-4a02-a55a-5, Tilburg University, School of Economics and Management.
  79. Jacobs, Heiko & Lauber, Alexander, 2026. "Media reporting and asset pricing models," Journal of Banking & Finance, Elsevier, vol. 182(C).
  80. Xin Chen & Wei He & Libin Tao & Jianfeng Yu, 2023. "Attention and Underreaction-Related Anomalies," Management Science, INFORMS, vol. 69(1), pages 636-659, January.
  81. Simkus, Matthew & Truong, Helen & Hoang, Khoa & Huang, Ronghong, 2022. "Economic uncertainty and cross section of stock returns: Australian evidence," Pacific-Basin Finance Journal, Elsevier, vol. 74(C).
  82. Julian Junyan Wang & Victor Xiaoqi Wang, 2025. "Assessing Consistency and Reproducibility in the Outputs of Large Language Models: Evidence Across Diverse Finance and Accounting Tasks," Papers 2503.16974, arXiv.org, revised Sep 2025.
  83. van Cappelle, Tjeerd & Pokidin, Dmytro & Zwinkels, Remco C.J., 2025. "The cross section of stock returns in an artificial stock market," Journal of Economic Behavior & Organization, Elsevier, vol. 239(C).
  84. Andrew Y. Chen & Tom Zimmermann, 2022. "Open Source Cross-Sectional Asset Pricing," Critical Finance Review, now publishers, vol. 11(2), pages 207-264, May.
  85. Cayman Seagraves & Stace Sirmans, 2026. "Frontiers and Foundations: Insights From the Most‐Cited Finance Papers, 2021–2026," The Financial Review, Eastern Finance Association, vol. 61(3), pages 693-700, August.
  86. Chen, Jian & Han, Yufeng & Tang, Guohao & Zhu, Yifeng, 2026. "Taming the global factor zoo," Journal of International Money and Finance, Elsevier, vol. 160(C).
  87. Lioui, Abraham & Tarelli, Andrea, 2022. "Chasing the ESG factor," Journal of Banking & Finance, Elsevier, vol. 139(C).
  88. Chang Liu, 2026. "Evaluating Structured Strategy Backtests: Peer Benchmarks, Regime Timing, and Live Performance," Papers 2604.18821, arXiv.org.
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