The Journal Of Finance, an academic magazine sponsored by American Finance Association, has been cited for the most 50 times since its birth, mainly publishing articles on financial theory, investment, money, banking, insurance and financial markets. The magazine is currently published by American publisher Wiley-Blackwell on behalf of the American Financial Association. Impact factor in 2008: 4.0 18, ranking 1 among 48 similar ISI journals. It is one of the most cited journals in the financial and economic fields. Since the publication of 1946, Finance Magazine has published many papers of great concern, some of which have been enduring for a long time and have had an important impact on financial theory and practice. A few days ago, the editor of this magazine specially screened the top 50 articles that have been cited the most since the birth of Finance magazine for your reference. Harry Markowitz's paper "Portfolio Selection" published in the March issue of 1952 later became the cornerstone of portfolio management theory; 196 1 year, William Vickrey published an article in this magazine and made a classic analysis of this auction. A year later, william sharpe published "Capital Asset Price: Market Equilibrium Theory under Risk Conditions", and found the capital asset pricing model together with lintner's research. 1970 in may, Eugene F. Fama published "efficient market: a summary of theoretical and empirical research" and formally put forward the efficient market hypothesis; Four years later, Robert C. Merton published "Enterprise Debt Pricing", which solved the pricing problem of enterprises with option pricing model. At the end of the century, andrei shleifer published his research on corporate governance in this magazine, which is still widely quoted today ... When I first started reading The American Financial System, I wrote a book entitled Understanding Greenspan's Standards. Fama, the winner of last year's Nobel Prize, co-authored two books, Cross Section of Expected Return of Stock (1992) and Risk, Return and Equilibrium: Intelligence Test (1973), both of which are classics about CAPM. Recommended article "Multi-factor Interpretation of Asset Pricing Anonymity" Eugene F. Fama; Kenneth R. French Journal of Finance, Vol. 5 1,No. 1. (1March 1996), pp. 55-84. This is just a template for asset pricing demonstration.