Journal of Finance

1946 - 2025

From American Finance Association
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Volume 55, issue 6, 2000

A Theory of Bank Capital pp. 2431-2465

Douglas Diamond and Raghuram Rajan

Time and the Price Impact of a Trade pp. 2467-2498

Alfonso Dufour and Robert Engle

A Theory of Dividends Based on Tax Clienteles pp. 2499-2536

Franklin Allen, Antonio E. Bernardo and Ivo Welch

The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment pp. 2537-2564

David Scharfstein and Jeremy Stein

Competition on the Nasdaq and the Impact of Recent Market Reforms pp. 2565-2598

James P. Weston

Hostility in Takeovers: In the Eyes of the Beholder? pp. 2599-2640

G. Schwert

Conflicts of Interest and Market Illiquidity in Bankruptcy Auctions: Theory and Tests pp. 2641-2692

Per Strömberg

Depositary Receipts, Country Funds, and the Peso Crash: The Intraday Evidence pp. 2693-2717

Warren Bailey, Kalok Chan and Y. Peter Chung

Investment Plans and Stock Returns pp. 2719-2745

Owen Lamont

Information Asymmetry, R&D, and Insider Gains pp. 2747-2766

David Aboody and Baruch Lev

The Impact of Global Equity Offerings pp. 2767-2789

Susan Chaplinsky and Latha Ramchand

Corporate Equity Ownership, Strategic Alliances, and Product Market Relationships pp. 2791-2815

Jeffrey W. Allen and Gordon Phillips

The Relation between Stock Market Movements and NYSE Seat Prices pp. 2817-2840

Donald Keim and Ananth Madhavan

Reduction of Constraints on Arbitrage Trading and Market Efficiency: An Examination of Ex‐Day Returns in Hong Kong after Introduction of Electronic Settlement pp. 2841-2861

Palani‐Rajan Kadapakkam

Explaining the Poor Performance of Consumption‐based Asset Pricing Models pp. 2863-2878

John Campbell and John Cochrane

The Information Value of Bond Ratings pp. 2879-2902

Doron Kliger and Oded Sarig

Price Discovery in Initial Public Offerings and the Role of the Lead Underwriter pp. 2903-2922

Reena Aggarwal and Pat Conroy

Volume 55, issue 5, 2000

How Big Are the Tax Benefits of Debt? pp. 1901-1941

John R. Graham

Specification Analysis of Affine Term Structure Models pp. 1943-1978

Qiang Dai and Kenneth Singleton

Inference in Long‐Horizon Event Studies: A Bayesian Approach with Application to Initial Public Offerings pp. 1979-2016

Alon Brav

Price Momentum and Trading Volume pp. 2017-2069

Charles Lee and Bhaskaran Swaminathan

Crossing Networks and Dealer Markets: Competition and Performance pp. 2071-2115

Terrence Hendershott and Haim Mendelson

Imperfect Competition among Informed Traders pp. 2117-2155

Kerry Back, C. Henry Cao and Gregory A. Willard

Monitoring and Structure of Debt Contracts pp. 2157-2195

Cheol Park

The Effect of Bank Relations on Investment Decisions: An Investigation of Japanese Takeover Bids pp. 2197-2218

Jun‐Koo Kang, Anil Shivdasani and Takeshi Yamada

The Equity Share in New Issues and Aggregate Stock Returns pp. 2219-2257

Malcolm Baker and Jeffrey Wurgler

Order Flow, Transaction Clock, and Normality of Asset Returns pp. 2259-2284

Thierry Ané and Hélyette Geman

Predictability and Transaction Costs: The Impact on Rebalancing Rules and Behavior pp. 2285-2309

Anthony W. Lynch and Pierluigi Balduzzi

Does Option Compensation Increase Managerial Risk Appetite? pp. 2311-2331

Jennifer N. Carpenter

The American Put Option and Its Critical Stock Price pp. 2333-2356

David S. Bunch and Herb Johnson

Time Variation of Ex‐Dividend Day Stock Returns and Corporate Dividend Capture: A Reexamination pp. 2357-2372

Andy Naranjo, M. Nimalendran and Mike Ryngaert

Stock Repurchases in Canada: Performance and Strategic Trading pp. 2373-2397

David Ikenberry, Josef Lakonishok and Theo Vermaelen

Equity Undervaluation and Decisions Related to Repurchase Tender Offers: An Empirical Investigation pp. 2399-2424

Ranjan D'mello and Pervin K. Shroff

Volume 55, issue 4, 2000

Selection Editor's Introduction pp. 1477-1477

Franklin Allen

Presidential Address: Friction pp. 1479-1514

Hans Stoll

Asset Pricing at the Millennium pp. 1515-1567

John Campbell

Continuous‐Time Methods in Finance: A Review and an Assessment pp. 1569-1622

Suresh M. Sundaresan

In Search of New Foundations pp. 1623-1653

Luigi Zingales

Mutual Fund Performance: An Empirical Decomposition into Stock‐Picking Talent, Style, Transactions Costs, and Expenses pp. 1655-1695

Russell Wermers

Discussion pp. 1695-1703

Tobias J. Moskowitz

Foundations of Technical Analysis: Computational Algorithms, Statistical Inference, and Empirical Implementation pp. 1705-1765

Andrew Lo, Harry Mamaysky and Jiang Wang

Discussion pp. 1765-1770

Narasimhan Jegadeesh

Order Flow and Liquidity around NYSE Trading Halts pp. 1771-1801

Shane A. Corwin and Marc L. Lipson

Discussion pp. 1801-1805

Daniel G. Weaver

Corporate Reorganizations and Non‐Cash Auctions pp. 1807-1849

Matthew Rhodes‐Kropf and S. Viswanathan

Discussion pp. 1850-1854

Robert Marquez

Minutes of the Annual Membership Meeting pp. 1855-1856

David H. Pyle

Report of the Executive Secretary and Treasurer for the Year Ending September 30, 1999 pp. 1857-1860

David H. Pyle

Report of the Editor for His Tenure and 1999 pp. 1861-1892

René Stulz

Volume 55, issue 3, 2000

Outside Equity pp. 1005-1037

Stewart C. Myers

When the Underwriter Is the Market Maker: An Examination of Trading in the IPO Aftermarket pp. 1039-1074

Katrina Ellis, Roni Michaely and Maureen O'Hara

Stabilization Activities by Underwriters after Initial Public Offerings pp. 1075-1103

Reena Aggarwal

The Seven Percent Solution pp. 1105-1131

Hsuan‐Chi Chen and Jay Ritter

Multiple versus Single Banking Relationships: Theory and Evidence pp. 1133-1161

Enrica Detragiache, Paolo Garella and Luigi Guiso

Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk pp. 1163-1198

John Heaton and Deborah Lucas

A Test of the Relative Pricing Effects of Dividends and Earnings: Evidence from Simultaneous Announcements in Japan pp. 1199-1227

Robert M. Conroy, Kenneth M. Eades and Robert S. Harris

Firm Size and Cyclical Variations in Stock Returns pp. 1229-1262

Gabriel Perez‐Quiros and Allan Timmermann

Conditional Skewness in Asset Pricing Tests pp. 1263-1295

Campbell Harvey and Akhtar Siddique

Equilibrium Forward Curves for Commodities pp. 1297-1338

Bryan Routledge, Duane J. Seppi and Chester S. Spatt

Price Discovery without Trading: Evidence from the Nasdaq Preopening pp. 1339-1365

Charles Cao, Eric Ghysels and Frank Hatheway

Taking Stock: Equity‐Based Compensation and the Evolution of Managerial Ownership pp. 1367-1384

Eli Ofek and David Yermack

Fund Advisor Compensation in Closed‐End Funds pp. 1385-1414

Jeffrey Coles, Jose Suay and Denise Woodbury

Financial Innovation and the Role of Derivative Securities: An Empirical Analysis of the Treasury STRIPS Program pp. 1415-1436

Mark Grinblatt and Francis Longstaff

Hedging Pressure Effects in Futures Markets pp. 1437-1456

Frans A. De Roon, Theo Nijman and Chris Veld

An Analysis of Finance Journal Impact Factors pp. 1457-1469

Kenneth A. Borokhovich, Robert J. Bricker and Betty Simkins

Volume 55, issue 2, 2000

Stock Market Liberalization, Economic Reform, and Emerging Market Equity Prices pp. 529-564

Peter Blair Henry

Foreign Speculators and Emerging Equity Markets pp. 565-613

Geert Bekaert and Campbell Harvey

Going Public without Governance: Managerial Reputation Effects pp. 615-646

Armando Gomes

Agency Conflicts in Public and Negotiated Transfers of Corporate Control pp. 647-677

Mike Burkart, Denis Gromb and Fausto Panunzi

Can Relationship Banking Survive Competition? pp. 679-713

Arnoud Boot and Anjan Thakor

Some Evidence on the Uniqueness of Initial Public Debt Offerings pp. 715-743

Sudip Datta, Mai Iskandar‐Datta and Ajay Patel

Mean Reversion across National Stock Markets and Parametric Contrarian Investment Strategies pp. 745-772

Ronald Balvers, Yangru Wu and Erik Gilliland

Trading Is Hazardous to Your Wealth: The Common Stock Investment Performance of Individual Investors pp. 773-806

Brad Barber and Terrance Odean

How Does Information Quality Affect Stock Returns? pp. 807-837

Pietro Veronesi

Option Prices, Implied Price Processes, and Stochastic Volatility pp. 839-866

Mark Britten‐Jones and Anthony Neuberger

Is Group Affiliation Profitable in Emerging Markets? An Analysis of Diversified Indian Business Groups pp. 867-891

Tarun Khanna and Krishna Palepu

Demand Curves for Stocks Do Slope Down: New Evidence from an Index Weights Adjustment pp. 893-912

Aditya Kaul, Vikas Mehrotra and Randall Morck

Trading Volume and Cross‐Autocorrelations in Stock Returns pp. 913-935

Tarun Chordia and Bhaskaran Swaminathan

Truth in Mutual Fund Advertising: Evidence on Future Performance and Fund Flows pp. 937-958

Prem C. Jain and Joanna Shuang Wu

A Model of Returns and Trading in Futures Markets pp. 959-988

Harrison Hong

Arbitrage and the Expectations Hypothesis pp. 989-994

Francis Longstaff

Volume 55, issue 1, 2000

Agency Problems and Dividend Policies around the World pp. 1-33

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

The Cost of Diversity: The Diversification Discount and Inefficient Investment pp. 35-80

Raghuram Rajan, Henri Servaes and Luigi Zingales

Agency Costs and Ownership Structure pp. 81-106

James S. Ang, Rebel Cole and James Wuh Lin

Financing Policy, Basis Risk, and Corporate Hedging: Evidence from Oil and Gas Producers pp. 107-152

G. David Haushalter

The Exploitation of Relationships in Financial Distress: The Case of Trade Credit pp. 153-178

Benjamin S. Wilner

Portfolio Selection and Asset Pricing Models pp. 179-223

Lubos Pastor

Investing for the Long Run when Returns Are Predictable pp. 225-264

Nicholas Barberis

Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies pp. 265-295

Harrison Hong, Terence Lim and Jeremy Stein

Trading and Returns under Periodic Market Closures pp. 297-354

Harrison Hong and Jiang Wang

Is the Short Rate Drift Actually Nonlinear? pp. 355-388

David Chapman and Neil D. Pearson

Characteristics, Covariances, and Average Returns: 1929 to 1997 pp. 389-406

James L. Davis, Eugene F. Fama and Kenneth French

Sorting Out Sorts pp. 407-427

Jonathan B. Berk

Stock Splits, Tick Size, and Sponsorship pp. 429-450

Paul Schultz

Effectiveness of Capital Regulation at U.S. Commercial Banks, 1985 to 1994 pp. 451-468

Armen Hovakimian and Edward Kane

Liquidity and Liquidation: Evidence from Real Estate Investment Trusts pp. 469-485

David T. Brown

The Effect of Options on Stock Prices: 1973 to 1995 pp. 487-514

Sorin M. Sorescu