Journal of Finance

1946 - 2025

From American Finance Association
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Volume 34, issue 5, 1979

Two-State Option Pricing pp. 1093-1110

Rendleman, Richard J, and Brit J Bartter

Path Dependent Options: "Buy at the Low, Sell at the High" pp. 1111-27

M Barry Goldman, Howard B Sosin and Mary Ann Gatto

Currency Options Bonds, Puts and Calls on Spot Exchange and the Hedging of Contingent Foreign Earnings pp. 1129-39

George M Feiger and Bertrand Jacquillat

Put-Call Parity and Market Efficiency pp. 1141-55

Robert C Klemkosky and Bruce Resnick

A Proposal for Indexes for Traded Call Options pp. 1157-72

Dan Galai

An Empirical Examination of the Black-Scholes Call Option Pricing Model pp. 1173-86

James D MacBeth and Larry J Merville

The Efficacy of Trading Suspensions: A Regulatory Action Designed to Prevent the Exploitation of Monopoly Information pp. 1187-1200

Lawrence Kryzanowski

Heteroscedasticity, R2 and Thin Trading on the Toronto Stock Exchange pp. 1201-10

David J Fowler, C Harvey Rorke and Vijay M Jog

Utility Bond Rates and Tax Normalization pp. 1211-20

Ernst R Berndt, Karen Chant Sharp and G Campbell Watkins

Mean-Variance Efficient Sets and Expected Utility pp. 1221-29

Jack Meyer

Evaluating and Comparing Projects: Simple Detection of False Alarms pp. 1231-42

John W Pratt and Hammond, John S,

Mutual Fund Systematic Risk for Bull and Bear Markets: An Empirical Examination pp. 1243-50

Frank Fabozzi and Jack C Francis

A Note on Capital Budgeting Techniques and the Reinvestment Rate pp. 1251-54

Richard L Meyer

A Note on the Impact of FHLB Advances on the Cost and Availability of Funds at S&Ls pp. 1255-61

John A Halloran

A Note on Information in the Loan Evaluation Process pp. 1263-69

Bryan Stanhouse and Larry Sherman

Time-Variance Relationship: Evidence on Correlation in Common Stock Returns: Comment pp. 1271-72

Meir I Schneller

On Time-Variance Analysis: Reply pp. 1273-75

Robert A Schwartz and David K Whitcomb

Volume 34, issue 4, 1979

Tax Differentials and Callable Bonds pp. 825-38

W M Boyce and A J Kalotay

Equity Rights Issues and the Efficiency of the UK Stock Market pp. 839-62

Paul Marsh

The Impact of Underwriting Method and Bidder Competition upon Corporate Bond Interest Cost pp. 863-70

Eric H Sorensen

The Search for Information by Underwriters and Its Impact on Municipal Interest Cost pp. 871-85

Earl Benson

Sinking Funds and the Cost of Corporate Debt pp. 887-93

Edward A Dyl and Michael D Joehnk

The Efficiency of the Treasury Bill Futures Market pp. 895-914

Rendleman, Richard J, and Christopher E Carabini

The Sensitivity of the Efficient Market Hypothesis to Alternative Specifications of the Market Model pp. 915-29

Menachem Brenner

Debt Capacity pp. 931-40

Stuart M Turnbull

Inflationary Effects in the Capital Investment Process: An Empirical Examination pp. 941-50

Moon K Kim

Corporate Debt and Corporate Taxes pp. 951-56

Bierman, Harold, and Oldfield, George S,

A Proof of the Existence of "Consensus Beliefs." pp. 957-63

Robert E Verrecchia

Interest Rate Expectations versus Forward Rates: Evidence from an Expectations Survey pp. 965-73

Benjamin M Friedman

Econometric Models and Current Interest Rates: How Well Do They Predict Future Rates? pp. 975-86

J Walter Elliott and Jerome R Baier

Changes in Federal Reserve Membership: A Risk-Return Profitability Analysis pp. 987-97

Louis J D'Antonio and Ronald W Melicher

Graduated Reserve Requirements and Monetary Control pp. 999-1012

Dennis E Farley and Thomas D Simpson

Underutilization of Forward Markets or Rational Behavior? pp. 1013-17

Maurice Levi

Interest Rates as Predictors of Inflation in a High-Inflation Semi-Industrialized Economy pp. 1019-25

Leonardo Leiderman

Risk and Return pp. 1027-30

Gehr, Adam K,

The Stable Paretian Distribution, Subordinated Stochastic Processes, and Asymptotic Lognormality: An Empirical Investigation pp. 1031-39

David E Upton and Donald S Shannon

Simple Rules for Optimal Portfolio Selection in Stable Paretian Markets pp. 1041-47

Vijay S Bawa, Edwin J Elton and Martin J Gruber

Discount Points and Housing Prices: Comment pp. 1049-54

Peter F Colwell, Karl L Guntermann and C F Sirmans

Discount Points and Housing Prices: A Reply pp. 1055-60

William B Brueggeman and Robert H Zerbst

Some Observations on Risk-Adjusted Discount Rates: A Comment pp. 1061-63

Stephen E Celec and Richard H Pettway

Reply to Pettway and Celec [Some Observations on Risk-Adjusted Discount Rates] pp. 1065-66

Wilbur G Lewellen

Volume 34, issue 3, 1979

Structural Organization of Secondary Markets: Clearing Frequency, Dealer Activity and Liquidity Risk pp. 577-93

Kenneth Garbade and William L Silber

Market Prices vs. Equilibrium Prices: Returns' Variance, Serial Correlation, and the Role of the Specialist pp. 595-607

M Barry Goldman and Avraham Beja

Endogenous Marginal Income Tax Rates, Investor Behavior and the Capital Asset Pricing Model pp. 609-16

Ronald F Singer

The Theoretical Relationship between Systematic Risk and Financial (Accounting) Variables pp. 617-30

Robert G Bowman

Determinants of Financial Structure: A New Methodological Approach pp. 631-44

Michael G Ferri and Wesley H Jones

Testing for a Flat Spectrum on Efficient Market Price Data pp. 645-58

Peter D Praetz

Market Responses to Federal Reserve Changes in the Initial Margin Requirement pp. 659-74

R Corwin Grube, O Maurice Joy and Don B Panton

A Bayesian Analysis of Project Selection and of Post Audit Evaluations pp. 675-88

Seymour Smidt

Credit Rationing in the Commercial Loan Market: Estimates of a Structural Model under Conditions of Disequilibrium pp. 689-702

Sealey, C W,

The Ratio of Currency to Demand Deposits in the United States pp. 703-15

Gillian Garcia and Simon Pak

Standardized Unexpected Earnings--1971-77 pp. 717-24

Henry A Latane and Charles P Jones

Comparative Costs of Competitive and Negotiated Underwritings in the State and Local Bond Market pp. 725-31

Michael D Joehnk and David S Kidwell

Interest Rates and Inflationary Expectations: Tests for Structural Change, 1952-1976 pp. 733-41

Alexander B Holmes and Myron L Kwast

The Relationship between Stock Market Returns and Rates of Inflation pp. 743-49

Michael Firth

The Risk Structure of Interest Rates and the Penn-Central Crisis pp. 751-60

David S Kidwell and Charles Trzcinka

An Analysis of the Forecast Error Impact of Alternative Beta Adjustment Techniques and Risk Classes pp. 761-76

Eubank, Arthur A, and J Kenton Zumwalt

Aspects of the Production of Significant Financial Research pp. 777-86

Louis H Ederington

Foreign Exchange Market Efficiency under Flexible Exchange Rates: Comment pp. 787-89

Marc A Miles and D Sykes Wilford

Foreign Exchange Market Efficiency under Flexible Exchange Rates: Reply pp. 791-93

John Burt, Fred R Kaen and G Geoffrey Booth

The Effect of Bond Refunding on Shareholder Wealth: Comment pp. 795-99

Gene Laber

The Effect of Bond Refunding on Shareholder Wealth: Comment pp. 801-04

Miles Livingston

The Effect of Bond Refunding on Shareholder Wealth: Reply pp. 805-09

Jess B Yawitz and James A Anderson

Volume 34, issue 2, 1979

The Capital Formation Problem in the United States pp. 291-306

Burton G Malkiel

The Tax Effects of Investment in Marketable Securities on Firm Valuation pp. 307-24

Scott, James H,

General Equilibrium with Financial Markets: Existence, Uniqueness, and Implications for Corporate Finance pp. 325-39

Simon Benninga

Financial Markets and Business Finance: Discussion pp. 339-42

Rex Thompson

Financial Markets and Business Finance: Discussion pp. 342-45

Sudipto Bhattacharya

Financial Theory and Taxation in an Inflationary World: Some Public Policy Issues pp. 347-69

Robert S Hamada

Theories of Corporate Debt Policy: A Synthesis pp. 371-84

Andrew H Chen and E Han Kim

State-of-the-Art Studies in Financial Theory: Discussion pp. 385-86

Long, John B,

State-of-the-Art Studies in Financial Theory: Discussion pp. 386-87

Eduardo S Schwartz

An Immunization Strategy Is a Minimax Strategy pp. 389-99

G O Bierwag and Chulsoon Khang

On Contingent Claims That Insure Ex-post Optimal Stock Market Timing pp. 401-13

M Barry Goldman, Howard B Sosin and Lawrence A Shepp

Capital Market Theory: Discussion pp. 413-14

Simon Benninga

Foreign Exchange Rate Forecasting Techniques: Implications for Business and Policy pp. 415-27

Stephen H Goodman

Nonparametric Estimates of LDC Repayment Prospects pp. 429-36

Charles Fisk and Frank Rimlinger

New Techniques for Assessing International Risk: Discussion pp. 436-38

Robert Z Aliber

Macroinformation and the Variability of Stock Market Prices pp. 439-50

Castanias, Richard P,

Specification Tests for Portfolio Regression Parameter Stationarity and the Implications for Empirical Research pp. 451-65

Stanley J Kon and W Patrick Lau

Empirical Research on Capital Markets: Discussion pp. 465-69

Bruce D Fielitz

Empirical Research on Capital Markets: Discussion pp. 470-72

R Richardson Pettit

Burnsian Monetary Policy: Eight Years of Progress? pp. 473-84

William Poole

The Political Economy of Arthur Burns pp. 485-96

James L Pierce

Monetary Policy: Assessing the Burns Years: Discussion pp. 496-98

Jerry L Jordan

Monetary Policy: Assessing the Burns Years: Discussion pp. 498-501

Raymond E Lombra

Monetary Policy: Assessing the Burns Years: Discussion pp. 501-04

Thomas Mayer

Anti-Diversification or Optimal Programmes for Infrequently Revised Portfolios pp. 505-16

M Barry Goldman

Dynamics of Borrower-Lender Interaction: Partitioning Final Payoff in Venture Capital Finance pp. 517-29

Ian A Cooper and Willard T Carleton

Multiperiod Financial Models: Discussion pp. 529-31

Stephen A Buser

Multiperiod Financial Models: Discussion pp. 531-33

Jonathan Ingersoll

"q" and the Theory of Investment pp. 535-47

Gary Fromm and John Ciccolo

Expectations, Tobin's q, and Industry Investment pp. 549-61

Burton G Malkiel, George von Furstenberg and Harry S Watson

The Channels of Influence of Tobin-Brainards "q" on Investment: Discussion pp. 561-64

Walter J Reinhart

Volume 34, issue 1, 1979

The Simultaneity of Bank Decision-making, Market Structure, and Bank Performance pp. 1-18

Duane B Graddy and Kyle, Reuben,

Portfolio Diversification at Commercial Banks pp. 19-34

Edward Kane and Stephen A Buser

Fisher, Phillips, Friedman and the Measured Impact of Inflation on Interest pp. 35-52

Maurice Levi and John Makin

The Pricing of Contingent Claims in Discrete Time Models pp. 53-68

Michael Brennan

The Pricing of Commodity Futures Contracts, Nominal Bonds and Other Risky Assets under Commodity Price Uncertainty pp. 69-83

Frederick L A Grauer and Robert H Litzenberger

Investment, Market Structure, and the Cost of Capital pp. 85-92

Varouj Aivazian and Jeffrey L Callen

Real and Nominal Efficient Sets pp. 93-102

Steven Manaster

The Relationship between Equity Indices on World Exchanges pp. 103-14

Jimmy E Hilliard

Liquidity Changes Following Stock Splits pp. 115-41

Thomas E Copeland

Market Timing Strategies in Convertible Debt Financing pp. 143-55

Gordon Alexander, Roger D Stover and David B Kuhnau

The Hedging Performance of the New Futures Markets pp. 157-70

Louis H Ederington

Marketplace Fragmentation, Competition, and the Efficiency of the Stock Exchange pp. 171-87

James L Hamilton

Bond Taxation and the Shape of the Yield-to-Maturity Curve pp. 189-96

Miles B Livingston

Some Additional Evidence on Survival Biases pp. 197-206

Ray Ball and Ross Watts

Investment Policy, Optimality, and the Mean-Variance Model: Review Article pp. 207-32

David P Baron

Portfolio Selection in a "Winner-Take-All" Environment pp. 233-36

Paul D Berger and Zvi Bodie

The Recognition Lag of the Federal Advisory Council pp. 237-40

Selby, Edward B,

A Note on the Issuance of Long-Term Pure Discount Bonds pp. 241-46

Miles Livingston

Bankruptcy, Secured Debt, and Optimal Capital Structure: Comment pp. 247-51

Smith, Clifford W, and Jerold B Warner

Bankruptcy, Secured Debt, and Optimal Capital Structure: Reply pp. 253-60

Scott, James H,

Beta Regression Tendencies: Statistical and Real Causes pp. 261-63

Pieter T Elgers, James R Haltiner and William H Hawthorne

Betas and Their Regression Tendencies: Some Further Evidence pp. 265-67

Marshall E Blume