找回密码
 立即注册

Top Cited Articles of The Journal of Finance(04)

2019-2-20 17:15| 发布者: sujiaoshou| 查看: 380| 评论: 0|原作者: 金融经济学|来自: 金融经济学

摘要: Top Cited Articles of The Journal of Finance(04)

Top Cited Articles of The Journal of Finance(04)

金融经济学 6天前

 

1、Legal Determinants of External Finance

The Journal of Finance, 1997, 52(3): 1131-1150

 

Rafael La PortaHarvard University

Florencio Lopez-De-Silanes, Harvard University

Andrei ShleiferHarvard University

Robert W. VishnyUniversity of Chicago

 

Abstract

Using a sample of 49 countries, we show that countries with poorer investor protections, measured by both the character of legal rules and the quality of law enforcement, have smaller and narrower capital markets. These findings apply to both equity and debt markets. In particular, French civil law countries have both the weakest investor protections and the least developed capital markets, especially as compared to common law countries.

原文链接:

https://www.jstor.org/stable/2329518

 

 

2、Financial Ratios, Discriminant Analysis And Prediction Of Corporate Bankruptcy

The Journal of Finance, 1968, 23(4): 589-609

 

Edward I. AltmanNew York University

 

Abstract

Can we bridge the gap, rather than sever the link, between traditional ratio "analysis" and the more rigorous statistical techniques which have become popular among academicians in recent years? The purpose of this paper is to attempt an assessment of this issue-the quality of ratio analysis as an analytical technique. The prediction of corporate bankruptcy is used as an illustrative case. Specifically, a set of financial and economic ratios will be investigated in a bankruptcy prediction context wherein a multiple discriminant statistical methodology is employed. The data used in the study are limited to manufacturing corporations.

原文链接:

https://www.jstor.org/stable/2978933

 

 

3、On The Relation Between The Expected Value And The Volatility of The Nominal Excess Return On Stocks

The Journal of Finance, 1993, 48(5): 1779-1801

 

Lawrence R. Glosten, Columbia University

Ravi Jagannathan, the University of Minnesota

David E. Runkle, the University of Minnesota

 

Abstract

We find support for a negative relation between conditional expected monthly return and conditional variance of monthly return, using a GARCH-M model modified by allowing (1) seasonal patterns in volatility, (2) positive and negative innovations to returns having different impacts on conditional volatility, and (3) nominal interest rates to predict conditional variance. Using the modified GARCH-M model, we also show that monthly conditional volatility may not be as persistent as was thought. Positive unanticipated returns appear to result in a downward revision of the conditional volatility whereas negative unanticipated returns result in an upward revision of conditional volatility.

原文链接:

https://www.jstor.org/stable/2329067

 

END

 

发表评论

相关分类

用户反馈
客户端