Ezequiel L. Machado, Willard T. Carleton, Financial Planning in a Regulated Environment, The Journal of Financial and Quantitative Analysis, Vol. 13, No. 4, Proceedings of Thirteenth Annual Conference of the Western Finance Association, June 20-26, 1978 (Nov., 1978), pp. 759-777

Of the behavioral recommendations garnered from modern capital market theory, few, if any, generalizations have been documented as convincingly as the simple advice to hold several assets in one's portfolio. Sharpe made such a conclusion perfectly clear when he stated [27, p. 184]:If the market is efficient and if an investor is privy to no special information or predictive power, what should he do? First, and most important: diversify.

In recent years a substantial number of empirical studies have been conducted concerning aggregate commercial bank behavior [2, 8, 11, 14, 15, 17, 18]. Although the scope of these studies has varied widely, none has included an adequate treatment of the relationship between commercial bank liability management and earning asset adjustments. The importance of the relationship between liability management and commercial bank asset behavior has been alluded to in the literature [3, 5, 6, 13, 18]; but there has been very little empirical investigation of the subject. Moreover, little is known about which assets and liabilities are primarily involved. By increasing or decreasing earning assets, the commercial banking system can create or eliminate deposits, thus affecting the supply of both money and bank credit. Since liability management and asset behavior are very closely related, it seems that an adequate understanding of this relationship is essential to understanding the money supply process.

Robert C. Klemkosky, Donald L. Tuttle, A Ranking of Doctoral Programs by Financial Research Contributions of Graduates, The Journal of Financial and Quantitative Analysis, Vol. 12, No. 3 (Sep., 1977), pp. 491-497

J. L. Sharma, Robert E. Kennedy, A Comparative Analysis of Stock Price Behavior on the Bombay, London, and New York Stock Exchanges, The Journal of Financial and Quantitative Analysis, Vol. 12, No. 3 (Sep., 1977), pp. 391-413

Donald C. Aucamp, Walter L. Eckardt, Jr., A Sufficient Condition for a Unique Nonnegative Internal Rate of Return-- Comment, The Journal of Financial and Quantitative Analysis, Vol. 11, No. 2 (Jun., 1976), pp. 329-332

A capital asset-pricing model which relates risk and return under conditions of changing price levels has been developed in this paper. The resulting model implies that price-level changes do not affect the expected real returns on individual assets except through their impact on the return of the market portfolio. If real market returns are independent of price-level movements, the model is very much like the standard capital asset-pricing model expressed in real returns. This version of the capital asset-pricing model does not, however, resolve all the difficulties associated with changing price levels, since we have assumed that the nominal default-free rate is determined outside the model and that relative prices do not change. These limitations, however, also apply to all other single-period capital asset-pricing models.In addition, the model was converted into nominal returns by assuming that price-level changes and the real market returns are uncorrelated. The resulting equation illustrates the difficulty involved in using nominal returns to test a model expressed in real returns. The same equation also provides a possible explanation for the noted discrepancies between the empirical' evidence found by Black, Jensen, and Scholes [3] and the prediction of the traditional capital asset-pricing model.

A temporary trading suspension in a listed security represents a temporal discontinuity in a continuous auction market. Although the SEC occasionally suspends trading in specific securities, the NYSE itself administratively halts trading in individual NYSE issues. The latter occur quite frequently (almost three per day on average), and typically last about two hours. NYSE-initiated suspensions are the focus of the present paper.

Robert H. Cramer, Stephen L. Hawk, The Consideration of Coupon Levels, Taxes, Reinvestment Rates, and Maturity in the Investment Management of Financial Institutions, The Journal of Financial and Quantitative Analysis, Vol. 10, No. 1 (Mar., 1975), pp. 67-84