Journal of Finance

1946 - 2025

From American Finance Association
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Volume 45, issue 5, 1990

Overreaction or Fundamentals: Some Lessons from Insiders' Response to the Market Crash of 1987 pp. 1363-88

H Nejat Seyhun

Efficiency and Organizational Structure: A Study of Reverse LBOs pp. 1389-1413

Chris J Muscarella and Michael R Vetsuypens

Dividend Policy and Financial Distress: An Empirical Investigation of Troubled NYSE Firms pp. 1415-31

Harry DeAngelo and Linda DeAngelo

Defensive Changes in Corporate Payout Policy: Share Repurchases and Special Dividends pp. 1433-56

David J Denis

Security Pricing and Deviations from the Absolute Priority Rule in Bankruptcy Proceedings pp. 1457-69

Allan C Eberhart, William T Moore and Rodney L Roenfeldt

Do Taxes Affect Corporate Financing Decisions? pp. 1471-93

Jeffrey Mackie-Mason

International Capital Structure Equilibrium pp. 1495-1516

James E Hodder and Lemma W Senbet

Determinants of Secondary Market Prices for Developing Country Syndicated Loans pp. 1517-40

Ekkehart Boehmer and William L Megginson

Sequential Tests of the Arbitrage Pricing Theory: A Comparison of Principal Components and Maximum Likelihood Factors pp. 1541-64

Ravi Shukla and Charles Trzcinka

The Quality Delivery Option in Treasury Bond Futures Contracts pp. 1565-86

Michael L Hemler

Deposit Insurance and Wealth Effects: The Value of Being "Too Big to Fail." pp. 1587-1600

Maureen O'Hara and Wayne Shaw

The Distribution of Daily Stock Returns and Settlement Procedures: The Paris Bourse pp. 1601-09

Bruno Solnik

High Stock Returns before Holidays: Existence and Evidence on Possible Causes pp. 1611-26

Robert A Ariel

Managerial Share Ownership and the Stock Price Effects of Antitakeover Amendment Proposals pp. 1627-40

Victoria B McWilliams

Product Market Imperfections and Loan Commitments pp. 1641-53

Vojislav Maksimovic

Performance Measurement under Asymmetric Information and Investment Constraints pp. 1655-61

Michel Gendron and Christian Genest

Changes in Interstate Banking Laws: The Impact of Shareholder Wealth pp. 1663-71

Harold A Black, M Andrew Fields and Robert L Schweitzer

Corporate Risk Management and the Incentive Effects of Debt pp. 1673-86

Tim S Campbell and William A Kracaw

The Relative Termination Experience of Adjustable to Fixed-Rate Mortgages pp. 1687-1703

Donald F Cunningham and Charles Capone

Bank Funding Risks, Risk Aversion, and the Choice of Futures Hedging Instrument: A Comment pp. 1705-07

Tim S Campbell and William A Kracaw

Excess Asset Reversions and Shareholder Wealth: A Comment pp. 1709-14

Norman H Moore and Stephen Pruitt

Volume 45, issue 4, 1990

Shareholder Preferences and Dividend Policy pp. 993-1018

Michael Brennan and Anjan Thakor

Equity Issues and Stock Price Dynamics pp. 1019-43

Deborah Lucas and Robert L McDonald

Initial Public Offerings and Underwriter Reputation pp. 1045-67

Richard B Carter and Steven Manaster

Asymmetric Information, Bank Lending, and Implicit Contracts: A Stylized Model of Customer Relationships pp. 1069-87

Steven Sharpe

Stock Returns, Expected Returns, and Real Activity pp. 1089-1108

Eugene Fama

Predicting Stock Returns in an Efficient Market pp. 1109-28

Ronald Balvers, Thomas Cosimano and Bill McDonald

Heteroskedasticity in Stock Returns pp. 1129-55

G. Schwert and Paul J Seguin

Liquidity of the CBOE Equity Options pp. 1157-79

Anand M Vijh

Pricing Warrants: An Empirical Study of the Black-Scholes Model and Its Alternatives pp. 1181-209

Beni Lauterbach and Paul Schultz

The Behavior of Eurocurrency Returns across Different Holding Periods and Monetary Regimes pp. 1211-36

Karen Lewis

Stock Returns and Real Activity: A Century of Evidence pp. 1237-57

G. Schwert

Turn-of-Month Evaluations of Liquid Profits and Stock Returns: A Common Explanation for the Monthly and January Effects pp. 1259-72

Joseph P Ogden

Insider Trading in the OTC Market pp. 1273-84

Ji-Chai Lin and John S Howe

The Effects of Stock Splits on Bid-Ask Spreads pp. 1285-95

Robert M Conroy, Robert S Harris and Bruce A Benet

The Intertemporal Relation between the U.S. and Japanese Stock Markets pp. 1297-1306

Kent G Becker, Joseph E Finnerty and Manoj Gupta

Time Varying Term Premia and Traditional Hypotheses about the Term Structure pp. 1307-14

Francis Longstaff

Optimal Hedging under Intertemporally Dependent Preferences pp. 1315-24

Eric Briys, Michel Crouhy and Harris Schlesinger

Corporate Capital Structure, Agency Costs, and Ownership Control: The Case of All-Equity Firms pp. 1325-31

Anup Agrawal and Nandu J Nagarajan

Forward and Futures Prices: Evidence from the Foreign Exchange Markets pp. 1333-36

Carolyn W Chang and Jack S K Chang

Changes in the Cost of Intermediation: The Case of Savings and Loans pp. 1337-46

Richard L B Le Compte and Stephen D Smith

Volume 45, issue 3, 1990

Latent Assets pp. 709-30

Michael Brennan

Determinants of Thrift Institution Resolution Costs pp. 731-54

James Barth, Philip F Bartholomew and Michael Bradley

Principal-Agent Problems in S&L Salvage pp. 755-64

Edward Kane

Financial Contracting and Leverage Induced Over- and Under-Investment Incentives pp. 765-94

Elazar Berkovitch and E Han Kim

Debt and Input Misallocation pp. 795-816

Moshe Kim and Vojislav Maksimovic

The Distribution of Target Ownership and the Division of Gains in Successful Takeovers pp. 817-33

René Stulz, Ralph A Walkling and Moon H Song

Information Content of Insider Trading Around Corporate Announcements: The Case of Capital Expenditures pp. 835-55

Kose John and Banikanta Mishra

Stock Dividends, Stock Splits, and Signaling pp. 857-79

Maureen McNichols and Ajay Dravid

Evidence of Predictable Behavior of Security Returns pp. 881-98

Narasimhan Jegadeesh

Equilibrium Exchange Rate Hedging pp. 899-907

Fischer Black

Default Risk in Futures Markets: The Customer-Broker Relationship pp. 909-33

James V Jordan and George Emir Morgan

Pricing Options with Extendible Maturities: Analysis and Applications pp. 935-57

Francis Longstaff

Stochastic Convenience Yield and the Pricing of Oil Contingent Claims pp. 959-76

Rajna Gibson and Eduardo S Schwartz

Volume 45, issue 2, 1990

Capital Structure and the Informational Role of Debt pp. 321-49

Milton Harris and Artur Raviv

Corporate Financial Policy and the Theory of Financial Intermediation pp. 351-77

James K Seward

Positive Feedback Investment Strategies and Destabilizing Rational Speculation pp. 379-95

De Long, J Bradford, et al

Are the Latent Variables in Time-Varying Expected Returns Compensation for Consumption Risk? pp. 397-429

Wayne E Ferson

Empirical Estimates of Beta When Investors Face Estimation Risk pp. 431-53

Peter M Clarkson and Rex Thompson

Anomalous Price Behavior around Repurchase Tender Offers pp. 455-77

Josef Lakonishok and Theo Vermaelen

Expectations and the Treasury Bill-Federal Funds Rate Spread over Recent Monetary Policy Regimes pp. 467-77

David P Simon

Relative Price Variability, Real Shocks, and the Stock Market pp. 479-96

Gautam Kaul and H Nejat Seyhun

Evaluating the Performance of International Mutual Funds pp. 497-521

Robert Cumby and Jack D Glen

International Investment Restrictions and Closed-End Country Fund Prices pp. 523-47

Bonser-Neal, Catherine, et al

Valuing Flexibility as a Complex Option pp. 549-65

Alexander J Triantis and James E Hodder

Statistical Properties of the Roll Serial Covariance Bid/Ask Spread Estimator pp. 579-90

Lawrence Harris

An Examination of Stock Market Return Volatility during Overnight and Intraday Periods, 1964-1989 pp. 591-601

Larry J Lockwood and Scott Linn

Corporate Control and the Choice of Investment Financing: The Case of Corporate Acquisitions pp. 603-16

Yakov Amihud, Baruch Lev and Nickolaos G Travlos

The Effect of Executive Stock Option Plans on Stockholders and Bondholders pp. 617-27

Richard A DeFusco, Robert R Johnson and Thomas S Zorn

The Structure of Spot Rates and Immunization pp. 629-42

Edwin J Elton, Martin J Gruber and Roni Michaely

Ownership Structure, Deregulation, and Bank Risk Taking pp. 643-54

Anthony Saunders, Elizabeth Strock and Nickolaos G Travlos

International Interest Rates, Exchange Rates, and the Stochastic Structure of Supply pp. 655-71

Glenn Boyle

On Viable Diffusion Price Processes of the Market Portfolio pp. 673-89

Avi Bick

An Examination of the Super Bowl Stock Market Predictor pp. 691-97

Thomas M Krueger and William F Kennedy

Volume 45, issue 1, 1990

Margin Regulation and Stock Market Volatility pp. 3-29

David A Hsieh and Merton Miller

Do Managerial Objectives Drive Bad Acquisitions? pp. 31-48

Randall Morck, Andrei Shleifer and Robert Vishny

Financial Intermediaries and Liquidity Creation pp. 49-71

Gary Gorton and George Pennacchi

Equilibrium Block Trading and Asymmetric Information pp. 73-94

Duane J Seppi

An Examination of the Impact of the Garn-St. Germain Depository Institutions Act of 1982 on Commercial Banks and Savings and Loans pp. 95-111

Marcia H Millon-Cornett and Hassan Tehranian

Modeling Structural and Temporal Variation in the Market's Valuation of Banking Firms pp. 113-36

Edward Kane and Haluk Unal

How Target Shareholders Benefit from Value-Reducing Defensive Strategies in Takeovers pp. 137-56

Elazar Berkovitch and Naveen Khanna

Purchasing Power Parity in the Long Run pp. 157-74

Niso Abuaf and Philippe Jorion

Disentangling the Coefficient of Relative Risk Aversion from the Elasticity of Intertemporal Substitution: An Irrelevance Result pp. 175-90

Narayana Kocherlakota

Intraday Price Change and Trading Volume Relations in the Stock and Stock Option Markets pp. 191-220

Jens A Stephan and Robert E Whaley

Heteroskedasticity in Stock Return Data: Volume versus GARCH Effects pp. 221-29

Christopher G Lamoureux and William Lastrapes

The Weekend Effect: Trading Patterns of Individual and Institutional Investors pp. 231-43

Josef Lakonishok and Edwin Maberly

Can Futures Market Data Be Used to Understand the Behavior of Real Interest Rates? pp. 245-57

Frederic Mishkin

On Arbitrage-Free Pricing of Interest Rate Contingent Claims pp. 259-64

Peter Ritchken and Kiekie Boenawan

Default Risk and the Duration of Zero Coupon Bonds pp. 265-74

Don M Chance

The Shelf Registration of Debt and Self Selection Bias pp. 275-87

David S Allen, Robert E Lamy and G Rodney Thompson

Corporate Sale-and-Leasebacks and Shareholder Wealth pp. 289-99

Myron B Slovin, Marie E Sushka and John A Polonchek

Patterns of Productivity in the Finance Literature: A Study of the Bibliometric Distributions pp. 301-09

Kee H Chung and Raymond Cox