Journal of Finance

1946 - 2025

From American Finance Association
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Volume 26, issue 5, 1971

The Supply of Money and Common Stock Prices pp. 1045-66

Kenneth E Homa and Dwight M Jaffee

Determinants of the Aggregate Profits Margin pp. 1067-76

Sidney R Finkel and Donald L Tuttle

Monetary Policy Effectiveness: The Case of a Positively Sloped IS Curve pp. 1077-82

William L Silber

The Payments Impact of Foreign Investment Controls pp. 1083-1100

Peter Lindert

The Performance of Primary Common Stock Offerings: A Canadian Comparison pp. 1101-14

David C Shaw

A Note on Dividend Irrelevance and the Gordon Valuation Model pp. 1115-22

Michael Brennan

A Simultaneous Equation Approach to Financial Planning pp. 1123-42

James M Warren and John P Shelton

Consumer Perception of Incurred Interest Rates: An Empirical Test of the Efficacy of the Truth-in-Lending Law pp. 1143-54

Lewis Mandell

Deposit Rate Setting by Savings and Loan Associations: Comment pp. 1155-57

John H Boyd

Deposit Rate Setting by Savings and Loan Associations: Reply pp. 1158-59

Stephen M Goldfeld and Dwight M Jaffee

The Effect of Credit on the Interest Elasticity of the Transaction Demand for Cash: Comment pp. 1161-62

Robert H Litzenberger

The Effect of Credit on the Transaction Demand for Cash: Reply pp. 1163-65

A S Rama Sastry

Financial Structure and the Theory of Production: Comment pp. 1166

Yutaka Imai

Volume 26, issue 4, 1971

Financial Disintermediation in a Macroeconomic Framework pp. 843-56

Patric Hendershott

Multi-Period Mean-Variance Analysis: Toward A General Theory of Portfolio Choice pp. 857-84

Nils H Hakansson

The Federal Open Market Committee's Proviso Clause: Usage and Analysis pp. 885-96

Jan Warren Duggar

The Structure of International Interest Rates: An Extension of Hendershott's Tests pp. 897-900

Sung Y Kwack

Taxes, the Cost of Capital, and the Firm's Investment Decisions pp. 901-18

Charles W Haley

Tests of the Efficiency Performance of Conglomerate Firms pp. 919-36

J Fred Weston and Surendra K Mansinghka

A Reply to the Weston/Mansinghka Criticisms Dealing with Conglomerate Mergers pp. 937-46

Samuel R Reid

On the Measurement of Opportunity Cost in Transactions Demand Models pp. 947-50

Dwayne Wrightsman and John Terninko

On the Differential Effects of Tight Money: A Comment pp. 951-54

Jonas Prager and Jacob Paroush

On the Differential Effects of Tight Money: A Reply pp. 955-58

William L Silber and Murray E Polakoff

Multidimensional Risk and the Modigliani-Miller Hypothesis: Comment pp. 959-62

Uri Ben-Zion

Multidimensional Risk and the Modigliani-Miller Hypothesis: A Reply pp. 963-64

Robert W Resek

Test of Portfolio Building Rules: Comment pp. 965-72

Pao L Cheng and M King Deets

Test of Portfolio Building Rules: Comment pp. 973-75

Irwin E Jones

A Test of Portfolio Building Rules: Reply pp. 976-81

Henry A Latane and William E Young

Volume 26, issue 3, 1971

Valuation and the Cost of Capital for Regulated Industries pp. 661-70

Edwin J Elton and Martin J Gruber

Price and Interest Rate Expectations and the Demand for Money in Canada pp. 671-82

Lawrence B Smith and John W L Winder

A Note on Financing Mergers with Convertible Preferred Stock pp. 683-85

C Ronald Sprecher

The Demand for Mortgage Loans and the Concomitant Demand for Home Loan Bank Advances by Savings and Loan Associations pp. 687-98

Thomas F Morrissey

An Evaluation of the Competitive Effect of FHLB Open Market Operations on Savings Inflows at Savings and Loan Associations pp. 699-712

Jene K Kwon and Richard M Thornton

The Demand for New York State Mutual Savings Bank Deposits: 1960-1969 pp. 713-18

Neil B Murphy

Disintermediation Through Policy Loans at Life Insurance Companies pp. 719-29

Francis H Schott

A Note on the Behavior of Expected Price/Earnings Ratios Over Time pp. 731-35

Alexander A Robichek and Marcus C Bogue

On the Theory of Financial Intermediation pp. 737-47

David H Pyle

The Negative Precautionary Demand for Money Reconsidered pp. 749-55

Stanley C Stevens

Two-Period Portfolio Selection and Investors' Discount Rates pp. 757-61

Haim Levy and Marshall Sarnat

Some Portfolio Adjustment Theorems for the Case of Non-Negativity Constraints on Security Holdings pp. 763-75

Michael W Jones-Lee

Leverage and the Cost of Capital in a Less Developed Capital Market: Comment pp. 777-82

Cherukuri U Rao and Robert H Litzenberger

Leverage and the Cost of Capital in a Less Developed Capital Market: Reply pp. 783-85

L V L N Sarma and K S Hanumanta Rao

Volume 26, issue 2, 1971

Domestic Expansion and External Responsibilities pp. 243-50

Paul Volcker

The Effect of the Business Cycle on Trade Flows of Industrial Countries pp. 251-68

F. Gerard Adams and Helen B Junz

Capital Movements Among Major OECD Countries: Some Preliminary Results pp. 269-86

William Branson and Hill, Raymond D,

The Welfare Economics of International Adjustment pp. 287-302

Thomas O Willett and Edward Tower

Balance of Payments Adjustment: Discussion pp. 303-05

Lawrence B Krause

Balance of Payments Adjustment: Discussion pp. 306-07

Donald R Hodgman

Balance of Payments Adjustment: Discussion pp. 308

Robert Stern

Lessons of the Penn Central Debacle: Discussion pp. 309

Peter L Bernstein

The Industrial Economics Background Of the Penn Central Bankruptcy pp. 311-26

J Fred Weston

The Penn Central Debacle: Lessons for Financial Analysis pp. 327-32

Roger F Murray

Railroad Bankruptcy Propensity pp. 333-45

Edward Altman

Towards a Theory of Financial Distress pp. 347-56

Myron J Gordon

Lessons of the Penn Central Debacle: Discussion pp. 359-60

William C Freund

Wealth Accumulation of Black and White Families: The Empirical Evidence pp. 363-77

Henry S Terrell

The Black Banks: An Assessment of Performance and Prospects pp. 379-405

Andrew F Brimmer

Black Banking-Problems and Prospects pp. 407-25

Edward D Irons

Housing the Underhoused in the Inner City pp. 427-44

Fred E Case

The Small Business Capital Gap: The Special Case of Minority Enterprise pp. 445-57

W J Garvin

Financial Constraints and Minority Economic Development: Discussion pp. 458-65

Marcus Alexis

Financial Constraints and Minority Economic Development: Discussion pp. 466-68

Robert Lindsay

Financial Constraints and Minority Economic Development: Discussion pp. 469-71

William G Grigsby

Dynamic Programming Applications in Finance pp. 473-506

Edwin J Elton and Martin J Gruber

Dividend Policy and New Equity Financing pp. 507-19

James C Van Horne and John G McDonald

A Pure Financial Rationale for the Conglomerate Merger pp. 521-37

Wilbur G Lewellen

Business Finance Issues: Discussion pp. 538-39

Stewart C Myers

Business Finance Issues: Discussion pp. 540-42

E F Brigham

Business Finance Issues: Discussion pp. 543-46

Robert C Higgins

Effects of Suboptimization on Urban Government Decision Making pp. 547-64

Donald C Shoup

On the Demise of the Social Discount Rate pp. 565-78

Harold M Somers

Evaluation of Government Expenditures: Discussion pp. 579-80

John F Due

Evaluation of Government Expenditures: Discussion pp. 581-83

Bernard P Herber

Financial Structure and Regulation: Some Knotty Problems pp. 585-97

Chase, Samuel B,

The Future Shape of Banking Regulation pp. 599-604

Carter H Golembe

A More Constructive Role for Deposit Insurance pp. 605-13

Kreps, Clifton H, and Richard F Wacht

Antitrust and Competitive Issues in United States Banking Structure pp. 615-46

Oscar R Goodman

Trends in Banking Structure and Regulation pp. 647-49

Lucille S Mayne

Trends in Banking Structure and Regulation: Discussion pp. 650-51

Charles Schotta

Volume 26, issue 1, 1971

On the Assessment of Risk pp. 1-10

Marshall E Blume

Portfolio Returns and the Random Walk Theory pp. 11-30

Pao L Cheng and M King Deets

The Relative Importance of Monetary and Fiscal Variables in Determining Price Level Movements: A Note pp. 31-37

Peter S Rose and Hunt, Lacy H,

Deposit Composition and Commercial Bank Earnings pp. 39-50

Richard E Bond

Investment Diversification and Bond Maturity pp. 51-66

Richard Roll

Uncertainty, Information and Investment Decisions pp. 67-82

R G E Smith

An Econometric Study of Euro-Dollar Borrowing by New York Banks and the Rate of Interest on Euro-Dollars pp. 83-88

Stanley Black

The Interdependence of International Equity Markets pp. 89-94

Herbert Grubel and Kenneth Fadner

Portfolio Analysis, Stock Valuation and Capital Budgeting Decision Rules for Risky Projects pp. 95-117

Richard C Stapleton

The Measurement of the Volatility of Common Stock Prices pp. 119-25

George E Pinches and Kinney, William R,

The Full-Employment Interest Rate and the Neutralized Money Stock: Comment pp. 127-36

Patric Hendershott

The Full Employment Interest Rate and the Neutralized Money Stock: Reply pp. 137-43

Dennis R Starleaf and James A Stephenson

Financing with Convertible Preferred Stock: Comment pp. 144-47

Ronald W Melicher

A Comment on Financing with Convertible Preferred Stock, 1960-1967 pp. 148-49

Jerry J Weygandt

Financing with Convertible Preferred Stock, 1960-1967: Reply pp. 150-51

George E Pinches

Tight Money as a Cause of Inflation: Comment pp. 152-55

John H Hotson

Tight Money as a Cause of Inflation: Reply pp. 156-58

George Horwich

A Note on Average Interest Charges on Bank Loans, The Loan Mix, and Measures of Competition pp. 159-64

John A Haslem and William A Longbrake

"Yale" and Money pp. 165-74

Karl Brunner