Journal of Finance

1946 - 2025

From American Finance Association
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Volume 37, issue 5, 1982

The Arbitrage Pricing Theory: Is It Testable? pp. 1129-40

Jay Shanken

A Theory of Capital Structure Relevance under Imperfect Information pp. 1141-50

Robert Heinkel

Managerial Incentives in a Stock Market Economy pp. 1151-67

Paul J Beck and Thomas S Zorn

Sufficient and Necessary Conditions for Information to Have Social Value in Pure Exchange pp. 1169-81

Nils H Hakansson, J Gregory Kunkel and James Ohlson

Difference Systems in Financial Futures Markets pp. 1183-97

Thomas Eric Kilcollin

Rational Expectations and Risk Premia in Forward Markets: Primary Metals at the London Metals Exchange pp. 1199-1207

David A Hsieh and Nalin Kulatilaka

The Impact of Merger Bids on the Participating Firms' Security Holders pp. 1209-28

K Paul Asquith and E Han Kim

Tests of Two Models for Valuing Call Options on Stocks with Dividends pp. 1229-37

William Sterk

Municipal Bond Pricing and the New York City Fiscal Crisis pp. 1239-46

David S Kidwell and Charles Trzcinka

Optimum Distribution-Free Tests and Further Evidence of Heteroscedasticity in the Market Model pp. 1247-57

Carmelo Giaccotto and Mukhtar M Ali

An Analysis of the Impact of Deposit Rate Ceilings on the Market Values of Thrift Institutions pp. 1259-75

Larry Y Dann and Christopher James

A Disequilibrium Model of Savings and Loan Associations pp. 1277-93

Gary N Smith and William C Brainard

Additive Insurance Premiums: A Note pp. 1295-98

Karl Borch

Stochastic Dominance Rules for Truncated Normal Distributions: A Note pp. 1299-1303

Haim Levy

The Demand for Life Insurance: An Application of the Economics of Uncertainty: A Comment pp. 1305-09

Nicholas Economides

Volume 37, issue 4, 1982

The Pricing of Tax-Exempt Bonds and the Miller Hypothesis pp. 907-23

Charles Trzcinka

Bank Forward Lending in Alternative Funding Environments pp. 925-40

Sudhakar D Deshmukh, Stuart I Greenbaum and George Kanatas

An Analysis of the Impact of Interest Rate Ceilings pp. 941-54

Daniel J Villegas

A Model of the Demand for Investment Banking Advising and Distribution Services for New Issues pp. 955-76

David P Baron

Changes in the Financial Market: Welfare and Price Effects and the Basic Theorems of Value Conservation pp. 977-1004

Nils H Hakansson

Sufficient Conditions for Public Information to Have Social Value in a Production and Exchange Economy pp. 1005-13

J Gregory Kunkel

The Determination of Fair Profits for the Property-Liability Insurance Firm pp. 1015-28

Alan Kraus and Stephen Ross

On Unit Roots and the Empirical Modeling of Exchange Rates pp. 1029-35

Richard Meese and Kenneth Singleton

A Multivariate Linear Regression Test for the Arbitrage Pricing Theory pp. 1037-42

John D Jobson

Option Prices as Predictors of Equilibrium Stock Prices pp. 1043-57

Steven Manaster and Rendleman, Richard J,

The Ex-Dividend Pay Behavior of Stock Prices: A Re-Examination of the Clientele Effect pp. 1059-70

Avner Kalay

Dividends and Capital Asset Prices pp. 1071-86

Ieuan G Morgan

Determinants of Brokerage Commission Rates for Institutional Investors: A Note pp. 1087-93

Robert O Edmister and N Subramanian

Information Production, Market Signalling, and the Theory of Financial Intermediation: A Comment pp. 1095-96

Yuk-Shee Chan

Information Production, Market Signalling, and the Theory of Financial Intermediation: A Reply pp. 1097-99

Tim S Campbell and William A Kracaw

On Diversification Given Asymmetry in Returns: Erratum pp. 1101

Conine, Thomas E, and Maurry Tamarkin

Volume 37, issue 3, 1982

Direct Equity Financing: A Resolution of a Paradox pp. 651-65

Robert Hansen and John M Pinkerton

The Effect of Errors in Variables on Tests for a Risk Premium in Forward Exchange Rates pp. 667-77

Rodney L Jacobs

Risk Assessments and Risk Premiums in the Eurodollar Market pp. 679-91

Gershon Feder and Knud Z Ross

The Distribution of Foreign Exchange Price Changes: Trading Day Effects and Risk Measurement pp. 693-715

James W McFarland, R Richardson Pettit and Sam K Sung

An Exploration of Competitive Signalling Equilibria with "Third Party" Information Production: The Case of Debt Insurance pp. 717-39

Anjan Thakor

Investment Risk, Bankruptcy Risk, and Pension Reform in Canada pp. 741-49

James Pesando

Debt Financing, Corporate Financial Intermediaries and Firm Valuation pp. 751-61

Julian R Franks and John J Pringle

Optimal Sequential Investment When Capital Is Not Readily Reversible pp. 763-82

Carliss Y Baldwin

On the Effectiveness of the Federal Reserve's Margin Requirement pp. 783-95

Dudley G Luckett

Inflation, Taxation, and Interest Rates pp. 797-807

Arthur E Gandolfi

An Analysis of Bank Loan Rate Indexation pp. 809-25

Christopher James

The Effects of Anticipated Inflation on Housing Market Equilibrium pp. 827-42

Sheridan Titman

Variance and Lower Partial Moment Measures of Systematic Risk: Some Analytical and Empirical Results pp. 843-55

Kelly Price, Barbara Price and Timothy J Nantell

Time-Variance Relationship of Security Returns: Implications for the Return-Generating Stochastic Process pp. 857-70

Philip R Perry

Stochastic Dominance: A Note pp. 871-75

Yoram Kroll and Haim Levy

The Relative Price Volatility of Taxable and Non-Taxable Bonds: A Note pp. 877-81

Fred D Arditti and Miles Livingston

Weekend Effects on Stock Returns: A Note pp. 883-89

Josef Lakonishok and Maurice Levi

Volume 37, issue 2, 1982

Debt, Dividend Policy, Taxes, Inflation and Market Valuation pp. 255-73

Franco Modigliani

Optimal Managerial Contracts and Equilibrium Security Prices pp. 275-87

Douglas Diamond and Robert E Verrecchia

Regulation and Corporate Investment Policy pp. 289-300

Michael Brennan and Eduardo S Schwartz

Miller's Equilibrium, Shareholder Leverage Clienteles, and Optimal Capital Structure pp. 301-19

E Han Kim

Regulation and Corporate Investment Policy: Discussion pp. 320-21

S C Myers

Miller's Equilibrium, Shareholder Leverage Clienteles, and Optimal Capital Structure: Discussion pp. 321-23

Taggart, R A,

Single Factor Duration Models in a Discrete General Equilibrium Framework pp. 325-38

G O Bierwag, George G Kaufman and Alden L Toevs

Term Structure Modeling Using Exponential Splines pp. 339-48

Oldrich A Vasicek and H Gifford Fong

Optimal Bond Trading with Personal Tax: Implications for Bond Prices and Estimated Tax Brackets and Yield Curves pp. 349-52

George Constantinides and Ingersoll, Jonathan E,

Single Factor Duration Models in a Discrete General Equilibrium Framework: Discussion pp. 352-54

L Fisher

Term Structure Modeling Using Exponential Splines: Discussion pp. 354-56

J V Jordan

A General Equilibrium Money and Banking Paradigm pp. 357-69

Anthony M Santomero and Jeremy J Siegel

Aspects of Monetary and Banking Theory and Moral Hazard pp. 371-84

Sudipto Bhattacharya

Structural Disequilibrium and the Banking Act of 1980 pp. 385-93

Paul F Smith

A General Equilibrium Money and Banking Paradigm: Discussion pp. 393-95

R E Lombra

Aspects of Monetary and Banking Theory and Moral Hazard: Discussion pp. 395-97

D D Hester

Structural Disequilibrium and the Banking Act of 1980: Discussion pp. 397-98

D E Lindsey

Estimating Security Price Risk Using Duration and Price Elasticity pp. 399-411

Alex O Williams and Phillip E Pfeifer

Estimating Security Price Risk Using Duration and Price Elasticity: Discussion pp. 413

E Schulman

To Pay or Not to Pay Dividend pp. 415-28

Nils H Hakansson

The Effects of Dividends on Common Stock Prices: Tax Effects or Information Effects? pp. 429-43

Robert H Litzenberger and Krishna Ramaswamy

The Ex-Dividend Day Behavior of Stock Returns: Further Evidence on Tax Effects pp. 445-56

Patrick J Hess

Costly Contracting and Optimal Payout Constraints pp. 457-70

Kose John and Avner Kalay

To Pay or Not to Pay Dividend: Discussion pp. 470-72

George Constantinides

The Effects of Dividends on Common Stock Prices: Tax Effects or Information Effects? Discussion pp. 472-74

Lawrence Summers

The Ex-Dividend Day Behavior of Stock Returns: Further Evidence on Tax Effects: Discussion pp. 474-76

M R Gibbons

Costly Contracting and Optimal Payout Constraints: Discussion pp. 476-79

E Han Kim

The Regulation of Financial and Other Futures Markets pp. 481-91

Hendrik Houthakker

Best Execution in Securities Markets: An Application of Signaling and Agency Theory pp. 493-504

Kenneth Garbade and William L Silber

Rule 144 Volume Limitations and the Sale of Restricted Stock in the Over-the-Counter Market pp. 505-17

Osborne, Alfred E,

The Regulation of Financial and Other Futures Markets: Discussion pp. 517-19

F R Edwards

Best Execution in Securities Markets: An Application of Signaling and Agency Theory: Discussion pp. 519-21

S Smidt

Rule 144 Volume Limitations and the Sale of Restricted Stock in the Over-the-Counter Market: Discussion pp. 521-23

A Kalay

The Pricing of Commodity-Linked Bonds pp. 525-39

Eduardo S Schwartz

The Pricing of Commodity-Linked Bonds: Discussion pp. 540-41

J E Ingersoll

Factor-Related and Specific Returns of Common Stocks: Serial Correlation and Market Inefficiency pp. 543-54

Barr Rosenberg and Andrew Rudd

Risk Adjusted Equity Performance Measurement pp. 555-61

John Nagorniak

Valuation Model Bias and the Scale Structure of Dividend Discount Returns pp. 563-73

Richard O Michaud and Paul L Davis

Return Expectations in Active Investment Management: Discussion pp. 573-76

F B Renwick

Projecting the Financial Condition of a Pension Plan Using Simulation Analysis pp. 577-84

Louis Kingsland

Plasm: Pension Liability and Asset Simulation Model pp. 585-94

Howard E Winklevoss

SOFASIM: A Dynamic Insurance Model with Investment Structure, Policy Benefits and Taxes pp. 595-604

Alice B Goldstein and Barbara G Markowitz

Combining Financial and Actuarial Risk: Simulation Analysis: Discussion pp. 604-06

William Sharpe

Combining Financial and Actuarial Risk: Simulation Analysis: Discussion pp. 606-07

Irwin Tepper

Minimax Behavior in Portfolio Selection pp. 609-14

William S Krasker

Stochastic Portfolio Theory and Stock Market Equilibrium pp. 615-24

Robert Fernholz and Brian Shay

Prologue to a Unified Portfolio Theory pp. 625-35

Herbert F Ayres and John Y Barry

Volume 37, issue 1, 1982

Signaling and the Valuation of Unseasoned New Issues pp. 1-10

David H Downes and Robert Heinkel

Tests for Price Effects of New Issues of Seasoned Securities pp. 11-25

Alan C Hess and Peter A Frost

A Direct Test of Roll's Conjecture on the Firm Size Effect pp. 27-35

Marc R Reinganum

Effects of Shifting Saving Patterns on Interest Rates and Economic Activity pp. 37-62

Benjamin M Friedman

Monetary Policy and Short-Term Interest Rates: An Efficient Markets-Rational Expectations Approach pp. 63-72

Frederic Mishkin

The Behavior of the Interest Rate Differential between Tax-Exempt Revenue and General Obligation Bonds: A Test of Risk Preferences and Market Segmentation pp. 73-85

David S Kidwell and Timothy W Koch

Information Diversity and Market Behavior pp. 87-102

Stephen Figlewski

Common Stock Returns and Rating Changes: A Methodological Comparison pp. 103-19

Paul A Griffin and Antonio Sanvicente

The Choice between Equity and Debt: An Empirical Study pp. 121-44

Paul Marsh

Yield Approximations: A Historical Perspective pp. 145-56

Gabriel Hawawini and Ashok Vora

Flattening of Bond Yield Curves for Long Maturities pp. 157-67

Miles B Livingston and Suresh K Jain

Borrower Risk under Alternative Mortgage Instruments pp. 169-83

Bruce G Webb

Expectations Models of Asset Prices: A Survey of Theory pp. 185-217

Stephen LeRoy

The Administrative Costs of Corporate Bankruptcy: A Note pp. 219-26

James S Ang, Jess H Chua and John J McConnell

The Calculation of Implied Variances from the Black-Scholes Model: A Note [The Pricing of Options and Corporate Liabilities] pp. 227-30

Steven Manaster and Gary Koehler

Expectations, Tobin's q, and Investment: A Note [Expectations, Tobin's q, and Industry Investment] pp. 231-36

Henry Chappell and David C Cheng

The Demand for Preferred Stock with Sinking Funds and without: A Note pp. 237-41

Eric H Sorensen and Clark A Hawkins