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Author Guidelines

ATTENTION. If your paper is in Portuguese, you must change the language of this submission interface to Portuguese in the drop-down menu on the upper left corner of this page to follow the instructions for Portuguese language papers.

If you are already registered in the Review's system, make sure you are registered in the role of "author", otherwise you will not be able to submit your article. If you are still going to register, then chekc the "author" box during the process.

The manuscript must be original and not be under consideration by other publications or not have been previously published, except in the proceedings of academic events that did not retain its copyrights. The manuscript copyrights must belong to its authors. Manuscripts written in English and in Portuguese are acceptable. The manuscript must be about corporate finance, financial economics, financial markets, financial risk management, or numerical methods or econometrics of finance. Other subject areas, such as public finance and general accounting and economics are not within the scope of the Review. Theoretical and empirical manuscripts are welcome. Opinion pieces, case studies, and teaching cases are usually not accepted. In case of doubt, the authors should examine the published issues of the Review or contact the editors to ascertain if that their manuscript is adequate.

For an excellent guideline on how to write an objective academic article, see the article by Prof. John Cochrane, of the University of Chicago.

Article Review Processing

Four associate editors assist the general editor and cover four different areas of finance: corporate finance; investment management; risk management; and quantitative and numerical methods. The general editor classifies submitted articles according to each of these areas of finance, which are preliminarily reviewed by the general editor and the associate editor of the corresponding area or a member of the editorial board. An initial assessment of the format is also done at this stage. As a result of this initial evaluation, the editor may reject the article, send it back to the authors so they carry out the initial changes and suggestions made by the editors, or send it to reviewers. The Review provides a report by the associate editor in the case of a desk reject.

The editors appoint at least two reviewers each article and all articles are evaluated according to a double blind review procedure. The reviewers are always professionals with doctorates, working in academia or not. The evaluation process aims to be involved and educational. This means that editors read all the reviewer reports and interfere when these appear inadequate. At the end of the process, together with the reviewer reports, authors may receive guidance from the editors as well. The decisions in the first round of evaluation, in most cases, aim to improve the article, which is usually given a revise and resubmit opportunity. An article is seldom accepted without being subjected to at least two revisions.

Reviewer reports are prepared according to guidelines included in a evaluation form sent to reviewers. Reviewers must declare if they have any conflict of interest to evaluate an article.

Communication Channel.

Authors and reviewers should feel completely free to raise any questions about the editorial process to the general editor or to the associate editor or editorial board member who is overseeing his/her article. If authors are not satisfied with the answer, they may directly contact any member of the Editorial Policy Committee.

Proprietary Data Policy

In the case of proprietary data sources, i.e. not accessible by subscription or freely, besides the usual analysis of the quality and relevance of the article, the authors must:

1) show that the data come from a well known institution with market or academic reputation by means of a letter from the proprietary institution, that may not remain anonymous, guaranteeing the existence and the quality of the data and providing the reason for them to be confidential.

2) provide details of how one may try to obtain permission to access the data, the criteria for data selection, and descriptive statistics that permit assessing the representativeness of the sample.

If the institution is not considered reputable or well known in the market or academia, or desires to remain anonymous, the article will be rejected, unless local access by the editors to the data base is feasible, with the costs of such access born by the authors and subject to the editors availability (Policy institute by the Editorial Policy Committee on Dec. 1, 2011).

Manuscript Submission

The manuscript must be submitted exclusively through this online submission facility. We do not accept manuscripts by e-mail, postal mail or other remittance forms. When registering to send the manuscript, the corresponding author must provide the complete names of all authors, their affiliations, and e-mail. If the author is already registered with the Review's portal or with another journal edited by FGV/RJ (RBE, RAP etc), it is possible to use the existing registration to login.

Manuscript Format

The manuscript must be submitted in PDF format. Charts and figures must be made for good quality black and white reproduction and must be included with their captions and fonts in a single manuscript file.

Articles must be sent in double space to allow the reviewers proper space for annotations. It is also recommended that the article contains about 10,000 words, that the title includes no more than 10 words, and that the number of tables and charts is not greater than 10. Authors will be advised about formatting before the article is sent to reviewers and also when the manuscript is accepted, but must use common sense and not send very long manuscripts or those that are not yet written in an academic article style.

The article must be sent in blind copy, i. e., it must not contain ways to identify the authors, their institutions, addresses, etc. Most software record author information automatically. In the document's properties this information may be erased, including in pdf files.

There should be no cover page. The manuscript should begin with its title, followed by the abstract, that should contain the objective, method, and the main results with up to 150 words, the keywords (no more than five), the JEL codes, followed by an introduction, the remaining sections, the conclusions and, at the end, by a list of all and only the articles cited in the manuscript, whose format is illustrated below. If the article was originally written in Portuguese, after the title, there should be an abstract followed by the keywords in Portuguese. All URL contained in the text must be active, click-ready, and the date of the most recent access must be provided.

Appendices are complementary charts, figures, text, or tables produced by the authors. Annexes are complementary charts, figures, text or tables produced by others. Please respect this distinction and place appendices and annexes immediately before the bibliographical references.

The corresponding author must fill out all metadata fields (title, abstract, area, sub-area, JEL codes, keywords, type of article, and language). If the article is in Portuguese this must be done in English as well. If there have been changes in the title or abstract during the review process, the submitting author should update them in the system because it will be this title and abstract that will show to readers on the Internet.

Keywords must be at least three and no more than five. Use commonly used names or expressions from the field and do not use sentences. You may want to see the keywords associated to the JEL codes. See the JEL codes at here.

Examples of Bibliographical References

Bibliographical references must be included at the end of the manuscript and made according to the examples below. RBFin follows a slightly modified American Psychological Association (APA) standard.

Haugen, Robert A. (2001). Modern Investment Theory . Prentice-Hall, New Jersey, 5th edition.

Book chapter:
Parsons, Chris, & Titman, Sheridan (2008). Capital structure and corporate strategy. In Eckbo, Espen, editor, Handbook of Corporate Finance - Empirical Corporate Finance , Volume 2, Elsevier, Amsterdam.

Journal article:
Almeida, Caio, Duarte, Antonio Marcos, & Fernandes, Cristiano (2003). A generalization of principal components analysis for non-observable term structures in emerging markets. International Journal of Theoretical and Applied Finance, 6:885-903

Luporini, Viviane (2000). Sustainability of the Brazilian fiscal policy and Central Bank independence. Revista Brasileira de Economia, 54:201-226.

Unpublished manuscripts:
Novaes, Walter & Oliveira, Fernando (2005). The market of foreign exchange hedge in Brazil: Reactions of financial institutions to interventions of the Central Bank. Central Bank of Brazil. Unpublished mimeo.

Hahn, Warren J. (2005). A discrete-time approach for valuing real options with underlying mean-reverting stochastic processes. PhD dissertation. The University of Texas, Austin.

Electronic text:
Riskmetrics Group (2008). CorporateMetrics technical document. Available at
http://www.riskmetrics.com/publications/techdocs/corpovv.html. Accessed on May 1, 2008.

Jalal, Abu M. (2007). The Pecking Order, Information Asymmetry, and Financial Market Efficiency. Available at http://ssrn.com/abstract=939588. Accessed on March 23, 2010.

Carter, David A., Pantzalis, Christos, & Simkins, Betty J. (2003). Asymmetric exposure to foreign-exchange risk: financial and real option hedges implemented by US multinational corporations. In Proceedings from the 7th Annual International Conference on Real Options: Theory Meets Practice, Washington, D.C.

After the Article is Accepted

The final version of the accepted manuscript must be supplied in Microsoft Word or Latex. Charts and figures may be supplied in EPS format (preferred) or, in case they were produced by another software, must be sent in the format they were created (Microsoft Excel, Powerpoint, etc.). The bibliographical references will be formatted according to the examples above. When using Latex, bibliographical references should be in a separate .bib file, to be processed by the BibTeX software. During the final galley production process, authors may be requested to redo charts, figures, or equations and to provide further clarifications about the article, in which case a prompt reply is expected to avoid delays in the printing of the Review. If there was a change in the abstract, authors shall update it because it will be this abstract that will be shown to those searching for the article on the Internet and in directories.

Each author receives three printed copies of the Review in which his or her article was published.

Procedures for Content Preservation

All digital files of RBFin, including the several versions of manuscripts, reviewer reports, and general correspondence are kept in the servers of FGV in Rio and partially in Google Mail. This data are subject to the safety procedures of these institutions. Files are kept in their original formats (pdf, doc, tex, etc.) and up to the time being all formats are compatible with software and hardware evolution.


Submission Preparation Checklist

As part of the submission process, authors are required to check off their submission's compliance with all of the following items, and submissions may be returned to authors that do not adhere to these guidelines.

  1. The article must be about corporate finance, financial economics, financial markets, financial risk management, or numerical methods or the econometrics of finance. Other areas, such as public finance and general accounting, are not within the scope of the Review.
  2. The article must be original, not have been published elsewhere, or be under consideration by another publication. Conference proceedings publications in which the authors still retain the copyright are admissible.
  3. Only articles written in Portuguese and English, in PDF format, and formatted according to the Review guidelines are admissible.
  4. The article must contain the title, abstract, and keywords in English. If conversant, authors should provide them in Portuguese as well. Otherwise, the editors will provide a translation if the article is accepted. JEL codes must also be provided. If your paper was written in Portuguese, change the language to Portuguese in the drop-down menu on the upper left corner of this page.
  5. All URL provided in the text must be active and clickable from within the document, with the date of last access provided.
  6. Author identification, including information in the field "Properties" have been erased from the document.
  7. I declare that the article's copyright belongs to the authors and that it will be transferred to the Brazilian Society of Finance, in case it is accepted for publication.
  8. The article contains about 10,000 words, it is not single spaced, the title contains up to 10 words, there are no more than 10 tables or charts, references are in the format indicated, and the abstract contains about 150 words.
  9. All authors of the article agree to act as reviewers for the Brazilian Review of Finance, if requested.
  10. I am aware of the proprietary data policy.

Copyright Notice

Authors that publish in the Brazilian Review of Finance agree with the following terms:

Authors maintain their moral rights and grant to Review the copyright and the first publication right with their work simultaneously licensed under a Creative Commons Attribution 3.0 License that allows the total or partial copy of the work, including for commercial use, and sharing of the work with recognition of its authors and the initial publication in this journal.

Authors are allowed to take additional contracts separately for non-exclusive distribution of the paper published in this journal (eg, in institutional repositories or to publish as a book chapter), with recognition of its authors and the initial publication in this journal.

Authors are permitted and encouraged to post their work online (eg, in institutional repositories or on their website) at any point before or during the submission process, as this can lead to productive exchanges, as well as increase the impact and citation of the published work.

The contents of the signed articles are the sole responsibility of the authors, remains their responsibility even after the transfer of the copyright. The Review reserves the right to make normative, spelling and grammar changes in the original article in order to maintain the linguistic standards, but will follow the style of the authors. RBFin also reserves the right to translate the article into another language. RBFin may impose a copyright transfer form as a condition for publishing the article.


Privacy Statement

All personal information provided to RBFin will be used exclusively in the services rendered by this publication and will not be supplied to third parties in any case. The Brazilian Society of Finance may send you information about its events and other initiatives.