Journal of Finance

1946 - 2025

From American Finance Association
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Volume 74, issue 6, 2019

Brokers and Order Flow Leakage: Evidence from Fire Sales pp. 2707-2749

Andrea Barbon, Marco Di Maggio, Francesco Franzoni and Augustin Landier

Information Revelation in Decentralized Markets pp. 2751-2787

Björn Hagströmer and Albert Menkveld

Do Investors Value Sustainability? A Natural Experiment Examining Ranking and Fund Flows pp. 2789-2837

Samuel M. Hartzmark and Abigail B. Sussman

Diagnostic Expectations and Stock Returns pp. 2839-2874

Pedro Bordalo, Nicola Gennaioli, Rafael La Porta and Andrei Shleifer

Funding Liquidity without Banks: Evidence from a Shock to the Cost of Very Short‐Term Debt pp. 2875-2914

Felipe Restrepo, Lina Cardona‐sosa and Philip E. Strahan

Women's Liberation as a Financial Innovation pp. 2915-2956

Moshe Hazan, David Weiss and Hosny Zoabi

YOLO: Mortality Beliefs and Household Finance Puzzles pp. 2957-2996

Rawley Z. Heimer, Kristian Ove R. Myrseth and Raphael Schoenle

Thinking about Prices versus Thinking about Returns in Financial Markets pp. 2997-3039

Markus Glaser, Zwetelina Iliewa and Martin Weber

Nonfinancial Firms as Cross‐Market Arbitrageurs pp. 3041-3087

Yueran Ma

Measuring Institutional Investors’ Skill at Making Private Equity Investments pp. 3089-3134

Daniel R. Cavagnaro, Berk A. Sensoy, Yingdi Wang and Michael Weisbach

Where Is the Risk in Value? Evidence from a Market‐to‐Book Decomposition pp. 3135-3186

Andrey Golubov and Theodosia Konstantinidi

A Dynamic Model of Characteristic‐Based Return Predictability pp. 3187-3216

Aydoğan Alti and Sheridan Titman

Over‐the‐Counter Market Frictions and Yield Spread Changes pp. 3217-3257

Nils Friewald and Florian Nagler

AMERICAN FINANCE ASSOCIATION pp. 3390-3390

John Graham

Volume 74, issue 5, 2019

The Dividend Disconnect pp. 2153-2199

Samuel M. Hartzmark and David H. Solomon

Stock Returns over the FOMC Cycle pp. 2201-2248

Anna Cieslak, Adair Morse and Annette Vissing‐jorgensen

Foreclosure Contagion and the Neighborhood Spillover Effects of Mortgage Defaults pp. 2249-2301

Arpit Gupta

Limited Investment Capital and Credit Spreads pp. 2303-2347

Emil N. Siriwardane

How Do Investment Ideas Spread through Social Interaction? Evidence from a Ponzi Scheme pp. 2349-2389

Ville Rantala

The Globalization Risk Premium pp. 2391-2439

Jean‐noël Barrot, Erik Loualiche and Julien Sauvagnat

Proxy Advisory Firms: The Economics of Selling Information to Voters pp. 2441-2490

Andrey Malenko and Nadya Malenko

Personal Experiences and Expectations about Aggregate Outcomes pp. 2491-2542

Theresa Kuchler and Basit Zafar

Do Portfolio Manager Contracts Contract Portfolio Management? pp. 2543-2577

Jung Hoon Lee, Charles Trzcinka and Shyam Venkatesan

The Best of Both Worlds: Accessing Emerging Economies via Developed Markets pp. 2579-2617

Joon Woo Bae, Redouane Elkamhi and Mikhail Simutin

Ratings Quality and Borrowing Choice pp. 2619-2665

Dominique C. Badoer, Cem Demiroglu and Christopher James

Reassessing False Discoveries in Mutual Fund Performance: Skill, Luck, or Lack of Power? pp. 2667-2688

Angie Andrikogiannopoulou and Filippos Papakonstantinou

A Note on “Risk Reduction in Large Portfolios: Why Imposing the Wrong Constraints Helps” pp. 2689-2696

Ravi Jagannathan, Tongshu Ma and Jiaqi Zhang

Volume 74, issue 4, 2019

Presidential Address: Collateral and Commitment pp. 1587-1619

Peter DeMarzo

Price Discovery without Trading: Evidence from Limit Orders pp. 1621-1658

Jonathan Brogaard, Terrence Hendershott and Ryan Riordan

Real Anomalies pp. 1659-1706

Jules van Binsbergen and Christian Opp

Capital Share Dynamics When Firms Insure Workers pp. 1707-1751

Barney Hartman‐glaser, Hanno Lustig and Mindy Xiaolan

Capital Share Risk in U.S. Asset Pricing pp. 1753-1792

Martin Lettau, Sydney C. Ludvigson and Sai Ma

Labor‐Technology Substitution: Implications for Asset Pricing pp. 1793-1839

Miao Ben Zhang

Time‐Varying Asset Volatility and the Credit Spread Puzzle pp. 1841-1885

Du Du, Redouane Elkamhi and Jan Ericsson

What Is the Expected Return on a Stock? pp. 1887-1929

Ian Martin and Christian Wagner

Nonlinearity and Flight‐to‐Safety in the Risk‐Return Trade‐Off for Stocks and Bonds pp. 1931-1973

Tobias Adrian, Richard Crump and Erik Vogt

Costly Information Acquisition, Social Networks, and Asset Prices: Experimental Evidence pp. 1975-2010

Edward Halim, Yohanes Riyanto and Nilanjan Roy

CEO Horizon, Optimal Pay Duration, and the Escalation of Short‐Termism pp. 2011-2053

Ivan Marinovic and Felipe Varas

Income Hedging, Dynamic Style Preferences, and Return Predictability pp. 2055-2106

Jawad M. Addoum, Stefanos Delikouras, George M. Korniotis and Alok Kumar

Corrigendum for Dividend Dynamics, Learning, and Expected Stock Index Returns pp. 2107-2116

Ravi Jagannathan, Binying Liu and Jiaqi Zhang

Report of the Editor of The Journal of Finance for the Year 2018 pp. 2117-2132

Stefan Nagel

Volume 74, issue 3, 2019

High‐Frequency Trading around Large Institutional Orders pp. 1091-1137

Vincent van Kervel and Albert Menkveld

Liquidity Risk and the Dynamics of Arbitrage Capital pp. 1139-1173

Péter Kondor and Dimitri Vayanos

Employee Stock Option Exercise and Firm Cost pp. 1175-1216

Jennifer N. Carpenter, Richard Stanton and Nancy Wallace

Brokers versus Retail Investors: Conflicting Interests and Dominated Products pp. 1217-1260

Mark Egan

Venture Capital and Capital Allocation pp. 1261-1314

Giorgia Piacentino

Trade Network Centrality and Currency Risk Premia pp. 1315-1361

Robert Richmond

Optimal Contracting, Corporate Finance, and Valuation with Inalienable Human Capital pp. 1363-1429

Patrick Bolton, Neng Wang and Jinqiang Yang

Leverage and the Cross‐Section of Equity Returns pp. 1431-1471

Hitesh Doshi, Kris Jacobs, Praveen Kumar and Ramon Rabinovitch

Household Debt Overhang and Unemployment pp. 1473-1502

Jason Roderick Donaldson, Giorgia Piacentino and Anjan Thakor

Financial Markets, the Real Economy, and Self‐Fulfilling Uncertainties pp. 1503-1557

Jess Benhabib, Xuewen Liu and Pengfei Wang

On Equilibrium When Contingent Capital Has a Market Trigger: A Correction to Sundaresan and Wang Journal of Finance (2015) pp. 1559-1576

George Pennacchi and Alexei Tchistyi

Volume 74, issue 2, 2019

Political Connections and Allocative Distortions pp. 543-586

David Schoenherr

Portfolio Manager Compensation in the U.S. Mutual Fund Industry pp. 587-638

Linlin Ma, Yuehua Tang and Juan‐pedro Gómez

Sticky Expectations and the Profitability Anomaly pp. 639-674

Jean‐philippe Bouchaud, Philipp Krüger, Augustin Landier and David Thesmar

An Explanation of Negative Swap Spreads: Demand for Duration from Underfunded Pension Plans pp. 675-710

Sven Klingler and Suresh Sundaresan

Stealing Deposits: Deposit Insurance, Risk‐Taking, and the Removal of Market Discipline in Early 20th‐Century Banks pp. 711-754

Charles W. Calomiris and Matthew Jaremski

Who Finances Durable Goods and Why It Matters: Captive Finance and the Coase Conjecture pp. 755-793

Justin Murfin and Ryan Pratt

The Dynamic Properties of Financial‐Market Equilibrium with Trading Fees pp. 795-844

Adrian Buss and Bernard Dumas

Equity Misvaluation and Default Options pp. 845-898

Assaf Eisdorfer, Amit Goyal and Alexei Zhdanov

Stockholders’ Unrealized Returns and the Market Reaction to Financial Disclosures pp. 899-942

Eric Weisbrod

Robust Measures of Earnings Surprises pp. 943-983

Chin‐han Chiang, Wei Dai, Jianqing Fan, Harrison Hong and Jun Tu

Sentiment Metrics and Investor Demand pp. 985-1024

DeVAULT Luke, Richard Sias and Laura Starks

Cautious Risk Takers: Investor Preferences and Demand for Active Management pp. 1025-1075

Valery Polkovnichenko, Kelsey D. Wei and Feng Zhao

Volume 74, issue 1, 2019

Asset Allocation in Bankruptcy pp. 5-53

Shai Bernstein, Emanuele Colonnelli and Benjamin Iverson

The International Bank Lending Channel of Monetary Policy Rates and QE: Credit Supply, Reach‐for‐Yield, and Real Effects pp. 55-90

Bernardo Morais, Jose-Luis Peydro, Jessica Roldán‐peña and Claudia Ruiz‐ortega

Dealer Networks pp. 91-144

Dan Li and Norman Schürhoff

Funding Value Adjustments pp. 145-192

Leif Andersen, Darrell Duffie and Yang Song

How Crashes Develop: Intradaily Volatility and Crash Evolution pp. 193-238

David S. Bates

Basis‐Momentum pp. 239-279

Martijn Boons and Melissa Porras Prado

Investment and the Cross‐Section of Equity Returns pp. 281-321

Gian Luca Clementi and Berardino Palazzo

(Almost) Model‐Free Recovery pp. 323-370

Paul Schneider and Fabio Trojani

Financial Markets Where Traders Neglect the Informational Content of Prices pp. 371-399

Erik Eyster, Matthew Rabin and Dimitri Vayanos

Dividend Dynamics, Learning, and Expected Stock Index Returns pp. 401-448

Ravi Jagannathan and Binying Liu

Sparse Signals in the Cross‐Section of Returns pp. 449-492

Alex Chinco, Adam D. Clark‐joseph and Mao Ye

A Test of the Modigliani‐Miller Invariance Theorem and Arbitrage in Experimental Asset Markets pp. 493-529

Gary Charness and Tibor Neugebauer

AMERICAN FINANCE ASSOCIATION pp. 535-535

Kenneth Singleton