Rodney L. White Center for Financial Research Working Papers

From Wharton School Rodney L. White Center for Financial Research
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31-89: Realized Returns and Defaults on Lower-Grade Bonds: The Cohort of 1977 and 1978 (Reprint 006)

Marshall E. Blume and Donald Keim

31-88: Linear Transformation of Asset Returns and the APT

Jevons C. Lee and Taychang Wang

31-87: Mechanisms, Multi-Lateral Incentive Compatibility, and the Core

Joseph Haubrich

30-91: Estimating Divisional Cost of Capital for Insurance Companies (Reprint 037)

Franklin Allen

30-89: Simple Binomial Processes as Diffusion Approximations in Financial Models (Reprint 003)

Daniel B. Nelson and Krishna Ramaswamy

30-88: Asymptotic Arbitrage Opportunities in Various Modes of Convergence and the Approximate Linear Pricing Relation in Asset Market

Jevons C. Lee and Taychang Wang

30-87: Program Trading and the Behavior of Stock Index Futures Prices

Craig A. MacKinlay and Krishna Ramaswamy

30-86: Corporate Dividend Payout Policy (Revised: 4-88)

Jean Crockett and Irwin Friend

3-99: The Social Security Trust Fund, the Riskless Interest Rate, and Capital Accumulation

Andrew Abel

3-98: The Declining Credit Quality of US Corporate Debt: Myth or Reality?

Marshall E. Blume, Felix Lim and A. Craig MacKinlay

3-97: Free Cash Flow, Optimal Contracting, and Takeovers

Eitan Goldman, Christopher Jones and Ron Kaniel

3-96: Quotes, Order Flow, and Price Discovery (Revision of 18-95) (Reprint 059)

Marshall E. Blume and Michael Goldstein

3-95: Precautionary Saving and Social Insurance

Robert Hubbard, Jonathan Skinner and Stephen Zeldes

3-94: Consumer Behavior and the Stickiness of CreditCard Interest Rates

Paul S. Calem and Loretta Mester

3-93: Portfolio Inefficiency and the Cross-Section of Mean Returns (Revised: 6-94)

Shmuel Kandel and Robert Stambaugh

3-92: The Monotonicity of the Term Premium: Another Look (Reprint 026)

Matthew Richardson, Paul Richardson and Tom Smith

3-91: Budget Balance Through Revenue or Spending Adjustments ? Some Historical Evidence for the United States (Reprint 013)

Henning Bohn

3-90: Self-Generating Trade and Rational Fads: The Response of Price to New Information

James Dow and Gary Gorton

3-89: Market Discipline and the Valuation of Bank Subordinated Debt

Gary Gorton and Anthony Santomero

3-88: Devaluations in an Overlapping Generations Economy

Jack D. Glen

3-87: Specification of the Joy of Giving: Insights from Altruism

Andrew Abel and Mark Warshawsky

3-86: Decision Intervals and Portfolio Strategy

S. Benninga and M. E. Blume

3-85: The Week-End Effect in Common Stock Returns: The International Evidence

Jeffrey Jaffe and R. Westerfield

3-84: Blume, Marshall E./Friend, Irwin = The Effect of a Reduction in Corporate Taxes on Investments in Riskfree and Risky Assets

Riskfree and Risky Assets

3-83: An Information Theory of Asset Price Distributions

Orlin J. Grabbe

3-82: Saving and After-Tax Rates of Return

Irwin Friend and Joel Hasbrouck

3-81: Effect of Inflation on the Profitability and Valuation of U.S. Corporations

Irwin Friend and Joel Hasbrouck

3-80: Evidence on the 'Tax Effects' of Inflation Under Historical Cost Accounting Methods

Nicholas J. Gonedes

3-79: Optimal Stabilization in a General Equilibrium Financial Model

Jeremy J. Siegel

3-78: Portfolio Diversification of NYSE Specialist Units

Hans Stoll

3-77: Stimulating Indexation

Nariman Behavesh and Athony M. Santomero

3-76: The Pricing of Capital Assets in a Multi-Period World

Marshall E. Blume

3-75: A Study of Credit Rationing in Japan

Yukio Rimbara and Anthony M. Santomero

3-74: Options and Efficiency

Stephen Ross

3-73: The Error Learning Hypothesis and the Term Structure of Interest Rates in Eurodollars

Anthony M. Santomero

m3-73: Financing the Needs of the Farm Credit System: Part I: Summary and Recommendations

Paul F. Smith

3-72: Some Aspects of the Performance of Non-Convertible Preferred Stocks

John Bildersee

3-71: Price Impacts of Block Trading on the NYSE

Alan Kraus and Hans Stoll

3-00: A Theory of Takeover Bidding

Bilge Yilmaz

29-99: An Empirical Analysis of Limit Order Markets

Burton Hollifield, Robert A. Miller and Patrik Sandas

29-94: Firm Performance and Mechanisms to Control Agency Problems between Managers and Shareholders

Anup Agrawal and Charles R. Knoeber

29-91: Quantity-Adjusting Options and Forward Contracts (Revision of 24-91) (Reprint 041)

David Babbel and Larry Eisenberg

29-89: Security Baskets and Index-Linked Securities

George Pennacchi and Gary Gorton

29-88: A General Theory of Arbitrage Pricing: When the Idiosyncratic Risks are Dependent and their Second Moments Do Not Exist

Jevons C. Lee and Taychang Wang

29-87: Stock Market Prices Do Not Follow Random Walks: Evidence from a Simple Specification Test (Revision of 5-87)

Andrew Lo and Craig A. MacKinlay

29-86: Determinants of Capital Structure for Closely-Held Versus Publicly-Held Corporations

Irwin Friend and Larry Lang

29-73: Security Valuation Formulae: Their Relationship to Estimates of the Risk-Return Trade-off

Daniel Rie

28-99: Choices Among Alternative Risk Management Strategies: Evidence from the Natural Gas Industry

Christopher Geczy, Bernadette A. Minton and Catherine Schrand

28-94: Managerial Compensation and the Threat of Takeover

Anup Agrawal and Charles R. Knoeber

28-92: Testing Inequality Restrictions Implied by Conditional Asset Pricing Models

Jacob Boudoukh, Matthew Richardson and Tom Smith