The Financial Review

1984 - 2025

Current editor(s): Cynthia J. Campbell and Arnold R. Cowan

From Eastern Finance Association
Contact information at EDIRC.
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Asset Pricing and the Illiquidity Premium pp. 429-458: Howard W. Chan and Robert Faff
Performance of Enhanced Index and Quantitative Equity Funds pp. 459-479: Parvez Ahmed and Sudhir Nanda
Optimal Number of Stock Holdings in Mutual Fund Portfolios Based on Market Performance pp. 481-495: Hany A. Shawky and David Smith
Marketing Closed‐End Fund IPOs: An Analysis of the International Stock Funds pp. 497-518: David C. Leonard, Terry Nixon and David M. Shull
Bond Option Valuation for Non‐Markovian Interest Rate Processes pp. 519-532: Joel R. Barber
Return Characteristics of State‐Owned and Non‐State‐Owned Chinese A Shares pp. 533-548: Michael Seiler, David M. Harrison, Pim Vliet and Kit Ching Yeung
Post‐Merger Performance of Bank Holding Companies, 1987–1998 pp. 549-574: Morris Knapp, Alan Gart and David Becher
Do CRA‐Related Events Affect Shareholder Wealth? The Case of Bank Mergers pp. 575-586: Harold A. Black, Raphael Bostic, Breck L. Robinson and Robert L. Schweitzer

Nasdaq Trading and Trading Costs: 1993–2002 pp. 281-304: Bonnie F. Van Ness, Robert A. Van Ness and Richard S. Warr
Determinants of Bank Debt in a Continental Financial System: Evidence from Spanish Companies pp. 305-333: Pablo de Andrés Alonso, Félix López-Iturriaga, Juan A. Rodríguez Sanz and Eleuterio Vallelado González
Risk‐Adjusted Long‐Term Contrarian Profits: Evidence from Non‐S&P 500 High‐Volume Stocks pp. 335-359: Udomsak Wongchoti and Chong Soo Pyun
Capital Structure and the Ex‐Dividend Day Return pp. 361-379: Dan W. French, Paula L. Varson and Kenneth P. Moon
Asymmetric Volatility and Trading Activity in Index Futures Options pp. 381-407: Kam C. Chan, Louis T. W. Cheng and Peter P. Lung
Underpricing, Share Overhang, and Insider Selling in Follow‐on Offerings pp. 409-428: Shaorong Zhang

Asymmetric Information in the IPO Aftermarket pp. 131-153: Mingsheng Li, Thomas McInish and Udomsak Wongchoti
Who's Monitoring the Monitor? Do Outside Directors Protect Shareholders' Interests? pp. 155-172: Eric Helland and Michael Sykuta
Imperfect Information and Stock Market Volatility pp. 173-194: Jeffrey R. Gerlach
Price Movement Effects on the State of the Electronic Limit‐Order Book pp. 195-221: Yue‐cheong Chan
Specialist Risk Attitudes and the Bid‐Ask Spread pp. 223-255: Brian Prucyk
Director Quality and Firm Performance pp. 257-279: Lisa Fairchild and Joanne Li

Reflections on the Efficient Market Hypothesis: 30 Years Later pp. 1-9: Burton G. Malkiel
Distinguishing Between Rationales for Short‐Horizon Predictability of Stock Returns pp. 11-35: Avanidhar Subrahmanyam
Dividends, Corporate Monitors and Agency Costs pp. 37-65: Kenneth A. Borokhovich, Kelly R. Brunarski, Yvette Harman and James B. Kehr
FX Dynamics, Limited Participation, and the Forward Bias Anomaly pp. 67-93: O. Miguel Villanueva
Leverage and the Complexity of Takeovers pp. 95-112: Tomas Jandik and Anil K. Makhija
Trade Duration: Information and Trade Disposition pp. 113-129: Peter R. Locke and Zhan Onayev

Governance and Performance Implications of Diversification Strategies: Evidence from Large U.S. Firms pp. 489-526: Manohar Singh, Ike Mathur and Kimberly C. Gleason
Stock Returns and the Business Cycle pp. 527-547: Michael DeStefano
The Impact of Regulation Fair Disclosure on Information Asymmetry and Trading: An Intraday Analysis pp. 549-577: Chiraphol N. Chiyachantana, Christine X. Jiang, Nareerat Taechapiroontong and Robert A. Wood
Bank Loan Availability and Trade Credit Demand pp. 579-600: Morris G. Danielson and Jonathan A. Scott

The Puzzling Increase in the Underpricing of Seasoned Equity Offerings pp. 343-365: Kenneth Kim and Hyun‐Han Shin
Mixed Messages: Open‐Market Repurchases Following Stock Acquisitions pp. 367-387: Jann C. Howell and Janet D. Payne
Equity Ownership and Firm Value: Evidence from Targeted Stock Repurchases pp. 389-407: Saeyoung Chang and Michael Hertzel
Informed Trading Around Earnings Announcements: Another Look pp. 409-434: Dennis J. Whalen and Charles D. Collver
Pricing Efficiency in a Thin Market with Competitive Market Makers: Box Spread Strategies in the Hang Seng Index Options Market pp. 435-454: Joseph K. W. Fung, Henry M. K. Mok and Kenneth C. K. Wong
The Effect of Demand on Stock Prices: Evidence from Index Fund Rebalancing pp. 455-472: Ernest N. Biktimirov
An International Investigation of the Factors that Determine Conditional Gold Betas pp. 473-488: Robert Faff and David Hillier

Closed‐End Fund Discounts and Expected Investment Performance pp. 179-202: Robert Ferguson and Dean Leistikow
Bank Mergers and Insider Nontrading pp. 203-229: Tom Madison, Greg Roth and Andy Saporoschenko
The Pricing of Sequential Bank Loans pp. 231-253: Manoj Athavale and Robert O. Edmister
Specialists, Limit‐Order Traders, and the Components of the Bid‐Ask Spread pp. 255-270: Kee H. Chung, Bonnie F. Van Ness and Robert A. Van Ness
To Trade or Not to Trade: The Effect of Broker Search and Discretionary Trading on Securities Market Performance pp. 271-292: Wei Zhang, Jinliang Li and Chunchi Wu
Orange County Bankruptcy: Financial Contagion in the Municipal Bond and Bank Equity Markets pp. 293-315: John M. Halstead, Shantaram Hegde and Linda Schmid Klein
Who Benefits from Deregulating the Separation of Banking Activities? Differential Effects on Commercial Bank, Investment Bank, and Thrift Stock Returns pp. 317-341: Kathy Czyrnik and Linda Schmid Klein

Symposium on Financial Institutions pp. 1-11: Larry Wall
What's Special About Banks? pp. 13-33: George J. Benston
Credit Scoring and the Availability of Small Business Credit in Low‐ and Moderate‐Income Areas pp. 35-54: W Frame and Lynn Woosley
Maturity and Corporate Loan Pricing pp. 55-77: Aron A. Gottesman and Gordon S. Roberts
When Are Commercial Loans Secured? pp. 79-99: John S. Gonas, Michael J. Highfield and Donald J. Mullineaux
Noninterest Income and Financial Performance at U.S. Commercial Banks pp. 101-127: Robert DeYoung and Tara Rice
Determinants of the Loan Loss Allowance: Some Cross‐Country Comparisons pp. 129-152: Iftekhar Hasan and Larry Wall
The Relative Cost Efficiency of Stock versus Mutual Thrifts: A Bayesian Approach pp. 153-179: James M. Sfiridis and Kenneth Daniels