Journal of Applied Corporate Finance

1989 - 2024

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

From Morgan Stanley
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Volume 22, issue 4, 2010

Financial Planning and Investor Communications at GE (With a Look at Why We Ended Earnings Guidance) pp. 8-17

Keith Sherin

The Value of Reputation in Corporate Finance and Investment Banking (and the Related Roles of Regulation and Market Efficiency) pp. 18-29

Jonathan Macey

Maintaining a Flexible Payout Policy in a Mature Industry: The Case of Crown Cork and Seal in the Connelly Era pp. 30-44

James Ang, Tom Arnold, C. Mitchell Conover and Carol Lancaster

Is Carl Icahn Good for Long‐Term Shareholders? A Case Study in Shareholder Activism pp. 45-57

Vinod Venkiteshwaran, Subramanian R. Iyer and Ramesh Rao

Risk Management, Corporate Governance, and the Search for Long‐Term Investors pp. 58-74

Scott Bauguess, Jim Dunigan, Damien Park, Patrick McGurn, Don Chew and Ralph Walkling

Blockholders Are More Common in the United States Than You Might Think pp. 75-85

Clifford G. Holderness

Private Equity in the U.S.: Building a New Future pp. 86-95

Mike Wright, Andrew Jackson and Steve Frobisher

Should Asset Managers Hedge Their “Fees at Risk”? pp. 96-102

Bernd Scherer

Measuring Corpotate Liquidity Risk pp. 103-109

Håkan Jankensgård

The Beta Dilemma in Emerging Markets pp. 110-122

Luis Pereiro

Volume 22, issue 3, 2010

The Squam Lake Report: Fixing the Financial System pp. 8-21

Kenneth French, Martin Baily, John Campbell, John Cochrane, Douglas Diamond, Darrell Duffie, Anil Kashyap, Frederic Mishkin, Raghuram Rajan, David Scharfstein, Robert Shiller, Hyun Song Shin, Matthew Slaughter, Jeremy Stein and René Stulz

The Financial Crisis: Causes and Lessons pp. 22-29

Kenneth E. Scott

Convertible Securities and Bankruptcy Reforms: Addressing Too Big to Fail and Reducing the Fragility of the Financial System pp. 30-33

Charles Plosser

Thoughts on The Squam Lake Report: Reengineering the Financial System to Better Withstand Extreme Volatility pp. 34-39

Kenneth A. Posner

Derivatives Clearing Mandates: Cure or Curse? pp. 48-55

Craig Pirrong

Bond Rating Agencies: Conflicts and Competence pp. 56-64

Martin Fridson

Rethinking “Strength of Incentives” for Executives of Financial Institutions pp. 65-72

John McCormack and Judy Weiker

Speed Bankruptcy: A Firewall to Future Crises pp. 73-84

Garett Jones

Banking System Bailout‐Scandinavian Style pp. 85-93

Bjorn Eckbo

Replenishing the Banking Sector: Managing Bank Capital in the Post‐Crisis World pp. 94-111

Ajay Khorana and Matt Perlman

Lessons from the Global Financial Crisis (Or Why Capital Structure Is Too Important to Be Left to Regulation) pp. 112-122

Brian Kantor and Christopher Holdsworth

Volume 22, issue 2, 2010

The Role of Private Equity in Life Sciences pp. 8-35

Jeff Greene, Dennis Purcell, Brian Edelman, Doug Giordano, Richard Ruback, Dean Mihas, Tim Opler, Tom Cahill and Glen Giovannetti

It Ain't Broke: The Past, Present, and Future of Venture Capital pp. 36-47

Steven Kaplan and Josh Lerner

Postmodern Corporate Finance pp. 48-59

Gregory V. Milano

Implementing Fischer Black's Simple Discounting Rule pp. 60-68

Claudio Loderer, John B. Long and Lukas Roth

Infrastructure Public‐Private Partnerships Re‐Defined: An Increased Emphasis on “Partnerships” pp. 69-73

James Runde, J. Perry Offutt, Stacie D. Selinger and Jennifer Sarah Bolton

Smart Growth—Creating Real Long‐term Value pp. 74-82

Edward D. Hess

Surge in the Urge to Merge: M&A Trends and Analysis pp. 83-93

Michael J. Mauboussin

How an IPO Helps in M&A pp. 94-99

Ugur Celikyurt, Merih Sevilir and Anil Shivdasani

Valuation in Emerging Markets: A Simulation Approach pp. 100-108

Javier García‐Sánchez, Lorenzo Preve and Virginia Sarria‐Allende

Six Factors That Explain Executive Pay (and its Problems) pp. 109-117

Stephen F. O'Byrne and S. David Young

The RPF Model for Calculating the Equity Market Risk Premium and Explaining the Value of the S&P with Two Variables pp. 118-130

Stephen D. Hassett

Volume 22, issue 1, 2010

Baylor University Roundtable on The Corporate Mission, CEO Pay, and Improving the Dialogue with Investors pp. 8-31

John Martin, Michael Jensen, Ron Naples, Trevor Harris and Don Chew

Value Maximization, Stakeholder Theory, and the Corporate Objective Function pp. 32-42

Michael Jensen

The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems pp. 43-58

Michael Jensen

Just Say No to Wall Street: Putting a Stop to the Earnings Game pp. 59-63

Joseph Fuller and Michael Jensen

CEO Incentives—It's Not How Much You Pay, But How* pp. 64-76

Michael Jensen and Kevin J. Murphy

Active Investors, LBOs, and the Privatization of Bankruptcy pp. 77-85

Michael Jensen

Venture Capital in Canada: Lessons for Building (or Restoring) National Wealth pp. 86-98

Reuven Brenner and Gabrielle A. Brenner

How to Tie Equity Compensation to Long‐Term Results pp. 99-106

Lucian A. Bebchuk and Jesse M. Fried

Executive Compensation: An Overview of Research on Corporate Practices and Proposed Reforms pp. 107-118

Michael Faulkender, Dalida Kadyrzhanova, N. Prabhala and Lemma Senbet

Promotion Incentives and Corporate Performance: Is There a Bright Side to “Overpaying” the CEO? pp. 119-128

Jayant R. Kale, Ebru Reis and Anand Venkateswaran

Are Incentives the Bricks or the Building? pp. 129-136

Ron Schmidt

Volume 21, issue 4, 2009

The Global Financial Crisis and the Efficient Market Hypothesis: What Have We Learned? pp. 8-16

Ray Ball

Contingent Capital vs. Contingent Reverse Convertibles for Banks and Insurance Companies pp. 17-27

Christopher L. Culp

International Insurance Society Roundtable on Risk Management After the Crisis pp. 28-51

Geoffrey Bell, Prem Watsa, Bijan Khosrowshahi, Brian Duperreault and Nikolaus Von Bomhard

Lessons from the Financial Crisis on Risk and Capital Management: The Case of Insurance Companies pp. 52-59

Neil A. Doherty and Joan Lamm‐Tennant

The Theory and Practice of Corporate Risk Management* pp. 60-78

Henri Servaes, Ane Tamayo and Peter Tufano

Measuring the Contributions of Brand to Shareholder Value (and How to Maintain or Increase Them) pp. 79-88

John Gerzema, Ed Lebar and Anne Rivers

Creating Value Through Best‐In‐Class Capital Allocation1 pp. 89-96

Marc Zenner, Tomer Berkovitz and John H.S. Clark

Using Corporate Inflation Protected Securities to Hedge Interest Rate Risk pp. 97-103

L. Dwayne Barney and Keith D. Harvey

The Gain‐Loss Spread: A New and Intuitive Measure of Risk pp. 104-114

Javier Estrada

Assessing the Value of Growth Option Synergies from Business Combinations and Testing for Goodwill Impairment: A Real Options Perspective pp. 115-124

Francesco Baldi and Lenos Trigeorgis

Volume 21, issue 3, 2009

The Future of Private Equity pp. 8-20

Steve Kaplan

Operational Improvement: The Key to Value Creation in Private Equity pp. 21-27

Gary Matthews, Mark Bye and James Howland

Is There One Best Way to Sell a Company? Auctions Versus Negotiations and Controlled Sales1 pp. 28-37

Audra L. Boone and J. Harold Mulherin

Bankruptcy as an Auction Process: Lessons from Sweden pp. 38-52

Bjorn Eckbo and Karin Thorburn

Post‐Chapter 11 Bankruptcy Performance: Avoiding Chapter 22 pp. 53-64

Edward Altman, Tushar Kant and Thongchai Rattanaruengyot

Historic Changes in the High Yield Bond Market pp. 65-79

Frank K. Reilly, David J. Wright and James A. Gentry

New Insights into Rights Offerings as Signals of Firm Quality: Evidence from Australia* pp. 80-85

Balasingham Balachandran, Robert Faff and Michael Theobald

Currency Denomination of Intercompany Debt and Multinational Taxes pp. 86-94

Thomas J. O'Brien

Pricing Final Indemnification Payments to Private Sponsors in Project‐Financed Public‐Private Partnerships: An Application of Real Options Valuation pp. 95-106

Stefano Caselli, Stefano Gatti and Antonio Marciante

Volume 21, issue 2, 2009

Life Sciences Roundtable: Strategy and Financing pp. 8-35

Judy Lewent, Joe Fuller, David Scharfstein, Rick Passov, Cathrin Petty, Charles Simmons, Jeff Greene, Pete Crnkovich and Carolyn Buck Luce

The Elusive Underpinnings of U.S. Venturesomeness (If Not Prosperity)* pp. 36-48

Amar Bhidé

Specific Knowledge and Divisional Performance Measurement pp. 49-57

Michael Jensen and William H. Meckling

Using Organizational Architecture to Lead Change* pp. 58-66

James Brickley, Clifford Smith, Jerold Zimmerman and Janice Willett

Driving Performance Through Corporate Culture: Interviews with Four Experts pp. 67-73

Robert Gandossy, Rajeev Peshawaria, Leslie Perlow, Fons Trompenaars and Daisy Wademan Dowling

EVA Momentum: The One Ratio That Tells the Whole Story pp. 74-86

Bennett Stewart

Why Capital Efficiency Measures Are Rarely Used in Incentive Plans, and How to Change That pp. 87-92

Stephen F. O'Byrne and S. David Young

The Hybrid Option: A New Approach to Equity Compensation pp. 93-99

Marc Hodak

The Economics of Wind Energy pp. 100-109

John Martin and Doug Ramsey

Shareholder Value Maximization—Is There a Role for Corporate Social Responsibility? pp. 110-118

John Martin, William Petty and James Wallace

Volume 21, issue 1, 2009

The Venturesome Economy: How Innovation Sustains Prosperity in a More Connected World* pp. 8-23

Amar Bhidé

Whither Capitalism?* pp. 24-27

Stephen S. Roach

Financial Economists Roundtable Statement on Reforming the Role of the Rating “Agencies” in the Securitization Process pp. 28-33

Richard J. Herring and Edward Kane

Brazil's Experiment with Corporate Governance pp. 34-44

Gonzalo A. Chavez and Ana Cristina Silva

Private Equity vs. PLC Boards in the U.K.: A Comparison of Practices and Effectiveness pp. 45-56

Viral Acharya, Conor Kehoe and Michael Reyner

Corporate Governance and Labor Relations* pp. 57-66

E. Han Kim

Does Board Independence Matter in Companies with a Controlling Shareholder? pp. 67-78

Jay Dahya, Orlin Dimitrov and John J. McConnell

Designing a U.S. Market for CO2 pp. 79-86

John E. Parsons, A. Denny Ellerman and Stephan Feilhauer

Corporate Insurance and Debt: The Case of China* pp. 87-89

Hong Zou and Mike B. Adams

Thinking Like Adam Smith* pp. 90-95

Jerry Z. Muller