Journal of Applied Corporate Finance

1989 - 2025

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

From Morgan Stanley
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Volume 35, issue 4, 2023

Message from the editor pp. 2-3

John McCormack

Corporate culture in a new era: Views from the C‐suite pp. 7-21

John R. Graham, Jillian Grennan, Campbell Harvey and Shivaram Rajgopal

Corporate culture and organizational architecture pp. 22-31

James A. Brickley, Clifford W. Smith and Jerold Zimmerman

The role of organizational design and culture in the value‐based healthcare movement: The case of the Cleveland Clinic pp. 32-39

James K. Stoller, Bruce D. Lindsay and Don Chew

The rise and fall of Stern Stewart & Co.’s EVA financial management system pp. 40-48

Don Chew

A change toward value‐based corporate culture in petrobras pp. 49-52

Martin Schwarz and Pedro Tavares

EVA and total quality management pp. 53-59

Jeffrey M. Bacidore, John A. Boquist, Todd T. Milbourn and Anjan V. Thakor

Purpose, culture, and strategy in banking pp. 60-66

Anjan Thakor

Workplace gender diversity and employee turnover pp. 67-74

Aiyesha Dey, Joseph Pacelli, George Serafeim and Fangzhong Liu

Volume 35, issue 3, 2023

Banking crisis of 2023 and monetary policy pp. 2-3

John McCormack

Depositor discipline and the banking panic of 2023 pp. 4-6

Paul Kupiec

Depositor discipline and the banking panic of 2023 pp. 7-17

Paul Kupiec

American Enterprise Institute roundtable on addressing the underlying causes of the banking crisis of 2023: Panelists: Charles Calomiris, Henry Kaufman Professor of Financial Institutions, Columbia University; Andrew Levin, Professor, Dartmouth College; Bill Nelson, Chief Economist, Bank Policy Institute; Alex J. Pollock, Senior Fellow, Mises Institute; Moderator: Paul Kupiec, Senior Fellow, American Enterprise Institute pp. 18-36

Paul Kupiec

Further reflections on the collapse of the Silicon Valley Bank pp. 37-41

Oonagh McDonald

US monetary policy, 2020–23: Putting the quantity theory to the test pp. 42-48

Peter Ireland

Carl Walter and exposing the brittle facade of Chinese public as well as corporate finance pp. 49-56

Don Chew

James Sweeney and micro‐based attempts to make macro relevant pp. 57-62

Donald Chew

An assessment of the business roundtable's corporation purpose redefinition pp. 63-72

Timothy Marlo and Timothy T. Perry

Internally generated brands: Nestlé’s hidden assets pp. 73-77

Maryam Abdulla Al‐Asmakh

Volume 35, issue 1, 2023

A Message from the Editor pp. 2-3

Don Chew

The income bond puzzle pp. 8-15

John J. McConnell and Gary G. Schlarbaum

The economics of prepackaged bankruptcy pp. 16-19

John J. McConnell and Henri Servaes

The origin of LYONs: A case study in financial innovation pp. 20-26

John J. McConnell and Eduardo S. Schwartz

Investor base, cost of capital, and new listings on the NYSE pp. 27-30

Gregory B. Kadlec and John J. McConnell

Prepacks as a mechanism for resolving financial distress: The evidence pp. 31-37

John J. McConnell, Ronald C. Lease and Elizabeth Tashjian

Vanderbilt university roundtable on the capital structure puzzle pp. 38-49

Stewart Myers, John McConnell, Alice Peterson, Dennis Soter and Joel Stern

MIPS, QUIPS, and TOPrS: Old wine in new bottles pp. 50-54

Arun Khanna and John J. McConnell

A survey of US corporate financing innovations: 1970–1997 pp. 55-71

Kenneth A. Carow, Gayle R. Erwin and John J. McConnell

Does board independence matter in companies with a controlling shareholder? pp. 72-82

Jay Dahya, Orlin Dimitrov and John J. McConnell

CEOs, abandoned acquisitions, and the media pp. 83-90

Baixiao Liu and John J. McConnell

Do investment banks have incentives to help clients make value‐creating acquisitions? pp. 91-102

John J. McConnell and Valeriy Sibilkov

Volume 34, issue 4, 2022

Message from the Editor pp. 2-3

Don Chew

The case for reinventing financial reporting in the 21st century pp. 8-15

Anup Srivastava and Shivaram Rajgopal

A positive accounting theorist's take on the end of accounting pp. 16-21

Jerold Zimmerman

Corporate culture: The interview evidence pp. 22-41

John R. Graham, Jillian A. Grennan, Campbell Harvey and Shivaram Rajgopal

Rising intangibles, negative cash flows, and corporate funding practices pp. 42-50

David J. Denis and Stephen B. McKeon

Driving outperformance: The power and potential of economic profit pp. 78-84

Jeffrey Greene, Greg Milano, Alex Curatolo and Michael Chew

Strategic financial management part III: Debt maturity and priority and corporate liquidity pp. 101-108

Fangjian Fu and Clifford W. Smith

PVGO and expected stock returns pp. 109-112

Javier Estrada

Volume 34, issue 3, 2022

A Message from the Editor pp. 2-3

Don Chew

Stewart Myers and the MIT School of Real Options and Capital Structure pp. 8-21

Don Chew and Bennett Stewart

Strategic Financial Management Part II: Seasoned Equity Offerings, Corporate Payout Policy, and the Case of Regulated Utilities pp. 22-34

Fangjian Fu and Clifford Smith

Collateralized Loan Obligations: A Primer pp. 35-50

John Martin and Akin Sayrak

Will Blockchain Be a Big Deal? Reasons for Caution pp. 51-57

Craig Pirrong

Texas Private Equity Conference 2022: Session I: The State of and Prospects for U.S. Private Equity pp. 58-63

Rich Hall and Kewsong Lee

Texas Private Equity Conference 2022: Session II: The Role of Private Equity and Debt in Reshaping the Ownership, Valuation, and Governance of Private Companies pp. 64-71

Xavier Sztejnberg, Carlos Whitaker, Vanessa Roberts, Phil Canfield and Jeffrey W. Kramer

Texas Private Equity Conference 2022: Session III: Space: The Final Investing Frontier pp. 72-81

Brant Arseneau, David Anderman, Gabe Dominocielo, Matthew Kuta and Ken Wiles

Should Private Companies Have the Same SEC Disclosure Requirements as Public Companies? A Debate pp. 82-87

Ludovic Phalippou and Gregory Brown

After the Tax Breaks Fade: What Executives Need to Know About Transfer Pricing pp. 88-94

S. David Young

Plowback in the Constant‐Growth DCF Model pp. 95-109

James L. Canessa and Gregg A. Jarrell

Uncertainty in Capital Budgeting: Five Particular Safety‐(or Danger‐) Margins from the NPV Formula pp. 110-115

Richard A. Miller

Do You Really Know Your Cost of Capital? pp. 116-128

Matti Keloharju, Juhani Linnainmaa and Peter Nyberg

Volume 34, issue 2, 2022

A Message from the Editor pp. 2-3

Don Chew

Corporate Governance versus Real Governance pp. 8-16

Ronald J. Gilson

The Financial Cost of Carbon pp. 17-29

Patrick Bolton, Zachery Halem and Marcin Kacperczyk

Employee Value Added: A New Measure of Gain‐Sharing between Labor and Capital pp. 30-44

Stephen F. O'Byrne and Shivaram Rajgopal

How to Settle the Corporate Purpose Debate pp. 45-51

Alfred Rappaport and Michael J. Mauboussin

Building Investor Trust in Net Zero pp. 52-59

Ariel Babcock, Allen He and Veena Ramani

Missing the Target: A Review of Mark Roe's New Book on U.S. Stock‐Market Short‐Termism pp. 60-64

Tom Gosling

The Recent Surge in Money Growth: What Would Milton Friedman Say? pp. 65-81

Peter Ireland

Recent Monetary History: A Monetarist Perspective pp. 82-99

Brian Kantor

The Magic of Finance Capitalism pp. 100-105

Don Chew and Bennett Stewart

Introduction to Corporate Finance: What Is It and Why Does It Matter? pp. 106-114

Don Chew and Bennett Stewart

Volume 34, issue 1, 2022

A Message from the Editor pp. 2-3

Don Chew

Globalization, Corporate Finance, and the Cost of Capital pp. 8-23

René M. Stulz

The Limits of Financial Globalization pp. 24-31

René M. Stulz

Rethinking Risk Management pp. 32-46

René M. Stulz

Risk Management Failures: What Are They and When Do They Happen? pp. 47-57

René M. Stulz

How Companies Can Use Hedging to Create Shareholder Value pp. 58-66

René M. Stulz

Real Options and Hidden Leverage pp. 67-80

Stewart C. Myers and James A. Read

Enterprise Risk Management: Theory and Practice pp. 81-94

Brian W. Nocco and René M. Stulz

Risk‐Taking and Risk Management by Banks pp. 95-105

René M. Stulz

FinTech, BigTech, and the Future of Banks pp. 106-117

René M. Stulz

Merton Miller's Contribution to Modern Finance pp. 118-128

René M. Stulz