The Journal of Finance

Cover image for The Journal of Finance

May 1972

Volume 27, Issue 2

Pages 179–549

  1. Original Article

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. DISTRIBUTION OF FEDERAL AND STATE INCOME TAXES BY INCOME CLASSES (pages 179–191)

      Joseph A. Pechman

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00953.x

  2. Session Topic: Real Estate Finance

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. Session Chairman: George Sternlieb; PATTERNS OF HOUSING EXPERIENCE DURING PERIODS OF CREDIT RESTRAINT IN INDUSTRIALIZED COUNTRIES (pages 193–205)

      Robert Moore Fisher and Charles J. Siegman

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00954.x

    2. DISEQUILIBRIUM IN HOUSING MODELS (pages 207–221)

      Ray C. Fair

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00955.x

    3. DISCUSSION (pages 222–230)

      James Gillies, Leo Grebler, R. Bruce Ricks and Lawrence Smith

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00956.x

  3. Session Topic: Selected Topics in Monetary Economics

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. MONEY AND STOCK PRICES: THE CHANNELS OF INFLUENCE (pages 231–249)

      Charles H. Brunie, Michael J. Hamburger and Levis A. Kochin

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00957.x

    2. INTEREST RATES ON MONETARY ASSETS AND COMMODITY PRICE INDEX CHANGES (pages 251–277)

      Richard Roll

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00958.x

    3. MONETARY POLICY IN THE “CHECKLESS” ECONOMY (pages 279–293)

      Donald D. Hester

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00959.x

    4. DISCUSSION (pages 294–298)

      Merton H. Miller, William Poole and Alvin Marty

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00960.x

  4. Session Topic: Recent Studies of Financial Markets and Institutions

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. SOME CONTRIBUTIONS OF THE INSTITUTIONAL INVESTOR STUDY (pages 305–317)

      Kenneth M. Wright and Lawrence D. Jones

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00961.x

  5. Session Topic: Selected Topics in Monetary Economics

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. THE COMMISSION ON FINANCIAL STRUCTURE AND REGULATION: ITS ORGANIZATION AND RECOMMENDATIONS (pages 319–328)

      Donald P. Jacobs and Almarin Phillips

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00962.x

    2. DISCUSSION (pages 329–333)

      Marshall E. Blume, Robert Lindsay, Eli Shapiro and George J. Stigler

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00963.x

  6. Session Topic: Contributed Papers I

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. RISK, RETURN AND DISEQUILIBRIUM: AN APPLICATION TO CHANGES IN ACCOUNTING TECHNIQUES (pages 343–353)

      W. Scott Bauman and Ray Ball

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00964.x

    2. THE VALUE OF PERFECT MARKET FORECASTS IN PORTFOLIO SELECTION (pages 355–369)

      Nancy L. Jacob and Keith V. Smith

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00965.x

    3. THE SPECULATIVE BEHAVIOR OF MUTUAL FUNDS (pages 381–391)

      Donald G. Simonson

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00967.x

    4. DISCUSSION (pages 392–398)

      James L. Bicksler and Michael J. Brennan

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00968.x

  7. Session Topic: Portfolio Theory and Security Analysis

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. THE VALUATION OF OPTION CONTRACTS AND A TEST OF MARKET EFFICIENCY (pages 399–417)

      Jerome B. Cohen, Fischer Black and Myron Scholes

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00969.x

    2. WEALTH, WELFARE, AND THE PRICE OF RISK (pages 419–433)

      John Long

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00970.x

    3. THE EFFECT OF THE FIRM'S CAPITAL STRUCTURE ON THE SYSTEMATIC RISK OF COMMON STOCKS (pages 435–452)

      Robert S. Hamada

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00971.x

    4. DISCUSSION (pages 453–456)

      John Lintner and William F. Sharpe

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00972.x

  8. Session Topic: Contributed Papers II

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. THE ANALYSIS OF REAL ESTATE INVESTMENTS UNDER UNCERTAINTY (pages 459–471)

      Harold W. Stevenson and Peter G. K. Pellatt

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00973.x

    2. SELECTIVE CREDIT POLICY: IS IT JUSTIFIED AND CAN IT WORK? (pages 473–479)

      D. C. Rao

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00974.x

    3. THE ANALYSIS OF MERGERS AND ACQUISITIONS (pages 495–502)

      Richard A. Shick

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00976.x

    4. INTERRELATED MODELS OF HOUSEHOLD BEHAVIOR: A SUMMARY AND AN EXTENSION (pages 503–506)

      Paul Wachtel

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00977.x

    5. DISCUSSION (pages 507–508)

      J. R. Longstreet and Lawrence S. Ritter

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00978.x

  9. Session Topic: Tax Depreciation Reform

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. THE ECONOMICS OF THE ASSET DEPRECIATION RANGE SYSTEM: THE CASE AGAINST ADR (pages 511–524)

      Harold Somers and Paul Taubman

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00979.x

    2. TAX POLICY AND DEPRECIATION THE CASE FOR ADR (pages 525–533)

      Gerard M. Brannon

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00980.x

    3. DISCUSSION (pages 534–541)

      Robert M. Coen and Martin David

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00981.x

  10. American Finance Association Business Proceedings

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. Minutes of the Annual Membership Meeting December 28, 1971 (pages 543–545)

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00982.x

  11. Report of the Managing Editor of the Journal of Finance Covering the Year 1971

    1. Top of page
    2. Original Article
    3. Session Topic: Real Estate Finance
    4. Session Topic: Selected Topics in Monetary Economics
    5. Session Topic: Recent Studies of Financial Markets and Institutions
    6. Session Topic: Selected Topics in Monetary Economics
    7. Session Topic: Contributed Papers I
    8. Session Topic: Portfolio Theory and Security Analysis
    9. Session Topic: Contributed Papers II
    10. Session Topic: Tax Depreciation Reform
    11. American Finance Association Business Proceedings
    12. Report of the Managing Editor of the Journal of Finance Covering the Year 1971
    1. Report of the Managing Editor of theJournal of Finance Covering the Year 1971 (pages 547–549)

      Alexander A. Robichek

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1972.tb00983.x

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