HOME / PUBLICATIONS /

Publications by Type: Journal Article

1991
Froot, K.A., and Jeremy Stein. “Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach.” Quarterly Journal of Economics 106, no. 4 (1991): 1191–1217. Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach

Revised from NBER Working Paper No. 2914, March 1989.

Froot, K.A., and M. Obstfeld. “Exchange-rate Dynamics under Stochastic Regime Shifts: A Unified Approach.” Journal of International Economics 31, no. 3-4 (1991): 203–229. Exchange-rate Dynamics under Stochastic Regime Shifts: A Unified Approach

Revised from NBER Working Paper No. 2835, February 1989.

1992
Froot, Kenneth A., André Perold, and J. Stein. “Shareholder Trading Practices and Corporate Investment Horizons.” Journal of Applied Corporate Finance 5, no. 2 (1992): 42–58. Shareholder Trading Practices and Corporate Investment Horizons
Froot, Kenneth A., David S. Scharfstein, and Jeremy Stein. “Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation.” Journal of Finance 47, no. 4 (1992): 1461–1484. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation

Revised from NBER Working Paper No. 3250, February 1990.

Froot, Kenneth A. “Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market.” International Business Reader (1992). Publisher's Version Exchange Rate Forecasting Techniques, Survey Data, and Implications for the Foreign Exchange Market
London: Oxford University Press, 1992. (Revised from IMF Working Paper no. 90/43.) NBER Working Paper no. 3470, October 1990.
1993
Froot, Kenneth A., and John Y. Campbell. “What about International Experiences and Migrating Markets?” MIDAMERICA Institute (1993). what_about_international_experiences.pdf
Froot, Kenneth A., David S. Scharfstein, and Jeremy Stein. “Risk Management: Coordinating Corporate Investment and Financing Policies.” Journal of Finance 48, no. 5 (1993): 1629–1658. Risk Management: Coordinating Corporate Investment and Financing Policies
  • Revised from NBER Working Paper No. 4084, February 1993.
  • Reprinted in RAE-Revista de Administração de Empresas, Management Journal of Fundação Getulio Vargas (FGV-EAESP), Business School for Administration in Sao Paulo, Brazil, volume no. 48, issue no. 1 (January-March 2008): 87-118.
  • Reprinted in Insurance and Risk Management, Volume II, Corporate Risk Management, Part I: Theory on Why and How Firms Manage Risk, Chapter 3, edited by Gregory R. Niehaus, U.K.: Edward Elgar Publishing (October 2008). Also in M.J. Brennan, The Theory of Corporate Finance from The International Library of Critical Writings in Financial Economics, edited by R. Roll, 1995; and in Merton Miller and Chris Culp, eds. Corporate Hedging in Theory and Practice: Lessons from Metallgesellschaft, Risk Books, 1999.
Froot, K.A. “On the Speculative Efficiency of the Foreign Exchange Market.” Cuadernos económicos de I.C.E. (1993): 7-30. On the Speculative Efficiency of the Foreign Exchange Market
1994
Froot, K., David S. Scharfstein, and J. Stein. “A Framework for Risk Management.” Harvard Business Review 72, no. 6 (1994): 91-102. A Framework for Risk Management

Revised from "Developing a Risk Management Strategy," Harvard Business School Working Paper No. 95-021. Reprinted in Bank of America Journal of Applied Corporate Finance 7, no. 3 (fall 1994): 22-32; Marsh & McLennan Companies' Viewpoint 24 (spring 1995): 21-37; and in Corporate Risk: Strategies and Management, edited by Greg Brown and Don Chew, London: Risk Books, December 1999.

1995
Froot, K.A., B. Murphy, A. Stern, and S. Usher. “The Emerging Asset Class: Insurance Risk.” Viewpoint 24, no. 3 (1995): 19–28. The Emerging Asset Class: Insurance Risk

Originally "Special Report from Guy Carpenter and Company, Inc.," July 1995.

Froot, Kenneth A., and Andre F. Perold. “New Trading Practices & Short-run Market Efficiency.” Journal of Futures Markets 15, no. 7 (1995): 731-765. New Trading Practices and Short-Run Market Efficiency
Engel, C., J. Frankel, K. Froot, and T. Rodrigues. “Tests of Conditional Mean-Variance Efficiency of the U.S. Stock Market.” Journal of Empirical Finance 2 (1995): 3-18. Tests of Conditional Mean-Variance Efficiency of the U.S. Stock Market

Revised from NBER Working Paper Nos. 2890, March 1989 and 4292, March 1993, "Conditional Mean-Variance Efficiency of the U.S. Stock Market," March 1993.

Froot, Kenneth A. “Hedging Portfolios with Real Assets.” Journal of Portfolio Management 21, no. 4 (1995): 60-77. Hedging Portfolios with Real Assets

Harvard Business School Working Paper 95-045.

1998
Froot, K.A., and J. Stein. “Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach.” Journal of Financial Economics 47, no. 1 (1998): 55–82. Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach
  • Winner of the 1998 Journal of Financial Economics Jensen Prize for first place for the best paper in the areas of corporate finance and organizations.
  • Revised from NBER Working Paper No. 5403, January 1996 and Harvard Business School Working Paper 96-030, December 1995.
Froot, K.A., and J. Stein. “A New Approach to Capital Budgeting for Financial Institutions.” Journal of Applied Corporate Finance 11, no. 2 (1998): 59–69. A New Approach to Capital Budgeting for Financial Institutions
1999
Froot, K.A. “The Evolving Market for Catastrophe Event Risk.” Risk Management and Insurance Review 2, no. 3 (1999): 1–28. The Evolving Market for Catastrophe Event Risk

Reprinted in Risk Management: The State of the Art, edited by S. Figlewski and R. Levich, Kluwer Academic Publishers, 2001.

Froot, K.A., and E. Dabora. “How Are Stock Prices Affected by the Location of Trade?” Journal of Financial Economics 53, no. 2 (1999): 189–216. How are Stock Prices Affected by the Location of Trade?

Reprinted in International Capital Markets, R. Stulz and A. Karolyi, eds. Edward Elgar Publishing, 2003. Also reprinted in Advances in Behavioral Finance, Vol. 2, edited by Richard Thaler. New Jersey: Princeton University Press; New York: Russell Sage Foundation, July 2005, 102-129.

2000
Froot, Kenneth A., and Steven Posner. “Issues in the Pricing of Catastrophe Risk.” Marsh & McLennan (2000). Issues in the Pricing of Catastrophe Risk
2001
Froot, K.A. “The Market for Catastrophe Risk: A Clinical Examination.” Journal of Financial Economics 60, no. 2-3 (2001): 529–571. The Market for Catastrophe Risk: A Clinical Examination

Revised from NBER Working Paper No. 8110, February 2001. Reprinted in The Economics of Natural Hazards, part of the International Library of Critical Writings in Economics series edited by Mark Blaug, U.K.: Edward Elgar Publishing, 2003.

Froot, K.A., P. O'Connell, and M. Seasholes. “The Portfolio Flows of International Investors.” Journal of Financial Economics 59, no. 2 (2001): 151–193. The Portfolio Flows of International Investors
  • Revised from NBER Working Paper No. 6687 and HBS Working No. Paper 99-006, July 1998. Summarized in the NBER Reporter, 2000.
  • Reprinted in International Capital Markets, R. Stulz and A. Karolyi, eds. U.K.: Edward Elgar Publishing, 2003.

Pages