Journal of Financial Economics

1974 - 2025

Current editor(s): G. William Schwert

From Elsevier
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Volume 100, issue 3, 2011

Is market fragmentation harming market quality? pp. 459-474

Maureen O'Hara and Mao Ye

Improving the predictability of real economic activity and asset returns with forward variances inferred from option portfolios pp. 475-495

Gurdip Bakshi, George Panayotov and Georgios Skoulakis

Spot and forward volatility in foreign exchange pp. 496-513

Pasquale Della Corte, Lucio Sarno and Ilias Tsiakas

Forecasting stock market returns: The sum of the parts is more than the whole pp. 514-537

Miguel Ferreira and Pedro Santa-Clara

Are all CEOs above average? An empirical analysis of compensation peer groups and pay design pp. 538-555

John Bizjak, Michael Lemmon and Thanh Nguyen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects pp. 556-578

Manju Puri, Jörg Rocholl and Sascha Steffen

Dividend distributions and closed-end fund discounts pp. 579-593

Theodore E. Day, George Z. Li and Yexiao Xu

Vertical divestitures through equity carve-outs and spin-offs: A product markets perspective pp. 594-615

Bharat A. Jain, Omesh Kini and Jaideep Shenoy

A theory of equity carve-outs and negative stub values under heterogeneous beliefs pp. 616-638

Onur Bayar, Thomas Chemmanur and Mark H. Liu

Corporate tax avoidance and stock price crash risk: Firm-level analysis pp. 639-662

Jeong-Bon Kim, Yinghua Li and Liandong Zhang

The role of securitization in bank liquidity and funding management pp. 663-684

Elena Loutskina

Volume 100, issue 2, 2011

The dark side of financial innovation: A case study of the pricing of a retail financial product pp. 227-247

Brian J. Henderson and Neil D. Pearson

Higher risk, lower returns: What hedge fund investors really earn pp. 248-263

Ilia D. Dichev and Gwen Yu

Banking system control, capital allocation, and economy performance pp. 264-283

Randall Morck, M. Deniz Yavuz and Bernard Yeung

Institutional stock trading on loan market information pp. 284-303

Victoria Ivashina and Zheng Sun

Asymmetric information, adverse selection, and the pricing of CMBS pp. 304-325

Xudong An, Yongheng Deng and Stuart Gabriel

Media ownership, concentration and corruption in bank lending pp. 326-350

Joel F. Houston, Chen Lin and Yue Ma

A model of dynamic compensation and capital structure pp. 351-366

Zhiguo He

Investor sentiment and the mean-variance relation pp. 367-381

Jianfeng Yu and Yu Yuan

Country-specific sentiment and security prices pp. 382-401

Byoung-Hyoun Hwang

Firm life expectancy and the heterogeneity of the book-to-market effect pp. 402-423

Huafeng (Jason) Chen

The disparity between long-term and short-term forecasted earnings growth pp. 424-442

Zhi Da and Mitch Warachka

Ex post: The investment performance of collectible stamps pp. 443-458

Elroy Dimson and Christophe Spaenjers

Volume 100, issue 1, 2011

Ownership structure and the cost of corporate borrowing pp. 1-23

Chen Lin, Yue Ma, Paul Malatesta and Yuhai Xuan

The liquidity risk of liquid hedge funds pp. 24-44

Melvyn Teo

Strategic IPOs and product market competition pp. 45-67

Jiri Chod and Evgeny Lyandres

Institutional tax clienteles and payout policy pp. 68-84

Mihir A. Desai and Li Jin

Tests of ex ante versus ex post theories of collateral using private and public information pp. 85-97

Allen N. Berger, W Frame and Vasso Ioannidou

Stock market aversion? Political preferences and stock market participation pp. 98-112

Markku Kaustia and Sami Torstila

Why do convertible issuers simultaneously repurchase stock? An arbitrage-based explanation pp. 113-129

Abe de Jong, Marie Dutordoir and Patrick Verwijmeren

Employee treatment and firm leverage: A test of the stakeholder theory of capital structure pp. 130-153

Kee-Hong Bae, Jun-Koo Kang and Jin Wang

Does governance travel around the world? Evidence from institutional investors pp. 154-181

Reena Aggarwal, Isil Erel, Miguel Ferreira and Pedro Matos

Research for sale: Determinants and consequences of paid-for analyst research pp. 182-200

Marcus Kirk

Price impact and portfolio impact pp. 201-225

Jaksa Cvitanic and Semyon Malamud

Volume 99, issue 3, 2011

Do hedge funds trade on private information? Evidence from syndicated lending and short-selling pp. 477-499

Nadia Massoud, Debarshi Nandy, Anthony Saunders and Keke Song

Institutional demand pressure and the cost of corporate loans pp. 500-522

Victoria Ivashina and Zheng Sun

Board structure and price informativeness pp. 523-545

Daniel Ferreira, Miguel Ferreira and Clara Raposo

Why mutual funds "underperform" pp. 546-559

Vincent Glode

Time-varying short-horizon predictability pp. 560-580

Sam Henkel, J. Spencer Martin and Federico Nardari

Breaking down the barriers: Competition, syndicate structure, and underwriting incentives pp. 581-600

Anil Shivdasani and Wei-Ling Song

Technological change and the growing inequality in managerial compensation pp. 601-627

Hanno Lustig, Chad Syverson and Stijn Van Nieuwerburgh

Liquidity risk and expected corporate bond returns pp. 628-650

Hai Lin, Junbo Wang and Chunchi Wu

Exchange trading rules and stock market liquidity pp. 651-671

Douglas Cumming, Sofia Johan and Dan Li

Hedge funds, managerial skill, and macroeconomic variables pp. 672-692

Doron Avramov, Robert Kosowski, Narayan Y. Naik and Melvyn Teo

Share issuance and cash savings pp. 693-715

R. David McLean

Volume 99, issue 2, 2011

Capital structure dynamics and transitory debt pp. 235-261

Harry DeAngelo, Linda DeAngelo and Toni Whited

Corporate investment and financing under asymmetric information pp. 262-288

Erwan Morellec and Norman Schürhoff

Empty voting and the efficiency of corporate governance pp. 289-307

Alon Brav and Richmond D. Mathews

Vintage capital and creditor protection pp. 308-332

Efraim Benmelech and Nittai K. Bergman

Diversification disasters pp. 333-348

Rustam Ibragimov, Dwight Jaffee and Johan Walden

Frequent issuers' influence on long-run post-issuance returns pp. 349-364

Matthew T. Billett, Mark Flannery and Jon A. Garfinkel

A theory of corporate financial decisions with liquidity and solvency concerns pp. 365-384

Sebastian Gryglewicz

Do time-varying risk premiums explain labor market performance? pp. 385-399

Long Chen and Lu Zhang

General equilibrium pricing of options with habit formation and event risks pp. 400-426

Du Du

Maxing out: Stocks as lotteries and the cross-section of expected returns pp. 427-446

Turan G. Bali, Nusret Cakici and Robert F. Whitelaw

The structure and formation of business groups: Evidence from Korean chaebols pp. 447-475

Heitor Almeida, Sang Yong Park, Marti G. Subrahmanyam and Daniel Wolfenzon

Volume 99, issue 1, 2011

Simple formulas for standard errors that cluster by both firm and time pp. 1-10

Samuel B. Thompson

Bank CEO incentives and the credit crisis pp. 11-26

Ruediger Fahlenbrach and René Stulz

Institutional cross-holdings and their effect on acquisition decisions pp. 27-39

Jarrad Harford, Dirk Jenter and Kai Li

Competition among mutual funds pp. 40-59

Sunil Wahal and Wang, Albert (Yan)

Speculative capital and currency carry trades pp. 60-75

Petri Jylhä and Matti Suominen

The impact of governance reform on performance and transparency pp. 76-96

Richard Price, Francisco J. Román and Brian Rountree

Horizontal acquisitions and buying power: A product market analysis pp. 97-115

Sugato Bhattacharyya and Amrita Nain

The effect of banking crisis on bank-dependent borrowers pp. 116-135

Sudheer Chava and Amiyatosh Purnanandam

The world price of liquidity risk pp. 136-161

Kuan-Hui Lee

Disagreement and return predictability of stock portfolios pp. 162-183

Jialin Yu

Does access to external finance improve productivity? Evidence from a natural experiment pp. 184-203

Alexander Butler and Jess Cornaggia

Markowitz meets Talmud: A combination of sophisticated and naive diversification strategies pp. 204-215

Jun Tu and Guofu Zhou

Jump risk, stock returns, and slope of implied volatility smile pp. 216-233

Shu Yan