Journal of Finance

1946 - 2025

From American Finance Association
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Volume 27, issue 5, 1972

Dividend Announcements, Security Performance, and Capital Market Efficiency pp. 993-1007

R Richardson Pettit

Basic Methods for Distributing Special Drawing Rights and the Problem of International Aid pp. 1009-22

Herbert Grubel

The Effect of Deposit Rate Ceilings on Aggregate Income pp. 1023-34

Gordon Pye and Ian Young

Polynomial Distributed Lag Structures in the Demand Function for Money pp. 1035-43

Harold D Dickson and Dennis R Starleaf

Finding the Optimal Monetary Strategy with Information Constraints pp. 1045-56

Thomas Havrilesky

Optimal Financing and Capital Structure Programs for the Firm pp. 1057-71

Clement G Krouse

How to Integrate Corporate and Personal Income Taxation pp. 1073-80

Eli Schwartz and J Richard Aronson

The Impact of Unanticipated Changes in Inflation on the Value of Common Stocks pp. 1081-92

James C Van Horne and Glassmire, William F,

A Note on Investment Evaluations in Light of Uncertain Future Opportunities pp. 1093-1100

Bernhard Schwab and Peter Lusztig

Projecting Market Structure by Monte Carlo Simulation: A Study of Bank Expansion in New Jersey pp. 1101-26

George R Juncker and George S Oldfield

The Gold Sovereign Market in Greece-An Unusual Speculative Market pp. 1127-35

N A Niarchos and Clive Granger

Brimmer on the Financing of Black Economic Development: Comment pp. 1137-38

Ira Brous

Financing of Black Economic Development: Reply pp. 1139-40

Andrew F Brimmer

Valuation and the Cost of Capital for Regulated Utilities: Comment pp. 1141-46

Myron J Gordon and John S McCallum

Valuation and the Cost of Capital for Regulated Utilities: Comment pp. 1147-49

Michael Brennan

Valuation and the Cost of Capital for Regulated Utilities: Reply pp. 1150-55

Edwin J Elton and Martin J Gruber

Premiums on Convertible Bonds: Comment pp. 1156-62

Richard R West and Largay, James A,

Premiums on Convertible Bonds: Reply pp. 1163-70

Roman L Weil, Joel E Segall and David O Green

Volume 27, issue 4, 1972

The Hunt Commission Report: A Search for Politically Feasible Solutions to the Problems of Financial Structure pp. 765-77

Roland I Robinson

Psychological Study of Human Judgment: Implications for Investment Decision-Making pp. 779-99

Paul Slovic

Active and Passive Monetary Policy in a Neoclassical Model pp. 801-14

Fischer Black

Analysis of the Lease-or-Buy Decision pp. 815-23

Robert W Johnson and Wilbur G Lewellen

Differential Effects of Tight Money: An Economic Rationale pp. 825-38

Manak C Gupta

The Relations Among Equity Markets: A Study of Share Price Co-Movements in the United States, United Kingdom, Germany and Japan pp. 839-55

Tamir Agmon

Secular Trends in Risk Premiums pp. 857-64

Robert H Litzenberger and A P Budd

Some Effects of Affiliations Among Mutual Savings and Commercial Banks pp. 865-77

Alan McCall and Robert Eisenbeis

Random Walk and Price Trends: The Live Cattle Futures Market pp. 879-89

Raymond M Leuthold

The Economic Value of the Call Option pp. 891-901

Edwin J Elton and Martin J Gruber

A Note on the Prediction of Portfolio Performance from Ex Post Data pp. 903-06

Marshall Sarnat

A Note on Reinvestment Assumptions in Choosing Between Net Present Value and Internal Rate of Return pp. 907-15

Dudley, Carlton L,

The Relative Stability of Potato Velocity and the Exercise Multiplier in the United States pp. 919-20

Ballman, R J,

The Supply of Money and Common Stock Prices: Comment pp. 921-26

Burton G Malkiel and Richard E Quandt

An Econometric Study of Eurodollar Borrowing by New York Banks and the Rate of Interest on Eurodollars: Comment pp. 927-30

Vincent G Massaro

An Econometric Study of Eurodollar Borrowing by New York Banks and the Rate of Interest on Eurodollars: Reply pp. 931-32

Stanley Black

Risk-Premium Curves for Different Classes of Long-Term Securities, 1950-1966: Comment pp. 933-39

Richard W McEnally

Risk-Premium Curves for Different Classes of Long-Term Securities, 1950-1966: Reply pp. 940-43

Robert M Soldofsky and Roger L Miller

Volume 27, issue 3, 1972

Components of Investment Performance pp. 551-67

Eugene Fama

Price Impacts of Block Trading on the New York Stock Exchange pp. 569-88

Alan Kraus and Hans Stoll

A Time Series Analysis of Post-Accord Interest Rates pp. 589-605

V. Smith and Richard G Marcis

Evidence Regarding a Segmented Stock Market pp. 607-25

Frank K Reilly

An Inter-Temporal Approach to the Optimization of Dividend Policy with Predetermined Investments pp. 627-35

Wallingford, Buckner A,

Supervisory Influence on Bank Capital pp. 637-51

Lucille S Mayne

Demand for Short-Term Foreign Assets by the German Banks pp. 653-62

Charles C F Ou

Some Time Series Properties of Accounting Income pp. 663-81

Ray Ball and Ross Watts

On the Optimality of Satiation in Money Balances pp. 683-98

Jacques Melitz

A Note on Justifying Beta as a Measure of Risk pp. 699-702

Guilford C Babcock

A Problem in Probability Distribution Techniques for Capital Budgeting pp. 703-09

Robert H Keeley and Randolph Westerfield

Corporate Bankruptcy Potential, Stockholder Returns and Share Valuation: Comment pp. 711-17

Mark Hanna

Corporate Bankruptcy Potential, Stockholder Returns and Share Valuation: Reply pp. 718-21

Edward Altman

A Microeconomic Approach to Banking Competition: Comment pp. 722-23

George J Benston

A Microeconomic Approach to Banking Competition: Reply pp. 724-26

Eric Brucker

Federal Open Market Operations and Variations in the Reserve Base: Comment pp. 727-29

Jan Warren Duggar

Federal Open Market Operations and Variations in the Reserve Base: Reply pp. 730-32

Vittorio Bonomo and Charles Schotta

Volume 27, issue 2, 1972

Distribution of Federal and State Income Taxes by Income Classes pp. 179-91

Joseph A Pechman

Patterns of Housing Experience During Periods of Credit Restraint in Industrialized Countries pp. 193-205

Robert Moore Fisher and Charles J Siegman

Disequilibrium in Housing Models pp. 207-21

Ray Fair

Patterns of Housing Experience During Periods of Credit Restraint in Industrialized Countries: Discussion pp. 222-23

James Gillies

Patterns of Housing Experience During Periods of Credit Restraint in Industrialized Countries: Discussion pp. 224-26

Leo Grebler

Disequilibrium in Housing Models: Discussion pp. 226-27

R Bruce Ricks

Disequilibrium in Housing Models: Discussion pp. 227-30

Lawrence B Smith

Money and Stock Prices: The Channels of Influence pp. 231-49

Michael J Hamburger and Levis A Kochin

Interest Rates on Monetary Assets and Commodity Price Index Changes pp. 251-77

Richard Roll

Monetary Policy in the 'Checkless' Economy pp. 279-93

Donald D Hester

Money and Stock Prices: The Channels of Influence: Discussion pp. 294-98

Merton Miller

Interest Rates on Monetary Assets and Commodity Price Index Changes: Discussion pp. 298-302

William Poole

Monetary Policy in the 'Checkless' Economy: Discussion pp. 302-04

Alvin Marty

Some Contributions of the Institutional Investor Study pp. 305-17

Lawrence D Jones

The Commission on Financial Structure and Regulation: Its Organization and Recommendations pp. 319-28

Donald P Jacobs and Almarin Phillips

Some Contributions of the Institutional Investor Study: Discussion pp. 329-33

Marshall E Blume

The Commission on Financial Structure and Regulation: Its Organization and Recommendations: Discussion pp. 333-35

Robert Lindsay

The Commission on Financial Structure and Regulation: Its Organization and Recommendations: Discussion pp. 336-39

Eli Shapiro

The Commission on Financial Structure and Regulation: Its Organization and Recommendations: Discussion pp. 340-41

George Stigler

Risk, Return and Disequilibrium: An Application to Changes in Accounting Techniques pp. 343-53

Ray Ball

The Value of Perfect Market Forecasts in Portfolio Selection pp. 355-69

Nancy L Jacob and Keith V Smith

Econometric Forecasting of Common Stock Investment Returns: A New Methodology Using Fundamental Operating Data pp. 371-80

Walt McKibben

The Speculative Behavior of Mutual Funds pp. 381-91

Donald G Simonson

Econometric Forecasting of Common Stock Investment Returns: A New Methodology Using Fundamental Operating Data: Discussion pp. 392-95

James L Bicksler

The Value of Perfect Market Forecasts in Portfolio Selection: Discussion pp. 395-98

Michael Brennan

The Valuation of Option Contracts and a Test of Market Efficiency pp. 399-417

Fischer Black and Myron Scholes

Wealth, Welfare, and the Price of Risk pp. 419-33

John Long

The Effect of the Firm's Capital Structure on the Systematic Risk of Common Stocks pp. 435-52

Robert S Hamada

Portfolio Theory and Security Analysis: Discussion pp. 453-56

John Lintner

Portfolio Theory and Security Analysis: Discussion pp. 456-58

William Sharpe

The Analysis of Real Estate Investments Under Uncertainty pp. 459-71

Peter G K Pellatt

Selective Credit Policy: Is It Justified and Can It Work? pp. 473-79

D C Rao

Predictive Ability and Dynamic Multiplier Properties of Alternative Treatments of the Monetary Mechanism pp. 481-93

Koji Shinjo

The Analysis of Mergers and Acquisitions pp. 495-502

Richard A Shick

Interrelated Models of Household Behavior: A Summary and an Extension pp. 503-06

Paul Wachtel

Contributed Papers II: Discussion pp. 507-08

J R Longstreet

Contributed Papers II: Discussion pp. 509-10

Lawrence S Ritter

The Economics of the Asset Depreciation Range System: The Case Against ADR pp. 511-24

Paul Taubman

Tax Policy and Depreciation: The Case for ADR pp. 525-33

Gerard M Brannon

Tax Depreciation Reform: Discussion pp. 534-37

Robert M Coen

Tax Depreciation Reform: Discussion pp. 537-41

Martin David

Volume 27, issue 1, 1972

Interest Rates, Portfolio Behavior, and Marketable Government Securities pp. 1-35

William T Terrell and Frazer, William J,

On Systematic and Unsystematic Components of Financial Risk pp. 37-45

Avraham Beja

Portfolio Selection and the Structure of Capital Asset Prices When Relative Prices of Consumption Goods May Change pp. 47-60

Donald G Heckerman

An Alternate Estimation of the "Neutralized Money Stock." pp. 61-64

David A Bowers and Lorraine E Duro

Bank Entry and Bank Performance pp. 65-78

Donald R Fraser and Peter S Rose

On the Causes and Consequences of Savings and Loan Deposit Rate Inflexibility pp. 79-87

Michael A Klein

A Note on Linear Programming and Capital Budgeting pp. 89-92

Stewart C Myers

A Note on Investment Policy with Imperfect Capital Markets pp. 93-96

Charles W Haley and Lawrence D Schall

New Issue Stock Price Behavior pp. 97-102

J G McDonald and A K Fisher

A Note on the Simultaneous Nature of Finance Methodology pp. 103-08

Michael A Simkowitz and Charles P Jones

The Eurobond and Capital Market Integration pp. 110-26

Morris Mendelson

Simple Strategies for Portfolio Diversification: Comment pp. 127-29

William Sharpe

Eurodollar Borrowing by New York Banks and the Rate of Interest on Eurodollars: Comment pp. 130-33

John J Valentini and Hunt, Lacy H,

Eurodollar Borrowing by New York Banks and the Rate of Interest on Eurodollars: Reply pp. 134-35

Stanley Black

The Erroneous MEC Function: Comment pp. 136-37

Yutaka Imai and William Nelson

The Erroneous MEC Function: Reply pp. 138

E Norman Bailey