Journal of Finance

1946 - 2025

From American Finance Association
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Volume 31, issue 5, 1976

Investment for the Long Run: New Evidence for an Old Rule pp. 1273-86

Harry Markowitz

The Demand for Risky Assets under Uncertain Inflation pp. 1287-97

Irwin Friend, Yoram Landskroner and Etienne Losq

The Value of A Priori Information in Estimating a Financial Model pp. 1299-1322

Gary N Smith and William C Brainard

Flow and Stock Equilibrium in a Dynamic Metzler Model pp. 1323-39

William Branson and Ronald L Teigen

Simple Criteria for Optimal Portfolio Selection pp. 1341-57

Edwin J Elton, Martin J Gruber and Manfred W Padberg

Further Evidence on the Time Series Properties of Accounting Income pp. 1359-73

LeRoy D Brooks and Dale A Buckmaster

Taxation and the "Fisher Effect" pp. 1375-86

Arthur E Gandolfi

The Association between Market-Determined Risk Measures for Bonds and Bond Ratings pp. 1387-1403

Frank K Reilly and Michael D Joehnk

Some Further Implications of Profit Maximization by a Savings and Loan Association pp. 1405-26

Marcia L Stigum

An Analysis of Savings and Loan Profit Performance pp. 1427-42

James A Verbrugge, Richard A Shick and Kenneth J Thygerson

Regional Interaction and the Reserve Adjustment Lag within the Commercial Banking Sector pp. 1443-56

Thom Thurston

The Effect on Nonmember Banks of the Imposition of Member Bank Reserve Requirements-with and without Federal Reserve Services pp. 1457-69

Lawrence G Goldberg and John T Rose

Do Higher Reserve Requirements Discourage Federal Reserve Membership? pp. 1471-80

Chris Joseph Prestopino

Functional Form and the Dividend Effect in the Electric Utility Industry pp. 1481-86

Cheng F Lee

The Effect of "Fair Value" Rate Base Valuation in Electric Utility Regulation pp. 1487-90

H Craig Petersen

On Capitalization Rates for Riskless Streams pp. 1491-93

Henderson, Glenn V,

The Payments Impact of Foreign Investment Controls: Comment pp. 1495-1504

Guy V G Stevens

The Payments Impact of Foreign Investment Controls: Reply pp. 1505-08

Peter Lindert

Is the "Neutralized Money Stock" Unbiased? Comment pp. 1509-13

James Barth and James T Bennett

Policy and Statistical Exogeneity: Reply pp. 1514-15

Patric Hendershott

Volume 31, issue 4, 1976

An Evaluation of Alternative Empirical Models of the Term Structure of Interest Rates pp. 1035-65

Steven W Dobson, Richard C Sutch and David E Vanderford

Estimation and Uses of the Term Structure of Interest Rates pp. 1067-83

Willard T Carleton and Ian A Cooper

Skewness Preference and the Valuation of Risk Assets pp. 1085-1100

Alan Kraus and Robert H Litzenberger

Block Recursive Systems in Asset Pricing Models pp. 1101-13

William P Lloyd and Cheng F Lee

Multiperiod Portfolio Analysis and the Inefficiency of the Market Portfolio pp. 1115-26

N Gressis, G C Philippatos and J Hayya

Abandonment Values and Abandonment Decisions: A Clarification pp. 1125-28

O Maurice Joy

Transactions Costs and the Theory of Portfolio Selection pp. 1127-39

David Goldsmith

Insiders and Market Efficiency pp. 1141-48

Joseph E Finnerty

A Model of Asset Trading under the Assumption of Sequential Information Arrival pp. 1149-68

Thomas E Copeland

Admissible Portfolios for All Individuals pp. 1169-83

Vijay S Bawa

A Tax Cut in a Multiple Security Model: Crowding Out, Pulling In and the Term Structure of Interest Rates pp. 1185-99

Patric Hendershott

A Financial Early Warning System for Over-the-Counter Broker-Dealers pp. 1201-17

Edward Altman and Bettina Loris

Policy Conflict and Coordination under Fixed Exchanges: The Case of an Upward Sloping IS Curve pp. 1219-24

R V Cherneff

The Irrelevancy of Dividend Policy in an Arrow-Debreu Economy pp. 1229-30

Mark Rubinstein

Growth, Consolidation and Mergers in Banking: Comment pp. 1231-32

R Charles Moyer

Growth, Consolidation and Mergers in Banking: Comment pp. 1233-37

John T Rose

Predicting De Novo Expansion in Bank Merger Cases: Comment pp. 1239-42

Gregory E Boczar

Volume 31, issue 3, 1976

Leasing, Buying, and the Cost of Capital Services pp. 761-86

Merton Miller and Charles Upton

Asset Leasing in Competitive Capital Markets pp. 787-98

Wilbur G Lewellen, Michael S Long and John J McConnell

Valuation of Financial Lease Contracts pp. 799-819

Stewart C Myers, David A Dill and Alberto J Bautista

Effects of Usury Ceilings in the Mortgage Market pp. 821-34

James R Ostas

Predictability of Reserve Demand, Information Costs, and Portfolio Behavior of Commercial Banks pp. 835-43

Ernst Baltensperger and Hellmuth Milde

Money Supply Control: Reserves as the Instrument under Lagged Accounting pp. 845-52

David A Pierce

Reserve Measures as Operating Variables of Monetary Policy: An Empirical Analysis pp. 853-64

Daniel E Laufenberg

Market Tests of Capital Adequacy of Large Commercial Banks pp. 865-75

Richard H Pettway

The "Rule of 78" pp. 877-88

Dick Bonker

Rational Expectations under Conditions of Costly Information pp. 889-95

Michael Darby

Optimal Initiation of Bankruptcy Proceedings by Debt Holders pp. 897-910

James C Van Horne

Should a Corporation Repurchase Its Own Stock? pp. 911-21

Stewart, Samuel S,

Inflation and Capital Budgeting pp. 923-31

Charles Nelson

A Portfolio Approach to Fossil Fuel Procurement in the Electric Utility Industry pp. 933-47

Dan Bar-Lev and Steven Katz

The Effect of "Market Indexes" on the Ex-Post Performance of the Sharpe Portfolio Selection Model pp. 949-55

George M Frankfurter

Money, Prices and Output pp. 956-59

Edward F Renshaw

On Bernoulli, Sharpe, Financial Risk and the St. Petersburg Paradox pp. 960-62

John T Sennetti

The Effect of FHLB Bond Operations on Savings Inflows at Savings and Loan Associations: Comment pp. 963-72

Peter Fortune

Optimal Financing and Capital Structure Programs for the Firm: Comment pp. 973-75

Isik Inselbag

Optimal Financing and Capital Structure Programs for the Firm: Reply pp. 976

Clement G Krouse

On the Methodology of Testing for Independence in Future Prices: Comment pp. 977-79

Peter D Praetz

On the Methodology of Testing for Independence in Future Prices: Reply pp. 980-83

Robert M Bear and Richard A Stevenson

On the Methodology of Testing for Independence in Future Prices: Reply pp. 984-85

Raymond M Leuthold

Company Contributions to Discretionary Profit-Sharing Plans: Comment pp. 986-90

Ulf Peter Welam

Company Contributions to Discretionary Profit-Sharing Plans: Reply pp. 991-94

James Monahan and Kenneth Monahan

100" Margins Revisited pp. 995-1000

Eckardt, Walter L, and Donald L Rogoff

The Intricate Relationship between Financial Leverage and the Stability of Stock Prices: A Correction pp. 1001

Robert A Haugen and Dean W Wichern

Volume 31, issue 2, 1976

A Portfolio Theory of the Social Discount Rate and the Public Debt pp. 199-214

Myron J Gordon

A Transactions Cost Approach to the Theory of Financial Intermediation pp. 215-31

George J Benston and Smith, Clifford W,

Restrictions on the Rate of Interest on Demand Deposits and a Theory of Compensating Balances pp. 233-52

Mullins, David Wiley,

Studies in the Economics of Bank Regulation: Discussion pp. 252-55

James L Bicksler

Is There a Capital Shortage: Theory and Recent Empirical Evidence pp. 257-68

Leonall C Andersen

Capital Shortages: Myth or Reality? pp. 269-86

Paul Wachtel, Arnold Sametz and Harry Shuford

The Effects of Tax Policy on Capital Formation, Corporate Liquidity and the Availability of Investible Funds: A Simulation Study pp. 287-308

Andrew F Brimmer and Allen Sinai

Is There a Capital Shortage: Discussion pp. 309-12

Benjamin M Friedman

Is There a Capital Shortage: Discussion pp. 312-15

Sally S Ronk

Is There a Capital Shortage: Discussion pp. 315-18

Charles Upton

Taxes and the Pricing of Options pp. 319-32

Myron Scholes

The Impact on Option Pricing of Specification Error in the Underlying Stock Price Returns pp. 333-50

Robert Merton

Valuing Corporate Securities: Some Effects of Bond Indenture Provisions pp. 351-67

Fischer Black and John C Cox

Standard Deviations of Stock Price Ratios Implied in Option Prices pp. 369-81

Henry A Latane and Rendleman, Richard J,

A Survey of Some New Results in Financial Option Pricing Theory pp. 383-402

John C Cox and Stephen Ross

Recent Research on Indexation and the Housing Market pp. 403-13

Richard A Cohn and Donald Lessard

An Empirical Study of Mortgage Payment to Income Ratios in a Variable Rate Mortgage Program pp. 415-25

Stanley R Stansell and James A Millar

Financial Innovation and the Mortgage Market: The Possibilities for Liability Management by Thrifts pp. 427-37

Donald P Tucker

Inflation and Structural Changes in the Residential Mortgage Market: Discussion pp. 437-41

Alan J Donziger

Inflation and Structural Changes in the Residential Mortgage Market: Discussion pp. 441-43

Richard V Eastin

Inflation and Structural Changes in the Residential Mortgage Market: Discussion pp. 443-46

Robert H Edelstein

The "Fisher Effect" for Risky Assets: An Empirical Investigation pp. 447-58

Jeffrey F Jaffe and Gershon Mandelker

Common Stocks as a Hedge against Inflation pp. 459-70

Zvi Bodie

Inflation and Rates of Return on Common Stocks pp. 471-83

Charles Nelson

Inflation and Stock Prices: Discussion pp. 483-87

Donald Nichols

The Impact of Outstanding Convertible Bonds on Corporate Dividend Policy pp. 489-506

Dileep R Mehta

Super Premium Security Prices and Optimal Corporate Financing Decisions pp. 507-24

David W Glenn

Valuation and Asset Selection under Alternative Investment Opportunities pp. 525-39

Edwin J Elton and Martin J Gruber

Studies in Business Finance: Discussion pp. 540-43

Manak C Gupta

Studies in Business Finance: Discussion pp. 543-46

Robert S Hamada

Studies in Business Finance: Discussion pp. 546-49

George E Pinches

The Strong Case for the Generalized Logarithmic Utility Model as the Premier Model of Financial Markets pp. 551-71

Mark Rubinstein

On the Efficiency of Competitive Stock Markets Where Trades Have Diverse Information pp. 573-85

Sanford Grossman

The Investment Decision of the Firm under Uncertainty and the Allocative Efficiency of Capital Markets pp. 587-602

Niels Christian Nielsen

Allocational Efficiency of Security Markets under Uncertainty: Discussion pp. 602-04

Alan Kraus

Allocational Efficiency of Security Markets under Uncertainty: Discussion pp. 605-09

Frederick L A Grauer

The Capital Market, the Market for Information, and External Accounting pp. 611-30

Nicholas J Gonedes

Competitive Information in the Stock Market: An Empirical Study of Earnings, Dividends and Analysts' Forecasts pp. 631-50

Paul A Griffin

An Empirical Analysis of Differential Capital Market Reactions to Extraordinary Accounting Items pp. 651-74

Robert K Eskew and William F Wright

Financing and Accounting: Discussion pp. 674-77

David H Downes

Finance and Accounting: Discussion pp. 677-79

Ross Watts

Finance and Accounting: Discussion pp. 680-84

Shyam Sunder

Measuring Allocative Efficiency with Technological Uncertainty pp. 685-700

Clement G Krouse

The Value of the Firm under Regulation pp. 701-13

Jeffrey F Jaffe and Gershon Mandelker

Mergers, Antitrust Law Enforcement and Stockholder Returns pp. 715-32

James C Ellert

The Determinants of Common Stock Returns Volatility: An International Comparison pp. 733-40

Cohen, Kalman J, et al

Finance and Industrial Organization: Discussion pp. 740-43

Long, John B,

Finance and Industrial Organization: Discussion pp. 743-47

J Fred Weston and Edward M Rice

Finance and Industrial Organization: Discussion pp. 748-51

Stavros B Thomadakis

Finance and Industrial Organization: Discussion pp. 751-52

Donald Lessard

Volume 31, issue 1, 1976

Capital Market Equilibrium for a Class of Heterogeneous Expectations in a Two-Parameter World pp. 1-15

Nicholas J Gonedes

Negotiated Versus Competitive Underwritings of Corporate Bonds pp. 17-28

Louis H Ederington

On Corporate Debt Maturity Strategies pp. 29-37

James R Morris

Performance of Conglomerate Firms: A Portfolio Approach pp. 39-48

R Hal Mason and Maurice B Goudzwaard

Optimal Speculation against an Efficient Market pp. 49-61

Jeffrey F Jaffe and Robert L Winkler

Sensitivity Analysis of Rates of Return pp. 63-69

William D Whisler

Rates of Return on Filter Tests pp. 71-75

Peter D Praetz

Integral Constraints and Aggregation in an Inventory Model of Money Demand pp. 77-88

Robert Barro

Monetary Policy and Banking Profits pp. 89-101

Stuart I Greenbaum, Mukhtar M Ali and Randall C Merris

Bootstrap Inflation pp. 103-12

Leland B Yeager

Consumer Credit and Consumer Demand for Automobiles pp. 113-23

David B Eastwood and Robert C Anderson

Mathematical Programming, the Capital Asset Pricing Model and Capital Budgeting of Interrelated Projects pp. 125-31

Howard E Thompson

Rational Insurance Purchasing pp. 133-37

Assaf Razin

Efficient Capital Markets: Comment pp. 139-41

Stephen LeRoy

Efficient Capital Markets: Reply pp. 143-45

Eugene Fama

A General Solution to the Buy or Lease Decision: A Pedagogical Note: Comment pp. 147-51

Henderson, Glenn V,

Portfolio Returns and the Random Walk Theory: Comment pp. 153-56

M Barry Goldman

Portfolio Returns and the Random Walk Theory: Reply pp. 157-61

Pao L Cheng and M King Deets

Determinants of the Aggregate Profit Margin: Comment pp. 163-65

H Peter Gray

Determinants of the Aggregate Profit Margin: Reply pp. 167-68

Sidney R Finkel and Donald L Tuttle