Journal of Finance

1946 - 2025

From American Finance Association
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Volume 35, issue 5, 1980

An Empirical Investigation of the Arbitrage Pricing Theory pp. 1073-1103

Richard Roll and Stephen Ross

Heterogeneous Expectations, Restrictions on Short Sales, and Equilibrium Asset Prices pp. 1105-13

Robert Jarrow

The Investment Banking Contract for New Issues under Asymmetric Information: Delegation and the Incentive Problem pp. 1115-38

David P Baron and Bengt Holmstrom

Deposit Rate-Setting, Risk Aversion, and the Theory of Depository Financial Intermediaries pp. 1139-54

Sealey, C W,

The Demand for Life Insurance: An Application of the Economics of Uncertainty pp. 1155-72

Ritchie A Campbell

Asset Accumulation in Early Married Life pp. 1173-88

Robert Ferber and Lucy Chao Lee

A Catastrophe Model of Bank Failure pp. 1189-1207

Thomas S Y Ho and Anthony Saunders

On the Valuation of Federal Loan Guarantees to Corporations pp. 1209-21

Howard B Sosin

A Rationale for Debt Maturity Structure and Call Provisions in the Agency Theoretic Framework pp. 1223-34

Amir Barnea, Robert A Haugen and Lemma W Senbet

Regulation of Bank Capital and Portfolio Risk pp. 1235-44

Michael Koehn and Anthony M Santomero

Debt, Taxes and Leasing-A Note pp. 1245-50

R A Brealey and C M Young

A Note on Ambiguity in Portfolio Performance Measures pp. 1251-56

David Peterson and Michael L Rice

The Financial Consequences of Corporate Growth pp. 1257-65

Benton E Gup

Error Rates in CRSP and COMPUSTAT: A Second Look pp. 1267-71

Robert Bennin

The Hedging Performance of the New Futures Markets: Comment pp. 1273-79

Charles T Franckle

Volume 35, issue 4, 1980

Information Production, Market Signalling, and the Theory of Financial Intermediation pp. 863-82

Tim S Campbell and William A Kracaw

Stationarity of Market Risk: Random Coefficients Tests for Individual Stocks pp. 883-96

Shyam Sunder

Co-Skewness and Capital Asset Pricing pp. 897-913

Irwin Friend and Randolph Westerfield

On the Direction of Preference for Moments of Higher Order Than the Variance pp. 915-19

Robert C Scott and Philip A Horvath

Stock Market Return Expectations: Some General Properties pp. 921-31

Josef Lakonishok

Predictive Ability and Descriptive Validity of Earnings Forecasting Models pp. 933-49

Benoit Deschamps and Dileep R Mehta

Affiliated Bank Performance and the Simultaneity of Financial Decision-Making pp. 951-57

Duane B Graddy and Kyle, Reuben,

A Microeconomic Model of Federal Home Loan Mortgage Corporation Activity pp. 959-71

Kenneth T Rosen and David Bloom

Relationships between the Two Sides of the Balance Sheet: A Canonical Correlation Analysis pp. 973-80

John Stowe, Collin J Watson and Terry D Robertson

The Cost of Capital and U.S. Capital Investment: A Test of Alternative Concepts pp. 981-99

J Walter Elliott

An Analysis of Risk and Return Characteristics of Corporate Bankruptcy Using Capital Market Data pp. 1001-16

Joseph Aharony, Charles P Jones and Itzhak Swary

Ratio Stability and Corporate Failure pp. 1017-26

Ismael G Dambolena and Sarkis J Khoury

Nontransferable Interest-Bearing National Debt pp. 1027-31

John Bryant

Corporate Debt and Corporate Taxes: An Extension pp. 1033-37

Conine, Thomas E,

Back on the Track with the Efficient Markets Hypothesis pp. 1039-43

Robert L Losey and Talbott, John C,

On Forecasting Long-Term Interest Rates: Is the Success of the No-Change Prediction Surprising? pp. 1045-47

James Pesando

Econometric Models and Current Interest Rates: How Well Do They Predict Future Rates-A Reply pp. 1049-50

J Walter Elliott and J R Baier

Future Investment Opportunities and the Value of the Call Provision on a Bond: Comment pp. 1051-54

Varouj Aivazian and Jeffrey L Callen

Future Investment Opportunities and the Value of the Call Provision on a Bond: Reply pp. 1055-56

Zvi Bodie and Taggart, Robert A,

Volume 35, issue 3, 1980

Capital Asset Prices and the Temporal Resolution of Uncertainty pp. 627-43

Larry Epstein and Stuart M Turnbull

Taxes and Corporate Capital Structure in an Incomplete Market pp. 645-59

Taggart, Robert A,

The Constant Elasticity of Variance Model and Its Implications for Option Pricing pp. 661-73

Stan Beckers

A Dynamic Equilibrium for the Ross Arbitrage Model pp. 675-84

James Ohlson and Mark B Garman

General Risk Aversion and Attitude towards Risk pp. 685-91

Yakov Amihud

Valuation of Underwriting Agreements for UK Rights Issues pp. 693-716

Paul Marsh

The Demand for Tax-Exempt Securities by Financial Institutions pp. 717-27

Patric Hendershott and Timothy W Koch

A Theory of Common Stock Returns over Trading and Non-Trading Periods pp. 729-51

Oldfield, George S, and Richard J Rogalski

An Analysis of the Portfolio Behavior of Black-Owned Commercial Banks pp. 753-68

Timothy Bates and William Bradford

Economies of Scale in Credit Unions: Further Evidence pp. 769-77

John Wolken and Frank J Navratil

The Demand for Money by Firms: The Stability and Other Issues Reexamined pp. 779-85

Meyer Ungar and Benzion Zilberfarb

Money Demand and Foreign Exchange Risk: The German Case, 1972-1976 pp. 787-94

M A Akhtar and Bluford H Putnam

Stochastic Demand, Output and the Cost of Capital: A Clarification pp. 795-98

Laurence D Booth

The Rate of Return on New Investment in the UK pp. 799-800

S D Hodges and R A Brealey

A Comment on "Nonmember Banks and Empirical Measures of the Variability of Reserves and Money: A Theoretical Appraisal" pp. 801-05

Dennis R Starleaf

Nonmember Banks and Monetary Control: Reply pp. 807

Kenneth J Kopecky

Volume 35, issue 2, 1980

Market Incompleteness and Divergences between Forward and Future Interest Rates pp. 221-34

Edward Kane

On the Dynamic Behavior of Prices in Disequilibrium pp. 235-48

Avraham Beja and M Barry Goldman

Implications of Microstructure Theory for Empirical Research on Stock Price Behavior pp. 249-57

Cohen, Kalman J, et al

On Dealer Markets under Competition pp. 259-67

Thomas Ho and Hans Stoll

Discussion [On Dealer Markets under Competition] pp. 267-68

James C Van Horne

The Relative Efficiency of Various Portfolios: Some Further Evidence pp. 269-81

Marshall E Blume

Discussion [The Relative Efficiency of Various Portfolios: Some Further Evidence] pp. 281-83

Rolf W Banz

Tests of the Black-Scholes and Cox Call Option Valuation Models pp. 285-301

James D MacBeth and Larry J Merville

Discussion [Tests of the Black-Scholes and Cox Call Option Valuation Models] pp. 301-03

Steven Manaster

Stock Repurchase by Tender Offer: An Analysis of the Causes of Common Stock Price Changes pp. 305-19

Ronald Masulis

Discussion [Stock Repurchase by Tender Offer: An Analysis of the Causes of Common Stock Price Changes] pp. 319-21

David Downes

Disclosure Laws and Takeover Bids pp. 323-34

Sanford Grossman and Oliver Hart

Distinguishing Beliefs and Preferences in Equilibrium Prices pp. 335-44

Alan Kraus and Gordon A Sick

Discussion [Distinguishing Beliefs and Preferences in Equilibrium Prices] pp. 344-46

Beth Allen

The Effect of Fuel Adjustment Clauses on the Systematic Risk and Market Values of Electric Utilities pp. 347-58

Roger G Clarke

Admissible Rate Bases, Fair Rates of Return and the Structure of Regulation pp. 359-68

Bruce C Greenwald

On the CAP M Approach to the Estimation of a Public Utility's Cost of Equity Capital pp. 369-83

Robert Litzenberger, Krishna Ramaswamy and Howard Sosin

Financial Issues for Regulated Firms: Discussion pp. 383-85

Richard S Bower

Financial Issues for Regulated Firms: Discussion pp. 385-87

William Marshall

An Analysis of Variable Rate Loan Contracts pp. 389-403

John C Cox, Ingersoll, Jonathan E, and Stephen Ross

Conditional Predictions of Bond Prices and Returns pp. 405-17

Michael Brennan and Eduardo S Schwartz

Discussion [Conditional Predictions of Bond Prices and Returns] pp. 417-19

Stephen M Schaefer

Equilibrium Term Structure Models: Test Methodology pp. 421-35

Terry Marsh

Discussion [Equilibrium Term Structure Models: Test Methodology] pp. 435-38

Douglas T Breeden

Optimal Liquidation of Assets in the Presence of Personal Taxes: Implications for Asset Pricing pp. 439-49

George Constantinides and Myron Scholes

Discussion [Optimal Liquidation of Assets in the Presence of Personal Taxes: Implications for Asset Pricing] pp. 450-52

Scott F Richard

Leverage and Dividend Irrelevancy under Corporate and Personal Taxation pp. 453-64

Harry DeAngelo and Ronald Masulis

Discussion [Leverage and Dividend Irrelevancy under Corporate and Personal Taxation] pp. 465-67

John J McConnell

Dividends, Short Selling Restrictions, Tax-Induced Investor Clienteles and Market Equilibrium pp. 469-82

Robert H Litzenberger and Krishna Ramaswamy

Discussion [Dividends, Short Selling Restrictions, Tax-Induced Investor Clienteles and Market Equilibrium] pp. 482-85

Patrick J Hess

Hedging and Joint Production: Theory and Illustrations pp. 487-98

Ronald W Anderson and Jean-Pierre Danthine

Discussion [Hedging and Joint Production: Theory and Illustrations] pp. 498-501

Gordon Rausser

Consumption Risk in Futures Markets pp. 503-20

Douglas T Breeden

Externalities and Financial Reporting pp. 521-33

George Foster

Discussion [Externalities and Financial Reporting] pp. 534-35

Stanley Baiman

Toward a Theory of Financial Accounting pp. 537-47

James Ohlson and A Gregory Buckman

Discussion [Toward a Theory of Financial Accounting] pp. 547-51

Mark A Wolfson

Corporate Capital Investment, Accounting Methods and Earnings: A Test of the Control Hypothesis pp. 553-65

Shyam Sunder

Discussion [Corporate Capital Investment, Accounting Methods and Earnings: A Test of the Control Hypothesis] pp. 565-68

Jerold Zimmerman

Towards Indices of Real Estate Value and Return pp. 569-80

James W Hoag

Who Should Buy Portfolio Insurance? pp. 581-94

Hayne Leland

Discussion [Who Should Buy Portfolio Insurance?] pp. 595-96

Eduardo S Schwartz

The "Market Model" in Investment Management pp. 597-607

Andrew Rudd and Barr Rosenberg

Discussion [The "Market Model" in Investment Management] pp. 607-09

Walt McKibben

Volume 35, issue 1, 1980

Qtrly Dividend and Earnings Announcements and Stockholders' Returns: An Empirical Analysis pp. 1-12

Joseph Aharony and Itzhak Swary

On the Predictability of Corporate Earnings Per Share Behavior pp. 13-21

Peter D Chant

Yields on Privately Placed Corporate Bonds pp. 23-29

Burton Zwick

Retractable and Extendible Bonds: The Canadian Experience pp. 31-47

A L Ananthanarayanan and Eduardo S Schwartz

Biased Estimators and Unstable Betas pp. 49-55

Elton Scott and Stewart Brown

The Term Structure of Inflationary Expectations and Market Efficiency pp. 57-70

Thomas Cargill and Robert A Meyer

A Multivariate Model of the Term Structure pp. 71-97

Terence C Langetieg

Taxes, Failure Costs, and Optimal Industry Capital Structure: An Empirical Test pp. 99-117

David Flath and Charles R Knoeber

Taxes and the Optimal Capital Structure of the Firm pp. 119-27

Meir I Schneller

Deposit Ceilings and the Efficiency of Financial Intermediation pp. 129-36

Lewis J Spellman

Establishing On-Site Bank Examination Priorities: An Early-Warning System Using Accounting and Market Information pp. 137-50

Richard H Pettway and Sinkey, Joseph F,

The Geometric Mean and Stochastic Dominance pp. 151-58

William H Jean

Empirical Studies in Portfolio Performance Using Higher Degrees of Stochastic Dominance pp. 159-71

Hassan Tehranian

Speculation and the Forward Foreign Exchange Rate: A Note pp. 173-76

Philippe Callier

A Note on Inflation, Taxation and Investment Returns pp. 177-80

Stephen M Cross

Further Evidence on the Value of A Priori Information pp. 181-89

Gary Smith

Bond Refunding Reconsidered: Comment pp. 191-95

Miles Livingston

Bond Refunding Recondsidered: Reply pp. 197-200

Aharon R Ofer and Robert A Taggart

Horse Racing: Testing the Efficient Markets Model: Comment pp. 201-02

Olav Vannebo