Journal of Finance

1946 - 2025

From American Finance Association
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Volume 44, issue 3, 1989

Institutional Markets, Financial Marketing, and Financial Innovation pp. 541-556

Stephen Ross

Market Created Risk pp. 557-569

Alan Kraus and Maxwell Smith

Pricing Contingent Claims under Interest Rate and Asset Price Risk pp. 571-589

Naoki Kishimoto

Arbitrage‐Based Estimation of Nonstationary Shifts in the Term Structure of Interest Rates pp. 591-610

Robert R. Bliss and Ehud I. Ronn

Management Buyouts: Evidence on Taxes as a Source of Value pp. 611-632

Steven Kaplan

Disclosure Decisions by Firms and the Competition for Price Efficiency pp. 633-646

Michael J. Fishman and Kathleen M. Hagerty

Firm Value and the Choice of Offering Method in Initial Public Offerings pp. 647-662

Nancy L. Bower

Debt‐for‐Equity Swaps under a Rational Expectations Equilibrium pp. 663-680

Vihang R. Errunza and Arthur F. Moreau

The Size and Incidence of the Losses from Noise Trading pp. 681-696

J. Bradford de Long, Andrei Shleifer, Lawrence Summers and Robert Waldmann

Asset Pricing in Partially Segmented Markets: Evidence from the Finnish Market pp. 697-718

Pekka T. Hietala

Comovements in Stock Prices and Comovements in Dividends pp. 719-729

Robert Shiller

Information Losses in a Dynamic Model of Credit pp. 731-746

William Lang and Leonard Nakamura

An Empirical Investigation of U.S. Firms in Reorganization pp. 747-769

Julian R. Franks and Walter N. Torous

Free Cash Flow and Stockholder Gains in Going Private Transactions pp. 771-787

Kenneth Lehn and Annette Poulsen

The Term Structure of Interest Rates in a Partially Observable Economy pp. 789-812

David Feldman

Minutes of the Annual Membership Meeting pp. 813-814

Michael Keenan

Report of the Executive Secretary and Treasurer pp. 815-815

Michael Keenan

Report of the Managing Editor of The Journal of Finance for the Year 1988 pp. 819-825

René Stulz

Volume 42, issue 5, 1987

Time-Dependent Variance and the Pricing of Bond Options pp. 1113-28

Stephen M Schaefer and Eduardo S Schwartz

Arbitrage, Continuous Trading, and Margin Requirements pp. 1129-42

David C Heath and Robert Jarrow

Tax Arbitrage and the Existence of Equilibrium Prices for Financial Assets pp. 1143-66

Robert M Dammon and Richard Green

Forward Markets, Stock Markets, and the Theory of the Firm pp. 1167-85

Richard D MacMinn

An Empirical Investigation of the Market for Comex Gold Futures Options pp. 1187-94

Warren Bernard Bailey

The Seasonal Stability of the Factor Structure of Stock Returns pp. 1195-1211

David Chinhyung Cho and William M Taylor

Stock Return Anomalies and the Tests of the APT pp. 1213-24

Mustafa N Gultekin and N Bulent Gultekin

Efficient Financing under Asymmetric Information pp. 1225-43

Michael Brennan and Alan Kraus

The Issue Decision of Manager-Owners under Information Asymmetry pp. 1245-60

William Bradford

Acquisition of Divested Assets and Shareholders' Wealth pp. 1261-73

Neil W Sicherman and Richard H Pettway

Debt Management under Corporate and Personal Taxation pp. 1275-91

David C Mauer and Wilbur G Lewellen

Components of the Bid-Ask Spread and the Statistical Properties of Transaction Prices pp. 1293-1307

Lawrence R Glosten

The Temporal Price Relationship between S&P 500 Futures and the S and P 500 Index pp. 1309-29

Ira G Kawaller, Paul D Koch and Timothy W Koch

Off-Board Trading of NYSE-Listed Stocks: The Effects of Degregulation and the National Market System pp. 1331-45

James L Hamilton

The Market Reaction to Stock Splits pp. 1347-70

Christopher G Lamoureux and Percy Poon

Portfolio Selection in the Mean-Variance Model: A Note pp. 1371-76

Lars Nielsen

A Note on Quantity versus Price Risk and the Theory of Financial Intermediation pp. 1377-83

Stephen D Smith, Deborah Wright Gregory and Kathleen A Weiss

Friday the Thirteenth: 'Part VII'--A Note pp. 1385-87

Robert W Kolb and Ricardo J Rodriguez

Institutional Contributions to the Leading Finance Journals, 1975 through 1986: A Note pp. 1389-97

Niemi, Albert W,

Volume 42, issue 4, 1987

Costless Signalling in Financial Markets pp. 809-22

Gunter Franke

Managerial Incentives and Corporate Investment and Financing Decision s pp. 823-37

Anup Agrawal and Gershon Mandelker

Managerial Preference, Asymmetric Information, and Financial Structur e pp. 839-62

George W Blazenko

Trade Credit and Informational Asymmetry pp. 863-72

Janet Smith

Mean-Variance Spanning pp. 873-88

Gur Huberman and Shmuel Kandel

Corporate Financial Policy, Information, and Market Expectations: An Empirical Investigation of Dividends pp. 889-911

Aharon R Ofer and Daniel R Siegel

Stock Splits and Stock Dividends: Why, Who, and When pp. 913-32

Josef Lakonishok and Baruch Lev

The Effect of Long-term Performance Plans on Corporate Sell-Off-Induced Abnormal Returns pp. 933-42

Hassan Tehranaian, Nickolaos G Travlos and James F Waegelein

Corporate Takeover Bids, Methods of Payment, and Bidding Firms' Stock Returns pp. 943-63

Nickolaos G Travlos

The Pricing Effects of Interfirm Cash Tender Offers pp. 965-86

Sanjai Bhagat, James A Brickley and Uri Loewenstein

Lease Valuation When Taxable Earnings Are a Scarce Resource pp. 987-1005

Julian R Franks and Stewart D Hodges

Optimal Hedging in Futures Markets with Multiple Delivery Specifications pp. 1007-21

Avraham Kamara and Andrew F Siegel

Maturity Intermediation and Intertemporal Lending Policies of Financial Intermediaries pp. 1023-34

George Emir Morgan and Stephen D Smith

Order Arrival, Quote Behavior, and the Return-Generating Process pp. 1035-48

Joel Hasbrouck and Thomas S Y Ho

A Model of Intertemporal Discount Rates in the Presence of Real and Inflationary Autocorrelations pp. 1049-70

Donald I Bosshardt

A Note on the Pricing of Commodity-Linked Bonds pp. 1071-76

Peter Carr

The Effect of 12b-1 Plans on Mutual Fund Expense Ratios: A Note pp. 1077-82

Stephen P Ferris and Don M Chance

On the Resolution of Agency Problems by Complex Financial Instruments: A Comment [Resolving the Agency Problems of External Capital through Stock Options] pp. 1083-90

M P Narayanan

On the Resolution of Agency Problems by Complex Financial Instruments: A Reply pp. 1091-95

Robert A Haugen and Lemma W Senbet

Managerial Incentives for Short-term Results: A Comment pp. 1097-1102

Masako N Darrough

Managerial Incentives for Short-term Results: A Reply pp. 1103-04

M P Narayanan

Volume 42, issue 3, 1987

A Simple Model of Capital Market Equilibrium with Incomplete Information pp. 483-510

Robert Merton

Potential Competition and Actual Competition in Equity Options pp. 511-31

Robert Neal

Trading Mechanisms and Stock Returns: An Empirical Investigation pp. 533-53

Yakov Amihud and Haim Mendelson

Trading Mechanisms and Stock Returns: An Empirical Investigation: Discussion pp. 554-55

Maureen O'Hara

Further Evidence on Investor Overreaction and Stock Market Seasonalit y pp. 557-81

Werner F M De Bondt and Richard Thaler

Growth Opportunities and Risk-Taking by Financial Intermediaries pp. 583-99

Richard J Herring and Prashant Vankudre

Orthogonal Frontiers and Alternative Mean-Variance Efficiency Tests pp. 601-19

Bruce N Lehmann

Orthogonal Frontiers and Alternative Mean-Variance Efficiency Tests: Discussion pp. 620-22

Shmuel Kandel

Risk-Shifting Incentives and Signalling through Corporate Capital Structure pp. 623-41

Kose John

Asset Writedowns: Managerial Incentives and Security Returns pp. 643-61

John S Strong and John R Meyer

Asset Writedowns: Managerial Incentives and Security Returns: Discussion pp. 661-63

Anjan Thakor

Credit Granting: A Comparative Analysis of Classification Procedures pp. 665-81

Venkat Srinivasan and Yong H Kim

Credit Granting: A Comparative Analysis of Classification Procedures: Discussion pp. 681-83

Robert Eisenbeis

Death and Taxes: The Market for Flower Bonds pp. 685-98

David Mayers and Smith, Clifford W,

Death and Taxes: The Market for Flower Bonds: Discussion pp. 698-702

Robert C Witt

The Choice of Issuance Procedure and the Cost of Competitive and Negotiated Underwriting: An Examination of the Impact of Rule 50 pp. 703-20

Richard Smith

Gains from International Diversification: 1968-85 Returns on Portfolios of Stocks and Bonds pp. 721-39

Robert R Grauer and Nils H Hakansson

Gains from International Diversification: 1968-85 Returns on Portfolios of Stocks and Bonds: Discussion pp. 739-41

Michel Crouhy

Effects of Capital Gains Taxation on Life-Cycle Investment and Portfolio Management pp. 743-58

Yves Balcer and Kenneth Judd

Effects of Capital Gains Taxation on Life-Cycle Investment and Portfolio Management: Discussion pp. 758-61

Chester S Spatt

The Effect of Sequential Information Arrival on Asset Prices: An Experimental Study pp. 763-97

Thomas E Copeland and Daniel Friedman

Volume 42, issue 2, 1987

Tests of Asset Pricing with Time-Varying Expected Risk Premiums and Market Betas pp. 201-20

Wayne E Ferson, Shmuel Kandel and Robert Stambaugh

Nonsynchronous Data and the Covariance-Factor Structure of Returns pp. 221-31

Jay Shanken

Mutual Fund Performance Evaluation: A Comparison of Benchmarks and Benchmark Comparisons pp. 233-65

Bruce N Lehmann and David M Modest

The Pricing of Options with Default Risk pp. 267-80

Herb Johnson and René Stulz

The Pricing of Options on Assets with Stochastic Volatilities pp. 281-300

John C Hull and Alan White

Efficient Analytic Approximation of American Option Values pp. 301-20

Giovanni Barone-Adesi and Robert E Whaley

Efficient Signalling with Dividends and Investments pp. 321-43

Ramasastry Ambarish, Kose John and Joseph Williams

Collateral and Competitive Equilibria with Moral Hazard and Private Information pp. 345-63

Yuk-Shee Chan and Anjan Thakor

A Theory of Stock Price Responses to Alternative Corporate Cash Disbursement Methods: Stock Repurchases and Dividends pp. 365-94

Aharon R Ofer and Anjan Thakor

Forward Foreign Exchange Rates, Expected Spot Rates, and Premia: A Signal-Extraction Approach pp. 395-406

Christian Wolff

Reserves Announcements and Interest Rates: Does Monetary Policy Matter? pp. 407-22

Gikas Hardouvelis

A Multiproduct Cost Study of Savings and Loans pp. 423-45

Loretta Mester

Taxable vs. Tax-Exempt Bonds: A Note on the Effect of Uncertain Taxable Income pp. 447-51

Christopher D Piros

Can Tax-Loss Selling Explain the January Effect? A Note pp. 453-61

Charles P Jones, Douglas Pearce and Jack W Wilson

A Note on the Convergence of Binomial-Pricing and Compound-Option pp. 463-69

Edward Omberg

Positively Weighted Frontier Portfolios: A Note pp. 471

Lars Nielsen

A Note on the Local Expectations Hypothesis: A Discrete-Time Exposition--Erratum pp. 473

Christian Gilles and Stephen LeRoy

Volume 42, issue 1, 1987

Mimicking Portfolios and Exact Arbitrage Pricing pp. 1-9

Gur Huberman, Shmuel Kandel and Robert Stambaugh

Autoregressive Modeling of Earnings-Investment Causality pp. 11-28

Sasson Bar Yosef, Jeffrey L Callen and Joshua Livnat

Perquisites, Risk, and Capital Structure pp. 29-48

Joseph T Williams

Seasonality in the Risk-Return Relationship: Some International Evidence pp. 49-68

Albert Corhay, Gabriel Hawawini and Pierre Michel

Expectations of Exchange Rates and Differential Inflation Rates pp. 69-79

Roger D Huang

The Default Premium and Corporate Bond Experience pp. 81-97

Jerome S Fons

An Analysis of Yield Curve Notes pp. 99-110

Joseph P Ogden

Nonsynchronous Security Trading and Market Index Autocorrelation pp. 111-18

Michael D Atchison, Kirt C Butler and Richard R Simonds

The Puzzle in Post-listing Common Stock Returns pp. 119-40

John J McConnell and Gary C Sanger

Using Financial Prices to Test Exchange Rate Models: A Note pp. 141-49

Bruno Solnik

Asset Pricing and Dual Listing on Foreign Capital Markets: A Note pp. 151-58

Gordon Alexander, Cheol S Eun and S Janakiramanan

Initial Public Offer Underpricing: The Issuer's View--A Note pp. 159-62

Steven M Dawson

A Note on the Behavior of Stock Returns around Ex-dates of Stock Distributions pp. 163-68

Ajay R Dravid

Miller's Irrelevance Mechanism: A Note pp. 169-80

Varouj Aivazian and Jeffrey L Callen

The Distribution of Foreign Exchange Price Changes: Trading Day Effects and Risk Measurement--A Comment pp. 181-88

Jacky C So

The Distribution of Foreign Exchange Price Changes: Trading Day Effects and Risk Measurement--A Reply pp. 189-94

James W McFarland, R Richardson Pettit and Sam K Sung