Journal of Financial Research

1978 - 2025

Current editor(s): Jayant Kale and Gerald Gay

From:
Southern Finance Association
Contact information at EDIRC.
Southwestern Finance Association
Contact information at EDIRC.
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Volume 16, issue 4, 1993

A NOTE FROM THE EDITORS pp. ii-ii

Robert Hansen and Arthur J. Keown

DUAL BETAS FROM BULL AND BEAR MARKETS: REVERSAL OF THE SIZE EFFECT pp. 269-283

Ravinder K. Bhardwaj and LeRoy D. Brooks

INTRADAY TRADING PATTERNS IN THE EQUITY OPTIONS MARKETS pp. 285-297

Raj Aggarwal and Edward Gruca

Golden Parachutes: Incentive Aligners, Management Entrenchers, or Takeover Bid Signals? pp. 299-308

Jeffery A. Born, Emery A. Trahan and Hugo J. Faria

THE DEBT MATURITY CHOICE: AN EMPIRICAL INVESTIGATION pp. 309-320

Karlyn Mitchell

THE FINANCING AND INVESTMENT OF A LEVERED FIRM UNDER ASYMMETRIC INFORMATION pp. 321-336

Steven Raymar

MEAN AND VOLATILITY SPILLOVERS ACROSS MAJOR NATIONAL STOCK MARKETS: FURTHER EMPIRICAL EVIDENCE pp. 337-350

Panayiotis Theodossiou and Unro Lee

THE EFFECTS OF OVERPAYMENT AND FORM OF FINANCING ON BIDDER RETURNS IN MERGERS AND TENDER OFFERS pp. 351-365

Hyun Mo Sung

ON IMPROVING THE PERFORMANCE OF THE MARKET MODEL pp. 367-376

Ashok J. Robin

TAX-LOSS SELLING, INSTITUTIONAL INVESTORS, AND THE JANUARY EFFECT: A NOTE pp. 377-384

Stan Eakins and Susan Sewell

Volume 16, issue 3, 1993

FIRM PERFORMANCE AND SECURITY TYPE IN SEASONED OFFERINGS: AN EMPIRICAL EXAMINATION OF ALTERNATIVE SIGNALING MODELS pp. 181-192

Ajay Patel, Douglas R. Emery and Yul W. Lee

INFORMATIONAL VERSUS PRICE-PRESSURE EFFECTS: EVIDENCE FROM SECONDARY OFFERINGS pp. 193-207

Carl D. Hudson, Marlin R. H. Jensen and William N. Pugh

SECURITY RETURN DISTRIBUTIONS AND MARKET STRUCTURE: EVIDENCE FROM THE NYSE/AMEX AND THE NASDAQ MARKETS pp. 209-220

Raj Aggarwal and Reena Aggarwal

UNLISTED TRADING PRIVILEGES, LIQUIDITY, AND STOCK RETURNS pp. 221-236

Walayet A. Khan and H. Kent Baker

TRADE SIZES AND THEORIES OF THE BID-ASK SPREAD pp. 237-249

Paul A. Laux

A TEST OF THE EASTERBROOK HYPOTHESIS REGARDING DIVIDEND PAYMENTS AND AGENCY COSTS pp. 251-260

Jeffery A. Born and James N. Rimbey

A RE-EXAMINATION OF THE PROXY HYPOTHESIS pp. 261-268

Y. Angela Liu, L. Paul Hsueh and Ronnie J. Clayton

Volume 16, issue 2, 1993

VARIANCE BOUND TESTS OF BOND MARKET EFFICIENCY pp. 89-106

Chao-Hsi Huang and Louis H. Ederington

INTRADAY MARKET BEHAVIOR AND THE EXTENT OF FEEDBACK BETWEEN S&P 500 FUTURES PRICES AND THE S&P 500 INDEX pp. 107-121

Ira G. Kawaller, Paul D. Koch and Timothy W. Koch

DID BLACK MONDAY HAVE A PERMANENT EFFECT? pp. 123-138

Robert L. Albert, Timothy R. Smaby and Steve B. Wyatt

CONSIDERING DIVIDEND STABILITY IN THE RELATION BETWEEN DIVIDEND YIELDS AND STOCK RETURNS pp. 139-150

Michael J. Gombola and Feng-Ying Liu

CONSISTENT ESTIMATION OF RESIDUAL VARIANCE IN REGULATORY EVENT STUDIES pp. 151-160

Marcus A. Ingram and Virginia C. Ingram

THE EFFECTS OF THE INSIDER TRADING SANCTIONS ACT OF 1984: THE CASE OF SEASONED EQUITY OFFERINGS pp. 161-170

Thomas H. Eyssell and James P. Reburn

A NOTE ON THE VALUE LINE STOCK HIGHLIGHT EFFECT pp. 171-179

P. R. Chandy, John W. Peavy and William Reichenstein

Volume 16, issue 1, 1993

PREPAYMENT RISK AND THE DURATION OF DEFAULT‐FREE MORTGAGE‐BACKED SECURITIES pp. 1-9

Gary A. Anderson, Joel R. Barber and Chun‐Hao Chang

VALUATION EFFECT OF ISSUING NONSUBORDINATED VERSUS SUBORDINATED DEBT pp. 11-21

Alex P. Tang and Ronald F. Singer

OPTIMAL BOND CALL POLICIES UNDER TRANSACTIONS COSTS pp. 23-37

David C. Mauer

DUTCH AUCTION VERSUS FIXED‐PRICE SELF‐TENDER OFFERS: DO FIRMS OVERPAY IN FIXED‐PRICE OFFERS? pp. 39-48

David R. Peterson and Pamela P. Peterson

INSIDERS, OUTSIDERS, OR TREND CHASERS?: AN INVESTIGATION OF PRE‐TAKEOVER TRANSACTIONS IN THE SHARES OF TARGET FIRMS pp. 49-59

Thomas H. Eyssell and Nasser Arshadi

TWENTY‐FIVE YEARS OF TAX LAW CHANGES AND INVESTOR RESPONSE pp. 61-70

David Lynn Skinner

AN IMPLICIT MEASURE OF THE EFFECTIVE BID‐ASK SPREAD: A NOTE pp. 71-75

Carolyn W. Chang and Jack S. K. Chang

THE COSTS OF EQUITY ISSUES SINCE RULE 415: A CLOSER LOOK pp. 77-88

David J. Denis

Volume 15, issue 4, 1992

DIVISION MANAGEMENT BUYOUTS OF UNRELATED DIVISIONS WITHOUT A SALES PRICE REPORTED pp. 297-305

Rodney L. Roenfeldt, Neil W. Sicherman and Jack W. Trifts

QUALITY DISPERSION AND THE FEASIBILITY OF DIVIDENDS AS SIGNALS pp. 307-315

Ricardo J. Rodriguez

EFFECTS OF AGENCY AND TRANSACTION COSTS ON DIVIDEND PAYOUT RATIOS: FURTHER EVIDENCE OF THE AGENCY-TRANSACTION COST HYPOTHESIS pp. 317-321

Stephen J. Dempsey and Gene Laber

EQUITY ISSUES AND TOBIN'S Q: NEW EVIDENCE REGARDING ALTERNATIVE INFORMATION RELEASE HYPOTHESES pp. 323-339

Peter A. Brous and Omesh Kini

UNDERWRITER REPUTATION AND REPETITIVE PUBLIC OFFERINGS pp. 341-354

Richard B. Carter

HEDGING INTEREST RATE RISK UNDER TERM STRUCTURE EFFECTS: AN APPLICATION TO FINANCIAL INSTITUTIONS pp. 355-368

Jimmy E. Hilliard and Susan D. Jordan

FILTER RULE TESTS OF THE ECONOMIC SIGNIFICANCE OF SERIAL DEPENDENCIES IN DAILY STOCK RETURNS pp. 369-387

Charles Corrado and Suk-Hun Lee

Volume 15, issue 3, 1992

A FURTHER UNDERSTANDING OF STOCK DISTRIBUTIONS: THE CASE OF REVERSE STOCK SPLITS pp. 189-205

David R. Peterson and Pamela P. Peterson

STOCK PRICE REACTIONS TO DIVIDEND AND EARNINGS ANNOUNCEMENTS: CONTEMPORANEOUS VERSUS NONCONTEMPORANEOUS ANNOUNCEMENTS pp. 207-217

Albert Eddy and Bruce Seifert

AN EMPIRICAL TEST OF THE TIMING OF BOND-REFUNDING DECISIONS pp. 219-230

Janet S. Thatcher and John G. Thatcher

PRICING NIKKEI PUT WARRANTS: SOME EMPIRICAL EVIDENCE pp. 231-251

K. C. Chen, R. Stephen Sears and Manuchehr Shahrokhi

THE ANALYTICS OF RELATIVE HOLDING-PERIOD RISKS FOR BONDS pp. 253-263

Duane Stock

INTRADAY VARIATIONS IN TRADING ACTIVITY, PRICE VARIABILITY, AND THE BID-ASK SPREAD pp. 265-276

Pei-Hwang Wei

MARKET MODEL CORRECTED FOR GENERALIZED AUTOREGRESSIVE CONDITIONAL HETEROSCEDASTICITY AND THE SMALL FIRM EFFECT pp. 277-283

Asim K. Ghosh

THE TERM STRUCTURE OF INTEREST RATES AS A COINTEGRATED SYSTEM: EMPIRICAL EVIDENCE FROM THE EUROCURRENCY MARKET pp. 285-296

Mbodja Mougoue

Volume 15, issue 2, 1992

THE LINKS BETWEEN TRADING TIME AND MARKET VOLATILITY pp. 91-100

Joel F. Houston and Michael D. Ryngaert

STOCK PRICE AND DEGREE OF NEGLECT AS DETERMINANTS OF STOCK RETURNS pp. 101-112

Ravinder K. Bhardwaj and LeRoy D. Brooks

EMPIRICAL EVIDENCE ON THE IMPACT OF THE BID-ASK SPREAD ON THE CHARACTERISTICS OF CRSP DAILY RETURNS pp. 113-125

P. C. Venkatesh

EARLY EXERCISE OF AMERICAN INDEX OPTIONS pp. 127-137

Dan W. French and Edwin Maberly

A RE-EXAMINATION OF THE RELATIONSHIP BETWEEN CLOSED-END FUND DISCOUNTS AND EXPENSES pp. 139-147

Raman Kumar and Gregory M. Noronha

LEVERAGING THE UNDERINVESTMENT PROBLEM: HOW HIGH DEBT AND MANAGEMENT SHAREHOLDINGS SOLVE THE AGENCY COSTS OF FREE CASH FLOW pp. 149-166

Gerald T. Garvey

PRODUCTION TECHNOLOGY, NONDEBT TAX SHIELDS, AND FINANCIAL LEVERAGE pp. 167-180

Timothy Manuel and Eugene Pilotte

THE IMPACT OF THE INSIDER TRADING SCANDAL ON THE INFORMATION CONTENT OF THE WALL STREET JOURNAL'S “HEARD ON THE STREET” COLUMN pp. 181-188

Pu Liu, Stanley D. Smith and Azmat A. Syed

Volume 15, issue 1, 1992

DIVIDEND POLICY AND THE BID‐ASK SPREAD: AN EMPIRICAL ANALYSIS pp. 1-10

John S. Howe and Ji‐Chai Lin

A TEST OF A RISK‐ADJUSTED DIVIDEND CAPITALIZATION MODEL: THE CASE OF LIQUIDATING FIRMS pp. 11-26

Terrance R. Skantz and Roberto Marchesini

THE INTRADAY INTERDEPENDENCE STRUCTURE BETWEEN U.S. AND JAPANESE EQUITY MARKETS pp. 27-37

Kent G. Becker, Joseph E. Finnerty and Alan L. Tucker

ADVERSE SELECTION, SPREAD BEHAVIOR, AND OVER‐THE‐COUNTER SEASONED EQUITY OFFERINGS pp. 39-56

Niranjan Tripathy and Ramesh Rao

ANTITAKEOVER CHARTER AMENDMENTS: EFFECTS ON CORPORATE DECISIONS pp. 57-67

William N. Pugh, Daniel E. Page and John S. Jahera

THE WEEKEND EFFECT AND CORPORATE DIVIDEND ANNOUNCEMENTS pp. 69-76

John D. Schatzberg and Prabir Datta

ALL‐EQUITY FIRMS AND THE BALANCING THEORY OF CAPITAL STRUCTURE pp. 77-90

John C. Gardner and Charles Trzcinka