Journal of Applied Corporate Finance

1989 - 2017

Current editor(s): Donald H. Chew Jr.

From Morgan Stanley
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Volume 29, issue 3, 2017

The Evolving Shareholder Activist Landscape (How Companies Can Prepare for It) pp. 8-17

Ajay Khorana, Anil Shivdasani and Gustav Sigurdsson

Improving the Health of Healthcare Companies pp. 18-29

Gregory V. Milano, Marwaan R. Karame and Joseph G. Theriault

University of Texas Roundtable on The State of the U.S. Private Equity Market pp. 30-41

Andy Jhawar, Tiffany Kosch, Austin Long and Will Carpenter

University of Texas Roundtable on The Role of Private Equity in the Financing and Restructuring of Oil and Gas Companies pp. 42-53

Bryan Sheffield, Bill Montgomery, Jim Hackett and Chris Manning

The Keys to Success in Spinoffs pp. 54-64

Craig Emrick, Ajay Khorana, Anil Shivdasani and Peter Ventouras

Statement of the Financial Economists Roundtable: Corporate Tax Reform pp. 65-70

Arnoud Boot, Dennis Logue and Chester Spatt

Two Different Ways of Treating Corporate Cash in FCF Valuations—and the Importance of Getting the Cost of Capital Right pp. 71-79

Peter D. Easton and Gregory A. Sommers

Valuation of a Pharmaceutical Licensing Contract pp. 80-88

John Lynch and Richard Shockley

Investor Protection and Governance in the Valuation of Emerging Markets Investments pp. 89-100

Leila Atwi, Assem Safieddine and Sheridan Titman

The Empirical Average Cost of Capital: A New Approach to Estimating the Cost of Corporate Funds pp. 101-110

Gerard T. Olson and Michael S. Pagano

Volume 29, issue 2, 2017

How We Invest pp. 10-15

Michael Bloomberg and Carl Pope

Sustainability and Rewriting the Book on Valuation: An Interview with Tim Koller pp. 16-20

Jonathan Bailey and Tim Koller

The SEC and Improving Sustainability Reporting pp. 22-31

Keith Higgins, John White, Alan Beller and Mary Schapiro

The Next Wave of ESG Integration: Lessons from Institutional Investors pp. 32-43

Chris Ailman, Michelle Edkins, Kristi Mitchem, Ted Eliopoulos and Janine Guillot

Analysts' Roundtable on Integrating ESG into Investment Decision-Making pp. 44-55

Dan Hanson, Tom Lyons, Jennifer Bender, Bruno Bertocci and Bobby Lamy

Far Beyond the Quarterly Call: CECP's First CEO-Investor Forum pp. 56-69

Tim Youmans and Brian Tomlinson

Evaluating Sustainable Competitive Advantage pp. 70-75

Baruch Lev

The Purpose of the Firm, Valuation, and the Management of Intangibles pp. 76-86

Bartley J. Madden

Investing in the UN Sustainable Development Goals: Opportunities for Companies and Investors pp. 87-99

Willem Schramade

Evaluating the Effectiveness of Sustainability Disclosure: Findings from a Recent SASB Study pp. 100-108

Arturo Rodriguez, Henrik Cotran and Levi S. Stewart

Lies, Damn Lies, and Statistics: Why a Widely Used Sustainability Metric Fails and How to Improve It pp. 109-114

Jon Bartley, Al Chen, Stephen Harvey, Scott Showalter, Gilroy Zuckerman and Levi Stewart

Volume 29, issue 1, 2017

The Case for Activist Directors: A Conversation with Ira M. Millstein pp. 10-14

Ira M. Millstein and Geoff Colvin

Crises, Financial Leadership, and the Six Stretches for Financial Education pp. 15-21

Robert F. Bruner

The Role of Corporate Boards: A Roundtable Discussion of Where We're Going and Where We've Been pp. 22-35

Jesse Greene, Raj Gupta, Sophie L'Helias and Bill McCracken

The Evolution of Executive Pay Policy at General Motors, 1918–2008 pp. 36-49

Stephen F. O'Byrne and S. David Young

FMA Roundtable on New Developments in European Corporate Governance pp. 50-75

Charles Elson, Tom Berglund, Marc Steffen Rapp, Wolfgang Bessler and Don Chew

Columbia Law School Roundtable on A Governance Research Agenda for the Academy pp. 76-85

Martijn Cremers, Vik Khanna and Jeff Gordon

Liquefying a Market: The Transition of LNG to a Traded Commodity pp. 86-92

Craig Pirrong

Separating Leadership from Pay pp. 93-98

Stephan Hostettler and Raphaël Lambin

Corporate Governance and the Investment Efficiency of Diversified Corporate Asset Buyers pp. 99-114

I-Ju Chen and Sheng-Syan Chen

IPO or SBO?: The Increasing Importance of Operational Performance for Private Equity Exits Following the Global Financial Crisis of 2007–08 pp. 115-121

Emil Plagborg-Møller and Morten Holm

Volume 28, issue 4, 2016

A Look Back at Modern Finance: Accomplishments and Limitations pp. 10-16

Eugene F. Fama and Joel M. Stern

Proactive Leverage Increases and The Value of Financial Flexibility pp. 17-28

David J. Denis and Stephen B. McKeon

The Leveraging of Corporate America: A Long-Run Perspective on Changes in Capital Structure pp. 29-37

John R. Graham, Mark T. Leary and Michael R. Roberts

Capital Structure Instability pp. 38-52

Harry DeAngelo and Richard Roll

Which Creditors’ Rights Drive Financial Deepening and Economic Development? pp. 53-59

Charles W. Calomiris, Mauricio Larrain, José Liberti and Jason Sturgess

The Capital Structure of PE-Funded Companies (and How New Debt Instruments and Investors Are Expanding Their Debt Capacity) pp. 60-67

Joseph V. Rizzi

Seniority Differentials in High Yield Bonds: Evolution, Valuation, and Ratings pp. 68-72

Martin Fridson, Yanzhe Yang and Jiajun Wang

Do Corporate Managers Know When Their Shares Are Undervalued? New Evidence Based on Actual (and Not Just Announced) Stock Buybacks pp. 73-85

Amy Dittmar and Laura Casares Field

A Primer on the Financial Policies of Chinese Firms: A Multi-country Comparison pp. 86-94

Marc Zenner, Peter McInnes, Ram Chivukula and Phu Le

Syndication of European Buyouts and its Effects on Target-Firm Performance pp. 95-117

Nancy Huyghebaert and Randy Priem

Don't Waste a Free Lunch: Managing the Advance Refunding Option pp. 118-123

Andrew Kalotay and Lori Raineri

The Economic Impact of Chapter 11 Bankruptcy versus Out-of-Court Restructuring pp. 124-128

Donald Markwardt, Claude Lopez and Ross DeVol

Volume 28, issue 3, 2016

The Achievements and Future of Business Education pp. 8-25

Geoff Garrett, Garth Saloner, Nitin Nohria and Glenn Hubbard

Value Creation by Active Investors (and Its Potential for Addressing Social Problems) pp. 26-35

Paul Hilal, Russ Carson and Trevor Harris

University of Texas Roundtable on Recent Trends in U.S. Venture Capital pp. 36-47

Brooks Gibbins, Venu Shamapant, Glenn Schiffman, Jake Saper and Ken Wiles

Drivers of Shareholder Returns in Tech Industries (or How to Make Sense of Amazon's Market Value) pp. 48-55

Gregory V. Milano, Arshia Chatterjee and David Fedigan

Private Equity, the Rise of Unicorns, and the Reincarnation of Control-based Accounting pp. 56-67

Jerold L. Zimmerman

A Better Way to Measure Operating Performance (or Why the EVA Math Really Matters) pp. 68-86

Stephen F. O'Byrne

Estimating the Cost of Capital Using Stock Prices and Near-term Earnings Forecasts pp. 87-94

Peter Easton

What Cost of Capital Should You Use? The Market Has an Answer pp. 95-102

Leon Zolotoy and Andrew John

Do Investment Banks Have Incentives to Help Clients Make Value-Creating Acquisitions? pp. 103-117

John J. McConnell and Valeriy Sibilkov

Valuation of a Developmental Drug as a Real Option pp. 118-126

John Lynch and Richard Shockley

Volume 28, issue 2, 2016

ESG Integration in Investment Management: Myths and Realities pp. 10-16

Sakis Kotsantonis, Chris Pinney and George Serafeim

Bridging Sustainability and Finance: The Value Driver Adjustment Approach pp. 17-28

Willem Schramade

Governance and Climate Change: A Success Story in Mobilizing Investor Support for Corporate Responses to Climate Change pp. 29-33

Mats Andersson, Patrick Bolton and Frédéric Samama

Measuring What Matters: Industry Specificity Helps Companies and Investors Gain Traction on Sustainability pp. 34-38

Bob Herz and Jean Rogers

Materiality in Corporate Governance: The Statement of Significant Audiences and Materiality pp. 39-46

Robert G. Eccles and Tim Youmans

ESG for All? The Impact of ESG Screening on Return, Risk, and Diversification pp. 47-55

Tim Verheyden, Robert G. Eccles and Andreas Feiner

Integrating Systemic Risk into Modern Portfolio Theory and Practice pp. 56-61

Steve Lydenberg

Morgan Stanley Perspectives on Sustainable Investing: Acceleration and Integration pp. 62-65

Audrey Choi

Delaware Public Benefit Corporations: Widening the Fiduciary Aperture to Broaden the Corporate Mission pp. 66-74

Frederick Alexander

The Evolution of Integrating ESG Analysis into Wealth Management Decisions pp. 75-79

Peter Roselle

Corporate Philanthropy and Innovation: The Case of the Pharmaceutical Industry pp. 80-86

Frederick L. Bereskin and Po-Hsuan Hsu

Managing the “S” in ESG: The Case of Indigenous Peoples and Extractive Industries pp. 87-95

Nick Pelosi and Rebecca Adamson

ESG Investing in Emerging and Frontier Markets pp. 96-101

Jamieson Odell and Usman Ali

Volume 28, issue 1, 2016

Risk Management—the Revealing Hand pp. 8-18

Robert S. Kaplan and Anette Mikes

Bankers Trust and the Birth of Modern Risk Management pp. 19-29

Gene D. Guill

University of Texas Roundtable on Financing and Managing Energy Investments in a Low-Price Environment pp. 30-45

Marshall Adkins, Greg Beard, Bernard “Buddy” Clark, Gene Shepherd, George Vaughan and Sheridan Titman

Why FX Risk Management Is Broken–and What Boards Need to Know to Fix It pp. 46-61

Håkan Jankensgård, Alf Alviniussen and Lars Oxelheim

Derivatives: Understanding Their Usefulness and Their Role in the Financial Crisis pp. 62-71

Bruce Tuckman

Opaque Financial Contracting and Toxic Term Sheets in Venture Capital pp. 72-85

Keith C. Brown and Kenneth W. Wiles

Three Approaches to Risk Management—and How and Why Swedish Companies Use Them pp. 86-94

Niklas Amberg and Richard Friberg

Are U.S. Companies Really Holding That Much Cash—And If So, Why? pp. 95-103

Marc Zenner, Evan Junek and Ram Chivukula

Seeking Capital Abroad: Motivations, Process, and Suggestions for Success pp. 104-113

Greg Bell and Abdul A. Rasheed

The Beliefs of Central Bankers About Inflation and the Business Cycle—and Some Reasons to Question the Faith pp. 114-125

Brian Kantor