Journal of Banking & Finance

1977 - 2025

Current editor(s): Ike Mathur

From Elsevier
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Volume 36, issue 12, 2012

Systemic risk, macroprudential policy frameworks, monitoring financial systems and the evolution of capital adequacy pp. 3125-3132

Bruce Arnold, Claudio Borio, Luci Ellis and Fariborz Moshirian

Stress testing credit risk: The Great Depression scenario pp. 3133-3149

Simone Varotto

Short-term wholesale funding and systemic risk: A global CoVaR approach pp. 3150-3162

Germán López-Espinosa, Antonio Moreno, Antonio Rubia and Laura Valderrama

Do interbank customer relationships exist? And how did they function in the crisis? Learning from Italy pp. 3163-3184

Massimiliano Affinito

Market-specific and currency-specific risk during the global financial crisis: Evidence from the interbank markets in Tokyo and London pp. 3185-3196

Shin-ichi Fukuda

Banking risk and regulation: Does one size fit all? pp. 3197-3212

Jeroen Klomp and Jakob de Haan

Risk management, corporate governance, and bank performance in the financial crisis pp. 3213-3226

Vincent Aebi, Gabriele Sabato and Markus Schmid

Short-horizon regulation for long-term investors pp. 3227-3238

Zhen Shi and Bas J.M. Werker

A public good approach to credit ratings – From concept to reality pp. 3239-3247

Jin-Chuan Duan and Elisabeth Van Laere

Going overboard? On busy directors and firm value pp. 3248-3259

George D. Cashman, Stuart L. Gillan and Chulhee Jun

Credit risk transfer in U.S. commercial banks: What changed during the 2007–2009 crisis? pp. 3260-3273

Mascia Bedendo and Brunella Bruno

Liquidity risk and stock returns around the world pp. 3274-3288

Samuel Xin Liang and John K.C. Wei

Stock salience and the asymmetric market effect of consumer sentiment news pp. 3289-3301

Shumi Akhtar, Robert Faff, Barry Oliver and Avanidhar Subrahmanyam

Best-performing US mutual fund families from 1993 to 2008: Evidence from a novel two-stage DEA model for efficiency decomposition pp. 3302-3317

I.M. Premachandra, Joe Zhu, John Watson and Don Galagedera

CEO compensation, family control, and institutional investors in Continental Europe pp. 3318-3335

Ettore Croci, Halit Gonenc and Neslihan Ozkan

Market concentration and the likelihood of financial crises pp. 3336-3345

Lucas Bretschger, Vivien Kappel and Therese Werner

Classified boards, the cost of debt, and firm performance pp. 3346-3365

Dong Chen

The relationship between banking market competition and risk-taking: Do size and capitalization matter? pp. 3366-3381

Benjamin Tabak, Dimas Fazio and Daniel Cajueiro

Downside risk aversion, fixed-income exposure, and the value premium puzzle pp. 3382-3398

Guido Baltussen, Gerrit T. Post and Pim Vliet

Financial literacy, information flows, and caste affiliation: Empirical evidence from India pp. 3399-3414

Werner Bönte and Ute Filipiak

High-frequency financial data modeling using Hawkes processes pp. 3415-3426

V. Chavez-Demoulin and J.A. McGill

Firm growth type and capital structure persistence pp. 3427-3443

Xueping Wu and Chau Kin Au Yeung

Credit spread interdependencies of European states and banks during the financial crisis pp. 3444-3468

Adrian Alter and Yves Schüler

Why do firms issue private equity repeatedly? On the motives and information content of multiple PIPE offerings pp. 3469-3481

Ioannis V. Floros and Travis R.A. Sapp

Volume 36, issue 11, 2012

Trade credit, cash holdings, and financial deepening: Evidence from a transitional economy pp. 2868-2883

Wenfeng Wu, Oliver Rui and Chongfeng Wu

Why are convertible bond announcements associated with increasingly negative issuer stock returns? An arbitrage-based explanation pp. 2884-2899

Eric Duca, Marie Dutordoir, Chris Veld and Patrick Verwijmeren

Corporate taxes, strategic default, and the cost of debt pp. 2900-2916

Ali Nejadmalayeri and Manohar Singh

Government ownership and corporate governance: Evidence from the EU pp. 2917-2934

Ginka Borisova, Paul Brockman, Jesus M. Salas and Andrey Zagorchev

Corruption, growth, and governance: Private vs. state-owned firms in Vietnam pp. 2935-2948

Thuy Nguyen and Mathijs van Dijk

Foreign bank entry, credit allocation and lending rates in emerging markets: Empirical evidence from Poland pp. 2949-2959

Hans Degryse, Olena Havrylchyk, Emilia Jurzyk and Sylwester Kozak

Financial crisis, structure and reform pp. 2960-2973

Franklin Allen, Xian Gu and Oskar Kowalewski

Do return prediction models add economic value? pp. 2974-2987

Tolga Cenesizoglu and Allan Timmermann

Analyzing interest rate risk: Stochastic volatility in the term structure of government bond yields pp. 2988-3007

Nikolaus Hautsch and Yangguoyi Ou

Size and earnings volatility of US bank holding companies pp. 3008-3016

Jakob de Haan and Tigran Poghosyan

The effect of information sharing between lenders on access to credit, cost of credit, and loan performance – Evidence from a credit registry introduction pp. 3017-3032

Patrick Behr and Simon Sonnekalb

Intraday technical analysis of individual stocks on the Tokyo Stock Exchange pp. 3033-3047

Ryuichi Yamamoto

The response of the external finance premium in Asian corporate bond markets to financial characteristics, financial constraints and two financial crises pp. 3048-3059

Paul Mizen and Serafeim Tsoukas

Mutual fund flows, expected returns, and the real economy pp. 3060-3070

Stephan Jank

Estimating the cost of capital with basis assets pp. 3071-3079

Stephen Brown, Paul Lajbcygier and Woon Weng Wong

Are there arbitrage gaps in the UK gilt strips market? pp. 3080-3090

Seth Armitage, Shanti P. Chakravarty, Lynn Hodgkinson and Jo Wells

Analyst following, staggered boards, and managerial entrenchment pp. 3091-3100

Pornsit Jiraporn, Pandej Chintrakarn and Young S. Kim

Economic value, competition and financial distress in the European banking system pp. 3101-3109

Andrea Cipollini and Franco Fiordelisi

Volatility dynamics for the S&P 500: Further evidence from non-affine, multi-factor jump diffusions pp. 3110-3121

Andreas Kaeck and Carol Alexander

Volume 36, issue 10, 2012

The future and dynamics of global systemically important banks pp. 2675-2679

Fariborz Moshirian

Financial contagion and the real economy pp. 2680-2692

Dirk Baur

When more is less: Using multiple constraints to reduce tail risk pp. 2693-2716

Gordon Alexander, Alexandre Baptista and Shu Yan

Will tighter futures price limits decrease hedge effectiveness? pp. 2717-2728

Jonathan Dark

Reprint of Investors’ distraction and strategic repricing decisions pp. 2729-2741

Marco Navone

Pricing the US residential asset through the rent flow: A cross-sectional study pp. 2742-2756

Gautam Goswami and Sinan Tan

Momentum, contrarian, and the January seasonality pp. 2757-2769

Yaqiong Yao

Does liquidity risk explain low firm performance following seasoned equity offerings? pp. 2770-2785

Pawel Bilinski, Weimin Liu and Norman Strong

Daily pricing of emerging market sovereign CDS before and during the global financial crisis pp. 2786-2794

Ingo Fender, Bernd Hayo and Matthias Neuenkirch

Day and night returns of Chinese ADRs pp. 2795-2803

Hui He and Jiawen Yang

Interest rate expectations and uncertainty during ECB Governing Council days: Evidence from intraday implied densities of 3-month EURIBOR pp. 2804-2823

Olivier Vergote and Josep Maria Puigvert Gutiérrez

Rational expectations, changing monetary policy rules, and real exchange rate dynamics pp. 2824-2836

Shiu-Sheng Chen and Yu-Hsi Chou

Overnight public information, order placement, and price discovery during the pre-opening period pp. 2837-2851

Fariborz Moshirian, Lily Nguyen and Peter Kien Pham

Stakeholder conflicts and dividend policy pp. 2852-2864

Øyvind Bøhren, Morten G. Josefsen and Pål E. Steen

Volume 36, issue 9, 2012

Variable annuities and the option to seek risk: Why should you diversify? pp. 2417-2428

Antje Mahayni and Judith C. Schneider

The relationship between net interest margin and noninterest income using a system estimation approach pp. 2429-2437

James Nguyen

Derivatives traders’ reaction to mispricing in the underlying equity pp. 2438-2454

Darren K. Hayunga, Richard D. Holowczak, Peter P. Lung and Takeshi Nishikawa

On the diversification benefits of commodities from the perspective of euro investors pp. 2455-2472

Julia Belousova and Gregor Dorfleitner

An international CAPM for partially integrated markets: Theory and empirical evidence pp. 2473-2493

Mohamed Arouri, Duc Khuong Nguyen and Kuntara Pukthuanthong

The nature of the foreign listing premium: A cross-country examination pp. 2494-2511

Sergei Sarkissian and Michael J. Schill

Inventories, sales uncertainty, and financial strength pp. 2512-2521

Mustafa Caglayan, Sara Maioli and Simona Mateut

Parameter uncertainty in portfolio selection: Shrinking the inverse covariance matrix pp. 2522-2531

Apostolos Kourtis, George Dotsis and Raphael Markellos

What explains the investment growth anomaly? pp. 2532-2542

Wikrom Prombutr, Chanwit Phengpis and Ying Zhang

Intertemporal capital budgeting pp. 2543-2551

Andrew H. Roper and Martin E. Ruckes

Bank profitability during recessions pp. 2552-2564

Wilko Bolt, Leo de Haan, Marco Hoeberichts, Maarten van Oordt and Job Swank

Rehabilitating the role of active management for pension funds pp. 2565-2574

Michel Aglietta, Marie Brière, Sandra Rigot and Ombretta Signori

State uncertainty in stock markets: How big is the impact on the cost of equity? pp. 2575-2592

Yufeng Han

The effects of big-bank presence on the profit efficiency of small banks in rural markets pp. 2593-2603

Ken B. Cyree and W. Paul Spurlin

Portfolio frontiers with restrictions to tracking error volatility and value at risk pp. 2604-2615

Giulio Palomba and Luca Riccetti

Why newly listed firms become acquisition targets pp. 2616-2631

Soumendra De and Jan Jindra

Does the choice of estimator matter when forecasting returns? pp. 2632-2640

Joakim Westerlund and Paresh Narayan

What do bank acquirers want? Evidence from worldwide bank M&A targets pp. 2641-2659

Stefano Caiazza, Andrew Clare and Alberto Pozzolo

Funding liquidity and equity liquidity in the subprime crisis period: Evidence from the ETF market pp. 2660-2671

Junmao Chiu, Huimin Chung, Keng-Yu Ho and George H.K. Wang

Volume 36, issue 8, 2012

Institutional ownership, analyst following, and share prices pp. 2175-2189

Chitru S. Fernando, Vladimir A. Gatchev and Paul A. Spindt

The impact of reputation on analysts’ conflicts of interest: Hot versus cold markets pp. 2190-2202

Daniel Bradley, Jonathan Clarke and John Cooney

Income diversification and risk: Does ownership matter? An empirical examination of Indian banks pp. 2203-2215

Anita K. Pennathur, Vijaya Subrahmanyam and Sharmila Vishwasrao

Are corporate bond market returns predictable? pp. 2216-2232

Yongmiao Hong, Hai Lin and Chunchi Wu

Pitfalls in backtesting Historical Simulation VaR models pp. 2233-2244

Juan Carlos Escanciano and Pei Pei

Are mutual fund fees excessive? pp. 2245-2259

John C. Adams, Sattar A. Mansi and Takeshi Nishikawa

Volatility spillovers and the effect of news announcements pp. 2260-2273

George J. Jiang, Eirini Konstantinidi and George Skiadopoulos

Beyond the Sharpe ratio: An application of the Aumann–Serrano index to performance measurement pp. 2274-2284

Ulrich Homm and Christian Pigorsch

Banking crises and market discipline: International evidence pp. 2285-2298

Elena Cubillas, Ana Rosa Fonseca and Francisco González

Option trading: Information or differences of opinion? pp. 2299-2322

Siu Kai Choy and Jason Wei

New measures of monetary policy surprises and jumps in interest rates pp. 2323-2343

Ángel León and Szabolcs Sebestyén

Political connection and leverage: Some Malaysian evidence pp. 2344-2350

Mark A. Bliss and Ferdinand Gul

Forecasting the performance of hedge fund styles pp. 2351-2365

Jose Olmo and Marcos Sanso-Navarro

Rational and behavioral motives to trade: Evidence from reinvestment of dividends and tender offer proceeds pp. 2366-2378

Markku Kaustia and Elias Rantapuska

Downside risk of international stock returns pp. 2379-2388

Victoria Galsband

Real options and earnings-based bonus compensation pp. 2389-2402

Hsing-Hua Huang, Hongming Huang and Pai-Ta Shih

Are banks using hidden reserves to beat earnings benchmarks? Evidence from Germany pp. 2403-2415

Sven Bornemann, Thomas Kick, Christoph Memmel and Andreas Pfingsten

Volume 36, issue 7, 2012

An alternative three-factor model for international markets: Evidence from the European Monetary Union pp. 1857-1864

Manuel Ammann, Sandro Odoni and David Oesch

Asset allocation: How much does model choice matter? pp. 1865-1882

Nicole Branger and Alexandra Hansis

Productivity and efficiency at large and community banks in the US: A Bayesian true random effects stochastic distance frontier analysis pp. 1883-1895

Guohua Feng and Xiaohui Zhang

Granularity adjustment for mark-to-market credit risk models pp. 1896-1910

Michael Gordy and James Marrone

Incorporating risk input into the analysis of bank productivity: Application to the Taiwanese banking industry pp. 1911-1927

Ku-Hsieh Chen

Optimal portfolios with minimum capital requirements pp. 1928-1942

Andre Santos, Francisco J. Nogales, Esther Ruiz and Dick Van Dijk

Bounds on the autocorrelation of admissible stochastic discount factors pp. 1943-1962

Stéphane Chrétien

The week-of-the-year effect: Evidence from around the globe pp. 1963-1974

Tamir Levy and Joseph Yagil

Banning short sales and market quality: The UK’s experience pp. 1975-1986

Ian Marsh and Richard Payne

Non-Gaussian diversification: When size matters pp. 1987-1996

François Desmoulins-Lebeault and Cécile Kharoubi-Rakotomalala

The sources of bank productivity growth in China during 2002–2009: A disaggregation view pp. 1997-2006

Tzu-Pu Chang, Jin-Li Hu, Ray Chou and Lei Sun

What happens after corporate default? Stylized facts on access to credit pp. 2007-2025

Diana Bonfim, Daniel Dias and Christine Richmond

Forecasting government bond yields with large Bayesian vector autoregressions pp. 2026-2047

Andrea Carriero, George Kapetanios and Massimiliano Marcellino

Optimal tax-timing and asset allocation when tax rebates on capital losses are limited pp. 2048-2063

Marcel Marekwica

Transparency in IPO mechanism: Retail investors’ participation, IPO pricing and returns pp. 2064-2076

Suman Neupane and Sunil S. Poshakwale

A decision-theoretic foundation for reward-to-risk performance measures pp. 2077-2082

Frank Schuhmacher and Martin Eling

False discoveries in volatility timing of mutual funds pp. 2083-2094

Sangbae Kim and Francis In

Informed trading, information uncertainty, and price momentum pp. 2095-2109

Yifan Chen and Huainan Zhao

Multimarket trading and corporate bond liquidity pp. 2110-2121

Lubomir Petrasek

Asset pricing with partial-moments pp. 2122-2135

Sean A. Anthonisz

Ownership and technical efficiency of microfinance institutions: Empirical evidence from Latin America pp. 2136-2144

Roselia Servin Juarez, Robert Lensink and Marrit van den Berg

Investor sophistication and risk taking pp. 2145-2156

Jan de Dreu and Jacob Bikker

Diversification and risk-adjusted performance: A quantile regression approach pp. 2157-2173

Bong Soo Lee and Ming-Yuan Leon Li

Volume 36, issue 6, 2012

Keep on smiling? The pricing of Quanto options when all covariances are stochastic pp. 1577-1591

Nicole Branger and Matthias Muck

Coinsurance effect and bank lines of credit pp. 1592-1603

Zhenxu Tong

Portfolio credit-risk optimization pp. 1604-1615

Ian Iscoe, Alexander Kreinin, Helmut Mausser and Oleksandr Romanko

Market power and reputational concerns in the ratings industry pp. 1616-1626

Beatriz Mariano

The home-institution bias pp. 1627-1638

Grant McQueen and Anders Stenkrona

Endogenizing exogenous default barrier models: The MM algorithm pp. 1639-1652

Santiago Forte and Lidija Lovreta

Valuing and pricing IPOs pp. 1653-1664

Peter Roosenboom

Assessing the risk-return trade-off in loan portfolios pp. 1665-1677

Javier Mencia

Asset pricing with Second-Order Esscher Transforms pp. 1678-1687

Alain Monfort and Fulvio Pegoraro

Countercyclical contingent capital pp. 1688-1709

Emilio Barucci and Luca Del Viva

The effect of foreign bank presence on firm entry and exit in transition economies pp. 1710-1721

Olena Havrylchyk

Form versus substance: The effect of ownership structure and corporate governance on firm value in Thailand pp. 1722-1743

J. Thomas Connelly, Piman Limpaphayom and Nandu J. Nagarajan

Investment policy in family controlled firms pp. 1744-1758

Ronald C. Anderson, Augustine Duru and David Reeb

The flow-performance relationship around the world pp. 1759-1780

Miguel Ferreira, Aneel Keswani, Antonio F. Miguel and Sofia Ramos

Revisiting the empirical linkages between stock returns and trading volume pp. 1781-1788

Shiu-Sheng Chen

Level, slope, curvature of the sovereign yield curve, and fiscal behaviour pp. 1789-1807

Antonio Afonso and Manuel Martins

Information demand and stock market volatility pp. 1808-1821

Nikolaos Vlastakis and Raphael Markellos

Lending competition and credit availability for new firms: Empirical study with the price cost margin in regional loan markets pp. 1822-1838

Yoshiaki Ogura

Asymmetric dynamics of stock price continuation pp. 1839-1855

Alex Huang

Volume 36, issue 5, 2012

Pitfalls in VAR based return decompositions: A clarification pp. 1255-1265

Tom Engsted, Thomas Pedersen and Carsten Tanggaard

On the relationship between concentration of prospect theory/mental accounting investors, cointegration, and momentum pp. 1266-1275

Ajay Bhootra and Jungshik Hur

Being a foreigner among domestic banks: Asset or liability? pp. 1276-1290

Stijn Claessens and Neeltje Van Horen

Investors’ distraction and strategic repricing decisions pp. 1291-1303

Marco Navone

When are path-dependent payoffs suboptimal? pp. 1304-1310

Stefan Kassberger and Thomas Liebmann

A stochastic frontier approach to modelling financial constraints in firms: An application to India pp. 1311-1319

Sumon Bhaumik, Pranab Das and Subal Kumbhakar

Household portfolio choices, health status and health care systems: A cross-country analysis based on SHARE pp. 1320-1335

Vincenzo Atella, Marianna Brunetti and Nicole Maestas

Bank connections, corporate investment and crisis pp. 1336-1353

Susanne Espenlaub, Arif Khurshed and Thitima Sitthipongpanich

Combining equilibrium, resampling, and analyst’s views in portfolio optimization pp. 1354-1361

José Luiz Barros Fernandes, Jose Ornelas and Oscar Augusto Cusicanqui

Macroenvironmental determinants of operational loss severity pp. 1362-1380

Eric W. Cope, Mark T. Piche and John S. Walter

The term structure of illiquidity premia pp. 1381-1391

Alexander Kempf, Olaf Korn and Marliese Uhrig-Homburg

Characteristic-based mean-variance portfolio choice pp. 1392-1401

Erik Hjalmarsson and Petar Manchev

The information content of trade credit pp. 1402-1413

Nihat Aktas, Eric de Bodt, Frédéric Lobez and Jean-Christophe Statnik

Using industry momentum to improve portfolio performance pp. 1414-1423

Patrick Behr, Andre Guettler and Fabian Truebenbach

Acquisition valuations of withdrawn IPOs: When IPO plans turn into mergers pp. 1424-1436

Qin Lian and Qiming Wang

Common information asymmetry factors in syndicated loan structures pp. 1437-1451

Claudia Champagne and Frank Coggins

Do investment banks listen to their own analysts? pp. 1452-1463

Bradford Jordan, Mark H. Liu and Qun Wu

Granularity adjustment for default risk factor model with cohorts pp. 1464-1477

Christian Gourieroux and Joann Jasiak

Did investors outsource their risk analysis to rating agencies? Evidence from ABS-CDOs pp. 1478-1491

Thomas Mählmann

Extreme downside risk and expected stock returns pp. 1492-1502

Wei Huang, Qianqiu Liu, S. Ghon Rhee and Feng Wu

Subprime mortgage design pp. 1503-1519

Geetesh Bhardwaj and Rajdeep Sengupta

Political connection and cost of debt: Some Malaysian evidence pp. 1520-1527

Mark A. Bliss and Ferdinand Gul

Are good-news firms riskier than bad-news firms? pp. 1528-1535

Byoung-Kyu Min and Tong Suk Kim

Board quality and the cost of debt capital: The case of bank loans pp. 1536-1547

L. Paige Fields, Donald R. Fraser and Avanidhar Subrahmanyam

Local financial development and growth pp. 1548-1562

Jake Kendall

Cojumping: Evidence from the US Treasury bond and futures markets pp. 1563-1575

Mardi Dungey and Lyudmyla Hvozdyk

Volume 36, issue 4, 2012

The determinants of bank loan recovery rates pp. 923-933

Hinh D. Khieu, Donald J. Mullineaux and Ha-Chin Yi

A careful re-examination of seasonality in international stock markets: Comment on sentiment and stock returns pp. 934-956

Mark J. Kamstra, Lisa Kramer and Maurice Levi

Are two heads better than one? Evidence from the thrift crisis pp. 957-967

John Byrd, Donald R. Fraser, D. Scott Lee and Semih Tartaroglu

Portfolio selection with mental accounts and background risk pp. 968-980

Alexandre Baptista

Investment timing under debt issuance constraint pp. 981-991

Takashi Shibata and Michi Nishihara

Earnings conference calls and stock returns: The incremental informativeness of textual tone pp. 992-1011

S. McKay Price, James Doran, David R. Peterson and Barbara A. Bliss

Macroeconomic and bank-specific determinants of non-performing loans in Greece: A comparative study of mortgage, business and consumer loan portfolios pp. 1012-1027

Dimitrios Louzis, Angelos Vouldis and Vasilios L. Metaxas

Exploring the role of the realized return distribution in the formation of the implied volatility smile pp. 1028-1044

George Chalamandaris and Leonidas Rompolis

Empirical evidence of the value of monitoring in joint ownership pp. 1045-1056

Tomas Mantecon, Ian Liu and Fei Gao

The performance of cross-sectional regression tests of the CAPM with non-zero pricing errors pp. 1057-1066

Irina Murtazashvili and Nadia Vozlyublennaia

The alpha and omega of fund of hedge fund added value pp. 1067-1078

Serge Darolles and Mathieu Vaissié

Firm location and corporate debt pp. 1079-1092

Matteo P. Arena and Michaël Dewally

Correlation in credit risk changes pp. 1093-1106

Xiaoling Pu and Xinlei Zhao

Cross-sectional performance and investor sentiment in a multiple risk factor model pp. 1107-1121

Dave Berger and H.J. Turtle

Do CEOs gain more in foreign acquisitions than domestic acquisitions? pp. 1122-1138

Neslihan Ozkan

Coincident correlations of growth and cash flow in banking pp. 1139-1143

Drew Dahl

An empirical analysis of marginal conditional stochastic dominance pp. 1144-1151

Ephraim Clark and Konstantinos Kassimatis

Modeling and measuring intraday overreaction of stock prices pp. 1152-1163

Stefan Klößner, Martin Becker and Ralph Friedmann

Institutional investment horizon and investment–cash flow sensitivity pp. 1164-1180

Najah Attig, Sean Cleary, Sadok El Ghoul and Omrane Guedhami

Uncovering the US term premium: An alternative route pp. 1181-1193

Luis Gil-Alana and Antonio Moreno

Does being your bank’s neighbor matter? pp. 1194-1209

Anzhela Knyazeva and Diana Knyazeva

Closing and cloning in open-end mutual funds pp. 1210-1223

Hsiu-Lang Chen, Sheldon Gao and Xiaoqing Hu

Bouncing out of the banking system: An empirical analysis of involuntary bank account closures pp. 1224-1235

Dennis Campbell, F. Asís Martínez-Jerez and Peter Tufano

Historical evidence on the finance-trade-growth nexus pp. 1236-1243

Michael Bordo and Peter Rousseau

Large shareholder diversification, corporate risk taking, and the benefits of changing to differential voting rights pp. 1244-1253

Scott W. Bauguess, Myron B. Slovin and Marie E. Sushka

Volume 36, issue 3, 2012

The politics of financial development: The role of interest groups and government capabilities pp. 626-643

Oscar Becerra, Eduardo Cavallo and C. Scartascini

Political crises and the stock market integration of emerging markets pp. 644-653

Bart Frijns, Alireza Tourani-Rad and Ivan Indriawan

Missing elements in US financial reform: A Kübler-Ross interpretation of the inadequacy of the Dodd-Frank Act pp. 654-661

Edward Kane

Yes, dividends are disappearing: Worldwide evidence pp. 662-677

Ali Fatemi and Recep Bildik

Determinants of earnout as acquisition payment currency and bidder’s value gains pp. 678-694

Leonidas Barbopoulos and Sudi Sudarsanam

Can VAR models capture regime shifts in asset returns? A long-horizon strategic asset allocation perspective pp. 695-716

Massimo Guidolin and Stuart Hyde

A comparative study of the probability of default for global financial firms pp. 717-732

António Câmara, Ivilina Popova and Betty Simkins

Capital incentives and adequacy for securitizations pp. 733-748

Daniel Rösch and Harald Scheule

What do premiums paid for bank M&As reflect? The case of the European Union pp. 749-759

Jens Hagendorff, Ignacio Hernando, Maria J. Nieto and Larry Wall

Trading frequency and volatility clustering pp. 760-773

Yi Xue and Ramazan Gencay

Price discovery and volatility spillovers in the European Union emissions trading scheme: A high-frequency analysis pp. 774-785

Daniel Rittler

The information content of implied skewness and kurtosis changes prior to earnings announcements for stock and option returns pp. 786-802

Dean Diavatopoulos, James Doran, Andy Fodor and David R. Peterson

Capital requirements and bank behavior in the UK: Are there lessons for international capital standards? pp. 803-816

William Francis and Matthew Osborne

Collateral and its substitutes in emerging markets’ lending pp. 817-834

Lukas Menkhoff, Doris Neuberger and Ornsiri Rungruxsirivorn

Fast profits: Investor sentiment and stock returns during Ramadan pp. 835-845

Jędrzej Białkowski, Ahmad Etebari and Tomasz Wisniewski

The cross-section of mutual fund fee dispersion pp. 846-856

Giuliano Iannotta and Marco Navone

Bankruptcies of small firms and lending relationship pp. 857-870

Katsutoshi Shimizu

International diversification: An extreme value approach pp. 871-885

Lorán Chollete, Victor de la Peña and Ching-Chih Lu

Short selling of ADRs and foreign market short-sale constraints pp. 886-897

Benjamin Blau, Robert A. Van Ness and Richard S. Warr

Cross-country analysis of secular cash trends pp. 898-912

Mai E. Iskandar-Datta and Yonghong Jia

Higher co-moments and asset pricing on London Stock Exchange pp. 913-922

Alexandros Kostakis, Kashif Muhammad and Antonios Siganos

Volume 36, issue 2, 2012

Are emerging market indicators of vulnerability to financial crises decoupling from global factors? pp. 321-331

Guillermo Felices and Tomasz Wieladek

A systematic approach to multi-period stress testing of portfolio credit risk pp. 332-340

Thomas Breuer, Martin Jandačka, Javier Mencia and Martin Summer

Bank discrimination, holding bank ownership, and economic consequences: Evidence from China pp. 341-354

Zhengfei Lu, Jigao Zhu and Weining Zhang

Do industries matter in explaining stock returns and asset-pricing anomalies? pp. 355-370

Pin-Huang Chou, Po-Hsin Ho and Kuan-Cheng Ko

Another look at trading costs and short-term reversal profits pp. 371-382

Wilma de Groot, Joop Huij and Weili Zhou

The joint response of stock and foreign exchange markets to macroeconomic surprises: Using US and Japanese data pp. 383-394

Kyung-Chun Mun

Corporate governance and capital allocations of diversified firms pp. 395-409

Sheng-Syan Chen and I-Ju Chen

The 1/N investment strategy is optimal under high model ambiguity pp. 410-417

Georg Ch. Pflug, Alois Pichler and David Wozabal

Portfolios in disguise? Window dressing in bond fund holdings pp. 418-427

Cristina Ortiz, José Luis Sarto and Luis Vicente

The impact of unconventional monetary policy on the market for collateral: The case of the French bond market pp. 428-438

Sanvi Avouyi-Dovi and Julien Idier

Product markets and corporate investment: Theory and evidence pp. 439-453

Evrim Akdoğu and Peter MacKay

An improved estimation method and empirical properties of the probability of informed trading pp. 454-467

Yuxing Yan and Shaojun Zhang

National culture and corporate debt maturity pp. 468-488

Xiaolan Zheng, Sadok El Ghoul, Omrane Guedhami and Chuck C.Y. Kwok

Portfolio selection with qualitative input pp. 489-496

Anant Chiarawongse, Seksan Kiatsupaibul, Sunti Tirapat and Benjamin Van Roy

Accruals quality and analyst coverage pp. 497-508

Gerald J. Lobo, Minsup Song and Mary Stanford

Financial advisors: A case of babysitters? pp. 509-524

Andreas Hackethal, Michael Haliassos and Tullio Jappelli

Gravity and culture in foreign portfolio investment pp. 525-538

Raj Aggarwal, Colm Kearney and Brian Lucey

Overbidding in fixed rate tenders: The role of exposure risk pp. 539-549

Christian Ewerhart, Nuno Cassola and Natacha Valla

The role of time value in convertible bond call policy pp. 550-563

Emanuele Bajo and Massimiliano Barbi

Revisiting the incentive effects of executive stock options pp. 564-574

Chun-Hua Tang

A unique “T+1 trading rule” in China: Theory and evidence pp. 575-583

Ming Guo, Zhan Li and Zhiyong Tu

Chaebol-affiliated analysts: Conflicts of interest and market responses pp. 584-596

Song, Kyojik “Roy”, Tomas Mantecon and Z. Ayca Altintig

Order flow, bid–ask spread and trading density in foreign exchange markets pp. 597-612

Shikuan Chen, Chih Chien and Ming-Jen Chang

Earnings management and auditor specialization in the post-sox era: An examination of the banking industry pp. 613-623

David Gregory DeBoskey and Wei Jiang

Volume 36, issue 1, 2012

The Great Recession: US dynamics and spillovers to the world economy pp. 1-13

Fabio Bagliano and Claudio Morana

Informed or speculative: Short selling analyst recommendations pp. 14-25

Benjamin Blau and Chip Wade

Cash holdings in private firms pp. 26-35

Marco Bigelli and Javier Sánchez-Vidal

Understanding the rise and decline of the Japanese main bank system: The changing effects of bank rent extraction pp. 36-50

Xueping Wu and Jun Yao

Impact of macroeconomic news on metal futures pp. 51-65

John Elder, Hong Miao and Sanjay Ramchander

The impact of strategic interaction on earnings expectations associated with corporate product strategies pp. 66-77

Sheng-Syan Chen, Po-Jung Chen and Wen-Chun Lin

Credit rating dynamics in the presence of unknown structural breaks pp. 78-89

Haipeng Xing, Ning Sun and Ying Chen

Contingent convertibles. Solving or seeding the next banking crisis? pp. 90-104

Christian Koziol and Jochen Lawrenz

Financial crises in efficient markets: How fundamentalists fuel volatility pp. 105-111

Ariane Szafarz

Changes to mutual fund risk: Intentional or mean reverting? pp. 112-120

Grant Cullen, Dominic Gasbarro, Gary S. Monroe and J. Kenton Zumwalt

Models of the yield curve and the curvature of the implied forward rate function pp. 121-135

Peter J. Yallup

Libor manipulation? pp. 136-150

Rosa M. Abrantes-Metz, Michael Kraten, Albert D. Metz and Gim S. Seow

Pricing American interest rate options under the jump-extended constant-elasticity-of-variance short rate models pp. 151-163

Natalia Beliaeva and Sanjay Nawalkha

IMF programs, financial and real sector performance, and the Asian crisis pp. 164-182

Ali Kutan, Yaz Muradoglu and Brasukra G. Sudjana

Interest rate co-movements, global factors and the long end of the term spread pp. 183-192

Joseph Byrne, Giorgio Fazio and Norbert Fiess

Performance of technical analysis in growth and small cap segments of the US equity market pp. 193-208

Andrei Shynkevich

Capital structure and executive compensation contract design: A theoretical and empirical analysis pp. 209-224

Hsuan-Chu Lin, Ting-Kai Chou and Wen-Gine Wang

Distress risk premia in expected stock and bond returns pp. 225-238

Andrew Jianzhong Zhang

Why are excess returns on China’s Treasury bonds so predictable? The role of the monetary system pp. 239-248

Longzhen Fan, Shu Tian and Chu Zhang

Option-implied volatility factors and the cross-section of market risk premia pp. 249-260

Junye Li

Information content of repurchase signals: Tangible or intangible information? pp. 261-274

Woan-lih Liang

Convertible securities in merger transactions pp. 275-289

John D. Finnerty, Jie Jiao and An Yan

Two to tangle: Financial development, political instability and economic growth in Argentina pp. 290-304

Nauro Campos, Menelaos G. Karanasos and Bin Tan

Dual class IPOs: A theoretical analysis pp. 305-319

Thomas Chemmanur and Yawen Jiao