The Journal of Business

1928 - 2006

from University of Chicago Press
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2006, volume 79, issue 6

Endogeneity and Simultaneity in Competitive Pricing and Advertising: A Logit Demand Analysis pp. 2761-2788

Pradeep K. Chintagunta, Vrinda Kadiyali and Naufel J. Vilcassim

Variable Pricing in Oligopoly Markets pp. 2789-2810

Frank Bass

Who Is Afraid of Reg FD? The Behavior and Performance of Sell-Side Analysts Following the SEC's Fair Disclosure Rules pp. 2811-2834

Anup Agrawal, Sahiba Chadha and Mark A. Chen

Asset Prices and Consumption in a Model of Perpetual Youth pp. 2835-2868

Stefano G. Athanasoulis

Changes in Institutional Ownership and Stock Returns: Assessment and Methodology pp. 2869-2910

Richard W. Sias and Laura T. Starks

Prevention Is Better than Cure: The Role of IPO Syndicates in Precluding Information Acquisition pp. 2911-2924

Yoram Barzel

Are Firms Successful at Selective Hedging? pp. 2925-2950

Gregory W. Brown, Peter Crabb and David Haushalter

Multifactor Efficiency and Bayesian Inference pp. 2951-2998

K. J. Martijn Cremers

Corporate Governance and Conditional Skewness in the World's Stock Markets pp. 2999-3028

Kee-Hong Bae

Stock Return Cross-Autocorrelations and Market Conditions in Japan pp. 3029-3056

Allaudeen Hameed and Yuanto Kusnadi

Monitoring the Monitors: The Corporate Governance in Japanese Banks and Their Real Estate Lending in the 1980s pp. 3057-3082

I. Serdar Dinç

Interest Rate Term Structure Modeling Using Free-Knot Splines pp. 3083-3100

Fernando Fernández-Rodríguez

The Impact of Capital Structure on Advertising Competition: An Empirical Study pp. 3101-3124

Gustavo Grullon and George Kanatas

Idiosyncratic Volatility and Product Market Competition pp. 3125-3152

José-Miguel Gaspar

Asymmetric Stationarity in National Stock Market Indices: An MTAR Analysis pp. 3153-3174

James K. Self

Corporate Leverage and Product Differentiation Strategy pp. 3175-3208

Stefan Arping and Gyöngyi Lóránth

Fifteen Minutes of Fame? The Market Impact of Internet Stock Picks pp. 3209-3251

Peter Antunovich and Asani Sarkar

2006, volume 79, issue 5

Do New Major League Ballparks Pay for Themselves? pp. 2275-2300

Marc Poitras

Information Flow and Liquidity around Anticipated and Unanticipated Dividend Announcements pp. 2301-2336

John R. Graham, Jennifer Lynch Koski and Uri Loewenstein

The Market Price of Risk in Interest Rate Swaps: The Roles of Default and Liquidity Risks pp. 2337-2360

Jun Liu, Francis A. Longstaff and Ravit E. Mandell

Price versus Quantity Monitoring pp. 2361-2380

Ramarao Desiraju

Capital Structure and Interaction among Firms in Output Markets: Theory and Evidence pp. 2381-2422

Evgeny Lyandres

Does Stock Return Predictability Imply Improved Asset Allocation and Performance? Evidence from the U.S. Stock Market (1954–2002) pp. 2423-2468

Puneet Handa

Capital Structure, Debt Maturity, and Stochastic Interest Rates pp. 2469-2502

Nengjiu Ju and Hui Ou-Yang

Post-takeover Restructuring and the Sources of Gains in Foreign Takeovers: Evidence from U.S. Targets pp. 2503-2538

Jun-Koo Kang, Jin-Mo Kim and Wei-Lin Liu

Do Investors Integrate Losses and Segregate Gains? Mental Accounting and Investor Trading Decisions pp. 2539-2574

Sonya Seongyeon Lim

Bundling, Entry Deterrence, and Specialist Innovators pp. 2575-2594

Jay Pil Choi and Christodoulos Stefanadis

The Relationship between the Value Effect and Industry Affiliation pp. 2595-2616

John C. Banko and C. Mitchell Conover

Anomalies in Stock Market Pricing: Problems in Return Measurements pp. 2617-2632

Wentworth Boynton and Henry R. Oppenheimer

The Macroeconomic News Cycle and Uncertainty Resolution pp. 2633-2658

Arjun Chatrath, Rohan Christie-David and William T. Moore

Exotics and Electrons: Electric Power Crises and Financial Risk Management pp. 2659-2696

Suman Banerjee

Daily Return Volatility, Bid-Ask Spreads, and Information Flow: Analyzing the Information Content of Volume pp. 2697-2740

Jinliang Li and Chunchi Wu

The "Ostrich Effect" and the Relationship between the Liquidity and the Yields of Financial Assets pp. 2741-2759

Dan Galai

2006, volume 79, issue 4

Hot Markets, Investor Sentiment, and IPO Pricing pp. 1667-1702

Alexander Ljungqvist, Vikram Nanda and Rajdeep Singh

Unusual Option Market Activity and the Terrorist Attacks of September 11, 2001 pp. 1703-1726

Allen M. Poteshman

Further Evidence on Closed-End Country Fund Prices and International Capital Flows pp. 1727-1754

George Nishiotis

Gains from Trade under Uncertainty: The Case of Electric Power Markets pp. 1755-1782

Hendrik Bessembinder and Michael L. Lemmon

On the Use of Poison Pills and Defensive Payouts by Takeover Targets pp. 1783-1808

Randall A. Heron and Erik Lie

Asymmetry, Loss Aversion, and Forecasting pp. 1809-1830

Shaun A. Bond

An Experimental Exploration of Self-Fulfilling Banking Panics: Their Occurrence, Persistence, and Prevention pp. 1831-1866

Philippe Madiès

So What Orders Do Informed Traders Use? pp. 1867-1914

Ron Kaniel and Hong Liu

Stock Market Manipulations pp. 1915-1954

Rajesh K. Aggarwal and Guojun Wu

Investigating the Role of Systematic and Firm-Specific Factors in Default Risk: Lessons from Empirically Evaluating Credit Risk Models pp. 1955-1988

Gurdip Bakshi, Dilip Madan and Frank Xiaoling Zhang

Governance Structure Changes and Product Market Competition: Evidence from U.S. Electric Utility Deregulation pp. 1989-2018

Craig G. Rennie

Pricing and Packaging: The Case of Marijuana pp. 2019-2044

Kenneth W. Clements

The Share Price Puzzle pp. 2045-2066

Edward A. Dyl

The Nontradability Premium of Derivatives Contracts pp. 2067-2098

Rafi Eldor, Shmuel Hauser, Michael Kahn and Avraham Kamara

The Impact of ATM Surcharges on Large versus Small Banks: Is There a Switching Effect? pp. 2099-2126

Nadia Massoud, Anthony Saunders and Barry Scholnick

On the Information Uncertainty Risk and the January Effect pp. 2127-2162

Dongcheol Kim

Optimal Bank Capital with Costly Recapitalization pp. 2163-2202

Samu Peura and Jussi Keppo

How Important Is Intertemporal Risk for Asset Allocation? pp. 2203-2242

Bruno Gerard and Guojun Wu

Stock Market Quality in the Presence of a Traded Option pp. 2243-2274

Cyriel de Jong, Kees G. Koedijk and Charles R. Schnitzlein

2006, volume 79, issue 3

Team Composition pp. 1019-1040

Antonio S. Mello

Earnings Quality and Stock Returns pp. 1041-1082

Konan Chan, Louis K. C. Chan, Narasimhan Jegadeesh and Josef Lakonishok

The Determinants of Venture Capital Portfolio Size: Empirical Evidence pp. 1083-1126

Douglas J. Cumming

Agency and Corporate Investment: The Role of Executive Compensation and Corporate Governance pp. 1127-1148

Sok-Hyon Kang, Praveen Kumar and Hyunkoo Lee

God Save the Queen and Her Dividends: Corporate Payouts in the United Kingdom pp. 1149-1174

Stephen P. Ferris, Nilanjan Sen and Ho Pei Yui

Price Dispersion in the Grocery Market pp. 1175-1192

Ying Zhao

The Role of Asymmetries and Regime Shifts in the Term Structure of Interest Rates pp. 1193-1224

Richard H. Clarida, Lucio Sarno, Mark P. Taylor and Giorgio Valente

Understanding the Fine Structure of Electricity Prices pp. 1225-1262

Hélyette Geman and Andrea Roncoroni

Is Time-Series-Based Predictability Evident in Real Time? pp. 1263-1292

Michael Cooper and Huseyin Gulen

Improving the Design of Treasury Bond Futures Contracts pp. 1293-1316

Rodolfo Oviedo

Capital Asset Prices with Heterogeneous Beliefs pp. 1317-1354

Haim Levy

Should Banks Be Diversified? Evidence from Individual Bank Loan Portfolios pp. 1355-1412

Viral V. Acharya, Iftekhar Hasan and Anthony Saunders

Expropriation vs. Proportional Sharing in Corporate Acquisitions pp. 1413-1444

Mara Faccio and David Stolin

Dampened Power Law: Reconciling the Tail Behavior of Financial Security Returns pp. 1445-1474

Liuren Wu

Selective Hedging, Information Asymmetry, and Futures Prices pp. 1475-1502

April Knill, Kristina Minnick and Ali Nejadmalayeri

Do Artists Benefit from Online Music Sharing? pp. 1503-1534

Ram D. Gopal and G. Lawrence Sanders

Sources of Time Variation in the Covariance Matrix of Interest Rates pp. 1535-1550

Christophe Pérignon and Christophe Villa

Stochastic Volatility, Trading Volume, and the Daily Flow of Information pp. 1551-1590

Jeff Fleming, Chris Kirby and Barbara Ostdiek

Predictable Dynamics in the S&P 500 Index Options Implied Volatility Surface pp. 1591-1636

Sílvia Gonçalves and Massimo Guidolin

Sector Investment Growth Rates and the Cross Section of Equity Returns pp. 1637-1665

Qing Li, Maria Vassalou and Yuhang Xing

2006, volume 79, issue 2

The Subjective and Objective Evaluation of Incentive Stock Options pp. 453-488

Jonathan E. Ingersoll

On the Profitability of Media Mergers pp. 489-526

Esther Gal-Or and Anthony Dukes

Predictability in Emerging Sovereign Debt Markets pp. 527-566

Gergana Jostova

Nationwide Branching and Its Impact on Market Structure, Quality, and Bank Performance pp. 567-592

Astrid A. Dick

The Costs and Benefits of Moral Suasion: Evidence from the Rescue of Long-Term Capital Management pp. 593-622

Craig Furfine

Irreversible Investment under Interest Rate Variability: Some Generalizations pp. 623-644

Luis H. R. Alvarez and Erkki Koskela

On the Out-of-Sample Predictability of Stock Market Returns pp. 645-670

Hui Guo

The Impact of Short Selling on the Price-Volume Relationship: Evidence from Hong Kong pp. 671-692

Ólan T. Henry and Michael McKenzie

Reputation, Certification, Warranties, and Information as Remedies for Seller-Buyer Information Asymmetries: Lessons from the Online Comic Book Market pp. 693-730

Michaël Dewally and Louis Ederington

Temporal Resolution of Uncertainty and Corporate Debt Yields: An Empirical Investigation pp. 731-770

Alexander S. Reisz and Claudia Perlich

Hybrid Mutual Funds and Market Timing Performance pp. 771-798

George Comer

The Hedge Ratio and the Empirical Relationship between the Stock and Futures Markets: A New Approach Using Wavelet Analysis pp. 799-820

Francis In and Sangbae Kim

Promotions in the Internal and External Labor Market: Evidence from Professional Football Coaching Careers pp. 821-850

C. Edward Fee

Size, Leverage, Concentration, and R&D Investment in Generating Growth Opportunities pp. 851-876

Yew Kee Ho, Mira Tjahjapranata and Chee Meng Yap

On the Patterns and Wealth Effects of Vertical Mergers pp. 877-902

Joseph P. H. Fan and Vidhan K. Goyal

Relative Portfolio Performance Evaluation and Incentive Structure pp. 903-922

Yoon K. Choi

Asset Pricing When Returns Are Nonnormal: Fama-French Factors versus Higher-Order Systematic Comoments pp. 923-940

Y. Peter Chung and Michael J. Schill

A New Variance Bound on the Stochastic Discount Factor pp. 941-962

Raymond Kan and Guofu Zhou

Anatomy of a Government Intervention in Index Stocks: Price Pressure or Information Effects? pp. 963-986

Karan Bhanot

Merger Momentum and Investor Sentiment: The Stock Market Reaction to Merger Announcements pp. 987-1017

Richard Rosen

2006, volume 79, issue 1

Risk and Valuation under an Intertemporal Capital Asset Pricing Model pp. 1-36

Michael J. Brennan and Yihong Xia

On the Debt Capacity of Growth Options pp. 37-60

Michael J. Barclay and Erwan Morellec

A No-Arbitrage Approach to Range-Based Estimation of Return Covariances and Correlations pp. 61-74

Michael W. Brandt and Francis X. Diebold

Unifying Underreaction Anomalies pp. 75-114

Andrew Jackson

The Market Pricing of Implicit Options in Merger Collars pp. 115-136

Micah S. Officer

Planned Obsolescence and Social Welfare pp. 137-148

Atsuo Utaka

Sharpe and Treynor Ratios on Treasury Bonds pp. 149-180

Eugene A. Pilotte and Frederic P. Sterbenz

Connected Lending: Thailand before the Financial Crisis pp. 181-218

Chutatong Charumilind, Raja Kali and Yupana Wiwattanakantang

Dynamic Relations between International Equity and Currency Markets: The Role of Currency Order Flow pp. 219-258

Bill B. Francis, Iftekhar Hasan and Delroy M. Hunter

Why Did Individual Stocks Become More Volatile? pp. 259-292

Steven X. Wei and Chu Zhang

An Exact Bayes Test of Asset Pricing Models with Application to International Markets pp. 293-324

Doron Avramov and John C. Chao

Inventory Information pp. 325-364

Huining Henry Cao, Martin D. Evans and Richard K. Lyons

EMU and European Stock Market Integration pp. 365-392

Gikas A. Hardouvelis, Dimitrios Malliaropulos and Richard Priestley

An Empirical Evaluation of Behavioral Models Based on Decompositions of Stock Prices pp. 393-428

Bong-Soo Lee

Macromomentum: Returns Predictability in International Equity Indices pp. 429-451

Sanjeev Bhojraj