Journal of Finance

1946 - 2025

From American Finance Association
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Volume 57, issue 6, 2002

Effects of Corporate Diversification on Productivity pp. 2379-2403

Antoinette Schoar

FX Trading and Exchange Rate Dynamics pp. 2405-2447

Martin D. D. Evans

Momentum Trading by Institutions pp. 2449-2478

S.G. Badrinath and Sunil Wahal

Learning about Internal Capital Markets from Corporate Spin‐offs pp. 2479-2506

Robert Gertner, Eric Powers and David Scharfstein

When Is Bad News Really Bad News? pp. 2507-2532

Jennifer Conrad, Bradford Cornell and Wayne R. Landsman

Does Distance Still Matter? The Information Revolution in Small Business Lending pp. 2533-2570

Mitchell A. Petersen and Raghuram Rajan

Noise Trading, Costly Arbitrage, and Asset Prices: Evidence from Closed‐end Funds pp. 2571-2594

Gordon Gemmill and Dylan C. Thomas

Long‐Run Performance following Private Placements of Equity pp. 2595-2617

Michael Hertzel, Michael Lemmon, James S. Linck and Lynn Rees

Managerial Turnover and Leverage under a Takeover Threat pp. 2619-2650

Walter Novaes

The Geography of Equity Listing: Why Do Companies List Abroad? pp. 2651-2694

Marco Pagano, Ailsa A. Röell and Josef Zechner

Tunneling or Value Added? Evidence from Mergers by Korean Business Groups pp. 2695-2740

Kee‐Hong Bae, Jun‐Koo Kang and Jin‐Mo Kim

Disentangling the Incentive and Entrenchment Effects of Large Shareholdings pp. 2741-2771

Stijn Claessens, Simeon Djankov, Joseph P. H. Fan and Larry H. P. Lang

Internal Capital Markets in Financial Conglomerates: Evidence from Small Bank Responses to Monetary Policy pp. 2773-2805

Murillo Campello

Entrepreneurship and Bank Credit Availability pp. 2807-2833

Sandra Black and Philip E. Strahan

Volume 57, issue 5, 2002

Takeover Defenses of IPO Firms pp. 1857-1889

Laura Casares Field and Jonathan M. Karpoff

Information Production and Capital Allocation: Decentralized versus Hierarchical Firms pp. 1891-1921

Jeremy C. Stein

Who Blinks in Volatile Markets, Individuals or Institutions? pp. 1923-1949

Patrick J. Dennis and Deon Strickland

Global Diversification, Industrial Diversification, and Firm Value pp. 1951-1979

David J. Denis, Diane K. Denis and Keven Yost

Survival Bias and the Equity Premium Puzzle pp. 1981-1995

Haitao Li and Yuewu Xu

Term Structure of Interest Rates with Regime Shifts pp. 1997-2043

Ravi Bansal and Hao Zhou

Valuation of the Debt Tax Shield pp. 2045-2073

Deen Kemsley and Doron Nissim

Telling from Discrete Data Whether the Underlying Continuous‐Time Model Is a Diffusion pp. 2075-2112

Yacine Aït‐Sahalia

Differences of Opinion and the Cross Section of Stock Returns pp. 2113-2141

Karl B. Diether, Christopher J. Malloy and Anna Scherbina

A Test of the Errors‐in‐Expectations Explanation of the Value/Glamour Stock Returns Performance: Evidence from Analysts' Forecasts pp. 2143-2165

John A. Doukas, Chansog (Francis) Kim and Christos Pantzalis

Corporate Diversification: What Gets Discounted? pp. 2167-2183

Sattar A. Mansi and David M. Reeb

Is Information Risk a Determinant of Asset Returns? pp. 2185-2221

David Easley, Soeren Hvidkjaer and Maureen O'Hara

No Contagion, Only Interdependence: Measuring Stock Market Comovements pp. 2223-2261

Kristin Forbes and Roberto Rigobon

An Investigation of the Informational Role of Short Interest in the Nasdaq Market pp. 2263-2287

Hemang Desai, K. Ramesh, S. Ramu Thiagarajan and Bala V. Balachandran

The Making of a Dealer Market: From Entry to Equilibrium in the Trading of Nasdaq Stocks pp. 2289-2316

Katrina Ellis, Roni Michaely and Maureen O'Hara

Book‐to‐Market Equity, Distress Risk, and Stock Returns pp. 2317-2336

John M. Griffin and Michael L. Lemmon

Empirical Evaluation of Asset‐Pricing Models: A Comparison of the SDF and Beta Methods pp. 2337-2367

Ravi Jagannathan and Zhenyu Wang

Volume 57, issue 4, 2002

Rational Asset Prices pp. 1567-1591

George Constantinides

How Much Is Investor Autonomy Worth? pp. 1593-1616

Shlomo Benartzi and Richard Thaler

Is Disinflation Good for the Stock Market? pp. 1617-1648

Peter Blair Henry

Dividends, Share Repurchases, and the Substitution Hypothesis pp. 1649-1684

Gustavo Grullon and Roni Michaely

Do Bonds Span the Fixed Income Markets? Theory and Evidence for Unspanned Stochastic Volatility pp. 1685-1730

Pierre Collin‐Dufresne and Robert S. Goldstein

Explaining the Diversification Discount pp. 1731-1762

Jose Campa and Simi Kedia

What Do Returns to Acquiring Firms Tell Us? Evidence from Firms That Make Many Acquisitions pp. 1763-1793

Kathleen Fuller, Jeffry Netter and Mike Stegemoller

A Review of IPO Activity, Pricing, and Allocations pp. 1795-1828

Jay Ritter and Ivo Welch

Minutes of the Annual Membership Meeting pp. 1829-1830

David H. Pyle

Report of the Executive Secretary and Treasurer pp. 1831-1833

David H. Pyle

Report of the Editor of The Journal of Finance for the Year 2001 pp. 1835-1847

Richard Green

Volume 57, issue 3, 2002

Markowitz's “Portfolio Selection”: A Fifty‐Year Retrospective pp. 1041-1045

Mark Rubinstein

Range‐Based Estimation of Stochastic Volatility Models pp. 1047-1091

Sassan Alizadeh, Michael W. Brandt and Francis Diebold

How Accurate Are Value‐at‐Risk Models at Commercial Banks? pp. 1093-1111

Jeremy Berkowitz and James O'Brien

Learning, Asset‐Pricing Tests, and Market Efficiency pp. 1113-1145

Jonathan Lewellen and Jay Shanken

Investor Protection and Corporate Valuation pp. 1147-1170

Rafael La Porta, Florencio Lopez‐ De‐Silanes, Andrei Shleifer and Robert Vishny

IPO Market Cycles: Bubbles or Sequential Learning? pp. 1171-1200

Michelle Lowry and G. Schwert

Dynamic Asset Allocation under Inflation pp. 1201-1238

Michael J. Brennan and Yihong Xia

An Empirical Investigation of Continuous‐Time Equity Return Models pp. 1239-1284

Torben Andersen, Luca Benzoni and Jesper Lund

The Quality of ECN and Nasdaq Market Maker Quotes pp. 1285-1319

Roger D. Huang

New Evidence of the Impact of Dividend Taxation and on the Identity of the Marginal Investor pp. 1321-1346

Leonie Bell and Tim Jenkinson

Equilibrium Pricing and Optimal Hedging in Electricity Forward Markets pp. 1347-1382

Hendrik Bessembinder and Michael L. Lemmon

Do Banks Provide Financial Slack? pp. 1383-1419

Charles J. Hadlock and Christopher James

Institutional Allocation in Initial Public Offerings: Empirical Evidence pp. 1421-1442

Reena Aggarwal, Nagpurnanand R. Prabhala and Manju Puri

Nasdaq Trading Halts: The Impact of Market Mechanisms on Prices, Trading Activity, and Execution Costs pp. 1443-1478

William G. Christie, Shane A. Corwin and Jeffrey Harris

Empirical Analysis of the Yield Curve: The Information in the Data Viewed through the Window of Cox, Ingersoll, and Ross pp. 1479-1520

Christopher G. Lamoureux and H. Douglas Witte

An Analysis of the Determinants and Shareholder Wealth Effects of Mutual Fund Mergers pp. 1521-1551

Narayanan Jayaraman, Ajay Khorana and Edward Nelling

Volume 57, issue 2, 2002

Limited Arbitrage in Equity Markets pp. 551-584

Mark Mitchell, Todd Pulvino and Erik Stafford

Rational Momentum Effects pp. 585-608

Timothy C. Johnson

Managerial Opportunism? Evidence from Directors' and Officers' Insurance Purchases pp. 609-636

John M. R. Chalmers, Larry Y. Dann and Jarrad Harford

The Equity Premium pp. 637-659

Eugene F. Fama and Kenneth French

Leaning for the Tape: Evidence of Gaming Behavior in Equity Mutual Funds pp. 661-693

Mark Carhart, Ron Kaniel, David K. Musto and Adam V. Reed

Does Corporate Diversification Destroy Value? pp. 695-720

John R. Graham, Michael L. Lemmon and Jack G. Wolf

Do Conglomerate Firms Allocate Resources Inefficiently Across Industries? Theory and Evidence pp. 721-767

Vojislav Maksimovic and Gordon Phillips

A Rational Expectations Model of Financial Contagion pp. 769-799

Laura E. Kodres and Matthew Pritsker

The Volatility and Price Sensitivities of Managerial Stock Option Portfolios and Corporate Hedging pp. 801-813

John D. Knopf, Jouahn Nam and John Thornton

Do Firms Hedge in Response to Tax Incentives? pp. 815-839

John R. Graham and Daniel A. Rogers

Liquidity Provision and the Organizational Form of NYSE Specialist Firms pp. 841-869

Jay F. Coughenour and Daniel N. Deli

The Long‐run Performance Following Dividend Initiations and Resumptions: Underreaction or Product of Chance? pp. 871-900

Rodney D. Boehme and Sorin M. Sorescu

Where Does State Street Lead? A First Look at Finance Patents, 1971 to 2000 pp. 901-930

Josh Lerner

Competition, Market Structure, and Bid‐Ask Spreads in Stock Option Markets pp. 931-958

Stewart Mayhew

Risk Aversion, Transparency, and Market Performance pp. 959-984

M. Ángeles De Frutos and Carolina Manzano

Momentum, Business Cycle, and Time‐varying Expected Returns pp. 985-1019

Tarun Chordia and Lakshmanan Shivakumar

Volume 57, issue 1, 2002

Market Timing and Capital Structure pp. 1-32

Malcolm Baker and Jeffrey Wurgler

Banks as Liquidity Providers: An Explanation for the Coexistence of Lending and Deposit‐taking pp. 33-73

Anil K. Kashyap, Raghuram Rajan and Jeremy C. Stein

The World Price of Insider Trading pp. 75-108

Utpal Bhattacharya and Hazem Daouk

Mutual Fund Advisory Contracts: An Empirical Investigation pp. 109-133

Daniel N. Deli

Economic Distress, Financial Distress, and Dynamic Liquidation pp. 135-168

Matthias Kahl

Venture Capital and the Professionalization of Start‐Up Firms: Empirical Evidence pp. 169-197

Thomas Hellmann and Manju Puri

Pass‐through and Exposure pp. 199-231

Gordon Bodnar, Bernard Dumas and Richard C. Marston

What Drives Firm‐Level Stock Returns? pp. 233-264

Tuomo Vuolteenaho

Government Ownership of Banks pp. 265-301

Rafael La Porta, Florencio Lopez‐ De‐Silanes and Andrei Shleifer

Portfolio Choice in the Presence of Personal Illiquid Projects pp. 303-328

Miquel Faig and Pauline Shum

The Effects of Banking Mergers on Loan Contracts pp. 329-367

Paola Sapienza

Nonlinear Pricing Kernels, Kurtosis Preference, and Evidence from the Cross Section of Equity Returns pp. 369-403

Robert F. Dittmar

Term Premia and Interest Rate Forecasts in Affine Models pp. 405-443

Greg Duffee

Ex Ante Costs of Violating Absolute Priority in Bankruptcy pp. 445-460

Lucian Arye Bebchuk

The Cadbury Committee, Corporate Performance, and Top Management Turnover pp. 461-483

Jay Dahya, John J. McConnell and Nickolaos G. Travlos

Research Dissemination and Impact: Evidence from Web Site Downloads pp. 485-499

Lee Pinkowitz

Bank Performance around the Introduction of a Section 20 Subsidiary pp. 501-521

Marcia Millon Cornett, Evren Ors and Hassan Tehranian

Continuous Trading or Call Auctions: Revealed Preferences of Investors at the Tel Aviv Stock Exchange pp. 523-542

Avner Kalay, Li Wei and Avi Wohl