Preface, by John H. Cochrane and Tobias J. Moskowitz
I. Introductions
My Life in Finance
Eugene F. Fama
Things I’ve Learned from Gene Fama
Kenneth R. French
Gene Fama’s Impact: A Quantitative Analysis
G. William Schwert and René M. Stulz
II. Efficient Markets
Efficient Markets and Empirical Finance
John H. Cochrane and Tobias J. Moskowitz
The Great Divide
Clifford Asness and John Liew
Efficient Capital Markets: A Review of Theory and Empirical Work
Eugene F. Fama
Efficient Capital Markets: II
Eugene F. Fama
Market Efficiency, Long-Term Returns, and Behavioral Finance
Eugene F. Fama
III. Efficiency Applied: Event Studies and Skill
Fama, Fisher, Jensen, and Roll (1969): Retrospective Comments
Ray Ball
Eugene Fama and Industrial Organization
Dennis W. Carlton
The Adjustment of Stock Prices to New Information
Eugene F. Fama, Lawrence Fisher, Michael C. Jensen, and Richard Roll
Luck versus Skill
John H. Cochrane and Tobias J. Moskowitz
Luck vs. Skill and Factor Selection
Campbell R. Harvey and Yan Liu
Luck versus Skill in the Cross-Section of Mutual Fund Returns
Eugene F. Fama and Kenneth R. French
IV. Risk and Return
Risk and Return
John H. Cochrane and Tobias J. Moskowitz
Risk, Return, and Equilibrium: Empirical Tests
Eugene F. Fama and James D. MacBeth
The Cross-Section of Expected Stock Returns
Eugene F. Fama and Kenneth R. French
Common Risk Factors in the Returns on Stocks and Bonds
Eugene F. Fama and Kenneth R. French
Multifactor Explanations of Asset Pricing Anomalies
Eugene F. Fama and Kenneth R. French
V. Return Forecasts and Time-Varying Risk Premiums
Return Forecasts and Time Varying Risk Premiums
John H. Cochrane
Short-Term Interest Rates as Predictors of Inflation
Eugene F. Fama
Forward Rates as Predictors of Future Spot Rates
Eugene F. Fama
Forward and Spot Exchange Rates
Eugene F. Fama
Dividend Yields and Expected Stock Returns
Eugene F. Fama and Kenneth R. French
The Information in Long-Maturity Forward Rates
Eugene F. Fama and Robert R. Bliss
VI. Corporate Finance and Banking
Corporate Finance
Amit Seru and Amir Sufi
Agency Problems and the Theory of the Firm
Eugene F. Fama
Separation of Ownership and Control
Eugene F. Fama and Michael C. Jensen
Dividend Policy: An Empirical Analysis
Eugene F. Fama and Harvey Babiak
Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay?
Eugene F. Fama and Kenneth R. French
Financing Decisions: Who Issues Stock?
Eugene F. Fama and Kenneth R. French
Banking in the Theory of Finance
Eugene F. Fama
Conclusion: Our Colleague, by John H. Cochrane and Tobias J. Moskowitz
Contributors