Literature Review — Critique

Reviewer: librarian-critic Target: quality_reports/literature-review.md Phase: Discovery (encouraging severity) Date: 2026-05-11

Round 1 — FAIL (73/100)

Initial issues: - M1 Suspected fabrication (Jegadeesh 2023 JFE) -10 - M2 Wrong author initial (Santa-Clara B. → P.) -3 - M3 No FM methods literature -8 - M4 Recency thin post-2020 -8 - M5 Explanation bucket leans 2010-2012 -4 - M6 Carhart/FF93 miscategorized -1 - M7 No proximity scoring -1 - M8 Frontier map underpowered -1

Round 2 — PASS (87/100)

Librarian addressed every R1 issue substantively: - Jegadeesh 2023 replaced with verified Jegadeesh, Noh, Pukthuanthong, Roll, Wang (2019) JFE 133(2): 273-298, re-bucketed to Methods. - Santa-Clara, P. corrected. - New Bucket (iv) Methods with Fama-MacBeth (1973), Shanken (1992), Petersen (2009). - Liu, Stambaugh, Yuan (2018 JFE) and Asness, Frazzini, Gormsen, Pedersen (2020 JFE) added. - Carhart 1997 and FF93 re-housed in “Benchmark Factor Models” sub-bucket with explicit non-explanation note. - Proximity labels on all 23 entries. - Frontier map lists 4 explicit empty cells.

Remaining advisory items (no remediation required)

  • A1 (-3). Fu (2009) coverage one-sided — Guo, Kassa, Ferguson (2014 JFQA) referenced parenthetically; could be promoted.
  • A2 (-3). No 2021-2024 entry in bucket (iii) (recency claim could harden).
  • A3 (-3). Two categorization edge cases: Barillas-Shanken (2018) sits better in Methods; Chen-Petkova (2012) is arguably direct precedent not context.
  • A4 (-2). No inline BibTeX (orchestrator persists separately).
  • A5 (-2). Gap statement could caveat that methods bucket is used not extended.

Verdict

PASS at Round 2. Pair converged within max-3-rounds. Artifact approved for advance to strategize phase.

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