CORPORATE executives face three tasks in achieving good financial management. The
first is largely administrative and consists in finding an efficient procedure for preparing and …

CI NSIDERS" are officers, directors, and owners of ten per cent or more of the common stock
of the companies listed on the New York and American Stock Exchanges. The Securities …

We report here the findings of three studies we have conducted on the variability of returns
on investments in common stocks listed on the New York Stock Exchange. One study …

PURPOSE The sole purpose of the Center for Research in Security Prices is to conduct
research and to disseminate the results throughout the academic and financial communities. …

Iam VERY PLEASED to be here this evening, but I must confess to some surprise at having
been invited. I am not a statistician, nor am I rich enough or influential enough to be the …

… Fisher and JH Lorie, "Rates of Return on Investments in Common Stock," Journal of Business,
XXXVII, No. 1 (January, 1964), 1-21. 2 The single exception is that the first starting date is …

THE United States has been undergoing in recent years its third large merger movement.
This last movement, beginning perhaps in the mid 1950's, is larger in number of firms and in …

Efficiency in a securities market is a good thing. The benefits are of two sorts. First, having
market prices reflect" true" values causes the allocation of capital among competing uses to be …

T HIS special supplement of the Jour-nal of Business contains examples of recent quantitative
and formal research on the stock market. The editors of the Journal have urged me, as …

C ONSUMERS in this country today have very high incomes in comparison with those of
most previous periods in this country and of any period in any other country. Consumer …