Prior Review Process

[Updated 7.25.22]


On June 1, 2020, the RCFS became the first finance journal to introduce an optional “Prior Review Process,” with the goal of efficiently arriving at decisions on papers that have already been refereed at other journals.

1. To be eligible for the Prior Review Process, the paper must have been submitted to, and received referee reports from, one or more of the following journals: American Economic Review, Econometrica, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Quarterly Journal of Economics, Review of Economic Studies and Review of Financial Studies.

2. If your paper has previously been submitted to any journal outside the above list, please use the standard submission procedure at RCFS.

3. When you submit a paper under the Prior Review Process:

(a) You must submit all correspondence from any submissions to the 8 journals listed above, including referee reports and editor decision letters. All this material should be included in a single PDF file. A failure to include all such correspondence will be considered a breach of trust, and will result in rejection of the paper.

(b) In your cover letter, clearly state what has changed in the paper since the last submission to one of the 8 journals listed above.

4. Any material sent in as part of this process will be treated by the RCFS as private and confidential.

5. When a paper is submitted under the Prior Review Process, the RCFS Editor handling the paper will read the paper and the correspondence from previous submissions, and may choose to either take a decision on the paper or to send the paper to referees.

6. If you have questions about the process, please e-mail the RCFS at

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