Journal of Finance

1946 - 2025

From American Finance Association
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Volume 20, issue 4, 1965

SECURITY PRICES, RISK, AND MAXIMAL GAINS FROM DIVERSIFICATION pp. 587-615

John Lintner

THE MARKET IMPACT OF THE SALE OF LARGE BLOCKS OF STOCK pp. 617-631

Harry G. Guthmann and Archie J. Bakay

INVESTMENT PERFORMANCE: COMMON STOCKS VERSUS APARTMENT HOUSES pp. 633-646

Paul F. Wendt and Sui N. Wong

PRICE EFFECTS IN RIGHTS OFFERINGS pp. 647-650

J. Russell Nelson

THE RESPONSE OF BANKS TO CHANGES IN AGGREGATE RESERVES pp. 651-664

C. Rangasajan and Alan K. Severn

TAX LAW, LOCK‐INS, AND BANK PORTFOLIO CHOICE pp. 665-677

William F. Beazer

THE BURDEN OF THE PUBLIC DEBT: A REVIEW ARTICLE pp. 679-682

James Tobin

ON MEASURING FISCAL POLICY pp. 683-690

Joseph Scherer

STIMULATING BANK COMPETITION: COMMENT pp. 691-692

A. Dale Tussing

PATTERNS OF BUSINESS FINANCING: SOME COMMENTS pp. 693-707

Eli Shapiro and William L. White

PATTERNS OF BUSINESS FINANCING: REPLY pp. 708-717

Arnold W. Sametz

INTEREST ON DEPOSITS OF COMMERCIAL BANKS IN THE UNITED STATES: A STUDY IN FINANCIAL REGULATION pp. 719-719

Albert H. Cox

EVALUATING THE INVESTMENT PERFORMANCE OF NONINSURED PENSION FUNDS pp. 720-721

Peter O. Dietz

COMPARATIVE INVESTMENT POLICY AND PERFORMANCE OF NATIONAL UNIONS' GENERAL AND SPECIAL FUNDS pp. 722-723

Thomas J. Kewley

FINANCIAL STATEMENTS OF LIFE INSURANCE COMPANIES pp. 724-725

Robert Hugh Raymond

STATE CENTRALIZED INVESTMENT PROCESS: STRUCTURE, CONTROLS, AND OPERATIONS pp. 726-727

Miles Tommeraasen

STUDENT CHAPTERS OF THE AMERICAN FINANCE ASSOCIATION pp. 779-780

Harold W. Stevenson

Volume 20, issue 3, 1965

PORTFOLIO SELECTION AND INVESTMENT PERFORMANCE pp. 391-415

Irwin Friend and Douglas Vickers

RISK‐AVERSION IN THE STOCK MARKET: SOME EMPIRICAL EVIDENCE pp. 416-422

William Sharpe

A CROSS‐SECTION STUDY OF BUSINESS DEMAND FOR CASH pp. 423-443

Edward L. Whalen

THE TERM STRUCTURE OF INTEREST RATES AND HOLDING‐PERIOD YIELDS ON GOVERNMENT SECURITIES pp. 444-463

Jacob B. Michaelsen

PREDICTING THE RESULTS OF PROXY CONTESTS pp. 464-471

Richard M. Duvall and Douglas V. Austin

CAPITAL BUDGETING, CIRCA 1915 pp. 472-479

George A. Wing

“IS THE FEDERAL RESERVE SYSTEM REALLY NECESSARY?”: COMMENT pp. 480-482

Harmon H. Haymes

FEDERAL RESERVE MEMBERSHIP AND DISCRIMINATION—A COMMENT pp. 483-484

James W. Leonard

“IS THE FEDERAL RESERVE SYSTEM REALLY NECESSARY?”: COMMENT pp. 485-485

George G. Kaufman

“IS THE FEDERAL RESERVE SYSTEM REALLY NECESSARY?”: REPLY pp. 486-489

Deane Carson

SHOULD FEDERAL RESERVE FLOAT BE ABOLISHED AND ITS CHECK ACTIVITIES CURTAILED? pp. 490-499

Irving Auerbach

AUERBACH'S DEFENSE OF DEFENSIVE OPERATIONS pp. 500-502

Karl Brunner and Allan Meltzer

“SHOULD FEDERAL RESERVE FLOAT BE ABOLISHED AND ITS CHECK ACTIVITIES CURTAILED?”: REPLY pp. 503-503

Deane Carson

COMMERCIAL BANK BEHAVIOR AND THE LEVEL OF ECONOMIC ACTIVITY: AN ECONOMETRIC STUDY pp. 504-504

Stephen M. Goldfeld

THE POSTWAR QUALITY OF MUNICIPAL BONDS pp. 505-506

George H. Hempel

AN ANALYSIS OF THE PERMANENT PRICE CHANGE ASSOCIATED WITH COMMON STOCK SPLITS pp. 507-508

Keith B. Johnson

REGULATION OF THE NEW YORK STATE CONSUMER FINANCE INDUSTRY pp. 509-510

Michael Kawaja

CITY EXPENDITURES AND METROPOLITAN AREAS: ANALYSIS OF INTERGOVERNMENTAL FISCAL SYSTEMS pp. 511-512

Woo Silk Kee

A COMPUTER SIMULATION USED TO EVALUATE ALTERNATIVE FINANCIAL STRATEGIES pp. 513-514

Robert R. McKenzie

LIQUIDITY PREFERENCE, INTEREST‐RATE RISK, AND THE TERM STRUCTURE OF INTEREST RATES pp. 515-516

James Van Horne

BANKING STRUCTURE AND BANK PERFORMANCE: A CASE STUDY OF THREE SMALL MARKET AREAS pp. 517-518

Richard S. Wallace

Volume 20, issue 2, 1965

INTRODUCTION pp. 171-171

George Garvy

THE CHANGING ROLE OF U.S. BANKS IN INTERNATIONAL FINANCING pp. 172-181

George H. Chittenden

THE INTERNATIONAL MONEY MARKET: STRUCTURE, SCOPE AND INSTRUMENTS pp. 182-208

Fred H. Klopstock

THE INTEGRATION OF EUROPEAN CAPITAL MARKETS pp. 209-221

Oscar L. Altman

DISCUSSION pp. 222-228

John H. Auten and Norris O. Johnson

STRUCTURAL CHANGES IN MONEY MARKETS THE CHANGING STRUCTURE OF THE MONEY MARKET pp. 229-238

Robert W. Stone

DISCUSSION pp. 239-246

Ernest Bloch and Robert H. Beth

INDIVIDUAL INCOME TAX PROVISIONS OF THE REVENUE ACT OF 1964 pp. 247-272

Joseph A. Pechman

BUSINESS TAX PROVISIONS OF THE 1962 AND 1964 ACTS pp. 273-291

Daniel M. Holland

DISCUSSION pp. 292-297

Melvin I. White and E. Gordon Keith

THE EFFECT OF CONCENTRATION ON BANK LOAN RATES pp. 298-311

Theodore G. Flechsig

BRANCH BANKING AND ECONOMIES OF SCALE pp. 312-331

George J. Benston

THE INTERACTION EFFECTS OF RESTRICTIONS ON BRANCHING AND OTHER BANK REGULATIONS pp. 332-348

Donald P. Jacobs

BANKING STRUCTURE AND COMPETITION pp. 349-357

Howard D. Crosse

LIFE INSURANCE COMPANIES AND THE EQUITY CAPITAL MARKETS pp. 358-367

Orson H. Hart

THE CHANGING ROLE OF BANKS IN THE MARKET FOR EQUITIES pp. 368-378

A. James Meigs

DISCUSSION pp. 379-383

Roland I. Robinson and Sidney Cottle

BUSINESS PROCEEDINGS, AMERICAN FINANCE ASSOCIATION; REPORTS OF THE SECRETARY‐TREASURER AND EDITOR pp. 384-389

Robert A. Kavesh and Lawrence S. Ritter

Volume 20, issue 1, 1965

STIMULATING BANK COMPETITION THROUGH REGULATORY ACTION pp. 1-13

Paul M. Horvitz

FINANCIAL FLOWS IN RECENT BUSINESS CYCLES pp. 14-35

Sue N. Atkinson

THE VALUE OF PENSION PROMISES AND CONSUMER WEALTH pp. 36-48

Walter Williams

SOME CHARACTERISTICS OF TREASURY BILL DEALERS IN THE AUCTION MARKET pp. 49-58

Michael Rieber

FACTORS DETERMINING BANK DEPOSIT GROWTH BY STATE: AN EMPIRICAL ANALYSIS pp. 59-70

Bruce C. Cohen and George G. Kaufman

BUDGET BALANCE AND EQUILIBRIUM INCOME pp. 71-77

David J. Ott and Attiat F. Ott

HIGHER INTEREST RATES ON TIME DEPOSITS: COMMENT pp. 78-85

Charlotte H. Scott

HIGHER INTEREST RATES ON TIME DEPOSITS: REPLY pp. 86-88

H. Peter Gray

ON CAPITAL ASSET PRICES: COMMENT pp. 89-93

G. O. Bierwag and M. A. Grove

REPLY pp. 94-95

William Sharpe

AN EMPIRICAL ANALYSIS OF COMMERCIAL BANK LENDING BEHAVIOR pp. 96-97

Stanley Besen

MEASURING PERIOD PROFITABILITY: BOOK YIELD VERSUS TRUE YIELD pp. 98-98

Robert Scott Carlson

THE EFFECT OF FEDERAL RESERVE POLICY ON THE CYCLICAL MOVEMENT OF THE MONEY SUPPLY pp. 99-100

Joseph L. Craycraft

CONCENTRATION AND COMPETITION IN COMMERCIAL BANKING: A STATISTICAL STUDY pp. 101-102

Franklin R. Edwards

BANKING STRUCTURE AND COSTS: A STATISTICAL STUDY OF THE COST‐OUTPUT RELATIONSHIP IN COMMERCIAL BANKING pp. 103-104

Stuart I. Greenbaum

ARREARAGES ON CUMULATIVE PREFERRED STOCKS LISTED ON THE NEW YORK STOCK EXCHANGE: AN ANALYSIS OF EXPERIENCE, 1935–62 pp. 105-106

Ronald M. Horwitz

FINANCIAL DETERMINANTS OF MANUFACTURING INVENTORY BEHAVIOR—A QUARTERLY STUDY BASED ON UNITED STATES ESTIMATES: 1947–61 pp. 107-108

Paul W. Kuznets

DECISION‐MAKING IN BRITISH MONETARY POLICY, WITH IMPLICATIONS FOR THE UNITED STATES pp. 109-110

Jonas Prager

SEASONAL MOVEMENTS IN THE FLOW OF FUNDS pp. 111-112

George J. Viksnins