Journal of Finance

1946 - 2025

From American Finance Association
Contact information at EDIRC.
Bibliographic data for series maintained by Wiley Content Delivery ().

Access Statistics for this journal.
Is something missing from the series or not right? See the RePEc data check for the archive and series.

Volume 23, issue 5, 1968

THE DEMAND FOR MONEY BY FIRMS: EXTENSIONS OF ANALYTIC RESULTS pp. 735-759

Merton Miller and Daniel Orr

DIVERSIFICATION AND THE REDUCTION OF DISPERSION: AN EMPIRICAL ANALYSIS pp. 761-767

John L. Evans and Stephen H. Archer

COMMERCIAL BANK RESERVE MANAGEMENT IN A STOCHASTIC MODEL: IMPLICATIONS FOR MONETARY POLICY pp. 769-791

William Poole

AVERAGE INTEREST CHARGES, THE LOAN MIX, AND MEASURES OF COMPETITION: SIXTH FEDERAL RESERVE DISTRICT EXPERIENCE pp. 793-804

Charles T. Taylor

PORTFOLIO DISTRIBUTIONS AND TESTS OF SECURITY SELECTION MODELS pp. 805-819

William Breen and James Savage

THE OBJECTIVES OF BRITISH MONETARY POLICY, 1951–1964 pp. 821-831

Douglas Fisher

THE DETERMINANTS OF MEMBER BANK BORROWING: A CRITIQUE pp. 832-837

Dennis J. Aigner and William R. Bryan

THE DETERMINANTS OF MEMBER‐BANK BORROWING: A REPLY pp. 838-847

Stephen M. Goldfeld and Edward Kane

STATE OF THE FINANCE FIELD: FURTHER COMMENT pp. 848-852

David Durand

REPLY pp. 853-856

Gordon Pye

A NOTE ON THE LERNER‐CARLETON ANALYSIS pp. 857-861

Alan Nichols

REPLY pp. 862-864

Eugene M. Lerner and Willard T. Carleton

THE EFFECT OF SHARE REPURCHASE ON THE VALUE OF THE FIRM: SOME FURTHER COMMENTS pp. 865-869

Harold Bierman and Richard West

REPLY pp. 870-874

Edwin Elton and Martin Gruber

THE SUPPLY OF MONEY, INNOVATIONS, AND THE BUSINESS CYCLE IN JAPAN pp. 875-886

Takashi Negishi

FEDERAL RESERVE POLICY, 1955–58 pp. 887-888

Christopher L. Bach

THE EFFECT OF MERGERS AND ACQUISITIONS ON THE MARKET VALUE OF COMMON STOCK pp. 889-890

Stanley B. Block

TRADE‐CREDIT MANAGEMENT: SELECTION OF ACCOUNTS RECEIVABLE USING A STATISTICAL MODEL pp. 891-892

David C. Ewert

A PORTFOLIO MODEL OF CAPITAL BUDGETING UNDER RISK pp. 893-894

R. K. Harvey

THE THEORY AND PRACTICE OF NONPAR BANKING pp. 895-896

Paul F. Jessup

FINANCING CORPORATE MERGERS AND ACQUISITIONS WITH CONVERTIBLE PREFERRED STOCK pp. 897-898

George E. Pinches

RESTRICTIONS ON THE FORWARD EXCHANGE MARKET: IMPLICATIONS OF THE GOLD‐EXCHANGE STANDARD pp. 899-900

Eric Campbell Williams

Volume 23, issue 4, 1968

FINANCIAL RATIOS, DISCRIMINANT ANALYSIS AND THE PREDICTION OF CORPORATE BANKRUPTCY pp. 589-609

Edward Altman

NON‐CONVERTIBLE PREFERRED STOCK AS A FINANCING INSTRUMENT 1950–1965 pp. 611-624

Donald E. Fischer and Glenn A. Wilt

AN ECONOMETRIC MODEL OF THE IMPACT OF OPEN MARKET OPERATIONS ON VARIOUS BANK CLASSES pp. 625-637

Roy J. Ruffin

THE CAPITAL STRUCTURE AND THE COST OF CAPITAL: A SUGGESTED EXPOSITION pp. 639-653

Haim Ben‐Shahar

A NOTE ON INFLATION AND COMMON STOCK VALUES pp. 655-657

Donald Nichols

SOME VALUE‐ADDED TAX IMPACTS ON THE INTERNATIONAL COMPETITIVENESS OF PRODUCERS pp. 659-665

Richard W. Lindholm

ILLIQUIDITY AND THE LIMITS TO INTEREST ARBITRAGE pp. 667-669

J. Carter Murphy

ILLIQUIDITY AND THE LIMITS TO INTEREST ARBITRAGE: REPLY pp. 670-671

Jerome Stein

STATISTICAL TESTS OF THE KEYNESIAN DEMAND FUNCTION FOR MONEY: COMMENT pp. 672-673

Michael Hudson

COMMENT pp. 674-675

G. S. Laumas

REPLY pp. 676-678

Dennis R. Starleaf and Richard Reimer

THE CAPITAL ACCOUNT IN THE UNITED STATES BALANCE OF PAYMENTS pp. 679-680

William Branson

MEMBER‐BANK BORROWING FROM THE FEDERAL RESERVE BANK OF CHICAGO, 1951–1966 pp. 681-682

Jack Lee Cooper

THE ROLE OF MONEY IN THE INVESTMENT BOOM OF THE TWENTIES AND THE 1929 TURNING POINT pp. 683-684

Nancy S. Dorfman

SUBSIDIES TO INDUSTRY AND ALTERNATIVE POLICIES TO REDUCE REGIONAL UNEMPLOYMENT pp. 685-685

Ronald B. Gold

AN ANALYSIS OF THE USE OF COST‐OF‐CAPITAL CONCEPTS IN NATURAL‐GAS‐PIPELINE RATE REGULATION pp. 686-686

Richard A. Oppedahl

AN INVESTIGATION OF FACTORS ASSOCIATED WITH VARIATIONS IN THE RELATIVE IMPORTANCE OF COMMERCIAL‐BANK RESIDENTIAL REAL‐ESTATE LOANS pp. 687-688

Michael Palmer

COMMERCIAL‐BANK TIME DEPOSITS AND SOME OF THEIR IMPLICATIONS FOR FEDERAL RESERVE POLICY pp. 689-690

Richard E. Towey

THE DEMAND FOR CASH AND LIQUID ASSETS BY MANUFACTURING CORPORATIONS: ESTIMATES AND IMPLICATIONS pp. 691-692

Robert Cross Vogel

THE REAL‐BALANCE EFFECT: ASPECTS AND EVIDENCE pp. 693-694

Louis Zincone

Volume 23, issue 3, 1968

LEVERAGE, DIVERSIFICATION AND CAPITAL MARKET EFFECTS ON A RISK‐ADJUSTED CAPITAL BUDGETING FRAMEWORK pp. 427-443

Donald L. Tuttle and Robert H. Litzenberger

PREMIUMS ON CONVERTIBLE BONDS pp. 445-463

Roman L. Weil, Joel E. Segall and David Green

A FURTHER ANALYSIS OF THE OBJECTIVES OF AMERICAN MONETARY POLICY pp. 465-477

James W. Christian

CORPORATE PHILANTHROPIC CONTRIBUTIONS pp. 479-497

R. A. Schwartz

THE IDLE CASH BALANCES OF STATE AND LOCAL GOVERNMENTS: AN ECONOMIC PROBLEM OF NATIONAL CONCERN pp. 499-508

J. Richard Aronson

ANALYSIS OF VARIANCE TESTS FOR LOCAL TRENDS IN THE STANDARD AND POOR'S INDEX pp. 509-514

Joel Owen

THE SIGNIFICANCE OF DUMMY VARIABLES IN MULTIPLE REGRESSIONS INVOLVING FINANCIAL AND ECONOMIC DATA pp. 515-517

Keith C. Brown

SIGNIFICANCE OF DUMMY VARIABLES: REPLY pp. 518-519

Ronald F. Wippern

SHORT INTEREST: BULLISH OR BEARISH?—COMMENT pp. 520-523

Mark Hanna

SHORT INTEREST: BULLISH OR BEARISH? REPLY pp. 524-527

Joseph J. Seneca

A NOTE ON MERGER VALUATION pp. 528-534

Irwin H. Silberman

REPLY pp. 535-536

J. Feed Weston

MEMBER‐BANK BORROWING FROM THE RESERVE BANK: A MICRO‐ANALYTIC ANALYSIS pp. 537-537

George W. Betz

BANKS' DEMAND FOR EXCESS RESERVES pp. 538-539

Peter A. Frost

THE EFFECTS OF POPULATION GROWTH UPON THE FISCAL STRENGTH OF RESIDENTIAL SUBURBS pp. 540-541

David Forrest Gates

MONEY, GROWTH, AND THE BALANCE OF PAYMENTS pp. 542-543

Paul Graeser

OPTIMAL INVESTMENT AND CONSUMPTION STRATEGIES FOR A CLASS OF UTILITY FUNCTIONS pp. 544-545

Nils H. Hakansson

THE PROFITABILITY OF GROWTH THROUGH MERGERS pp. 546-547

Eamon M. Kelly

GOVERNMENT DEBT, INTERGENERATION WELFARE, AND ECONOMIC ACTIVITY pp. 548-549

David H. Kopf

THE EXISTENCE OF ECONOMIES OF STRUCTURE AND OF SCALE IN COMMERCIAL BANKING pp. 550-550

John A. Powers

CORPORATE DISCLOSURE THROUGH ANNUAL REPORTS IN THE UNITED STATES OF AMERICA AND INDIA pp. 551-552

Surendra Singh Singhvi

THE RESPONSE OF STATE AND LOCAL GOVERNMENTS TO FEDERAL GRANT‐IN‐AID PAYMENTS pp. 553-554

David L. Smith

Volume 23, issue 2, 1968

METROPOLITAN FISCAL DISPARITIES: THEIR NATURE AND DETERMINANTS pp. 229-250

Seymour Sacks

REVENUE SHARING: PRIORITIES AND POLICY INSTRUMENTS pp. 251-263

George F. Break

DISCUSSION pp. 264-265

Charles J. Goetz

COMPONENTS OF A MEASUREMENT MODEL: RATE OF RETURN, RISK, AND TIMING pp. 267-275

Peter O. Dietz

EVALUATION OF PROSPECTIVE INVESTMENT PERFORMANCE pp. 276-295

W. Scott Bauman

DISCUSSION pp. 296-301

G. Walter Woodworth and Alden C. Olson

ECONOMIC RATIONALE OF THE UNIFORM CONSUMER CREDIT CODE pp. 303-311

Robert W. Johnson

UNCONSCIONABLE CONDUCT AND THE UNIFORM CONSUMER CREDIT CODE pp. 312-319

Allison Dunham

DISCUSSION pp. 320-330

Roger S. Barrett, David I. Fand and Robert C. Mayer

PENSION FUNDS IN THE AMERICAN ECONOMY pp. 331-336

Roger F. Murray

CRITICAL EVALUATION OF PENSION PLANS pp. 337-343

William T. Gibb

DISCUSSION pp. 344-347

James A. Attwood

INSTITUTIONAL ASPECTS OF INTERREGIONAL MORTGAGE INVESTMENT pp. 349-358

Halbert C. Smith

PRIVATE SECONDARY MARKET FACILITIES pp. 359-366

Oliver Jones

SOME RELATIONSHIPS BETWEEN ASSETS AND LIABILITIES OF THRIFT INSTITUTIONS pp. 367-378

Sherman J. Maisel

DISCUSSION pp. 379-387

Richard T. Pratt and Preston Martin

THE PERFORMANCE OF MUTUAL FUNDS IN THE PERIOD 1945–1964 pp. 389-416

Michael Jensen

DISCUSSION pp. 417-419

Donald E. Farrar and Jack L. Treynor

Volume 23, issue 1, 1968

INTEGRATING THE REAL AND FINANCIAL VIA THE LINKAGE OF FINANCIAL FLOW pp. 1-27

Jacob Cohen

RISK, RETURN AND EQUILIBRIUM: SOME CLARIFYING COMMENTS pp. 29-40

Eugene F. Fama

RECENT DEVELOPMENT OF THE FINANCIAL SECTOR OF ECONOMETRIC MODELS pp. 41-66

Patric Hendershott

THE CONSENSUS AND ACCURACY OF SOME PREDICTIONS OF THE GROWTH OF CORPORATE EARNINGS pp. 67-84

J. G. Cragg and Burton G. Malkiel

LEVERAGE, DIVIDEND POLICY, AND THE COST OF CAPITAL pp. 85-103

Eugene F. Brigham and Myron J. Gordon

A TEST OF HAMMER'S DEMAND FOR PHYSICAL CAPITAL MODEL USING FIRM DATA pp. 105-111

J. Lawrence Hexter

AN EXTENSION OF THE BAUMOL‐TOBIN APPROACH TO THE TRANSACTIONS DEMAND FOR CASH pp. 113-134

Edward L. Whalen

THE EFFECT OF SHARE REPURCHASE ON THE VALUE OF THE FIRM pp. 135-149

Edwin Elton and Martin Gruber

A SIMPLE MODEL OF INFORMATION AND LENDING BEHAVIOR pp. 151-166

D. J. Aigner and C. M. Sprenkle

A STATISTICAL ANALYSIS OF THE RELATIVE PROFITABILITY OF COMMERCIAL BANKS pp. 167-176

John A. Haslem

PRICE CEILINGS AND CREDIT RATIONING pp. 177-185

Maurice B. Goudzwaard

ON MULTIPLE RATES OF RETURN pp. 187-191

William H. Jean

THE PREDICTION OF CORPORATE BANKRUPTCY: A DISCRIMINANT ANALYSIS pp. 193-194

Edward Altman

A STUDY OF BANK MERGERS IN MARION COUNTY, INDIANA, 1945 TO 1960 pp. 195-195

Peter W. Bacon

THE SAVING‐INVESTMENT PROCESS IN A THEORY OF FINANCE pp. 196-196

Joseph M. Burns

TOWARD A POSITIVE THEORY OF EQUITY VALUATION pp. 197-198

W. Michael Keenan

KOREAN MONETARY AND CREDIT POLICY: A STUDY OF FINANCIAL POLICY IN AN UNDERDEVELOPED COUNTRY pp. 199-200

Hyung K. Kim

THE DEMAND FOR FOREIGN SECURITIES AND INTERNATIONAL LONG‐TERM CAPITAL MOVEMENTS: THE UNITED STATES—CANADIAN CASE pp. 201-202

Chung H. Lee

SECURITIES, INTERMEDIARIES, AND CONSUMER THEORY pp. 203-204

Melvyn L. Meer

EFFECTS OF UNCERTAINTY ON THE VALUATION OF SECURITIES AND THE FINANCIAL DECISIONS OF THE FIRM pp. 205-206

Stewart Clay Myers

OPTIMAL ACCUMULATION AND TRADE IN AN OPEN ECONOMY pp. 207-207

Harl E. Ryder

THE STRUCTURE OF THE INDIVIDUAL INCOME TAX IN THE MAJOR INDUSTRIAL COUNTRIES: AN INTERNATIONAL COMPARISON pp. 208-209

Vito Tanzi