View All Issues

Volume 29: Issue 2 (May 1974)


THE ECONOMIC AND FINANCE LITERATURE AND DECISION MAKING

Pages: 313-322  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03046.x  |  Cited by: 3

Sherman J. Maisel


ADDRESS BY THE HONORABLE GEORGE P. SCHULTZ THE SECRETARY OF THE TREASURY BEFORE A JOINT MEETING OF THE AMERICAN ECONOMIC ASSOCIATION AND THE AMERICAN FINANCE ASSOCIATION

Pages: 323-330  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03047.x  |  Cited by: 1


Session Topic: The Flow of Funds and Interest Rates—I: U.S. Financial Models

Pages: 331-347  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03048.x  |  Cited by: 0

Lawrence S. Ritter, James Duesenberry, Barry Bosworth


SHORT‐TERM FINANCIAL MODELS AT THE FEDERAL RESERVE BOARD

Pages: 349-357  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03049.x  |  Cited by: 0

James L. Pierce, Thomas D. Thomson


DISCUSSION

Pages: 358-363  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03050.x  |  Cited by: 0

Stephen M. Goldfeld, Allan H. Meltzer


Session Topic: Capital Asset Pricing Models in an International Context

Pages: 365-378  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03051.x  |  Cited by: 7

Michael Adler, B. H. Solnik


WORLD, NATIONAL, AND INDUSTRY FACTORS IN EQUITY RETURNS

Pages: 379-391  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03052.x  |  Cited by: 114

Donald R. Lessard


DISCUSSION

Pages: 392-398  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03053.x  |  Cited by: 7

Buckner A. Wallingford, James L. Bicksler


Session Topic: Individual Investors and Mutual Funds

Pages: 399-412  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03054.x  |  Cited by: 4

Jack L. Treynor, Fischer Black, Myron Scholes

Summary. The modern theory of finance suggests that most investors should put part or all of their money into a “market portfolio” mixed with borrowing or lending. Empirical evidence generally supports the theory, but there are some unanswered questions about the composition of the best market portfolio, about the apparent attractiveness of low risk stocks relative to high risk stocks, and about ways of minimizing transaction costs. Attempts to create a fund based on these principles and to make it available to a large number of investors have uncovered some important problems. Legal costs due to government regulation, the costs of managing a fund, and especially the costs of selling it are all much higher than one might expect. Despite these problems, efforts to create such funds seem destined for eventual success.


THE INDIVIDUAL INVESTOR: ATTRIBUTES AND ATTITUDES

Pages: 413-433  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03055.x  |  Cited by: 102

Ronald C. Lease, Wilbur G. Lewellen, Gary G. Schlarbaum


DISCUSSION

Pages: 434-438  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03056.x  |  Cited by: 0

John G. McDonald


Session Topic: Risk, Information and Capital Budgeting

Pages: 439-447  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03057.x  |  Cited by: 5

William F. Sharpe, Alexander A. Robichek, Richard A. Cohn


ON THE PRICING OF CORPORATE DEBT: THE RISK STRUCTURE OF INTEREST RATES*

Pages: 449-470  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03058.x  |  Cited by: 2482

Robert C. Merton


THE VALUE OF INFORMATION AND THE OPTIMAL GOVERNMENTAL GUARANTEE ON ITS AGENCIES' ISSUES

Pages: 471-484  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03059.x  |  Cited by: 1

Robert H. Edelstein


DISCUSSION

Pages: 485-492  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03060.x  |  Cited by: 6

John B. Long, Lawrence Fisher


Session Topic: Finance and Investment: Refereed Papers I

Pages: 493-498  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03061.x  |  Cited by: 0

Charles W. Haley, Terrence F. Martell, George C. Philippatos


STOCHASTIC DEMAND, OUTPUT AND THE COST OF CAPITAL

Pages: 499-506  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03062.x  |  Cited by: 6

Michael S. Long, George A. Racette


THE TOKYO STOCK EXCHANGE AND THE CAPITAL ASSET PRICING MODEL

Pages: 507-514  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03063.x  |  Cited by: 11

Sheila C. Lau, Stuart R. Quay, Carl M. Ramsey


PORTFOLIO ANALYSIS UNDER UNCERTAIN MEANS, VARIANCES, AND COVARIANCES

Pages: 515-522  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03064.x  |  Cited by: 107

Christopher B. Barry


DISCUSSION

Pages: 523-526  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03065.x  |  Cited by: 1

George C. Pinches


Session Topic: Finance and Investment: Refereed Papers II

Pages: 527-535  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03066.x  |  Cited by: 0

Eugene F. Brigham, Stuart I. Greenbaum, Mukhtar M. Ali


SYSTEMATIC RISK, FINANCIAL DATA, AND BOND RATING RELATIONSHIPS IN A REGULATED INDUSTRY ENVIRONMENT

Pages: 537-544  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03067.x  |  Cited by: 9

Ronald W. Melicher, David F. Rush


INVESTOR EVALUATION OF FOREIGN AND DOMESTIC RISK

Pages: 545-550  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03068.x  |  Cited by: 18

Alan K. Severn


THE PRICE ADJUSTMENT PROCESS OF BONDS TO RATING RECLASSIFICATIONS: A TEST OF BOND MARKET EFFICIENCY

Pages: 551-559  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03069.x  |  Cited by: 51

Steven Katz


DISCUSSION

Pages: 560-563  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03070.x  |  Cited by: 1

Victor L. Andrews


Session Topic: Corporate Finance and Capital Budgeting

Pages: 565-577  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03071.x  |  Cited by: 1

James Van Horn, William L. White


A PROGRAMMING APPROACH TO CORPORATE FINANCIAL MANAGEMENT

Pages: 579-599  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03072.x  |  Cited by: 22

STEWART C. MYERS, GERALD A. POGUE


CAPITAL BUDGETING OF RISKY PROJECTS WITH “IMPERFECT” MARKETS FOR PHYSICAL CAPITAL

Pages: 601-613  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03073.x  |  Cited by: 32

MARCUS C. BOGUE, RICHARD ROLL


DISCUSSION

Pages: 614-616  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03074.x  |  Cited by: 0

RICHARD S. BOWER


Session Topic: International Trade and Finance: Balance of Payments And International Investment

Pages: 617-630  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03075.x  |  Cited by: 0

LAWRENCE B. KRAUSE, KEITH JOHNSON, LAWRENCE R. KLEIN


THE BALANCE OF PAYMENTS AND POLICY MIX: SIMULATIONS BASED ON A U.S. MODEL

Pages: 631-654  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03076.x  |  Cited by: 0

PETER B. KENEN


THE TRADE EFFECTS OF DIRECT INVESTMENT

Pages: 655-676  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03077.x  |  Cited by: 15

Michael Adler, Guy V. G. Stevens


DISCUSSION

Pages: 677-682  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03078.x  |  Cited by: 1

C. FRED BERGSTEN, HELEN B. JUNZ


Session Topic: What Should Housing Policies be?

Pages: 683-698  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03079.x  |  Cited by: 0

ANTHONY DOWNS, JOHN F. KAIN


WHAT SHOULD U.S. HOUSING POLICIES BE?

Pages: 699-721  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03080.x  |  Cited by: 1

FRANK DE LEEUW


Miscellanea

Pages: 722-722  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03081.x  |  Cited by: 0


American Finance Association Business Proceedings

Pages: 723-723  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03082.x  |  Cited by: 0

Robert A. Kavesh


Report of the Executive Secretary and Treasurer, December 29, 1973

Pages: 723-725  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03083.x  |  Cited by: 0

Robert A. Kavesh


Report of the Managing Editor of theJournal of Finance; Covering the Year 1973

Pages: 725-727  |  Published: 5/1974  |  DOI: 10.1111/j.1540-6261.1974.tb03084.x  |  Cited by: 0

ALEXANDER A. ROBICHEK