Table Of Content

INDEX TO VOLUME LXI ARTICLES \ ( Consumption-Based Explanation of Bayesian Alphas and Mutual Fund Per- E xpected Stock Returns ne sistence Motohiro Yogo \ Nonlinear Factor Analysis of S&P aul J. Irvine 500 Index Option Returns . aes 3usiness Groups and Tunneling: Evi- ( ‘hristopher S. Jones dence from Private Securities Offer- \ Theory of Pyramidal Ownership and ingsb y Korean Chaebols sae Family Business Groups .. Pe Jae-Seung Baek, Heitor V. Almeida and Jun-Koo Kang, and Dani l Wolfe nzon Inmoo Lee \nalyst Coverage and Financing Deci- Can Managers Successfully Time the sions . Re re Maturity Structure of Their Debt Is- Xin Char g sues? Sudipto Dasgupta, and Gilles Hilary 3009 Gustavo Grullon, and Analysts’ Selective Coverage and Sub- James P. Weston sequent Performanofc e Newly Public Can Mutual Fund “Stars” Really Pick Pimms: ...... . Ne cabineen ee ie Stocks? New Evidence from a Boot- Somnath Das, strap Analysis Re Jin Guo, and Huai Zhang Allan Timmermann, Are Busy Boards Effective Monitors? Russ Wermers, and Eliezer M. Fich and Hal White 2551] Anil Shivdasani Capital Gains Tax Overhang and Price \re IPO Allocations for Sale? Evidence Pressure. from Mutual Funds........... 1399 Jonathan Reuter CEO Turnover after Acquisitions: Are Asset Float and Speculative Bubbles Bad Bidders Fired? . Sage Harrison Hong, Kenneth M. Lehn and Jose Sche inkman, and Mengxin Zhao Wei Xiong CEOs’ Outside Employment Opportu- \sset Pricing Implications of Non- nities ind the Lack of Relative Per- convex Adjustment Costs anda |i rre- formance Ev iluation in Compensa- versibility of Investment tion Contracts Ilan Cooper Shivaram Rajgopal, \utomation versus Intermediation: Terry Shevlin, ana Evidence from Treasuries Going Off Valentina Zamora the Run. ; ; ; ting f Securities Un- Michael J. Barclay, derwriting Mandates: 3ank- Terrence Her dershott. Relationships and Analyst and Kenneth Kot Recommendat. io Bank Mergaendr Crsime : The Real and Social Effects of Credit Market Com Felic la Mars on ind petition.... liam J. Wilhe lm, Jr. Mark J Gar? ad >) I?) Corporate Equ Ownership and the J. Moskowitz Gover Product Market Rela- Banks’ Advantage ng Liquid ity Risk: Theory ind Evidence from C. Edward Fee, the Commerciai Paper Market Charles J. Hadlock, and Evan Gate Shawn Thomas 1217 Philip E CF Vol. 61 Index/Contents Index to Volume LXI nformed Lendi ng irity Design and Dynamic u a Continuous- itl il Public Offering nd 7 ‘heory and Practice Yuliy Sannikou 2681 ubble.... wis Robert Battalio and sider Trading, Paul Schultz 2071 Ownership Concentra ding ¢ ind Stock Mar- W0er, Luc Renn José M. Mari vestment and I inancin ions and Corporate straints: Evidence from the Funding f Corporate Pension 4 Tne hua DR nald W. Masulis, and ivestor Sentiment and Pre-IPO Mar John J. McConnell KeUSt Predictin Managerial Decision Va : Is There a Small- SamplIe Bi }V alc] olmIw Baker, ~ —_ } estor Sentiment in Ta lajerro, and Section of Stock Return Jeffrey Wurgler 1V alco ntiment and Return vestor Tax Heterogene Alok Kumar and Dividend Day‘ Charles M.C. Le ind IPO Price Sup- Katharina Lewellen 2 Costs in the Munic- Di cet Re 0 juidity and Autocorrelat 1ae¢ lS. Piwowar vidual Stock Return ind the January Ef rom Municipal Bond quidity and Cr inkruptcy: Chapter 7 Viarket Reactions to Chapter 11 Reor- tangible Informatio larket Valuatior 1253 tions: Evidence ility and Ex- Uistributions Andrew Ang, Robs rill Hedrick Yuhang Xing, a Model Uncertainty Xia yy kets with Heterog Effect and Underreac- A? ndrea Frazzini 2017 Offering versus Chi Jubbles Equity Exposure Experimental Spot Funds G trnan Haruvy and harlesN . Noussair 1119 3104 The Journal of Finance Corporate Financial Policy and the c Portfolio Selection Value of Cash Do Oe he As Space ‘ Michael Faulkender and lichael W. Brandt and Rong Wang Pedro Santa-Clara Corporate Investment and Asset Price Empirical Evidence on Capital Invest- Dynamics: Implications for SEO ment,G 1 Options, and Security Event Studies and Long-Run Perfor Returns mance... ios : . of her W Anderson and Ss ( Garcia FY e1JOO iins from Trade in L009 kets ee Burton Hollifield, Darren J. Kisgen 1035 Robert A. Miller, Derivative Pricing 60 Years | Patrik Sandas,an d Black-Scholes: Evidence from the Jo- Joshua Slive I1 annesbIu rg SStt ock Exchange.. I tive Stock Options: Early Exer- pn cer vioore nd Risk-taking In- Distance Constraints: Th - Neil Brisley its of Foreign Lending Fund Families 9 Economies. ae sic Cross-Fund A tif , ‘ Do Banks Affect the Level and Compo- Miguel Gaspar, sition of Industrial Volatility? : simo Massa, and Borja Lari tin 1897 Pedro Matos Do Dividend Clienteles Exist? Evi- ‘inance as a ier to Entry: Bank denceo n Dividend Preferences of Re- Competition a1 ndustry Structure tail Investors....... ; in Loca ie ae John R. Graham and a Cetorelli and Alok Kumar 308 Philip E. Strahan Do the Fama—French Factors Proxy Hedging: Evidence for Innovations in Predictive 1 Gas Producers.... ae Yanbo Jin and Ralit sa Pr if ova Philippe Jorion Does a Parent—Subsidiary Structure Household Enhance Financing Flexibility? Anand M. Vijh 337 How Do ¢ Does Corporate Headquarters Location Accessibl Matter for Stock Returns? . : dic , : ; Christo Pirinsky and Bria Qinghai Wans lomo? Kumagat, and Does Investor Misvaluation Drive th Kathy Yuan Takeover Market?............ How P the Impact of Market Ming Dong, Timing or vital Structure? Javid Hirsl A\vdogan Alti Scott Richardson, an Industry ntration and Average Siew Hong Teol 723 Stock Ret Does the Contribution of Corporate Kewei H Da Cash Holdings and Dividends to if I trol, Career Concerns, Firm Value Depend on Governance? ernance. A Cross-country Analysis ; Fenghua Song and Lee Pinkowitz Anjan V. Thakor René Stulz, and Informatior ( ity and StockRe - Rohan Willia n 22 tur! Does Weak Governance Cause Weak X. Frank Zhang Stock Returns? An Examination of Informati | and Volatility: Firm Operating Performance and In Evider ce f Weather-Sensitive vestors Expectations... é Market John E. Cor Jeff Fleming, Wayne R. Guay, and Chris Kirby, and Tjomme O. Rusticus D5 BBla rbara Ostdiek 2899 3106 The Journal of Finance The Entrepreneur’s Choice between Uncovering the Risk Return Relation Private and Public Ownership . in the Stocl < Market Arnoud W. A. Boot, Hui Guo and Radhakrishnan Gopalan, and Robert F. Whitelaw Anjan V. Thakor Unspanned Stochastic Volatility: Ev- The Evolution of Security Des te from Hedging Interest Rate Thomas H. Noe, Michael J. Rebello, and Haitao Li and Jun Wang Feng Zhao The Limits of Investor Behavior st » Compensation . Mark Loewenstein and Bo Becker Gregory A. Willard sé curities Laws?...... The Price Impact and Survival of Irra Rafael La Porta, tional Traders , Her >-De-Silanes, and Leonid Kogan, Andrei Shleifer Stephen z utions Are Large Jiang The tole of MacrCoor - Mark M Environments . The Value Premium Donghui Li, CAPM. horz Moshirian, en Pham, and Kenneth R Jason Ze in Trading Volume: Implications of an Expropriation? Intertemporal Capital Asset Pricing Portfolio Model .. Peed ; Andrew W. Lo anc ta Giannetti and Jian ;W fret Simonov 1507 INDEX TO VOLUME LXI AUTHORS pA, Herror V. “A TI 1eory of Pyra SSE, J \. “Bayesian Alphas midal Ownership and Family Busi and Mutual Fund Persistence”...... ness Groups” ER, A ; W. “Can Man- AypoGAN “How Persistent Is the agers Successfully Time the Ma- Impact of Market Timing on Capital turity Structure of Their Debt Structure?” , Issues / : x RSON, CHRISTO! W Empiri MPBELL, JOHN “Household al Evidence on Finance” eeccce . : nent, Growth Optio M ‘Corporate Invest- Returns” : ind Asset Price Dynamics: Im- ANDREW “The Cross-Sectior ions for SEO Event Studies and Volatility and Expected Returt rformance” wc Shae v, Doron “Liquidity ‘Finance as a Bar- correiations in Individual Stock Bank Competition anc Returns” Industry ructure in Local US. JAE-SEUNG “Business Groups Markets’ and Tunneling: Evidence from Pri X ‘Analy Coverage and vate Securities Offerings by Ko Financing Decisions Chaebols” ‘ J “Market Valuation of Tax- MALcoLn Timing ons: Evidence from Cap- ind the Cross-Section ibutions”. Returns” ..... see Chay MALco! see Ay ramov).. ; vith Managerial Decision Varia et Pricing Implica- Is There a Small-Sample Bias? x Adjustment Costs Y, MICHA J. “Aut matio ity of Investment” ntermediation: Evidence f fr« Does Weak Gover uries Going Off the Run Weak Stock Returns? Rosi “Option nm of Firm Oper- subble” and Investors’ “Investor Senti- A [IPO Markets” : yreneur’s Reactions to 1 Public 1605 S009 3108 The Journal of Finance Faccio, Mara “Political Connections : see Barclay and Corporate Bailouts” 25! LARY, G Chang Fama, EuGene F. “The Value Premiun | | ee Do ng and the CAPM”......... ; 2163 if R J. (see Ang FAULKENDER, MicHagEL “Corporate F Estimating the nancial Policy and the Value of C Limit-Order ) , STANLEY E. (see Brau Epwarp “Corporate Equity vat and Spec- Ownership and the Governance Product Market Relationships Fi 1, E Ai M 4 susy Boards E fective Monitors?” ( fering \ rsus |C hoice Fiprmuc, JANA P. “Insider Trading n401 I Equity |{ xpos 1r¢ and News Releases, and Own« centration” 1 Lending and FISHE! FLED ing, an Weather-Sen F Funding and j ciency” -F O, isk, M Crime: The Real anc Credit Market Com] GASPAR, Jt M Fave Mutual Fund Families? E Strategic Cross-Fund Sul G TA E “Banks Hedging Liquidity Risk npact and Evidence from the Con ers” Rate Market” Mutual GIA Stocks 9 GIANNI DI tors Fear Expropriatior trom Investors’ Portfolio( GOERGEN, Marc (see Fidrmuc GOLD! H, Da\ ) see Cornell GOPALAN, RADHAKRISHNAN (see Boot estor Senti- GoyaAL, AM see Avramov GRAHAM, JOHN R “Do Dividend C] les Exist? Evidenceo n Dividend I erences of R) Retail Investors Affect the GRULLON, Gustavo (see Butler f{ Industrial Guay, WayNE R. (see Core Guo, Hui “Uncovering the Risk ee Kumar).... Relation in the Stock Market” i] L [. “CEO Turnover af- ‘HARLES J. (see Fee 1217 er A Are Bad Bidders AWA]W RENCE E. “Secondary Trad- sts in the Municipal Bond “Risk, Reputa- Market” .. evde tessa YSU DOOLE 6c. c60c Haruvy, ErnAn “The Effect of Short ) iancial Institu- Selling on Bubbles and Crashes Shareholders: The Mina rketEsx”p erimental Spot cAa sset “nth ~ . 0 Cory orate Governance Index to Volume LX] Ha “U1 nneda UU { “ricsson Volatility: Eviden ron dging | see Fidrmuc terest Rt ate Deris re IPO ) Zi E} e Dh Relatic tecommendati v W. “T) of an Interten Pricing Mode M Lacko f Relative Perfo é Valu , t . tion in Compensation Cc ict 1813 ] .. (see Loewenstein JosHua D. “Inves MISON, e Pinkowitz incing Constraints: Evidence I lo NZON, | Almeida he Funding of Corporate ( z see Baker)... Plans oe ; see Baker). O, MicHat a Ang 3110 The Journal of Finance XIONG, WEI (see Hong) Ne 1073 ZHANG, Huai (see Das) Yoco, Morontro “A ZHANG, X. F ‘Information Uncer- Based Explanation of Expected tainty and Stock Returns” Stock Returns” Ae ee ee 539 ZHANG, XIAOYAN (see Ang). YonLai ,(s ee Starks) eee! 3049 ZHAO, FENG (see Yuan, Karuy (see Boyer).... i 957 ZHAO, MEN ZAMORA, VALENTINA (see Rajgopal). . 1813 ZHENG, L ZEIN, JASON (see Li).... i 2975 ZuHu, NIN¢