Initial Submissions

The Review of Asset Pricing Studies strives to publish the highest quality research in asset pricing, broadly construed. RAPS will evaluate papers based on their substantive original contribution to our understanding of the pricing of assets. Asset pricing includes, but is not limited to, the following topic areas: theoretical and empirical models of asset prices and returns, empirical methodology, substantive empirical research, macro-finance, the study of financial institutions as related to asset prices, information and liquidity in asset markets, behavioral investment studies, asset market structure and microstructure, risk analysis, hedge funds, mutual funds, and alternative investments. Manuscripts are accepted for publication on the understanding that they have been submitted solely to the Review of Asset Pricing Studies and that they have not been previously published either in whole or in part.

Manuscript Preparation

Manuscripts should be typewritten using double-spacing throughout, including tables, references, and footnotes. Manuscripts (text, references, tables, figures, etc.) should be prepared in detailed accord with The Chicago Manual of Style 15th Edition. Assemble sections in the following order: Title page, Abstract, Text, Figure legends, Appendixes, References, Footnotes, Tables, and Figures. Electronic submissions must be submitted as PDF files.

The Title page should include the title, name(s) of the author(s), and institutional affiliation for each author. It should also include name, address, telephone number, and e-mail address of the author responsible for correspondence as well as the name and address of the author to whom requests for reprints should be sent. Page numbering should begin on this page.

Each article should include an Abstract of no more than 100 words, beginning on a separate page. The Text should also begin on a separate page. The first numbered section should follow the introduction of the article. References should be cited in the text by author’s last name and the year of publication. Footnotes should be kept to a minimum and should be placed at the bottom of the page on which the footnote number appears. Once typeset, footnotes can continue onto a second page but cannot continue onto a third. Each footnote is a separate paragraph. Do not number author affiliations or acknowledgments of support or assistance. Equations should be numbered consecutively with Arabic numerals.

Tables should be typewritten, each on a separate page, and numbered sequentially with Arabic numerals; each should have a brief, descriptive title; each should be designed to fit on a page without undue compression. Vertical rules should not be used. They should be as self-explanatory as possible, incorporating any necessary descriptive material in an unnumbered footnote.

Figures should also be numbered consecutively with Arabic numerals. All explanatory material should be included in the legend and not in the figure itself. Submit review copies of each figure with the manuscript. All artwork and typography should be of professional quality. Typewritten or hand-drawn figures are not acceptable. Figure legends should be typed together on a separate sheet double-spaced.

Make sure the text is written in clear, grammatically-acceptable English. The grammar does not have to be perfect, but it cannot be so poor that it causes the reader pause at frequent intervals. Articles will be desk rejected if the editor believes the writing is so poor that reviewing the paper will put an unfair burden on the system. If you are unsure about the English, hire somebody to look over your paper. Our publisher offers language editing services at

New Submissions That Incorporate Material From a Previously Rejected Article

Do not submit a paper as new that nontrivially incorporates material from a paper of yours that was rejected by RAPS, accepted by RAPS, or is at any stage of review at RAPS, without first obtaining permission to do so from one of the journal’s editors or the Executive Editor! We systematically check new submissions against older ones to enforce this policy. Failure to obtain permission prior to doing so may result in sanctions for you and your co-authors. If in doubt, ask!

Policy on Articles Derived From Published Papers

Sometimes a more practitioner-oriented journal or book volume publisher will approach authors, wishing to publish a derivative or spinoff article based on a paper published in RAPS. We encourage this, with the view that such spinoffs recognize and may enhance the impact of the original paper. However, we have three necessary conditions.

  1. The spinoff or derivative article cannot be published prior to the date when the original article is published in RAPS.
  2. The spinoff or derivative article must be substantially different from the original paper published in RAPS.
  3. The spinoff or derivative article must fully acknowledge and include citation to the original paper published in RAPS.

Comments are closed.