The Journal of Finance

Cover image for The Journal of Finance

June 1978

Volume 33, Issue 3

Pages 693–1049, i–xii

  1. Front Matter

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. Front Matter (pages i–vii)

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00764.x

  2. [Photograph]: Alexander A. Robichek, 1925–1978

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. [Photograph]: Alexander A. Robichek, 1925–1978 (page viii)

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00765.x

  3. Presidential Address

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. REGULATION AND MODERN FINANCE THEORY (pages 693–705)

      Alexander A. Robichek

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02012.x

  4. Session Topic: Valuation with Public Policy Implications

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. RATE REGULATION, CAPITAL STRUCTURE, AND THE SHARING OF INTEREST RATE RISK IN THE ELECTRIC UTILITY INDUSTRY (pages 707–721)

      James C. Van Horne, R. A. Haugen, A. L. Stroyny and D. W. Wichern

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02013.x

    2. LIMIT ORDERS, MARKET STRUCTURE, AND THE RETURNS GENERATION PROCESS (pages 723–736)

      Kalman J. Cohen, Steven F. Maier, Robert A. Schwartz and David K. Whitcomb

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02014.x

    3. ELIMINATION OF THE DOUBLE TAXATION OF DIVIDENDS AND CORPORATE FINANCIAL POLICY (pages 737–750)

      Robert H. Litzenberger and James C. Van Horne

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02015.x

  5. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 750–751)

      Willard T. Carleton

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02016.x

    2. DISCUSSION (pages 752–754)

      Frank K. Reilly

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00766.x

    3. DISCUSSION (pages 754–757)

      E. Han Kim

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00767.x

  6. Session Topic: Recent Theoretical Developments in Financial Theory

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. WELFARE ASPECTS OF OPTIONS AND SUPERSHARES (pages 759–776)

      Michael Rothschild and Nils H. Hakansson

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02017.x

  7. Discussion

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 792–794)

      Robert Willig

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02019.x

  8. Session Topic: International Finances

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. THE NEW EXCHANGE RATE REGIME AND THE DEVELOPING COUNTRIES (pages 795–802)

      Rudiger Dornbusch and Alexandre Kafka

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02020.x

    2. THE BALANCE OF PAYMENTS ADJUSTMENT PROCESS REVISITED (pages 803–813)

      Helen B. Junz

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02021.x

  9. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 813–815)

      Stanley W. Black

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02022.x

    2. DISCUSSION (pages 815–817)

      Robert Salomon

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00768.x

  10. Session Topic: Money and Capital Markets

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. TECHNOLOGY, COMMUNICATION AND THE PERFORMANCE OF FINANCIAL MARKETS: 1840–1975 (pages 819–832)

      Robert A. Kavesh, Kenneth D. Garbade and William L. Silber

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02023.x

    2. WHO PUTS THE INFLATION PREMIUM INTO NOMINAL INTEREST RATES? (pages 833–845)

      Benjamin M. Friedman

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02024.x

  11. Discussion

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 845–847)

      Franklin R. Edwards

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02025.x

  12. Session Topic: Cost of Capital Theory: State of the Arts

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. THE COST OF EQUITY CAPITAL: A RECONSIDERATION (pages 849–861)

      Myron J. Gordon, M. J. Gordon and L. I. Gould

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02026.x

    2. RECENT DEVELOPMENTS IN THE COST OF DEBT CAPITAL (pages 863–877)

      Andrew H. Chen

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02027.x

  13. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 878–881)

      Jean Crockett

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02028.x

    2. DISCUSSION (pages 881–883)

      Jess B. Yawitz

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00769.x

  14. Session Topic: Capital Asset Pricing Theory

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. THE CURRENT STATUS OF THE CAPITAL ASSET PRICING MODEL (CAPM) (pages 885–901)

      Martin J. Gruber and Stephen A. Ross

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02029.x

    2. NEW EVIDENCE ON THE CAPITAL ASSET PRICING MODEL (pages 903–917)

      Irwin Friend, Randolph Westerfield and Michael Granito

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02030.x

  15. Discussion

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 917–920)

      W. F. Sharpe

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02031.x

  16. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. ESTIMATES OF THE EFFECTIVENESS OF STABILIZATION POLICIES FOR THE MORTGAGE AND HOUSING MARKETS (pages 933–946)

      Dwight M. Jaffee and Kenneth T. Rosen

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02033.x

    2. TAXATION AND THE INCIDENCE OF HOMEOWNERSHIP ACROSS INCOME GROUPS (pages 947–961)

      Robert H. Litzenberger and Howard B. Sosin

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02034.x

  17. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 961–962)

      Jack Guttentag

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02035.x

    2. DISCUSSION (pages 962–964)

      Donald P. Tucker

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00770.x

  18. Session Topic: Slowdown in the Growth of Productivity in the United States

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. SESSION TOPIC: SLOWDOWN IN THE GROWTH OF PRODUCTIVITY IN THE UNITED STATES (pages 965–975)

      M. Ishaq Nadiri and Peter K. Clark

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02036.x

    2. THE U.S. PRODUCTIVITY GROWTH RECESSION: HISTORY AND PROSPECTS FOR THE FUTURE (pages 977–988)

      Michael D. McCarthy

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02037.x

    3. THE LONG-TERM EFFECTS OF GOVERNMENT DEFICITS ON THE U.S. OUTPUT POTENTIAL (pages 989–1001)

      George M. von Furstenberg

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02038.x

  19. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 1001–1006)

      John R. Norsworthy

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02039.x

    2. DISCUSSION (pages 1006–1010)

      Edward F. Denison

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00771.x

  20. Session Topic: Capital Asset Pricing in International Finances

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. FOREIGN EXCHANGE HEDGING AND THE CAPITAL ASSET PRICING MODEL (pages 1011–1018)

      Michael Adler, Alexander A. Robichek and Mark R. Eaker

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02040.x

    2. THE THEORY OF THE TRADING FIRM REVISITED (pages 1019–1030)

      B. Dumas

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02041.x

  21. Discussions

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. DISCUSSION (pages 1030–1031)

      Ian H. Giddy

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02042.x

    2. DISCUSSION (pages 1031–1033)

      Frederick L. A. Grauer

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00772.x

  22. American Finance Association Business Proceedings

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. AMERICAN FINANCE ASSOCIATION BUSINESS PROCEEDINGS (pages 1034–1036)

      Robert A. Kavesh

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02043.x

    2. Report of the Managing Editor of the Journal of Finance For 1977 (pages 1037–1042)

      Marshall E. Blume

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02044.x

    3. FINANCIAL STATEMENT : December 31, 1977 (page 1043)

      Article first published online: 30 APR 2012 | DOI: 10.1111/j.1540-6261.1978.tb02045.x

  23. Back Matter

    1. Top of page
    2. Front Matter
    3. [Photograph]: Alexander A. Robichek, 1925–1978
    4. Presidential Address
    5. Session Topic: Valuation with Public Policy Implications
    6. Discussions
    7. Session Topic: Recent Theoretical Developments in Financial Theory
    8. Discussion
    9. Session Topic: International Finances
    10. Discussions
    11. Session Topic: Money and Capital Markets
    12. Discussion
    13. Session Topic: Cost of Capital Theory: State of the Arts
    14. Discussions
    15. Session Topic: Capital Asset Pricing Theory
    16. Discussion
    17. Session Topic: Financial and Tax Incentives to Home Ownership: Obstacles to Reforms
    18. Discussions
    19. Session Topic: Slowdown in the Growth of Productivity in the United States
    20. Discussions
    21. Session Topic: Capital Asset Pricing in International Finances
    22. Discussions
    23. American Finance Association Business Proceedings
    24. Back Matter
    1. Back Matter (pages ix–xii)

      Article first published online: 29 JAN 2016 | DOI: 10.1111/j.1540-6261.1978.tb00773.x

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