Journal: The Journal of Finance

Found 93 papers in total
A Mean-Variance Benchmark for Intertemporal Portfolio Theory
A Mean-Variance Benchmark for Intertemporal Portfolio Theory
2014,
Mean‐variance portfolio theory can apply to streams of payoffs such as...
Product Market Threats, Payouts, and Financial Flexibility
Product Market Threats, Payouts, and Financial Flexibility
2014,
We examine how product market threats influence firm payout policy and cash holdings....
Sources of Entropy in Representative Agent Models
Sources of Entropy in Representative Agent Models
2014,
We propose two data‐based performance measures for asset pricing models and...
Strategic Asset Allocation in Money Management
Strategic Asset Allocation in Money Management
2014,
This paper analyzes the dynamic portfolio choice implications of strategic interaction...
Informed Trading through the Accounts of Children
Informed Trading through the Accounts of Children
2014,
This study shows that the guardians behind underaged accounts are successful at...
Do Peer Firms Affect Corporate Financial Policy?
Do Peer Firms Affect Corporate Financial Policy?
2014,
We show that peer firms play an important role in determining corporate capital...
Who Writes the News? Corporate Press Releases during Merger Negotiations
Who Writes the News? Corporate Press Releases during Merger Negotiations
2014,
Firms have an incentive to manage media coverage to influence their stock prices...
Asset Pricing with Dynamic Margin Constraints
Asset Pricing with Dynamic Margin Constraints
2014,
This paper provides a novel theoretical analysis of how endogenous time‐varying...
Mergers and Acquisitions Accounting and the Diversification Discount
Mergers and Acquisitions Accounting and the Diversification Discount
2014,
q‐based measures of the diversification discount are biased upward by mergers...
An Anatomy of Commodity Futures Risk Premia
An Anatomy of Commodity Futures Risk Premia
2014,
We identify two types of risk premia in commodity futures returns: spot premia related...
Information Disclosure and Corporate Governance
Information Disclosure and Corporate Governance
2012,
Public policy discussions typically favor greater corporate disclosure as a way to...
Family-Controlled Firms and Informed Trading: Evidence from Short Sales
Family-Controlled Firms and Informed Trading: Evidence from Short Sales
2012,
We investigate the relation between organization structure and the information content...
Political Uncertainty and Corporate Investment Cycles
Political Uncertainty and Corporate Investment Cycles
2012,
We document cycles in corporate investment corresponding with the timing of national...
Why Does the Law Matter? Investor Protection and Its Effects on Investment, Finance, and Growth
Why Does the Law Matter? Investor Protection and Its Effects on Investment, Finance, and Growth
2012,
Investor protection is associated with greater investment sensitivity to q and lower...
External Networking and Internal Firm Governance
External Networking and Internal Firm Governance
2012,
We use panel data on S&P 1500 companies to identify external network connections...
When It Pays to Pay Your Investment Banker: New Evidence on the Role of Financial Advisors in M&As
When It Pays to Pay Your Investment Banker: New Evidence on the Role of Financial Advisors in M&As
2012,
We provide new evidence on the role of financial advisors in M&As. Contrary to...
The Power of Voice: Managerial Affective States and Future Firm Performance
The Power of Voice: Managerial Affective States and Future Firm Performance
2012,
We measure managerial affective states during earnings conference calls by analyzing...
Tiebreaker: Certification and Multiple Credit Ratings
Tiebreaker: Certification and Multiple Credit Ratings
2012,
This paper explores the economic role credit rating agencies play in the corporate...
The Value of Investment Banking Relationships: Evidence from the Collapse of Lehman Brothers
The Value of Investment Banking Relationships: Evidence from the Collapse of Lehman Brothers
2012,
We examine the long‐standing question of whether firms derive value from...
The Credit Ratings Game
The Credit Ratings Game
2012,
The collapse of AAA‐rated structured finance products in 2007 to 2008 has...
Institutional Trade Persistence and Long-Term Equity Returns
Institutional Trade Persistence and Long-Term Equity Returns
2011,
Recent studies show that single‐quarter institutional herding positively...
The Interim Trading Skills of Institutional Investors
The Interim Trading Skills of Institutional Investors
2011,
Using a large proprietary database of institutional trades, this paper examines the...
Local Dividend Clienteles
Local Dividend Clienteles
2011,
We exploit demographic variation to identify the effect of dividend demand on...
Security Issue Timing: What Do Managers Know, and When Do They Know It?
Security Issue Timing: What Do Managers Know, and When Do They Know It?
2011,
We study put option sales on company stock by large firms. An often‐cited...
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