Table Of Contentindex  to Volume  64 
General  Index 
The Agency Costs of Free Cash Flow: Acquisition Activ- 
ity and Equity  Issues 
Steven  V. Mann and Neil W. Sicherman 
The Aggregate  and Distributional  Effects of the Tax Re- 
form Act of 1986 on  Firm  Valuation 
Dan Givoly and Carla  Hayn 
Changes in the Standard  and Poor’s  500 List 
Upinder Dhillon  and Herb Johnson 
Empirical  Tests  of  the  Bias  and  Efficiency  of  the 
Extreme-Value  Variance  Estimator for Common  Stocks 
James  B.  Wiggins 
The Impact of New Product  Introductions on the Market 
Value of Firms 
Paul  K.  Chaney,  Timothy  M.  Devinney,  and Russell 
S. Winer 
Implications  of Current  Factor  Proportions  Indices  for 
the Competitive  Position of the U.S.  Manufacturing and 
Service  Industries  in the Year 2000 
Refik Erzan and Alexander J.  Yeats 
Information  Mirages in Experimental  Asset  Markets 
Colin Camerer and Keith  Weigelt 
Luck  versus  Forecast  Ability:  Determinants  of Trader 
Performance  in Futures  Markets 
Michael L. Hartzmark 
Monetary  Base  Growth,  Deposit  Growth,  and  Inflation 
in the Postwar  United  States 
John F. Boschen  and Kathleen  E. Talbot 
Naive  Trading  Rules  in Financial  Markets  and  Wiener- 
Kolmogorov  Prediction  Theory:  A Study of *‘Technical 
Analysis” 
Salih N. Neftci 
Off-Floor  Trading,  Disintegration,  and  the  Bid-Ask 
Spread in Experimental  Markets 
Joseph Campbell, Shawn LaMaster,  Vernon L. Smith, 
and Mark  Van Boening 
Regulation,  Advertising,  and Economic  Welfare 
David L. Kaserman  and John  W. Mayo
Journal of Business 
Renting Ideas 
Christopher D. Hall 
Shelf Registration  and  the  Market  for Seasoned  Equity 
Offerings 
David J. Denis 
A Standard Data Base for the Analysis of Japanese Secu- 
rity Markets 
Yasushi Hamao 
Stock  Index  Futures  and  Index  Arbitrage  in a Rational 
Expectations  Model 
Anne Fremault 
Stock  Price  Movements  around  Acquisition  Announce- 
ments  and Management’s  Response 
Robert H. Jennings  and Michael A. Mazzeo 
Stock  Prices and the Dissemination of Analysts’  Recom- 
mendations 
Messod D. Beneish 
The Survival  of Noise Traders in Financial  Markets 
J. Bradford  De  Long,  Andrei  Shleifer,  Lawrence  H. 
Summers,  and Robert J. Waldmann 
The  Tax-Timing  Option  and  the  Discounts  on  Closed- 
End Investment  Companies 
James  Brickley,  Steven  Manaster,  and James  Schall- 
heim 
Technological  Change in Large U.S. Commercial  Banks 
William  C. Hunter and Stephen G. Timme 
Transactional  Risk, Market Crashes, and the Role of Cir- 
cuit Breakers 
Bruce C. Greenwald and Jeremy C. Stein 
Why Investors  Value  Multinationality 
Randall Morck and Bernard  Yeung 
Index to Authors 
Messod D. Beneish 
Stock  Prices and the Dissemination  of Analysts’  Rec- 
ommendations 
John F. Boschen  and Kathleen  E. Talbot 
Monetary Base Growth, Deposit Growth, and Inflation 
in the Postwar  United  States 
James Brickley, Steven Manaster, and James Schallheim 
The Tax-Timing Option and the Discounts  on Closed- 
End Investment  Companies 
Colin Camerer and Keith  Weigelt 
Information  Mirages in Experimental  Asset  Markets 
Joseph  Campbell,  Shawn  LaMaster,  Vernon  L. Smith, 
and Mark  Van Boening 
Off-Floor  Trading,  Disintegration,  and  the  Bid-Ask 
Spread in Experimental  Markets
Index to Volume 64  629 
573  Paul K. Chaney,  Timothy  M. Devinney,  and Russell S. 
Winer 
The Impact of New Product  Introductions on the Mar- 
ket Value of Firms 
J.  Bradford  De  Long,  Andrei  Shleifer,  Lawrence  H. 
Summers,  and Robert J. Waldmann 
The Survival  of Noise Traders in Financial  Markets 
David J. Denis 
Shelf Registration and the Market for Seasoned  Equity 
Offerings 
Upinder Dhillon and Herb Johnson 
Changes in the Standard  and Poor’s 500 List 
Refik Erzan and Alexander J.  Yeats 
Implications of Current  Factor Proportions Indices for 
the  Competitive  Position  of the  U.S.  Manufacturing 
and Service  Industries  in the Year 2000 
Anne R. Fremault 
Stock Index  Futures and Index Arbitrage in a Rational 
Expectations  Model 
Dan Givoly and Carla Hayn 
The  Aggregate  and  Distributional  Effects  of the Tax 
Reform  Act of {¥%@6 on  Firm Valuation 
Bruce  C. Greenwald und Jeremy C. Stein 
Transactional  Risk,  Market  Crashes,  and the Role  of 
Circuit  Breakers 
Christopher D. Hall 
Renting Ideas 
Yasushi Hamao 
A Standard  Data  Base  for the  Analysis  of Japanese 
Security  Markets 
Michael L. Hartzmark 
Luck versus  Forecast  Ability:  Determinants  of Trader 
Performance  in Futures  Markets 
William  C. Hunter and Stephen G. Timme 
Technological  Change  in  Large  U.S.  Commercial 
Banks 
Robert  H. Jennings and Michael A. Mazzeo 
Stock  Price  Movements  around  Acquisition  An- 
nouncements  and Management’s  Response 
David L. Kaserman  and John  W. Mayo 
Regulation,  Advertising,  and Economic  Welfare 
Steven  V. Mann and Neil W. Sicherman 
The Agency Costs of Free Cash Flow: Acquisition Ac- 
tivity and Equity Issues 
Randall Morck and Bernard  Yeung 
Why Investors  Value  Multinationality 
Salih N. Neftci 
Naive  Trading  Rules  in  Financial  Markets  and 
Wiener-Kolmogorov  Prediction  Theory:  A Study  of 
‘*Technical  Analysis”’
Journal of Business 
James B.  Wiggins 
Empirical  Tests  of the  Bias  and  Efficiency  of the 
Extreme-Value  Variance  Estimator  for  Common 
Stocks 
BOSTON  COLLEGE 
Wallace E. Carroll School of Management 
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We address the theory and quantitative  The AACSB accredited program builds 
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