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The TIPS—Treasury Bond Puzzle*

Forthcoming Articles

Author(s): Matthias Fleckenstein, Francis A. Longstaff, Hanno Lustig

ABSTRACT We show that the price of a Treasury bond and an inflation‐swapped TIPS issue exactly replicating the cash flows of the...

The Journal of Finance - Accepted Articles

The Business Cycle, Investor Sentiment, and Costly External Finance

Forthcoming Articles

Author(s): R. DAVID MCLEAN, MENGXIN ZHAO

ABSTRACT The recent financial crisis shows that financial markets can impact the real economy. We investigate whether access to...

The Journal of Finance - Accepted Articles

Mutual Fund Performance and the Incentive to Generate Alpha

Forthcoming Articles

Author(s): DIANE GUERCIO, JONATHAN REUTER

ABSTRACT To rationalize the well‐known underperformance of the average actively managed mutual fund, we exploit the fact that...

The Journal of Finance - Accepted Articles

Corporate Innovations and Mergers and Acquisitions

Forthcoming Articles

Author(s): JAN BENA, KAI LI

ABSTRACT Using a large and unique patent‐merger data set over the period 1984 to 2006, we show that companies with large patent...

The Journal of Finance - Accepted Articles

Time‐Varying Fund Manager Skill

Forthcoming Articles

Author(s): MARCIN KACPERCZYK, STIJN VAN NIEUWERBURGH, LAURA VELDKAMP

Abstract We propose a new definition of skill as general cognitive ability to pick stocks or time the market. We find evidence...

The Journal of Finance - Accepted Articles

Duration of Executive Compensation

Forthcoming Articles

Author(s): RADHAKRISHNAN GOPALAN, TODD MILBOURN, FENGHUA SONG, ANJAN V. THAKOR

Abstract Extensive discussions on the inefficiencies of “short‐termism” in executive compensation notwithstanding, little is...

The Journal of Finance - Accepted Articles

The Recovery Theorem

Forthcoming Articles

Author(s): STEVE ROSS

ABSTRACT We can only estimate the distribution of stock returns, but from option prices we observe the distribution of state...

The Journal of Finance - Accepted Articles

The Real Impact of Improved Access to Finance: Evidence from Mexico

Forthcoming Articles

Author(s): MIRIAM BRUHN, INESSA LOVE

ABSTRACT This paper provides new evidence on the impact of access to finance on poverty. It highlights an important channel...

The Journal of Finance - Accepted Articles

Taxes and Corporate Policies: Evidence From a Quasi Natural Experiment

Forthcoming Articles

Author(s): CRAIG DOIDGE, ALEXANDER DYCK

ABSTRACT We document important interactions between tax incentives and corporate policies using a “quasi natural experiment”...

The Journal of Finance - Accepted Articles

Volatility, the Macroeconomy, and Asset Prices

Forthcoming Articles

Author(s): RAVI BANSAL, DANA KIKU, IVAN SHALIASTOVICH, AMIR YARON

ABSTRACT How important are volatility fluctuations for asset prices and the macroeconomy? We find that an increase in...

The Journal of Finance - Accepted Articles

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