Results 141 to 150 of about 24,822 (265)
Liquidity Crises and the Market‐Maker of Last Resort
Journal of Money, Credit and Banking, EarlyView.Abstract We study market illiquidity in an economy subject to nonfundamental shocks. Asset trading occurs via decentralized bargaining. The model has multiple rational expectations equilibria; we associate certain Pareto‐inferior equilibria with liquidity crises.
CHARLES M. KAHN +2 more
wiley +1 more source
The Fair Value of Minority Stock in Closely Held Corporations [PDF]
, 1993 In this Article, Professor Shishido examines the various methods—those used by the courts as well as those suggested by law and economics scholars—for determining the fair value of minority stock in closely held corporations.
Shishido, Zenichi
core +1 more source
Predictive and Contemporaneous Power of the Determinants of Stock Liquidity. [PDF]
Front Psychol, 2022 Xie L, Jin Y, Mo C.
europepmc +1 more source
Journal of Money, Credit and Banking, EarlyView.Abstract We evaluate whether deposit insurance (DI) promotes liquidity by influencing depositor behavior. We use the postal savings (PS) system and state‐adopted DI schemes during the 1920s to examine the effect of bank suspensions on PS deposit growth in pairs of border cities (DI versus non‐DI).
Lee K. Davison, Carlos D. Ramirez
wiley +1 more source
Asymmetries in factors influencing non-fungible tokens’ (NFTs) returns
Financial InnovationThe asymmetries of factors influencing the return of cryptocurrencies have already been well documented; however, in the case of NFTs, only information asymmetries and hedging properties related to asymmetries were studied.
Botond Benedek, Bálint Zsolt Nagy
doaj +1 more source
Banking with Inside Money: An Efficiency Analysis
Journal of Money, Credit and Banking, EarlyView.Abstract We show that banks do not decentralize the first best in a nominal Diamond–Dybvig economy with inside money. Furthermore, state‐contingent deposit contracts do not expand the consumption possibility set to include the first best either. Central banks can improve welfare but only for savers and only with unconventional monetary policy. Finally,
DAVID RIVERO +1 more
wiley +1 more source
Expected returns and liquidity risk: Does entrepreneurial income matter? [PDF]
This paper studies the effects of jointly incorporating liquidity risk and non-tradeable wealth in a single asset pricing equation. First, I propose an overlapping-generations model with random endowment shocks and liquidity risk, evaluating their joint ...
Saffi, Pedro
core
COVID-19 and market structure dynamics. [PDF]
J Bank Financ, 2023 Cox J, Woods D.
europepmc +1 more source
A Comprehensive Revisit to the Safe‐Haven Assets Literature
Journal of Economic Surveys, EarlyView.ABSTRACT A large number of studies examine the safe‐haven characteristics of different asset classes. However, this paper addresses a lack of systematic literature reviews and bibliometric analyses with a sound theoretical viewpoint the safe‐haven assets literature by focusing on 1305 studies published in top‐tier journals during 2013–2026 from the ...
Javed Bin Kamal +3 more
wiley +1 more source
Leader‐Follower Dynamics in Shareholder Activism
The Journal of Finance, EarlyView.ABSTRACT We propose a theory of coordination and influence among blockholders. Privately informed activists time their trades in sequence to lower acquisition costs, prompting a strategic use of order flows: leader activists create trading gains for their followers, ultimately influencing their willingness to bear greater value‐enhancing intervention ...
DORUK CETEMEN +3 more
wiley +1 more source