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Volume 33: Issue 2 (May 1978)


THE INSIGNIFICANCE OF BANKRUPTCY COSTS TO THE THEORY OF OPTIMAL CAPITAL STRUCTURE

Pages: 383-393  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04855.x  |  Cited by: 205

Robert A. Haugen, Lemma W. Senbet


THE EQUIVALENCE OF ALTERNATIVE MEAN‐VARIANCE CAPITAL BUDGETING MODELS

Pages: 395-401  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04856.x  |  Cited by: 8

Lemma W. Senbet, Howard E. Thompson


EVALUATING INVESTMENTS IN ACCOUNTS RECEIVABLE: A WEALTH MAXIMIZING FRAMEWORK

Pages: 403-412  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04857.x  |  Cited by: 46

Yong H. Kim, Joseph C. Atkins


CAPITAL MARKETS AND THE SHORT RUN BEHAVIOR OF LIFE CYCLE SAVERS

Pages: 413-428  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04858.x  |  Cited by: 12

Walter Dolde


THE COMMON‐STOCK‐PORTFOLIO PERFORMANCE RECORD OF INDIVIDUAL INVESTORS: 1964–70

Pages: 429-441  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04859.x  |  Cited by: 40

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


THE PERFORMANCE OF THE BRITISH INVESTMENT TRUST INDUSTRY

Pages: 443-455  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04860.x  |  Cited by: 9

James R. F. Guy


ESTIMATION OF TIME‐VARYING SYSTEMATIC RISK AND PERFORMANCE FOR MUTUAL FUND PORTFOLIOS: AN APPLICATION OF SWITCHING REGRESSION

Pages: 457-475  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04861.x  |  Cited by: 36

Stanley J. Kon, Frank C. Jen


COMMISSION COST STRUCTURE: SHIFTS AND SCALE ECONOMIES

Pages: 477-486  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04862.x  |  Cited by: 10

Robert O. Edmister


MARKETPLACE ORGANIZATION AND MARKETABILITY: NASDAQ, THE STOCK EXCHANGE, AND THE NATIONAL MARKET SYSTEM

Pages: 487-503  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04863.x  |  Cited by: 44

James L. Hamilton


VALUATION CONSEQUENCES OF CASH TENDER OFFERS

Pages: 505-516  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04864.x  |  Cited by: 50

Donald R. Kummer, J. Ronald Hoffmeister


PORTFOLIO THEORY AND THE PROBLEM OF FOREIGN EXCHANGE RISK

Pages: 517-534  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04865.x  |  Cited by: 30

John H. Makin


A PORTFOLIO—BALANCE MODEL OF CORPORATE WORKING CAPITAL

Pages: 535-552  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04866.x  |  Cited by: 2

Edward E. Yardeni


ORDERING UNCERTAIN OPTIONS WITH BORROWING AND LENDING

Pages: 553-574  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04867.x  |  Cited by: 63

Haim Levy, Yoram Kroll


NONHOMOGENEOUS EXPECTATIONS AND INFORMATION IN THE CAPITAL ASSET MARKET

Pages: 575-587  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04868.x  |  Cited by: 6

Ramon Rabinovitch, Joel Owen


PORTFOLIO SELECTION IN AN ECONOMY WITH MARKETABILITY AND SHORT SALES RESTRICTIONS

Pages: 589-601  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04869.x  |  Cited by: 6

Ney O. Brito


MARKET RISK ADJUSTMENT IN PROJECT VALUATION

Pages: 603-616  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04870.x  |  Cited by: 87

George M. Constantinides


THE PRICING OF OPTIONS WITH STOCHASTIC DIVIDEND YIELD

Pages: 617-625  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04871.x  |  Cited by: 38

Robert Geske

A formula is derived in discrete time for pricing options when the underlying stock has a stochastic dividend yield. The result implies that regarding the dividend yield as certain when it is not results in misestimation of the variance of the underlying stock. Comparative statics indicate that this adjustment could diminish a bias of the Black‐Scholes model. This model systematically underprices deep‐out‐of‐the‐money options. A numerical example demonstrates that this stochastic adjustment may be more important for longer‐lived options and warrants.


INTEREST RATE RISK AND SYSTEMATIC RISK: AN INTERPRETATION

Pages: 626-630  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04872.x  |  Cited by: 0

Albert R. Eddy


THE PREDICTABILITY OF REAL PORTFOLIO RISK LEVELS

Pages: 631-639  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04873.x  |  Cited by: 11

Robert C. Klemkosky, Terry S. Maness


BLOCK RECURSIVE SYSTEMS IN ASSET PRICING MODELS: AN EXTENSION

Pages: 640-644  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04874.x  |  Cited by: 1

Cheng F. Lee, William P. Lloyd


AN ANALYTIC APPROACH TO SENSITIVITY ANALYSIS OF THE INTERNAL RATE OF RETURN MODEL

Pages: 645-649  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04875.x  |  Cited by: 2

Frank S. T. Hsiao, W. James Smith


TAX SHIELD VALUATION AND THE CAPITAL STRUCTURE DECISION

Pages: 650-656  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04876.x  |  Cited by: 14

Dwayne Wrightsman


VALUATION OF FINANCIAL LEASE CONTRACTS: A NOTE

Pages: 657-669  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04877.x  |  Cited by: 37

Julian R. Franks, Stewart D. Hodges


SYNERGISM IN MERGERS: SOME BRITISH RESULTS*

Pages: 670-672  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04878.x  |  Cited by: 7

Michael Firth


BOOK REVIEWS

Pages: 673-689  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04879.x  |  Cited by: 0

Book reviewed in this article:


MISCELLANEA

Pages: 691-692  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04880.x  |  Cited by: 0


STYLE INSTRUCTIONS

Pages: 693-693  |  Published: 5/1978  |  DOI: 10.1111/j.1540-6261.1978.tb04881.x  |  Cited by: 0