Journal of Financial Intermediation

1990 - 2025

Current editor(s): Elu von Thadden

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Optimal Incentive Contracts When Agents Can Save, Borrow, and Default pp. 241-269: David S. Bizer and Peter DeMarzo
The Use of Debt and Equity in Optimal Financial Contracts pp. 270-316: John H. Boyd and Bruce Smith
The Impact of Capital-Based Regulation on Bank Risk-Taking pp. 317-352: Paul Calem and Rafael Rob
A General Equilibrium Analysis of Check Float pp. 353-377: James McAndrews and William Roberds

JFI Most Significant Paper Prize for Volume 7 pp. 121-121: Anjan Thakor
Execution Costs of Institutional Equity Orders pp. 123-140: Charles Jones and Marc L. Lipson
Minimum Price Variations, Time Priority, and Quote Dynamics pp. 141-173: Tito Cordella and Thierry Foucault
Disentangling Value: Financing Needs, Firm Scope, and Divestitures pp. 174-204: Vikram Nanda and M. P. Narayanan
Asymmetric Information, Corporate Myopia, and Capital Gains Tax Rates: An Analysis of Policy Prescriptions pp. 205-231: Thomas Chemmanur and S. Abraham Ravid

FOREWORD pp. 1-1: Anjan Thakor
GUEST EDITOR'S INTRODUCTION: The Design of Financial Systems and Markets pp. 5-7: Franklin Allen
Law, Finance, and Economic Growth pp. 8-35: Ross Levine
Disintermediation and the Role of Banks in Europe: An International Comparison pp. 36-67: Reinhard Schmidt, Andreas Hackethal and Marcel Tyrell
Diversity of Opinion and Financing of New Technologies pp. 68-89: Franklin Allen and Douglas Gale
Short Selling on the New York Stock Exchange and the Effects of the Uptick Rule pp. 90-116: Gordon Alexander and Mark A. Peterson

A Brief Retrospective and Prospective Look atThe Journal of Financial Intermediation: 1990-1998 pp. 331-337: Anjan Thakor
Order Flow Distribution, Bid-Ask Spreads, and Liquidity Costs: Merrill Lynch's Decision to Cease Routinely Routing Orders to Regional Stock Exchanges pp. 338-358: Robert Battalio, Jason Greene and Robert Jennings
The Winner's Curse in Banking pp. 359-392: Sherrill Shaffer
The Role of Tick Size in Upstairs Trading and Downstairs Trading pp. 393-417: Mark D. Griffiths, Brian F. Smith, D. Alasdair S. Turnbull and Robert W. White

JFIMost Significant Paper Prize for Volume 6 pp. 219-219: Anjan Thakor
Trading System and Market Integration pp. 220-239: Alexander Kempf and Olaf Korn
Acquisitions as a Means of Restructuring Firms in Chapter 11 pp. 240-262: Edith S. Hotchkiss and Robert M. Mooradian
When Does Internationalization Enhance the Development of Domestic Stock Markets? pp. 263-292: Kent Hargis and Pradipkumar Ramanlal
The Underinvestment Problem and Patterns in Bank Lending pp. 293-326: Sonya Williams Stanton

The Effects of Transaction Costs on Stock Prices and Trading Volume pp. 130-150: Michael J. Barclay, Eugene Kandel and Leslie Marx
The Effects of Asset Liquidity: Evidence from the Contract Drilling Industry pp. 151-176: Chyhe Esther Kim
Intermediated versus Direct Investment: Optimal Liquidity Provision and Dynamic Incentive Compatibility pp. 177-197: Ernst-Ludwig von Thadden
Deposit Liquidity and Bank Monitoring pp. 198-218: Jianping Qi

Contagion and Efficiency in Gross and Net Interbank Payment Systems pp. 3-31: Xavier Freixas and Bruno Parigi
Agency Problems, Information Asymmetries, and Convertible Debt Security Design pp. 32-59: Craig M. Lewis, Richard J. Rogalski and James K. Seward
The Choice between Firm-Commitment and Best-Efforts Offering Methods in IPOs: The Effect of Unsuccessful Offers pp. 60-90: Craig G. Dunbar
Liquidity Creation, Efficiency, and Free Banking pp. 91-118: Hans Gersbachd

Liars Never Prosper? How Management Misrepresentation Reduces Monitoring Costs pp. 269-306: John C. Persons
Competition among Financial Intermediaries When Diversification Matters pp. 307-346: Andrew Winton
Bankruptcy, Warrants, and State-Contingent Changes in the Ownership of Control pp. 347-379: Avner Kalay and Jaime F. Zender

The Law and Economics of Best Execution pp. 188-223: Jonathan R. Macey and Maureen O'Hara
Firm Size and Dividend Payouts pp. 224-248: Lee S. Redding
Absolute Priority Rule Violations, Credit Rationing, and Efficiency pp. 249-267: Stanley D. Longhofer

FOREWORD pp. 91-91: Anjan Thakor
The Impact of Decimalization on Market Quality: An Empirical Investigation of the Toronto Stock Exchange pp. 92-120: Jeffrey M. Bacidore
Optimal Design and Governance of Asset-Backed Securities pp. 121-152: Timothy J. Riddiough
Spinoffs and Information pp. 153-176: Michel A. Habib, D. Bruce Johnsen and Narayan Y. Naik

FOREWORD pp. 1-1: Anjan Thakor
Price, Financial Quality, and Capital Flows in Insurance Markets pp. 3-38: John Cummins and Patricia Danzon
Reputation and Financial Intermediation: An Empirical Investigation of the Impact of IPO Mispricing on Underwriter Market Value pp. 39-63: Vikram Nanda and Youngkeol Yun
Thin Markets, Asymmetric Information, and Mortgage-Backed Securities pp. 64-86: Edward Glaeser and Hedi D. Kallal

FOREWORD pp. 339-339: Anjan Thakor
A Model of Trading Volume with Tax-Induced Heterogeneous Valuation and Transaction Costs pp. 340-371: Roni Michaely, Jean-Luc Vila and Jiang Wang
Optimal Incorporation, Structure of Debt Contracts, and Limited-Recourse Project Financing pp. 372-408: Thomas Chemmanur and Kose John
Contagious Bank Runs: Evidence from the 1929-1933 Period pp. 409-423: Anthony Saunders and Berry Wilson

FOREWORD pp. 223-223: Stuart I. Greenbaum
FOREWORD pp. 224-224: Anjan Thakor
Optimal Transparency in a Dealer Market with an Application to Foreign Exchange pp. 225-254: Richard Lyons
Security Prices and Market Transparency pp. 255-283: Ananth Madhavan
Banking and Deposit Insurance as a Risk Transfer Mechanism pp. 284-304: Sangkyun Park
Debt Restructuring with Multiple Creditors and the Role of Exchange Offers pp. 305-336: Enrica Detragiache and Paolo Garella

Pricing Errors at the NYSE Open and Close: Evidence from Internationally Cross-Listed Stocks pp. 95-126: Margaret M. Forster and Thomas J. George
The Marketing of Closed-end Fund IPOs: Evidence from Transactions Data pp. 127-159: Kathleen Weiss Handley, Charles Lee and Paul L. Seguin
The Regulation of Bank Capital: Do Capital Standards Promote Bank Safety? pp. 160-183: David Besanko and George Kanatas
Competition for Deposits, Fragility, and Insurance pp. 184-216: Carmen Matutes and Xavier Vives

Tick Size, Spread, and Volume pp. 2-22: Hee-Joon Ahn, Charles Cao and Hyuk Choe
The Performance and Market Impact of Dual Trading: CME Rule 552 pp. 23-48: Eric C. Chang and Peter R. Loche
The Optimal Regulation of Insider Trading pp. 49-73: Jhinyoung Shin
Reinsurance, Taxes, and Efficiency: A Contingent Claims Model of Insurance Market Equilibrium pp. 74-93: James R. Garven and Henri Loubergé