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Journal of Finance¶

  1. A Generalization of the Brennan‐Rubinstein Approach for the Pricing of Derivatives, 2003, António Cñmara
  2. A Monte Carlo Method for Optimal Portfolios, 2003, JĂ©rĂŽme B. Detemple; Ren Garcia; Marcel Rindisbacher
  3. An Empirical Analysis of Analysts' Target Prices: Short‐term Informativeness and Long‐term Dynamics, 2003, Alon Brav; Reuven Lehavy
  4. Analyzing the Analysts: Career Concerns and Biased Earnings Forecasts, 2003, Harrison Hong; Jeffrey D. Kubik
  5. Anticompetitive Financial Contracting: The Design of Financial Claims, 2003, Giacinta Cestone; Lucy White
  6. Asset Pricing with Conditioning Information: A New Test, 2003, Kevin Q. Wang
  7. Asset Trading Volume with Dynamically Complete Markets and Heterogeneous Agents, 2003, Kenneth L. Judd; Felix Kubler; Karl Schmedders
  8. Book Review, 2003, Moshe A. Milevsky
  9. Bookbuilding: How Informative Is the Order Book?, 2003, Francesca Cornelli; David Goldreich
  10. Capital Gains, Dividend Yields, and Expected Inflation, 2003, Eugene A. Pilotte
  11. Capital Structure and Financial Risk: Evidence from Foreign Debt Use in East Asia, 2003, George Allayannis; Gregory W. Brown; Leora F. Klapper
  12. Clearly Irrational Financial Market Behavior: Evidence from the Early Exercise of Exchange Traded Stock Options, 2003, Allen M. Poteshman; Vitaly Serbin
  13. Competition among Trading Venues: Information and Trading on Electronic Communications Networks, 2003, Michael J. Barclay; Terrence Hendershott; D. Timothy Mccormick
  14. Convertible Securities and Venture Capital Finance, 2003, Klaus M. Schmidt
  15. Corporate Board Composition, Protocols, and Voting Behavior: Experimental Evidence, 2003, Ann B. Gillette; Thomas H. Noe; Michael J. Rebello
  16. Corporate Financing: An Artificial Agent‐based Analysis, 2003, Thomas H. Noe; Michael J. Rebello; Jun Wang
  17. Cross‐Border Listings and Price Discovery: Evidence from U.S.‐Listed Canadian Stocks, 2003, Cheol S. Eun; Sanjiv Sabherwal
  18. Currency Orders and Exchange Rate Dynamics: An Explanation for the Predictive Success of Technical Analysis, 2003, Carol L. Osler
  19. Delegated Portfolio Management and Rational Prolonged Mispricing, 2003, Eitan Goldman; Steve L. Slezak
  20. Divestitures and Divisional Investment Policies, 2003, Amy Dittmar; Anil Shivdasani
  21. Dividend Taxes and Share Prices: Evidence from Real Estate Investment Trusts, 2003, William M. Getry; Deen Kemsley; Christopher J. Mayer
  22. Do Price Discreteness and Transactions Costs Affect Stock Returns? Comparing Ex‐Dividend Pricing before and after Decimalization, 2003, John R. Graham; Roni Michaely; Michael R. Roberts
  23. Do Spin‐offs Expropriate Wealth from Bondholders?, 2003, William F. Maxwell; Ramesh P. Rao
  24. Does Shareholder Composition Matter? Evidence from the Market Reaction to Corporate Earnings Announcements, 2003, Edith S. Hotchkiss; Deon Strickland
  25. DotCom Mania: The Rise and Fall of Internet Stock Prices, 2003, Eli Ofek; Matthew Richardson
  26. Dynamic Asset Allocation with Event Risk, 2003, Jun Liu; Francis A. Longstaff; Jun Pan
  27. Empirical Tests for Stochastic Dominance Efficiency, 2003, Thierry Post
  28. Entrenchment and Severance Pay in Optimal Governance Structures, 2003, Andres Almazan; Javier Suarez
  29. Equilibrium “Anomalies”, 2003, Michael F. Ferguson; Richard L. Shockley
  30. Equity Volatility and Corporate Bond Yields, 2003, John Y. Campbell; Glen B. Taksler
  31. Evaluation Periods and Asset Prices in a Market Experiment, 2003, Uri Gneezy; Arie Kapteyn; Jan Potters
  32. Evidence of Information Spillovers in the Production of Investment Banking Services, 2003, Lawrence M. Benveniste; Alexander Ljungqvist; William J. Wilhelm; Xiaoyun Yu
  33. Excessive Dollar Debt: Financial Development and Underinsurance, 2003, Ricardo J. Caballero; Arvind Krishnamurthy
  34. Family Firms, 2003, Mike Burkart; Fausto Panunzi; Andrei Shleifer
  35. Financial Development, Property Rights, and Growth, 2003, Stijn Claessens; Luc Laeven
  36. Financial Distress and Bank Lending Relationships, 2003, Sandeep Dahiya; Anthony Saunders; Anand Srinivasan
  37. Financing and Advising: Optimal Financial Contracts with Venture Capitalists, 2003, Catherine Casamatta
  38. Fischer Black Prize for 2003, 2003, Raghuram G. Rajan
  39. Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500, 2003, Ronald C. Anderson; David M. Reeb
  40. Good Day Sunshine: Stock Returns and the Weather, 2003, David Hirshleifer; Tyler Shumway
  41. Hedging in the Possible Presence of Unspanned Stochastic Volatility: Evidence from Swaption Markets, 2003, Rong Fan; Anurag Gupta; Peter Ritchken
  42. High‐Water Marks and Hedge Fund Management Contracts, 2003, William N. Goetzmann; Jonathan E. Ingersoll; Stephen A. Ross
  43. How Investors Interpret Past Fund Returns, 2003, Anthony W. Lynch; David K. Musto
  44. How Sensitive Is Investment to Cash Flow When Financing Is Frictionless?, 2003, Aydoឥan Alti
  45. IPO Pricing in the Dot‐com Bubble, 2003, Alexander Ljungqvist; William J. Wilhelm
  46. Idiosyncratic Risk Matters!, 2003, Amit Goyal; Pedro Santa‐Clara
  47. Incentive Compensation When Executives Can Hedge the Market: Evidence of Relative Performance Evaluation in the Cross Section, 2003, Gerald Garvey; Todd Milbourn
  48. Incentive Fees and Mutual Funds, 2003, Christopher R. Blake; Edwin J. Elton; Martin J. Gruber
  49. Institutional Investors and Executive Compensation, 2003, Jay C. Hartzell; Laura T. Starks
  50. Integration of Lending and Underwriting: Implications of Scope Economies, 2003, George Kanatas; Jianping Qi
  51. Internal versus External Financing: An Optimal Contracting Approach, 2003, Roman Inderst; Holger M. MĂŒller
  52. Intraday Price Formation in U.S. Equity Index Markets, 2003, Joel Hasbrouck
  53. Investment, Uncertainty, and Liquidity, 2003, Glenn W. Boyle; Graeme A. Guthrie
  54. Investor Protection and Firm Liquidity, 2003, Paul Brockman; Dennis Y. Chung
  55. Is the International Convergence of Capital Adequacy Regulation Desirable?, 2003, Viral V. Acharya
  56. Long‐run Performance after Stock Splits: 1927 to 1996, 2003, Jinho Byun; Michael S. Rozeff
  57. Managerial Incentives and Internal Capital Markets, 2003, Adolfo De Motta
  58. Market Maker Quotation Behavior and Pretrade Transparency, 2003, Yusif Simaan; Daniel G. Weaver; David K. Whitcomb
  59. Model Misspecification and Underdiversification, 2003, Raman Uppal; Tan Wang
  60. Modeling Sovereign Yield Spreads: A Case Study of Russian Debt, 2003, Darrell Duffie; Lasse Heje Pedersen; Kenneth J. Singleton
  61. Momentum Investing and Business Cycle Risk: Evidence from Pole to Pole, 2003, John M. Griffin; Xiuqing Ji; J. Spencer Martin
  62. Momentum and Reversals in Equity‐Index Returns During Periods of Abnormal Turnover and Return Dispersion, 2003, Robert Connolly; Chris Stivers
  63. New Evidence on the Market for Directors: Board Membership and Pennsylvania Senate Bill 1310, 2003, Jeffrey L. Coles; Chun‐Keung Hoi
  64. Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis, 2003, Michael L. Lemmon; Karl V. Lins
  65. Performance Incentives within Firms: The Effect of Managerial Responsibility, 2003, Rajesh K. Aggarwal; Andrew A. Samwick
  66. Presidential Address: Liquidity and Price Discovery, 2003, Maureen O'Hara
  67. Pseudo Market Timing and the Long‐Run Underperformance of IPOs, 2003, Paul Schultz
  68. Regulation Fair Disclosure and Earnings Information: Market, Analyst, and Corporate Responses, 2003, Warren Bailey; Haitao Li; Connie X. Mao; Rui Zhong
  69. Risk Management with Derivatives by Dealers and Market Quality in Government Bond Markets, 2003, Narayan Y. Naik; Pradeep K. Yadav
  70. Risk Reduction in Large Portfolios: Why Imposing the Wrong Constraints Helps, 2003, Ravi Jagannathan; Tongshu Ma
  71. Role of Speculative Short Sales in Price Formation: The Case of the Weekend Effect, 2003, Honghui Chen; Vijay Singal
  72. Rumors, 2003, Jos Van Bommel
  73. S&P 500 Index Additions and Earnings Expectations, 2003, Diane K. Denis; John J. Mcconnell; Alexei V. Ovtchinnikov; Yun Yu
  74. Shareholder Taxes in Acquisition Premiums: The Effect of Capital Gains Taxation, 2003, Benjamin C. Ayers; Craig E. Lefanowicz; John R. Robinson
  75. Spurious Regressions in Financial Economics?, 2003, Wayne E. Ferson; Sergei Sarkissian; Timothy T. Simin
  76. Stock Valuation and Learning about Profitability, 2003, Veronesi Pietro; ÄœuboĆĄ PĂĄstor
  77. Tax‐Induced Trading of Equity Securities: Evidence from the ADR Market, 2003, Christopher B. Barry; Sandra Renfro Callaghan
  78. The Behavior of Bid‐Ask Spreads and Volume in Options Markets during the Competition for Listings in 1999, 2003, Raymond P. H. Fishe; Patrick De Fontnouvelle; Jeffrey H. Harris
  79. The Determinants of Underpricing for Seasoned Equity Offers, 2003, Shane A. Corwin
  80. The Dynamics of Institutional and Individual Trading, 2003, John M. Griffin; Jeffrey H. Harris; Selim Topaloglu
  81. The Finite Moment Log Stable Process and Option Pricing, 2003, Peter Carr; Liuren Wu
  82. The Impact of Jumps in Volatility and Returns, 2003, BjĂžrn Eraker; Michael Johannes; Nicholas Polson
  83. The Level and Persistence of Growth Rates, 2003, Louis K. C. Chan; Jason Karceski; Josef Lakonishok
  84. The Presidential Puzzle: Political Cycles and the Stock Market, 2003, Pedro Santa‐Clara; Rossen Valkanov
  85. The Quiet Period Goes out with a Bang, 2003, Daniel J. Bradley; Bradford D. Jordan; Jay R. Ritter
  86. The Really Long‐Run Performance of Initial Public Offerings: The Pre‐Nasdaq Evidence, 2003, Paul A. Gompers; Josh Lerner
  87. The Term Structure with Semi‐credible Targeting, 2003, Richard Bass; Heber Farnsworth
  88. The Value Spread, 2003, Randolph B. Cohen; Christopher Polk; Tuomo Vuolteenaho
  89. The Wealth Effects of Repurchases on Bondholders, 2003, William F. Maxwell; Clifford P. Stephens
  90. Too Busy to Mind the Business? Monitoring by Directors with Multiple Board Appointments, 2003, Stephen P. Ferris; Murali Jagannathan; A. C. Pritchard
  91. Trade Credit, Financial Intermediary Development, and Industry Growth, 2003, Raymond Fisman; Inessa Love
  92. Value versus Glamour, 2003, Jennifer Conrad; Michael Cooper; Gautam Kaul
  93. What Type of Process Underlies Options? A Simple Robust Test, 2003, Peter Carr; Liuren Wu
  94. What if Trading Location Is Different from Business Location? Evidence from the Jardine Group, 2003, Kalok Chan; Allaudeen Hameed; Sie Ting Lau
  95. Why Do Managers Diversify Their Firms? Agency Reconsidered, 2003, Rajesh K. Aggarwal; Andrew A. Samwick

Journal of Financial Economics¶

  1. A barrier option framework for corporate security valuation, 2003, Paul Brockman; H. J. Turtle
  2. A closing call's impact on market quality at Euronext Paris, 2003, Michael S. Pagano; Robert A. Schwartz
  3. A multivariate model of strategic asset allocation, 2003, John Y. Campbell; Yeung Lewis Chan; Luis M. Viceira
  4. Allocation of initial public offerings and flipping activity, 2003, Reena Aggarwal
  5. Allocations, adverse selection, and cascades in IPOs: Evidence from the Tel Aviv Stock Exchange, 2003, Yakov Amihud; Shmuel Hauser; Amir Kirsh
  6. An examination of own account trading by dual traders in futures markets, 2003, Sugato Chakravarty; Kai Li
  7. Arbitrage risk and the book-to-market anomaly, 2003, Ashiq Ali; Lee-Seok Hwang; Mark A. Trombley
  8. Boundaries of the firm: evidence from the banking industry, 2003, James A. Brickley; James S. Linck; Clifford Jr. Smith
  9. Breaking up is hard to do? An analysis of termination fee provisions and merger outcomes, 2003, Thomas W. Bates; Michael L. Lemmon
  10. CEO reputation and stock-based compensation, 2003, Todd T. Milbourn
  11. Capital structure and product markets interactions: evidence from business cycles, 2003, Murillo Campello
  12. Capital structure choice: macroeconomic conditions and financial constraints, 2003, Robert A. Korajczyk; Amnon Levy
  13. China share issue privatization: the extent of its success, 2003, Qian Sun; Wilson H. S. Tong
  14. Concealing and confounding adverse signals: insider wealth-maximizing behavior in the IPO process, 2003, James S. Ang; James C. Brau
  15. Control as a motivation for underpricing: a comparison of dual and single-class IPOs, 2003, Scott B. Smart; Chad J. Zutter
  16. Control benefits and CEO discipline in automatic bankruptcy auctions, 2003, B. Espen Eckbo; Karin S. Thorburn
  17. Corporate governance and firm profitability: evidence from Korea before the economic crisis, 2003, Sung Wook Joh
  18. Corrigendum to "Equilibrium and welfare in markets with financially constrained arbitrageurs" [J. Financial Economics 66 (2002) 361], 2003, Denis Gromb; Dimitri Vayanos
  19. Cronyism and capital controls: evidence from Malaysia, 2003, Simon Johnson; Todd Mitton
  20. Culture, openness, and finance, 2003, Rene M. Stulz; Rohan Williamson
  21. Debtor-in-possession financing and bankruptcy resolution: Empirical evidence, 2003, Sandeep Dahiya; Kose John; Manju Puri; Gabriel Ramirez
  22. Discounting and underpricing in seasoned equity offers, 2003, Oya Altinkilic; Robert S. Hansen
  23. Divisional diversity and the conglomerate discount: evidence from spinoffs, 2003, Timothy R. Burch; Vikram Nanda
  24. Do dealer firms manage inventory on a stock-by-stock or a portfolio basis?, 2003, Narayan Y. Naik; Pradeep K. Yadav
  25. Do equity financing cycles matter? evidence from biotechnology alliances, 2003, Josh Lerner; Hilary Shane; Alexander Tsai
  26. Dynamic derivative strategies, 2003, Jun Liu; Jun Pan
  27. Earnings management and investor protection: an international comparison, 2003, Christian Leuz; Dhananjay Nanda; Peter D. Wysocki
  28. Executive rank, pay and project selection, 2003, John M. Barron; Glen R. Waddell
  29. Executive stock option repricing, internal governance mechanisms, and management turnover, 2003, N. K. Chidambaran; Nagpurnanand R. Prabhala
  30. Finance, investment, and growth, 2003, Wendy Carlin; Colin Mayer
  31. Firms and their distressed banks: lessons from the Norwegian banking crisis, 2003, Dag Michalsen; Steven Ongena; David C. Smith
  32. Founding family ownership and the agency cost of debt, 2003, Ronald C. Anderson; Sattar A. Mansi; David M. Reeb
  33. Governance and boards of directors in closed-end investment companies, 2003, Larry Y. Dann; Diane Del Guercio; M. Megan Partch
  34. How do family strategies affect fund performance? When performance-maximization is not the only game in town, 2003, Massimo Massa
  35. How much do firms hedge with derivatives?, 2003, Wayne Guay; S. P Kothari
  36. Institutional trading and alternative trading systems, 2003, Jennifer Conrad; Kevin M. Johnson; Sunil Wahal
  37. Law, endowments, and finance, 2003, Thorsten Beck; Asli Demirguc-Kunt; Ross Levine
  38. Likelihood-based specification analysis of continuous-time models of the short-term interest rate, 2003, Garland B. Durham
  39. Long-horizon regressions: theoretical results and applications, 2003, Rossen Valkanov
  40. News related to future GDP growth as a risk factor in equity returns, 2003, Maria Vassalou
  41. Paper millionaires: how valuable is stock to a stockholder who is restricted from selling it?, 2003, Matthias Kahl; Jun Liu; Francis A. Longstaff
  42. Payment for order flow, 2003, Christine A. Parlour; Uday Rajan
  43. Quote-based competition and trade execution costs in NYSE-listed stocks, 2003, Hendrik Bessembinder
  44. Stock market driven acquisitions, 2003, Andrei Shleifer; Robert W. Vishny
  45. Stock price reaction to news and no-news: drift and reversal after headlines, 2003, Wesley S. Chan
  46. Style investing, 2003, Nicholas Barberis; Andrei Shleifer
  47. Takeover bids and target directors' incentives: the impact of a bid on directors' wealth and board seats, 2003, Jarrad Harford
  48. Termination fees in mergers and acquisitions, 2003, Micah S. Officer
  49. Testing the pecking order theory of capital structure, 2003, Murray Z. Frank; Vidhan K. Goyal
  50. The calendar structure of risk and expected returns on stocks and bonds, 2003, Joseph P. Ogden
  51. The choice among bank debt, non-bank private debt, and public debt: evidence from new corporate borrowings, 2003, David J. Denis; Vassil T. Mihov
  52. The economic value of volatility timing using "realized" volatility, 2003, Jeff Fleming; Chris Kirby; Barbara Ostdiek
  53. The great reversals: the politics of financial development in the twentieth century, 2003, Raghuram G. Rajan; Luigi Zingales
  54. The marketing role of IPOs: evidence from internet stocks, 2003, Elizabeth Demers; Katharina Lewellen
  55. The maturity of debt issues and predictable variation in bond returns, 2003, Malcolm Baker; Robin Greenwood; Jeffrey Wurgler
  56. The personal-tax advantages of equity, 2003, Richard C. Green; Burton Hollifield
  57. The value of corporate voting rights and control: A cross-country analysis, 2003, Tatiana Nenova
  58. Universal option valuation using quadrature methods, 2003, Ari D. Andricopoulos; Peter W. Duck; David P. Newton; Martin Widdicks
  59. Valuation effects of bank financing in acquisitions, 2003, Anu Bharadwaj; Anil Shivdasani
  60. Voting with their feet: institutional ownership changes around forced CEO turnover, 2003, Robert Parrino; Richard W. Sias; Laura T. Starks
  61. Why does IPO volume fluctuate so much?, 2003, Michelle Lowry

Review of Financial Studies¶

  1. A New Approach to Measuring Financial Contagion, 2003, Kee-Hong Bae; G. Andrew Karolyi; René M. Stulz
  2. An Analysis of Covariance Risk and Pricing Anomalies, 2003, Tobias J. Moskowitz
  3. Auctions vs. Bookbuilding and the Control of Underpricing in Hot IPO Markets, 2003, FranĂĄois Derrien; Kent L. Womack
  4. Cross-Subsidies, External Financing Constraints, and the Contribution of the Internal Capital Market to Firm Value, 2003, Matthew T. Billett
  5. Debt Maturity and the Effects of Growth Opportunities and Liquidity Risk on Leverage, 2003, Shane A. Johnson
  6. Delta-Hedged Gains and the Negative Market Volatility Risk Premium, 2003, Gurdip Bakshi; Nikunj Kapadia
  7. Differences of Opinion, Short-Sales Constraints, and Market Crashes, 2003, Harrison Hong; Jeremy C. Stein
  8. Dynamic Equilibrium with Liquidity Constraints, 2003, JĂ©rĂŽme Detemple; Angel Serrat
  9. Employee Reload Options: Pricing, Hedging, and Optimal Exercise, 2003, Philip H. Dybvig; Mark Loewenstein
  10. Equilibrium Investment Strategies and Output Price Behavior: A Real-Options Approach, 2003, Felipe L. Aguerrevere
  11. Financial Development and Financing Constraints: International Evidence from the Structural Investment Model, 2003, Inessa Love
  12. Fundamental Properties of Bond Prices in Models of the Short-Term Rate, 2003, Antonio Mele
  13. Global Integration in Primary Equity Markets: The Role of U.S. Banks and U.S. Investors, 2003, Tim Jenkinson; William J. Wilhelm, Jr.; Alexander P. Ljungqvist
  14. Greener Pastures and the Impact of Dynamic Institutional Preferences, 2003, James A. Bennett
  15. Incomplete Consumption Risk Sharing and Currency Risk Premiums, 2003, Sergei Sarkissian
  16. Informal Financial Networks: Theory and Evidence, 2003, Mark J. Garmaise
  17. Information Technology and Financial Services Competition, 2003, Robert Hauswald; Robert Marquez
  18. Institutional Liquidity Needs and the Structure of Monitored Finance, 2003, Andrew Winton
  19. Liquidity-Based Competition for Order Flow, 2003, Christine A. Parlour; Duane J. Seppi
  20. Managerial Compensation and the Market Reaction to Bank Loans, 2003, Andres Almazan; Javier Suarez
  21. Market Making with Costly Monitoring: An Analysis of the SOES Controversy, 2003, Thierry Foucault; Ailsa Röell; Patrik SandÄs
  22. Nonlinear Mean Reversion in the Short-Term Interest Rate, 2003, Christopher S. Jones
  23. Optimal Contracts in a Continuous-Time Delegated Portfolio Management Problem, 2003, Hui Ou-Yang
  24. Order Preferencing and Market Quality on U.S. Equity Exchanges, 2003, Mark A. Peterson; Erik R. Sirri
  25. Price Discovery and Trading After Hours, 2003, Michael J. Barclay
  26. Raids, Rewards, and Reputations in the Market for Managerial Talent, 2003, C. Edward Fee
  27. Real Flexibility and Financial Structure: An Empirical Analysis, 2003, Peter Mackay
  28. Return Distributions and Improved Tests of Asset Pricing Models, 2003, Keith Vorkink
  29. Risk Adjustment and Trading Strategies, 2003, Dong-Hyun Ahn; Jennifer Conrad; Robert F. Dittmar
  30. Statistical Arbitrage and Securities Prices, 2003, Oleg Bondarenko
  31. Stochastic Discount Factor Bounds with Conditioning Information, 2003, Wayne E. Ferson; Andrew F. Siegel
  32. Stock Return Characteristics, Skew Laws, and the Differential Pricing of Individual Equity Options, 2003, Gurdip Bakshi; Nikunj Kapadia; Dilip Madan
  33. Taxes and Corporate Finance: A Review, 2003, John R. Graham
  34. Term Structure Dynamics in Theory and Reality, 2003, Qiang Dai; Kenneth Singleton
  35. The Design of Financial Policies in Corporate Spin-offs, 2003, Vikas Mehrotra
  36. The Role of Lockups in Initial Public Offerings, 2003, Alon Brav; Paul A. Gompers
  37. The Role of Trading Halts in Monitoring a Specialist Market, 2003, Roger Edelen; Simon Gervais
  38. Underwriter Certification and Japanese Seasoned Equity Issues, 2003, John W. Cooney; Hideaki Kiyoshi Kato; James S. Schallheim