Journal of Finance

1946 - 2025

From American Finance Association
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Volume 72, issue 6, 2017

The Macroeconomics of Shadow Banking pp. 2381-2432

Alan Moreira and Alexi Savov

Consumer Ruthlessness and Mortgage Default during the 2007 to 2009 Housing Bust pp. 2433-2466

Neil Bhutta, Jane Dokko and Hui Shan

Matching Capital and Labor pp. 2467-2504

Jonathan B. Berk, Jules van Binsbergen and Binying Liu

Why Do Investors Hold Socially Responsible Mutual Funds? pp. 2505-2550

Arno Riedl and Paul Smeets

How Do Quasi†Random Option Grants Affect CEO Risk†Taking? pp. 2551-2588

Kelly Shue and Richard R. Townsend

Are CDS Auctions Biased and Inefficient? pp. 2589-2628

Songzi Du and Haoxiang Zhu

Commodity Trade and the Carry Trade: A Tale of Two Countries pp. 2629-2684

Robert Ready, Nikolai Roussanov and Colin Ward

Financial Transaction Taxes, Market Composition, and Liquidity pp. 2685-2716

Jean-Edouard Colliard and Peter Hoffmann

Why Does Return Predictability Concentrate in Bad Times? pp. 2717-2758

Julien Cujean and Michael Hasler

Nonfundamental Speculation Revisited pp. 2759-2772

Liyan Yang and Haoxiang Zhu

American Finance Association pp. 2889-2889

David Hirshleifer

Volume 72, issue 5, 2017

The Front Men of Wall Street: The Role of CDO Collateral Managers in the CDO Boom and Bust pp. 1893-1936

Sergey Chernenko

The Downside of Asset Screening for Market Liquidity pp. 1937-1982

Victoria Vanasco

Benchmarks in Search Markets pp. 1983-2044

Darrell Duffie, Piotr Dworczak and Haoxiang Zhu

What Drives the Cross-Section of Credit Spreads?: A Variance Decomposition Approach pp. 2045-2072

Yoshio Nozawa

Income Insurance and the Equilibrium Term Structure of Equity pp. 2073-2130

Roberto Marfe

A Labor Capital Asset Pricing Model pp. 2131-2178

Lars-Alexander Kuehn, Mikhail Simutin and Jessie Wang

Firm Investment and Stakeholder Choices: A Top-Down Theory of Capital Budgeting pp. 2179-2228

Andres Almazan, Zhaohui Chen and Sheridan Titman

On the Origins of Risk-Taking in Financial Markets pp. 2229-2278

Sandra Black, Paul Devereux, Petter Lundborg and Kaveh Majlesi

Do Cash Flows of Growth Stocks Really Grow Faster? pp. 2279-2330

Huafeng (jason) Chen

Consumer Default, Credit Reporting, and Borrowing Constraints pp. 2331-2368

Mark J. Garmaise and Gabriel Natividad

Volume 72, issue 4, 2017

Presidential Address: The Scientific Outlook in Financial Economics pp. 1399-1440

Campbell Harvey

Retail Financial Advice: Does One Size Fit All? pp. 1441-1482

Stephen Foerster, Juhani T. Linnainmaa, Brian Melzer and Alessandro Previtero

Do Funds Make More When They Trade More? pp. 1483-1528

Lubos Pastor, Robert Stambaugh and Lucian A. Taylor

Term Structure of Consumption Risk Premia in the Cross Section of Currency Returns pp. 1529-1566

Irina Zviadadze

Trader Leverage and Liquidity pp. 1567-1610

Bige Kahraman and Heather E. Tookes

Volatility-Managed Portfolios pp. 1611-1644

Alan Moreira and Tyler Muir

Advance Refundings of Municipal Bonds pp. 1645-1682

Andrew Ang, Richard Green, Francis A. Longstaff and Yuhang Xing

Municipal Bond Liquidity and Default Risk pp. 1683-1722

Michael Schwert

Selling Failed Banks pp. 1723-1784

João Granja, Gregor Matvos and Amit Seru

Social Capital, Trust, and Firm Performance: The Value of Corporate Social Responsibility during the Financial Crisis pp. 1785-1824

Karl Lins, Henri Servaes and Ane Tamayo

Capital Account Liberalization and Aggregate Productivity: The Role of Firm Capital Allocation pp. 1825-1858

Mauricio Larrain and Sebastian Stumpner

Report of the Editor of the Journal of Finance for the Year 2016 pp. 1859-1874

Stefan Nagel

Volume 72, issue 3, 2017

The Flash Crash: High-Frequency Trading in an Electronic Market pp. 967-998

Andrei Kirilenko, Albert S. Kyle, Mehrdad Samadi and Tugkan Tuzun

Firm Age, Investment Opportunities, and Job Creation pp. 999-1038

Manuel Adelino, Song Ma and David Robinson

Finance and Growth at the Firm Level: Evidence from SBA Loans pp. 1039-1080

J. David Brown and John Earle

Forced Asset Sales and the Concentration of Outstanding Debt: Evidence from the Mortgage Market pp. 1081-1118

Giovanni Favara and Mariassunta Giannetti

Liquidity in a Market for Unique Assets: Specified Pool and To-Be-Announced Trading in the Mortgage-Backed Securities Market pp. 1119-1170

Pengjie Gao, Paul Schultz and Zhaogang Song

The Effect of Housing on Portfolio Choice pp. 1171-1212

Raj Chetty, László Sándor and Adam Szeidl

Exchange Rates and Monetary Policy Uncertainty pp. 1213-1252

Philippe Mueller, Alireza Tahbaz-Salehi and Andrea Vedolin

Correlated Default and Financial Intermediation pp. 1253-1284

Gregory Phelan

Does the Scope of the Sell-Side Analyst Industry Matter? An Examination of Bias, Accuracy, and Information Content of Analyst Reports pp. 1285-1334

Kenneth Merkley, Roni Michaely and Joseph Pacelli

Short-Term Market Risks Implied by Weekly Options pp. 1335-1386

Torben Andersen, Nicola Fusari and Viktor Todorov

Volume 72, issue 2, 2017

Attracting Early-Stage Investors: Evidence from a Randomized Field Experiment pp. 509-538

Shai Bernstein, Arthur Korteweg and Kevin Laws

Politically Connected Private Equity and Employment pp. 539-574

Mara Faccio and Hung-Chia Hsu

Mortgage Debt Overhang: Reduced Investment by Homeowners at Risk of Default pp. 575-612

Brian Melzer

Bank Leverage and Monetary Policy's Risk-Taking Channel: Evidence from the United States pp. 613-654

Giovanni Dell'ariccia, Luc Laeven and Gustavo A. Suarez

Linear-Rational Term Structure Models pp. 655-704

Damir Filipović, Martin Larsson and Anders B. Trolle

Asset Market Participation and Portfolio Choice over the Life-Cycle pp. 705-750

Andreas Fagereng, Charles Gottlieb and Luigi Guiso

Before an Analyst Becomes an Analyst: Does Industry Experience Matter? pp. 751-792

Daniel Bradley, Sinan Gokkaya and Xi Liu

Precautionary Savings with Risky Assets: When Cash Is Not Cash pp. 793-852

Ran Duchin, Thomas Gilbert, Jarrad Harford and Christopher Hrdlicka

On the Foundations of Corporate Social Responsibility pp. 853-910

Hao Liang and Luc Renneboog

Reverse Mortgage Loans: A Quantitative Analysis pp. 911-950

Makoto Nakajima and Irina Telyukova

Volume 72, issue 1, 2017

Who Are the Value and Growth Investors? pp. 5-46

Sebastien Betermier, Laurent Calvet and Paolo Sodini

Asset Pricing without Garbage pp. 47-98

Tim Kroencke

Housing Collateral and Entrepreneurship pp. 99-132

Martin Schmalz, David Sraer and David Thesmar

Formative Experiences and Portfolio Choice: Evidence from the Finnish Great Depression pp. 133-166

Samuli Knüpfer, Elias Rantapuska and Matti Sarvimäki

What Doesn't Kill You Will Only Make You More Risk-Loving: Early-Life Disasters and CEO Behavior pp. 167-206

Gennaro Bernile, Vineet Bhagwat and Raghavendra Rau

Resident Networks and Corporate Connections: Evidence from World War II Internment Camps pp. 207-248

Lauren Cohen, Umit Gurun and Christopher Malloy

The Real Effects of Credit Ratings: The Sovereign Ceiling Channel pp. 249-290

Heitor Almeida, Igor Cunha, Miguel Ferreira and Felipe Restrepo

Financial Contracting and Organizational Form: Evidence from the Regulation of Trade Credit pp. 291-324

Emily Breza and Andres Liberman

Local Risk, Local Factors, and Asset Prices pp. 325-370

Selale Tuzel and Miao Ben Zhang

Buyout Activity: The Impact of Aggregate Discount Rates pp. 371-414

Valentin Haddad, Erik Loualiche and Matthew Plosser

Asset Pricing with Countercyclical Household Consumption Risk pp. 415-460

George Constantinides and Anisha Ghosh

Ex-Dividend Profitability and Institutional Trading Skill pp. 461-494

Tyler R. Henry and Jennifer Koski