Journal of Finance

1946 - 2025

From American Finance Association
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Volume 52, issue 5, 1997

Do Long-Term Shareholders Benefit from Corporate Acquisitions? pp. 1765-90

Tim Loughran and Anand M Vijh

Myth or Reality? The Long-Run Underperformance of Initial Public Offerings: Evidence from Venture and Nonventure Capital-Backed Companies pp. 1791-1821

Alon Brav and Paul Gompers

The Operating Performance of Firms Conducting Seasoned Equity Offerings pp. 1823-50

Tim Loughran and Jay Ritter

International Portfolio Investment Flows pp. 1851-80

Michael Brennan and Huining Cao

International Asset Pricing and Portfolio Diversification with Time-Varying Risk pp. 1881-1912

Giorgio De Santis and Bruno Gerard

Risk Premia and Variance Bounds pp. 1913-49

Pierluigi Balduzzi and Hedi Kallal

Stock Return Predictability and the Role of Monetary Policy pp. 1951-72

Alex D Patelis

A Nonparametric Model of Term Structure Dynamics and the Market Price of Interest Rate Risk pp. 1973-2002

Richard Stanton

Empirical Performance of Alternative Option Pricing Models pp. 2003-49

Gurdip Bakshi, Charles Cao and Zhiwu Chen

Special Repo Rates: An Empirical Analysis pp. 2051-72

Bradford Jordan and Susan D Jordan

Speculation Duopoly with Agreement to Disagree: Can Overconfidence Survive the Market Test? pp. 2073-90

Albert Kyle and F Albert Wang

Journal Influence on the Design of Finance Doctoral Education pp. 2091-2102

Charles Corrado and Stephen P Ferris

Trading Costs and Exchange Delisting: The Case of Firms That Voluntarily Move from the American Stock Exchange to the Nasdaq pp. 2103-12

Paul Clyde, Paul Schultz and Mir Zaman

Cost of Transacting and Expected Returns in the Nasdaq Market pp. 2113-27

Venkat Eleswarapu

Winner-Loser Reversals in National Stock Market Indices: Can They Be Explained? pp. 2129-44

Anthony Richards

An Examination of Uncovered Interest Rate Parity in Segmented International Commodity Markets pp. 2145-70

Burton Hollifield and Raman Uppal

A New Look at the Monday Effect pp. 2171-86

Ko Wang, Yuming Li and John Erickson

Endogenous Borrowing Constraints with Incomplete Markets pp. 2187-2209

Harold Zhang

Volume 52, issue 4, 1997

An Econometric Model of the Term Structure of Interest-Rate Swap Yields pp. 1287-1321

Darrell Duffie and Kenneth Singleton

Why Firms Use Currency Derivatives pp. 1323-54

Christopher Geczy, Bernadette A Minton and Catherine Schrand

On the Robustness of Size and Book-to-Market in Cross-Sectional Regressions pp. 1355-82

Peter J Knez and Mark Ready

Approximating the Asset Pricing Kernel pp. 1383-1410

David Chapman

Managerial Entrenchment and Capital Structure Decisions pp. 1411-38

Philip G Berger, Eli Ofek and David Yermack

Do Firms Knowingly Sell Overvalued Equity? pp. 1439-66

Inmoo Lee

Defensive Mechanisms and Managerial Discretion pp. 1467-93

Ronald Giammarino, Robert Heinkel and Burton Hollifield

CEO Contracting and Antitakeover Amendments pp. 1495-1517

Kenneth A Borokhovich, Kelly R Brunarski and Robert Parrino

The Cyclical Behavior of Interest Rates pp. 1519-42

Antonio Roma and Walter Torous

Institutions and Individuals at the Turn-of-the-Year pp. 1543-62

Richard W Sias and Laura T Starks

Portfolio Disclosures and Year-End Price Shifts pp. 1563-88

David K Musto

Informed Traders, Intervention, and Price Leadership: A Deeper View of the Microstructure of the Foreign Exchange Market pp. 1589-1614

Bettina Peiers

Does the Specialist Matter? Differential Execution Costs and Intersecurity Subsidization on the New York Stock Exchange pp. 1615-40

Charles Cao, Hyuk Choe and Frank Hatheway

Corporate Governance and Equity Prices: Evidence from the Czech and Slovak Republics pp. 1641-58

Stijn Claessens

Public Offerings of State-Owned and Privately-Owned Enterprises: An International Comparison pp. 1659-79

Kathryn Dewenter and Paul Malatesta

The Relation between Default-Free Interest Rates and Expected Economic Growth Is Stronger Than You Think pp. 1681-94

Avraham Kamara

Gaussian Estimation of Single-Factor Continuous Time Models of the Term Structure of Interest Rates pp. 1695-1706

K B Nowman

The Market for Equity Options in the 1870s pp. 1707-23

Kairys, Joseph P, and Valerio, Nicholas,

Testing Market Efficiency: Evidence from the NFL Sports Betting Market pp. 1725-37

Philip K Gray and Stephen F Gray

Volume 52, issue 3, 1997

The Stochastic Behavior of Commodity Prices: Implications for Valuation and Hedging pp. 923-73

Eduardo S Schwartz

Heterogeneous Information Arrivals and Return Volatility Dynamics: Uncovering the Long-Run in High Frequency Returns pp. 975-1005

Torben Andersen and Tim Bollerslev

Do Changes in Dividends Signal the Future or the Past? pp. 1007-34

Shlomo Benartzi, Roni Michaely and Richard Thaler

Measuring Mutual Fund Performance with Characteristic-Based Benchmarks pp. 1035-58

Daniel, Kent, et al

Market Segmentation and Stock Prices: Evidence from an Emerging Market pp. 1059-85

Ian Domowitz, Jack Glen and Ananth Madhavan

Stock Market Efficiency and Economic Efficiency: Is There a Connection? pp. 1087-1129

James Dow and Gary Gorton

Legal Determinants of External Finance pp. 1131-50

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

Options on Leveraged Equity: Theory and Empirical Tests pp. 1151-80

Klaus Bjerre Toft and Brian Prucyk

Public Policy and Financial Markets: Privatizing Social Security pp. 1182-84

Martin Feldstein

Systemic Problems in the Next Market Crash pp. 1184-88

Robert R Glauber

The Regulatory Agency Cost Problem pp. 1189-93

Mullins, David W,

Regulatory Issues in a Technologically Advanced World pp. 1193-98

Steven M H Wallman

Volume 52, issue 2, 1997

Good Timing: CEO Stock Option Awards and Company News Announcements pp. 449-76

David Yermack

How Much Do Taxes Discourage Incorporation? pp. 477-505

Jeffrey Mackie-Mason and Roger Gordon

Analyst Following of Initial Public Offerings pp. 507-29

Raghuram Rajan and Henri Servaes

Strategic Debt Service pp. 531-56

Pierre Mella-Barral and William Perraudin

Assessing Specification Errors in Stochastic Discount Factor Models pp. 557-90

Lars Hansen and Ravi Jagannathan

Assessing Goodness-of-Fit of Asset Pricing Models: The Distribution of the Maximal R-Squared pp. 591-607

Frederick Foster, Tom Smith and Robert E Whaley

Are There Tax Effects in the Relative Pricing of U.S. Government Bonds? pp. 609-33

Richard Green and Bernt Ødegaard

On Stock Market Returns and Monetary Policy pp. 635-54

Willem Thorbecke

Tick Size, Share Prices, and Stock Splits pp. 655-81

James Angel

When It's Not the Only Game in Town: The Effect of Bilateral Search on the Quality of a Dealer Market pp. 683-712

Christopher G Lamoureux and Charles R Schnitzlein

Institutional Equity Trading Costs: NYSE versus Nasdaq pp. 713-35

Louis K C Chan and Josef Lakonishok

A Survey of Corporate Governance pp. 737-83

Andrei Shleifer and Robert Vishny

The Valuation of Complex Derivatives by Major Investment Firms: Empirical Evidence pp. 785-98

Antonio E Bernardo and Bradford Cornell

Equilibrium Valuation of Foreign Exchange Claims pp. 799-826

Gurdip S Bakshi and Zhiwu Chen

The Valuation of American Options with Stochastic Interest Rates: A Generalization of the Geske-Johnson Technique pp. 827-40

T S Ho, Richard C Stapleton and Marti G Subrahmanyam

The Implications of Equity Issuance Decisions within a Parent-Subsidiary Governance Structure pp. 841-57

Myron B Slovin and Marie E Sushka

Good News for Value Stocks: Further Evidence on Market Efficiency pp. 859-74

La Porta, Rafael, et al

Firm Size, Book-to-Market Ratio, and Security Returns: A Holdout Sample of Financial Firms pp. 875-83

Brad Barber and John D Lyon

Price Limit Performance: Evidence from the Tokyo Stock Exchange pp. 885-99

Kenneth Kim and S Ghon Rhee

Volume 52, issue 1, 1997

Evidence on the Characteristics of Cross Sectional Variation in Stock Returns pp. 1-33

Kent Daniel and Sheridan Titman

The Limits of Arbitrage pp. 35-55

Andrei Shleifer and Robert Vishny

On Persistence in Mutual Fund Performance pp. 57-82

Mark Carhart

Cash Flow and Investment: Evidence from Internal Capital Markets pp. 83-109

Owen Lamont

Internal Capital Markets and the Competition for Corporate Resources pp. 111-33

Jeremy Stein

Agency Problems, Equity Ownership, and Corporate Diversification pp. 135-60

David J Denis, Diane K Denis and Atulya Sarin

Transactions Costs and Capital Structure Choice: Evidence from Financially Distressed Firms pp. 161-96

Stuart C Gilson

Equity Issuance and Adverse Selection: A Direct Test Using Conditional Stock Offers pp. 197-219

Joel F Houston and Michael D Ryngaert

Quotes, Order Flow, and Price Discovery pp. 221-44

Marshall E Blume and Michael Goldstein

Competition and Collusion in Dealer Markets pp. 245-76

Prajit K Dutta and Ananth Madhavan

Market Orders and Market Efficiency pp. 277-308

David P Brown and Zhi Ming Zhang

Transactions Costs and Holding Periods for Common Stocks pp. 309-25

Allen B Atkins and Edward A Dyl

The Delisting Bias in CRSP Data pp. 327-40

Tyler Shumway

Third Market Broker-Dealers: Cost Competitors or Cream Skimmers? pp. 341-52

Robert H Battalio

Marketable Incentive Contracts and Capital Structure Relevance pp. 353-78

Gerald T Garvey

The Pricing of Initial Public Offers of Corporate Straight Debt pp. 379-96

Sudip Datta, Mai Iskandar-Datta and Ajay Patel

Dividends, Taxes, and Signaling: Evidence from Germany pp. 397-408

Yakov Amihud and Maurizio Murgia

Closed Form Solutions for Term Structure Derivatives with Log-Normal Interest Rates pp. 409-30

Kristian R Miltersen, Klaus Sandmann and Dieter Sondermann