Journal of Finance

1946 - 2025

From American Finance Association
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Volume 33, issue 5, 1978

Default Risk under Alternative Mortgage Instruments pp. 1279-96

Kerry Vandell

Corporate Debt Decisions: A New Analytical Framework pp. 1297-1315

John Caks

Project Valuation with Mean-Reverting Cash Flow Streams pp. 1317-31

Sudipto Bhattacharya

Pricing of Warrants and the Value of the Firm pp. 1333-42

Dan Galai and Meir I Schneller

The Seasoning Process of New Corporate Bond Issues pp. 1343-54

Mark I Weinstein

Temporary Trading Suspensions in Individual NYSE Securities pp. 1355-73

Michael H Hopewell and Schwartz, Arthur L,

Are Betas Best? pp. 1375-84

Edwin J Elton, Martin J Gruber and Thomas J Urich

Some Direct Evidence on the Dividend Clientele Phenomenon pp. 1385-99

Lewellen, Wilbur G, et al

Perceived Risk and Capital Asset Pricing pp. 1401-24

Arthur E Gooding

An Examination of the Effects of International Diversification from the British Viewpoint on Both Hypothetical and Real Portfolios pp. 1425-38

James R F Guy

A Note on Taxation and Investment pp. 1439-45

Jeffrey F Jaffe

Interactions in Corporate Financing and Investment Decisions-Implications for Capital Budgeting: A Further Comment pp. 1447-53

D J Ashton and D R Atkins

Financial Risk and the St. Petersburg Paradox: Comment pp. 1455-56

Thomas W Epps

Sensitivity Analysis of Rates of Return: Comment pp. 1457-60

W. James Smith

Sensitivity Analysis of Rates of Return: Reply pp. 1461

O Maurice Joy and Jerry O Bradley

Volume 33, issue 4, 1978

Ambiguity when Performance is Measured by the Securities Market Line pp. 1051-69

Richard Roll

On Individual Loans' Pricing, Credit Rationing, and Interest Rate Regulation pp. 1071-85

Avner Kalay and Ramon Rabinovitch

On Economies of Scale in Credit Unions pp. 1087-94

Ronald S Koot

The Nature of the Conflict between Transactors' Expectations of Capital Gain pp. 1095-1107

John T Bart

Horse Racing: Testing the Efficient Markets Model pp. 1109-18

Wayne W Snyder

Market Timing and Portfolio Management pp. 1119-31

Dwight Grant

The Supply of Dealer Services in Securities Markets pp. 1133-51

Hans Stoll

The Pricing of Security Dealer Services: An Empirical Study of NASDAQ Stocks pp. 1153-72

Hans Stoll

The Impact of Taxes, Risk and Relative Security Supplies on Interest Rate Differentials pp. 1173-86

Timothy Q Cook and Patric Hendershott

Future Investment Opportunities and the Value of the Call Provision on a Bond pp. 1187-1200

Zvi Bodie and Taggart, Robert A,

The Cost of Equity Capital with Personal Income Taxes and Flotation Costs pp. 1201-12

Myron J Gordon and L I Gould

More Evidence on the Distribution of Security Returns pp. 1213-21

Robert L Hagerman

A Comment on Investment Decisions, Repetitive Games, and the Unequal Distribution of Wealth pp. 1222-27

Eli Schwartz and James A Greenleaf

Neutral Recapitalizations: Predictions and Tests Concerning Valuation and Welfare pp. 1228-34

Howard B Sosin

The Relationship between Yield, Risk and Return of Corporate Bonds pp. 1235-40

Robert Jarrow

Comments on Single Valued Duration Measures pp. 1241-43

J L Carr, P J Halpern and John S McCallum

Risk Efficiency Using Stochastic Dominance and Expected Gain-Confidence Limits pp. 1244-49

Lindon Robison and Peter J Barry

The Rate of Return of Selected Investment Projects pp. 1250-53

Keith C Brown

Volume 33, issue 3, 1978

Regulation and Modern Finance Theory pp. 693-705

Alexander A Robichek

Rate Regulation, Capital Structure and the Sharing of Interest Rate Risk in the Electric Utility Industry pp. 707-21

Robert A Haugen, A L Stroyny and D W Wichern

Limit Orders, Market Structure, and the Returns Generation Process pp. 723-36

Cohen, Kalman J, et al

Elimination of the Double Taxation of Dividends and Corporate Financial Policy pp. 737-50

Robert H Litzenberger and James C Van Horne

Valuation with Public Policy Implications: Discussion pp. 750-51

Willard T Carleton

Valuation with Public Policy Implications: Discussion pp. 752-54

Frank K Reilly

Valuation with Public Policy Implications: Discussion pp. 754-57

E Han Kim

Welfare Aspects of Options and Supershares pp. 759-76

Nils H Hakansson

Some Notes on Financial Incentive-Signalling Models, Activity Choice and Risk Preferences pp. 777-92

Stephen Ross

Recent Theoretical Developments in Financial Theory: Discussion pp. 792-94

Robert Willig

The New Exchange Rate Regime and the Developing Countries pp. 795-802

Alexandre Kafka

The Balance of Payments Adjustment Process Revisited pp. 803-13

Helen B Junz

International Finance: Discussion pp. 813-15

Stanley Black

International Finance: Discussion pp. 815-17

Robert Salomon

Technology, Communication and the Performance of Financial Markets: 1840-1975 pp. 819-32

Kenneth Garbade and William L Silber

Who Puts the Inflation Premium into Nominal Interest Rates? pp. 833-45

Benjamin M Friedman

Money and Capital Markets: Discussion pp. 845-47

Franklin R Edwards

The Cost of Equity Capital: A Reconsideration pp. 849-61

Myron J Gordon and L I Gould

Recent Developments in the Cost of Debt Capital pp. 863-77

Andrew H Chen

Cost of Capital Theory: State of the Art: Discussion pp. 878-81

Jean Crockett

Cost of Capital Theory: State of the Art: Discussion pp. 881-83

Jess B Yawitz

The Current Status of the Capital Asset Pricing Model (CAPM) pp. 885-901

Stephen Ross

New Evidence on the Capital Asset Pricing Model pp. 903-17

Irwin Friend, Randolph Westerfield and Michael Granito

Capital Asset Pricing Theory: Discussion pp. 917-20

William Sharpe

Getting Along without Regulation Q: Testing the Standard View of Deposit-Rate Competition during the "Wild-Card Experience." pp. 921-32

Edward Kane

Estimates of the Effectiveness of Stabilization Policies for the Mortgage and Housing Markets pp. 933-46

Dwight M Jaffee and Kenneth T Rosen

Taxation and the Incidence of Homeownership across Income Groups pp. 947-61

Robert H Litzenberger and Howard B Sosin

Financial and Tax Incentives to Home Ownership: Obstacles to Reform: Discussion pp. 961-62

Jack Guttentag

Financial and Tax Incentives to Home Ownership: Obstacles to Reform: Discussion pp. 962-64

Donald P Tucker

Capital Formation and the Recent Productivity Slowdown pp. 965-75

Peter Clark

The U.S. Productivity Growth Recession: History and Prospects for the Future pp. 977-88

Michael D McCarthy

The Long-Term Effects of Government Deficits on the U.S. Output Potential pp. 989-1001

George von Furstenberg

Slowdown in the Growth of Productivity in the United States: Discussion pp. 1001-06

John Norsworthy

Slowdown in the Growth of Productivity in the United States: Discussion pp. 1006-10

Edward F Denison

Foreign Exchange Hedging and the Capital Asset Pricing Model pp. 1011-18

Alexander A Robichek and Mark R Eaker

The Theory of the Trading Firm Revisited pp. 1019-30

Bernard Dumas

Capital Asset Pricing in International Finance: Discussion pp. 1030-31

Ian H Giddy

Capital Asset Pricing in International Finance: Discussion pp. 1031-33

Frederick L A Grauer

Volume 33, issue 2, 1978

The Insignificance of Bankruptcy Costs to the Theory of Optimal Capital Structure pp. 383-93

Robert A Haugen and Lemma W Senbet

The Equivalence of Alternative Mean-Variance Capital Budgeting Models pp. 395-401

Lemma W Senbet and Howard E Thompson

Evaluating Investments in Accounts Receivable: A Wealth Maximizing Framework pp. 403-12

Yong H Kim and Joseph C Atkins

Capital Markets and the Short Run Behavior of Life Cycle Savers pp. 413-28

Walter Dolde

The Common-Stock-Portfolio Performance Record of Individual Investors: 1964-70 pp. 429-41

Gary G Schlarbaum, Wilbur G Lewellen and Ronald C Lease

The Performance of the British Investment Trust Industry pp. 443-55

James R F Guy

Estimation of Time-Varying Systematic Risk and Performance for Mutual Fund Portfolios: An Application of Switching Regression pp. 457-75

Stanley J Kon and Frank C Jen

Commission Cost Structure: Shifts and Scale Economies pp. 477-86

Robert O Edmister

Marketplace Organization and Marketability: NASDAQ, the Stock Exchange, and the National Market System pp. 487-503

James L Hamilton

Valuation Consequences of Cash Tender Offers pp. 505-16

Donald R Kummer and J Ronald Hoffmeister

Portfolio Theory and the Problem of Foreign Exchange Risk pp. 517-34

John Makin

A Portfolio-Balance Model of Corporate Working Capital pp. 535-52

Edward E Yardeni

Ordering Uncertain Options with Borrowing and Lending pp. 553-74

Haim Levy and Yoram Kroll

Nonhomogeneous Expectations and Information in the Capital Asset Market pp. 575-87

Ramon Rabinovitch and Joel Owen

Portfolio Selection in an Economy with Marketability and Short Sales Restrictions pp. 589-601

Ney O Brito

Market Risk Adjustment in Project Valuation pp. 603-16

George Constantinides

The Pricing of Options with Stochastic Dividend Yield pp. 617-25

Robert Geske

Interest Rate Risk and Systematic Risk: An Interpretation pp. 626-30

Albert R Eddy

The Predictability of Real Portfolio Risk Levels pp. 631-39

Robert C Klemkosky and Terry S Maness

Block Recursive Systems in Asset Pricing Models: An Extension pp. 640-44

Cheng F Lee and William P Lloyd

An Analytic Approach to Sensitivity Analysis of the Internal Rate of Return Model pp. 645-49

Frank Hsiao and W. James Smith

Tax Shield Valuation and the Capital Structure Decision pp. 650-56

Dwayne Wrightsman

Valuation of Financial Lease Contracts: A Note pp. 657-69

Julian R Franks and Stewart D Hodges

Synergism in Mergers: Some British Results pp. 670-72

Michael Firth

Volume 33, issue 1, 1978

The Superiority of Analyst Forecasts as Measures of Expectations: Evidence from Earnings pp. 1-16

Lawrence D Brown and Michael S Rozeff

Earnings Changes, Stock Prices, and Market Efficiency pp. 17-28

Stewart L Brown

The Adjustment of Stock Prices to Bond Rating Changes pp. 29-44

George E Pinches and J Clay Singleton

A Mean-Variance Theory of Optimal Capital Structure and Corporate Debt Capacity pp. 45-63

E Han Kim

The Valuation and Cost of Capital of the Levered Firm with Growth Opportunities pp. 65-73

Fred D Arditti and John M Pinkerton

Estimating Term Structure Equations with Individual Bond Data pp. 75-92

Steven W Dobson

Time Series Analysis of Interest Rates: Some Additional Evidence pp. 93-103

John R Brick and Howard E Thompson

Risk Premiums on Federal Agency Debt pp. 105-16

Kenneth Garbade and Joseph F Hunt

Monetary Policy, Inflation Forecasting and the Term Structure of Interest Rates pp. 117-27

W Bradford Cornell

Common Stock Volatility Expectations Implied by Option Premia pp. 129-47

Richard Schmalensee and Robert R Trippi

The Returns Generation Process, Returns Variance, and the Effect of Thinness in Securities Markets pp. 149-67

Cohen, Kalman J, et al

Call Option Pricing when the Exercise Price Is Uncertain, and the Valuation of Index Bonds pp. 169-76

Stanley Fischer

The Value of an Option to Exchange One Asset for Another pp. 177-86

William Margrabe

Consistent Empirical Results with Almon's Method: Implications for the Monetary versus Fiscal Policy Debate pp. 187-98

Charles P Harper and Clifford L Fry

On the Distributional Impact of Federal Interest Rate Restrictions pp. 199-213

Charles Clotfelter and Charles Lieberman

The Determination of Savings and Loan Association Deposit Rates in the Absence of Rate Ceilings: A Cross-Section Approach pp. 215-30

John S Lapp

A Model of the Market for Lines of Credit pp. 231-44

Tim S Campbell

Competition between Banks and Finance Companies: A Cross Section Study of Personal Loan Debtors pp. 245-58

Gregory E Boczar

Economies of Scale and Organizational Efficiency in Banking: A Profit-Function Approach pp. 259-80

Donald J Mullineaux

Survey and Analysis of Capital Budgeting Methods pp. 281-87

Lawrence D Schall, Gary L Sundem and Geijsbeek, William R,

A Note on Skewness and Data Errors pp. 288-92

William L Beedles and Michael A Simkowitz

Duration and Risk Assessment for Bonds and Common Stocks: A Note pp. 293-95

Miles Livingston

Simple Criteria for Optimal Portfolio Selection: Tracing out the Efficient Frontier pp. 296-302

Edwin J Elton, Martin J Gruber and Manfred W Padberg

Goal Programming and the Selection of Portfolios by Dual-Purpose Funds pp. 303-10

P C Kumar, George C Philippatos and John R Ezzell

Nonmember Banks and Empirical Measures of the Variability of Reserves and Money: A Theoretical Appraisal pp. 311-18

Kenneth J Kopecky

On the Monetary Approach to the Balance of Payments: The Small, Open Economy pp. 319-23

D Sykes Wilford and Walton T Wilford

"A Multivariate Analysis of Industrial Bond Ratings" and the Role of Subordination: A Comment pp. 325-35

Robert Eisenbeis

"A Multivariate Analysis of Industrial Bond Ratings" and the Role of Subordination: Reply pp. 336-44

George E Pinches

Portfolio Efficiency Analysis in Three Moments-The Multiperiod Case: Comment pp. 345-48

Michael Granito and Patrick Walsh

Bond Refunding: One or Two Faces? pp. 349-53

Thomas H Mayor and Kenneth G McCoin

The Two Faces of Bond Refunding: Reply pp. 354-56

James S Ang