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.
AFA members can log in to view full-text articles below.
View past issues
Search the Journal of Finance:
Search results: 19.
The Behavior of Eurocurrency Returns Across Different Holding Periods and Monetary Regimes
Published: 9/1990, Volume: 45, Issue: 4 | DOI: 10.1111/j.1540-6261.1990.tb02433.x | Cited by: 11
KAREN K. LEWIS
Recent empirical studies of the risk premium across foreign exchange and other asset markets such as equity and longer term bonds have found conflicting evidence about the latent variable model restrictions of the consumption‐based intertemporal capital asset pricing model. While studies using data for holding periods of one month or less generally reject the model, evidence using three‐month holding periods indicates that the model cannot be rejected when including the returns on long relative to short deposit rates. This paper investigates the sources of differences in results using returns on foreign exchange and Eurocurrency deposits at three different maturities.
Do Expected Shifts in Inflation Affect Estimates of the Long‐Run Fisher Relation?
Published: 3/1995, Volume: 50, Issue: 1 | DOI: 10.1111/j.1540-6261.1995.tb05172.x | Cited by: 110
MARTIN D. D. EVANS, KAREN K. LEWIS
Recent empirical studies suggest that nominal interest rates and expected inflation do not move together one‐for‐one in the long run, a finding at odds with many theoretical models. This article shows that these results can be deceptive when the process followed by inflation shifts infrequently. We characterize the shifts in inflation by a Markov switching model. Based upon this model's forecasts, we reexamine the long‐run relationship between nominal interest rates and inflation. Interestingly, we are unable to reject the hypothesis that in the long run nominal interest rates reflect expected inflation one‐for‐one.
CONSUMER PERCEPTION OF INCURRED INTEREST RATES: AN EMPIRICAL TEST OF THE EFFICACY OF THE TRUTH‐IN‐LENDING LAW
Published: 12/1971, Volume: 26, Issue: 5 | DOI: 10.1111/j.1540-6261.1971.tb01754.x | Cited by: 20
Lewis Mandell
SOME FACTORS IN THE GROWTH OF CONSUMER CREDIT
Published: 5/1956, Volume: 11, Issue: 2 | DOI: 10.1111/j.1540-6261.1956.tb00706.x | Cited by: 5
Robert E. Lewis
FINANCE AS AN INDUSTRY: A SIMPLE MODEL OF GROWTH*
Published: 3/1974, Volume: 29, Issue: 1 | DOI: 10.1111/j.1540-6261.1974.tb00053.x | Cited by: 0
Lewis J. Spellman
A NOTE ON THE INTEREST ELASTICITY OF THE TRANSACTIONS DEMAND FOR CASH*
Published: 9/1974, Volume: 29, Issue: 4 | DOI: 10.1111/j.1540-6261.1974.tb03092.x | Cited by: 0
Kenneth A. Lewis
Deposit Ceilings and the Efficiency of Financial Intermediation
Published: 3/1980, Volume: 35, Issue: 1 | DOI: 10.1111/j.1540-6261.1980.tb03475.x | Cited by: 3
LEWIS J. SPELLMAN
STOCK MARKET CAPITAL GAINS AND CONSUMPTION EXPENDITURES*
Published: 12/1973, Volume: 28, Issue: 5 | DOI: 10.1111/j.1540-6261.1973.tb01473.x | Cited by: 1
Lewis J. Rosen
THE ADEQUACY OF BANK EQUITIES
Published: 10/1947, Volume: 2, Issue: 2 | DOI: 10.1111/j.1540-6261.1947.tb00794.x | Cited by: 1
Lewis A. Froman
A Simple Algorithm for the Portfolio Selection Problem
Published: 3/1988, Volume: 43, Issue: 1 | DOI: 10.1111/j.1540-6261.1988.tb02589.x | Cited by: 12
ALAN L. LEWIS
The author presents a rapidly convergent algorithm to solve the general portfolio problem of maximizing concave utility functions subject to linear constraints. The algorithm is based on an iterative use of the Markowitz critical line method for solving quadratic programs. A simple example, taken from the theory of state‐contingent claims, is worked out in detail. For technical convergence results, the reader is referred to the appropriate mathematical programming literature.
CAN INDIVIDUAL INVESTORS BE INDUCED TO FURNISH MORE EQUITY CAPITAL?
Published: 6/1950, Volume: 5, Issue: 2 | DOI: 10.1111/j.1540-6261.1950.tb02479.x | Cited by: 0
Lewis A. Froman
THE AMERICAN FINANCE ASSOCIATION
Published: 4/1947, Volume: 2, Issue: 1 | DOI: 10.1111/j.1540-6261.1947.tb00784.x | Cited by: 0
Lewis A. Froman
The Effect of Bank Deregulation on Small Business: A Note
Published: 6/1983, Volume: 38, Issue: 3 | DOI: 10.1111/j.1540-6261.1983.tb02518.x | Cited by: 1
PETER L. STRUCK, LEWIS MANDELL
Do Market Prices Improve the Accuracy of Court Valuations in Chapter 11?
Published: 2/25/2022, Volume: 77, Issue: 2 | DOI: 10.1111/jofi.13111 | Cited by: 11
CEM DEMIROGLU, JULIAN FRANKS, RYAN LEWIS
The average difference between the court value and postemergence market value of newly issued stocks in Chapter 11 reorganizations exceeds 50%. We show that public dissemination of transactions in defaulted bonds reduces this difference by 23% and largely eliminates interclaimant wealth transfers. The effects of dissemination are only significant when the bonds are sufficiently traded around the court valuation date and when they receive significant amounts of postemergence equity, indicating that the bond's value is sensitive to the size and allocation of the pie. These findings imply that security prices have real effects: they improve the valuations of bankruptcy participants.
EMPIRICAL ISSUES IN THE DEMAND FOR CURRENCY: A MULTINATIONAL STUDY
Published: 9/1975, Volume: 30, Issue: 4 | DOI: 10.1111/j.1540-6261.1975.tb01022.x | Cited by: 0
Kenneth A. Lewis, Francis F. Breen
DISCUSSION
Published: 5/1977, Volume: 32, Issue: 2 | DOI: 10.1111/j.1540-6261.1977.tb03296.x | Cited by: 0
Lewis Mandell, Harold Black, Richard C. Aspinwall
THE COMPARATIVE OPERATING EFFICIENCY OF BLACK SAVINGS AND LOAN ASSOCIATIONS
Published: 5/1977, Volume: 32, Issue: 2 | DOI: 10.1111/j.1540-6261.1977.tb03294.x | Cited by: 4
Lewis J. Spellman, Alfred E. Osborne, William D. Bradford
An Incentive Approach to Banking Regulation
Published: 9/1993, Volume: 48, Issue: 4 | DOI: 10.1111/j.1540-6261.1993.tb04766.x | Cited by: 100
RONALD M. GIAMMARINO, TRACY R. LEWIS, DAVID E. M. SAPPINGTON
We examine the optimal design of a risk‐adjusted deposit insurance scheme when the regulator has less information than the bank about the inherent risk of the bank's assets (adverse selection), and when the regulator is unable to monitor the extent to which bank resources are being directed away from normal operations toward activities that lower asset quality (moral hazard). Under a socially optimal insurance scheme: (1) asset quality is below the first‐best level, (2) higher‐quality banks have larger asset bases and face lower capital adequacy requirements than lower‐quality banks, and (3) the probability of failure is equated across banks.
Utility Bond Rates and Tax Normalization
Published: 12/1979, Volume: 34, Issue: 5 | DOI: 10.1111/j.1540-6261.1979.tb00066.x | Cited by: 0
ERNST R. BERNDT, KAREN CHANT SHARP, G. CAMPBELL WATKINS