Journal of Finance

1946 - 2025

From American Finance Association
Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

Access Statistics for this journal.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

Volume 39, issue 5, 1984

An Analysis of Brokers' and Analysts' Unpublished Forecasts of UK Stock Returns pp. 1257-92

Elroy Dimson and Paul R Marsh

Stock Returns, Inflation, and Economic Activity: The Survey Evidence pp. 1293-1310

Joel Hasbrouck

Estimating the Correlation Structure of International Share Prices pp. 1311-24

Cheol S Eun and Bruce Resnick

Shareholder Benefits from Corporate International Diversification pp. 1325-44

Ali M Fatemi

Are Real Interest Rates Equal across Countries? An Empirical Investigation of International Parity Conditions pp. 1345-57

Frederic Mishkin

Credit Rationing and Financial Disorder pp. 1359-82

Jack Guttentag and Richard Herring

Stability of the U.S. Short-run Money Demand Function, 1959-81 pp. 1383-96

Kuan-Pin Lin and John S Oh

New Evidence that Taxes Affect the Valuation of Dividends pp. 1397-1415

James Poterba and Lawrence Summers

The Structure of Asset Prices and Socially Useless-Useful Information pp. 1417-35

James Ohlson

Additional Evidence on the Relation between Divestiture Announcements and Shareholder Wealth pp. 1437-48

James D Rosenfeld

Mean-Gini, Portfolio Theory, and the Pricing of Risky Assets pp. 1449-68

Haim Shalit and Shlomo Yitzhaki

Portfolio Analysis Using Single Index, Multi-index, and Constant Correlation Models: A Unified Treatment pp. 1469-83

Clarence C Y Kwan

On Testing the Arbitrage Pricing Theory: Inter-battery Factor Analysis pp. 1485-1502

David Chinhyung Cho

A Simple Formula for the Expected Rate of Return of an Option over a Finite Holding Period pp. 1503-09

Mark Rubinstein

The American Put Option Valued Analytically pp. 1511-24

Robert Geske and Herb E Johnson

The Valuation of Options When Asset Returns Are Generated by a Binomial Process pp. 1525-39

Richard C Stapleton and Marti G Subrahmanyam

A Risk Minimizing Strategy for Portfolio Immunization pp. 1541-46

H Gifford Fong and Oldrich A Vasicek

Hedging Interest Rate Risk with Futures Portfolios under Term Structure Effects pp. 1547-70

Jimmy E Hilliard

Production and Risk Leveling in the Intertemporal Capital Asset Pricing Model pp. 1571-95

Earl L Grinols

The Impact of Seniority and Security Covenants on Bond Yields: A Note pp. 1597-1602

Gordon Roberts and Jerry A Viscione

New Findings Regarding Day-of-the-Week Returns over Trading and Non-trading Periods: A Note pp. 1603-14

Richard J Rogalski

Direct Equity Financing; A Resolution of a Paradox: A Comment pp. 1615-18

Richard Smith and Manjeet Dhatt

Direct Equity Financing; A Resolution of a Paradox: A Reply pp. 1619-24

Robert Hansen and John M Pinkerton

Volume 39, issue 4, 1984

Marketmaker Behavior in an Auction Market: An Analysis of Scalpers in Futures Markets pp. 937-53

William L Silber

Futures Markets and Informational Efficiency: A Laboratory Examination pp. 955-81

Robert Forsythe, Thomas Palfrey and Charles Plott

Theory and Behavior of Multiple Unit Discriminative Auctions pp. 983-1010

James Cox, Vernon Smith and James Walker

Money Market Funds and Shareholder Dilution pp. 1011-20

Andrew Lyon

Some Results in the Theory of Arbitrage Pricing pp. 1021-39

Ingersoll, Jonathan E,

Arbitrage Pricing Theory and Utility Stock Returns pp. 1041-54

Dorothy H Bower, Richard S Bower and Dennis E Logue

The Leasing Puzzle pp. 1055-65

James Ang and Pamela P Peterson

A Further Empirical Investigation of the Bankruptcy Cost Question pp. 1067-89

Edward Altman

Earnings and Dividend Announcements: Is There a Corroboration Effect? pp. 1091-99

Alex Kane, Young Ki Lee and Alan Marcus

Continuous Maturity Diversification of Default-Free Bond Portfolios and a Generalization of Efficient Diversification pp. 1101-17

W John Heaney and Pao L Cheng

Rational Expectations and the Measurement of a Stock's Elasticity of Demand pp. 1119-25

Franklin Allen and Andrew Postlewaite

A Simple Implicit Measure of the Effective Bid-Ask Spread in an Efficient Market pp. 1127-39

Richard Roll

The Effect of Interest Rate Changes on the Common Stock Returns of Financial Institutions pp. 1141-53

Mark Flannery and Christopher James

A Theoretic Framework for the Analysis of Credit Union Decision Making pp. 1155-68

Donald J Smith

Taxes and the Theory of Trade Debt pp. 1169-76

Ivan E Brick and William K H Fung

The Effects of Inflation and Money Supply Announcements on Interest Rates pp. 1177-88

Thomas J Urich and Paul Wachtel

Rankings of Finance Departments by Faculty Representation on Editorial Boards of Professional Journals: A Note pp. 1189-97

George G Kaufman

Bank Income Taxes and Interest Rate Risk Management: A Note pp. 1199-206

Eitan Gurel and David Pyle

Comparing Time-Series and Survey Forecasts of Weekly Changes in Money: A Methodological Note pp. 1207-13

Rik Hafer

The Effects of Transaction Costs and Different Borrowing and Lending Rates on the Option Pricing Model: A Note pp. 1215-21

Gilster, John E, and William Lee

Ordering Uncertain Options under Inflation: A Note pp. 1223-29

Haim Levy and Azriel Levy

Signaling and the Valuation of Unseasoned New Issues: A Comment pp. 1231-37

Jay Ritter

Volume 39, issue 3, 1984

The Capital Structure Puzzle pp. 575-92

Stewart C Myers

Optimal Financial Policy and Firm Valuation pp. 593-607

Michael Brennan and Eduardo S Schwartz

Optimal Financial Policy and Firm Valuation: Discussion pp. 607-09

David Emanuel

Contingent Claims Analysis of Corporate Capital Structures: An Empirical Investigation pp. 611-25

E Philip Jones, Scott P Mason and Eric Rosenfeld

Contingent Claims Analysis of Corporate Capital Structures: An Empirical Investigation pp. 625-27

Lawrence Fisher

Estimation of Implicit Bankruptcy Costs pp. 629-42

Kalaba, Robert E, et al

Estimation of Implicit Bankruptcy Costs: Discussion pp. 643-45

Richard Ruback

Consumption Betas and Backwardation in Commodity Markets pp. 647-55

Thomas B Hazuka

Hedging Performance and Basis Risk in Stock Index Futures pp. 657-69

Stephen Figlewski

The Behavior of U.S. Short-Term Interest Rates since October 1979 pp. 671-82

Richard Clarida and Benjamin M Friedman

The Behavior of U.S. Short-Term Interest Rates since October 1979: Discussion pp. 682-83

Roger Craine

Expectations, Surprises and Treasury Bill Rates: 1960-82 pp. 685-96

Patric Hendershott

Expectations, Surprises and Treasury Bill Rates: 1960-82 pp. 696-98

Donald J Mullineaux

Inflation and Real Interest Rates on Assets with Different Risk Characteristics pp. 699-712

John Huizinga and Frederic Mishkin

Inflation and Real Interest Rates on Assets with Different Risk Characteristics: Discussion pp. 712-14

Ward S Curran

Purchasing Power Parity as a Trading Strategy pp. 715-24

John Bilson

Purchasing Power Parity as a Trading Strategy: Discussion pp. 724-25

Bradford Cornell

International Corporate Diversification, Market Valuation, and Size-Adjusted Evidence pp. 727-43

Vihang R Errunza and Lemma W Senbet

International Corporate Diversification, Market Valuation, and Size-Adjusted Evidence: Discussion pp. 743-45

James L Bicksler

Term Premia on Euro Rates pp. 747-55

Dennis E Logue and Richard James Sweeney

Term Premia on Euro Rates: Discussion pp. 755-57

Richard J Herring

Technological and Regulatory Forces in the Developing Fusion of Financial-Services Competition pp. 759-72

Edward Kane

Technological and Regulatory Forces in the Developing Fusion of Financial-Services Competition: Discussion pp. 772-73

David S Kidwell

Deposit Insurance in a Deregulated Environment pp. 775-85

Tim S Campbell and David Glenn

Deposit Insurance in a Deregulated Environment: Discussion pp. 785-87

Paul M Horvitz

Consequences of Deregulation for Commercial Banking pp. 789-803

George G Kaufman, Larry R Mote and Harvey Rosenblum

Consequences of Deregulation for Commercial Banking: Discussion pp. 803-05

Robert Eisenbeis

Anomalies in Security Returns and the Specification of the Market Model pp. 807-15

Stephen Brown and Christopher B Barry

Anomalies in Security Returns and the Specification of the Market Model: Discussion pp. 815-17

Kenneth French

A Further Investigation of the Weekend Effect in Stock Returns pp. 819-35

Donald Keim and Robert Stambaugh

A Further Investigation of the Weekend Effect in Stock Returns pp. 835-37

Richard J Rogalski

Valuation Anomalies-Empirical: Discussion: What the Anomalies Mean pp. 837-40

Marc R Reinganum

How Big Is the Tax Advantage to Debt? pp. 841-53

Alex Kane, Alan Marcus and Robert L McDonald

How Big Is the Tax Advantage to Debt? Discussion pp. 853-55

Ronald Masulis

On the Existence of an Optimal Capital Structure: Theory and Evidence pp. 857-78

Michael Bradley, Gregg A Jarrell and E Han Kim

On the Existence of an Optimal Capital Structure: Theory and Evidence: Discussion pp. 878-80

Wayne H Mikkelson

Benefits of Bank Diversification: The Evidence from Shareholder Returns pp. 881-92

Robert Eisenbeis, Robert S Harris and Josef Lakonishok

Benefits of Bank Diversification: The Evidence from Shareholder Returns: Discussion pp. 893-94

Stephen Brown

External Financing and Liquidity pp. 895-908

Gur Huberman

External Financing and Liquidity: Discussion pp. 908-10

Andrew H Chen

Non-Standard C.A.P.M.'s and the Market Portfolio pp. 911-24

Edwin J Elton and Martin J Gruber

Volume 39, issue 2, 1984

A Critical Reexamination of the Empirical Evidence on the Arbitrage Pricing Theory pp. 323-46

Phoebus J Dhrymes, Irwin Friend and N Bulent Gultekin

A Critical Reexamination of the Empirical Evidence on the Arbitrage Pricing Theory: A Reply pp. 347-50

Richard Roll and Stephen Ross

Intertemporal Commodity Futures Hedging and the Production Decision pp. 351-76

Thomas S Y Ho

Seasonality Estimation in Thin Markets pp. 377-92

Michael Theobald and Vera Price

Tax Effects in Term Structure Estimation pp. 393-406

James V Jordan

The Demand for Borrowed Reserves: A Switching Regression Model pp. 407-24

Donald Dutkowsky

Conditions for Myopic Valuation and Serial Independence of the Market Excess Return in Discrete Time Models pp. 425-42

Gunter Franke

On Valuing American Call Options with the Black-Scholes European Formula pp. 443-55

Robert Geske and Richard Roll

The Ex-Dividend Day Behavior of Canadian Stock Prices: Tax Changes and Clientele Effects pp. 457-76

Laurence D Booth and David J Johnston

Investment Management and Risk Sharing with Multiple Managers pp. 477-91

Christopher B Barry and Laura T Starks

Real Stock Returns and Inflation pp. 493-502

Theodore E Day

Investigating the Valuation Effects of Announcements of Voluntary Corporate Selloffs pp. 503-17

Gordon Alexander, P George Benson and Joan M Kampmeyer

Option Pricing Bounds in Discrete Time pp. 519-25

Stylianos Perrakis and Peter J Ryan

The Harmonic Mean and Other Necessary Conditions for Stochastic Dominance pp. 527-34

William H Jean

Municipal Bond Demand Premiums and Bond Price Volatility: A Note pp. 535-39

Duane Stock and Edward L Schrems

A General Diversification Theorem: A Note pp. 541-50

Richard D MacMinn

The Ex-Dividend Day Behavior of Stock Prices; a Re-Examination of the Clientele Effect: A Comment pp. 551-56

Edwin J Elton, Martin J Gruber and Joel Rentzler

The Ex-Dividend Day Behavior of Stock Prices; a Re-Examination of the Clientele Effect: A Reply pp. 556-61

Avner Kalay

Erratum: Flotation Cost Adjustment in Rate of Return Regulation: A Reply pp. 563

Enrique Arzac and Matityahu Marcus

Volume 39, issue 1, 1984

An International Study of Tax Effects on Government Bonds pp. 1-22

Robert H Litzenberger and Jacques Rolfo

Dealer Bid-Ask Quotes and Transaction Prices: An Empirical Study of Some AMEX Options pp. 23-45

Thomas S Y Ho and Richard G Macris

Mean-Variance versus Direct Utility Maximization pp. 47-61

Yoram Kroll, Haim Levy and Harry Markowitz

On the Exclusion of Assets from Tests of the Mean Variance Efficiency of the Market Portfolio pp. 63-75

Shmuel Kandel

Consumption and Equilibrium Interest Rates in Stochastic Production Economies pp. 77-92

Mahadevan Sundaresan

Capital Structure Equilibrium under Market Imperfections and Incompleteness pp. 93-103

Lemma W Senbet and Taggart, Robert A,

Taxes, Inflation and Corporate Financial Policy pp. 105-26

Lawrence D Schall

Corporate Behavior in Adjusting to Capital Structure and Dividend Targets: An Econometric Study pp. 127-45

Abolhassan Jalilvand and Robert S Harris

Models of Stock Returns-A Comparison pp. 147-65

Stanley J Kon

A Partial Theory of Takeover Bids pp. 167-83

D J Ashton and D R Atkins

The Turn-of-the-Year in China pp. 185-92

Angel Berges, John J McConnell and Gary G Schlarbaum

Commodity Bonds and Consumption Risks pp. 193-206

Maureen O'Hara

The Valuation of Multivariate Contingent Claims in Discrete Time Models pp. 207-28

Richard C Stapleton and Marti G Subrahmanyam

The Valuation of Assets under Moral Hazard pp. 229-38

Ram T S Ramakrishnan and Anjan Thakor

Short Sales Restrictions and Kinks on the Mean Variance Frontier pp. 239-44

Philip Dybvig

On the Jensen Measure and Marginal Improvements in Portfolio Performance: A Note pp. 245-51

J D Jobson and Bob Korkie

The Value of the Tax Treatment of Original-Issue Deep-Discount Bonds: A Note pp. 253-59

Marcelle Arak and Andrew Silver

Option Pricing When the Underlying Asset Earns a Below-Equilibrium Rate of Return: A Note pp. 261-65

Robert McDonald and Daniel Siegel

Stock Market Returns and Real Activity: A Note pp. 267-73

Roger D Huang and William A Kracaw

Conglomerate Merger, Wealth Redistribution and Debt: A Note pp. 275-81

Chun H Lam and Kenneth J Boudreaux

Negative Cash Flows, Duration, and Immunization: A Note pp. 283-88

Patricia Knain Little

Flotation Cost Allowance for the Regulated Firm: A Comment pp. 289-91

Keith M Howe

Flotation Cost Allowance for the Regulated Firm: A Reply pp. 293-94

Enrique Arzac and M Marcus

Information Diversity and Market Behavior: A Comment pp. 295-97

Donald P Minassian

Information Diversity and Market Behavior: A Reply pp. 299-302

Stephen Figlewski

Notes on Multiperiod Valuation and the Pricing of Options: A Comment pp. 303-08

Richard C Stapleton and Marti G Subrahmanyam

Notes on Multiperiod Valuation and the Pricing of Options: A Reply pp. 309-12

Sudipto Bhattacharya