The Journal of Finance publishes leading research across all the major fields of finance. It is one of the most widely cited journals in academic finance, and in all of economics. Each of the six issues per year reaches over 8,000 academics, finance professionals, libraries, and government and financial institutions around the world. The journal is the official publication of The American Finance Association, the premier academic organization devoted to the study and promotion of knowledge about financial economics.
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DISCUSSION
Published: 07/01/1984 | DOI: 10.1111/j.1540-6261.1984.tb03664.x
JAMES L. BICKSLER
DISCUSSION
Published: 05/01/1976 | DOI: 10.1111/j.1540-6261.1976.tb01884.x
James L. Bicksler
An Economic Analysis of Interest Rate Swaps
Published: 07/01/1986 | DOI: 10.1111/j.1540-6261.1986.tb04527.x
JAMES BICKSLER, ANDREW H. CHEN
Interest rate swaps, a financial innovation in recent years, are based upon the principle of comparative advantage. An interest rate swap is a useful tool for active liability management and for hedging against interest rate risk. The purpose of this paper is to provide a simple economic analysis of interest rate swaps. Alternative uses of and the appropriate valuation procedure for interest rate swaps are described.
DISCUSSION
Published: 05/01/1972 | DOI: 10.1111/j.1540-6261.1972.tb00968.x
James L. Bicksler, Michael J. Brennan
The Integration of Insurance and Taxes in Corporate Pension Strategy
Published: 07/01/1985 | DOI: 10.1111/j.1540-6261.1985.tb05022.x
JAMES L. BICKSLER, ANDREW H. CHEN
This paper examines the implications of the joint effects of insurance and taxes for the optimal corporate pension strategy. It is shown that neither the “mini‐max” nor the “maxi‐min” strategy advocated by previous authors is necessarily best in corporate pension management. In the presence of capital market imperfections, the analysis via a single‐period contingent‐claims model indicates that optimal corporate pension strategy in both asset‐allocation and funding decisions can be a noncorner interior solution.
DISCUSSION
Published: 05/01/1974 | DOI: 10.1111/j.1540-6261.1974.tb03053.x
Buckner A. Wallingford, James L. Bicksler