Get quick answers to your questions about the article from our AI researcher chatbot
{'id': 'https://openalex.org/W3123639445', 'doi': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'title': 'Betting against beta', 'display_name': 'Betting against beta', 'publication_year': 2014, 'publication_date': '2014-01-01', 'ids': {'openalex': 'https://openalex.org/W3123639445', 'doi': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'mag': '3123639445'}, 'language': 'en', 'primary_location': {'is_oa': True, 'landing_page_url': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'pdf_url': None, 'source': {'id': 'https://openalex.org/S149240962', 'display_name': 'Journal of Financial Economics', 'issn_l': '0304-405X', 'issn': ['0304-405X', '1879-2774'], 'is_oa': False, 'is_in_doaj': False, 'is_core': True, 'host_organization': 'https://openalex.org/P4310320990', 'host_organization_name': 'Elsevier BV', 'host_organization_lineage': ['https://openalex.org/P4310320990'], 'host_organization_lineage_names': ['Elsevier BV'], 'type': 'journal'}, 'license': 'cc-by-nc-nd', 'license_id': 'https://openalex.org/licenses/cc-by-nc-nd', 'version': 'publishedVersion', 'is_accepted': True, 'is_published': True}, 'type': 'article', 'type_crossref': 'journal-article', 'indexed_in': ['crossref'], 'open_access': {'is_oa': True, 'oa_status': 'hybrid', 'oa_url': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'any_repository_has_fulltext': True}, 'authorships': [{'author_position': 'first', 'author': {'id': 'https://openalex.org/A5060724998', 'display_name': 'Andrea Frazzini', 'orcid': None}, 'institutions': [{'id': 'https://openalex.org/I139787848', 'display_name': 'Capital University', 'ror': 'https://ror.org/00jy9e726', 'country_code': 'US', 'type': 'education', 'lineage': ['https://openalex.org/I139787848']}], 'countries': ['US'], 'is_corresponding': False, 'raw_author_name': 'Andrea Frazzini', 'raw_affiliation_strings': ['AQR Capital Management, CT 06830, USA'], 'affiliations': [{'raw_affiliation_string': 'AQR Capital Management, CT 06830, USA', 'institution_ids': ['https://openalex.org/I139787848']}]}, {'author_position': 'last', 'author': {'id': 'https://openalex.org/A5022954104', 'display_name': 'Lasse Heje Pedersen', 'orcid': 'https://orcid.org/0000-0001-7126-5530'}, 'institutions': [{'id': 'https://openalex.org/I57206974', 'display_name': 'New York University', 'ror': 'https://ror.org/0190ak572', 'country_code': 'US', 'type': 'education', 'lineage': ['https://openalex.org/I57206974']}, {'id': 'https://openalex.org/I180519160', 'display_name': 'Copenhagen Business School', 'ror': 'https://ror.org/04sppb023', 'country_code': 'DK', 'type': 'education', 'lineage': ['https://openalex.org/I180519160']}, {'id': 'https://openalex.org/I1321305853', 'display_name': 'National Bureau of Economic Research', 'ror': 'https://ror.org/04grmx538', 'country_code': 'US', 'type': 'nonprofit', 'lineage': ['https://openalex.org/I1321305853']}, {'id': 'https://openalex.org/I139787848', 'display_name': 'Capital University', 'ror': 'https://ror.org/00jy9e726', 'country_code': 'US', 'type': 'education', 'lineage': ['https://openalex.org/I139787848']}, {'id': 'https://openalex.org/I4210140326', 'display_name': 'Centre for Economic Policy Research', 'ror': 'https://ror.org/04jzmdh37', 'country_code': 'GB', 'type': 'nonprofit', 'lineage': ['https://openalex.org/I4210140326']}], 'countries': ['DK', 'GB', 'US'], 'is_corresponding': True, 'raw_author_name': 'Lasse Heje Pedersen', 'raw_affiliation_strings': ['AQR Capital Management, CT 06830, USA', 'Center for Economic Policy Research (CEPR), London, UK', 'Copenhagen Business School, 2000 Frederiksberg, Denmark', 'National Bureau of Economic Research (NBER), MA, USA', 'Stern School of Business, New York University, 44 West Fourth Street, Suite 9-190, NY 10012, USA'], 'affiliations': [{'raw_affiliation_string': 'Stern School of Business, New York University, 44 West Fourth Street, Suite 9-190, NY 10012, USA', 'institution_ids': ['https://openalex.org/I57206974']}, {'raw_affiliation_string': 'Copenhagen Business School, 2000 Frederiksberg, Denmark', 'institution_ids': ['https://openalex.org/I180519160']}, {'raw_affiliation_string': 'National Bureau of Economic Research (NBER), MA, USA', 'institution_ids': ['https://openalex.org/I1321305853']}, {'raw_affiliation_string': 'AQR Capital Management, CT 06830, USA', 'institution_ids': ['https://openalex.org/I139787848']}, {'raw_affiliation_string': 'Center for Economic Policy Research (CEPR), London, UK', 'institution_ids': ['https://openalex.org/I4210140326']}]}], 'institution_assertions': [], 'countries_distinct_count': 3, 'institutions_distinct_count': 5, 'corresponding_author_ids': ['https://openalex.org/A5022954104'], 'corresponding_institution_ids': ['https://openalex.org/I57206974', 'https://openalex.org/I180519160', 'https://openalex.org/I1321305853', 'https://openalex.org/I139787848', 'https://openalex.org/I4210140326'], 'apc_list': {'value': 4250, 'currency': 'USD', 'value_usd': 4250, 'provenance': 'doaj'}, 'apc_paid': {'value': 4250, 'currency': 'USD', 'value_usd': 4250, 'provenance': 'doaj'}, 'fwci': 189.324, 'has_fulltext': True, 'fulltext_origin': 'pdf', 'cited_by_count': 1757, 'citation_normalized_percentile': {'value': 0.99993, 'is_in_top_1_percent': True, 'is_in_top_10_percent': True}, 'cited_by_percentile_year': {'min': 99, 'max': 100}, 'biblio': {'volume': '111', 'issue': '1', 'first_page': '1', 'last_page': '25'}, 'is_retracted': False, 'is_paratext': False, 'primary_topic': {'id': 'https://openalex.org/T10047', 'display_name': 'Asset Pricing and Market Efficiency', 'score': 0.9999, 'subfield': {'id': 'https://openalex.org/subfields/2003', 'display_name': 'Finance'}, 'field': {'id': 'https://openalex.org/fields/20', 'display_name': 'Economics, Econometrics and Finance'}, 'domain': {'id': 'https://openalex.org/domains/2', 'display_name': 'Social Sciences'}}, 'topics': [{'id': 'https://openalex.org/T10047', 'display_name': 'Asset Pricing and Market Efficiency', 'score': 0.9999, 'subfield': {'id': 'https://openalex.org/subfields/2003', 'display_name': 'Finance'}, 'field': {'id': 'https://openalex.org/fields/20', 'display_name': 'Economics, Econometrics and Finance'}, 'domain': {'id': 'https://openalex.org/domains/2', 'display_name': 'Social Sciences'}}, {'id': 'https://openalex.org/T10019', 'display_name': 'Corporate Governance and Financial Performance', 'score': 0.9988, 'subfield': {'id': 'https://openalex.org/subfields/1402', 'display_name': 'Accounting'}, 'field': {'id': 'https://openalex.org/fields/14', 'display_name': 'Business, Management and Accounting'}, 'domain': {'id': 'https://openalex.org/domains/2', 'display_name': 'Social Sciences'}}, {'id': 'https://openalex.org/T12675', 'display_name': 'Value-based Management and Economic Performance Measurement', 'score': 0.9966, 'subfield': {'id': 'https://openalex.org/subfields/1408', 'display_name': 'Strategy and Management'}, 'field': {'id': 'https://openalex.org/fields/14', 'display_name': 'Business, Management and Accounting'}, 'domain': {'id': 'https://openalex.org/domains/2', 'display_name': 'Social Sciences'}}], 'keywords': [{'id': 'https://openalex.org/keywords/beta', 'display_name': 'BETA (programming language)', 'score': 0.7107191}, {'id': 'https://openalex.org/keywords/equity', 'display_name': 'Equity (law)', 'score': 0.55811083}, {'id': 'https://openalex.org/keywords/treasury', 'display_name': 'Treasury', 'score': 0.5286974}, {'id': 'https://openalex.org/keywords/asset-pricing', 'display_name': 'Asset Pricing', 'score': 0.517601}, {'id': 'https://openalex.org/keywords/behavioral-finance', 'display_name': 'Behavioral Finance', 'score': 0.509686}, {'id': 'https://openalex.org/keywords/leverage', 'display_name': 'Leverage (statistics)', 'score': 0.49747995}], 'concepts': [{'id': 'https://openalex.org/C2776174256', 'wikidata': 'https://www.wikidata.org/wiki/Q830842', 'display_name': 'BETA (programming language)', 'level': 2, 'score': 0.7107191}, {'id': 'https://openalex.org/C69738904', 'wikidata': 'https://www.wikidata.org/wiki/Q11693', 'display_name': 'Bond', 'level': 2, 'score': 0.63964546}, {'id': 'https://openalex.org/C106306483', 'wikidata': 'https://www.wikidata.org/wiki/Q183984', 'display_name': 'Futures contract', 'level': 2, 'score': 0.61745405}, {'id': 'https://openalex.org/C183582576', 'wikidata': 'https://www.wikidata.org/wiki/Q184783', 'display_name': 'Market liquidity', 'level': 2, 'score': 0.60170186}, {'id': 'https://openalex.org/C199728807', 'wikidata': 'https://www.wikidata.org/wiki/Q2578557', 'display_name': 'Equity (law)', 'level': 2, 'score': 0.55811083}, {'id': 'https://openalex.org/C106159729', 'wikidata': 'https://www.wikidata.org/wiki/Q2294553', 'display_name': 'Financial economics', 'level': 1, 'score': 0.52982837}, {'id': 'https://openalex.org/C2780889827', 'wikidata': 'https://www.wikidata.org/wiki/Q10756188', 'display_name': 'Treasury', 'level': 2, 'score': 0.5286974}, {'id': 'https://openalex.org/C556758197', 'wikidata': 'https://www.wikidata.org/wiki/Q580018', 'display_name': 'Monetary economics', 'level': 1, 'score': 0.50447357}, {'id': 'https://openalex.org/C153083717', 'wikidata': 'https://www.wikidata.org/wiki/Q6535263', 'display_name': 'Leverage (statistics)', 'level': 2, 'score': 0.49747995}, {'id': 'https://openalex.org/C162324750', 'wikidata': 'https://www.wikidata.org/wiki/Q8134', 'display_name': 'Economics', 'level': 0, 'score': 0.4759419}, {'id': 'https://openalex.org/C144133560', 'wikidata': 'https://www.wikidata.org/wiki/Q4830453', 'display_name': 'Business', 'level': 0, 'score': 0.41703615}, {'id': 'https://openalex.org/C10138342', 'wikidata': 'https://www.wikidata.org/wiki/Q43015', 'display_name': 'Finance', 'level': 1, 'score': 0.27041346}, {'id': 'https://openalex.org/C41008148', 'wikidata': 'https://www.wikidata.org/wiki/Q21198', 'display_name': 'Computer science', 'level': 0, 'score': 0.0}, {'id': 'https://openalex.org/C199360897', 'wikidata': 'https://www.wikidata.org/wiki/Q9143', 'display_name': 'Programming language', 'level': 1, 'score': 0.0}, {'id': 'https://openalex.org/C166957645', 'wikidata': 'https://www.wikidata.org/wiki/Q23498', 'display_name': 'Archaeology', 'level': 1, 'score': 0.0}, {'id': 'https://openalex.org/C119857082', 'wikidata': 'https://www.wikidata.org/wiki/Q2539', 'display_name': 'Machine learning', 'level': 1, 'score': 0.0}, {'id': 'https://openalex.org/C199539241', 'wikidata': 'https://www.wikidata.org/wiki/Q7748', 'display_name': 'Law', 'level': 1, 'score': 0.0}, {'id': 'https://openalex.org/C17744445', 'wikidata': 'https://www.wikidata.org/wiki/Q36442', 'display_name': 'Political science', 'level': 0, 'score': 0.0}, {'id': 'https://openalex.org/C95457728', 'wikidata': 'https://www.wikidata.org/wiki/Q309', 'display_name': 'History', 'level': 0, 'score': 0.0}], 'mesh': [], 'locations_count': 2, 'locations': [{'is_oa': True, 'landing_page_url': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'pdf_url': None, 'source': {'id': 'https://openalex.org/S149240962', 'display_name': 'Journal of Financial Economics', 'issn_l': '0304-405X', 'issn': ['0304-405X', '1879-2774'], 'is_oa': False, 'is_in_doaj': False, 'is_core': True, 'host_organization': 'https://openalex.org/P4310320990', 'host_organization_name': 'Elsevier BV', 'host_organization_lineage': ['https://openalex.org/P4310320990'], 'host_organization_lineage_names': ['Elsevier BV'], 'type': 'journal'}, 'license': 'cc-by-nc-nd', 'license_id': 'https://openalex.org/licenses/cc-by-nc-nd', 'version': 'publishedVersion', 'is_accepted': True, 'is_published': True}, {'is_oa': True, 'landing_page_url': 'https://research.cbs.dk/en/publications/4ce07b53-8530-4773-a7bd-525b4d229f40', 'pdf_url': 'https://research.cbs.dk/files/60082899/lasse_heje_pedersen_et_al_betting_against_beta_publishersversion.pdf', 'source': {'id': 'https://openalex.org/S4306401458', 'display_name': 'CBS Research Portal (Copenhagen Business School)', 'issn_l': None, 'issn': None, 'is_oa': True, 'is_in_doaj': False, 'is_core': False, 'host_organization': 'https://openalex.org/I180519160', 'host_organization_name': 'Copenhagen Business School', 'host_organization_lineage': ['https://openalex.org/I180519160'], 'host_organization_lineage_names': ['Copenhagen Business School'], 'type': 'repository'}, 'license': 'cc-by-nc-nd', 'license_id': 'https://openalex.org/licenses/cc-by-nc-nd', 'version': 'publishedVersion', 'is_accepted': True, 'is_published': True}], 'best_oa_location': {'is_oa': True, 'landing_page_url': 'https://doi.org/10.1016/j.jfineco.2013.10.005', 'pdf_url': None, 'source': {'id': 'https://openalex.org/S149240962', 'display_name': 'Journal of Financial Economics', 'issn_l': '0304-405X', 'issn': ['0304-405X', '1879-2774'], 'is_oa': False, 'is_in_doaj': False, 'is_core': True, 'host_organization': 'https://openalex.org/P4310320990', 'host_organization_name': 'Elsevier BV', 'host_organization_lineage': ['https://openalex.org/P4310320990'], 'host_organization_lineage_names': ['Elsevier BV'], 'type': 'journal'}, 'license': 'cc-by-nc-nd', 'license_id': 'https://openalex.org/licenses/cc-by-nc-nd', 'version': 'publishedVersion', 'is_accepted': True, 'is_published': True}, 'sustainable_development_goals': [{'display_name': 'Partnerships for the goals', 'id': 'https://metadata.un.org/sdg/17', 'score': 0.59}], 'grants': [], 'datasets': [], 'versions': [], 'referenced_works_count': 55, 'referenced_works': ['https://openalex.org/W1561911245', 'https://openalex.org/W1567946811', 'https://openalex.org/W1575641806', 'https://openalex.org/W1607636060', 'https://openalex.org/W1963969817', 'https://openalex.org/W1984272629', 'https://openalex.org/W1990166247', 'https://openalex.org/W1995834279', 'https://openalex.org/W2043619364', 'https://openalex.org/W2045701221', 'https://openalex.org/W2049830183', 'https://openalex.org/W2062229217', 'https://openalex.org/W2064356429', 'https://openalex.org/W2070399597', 'https://openalex.org/W2072980348', 'https://openalex.org/W2083558552', 'https://openalex.org/W2084050624', 'https://openalex.org/W2085317472', 'https://openalex.org/W2108818539', 'https://openalex.org/W2109718988', 'https://openalex.org/W2113208252', 'https://openalex.org/W2113305199', 'https://openalex.org/W2117178635', 'https://openalex.org/W2136120210', 'https://openalex.org/W2142272528', 'https://openalex.org/W2157969799', 'https://openalex.org/W2166215547', 'https://openalex.org/W2166299790', 'https://openalex.org/W2169607556', 'https://openalex.org/W2312560584', 'https://openalex.org/W2768156240', 'https://openalex.org/W3021190191', 'https://openalex.org/W3023906401', 'https://openalex.org/W3121239645', 'https://openalex.org/W3121451334', 'https://openalex.org/W3121453935', 'https://openalex.org/W3121508937', 'https://openalex.org/W3121630491', 'https://openalex.org/W3122225907', 'https://openalex.org/W3122244915', 'https://openalex.org/W3122890729', 'https://openalex.org/W3122942322', 'https://openalex.org/W3123010909', 'https://openalex.org/W3123119769', 'https://openalex.org/W3123359344', 'https://openalex.org/W3123443250', 'https://openalex.org/W3123872330', 'https://openalex.org/W3123974814', 'https://openalex.org/W3124639629', 'https://openalex.org/W3124715089', 'https://openalex.org/W3125496416', 'https://openalex.org/W3125499890', 'https://openalex.org/W3125589340', 'https://openalex.org/W3125717248', 'https://openalex.org/W4212958238'], 'related_works': ['https://openalex.org/W3147192130', 'https://openalex.org/W3122902554', 'https://openalex.org/W3121170756', 'https://openalex.org/W3010769053', 'https://openalex.org/W2595814987', 'https://openalex.org/W2482004464', 'https://openalex.org/W2383276925', 'https://openalex.org/W2379114542', 'https://openalex.org/W2370750334', 'https://openalex.org/W2255786044'], 'abstract_inverted_index': {'We': [0, 15], 'present': [1], 'a': [2], 'model': [3], 'with': [4, 19, 39], 'leverage': [5], 'and': [6, 13, 57, 72], 'margin': [7], 'constraints': [8, 84], 'that': [9], 'vary': [10], 'across': [11], 'investors': [12, 30, 106], 'time.': [14], 'find': [16, 44], 'evidence': [17], 'consistent': [18], 'each': [20], 'of': [21, 88], 'the': [22, 86, 89], "model's": [23], 'five': [24], 'central': [25], 'predictions:': [26], '(1)': [27], 'Because': [28], 'constrained': [29, 105], 'bid': [31], 'up': [32], 'high-beta': [33, 74], 'assets,': [34, 75], 'high': [35], 'beta': [36, 63], 'is': [37, 67, 92], 'associated': [38], 'low': [40], 'alpha,': [41], 'as': [42], 'we': [43], 'empirically': [45], 'for': [46], 'US': [47], 'equities,': [48], '20': [49], 'international': [50], 'equity': [51], 'markets,': [52], 'Treasury': [53], 'bonds,': [54, 56], 'corporate': [55], 'futures.': [58], '(2)': [59], 'A': [60], 'betting': [61], 'against': [62], '(BAB)': [64], 'factor,': [65], 'which': [66], 'long': [68], 'leveraged': [69], 'low-beta': [70], 'assets': [71], 'short': [73], 'produces': [76], 'significant': [77], 'positive': [78], 'risk-adjusted': [79], 'returns.': [80], '(3)': [81], 'When': [82], 'funding': [83, 96], 'tighten,': [85], 'return': [87], 'BAB': [90], 'factor': [91], 'low.': [93], '(4)': [94], 'Increased': [95], 'liquidity': [97], 'risk': [98], 'compresses': [99], 'betas': [100], 'toward': [101], 'one.': [102], '(5)': [103], 'More': [104], 'hold': [107], 'riskier': [108], 'assets.': [109]}, 'cited_by_api_url': 'https://api.openalex.org/works?filter=cites:W3123639445', 'counts_by_year': [{'year': 2024, 'cited_by_count': 114}, {'year': 2023, 'cited_by_count': 173}, {'year': 2022, 'cited_by_count': 159}, {'year': 2021, 'cited_by_count': 212}, {'year': 2020, 'cited_by_count': 198}, {'year': 2019, 'cited_by_count': 175}, {'year': 2018, 'cited_by_count': 185}, {'year': 2017, 'cited_by_count': 158}, {'year': 2016, 'cited_by_count': 133}, {'year': 2015, 'cited_by_count': 114}, {'year': 2014, 'cited_by_count': 80}, {'year': 2013, 'cited_by_count': 33}, {'year': 2012, 'cited_by_count': 14}], 'updated_date': '2024-09-13T20:50:28.895668', 'created_date': '2021-02-01'}