000			02650cam a22004217 4500
001			w28432
003			NBER
005			20211020103319.0
006			m o d
007			cr cnu||||||||
008			210910s2021 mau fo 000 0 eng d
100	1		_aJensen, Theis Ingerslev.
245	1	0	_aIs There A Replication Crisis In Finance? / _cTheis Ingerslev Jensen, Bryan T. Kelly, Lasse Heje Pedersen.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2021.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w28432
500			_aFebruary 2021.
520	3		_aSeveral papers argue that financial economics faces a replication crisis because the majority of studies cannot be replicated or are the result of multiple testing of too many factors. We develop and estimate a Bayesian model of factor replication, which leads to different conclusions. The majority of asset pricing factors: (1) can be replicated, (2) can be clustered into 13 themes, the majority of which are significant parts of the tangency portfolio, (3) work out-of-sample in a new large data set covering 93 countries, and (4) have evidence that is strengthened (not weakened) by the large number of observed factors.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aC11 - Bayesian Analysis: General _2Journal of Economic Literature class.
690		7	_aC58 - Financial Econometrics _2Journal of Economic Literature class.
690		7	_aG02 - Behavioral Finance: Underlying Principles _2Journal of Economic Literature class.
690		7	_aG10 - General _2Journal of Economic Literature class.
690		7	_aG11 - Portfolio Choice • Investment Decisions _2Journal of Economic Literature class.
690		7	_aG12 - Asset Pricing • Trading Volume • Bond Interest Rates _2Journal of Economic Literature class.
690		7	_aG15 - International Financial Markets _2Journal of Economic Literature class.
690		7	_aG17 - Financial Forecasting and Simulation _2Journal of Economic Literature class.
700	1		_aKelly, Bryan T.
700	1		_aPedersen, Lasse Heje. _918329
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w28432.
856	4	0	_uhttps://www.nber.org/papers/w28432
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w28432
942			_2ddc _cW-PAPER
999			_c319691 _d278253