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Volume 35: Issue 4 (September 1980)


Front Matter

Pages: i-vi  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb00401.x  |  Cited by: 0


Back Matter

Pages: vii-xvii  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb00402.x  |  Cited by: 0


Information Production, Market Signalling, and the Theory of Financial Intermediation

Pages: 863-882  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03506.x  |  Cited by: 188

TIM S. CAMPBEL, WILLIAM A. KRACAW


Stationarity of Market Risk: Random Coefficients Tests for Individual Stocks

Pages: 883-896  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03507.x  |  Cited by: 70

SHYAM SUNDER


Co-Skewness and Capital Asset Pricing

Pages: 897-913  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03508.x  |  Cited by: 113

IRWIN FRIEND, RANDOLPH WESTERFIELD


On The Direction of Preference for Moments of Higher Order Than The Variance

Pages: 915-919  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03509.x  |  Cited by: 276

ROBERT C. SCOTT, PHILIP A. HORVATH


Stock Market Return Expectations: Some General Properties

Pages: 921-931  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03510.x  |  Cited by: 18

JOSEF LAKONISHOK

This paper examines how and how well do leading economists forecast stock market returns. This question is fundamental in finance, since the Capital Asset Pricing foundation rests upon assumptions about the properties of investors' expectations for stock market returns. The results reveal that economists' expectations of market returns as exemplified in Livingston's data do not meet the necessary conditions of efficiency. It should be noted however, that in later period some improvement in the quality of economists' forecasts was observed.


Predictive Ability and Descriptive Validity of Earnings Forecasting Models

Pages: 933-949  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03511.x  |  Cited by: 5

BENOÎT DESCHAMPS, DILEEP R. MEHTA


Affiliated Bank Performance and the Simultaneity of Financial Decision-Making

Pages: 951-957  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03512.x  |  Cited by: 6

DUANE B. GRADDY, REUBEN KYLE

The remarkable growth of bank holding companies (BHCs) during the last decade has aroused a great deal of interest and controversy among academic economists and bank regulators. One of the important issues discussed has been the impact of holding company affiliation on the operating performance of the acquired banks. Subsequent empirical testing of the question has produced a wide array of results. Nevertheless, a recent survey of the literature by the staff of the Federal Reserve Board [18] concluded that while not entirely unambiguous, the findings are “relatively consistent and conclusive.” Such a sweeping generalization seems premature at best.


A Microeconomic Model of Federal Home Loan Mortgage Corporation Activity

Pages: 959-971  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03513.x  |  Cited by: 1

KENNETH T. ROSEN, DAVID E. BLOOM


Relationships Between the Two Sides of the Balance Sheet: A Canonical Correlation Analysis

Pages: 973-980  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03514.x  |  Cited by: 18

JOHN D. STOWE, COLLIN J. WATSON, TERRY D. ROBERTSON


The Cost of Capital and U.S. Capital Investment: A Test of Alternative Concepts

Pages: 981-999  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03515.x  |  Cited by: 1

J. WALTER ELLIOTT


An Analysis of Risk and Return Characteristics of Corporate Bankruptcy Using Capital Market Data

Pages: 1001-1016  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03516.x  |  Cited by: 62

JOSEPH AHARONY, CHARLES P. JONES, ITZHAK SWARY


Ratio Stability and Corporate Failure

Pages: 1017-1026  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03517.x  |  Cited by: 72

ISMAEL G. DAMBOLENA, SARKIS J. KHOURY


Nontransferable Interest-Bearing National Debt

Pages: 1027-1031  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03518.x  |  Cited by: 2

JOHN BRYANT


Corporate Debt and Corporate Taxes: An Extension

Pages: 1033-1037  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03519.x  |  Cited by: 20

THOMAS E. CONINE


Back on the Track with the Efficient Markets Hypothesis

Pages: 1039-1043  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03520.x  |  Cited by: 10

ROBERT L. LOSEY, JOHN C. TALBOTT


On Forecasting Long-Term Interest Rates: Is the Success of the No-Change Prediction Surprising?

Pages: 1045-1047  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03521.x  |  Cited by: 2

JAMES E. PESANDO


Econometric Models and Current Interest Rates: How Well Do They Predict Future Rates-A Reply

Pages: 1049-1050  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03522.x  |  Cited by: 0

J. WALTER ELLIOTT, J. R. BAIER


Future Investment Opportunities and the Value of the Call Provision on a Bond: Comment

Pages: 1051-1054  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03523.x  |  Cited by: 4

VAROUJ A. AIVAZIAN, JEFFREY L. CALLEN


Future Investment Opportunities and the Value of the Call Provision on a Bond: Reply

Pages: 1055-1056  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03524.x  |  Cited by: 2

ZVI BODIE, ROBERT A. TAGGART


Book Reviews

Pages: 1057-1068  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03525.x  |  Cited by: 0

Book reviewed in this article:


Miscellanea

Pages: 1069-1069  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03526.x  |  Cited by: 0


STYLE INSTRUCTIONS

Pages: 1070-1070  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03527.x  |  Cited by: 0


SOUTHWESTERN FINANCE ASSOCIATION CALL FOR PAPERS

Pages: 1071-1071  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03528.x  |  Cited by: 12


FINANCIAL PLANNING

Pages: 1072-1072  |  Published: 9/1980  |  DOI: 10.1111/j.1540-6261.1980.tb03529.x  |  Cited by: 0