This PDF contains the complete Third Quarter 2026 issue of the Financial Analysts Journal.
Perspectives
Demographics and Technology: A New Frontier of Investment Opportunities at the Crossroads of Population Change and Technological Innovation
Maria Vassalou is Head of Pictet Research Institute, Banque Pictet & Cie, Geneva, Switzerland
Don’t Blame Indexing for Your Problems
Owen A. Lamont is a Senior Vice President and Portfolio Manager at Acadian Asset Management
Bad Timing Does Not Cost Investors 15% of Their Funds’ Returns: An Examination of Morningstar’s “Mind the Gap” Study
Jon Fulkerson is a professor and chairperson, University of Dayton
Bradford Jordan is a visiting scholar, University of Florida
Timothy Riley, CFA, is an associate professor, University of Arkansas
Qing Yan is an assistant professor, Towson University
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Research
When the Equity Premium Was New: How the Baleful Impact of Deflation Eluded E. L. Smith
Edward F. McQuarrie is a Professor Emeritus, Leavey School of Business, Santa Clara University
EBITDA, EBITA or EBIT?
Doron Nissim is Ernst & Young Professor of Accounting and Finance at Columbia Business School, Columbia University
Profitability Meets Investment: The Wealth Creation Effect in Stock Returns
Francesco Franzoni is Professor of Finance at US/Lugano and Research Fellow at CEPR
Daniel Obrycki is a partner at The Applied Finance Group
Rafael Resendes is a partner at The Applied Finance Group,
Carbon Beta: A Market-Based Measure of Climate Transition Risk Exposure
Joop Huij is an Associate Professor and Head of Indices, Rotterdam School of Management and Robeco Indices
Dries Laurs is a Lecturer in Finance and Quantitative Researcher, Vrije Universiteit Amsterdam and Robeco Indices
Philip Stork is a Professor of Financial Markets and Instruments, Vrije Universiteit Amsterdam
Remco C. J. Zwinkels is a Professor of International Finance, Vrije Universiteit Amsterdam and Tinbergen Institute,
Analyzing ESG Follow-Through of Pension Funds: Evidence from Korea’s National Pension Service
Sehee Kim, Assistant Professor, School of Business Administration, Chung-Ang University.
Woo-Jong Lee, Professor, Business Administration, Seoul National University.
Hee-Yeon Sunwoo, Associate Professor, Business Administration, Sejong University.
Aaron Yoon, Professor, Business Administration, The University of Hong Kong.