Table Of Content

index to Volume 64 General Index The Agency Costs of Free Cash Flow: Acquisition Activ- ity and Equity Issues Steven V. Mann and Neil W. Sicherman The Aggregate and Distributional Effects of the Tax Re- form Act of 1986 on Firm Valuation Dan Givoly and Carla Hayn Changes in the Standard and Poor’s 500 List Upinder Dhillon and Herb Johnson Empirical Tests of the Bias and Efficiency of the Extreme-Value Variance Estimator for Common Stocks James B. Wiggins The Impact of New Product Introductions on the Market Value of Firms Paul K. Chaney, Timothy M. Devinney, and Russell S. Winer Implications of Current Factor Proportions Indices for the Competitive Position of the U.S. Manufacturing and Service Industries in the Year 2000 Refik Erzan and Alexander J. Yeats Information Mirages in Experimental Asset Markets Colin Camerer and Keith Weigelt Luck versus Forecast Ability: Determinants of Trader Performance in Futures Markets Michael L. Hartzmark Monetary Base Growth, Deposit Growth, and Inflation in the Postwar United States John F. Boschen and Kathleen E. Talbot Naive Trading Rules in Financial Markets and Wiener- Kolmogorov Prediction Theory: A Study of *‘Technical Analysis” Salih N. Neftci Off-Floor Trading, Disintegration, and the Bid-Ask Spread in Experimental Markets Joseph Campbell, Shawn LaMaster, Vernon L. Smith, and Mark Van Boening Regulation, Advertising, and Economic Welfare David L. Kaserman and John W. Mayo Journal of Business Renting Ideas Christopher D. Hall Shelf Registration and the Market for Seasoned Equity Offerings David J. Denis A Standard Data Base for the Analysis of Japanese Secu- rity Markets Yasushi Hamao Stock Index Futures and Index Arbitrage in a Rational Expectations Model Anne Fremault Stock Price Movements around Acquisition Announce- ments and Management’s Response Robert H. Jennings and Michael A. Mazzeo Stock Prices and the Dissemination of Analysts’ Recom- mendations Messod D. Beneish The Survival of Noise Traders in Financial Markets J. Bradford De Long, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann The Tax-Timing Option and the Discounts on Closed- End Investment Companies James Brickley, Steven Manaster, and James Schall- heim Technological Change in Large U.S. Commercial Banks William C. Hunter and Stephen G. Timme Transactional Risk, Market Crashes, and the Role of Cir- cuit Breakers Bruce C. Greenwald and Jeremy C. Stein Why Investors Value Multinationality Randall Morck and Bernard Yeung Index to Authors Messod D. Beneish Stock Prices and the Dissemination of Analysts’ Rec- ommendations John F. Boschen and Kathleen E. Talbot Monetary Base Growth, Deposit Growth, and Inflation in the Postwar United States James Brickley, Steven Manaster, and James Schallheim The Tax-Timing Option and the Discounts on Closed- End Investment Companies Colin Camerer and Keith Weigelt Information Mirages in Experimental Asset Markets Joseph Campbell, Shawn LaMaster, Vernon L. Smith, and Mark Van Boening Off-Floor Trading, Disintegration, and the Bid-Ask Spread in Experimental Markets Index to Volume 64 629 573 Paul K. Chaney, Timothy M. Devinney, and Russell S. Winer The Impact of New Product Introductions on the Mar- ket Value of Firms J. Bradford De Long, Andrei Shleifer, Lawrence H. Summers, and Robert J. Waldmann The Survival of Noise Traders in Financial Markets David J. Denis Shelf Registration and the Market for Seasoned Equity Offerings Upinder Dhillon and Herb Johnson Changes in the Standard and Poor’s 500 List Refik Erzan and Alexander J. Yeats Implications of Current Factor Proportions Indices for the Competitive Position of the U.S. Manufacturing and Service Industries in the Year 2000 Anne R. Fremault Stock Index Futures and Index Arbitrage in a Rational Expectations Model Dan Givoly and Carla Hayn The Aggregate and Distributional Effects of the Tax Reform Act of {¥%@6 on Firm Valuation Bruce C. Greenwald und Jeremy C. Stein Transactional Risk, Market Crashes, and the Role of Circuit Breakers Christopher D. Hall Renting Ideas Yasushi Hamao A Standard Data Base for the Analysis of Japanese Security Markets Michael L. Hartzmark Luck versus Forecast Ability: Determinants of Trader Performance in Futures Markets William C. Hunter and Stephen G. Timme Technological Change in Large U.S. Commercial Banks Robert H. Jennings and Michael A. Mazzeo Stock Price Movements around Acquisition An- nouncements and Management’s Response David L. Kaserman and John W. Mayo Regulation, Advertising, and Economic Welfare Steven V. Mann and Neil W. Sicherman The Agency Costs of Free Cash Flow: Acquisition Ac- tivity and Equity Issues Randall Morck and Bernard Yeung Why Investors Value Multinationality Salih N. Neftci Naive Trading Rules in Financial Markets and Wiener-Kolmogorov Prediction Theory: A Study of ‘*Technical Analysis”’ Journal of Business James B. Wiggins Empirical Tests of the Bias and Efficiency of the Extreme-Value Variance Estimator for Common Stocks BOSTON COLLEGE Wallace E. Carroll School of Management Graduate Programs in Finance Ph.D. M.S. We address the theory and quantitative The AACSB accredited program builds methods necessary to become on a business preparation, and may be productive scholars and top teachers. completed in one year of full-time or Students receive $15,000/year and full two years of part-time study. tuition remission. The Faculty George Aragon Alan Marcus Manoj Kumar Singh Lawrence Benveniste Mya Maung Elizabeth Strock Francis Campanella Timothy Mech Robert Taggart, Jr. Walter Greaney Hamid Mehran Hassan Tehranian Kathleen Hevert Robyn McLaughlin Nickolaos Travlos Clifford Holderness John Preston William Wilhelm For further information on our graduate finance programs, please write or call Ruth N. Levine, Associate Director, Graduate Finance Programs, Fulton 114, Boston College, Chestnut Hill, MA 02167, telephone (617) 552-4488. # % AP a f {o F pe eh ow pt AA = fo go be r™. joe : oe ~ a ~ ~ ail “