The authors are responsible for sending for review and publication only new and original works that have not been published elsewhere or sent for evaluation to any other journals.

The Review of Finance and Banking does not charge any processing, submission or publication fees.

The corresponding authors are responsible to insure that all authors agreed to send the paper for review to the Review of Finance and Banking.

The paper sent for review must be accompanied by a cover letter in which the author states that the above mentioned requirements are fulfilled. The cover letter must also mention which of the following areas the article belongs to:

  • behavioural finance
  • corporate finance
  • corporate governance
  • financial institutions
  • financial markets
  • fintech and cryptocurrencies
  • green finance
  • Insurance
  • international finance
  • investments
  • market microstructure
  • monetary and fiscal policies
  • portfolio management
  • real estate
  • valuation

Changes regarding the addition, deletion or rearrangement of author names in the authorship section are allowed only as exceptions and based on solid arguments. Thus, requests to add or remove an author, or to rearrange the author names, must be sent to the Editorial Manager by the Corresponding Author and must include: (a) the reason of the change required; and, (b) the written confirmation (e-mail, fax, letter) from all authors that they agree with the addition, removal or rearrangement. In the case of addition or removal of authors, this includes confirmation from the author being added or removed. If the request is initiated by another author, the Journal will inform the corresponding author to comply with the procedure above. The publication of the accepted manuscript in an online issue is suspended until the change of authorship procedure has been completed.

Changes notified after the accepted manuscript is published in an online issue: Any requests to add, delete, or rearrange author names in an article published in an online issue will follow the same policies as noted above and will be reflected in a corrigendum.


Review of Finance and Banking (RFB) - Guidelines for Manuscript Preparation

All manuscripts will be written in English and will be submitted electronically. The manuscripts will be sent to the Review of Finance and Banking official e-mail address:

Articles will be edited and submitted in MS Office Word to facilitate the text editing process. They should be formatted using 12 Times New Roman fonts, should be spaced to 1.5 to 2 lines, and should have normal margins. As a rule, papers cannot exceed 50 or 60 pages. Exceptions will be made in extraordinary circumstances and will be approved in advance by the Managing Editor.

No formatting or as little formatting as possible should be included beyond those recommended by these guidelines. Kindly note that excessive formatting makes the text editing process more difficult and is likely to delay the publication of the article.


Title Page

All submissions should include a title page which is separated from the rest of the paper. The title page should include the title of the paper, abstract, list of keywords, names, affiliations and addresses of the authors.

  • Title: The title should be clear and informative. Ideally, both a short and a long title will be included.
  • Abstract: The abstract should be concise, no longer than 100 words, and should be descriptive of the content of the paper.
  • Keywords: Three of four keywords revealing of the topic of the paper, methodology, and/ or theoretical approach should be included as well.
  • JEL Classification: One to three JEL Classification codes should be added to the keywords to help readers situate the paper thematically.
  • Authors: The names and affiliation of all authors should be included in the title page. These should consist of first name and surname, ORCID code, academic degree (e.g, doctoral student, Ph.D., etc.), academic position (e.g., Lecturer, Professor, Postdoctoral Fellow, etc.), department and university with which the authors are affiliated (Independent Scholar or corporate affiliation should be mentioned for researchers having no university position), institutional correspondence address, phone number and (preferably) institutional address.
  • Corresponding author: The corresponding author should be mentioned from the initial submission and will be responsible for handling the relation with the RFB editor and editorial staff.


Paper body

The paper body should be structured adequately and comprise of introduction, several sections and subsections, and conclusion. The body should make ample reference to the literature(s) to which the paper contributes and should include evidence of the data, empirical studies, and/ or numerical manipulations that ground the conclusions reached by the authors.

  • Tables:
    Tables can appear in the body of the text (but not in Introduction or Conclusion) or in the Appendix. Please number the tables uniformly, label and/ or define categories clearly, and try to structure them for clarity. Keep the formatting of the table to a minimum, do not use different colors to underline specific information in the tables, and split data into several smaller tables rather than crowding it in an excessively large table. Tables should have a portrait orientation and should have no more than 10 rows of data. They should be self-contained and easy to understand without additional information. However, if the description of your categories becomes too long, try to include that in an appendix rather than in the table located in the body of the paper. Also, if you plan to include a lot of text in table, think about the alternative of synthesizing that information in a paragraph of the regular text rather than in tabular form. If you decide to include special formatting for your tables, please make sure to submit the unformatted versions as well in a separate document! Indicate the location of the tables at the beginning of the relevant paragraphs.
  • Footnotes:
    Embedded citations should be used whenever possible. All citations in the text should use a uniform style and should refer to:
    1. Single author: the author's name (without initials, unless there is ambiguity) and the year of publication;
    2. Two authors: both authors' names and the year of publication;
    3. Three or more authors: first author's name followed by "et al." and the year of publication.
    4. Groups of references should be listed first chronologically, then alphabetically.
  • Example: "as demonstrated ( Nurudeen 2009 ; Todea et al. 2009 ; Netinyom 2016, etc. ). Roy (20 2 0) ha s recently shown ...."

    While it is recommended that in-text citations are as detailed as possible (see the examples in the next section), citations should be appropriate to their purpose. For instance, when citing specific arguments/ models/ formulas/ data in an article, it is recommended that embedded citations include information about the author(s), year of publication and page(s) where the information can be found. At the same time, when the overall argument or approach of a publication is referenced, the author(s) and publication year might be sufficient/ more parsimonious for in-text citations.

    As exceptions, when making connections with databases, specific regulations, etc., or when necessary to clarify something in the main text, footnotes can be included at the bottom of the page but they should be kept as brief as possible. All footnotes should be properly and uniformly numbered using Arab numerals.

  • Formulas
    Write all but very small formulas and relations on separate rows. Number al formulas consecutively and use a single format for numbering throughout the entire paper. Make sure to check the correspondence between equation numbers and in-text references to equations if you have to resubmit several versions of your paper. Write the equations using a Word equation editor and do not include mathematical symbols cropped from image or pdf files. Double-check the correctness of equations and symbols as well as the identity of the relations if used in several places in the paper.

  • Images and Figures

    Include images and figures in text or at the end of the document, as well as copies of the images/ figures in separate files. Please make sure you keep the size of image files within reasonable size (max. 3 MB) and that you are ready to work with the editor of the journal to transform the images in order to speed up the editing process. Please give a descriptive title to each image/ figure and explain the source of data/ information revealed by it. Use a title and a caption for each figure and make sure that the axes are properly labeled. Indicate the location of figures/ images at the beginning of the relevant paragraphs.



The Review of Finance and Banking implements the Author-Date citation system of the Chicago Manual of Style. For a detailed presentation of the citation rules and numerous citation examples, please consult the Chicago Manual of Style Online ( ) or the Chicago Manual of Style. Seventeenth edition. Chicago and London: The University of Chicago Press, 2017.

Try not overloading the bibliography with too many items: generally, one bibliographic reference for every page of the article is a good density. Also, check the correspondence between the in-text citations/footnote references and the list of items in the bibliography.

A model for bibliography formatting is available below and has been adapted from the Chicago Manual of Style Online.


Multiple sources by the same author

References should be formatted uniformly and follow the unique style. References should be arranged first alphabetically and then further sorted chronologically if necessary. More than one reference from the same author(s) in the same year must be identified by the letters "a", "b", "c", etc., placed after the year of publication, as in the examples below:

Reference list entries
Fogel, Robert William. 2004a. The Escape from Hunger and Premature Death, 1700-2100: Europe, America, and the Third World. New York: Cambridge University Press.
--. 2004b. "Technophysio Evolution and the Measurement of Economic Growth." Journal of Evolutionary Economics 14, no. 2 (June) : 217-21. 004-0188-x.

In-text citations
(Fogel 2004b, 218)
(Fogel 2004a, 45-46)



Reference list entries
- Strayed, Cheryl. 2012. Wild: From Lost to Found on the Pacific Crest Trail. New York: Alfred A. Knopf.
- Daum, Meghan, ed. 2015. Selfish, Shallow, and Self-Absorbed: Sixteen Writers on the Decision Not to Have Kids. New York: Picador.
- Grazer, Brian, and Charles Fishman. 2015. A Curious Mind: The Secret to a Bigger Life. New York: Simon & Schuster.
- Garcia Marquez, Gabriel. 1988. Love in the Time of Cholera. Translated by Edith Grossman. London: Cape.

In-text citations
(Strayed 2012, 87-88)
(Strayed 2012, 261, 265)
(Daum 2015, 32)
(Grazer and Fishman 2015, 188)
(Garcia Marquez 1988, 242-55)

In case of book with four or more authors, include all the authors in the reference list entry but cite only the last name of the first-listed author, followed by et al. in text.
(Hacek et al. 2015, 384)


Chapter or other part of an edited book

In the reference list, include the page range for the chapter or part. In the text, cite specific pages.

Reference list entry: Gould, Glenn. 1984. "Streisand as Schwarzkopf." In The Glenn Gould Reader, edited by Tim Page, 308-11. New York: Vintage Books.

In-text citation: (Gould 1984, 310)



For books consulted online, include a URL or the name of the database in the reference list entry.

Reference list entries (in alphabetical order)
- Borel, Brooke. 2016. The Chicago Guide to Fact-Checking. Chicago: University of Chicago Press. ProQuest Ebrary.
- Melville, Herman. 1851. Moby-Dick; or, The Whale. New York: Harper & Brothers.

In-text citations
(Borel 2016, 92)
(Kurland and Lerner 1987, chap. 10, doc. 19)


Journal article

Reference list entries: Bagley, Benjamin. 2015. "Loving Someone in Particular." Ethics 125, no. 2 (January): 477-507.

In-text citations: (Bagley 2015, 484-85)


Journal articles with many authors

Reference list entry: Bay, Rachael A., Noah Rose, Rowan Barrett, Louis Bernatchez, Cameron K. Ghalambor, Jesse R. Lasky, Rachel B. Brem, Stephen R. Palumbi, and Peter Ralph. 2017. “Predicting Responses to Contemporary Environmental Change Using Evolutionary Response Architectures.” American Naturalist 189, no. 5 (May): 463–73.

In-text citation: (Bay et al. 2017, 465)


Journal article consulted online

Reference list entries: Liu, Jui-Ch'i. 2015. "Beholding the Feminine Sublime: Lee Miller's War Photography." Signs 40, no. 2 (Winter) : 308-19. .

In-text citations: (Liu 2015, 312)


Newspapers or magazine articles

Reference list entries
- Kauffman, Stanley. 1989. Review of A Dry White Season (film), directed by Euzhan Paley. New Republic, October 9, 1989, 24-25.
- Meikle, James. 2015. "Nearly 75% of Men and 65% of Women in UK to Be Overweight by 2030-Study." Guardian (UK edition), May 5, 2015. .

New York Times. 2002. "In Texas, Ad Heats Up Race for Governor." July 30, 2002.

In-text citation
(Kauffman 1989)
(Meikle 2015)
(New York Times 2002)


Book review

Reference list entry: Kakutani, Michiko. 2016. “Friendship Takes a Path That Diverges.” Review of Swing Time, by Zadie Smith. New York Times, November 7, 2016.

In-text citation: (Kakutani 2016)



Reference list entry: Stamper, Kory. 2017. “From ‘F-Bomb’ to ‘Photobomb,’ How the Dictionary Keeps Up with English.” Interview by Terry Gross. Fresh Air, NPR, April 19, 2017. Audio, 35:25.

In-text citation: (Stamper 2017)


Thesis or dissertation

Reference list entry: Rutz, Cynthia Lillian. 2013. “King Lear and Its Folktale Analogues.” PhD diss., University of Chicago.

In-text citation: (Rutz 2013, 99–100)


Website content

For a source that does not list a date of publication or revision, use n.d. (for “no date”) in place of the year and include an access date.

Reference list entries
- Google. 2017. “Privacy Policy.” Privacy & Terms. Last modified April 17, 2017.
- Yale University. n.d. “About Yale: Yale Facts.” Accessed May 1, 2017.

In-text citations
(Google 2017)
(Yale University, n.d.)

For citation rules, sources and examples see the Chicago Manual of Style Online ( ) or the Chicago Manual of Style. Seventeenth edition. Chicago and London: The University of Chicago Press, 2017.



Annexes should be properly numbered and should include material that, although too lengthy to be inserted in the main text, is clearly necessary to support/ illustrate the arguments made in the body of the text. Very large table and complicated graphical structures should be avoided. Wherever possible, detailed mathematical analysis should be placed in an Appendix.


Internet Appendix

Additional materials should be placed in an Internet Appendix. These will not count towards the total page limit of the paper. The authors are responsible for maintaining the internet Appendix Available for free access to the reader on the institutional page of the corresponding author or on portals such as or Research Gate. The paper should be self-contained, clear and easy to understand even without the materials included in the Internet Appendix. A link to the appendix should be included in the paper together with a brief description of the materials readers can expect to find there. Granted that the internet appendix does not include too large programmes and/ or databases, the Review of Finance and Banking will try to include the content of the internet appendix with the online version of the article published on the RFB website. The Internet Appendix should be properly identified and titled and included at the end of your manuscript. The content of the Internet Appendix should be clear, easy to identify and related to the content of the paper.



The code used by your paper should be made available to the editors prior to the publication of your paper. The code should be posted on the Internet Appendix the authors are responsible to create and maintain, as well as on the website of the journal next to the published article. Any request for exemptions from this policy should be addressed in writing to the editor of the Review of Finance and Banking.



Please disclose the source of all date used in the paper. Please include an agreement from the owners of proprietary data (in case you rely on such a source) allowing you to publish the results drawing on those data series in the Review of Finance and Banking.


Grammar and Spelling

Please spell-check your paper thoroughly and review it for grammar errors. In case you are not a native speaker of English, it is advisable to have it read and revised for grammar and spelling by either a professional English language service or (at least) by a native speaker of English. The RFB editors cannot assume this task but can return your paper for completing it and this can delay the publication of your paper.


Editorial Suggestions

For empirical papers, a recommended structure includes: introduction, background, methodology, data description, results and discussion, conclussion.

The introduction  should include a statement of the problem being addressed, why it is important, and to whom it is important. How is the study related to other work? Is it an extension? Major or minor? Is it a correction or difference of interpretation? What is the main contribution of this study?

The conclusion  should tell the reader clearly what the paper finds or demonstrates. It should be consistent with the objectives set forth in the Introduction. It should describe the implications of the results for researchers, traders, policy makers, etc.


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