Journal of Finance

1946 - 2025

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Volume 19, issue S2, 1964

PREFACE pp. v-v

Roger F. Murray

Volume 19, issue 4, 1964

SECURITY AND INVESTMENT: THEORY AND EVIDENCE pp. 607-618

Myron J. Gordon

THE REAL BALANCE EFFECT IN THE UNITED STATES, 1947–1963 pp. 619-630

Chakles Schotta

COMMERCIAL BANK PRICE DISCRIMINATION AGAINST SMALL LOANS: AN EMPIRICAL STUDY pp. 631-643

George J. Benston

GOVERNMENT SECURITIES HOLDINGS OF SELECTED FINANCIAL INTERMEDIARIES, 1954–1962 pp. 644-651

Alan D. Entine

IS THE FEDERAL RESERVE SYSTEM REALLY NECESSARY? pp. 652-661

Deane Carson

MONETARY HISTORY AND MONETARY POLICY: A REVIEW ARTICLE pp. 662-667

Herman E. Krooss

A CONTRIBUTION TO THE THEORY OF CAPITAL BUDGETING—THE MULTI‐INVESTMENT CASE: A COMMENT pp. 668-670

Eli Schwartz

REPLY pp. 671-672

Pao L. Cheng and John P. Shelton

RATES OF RETURN ON CONSUMER DURABLES pp. 673-677

J. V. Poapst and W. R. WaterS

ANOTHER VIEW OF FORMULA PLANNING pp. 678-688

Robert R. Dince

A DECISION MODEL FOR INVENTORY MANAGEMENT pp. 689-690

Nachman Benchkovsky

THE COST OF EXTERNAL COMMON STOCK EQUITY CAPITAL FOR SMALL BUSINESS: AN EMPIRICAL STUDY OF NEW COMMON STOCK OFFERINGS pp. 691-692

LeRoy Geoege Faerber

THE ROLE OF PREFERRED STOCK IN ELECTRIC UTILITY FINANCING pp. 693-694

Donald E. Fischer

FEDERAL REGULATION OF BANK HOLDING COMPANIES pp. 695-696

James H. Hugon

THE FORECASTING PROPERTIES OF INSIDERS' TRANSACTIONS pp. 697-698

Donald L. Rogoff

EARNINGS VARIABILITY, FINANCIAL STRUCTURE AND THE VALUE OF THE FIRM pp. 699-700

Ronald Frank Wippeen

Volume 19, issue 3, 1964

CAPITAL ASSET PRICES: A THEORY OF MARKET EQUILIBRIUM UNDER CONDITIONS OF RISK pp. 425-442

William Sharpe

SOME RECENT CHANGES IN THE EURO‐DOLLAR SYSTEM pp. 443-449

Paul Einzig

TRENDS IN THE VOLUME AND COMPOSITION OF EQUITY FINANCE pp. 450-469

Arnold W. Sametz

THE AUCTION OF LONG‐TERM GOVERNMENT SECURITIES pp. 470-482

Robert E. Berney

COMPENSATING‐BALANCE REQUIREMENTS: THE RESULTS OF A SURVEY pp. 483-496

Nevins D. Baxter and Harold T. Shapiro

THE COMMISSION ON MONEY AND CREDIT'S RESEARCH STUDIES: A COLLECTIVE REVIEW ARTICLE pp. 497-533

David A. Alhadeff, Peter L. Bernstein, Colin D. Campbell, Lester V. Chandler, Edward C. Ettin, Victor R. Farhi, Jack M. Guttentag, Henry A. Latané and Kenyon E. Poole

OPEN MARKET OPERATIONS AND RESERVE SETTLEMENT PERIODS: A PROPOSED EXPERIMENT pp. 534-539

Albert H. Cox and Ralph F. Leach

MEMBER BANK RESERVE SETTLEMENT PERIODS: A FURTHER COMMENT pp. 540-543

Peter D. Sternlight

THE IMPLICATIONS OF TRIANGULAR ARBITRAGE FOR FORWARD EXCHANGE POLICY pp. 544-551

Henry N. Goldstein

TRIANGULAR ARBITRAGE AND FORWARD EXCHANGE POLICY: REPLY pp. 552-554

Herbert Grubel

THE IMPACT ON THE STRENGTH OF MONETARY CONTROLS OF ASSET SHIFTS INVOLVING INTERMEDIARY CLAIMS pp. 555-556

Arthur Benavie

MONETARY CONTROL AND THE DISTRIBUTION OF MONEY pp. 557-557

William G. Dewald

AN EXAMINATION OF THE INFLUENCE OF DEPOSIT BEHAVIOR ON THE PERFORMANCE OF COMMERCIAL BANKS' ASSETS pp. 558-559

Clair Neil McRostie

THE INTEREST ELASTICITY OF THE RATIO OF FIXED INVESTMENT TO NATIONAL INCOME AS ESTIMATED FROM ENGINEERING PAYOUT STUDIES pp. 560-561

Mark Liddell Wehle

Volume 19, issue 2, 1964

LIQUIDITY AS A DETERMINANT OF INDUSTRIAL PRICES AND INTEREST RATES pp. 159-169

Alan Greenspan

ON THE USE OF TIME SERIES ANALYSIS FOR FINANCIAL PREDICTION pp. 170-185

W. Giles Mellon

THE CONCEPT OF YIELD ON COMMON STOCK pp. 186-198

Robert Ortner

DISCUSSION pp. 199-204

Ernest Bloch and Paul H. Cootner

THE PRICE OF NEW AUTOMOBILE FINANCING pp. 205-221

Robert P. Shay

CONSUMER SENSITIVITY TO THE PRICE OF CREDIT pp. 222-233

F. Juster

DISCUSSION pp. 234-239

Tynan Smith and Robert W. Johnson

SOME FURTHER INVESTIGATIONS OF DEMAND AND SUPPLY FUNCTIONS FOR MONEY pp. 240-283

Karl Brunner and Allan Meltzer

A STRUCTURAL APPROACH TO THE IMPACT OF MONETARY POLICY pp. 284-308

Ronald L. Teigen

DISCUSSION pp. 309-312

Carl Christ and Donald D. Hester

CHANGING CHARACTER OF THE REAL ESTATE MORTGAGE MARKETS pp. 313-320

Edward E. Edwards

DISCUSSION pp. 321-333

Richard W. Baker, Leon T. Kendall, Walter C. Nelson, J. Charles Partee, David Fritz and Harry S. Schwartz

THE EFFECT OF THE CORPORATE FINANCIAL PLAN ON THE CORPORATE RISK MANAGEMENT PROGRAM pp. 334-339

W. B. Smith

MODIFYING THE BUSINESS FINANCIAL PLAN TO REDUCE STATIC RISK MANAGEMENT COSTS pp. 340-348

Bob. A. Hedges

DISCUSSION pp. 349-352

Bion B. Howard and Robert A. Rennie

THE FISCAL POLICY OF THE KENNEDY‐JOHNSON ADMINISTRATION pp. 353-369

Neil H. Jacoby

WHITHER STATE AND LOCAL FINANCE? pp. 370-381

L. L. Ecker‐Racz

DISCUSSION pp. 382-395

Harvey E. Brazer, Jesse Burkhead, Beryl W. Sprinkel and Lynn A. Stiles

THE OUTLOOK FOR CORPORATE BONDS IN 1964 pp. 396-402

Thomas R. Atkinson

THE OUTLOOK FOR FISCAL, MONETARY AND DEBT MANAGEMENT POLICIES pp. 403-410

John J. Balles

THE MORTGAGE MARKET pp. 411-416

Oliver H. Jones

THE MARKET FOR EQUITIES pp. 417-419

Roger F. Murray

Minutes of the Annual Membership Meeting December 28, 1963 pp. 420-423

Robert A. Kavesh

Volume 19, issue 1, 1964

BALANCE OF PAYMENTS ADJUSTMENT AND INTERNATIONAL LIQUIDITY pp. 1-15

Robert V. Roosa

A CASH‐FLOW CONCEPT OF PROFIT pp. 16-31

Diran Bodenhorn

COMPETITION, CONFUSION, AND COMMERCIAL BANKING pp. 32-45

Almarin Phillips

INVESTOR EXPERIENCE IN CORPORATE SECURITIES: A NEW TECHNIQUE FOR MEASUREMENT pp. 46-62

John P. Herzog

SOME EVIDENCE ON TWO IMPLICATIONS OF HIGHER INTEREST‐RATES ON TIME DEPOSITS pp. 63-75

H. Peter Gray

DEFENSIVE OPEN MARKET OPERATIONS AND THE RESERVE SETTLEMENT PERIODS OF MEMBER BANKS pp. 76-93

Albert H. Cox and Ralph F. Leach

RESERVE SETTLEMENT PERIODS OF MEMBER BANKS: COMMENT pp. 94-98

Peter D. Sternlight

A PEDAGOGIC NOTE ON THE COST OF CAPITAL pp. 99-106

A. James Boness

THE CAUSES OF PROXY CONTESTS: AN EMPIRICAL STUDY, 1956–60 pp. 107-108

Douglas Victor Austin

UNIONS AND PENSION FUNDS pp. 109-110

H. Robert Bartell

THE COST OF BANKING OPERATIONS: A STATISTICAL STUDY pp. 111-112

George J. Benston

THE SWISS MONEY MARKET pp. 113-114

Jerry T. Bigosinski

INVESTOR PREFERENCE AND THE STRUCTURE OF INTEREST RATES IN THE U.S. GOVERNMENT SECURITIES MARKET, 1953–1961 pp. 115-115

David A. Bowers

THE DEMAND FOR LIQUID ASSETS: A TEMPORAL CROSS‐SECTION ANALYSIS pp. 116-117

Edgar Feige

INCOME VELOCITY AND MONETARY POLICIES IN THE UNITED STATES, 1951–1960 pp. 118-119

Bruce T. McKim

RISK AND THE CAPITAL STRUCTURE OF THE FIRM pp. 120-121

Harold Petersen

THE FEDERAL RESERVE SYSTEM'S “BILLS ONLY” POLICY pp. 122-123

William Eli Whitesell