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: 280

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: 9

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: 53

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: 41

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: 12

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: 37

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: 11

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: 68

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: 69

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: 33

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: 87

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: 8

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: 139

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: 41

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: 15

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: 15

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: 41

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

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Book reviewed in this article:The Future of Social Security. By Alicia H. Munnell.An Econometric Model of the Life Insurance Sector of the U.S. Economy. By J. David Cummins.Inflation Accounting, a Guide for the Accountant and Financial Analyst. By Sidney Davidson, Clyde P. Stickney, and Roman L. Weil.A History of Interest Rates, Second edition. By Sidney Homer.When To Sell. By Justin Mamis and Robert Mamis.How To Make Money In Listed Options. By Lin Tso.Handbook of Wealth Management. By Leo Barnes and Stephen Feldman.You can Still Make It in the Market. by Nicolas Darvas.The Complete Bond Book: A Guide to All Types of Fixed‐Income Securities. By David M. Darst.The Formation and Stocks of Total Capital. By John W. Kendrick.Inflation. By John Flemming.

MISCELLANEA

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

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STYLE INSTRUCTIONS

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

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