Content
January 1999, Volume 11, Issue 4
- 75-81 Strengthening The Global Financial System: Assessing The Crisis And The Policy Response
by William S. Haraf - 82-87 When Do Strategic Alliances Create Shareholder Value?
by Su Han Chan & John W. Kensinger & Arthur J. Keown & John D. Martin - 88-96 TAKEOVERS, MANAGEMENT REPLACEMENT, AND POST‐ACQUISITION OPERATING PERFORMANCE: SOME EVIDENCE FROM THE 1980s
by James D. Parrino & Robert S. Harris - 122-126 The Stern Stewart Performance 1000
by Irwin Ross
September 1998, Volume 11, Issue 3
- 8-15 Financial Markets and Economic Growth
by Merton H. Miller - 30-39 Globalization Of Capital Markets And The Asian Financial Crisis
by E. Han Kim - 40-48 Which Capitalism? Lessons Form The East Asian Crisis
by Raghuram G. Rajan & Luigi Zingales - 49-54 Some Reflections On Recent Monetary Turmoil In Eastern Europe
by Merton H. Miller - 55-65 Securitization: A Financing Strategy For Emerging Markets Firms
by Claire A. Hill - 66-81 Assessing Bond Market Developments Pot‐Euro
by Lorenzo Codogno - 82-99 Using Discounted Cash Flow Analysis In An International Setting: A Survey Of Issues In Modeling The Cost Of Capital
by Tom Keck & Eric Levengood & AL Longfield - 100-108 International Production Location And “Pro Forma” Financial Hedging Of Exchange Rate Risk
by Thomas J. O'Brien - 109-131 How To Use Eva In The Oil And Gas Industry
by John L. McCormack & Jawanth Vytheeswaran
June 1998, Volume 11, Issue 2
- 28-37 Silicon Valley'S High‐Velocity Labor Market
by Alan Hyde - 38-47 Reinventing A Corporation: The “Satellite” Structure Of Thermo Electron
by Jeffrey Allen - 48-58 Rethinking Bank Regulation: A Review Of The Historical Evidence
by Randall S. Kroszner - 59-69 A New Approach To Capital Budgeting For Financial Institutions
by Kenneth A. Froot & Jeremy C. Stein - 70-78 Some Evidence That Banks Use Internal Capital Markets To Lower Capital Costs
by Joel Houston & Christopher James - 79-94 Financial Innovations In Leveraged Commercial Loan Markets
by Christopher L. Culp & Andrea M. P. Neves - 95-106 How Stock‐Swap Mergers Affect Shareholder (And Bondholder) Wealth: More Evidence Of The Value Of Corporate “Focus”
by Lance A. Nail & William L. Megginson & Carlos Maquieira - 107-121 The Measurement Of Post‐Acquisition Performance: Toward A Value‐Based Benchmarking Methodology
by Mark L. Sirower & Stephen F. O'Byrne - 122-127 How Should Pension Funds Manage Risk?
by Keith P. Ambachtsheer
March 1998, Volume 11, Issue 1
- 25-38 Express Lane Or Tollbooth In The Desert? The Sec'S Framework For Security Issuance
by Jennifer E. Bethel & Erik R. Sirri - 39-44 MIPS, QUIPS AND TOPrS: OLD WINE IN NEW BOTTLES
by Arun Khanna & John J. McConnell - 45-53 Understanding The Design Of Convertible Debt
by Craig M. Lewis & Richard J. Rogalski & James K. Seward - 54-65 Measuring Corporate Tax Rates And Tax Incentives: A New Approach
by John R. Graham & Michael L. Lemmon - 66-77 The Balanced Capital Structure
by Steven C. Patrick - 78-88 Who Wins In Large Stock Buybacks – Those Who Sell Or Those Who Hold?
by William McNally - 89-96 Evidence On How Companies Choose Between Dividends And Open‐Market Stock Repurchases
by Eli Bartov & Itzhak Krinsky & Jason Lee - 97-108 The Impact Of Asset Securitization: A Perspective For Investors
by Robert M. Okabe - 109-120 A New Model For Estimating Risk Premiums (Along With Some Evidence Of Their Decline)
by Laurence Booth - 121-124 Cfar: A New Tool For Predicting Credit Quality
by Suzanne Wolkenfeld
January 1998, Volume 10, Issue 4
- 8-15 The Role Of Corporate Governance In South Korean Economic Reform
by Kenneth Scott - 26-38 Value At Risk: Uses And Abuses
by Christopher L. Culp & Merton H. Miller & Andrea M. P. Neves - 39-62 Employee Stock Ownership In Economic Transitions: The Case Of United Airlines
by Jeffrey N. Gordon - 63-68 The Legality Of The Shareholder Rights By‐Law In Delaware: Preserving The Market For Corporate Control
by Jonathan R. Macey - 69-78 Ownership And Control In South Africa Under Black Rule
by Brian Kantor - 79-89 Corporate Governance In An Emerging Market: The Case Of Israel
by Asher Blass & Yishay Yafeh & Oved Yosha - 90-101 Sourcing Equity Internationally With Depositary Receipt Offerings: Two Exceptions That Prove The Rule
by G. Andrew Karolyi - 102-107 Debt, Folklore, And Cross‐Country Differences In Financial Structure
by Raghuram Rajan & Luigi Zingales - 108-115 Value‐At‐Risk And Corporate Valuation
by Stephen Godfrey & Ramon Espinosa - 116-120 The 1997 Stern Stewart Performance 1000
by Irwin Ross
September 1997, Volume 10, Issue 3
- 8-17 Risks and Rewards in Emerging Market Investments
by Roy C. Smith & Ingo Walter - 18-32 Are Open Markets Good for Foreign Investors and Emerging Nations?
by E. Han Kim & Vijay Singal - 34-34 Yankee Bonds and Cross‐Border Private Placements
by Greg Johnson & Thomas Funkhouser - 46-58 Accounting For Derivates: Back To Basics
by George J. Benston - 59-67 Picking Your Tick: Toward a New Theory of Stock Splits
by James J. Angel - 69-81 Insurance Derivatives: A New Asset Class for the Capital Markets and a New Hedging Tool for the Insurance Industry
by Michael S. Canter & Joseph B. Cole & Richard L. Sandor - 84-95 Financial Innovation in the Management of Catastrophe Risk
by Neil A. Doherty - 96-103 Risk Management by Securities Settlement Agents
by Christopher L. Culp & Andrea M. P. Neves - 104-115 Market Based Management™*—A Key to Nucor's Success
by William Nobles & Judy Redpath - 117-124 The End of Cost Allocations as We Know Them
by Marc Hodak
June 1997, Volume 10, Issue 2
- 8-23 Science, Specific Knowledge, And Total Quality Management
by Karen Hopper Wruck & Michael C. jensen - 24-39 Management Fads And Organizational Architecture
by James A. Brickley & Clifford W. Smith & Jerold L. Zimmerman - 68-71 Managing For Shareholder Value At Bank Of America
by David Coulter - 72-80 Managerial Incentives And Corporate Diversification Strategies
by David J. Denis & Diane K. Denis & Atulya Sarin - 81-89 Eva And Total Quality Management
by Jeffrey M. Bacidore & John A. Boquist & Todd T. Milbourn & Anjan V. Thakor - 90-97 Eva, Accounting Profits, And Ceo Turnover: An Empirical Examination, 1985–1994
by Kenneth Lehn & Anil K. Makhija - 98-109 Eva And Divisional Performance Measurement: Capturing Synergies And Other Issues
by Jerold L. Zimmerman - 110-123 Contracting For Value: Eva And The Economics Of Organizations
by David M. Glassman
March 1997, Volume 10, Issue 1
- 8-20 PERFORMANCE LEVERAGE, AND OWNERSHIP STRUCTURE IN REVERSE LBOs
by Robert W. Holtbausen & David F. Larcker - 21-32 Designing Capital Structure To Create Shareholder Value
by Tim C. Opler & Michael Saron & Sheridan Titman - 33-43 A Practical Approach To Capital Structure For Banks
by Donald Davis & Kevin Lee - 44-53 Some New Evidence On Why Companies Use Convertible Bonds
by Frank C. Jen & Dosoung Choi & Seong‐Hyo Lee - 54-63 Percs, Decs, And Other Mandatory Convertibles
by Enrique R. Arzac - 64-71 Securitization: A Low‐Cost Sweetener For Lemons
by Claire A. Hill - 72-78 Asset Backed Commercial Paper: Get With The Program
by Charles A. Stone & Anne Zissu - 79-88 The New Leveraged Loan Syndication Market
by Keith Barnish & Steve Miller & Michael Rushmore - 89-97 Private Equity: Sources And Uses
by Travis Bradford & Roy C. Smith - 98-108 Initial Public Offerings: Going By The Book
by Lawrence M. Benveniste & William J. Wilhelm - 109-113 Using Exchange‐Traded Equity Flex Put Options In Corporate Stock Repurchase Programs
by James J. Angel & Gary L. Gastineau & Clifford J. Weber - 114-122 Two Dcf Approaches For Valuing Companies Under Alternative Financing Strategies (And How To Choose Between Them)
by Isik Inselbag & Howard Kaufold
January 1997, Volume 9, Issue 4
- 8-22 The Political Roots Of American Corporate Finance
by Mark J. Roe - 23-30 International Corporate Differences: Markets Or Law?
by Frank H. Easterbrook - 30-45 Corporate Ownership And Control In The U.K., Germany, And France
by Julian Franks & Colin Mayer - 46-57 The Canadian Keiretsu
by F.H. Buckley - 57-73 Universal Banks Are Not The Answer To America'S Corporate Governance “Problem”: A Look At Germany, Japan, And The U.S
by Jonathan R. Macey & Geoffrey P. Miller - 74-82 Large Bank Stockholders In Germany: Saviors Or Substitutes?
by William J. Carney - 82-85 Four Goals For A Stronger U.S. Financial Services Industry (And Five Ways For Congress To Help Us Get There)
by William S. Haraf - 86-93 Corporate Governance And Corporate Performance: A Comparison Of Germany, Japan, And The U.S
by Steven N. Kaplan - 94-114 Eva And Shareholder Value In Japan
by Koshiro Sakata & E. Han Kim - 115-120 The 1996 Stern Stewart Performance 1000
by Irwin Ross
September 1996, Volume 9, Issue 3
- 8-25 Rethinking Risk Management
by René M. Stulz - 25-39 Using Project Finance To Fund Infrastructure Investments
by Richard A. Brealey & Ian A. Cooper & Michel A. Habib - 39-52 Behind The Corporate Hedge: Information And The Limits Of “Shareholder Wealth Maximization”
by Henry T. C. Hu - 52-63 Incorporating Country Risk In The Valuation Of Offshore Projects
by Donald R. Lessard - 80-90 A Practical Approach To Calculating Costs Of Equity For Investments In Emerging Markets
by Stephen Godfrey & Ramon Espinosa - 90-98 An Argument Against Hedging By Matching The Currencies Of Costs And Revenues
by Trevor S. Harris & Nahum D. Melumad & Toshi Shibano - 98-109 To Own Or To Franchise?: The International Control Decision For Service Companies
by Karin Fladmoe‐Lindquist & Laurent L. Jacque - 109-118 Explaining Premiums And Discounts On Closed‐End Equality Country Funds
by Bala Arshanapalli & Jongmo Jay Choi & E. Tyler Clagget & John Doukas & Insup Lee - 118-128 Gambling, Speculation, And Insurance: Why They Continue To Be Confused And Condemned
by Reuven Brenner
June 1996, Volume 9, Issue 2
- 4-4 Dividends Do Matter
by R.H. Jeffrey - 8-23 Evolution Or Extinction: Where Are Banks Headed?
by Christopher James & Joel Houston - 52-73 The Role Of Financial Relationships In The History Of American Corporate Finance
by Charles W. Calomiris & Carlos D. Ramirez - 74-82 The Value Added By Bank Acquisitions: Lessons From Wells Fargo'S Acquisition Of First Interstate
by Joel F. Houston & Michael D. Ryngaert - 83-93 Raroc At Bank Of America: From Theory To Practice
by Edward Zaik & John Walter & Gabriela Retting & Christopher James - 94-109 Eva® For Banks: Value Creation, Risk Management, And Profitability Measurement
by Dennis G. Uyemura & Charles C. Kantor & Justin M. Pettit - 114-128 Why Banks Have A Future: Toward A New Theory Of Commercial Banking
by Raghuram G. Rajan
March 1996, Volume 9, Issue 1
- 4-16 The Dividend Cut “Heard‘Round The World”: The Case Of Fpl
by Dennis Soter & Eugene Brigham & Paul Evanson - 16-22 Dividends:ThePuzzle
by Peter L. Bernstein - 23-35 The Record On Privatization
by William L. Megginson & Robert C. Nash & Matthias van Randenborgh - 35-41 The Efficient Market Theory Thrives on Criticism
by Dwight R. Lee & James A. Verbrugge - 41-50 The Impact Of Macroeconomic News On Financial Markets
by Louis H. Ederington & Jae Ha Lee - 50-60 The Purchase Vs. Pooling Controversy: How The Stock Market Responds To Goodwill
by Michael L. Davis - 60-70 How The Market Values The Different Stages Of Corporate R&D—Initiation, Progress, And Commercialization
by George E. Pinches & V. K. Narayanan & Kathryn M. Kelm - 70-79 Using Earnings And Free Cash Flow To Evaluate Corporate Performance
by Richard G. Sloan - 79-88 Investing In Distressed Securities
by Walter J. Bloomenthal - 88-93 Executive Compensation In The U.K
by Michael J. Brennan - 93-98 Market‐Controlled Stock Options: A New Approach To Executive Compensation
by Aigbe Akhigbe & Jeff Madura & Alan L. Tucker - 98-104 The How And Why Of Eva® At Cs First Boston
by Alfred Jackson - 104-116 Eva® In The Computer Industry
by Steven Milunovich & Albert Tsuei - 116-126 Eva® And Market Value
by Stephen F. O'Byrne
January 1996, Volume 8, Issue 4
- 4-17 On Financial Architecture: Leverage, Maturity, And Priority
by Michael J. Barclay & Clifford W. Smith - 18-29 LBOs‐THE EVOLUTION OF FINANCIAL STRUCTURES AND STRATEGIES
by Jay R. Allen - 30-44 Using Capital Structure To Communicate With Investors: The Case Of Cuc International
by Paul M. Healy & Krishna G. Palepu - 45-60 The Market Pricing Of Cash Flow Forecasts: Discounted Cash Flow Vs. The Method Of “Comparables”
by Steven N. Kaplan & Richard S. Ruback - 61-70 Lessons On Capital Structure From Chapter 11 Reorganizations
by Michael J. Alderson & Brian L. Betker - 73-83 Financing Growth After The Ipo
by Jean Helwege & Nellie Liang - 84-96 Leveraged Recaps And The Causes Of Financial Distress
by David J. Denis & Diane K. Denis - 99-106 Prepacks As A Mechanism For Resolving Financial Distress: The Evidence
by John J. McConnell & Ronald C. Lease & Elizabeth Tashjian - 107-111 The Stern Stewart Performance 1000
by Irwin Ross
September 1995, Volume 8, Issue 3
- 4-18 Financial Risk Management For Developing Countries: A Policy Overview
by Donald R. Lessard - 19-29 Making Accounting More International: Why, How, And How Far Will It Go?
by Ray Ball - 30-38 Globalization Of Capital Markets And The Cost Of Capital: The Case Of Nestlé
by René M. Stulz - 39-48 When Theory Fails: Globalization As A Response To The (Hostile) Market For Foreign Exchange
by Dennis E. Logue - 49-57 Uses And Abuses Of Currency Options
by Ian H. Giddy & Gunter Dufey - 75-81 A Look At Indirect Foreign Currency Exposure
by John Pringle - 82-94 Issues In Foreign Exchange Hedge Accounting
by Michael H. Moffett & Douglas J. Skinner - 95-102 Home Bias In Equity Portfolios And The Cost Of Capital For Multinational Firms
by Ian Cooper & Evi Kaplanis - 103-114 What New Currency Risk Products Are Companies Using, And Why?
by Kurt Jesswein & Chuck C. Y. Kwok & William R. Folks - 115-120 Foreign Exchange Budget Rates: How They Can Affect The Firm
by Arnold Miyamato & Stephen Godfrey
June 1995, Volume 8, Issue 2
- 4-18 Specific And General Knowledge, And Organizational Structure
by Michael C. Jensen & William H. Heckling - 19-31 The Economics Of Organizational Architecture
by James Brickley & Clifford Smith & Jerold Zimmerman - 32-46 The Eva® Financial Management System
by Joel M. Stern & G. Bennett Stewart & Donald H. Chew - 47-54 Putting Performance Measures To Work
by G.Robert Mueblbauser - 55-59 A Case Of Mistaken Identity: The Use Of Expense/Revenue Ratios To Measure Ratios To Measure Bank Efficiency
by Jon Osborne - 60-67 Transfer Pricing And The Control Of Internal Corporate Transactions
by James Brickley & Clifford Smith & Jerold Zimmerman - 68-76 Value Creation In The Internal Corporate Market: Designing Effective Intra‐Company Charges
by Marc Hodak - 77-86 Total Compensation Strategy
by Stephen F. O'Byrne - 87-96 Managerial Incentives, Monitoring, And Risk Bearing In Initial Public Offering Firms
by Randolph P. Beatty & Edward J. Zajac - 97-110 An Expanded Role For Private Pensions In U.S. Corporate Governance
by Arnold W. Sametz - 111-119 The Modern Corporation And Private Pensions: Strong Managers, Weak Owners
by Mark J. Roe
March 1995, Volume 8, Issue 1
- 1-32 Shareholders As Agents And Principals: The Case For South Africa'S Corporate Governance System
by Graham Barr & Jos Gerson & Brian Kantor - 4-18 The Theory Of Stock Market Efficiency: Accomplishments And Limitations
by Ray Ball - 32-43 Concentrated Ownership And Discounts On Closed‐End Funds
by Michael J. Barclay & Clifford G. Holderness & Jeffrey Pontiff - 43-53 A Perspective On Accounting And Stock Prices
by Michael J. Brennan - 53-59 In Defense Of Beta
by S. P. Kothari & Jay Shanken - 59-64 Investor Base, Cost Of Capital, And New Listings On The Nyse
by Gregory B. Kadlec & John J. McConnell - 64-70 Do Stock Prices Reflect Fundamental Values?
by J. Randall Woolridge - 70-78 Equity Market Transparency On The London Stock Exchange
by Julian Franks & Stephen Schaefer - 78-86 Succession Strategies: Tools For Creating Multigenerational Wealth
by Leonard P. Diorio & Ross A. Fasano & John A. McAdams - 86-105 The Collapse Of Metallgesellschaft: Unhedgeable Risks, Poor Hedging Strategy, Or Just Bad Luck?
by Franklin R. Edwards & Michael S. Canter - 106-121 Maturity Structure Of A Hedge Matters: Lessons From The Metallgesellschaft Debacle
by Antonio S. Mello & John E. Parsons - 121-128 Hedging In The Theory Of Corporate Finance: A Reply To Our Critics
by Christopher L. Culp & Merton H. Miller - 128-128 Why Buffett Is Different From The Rest
by Donald H. Chew
January 1995, Volume 7, Issue 4
- 4-19 The Determinants Of Corporate Leverage And Dividend Policies
by Michael J. Barclay & Clifford W. Smith & Ross L. Watts - 20-35 Financial Policy As A Catalyst For Organizational Change: Sealed Air'S Leveraged Special Dividend
by Karen Hopper Wruck - 38-52 The Benefits Of High Leverage: Lessons From Kroger'S Leveraged Recap And Safeway'S Lbo
by David J. Denis - 53-61 Three Pieces To The Capital Structure Puzzle: The Cases Of Alco Standard, Comdisco, And Revco
by Steven C. Patrick - 62-76 Metallgesellschaft And The Economics Of Synthetic Storage
by Christopher L. Culp & Merton H. Miller - 77-89 Using A Percs‐For‐Common Exchange Offer To Reduce The Costs Of A Dividend Cut
by Douglas R. Emery & John D. Finnerty - 90-104 Securities Innovations: A Historical And Functional Perspective
by Peter Tufano - 105-110 The 1994 Stern Stewart Performance 1000
by Laura Walbert
September 1994, Volume 7, Issue 3
- 8-22 Risk And Regulation In Derivatives Markets
by Ludger Hentschel & Clifford W. Smith - 22-33 A Framework For Risk Management
by Kenneth A. Froot & David S. Scharfstein & Jeremy C. Stein - 33-52 Banc One Corporation: Asset And Liability Management
by Ben Esty & Peter Tufano & Jonathan Headley - 52-59 Commentaries On Banc One'S Hedging Strategy
by Robert Albertson - 66-73 A Practical Framework For Corporate Exposure Management
by Joseph Bauman & Steve Saratore & William Liddle - 73-85 Structured Debt And Corporate Risk Management
by Christopher L. Gulp & Dean Furbush & Barbara T. Kavanagh - 85-99 Anatomy of the Structured Note Market
by Leland E. Crabbe & Joseph D. Argilagos - 99-112 The Risks Of Mortgage Backed Securities And Their Derivatives
by Charles Austin Stone & Anne Zissu
June 1994, Volume 7, Issue 2
- 4-19 The Nature Of Man
by Michael C. Jensen & William H. Meckling - 20-30 Ethics, Incentives, And Organizational Design
by James Brickley & Clifford W. Smith & Jerold L. Zimmerman - 31-39 Incentives, Rationality, And Society
by Michael J. Brennan - 40-45 Self‐Interest, Altruism, Incentives, And Agency Theory
by Michael C. Jensen - 46-70 Stern Stewart Evatm Round Table
by Carm Adimando & Robert Butler & Susan Malley - 71-84 Eva™: Fast And Fantasy
by G. Bennett Stewart - 85-87 To Evatm Or Not To Eva: Is That The Question?
by Timothy J. Sheehan - 88-90 The Case For Expensing Stock Options Against Earnings
by Merton H. Miller & Graef S. Crystal - 91-99 How (And Why) Companies Should Value Their Employee Stock Options
by Craig McCann - 100-107 Some New Evidence That Spinoffs Create Value
by Patrick Cusatis & Lehman Brothers & James A. Miles & J. Randall Woolridge - 108-116 Referenda And Initiatives: The Cure For Democracy'S Spending Problem
by Reuven Brenner
March 1994, Volume 7, Issue 1
- 4-15 The Growing Middle Market Demand For Sophisticated Financial Products
by Marcus W. Acheson - 39-48 Patient Power: The Free‐Enterprise Approach to the U.S. Health Care Problem
by John C. Goodman & Gelard L. Musgrave - 48-58 Harvesting The Entrepreneurial Venture: A Time For Creating Value
by J. William Petty & William D. Bygrave & Joel M. Shulman - 59-65 Organizing The Firm: Choosing The Right Business Entity
by Christian Rexer & Timothy J. Sheehan - 66-74 The Market'S Problems With The Pricing Of Initial Public Offerings
by Roger G. Ibbotson & Jody L. Sindelar & Jay R Ritter - 75-84 Extending Trade Credit And Financing Receivables
by Shehzad L. Mian & Clifford W. Smith - 85-85 The State Of The High Yield Bond Market: Overshooting Or Return To Normalcy?
by Martin S. Fridson - 98-102 How Eva™ Can Help Turn Mid‐Sized Firms Into Large Companies
by Marc Hodak - 103-112 Savings, Capital Gains, And Risk‐Taking: Toward An Entrepreneurial Theory Of Growth
by David P. Goldman
January 1994, Volume 6, Issue 4
- 4-23 The Modern Industrial Revolution, Exit, And The Failure Of Internal Control Systems
by Michael C. Jensen - 25-31 To Whom Does The Company Belong?: A New Management Mission For The Information Age
by Joichi Aoi - 32-39 Is American Corporate Governance Fatally Flawed?
by Merton H. Miller - 40-50 Corporate Governance Or Corporate Value Added?: Rethinking The Primacy Of Shareholder Value
by C. K. Prahalad - 51-54 Managing For Shareholders In A Shrinking Industry: The Case Of Grumman
by Renso Caporali - 55-69 THE CORPORATE RESTRUCTURING OF THE 1980S—AND ITS IMPORT FOR THE 1990s
by Gordon Donaldson - 70-74 Is The Dazzle Of Our Markets Blinding Or Enlightening?
by Peter L. Bernstein