Results 221 to 230 of about 5,444 (261)
Liquidity Shocks and Stock Bubbles [PDF]
SSRN Electronic Journal, 2013 Abstract This study presents and empirically tests a simple framework that examines the effects of market liquidity (the ease with which stocks are traded) and funding liquidity (the ease with which market participants can obtain funding) on stock market bubbles. Three key findings emerge from this research.
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Board Reforms, Stock Liquidity, and Stock Market Development
The Review of Corporate Finance Studies, 2022Abstract This paper studies the effect of board reforms on stock liquidity using data from 37 countries. We document that board reforms significantly increase stock liquidity: the effective spread on average decreases by 12.7% after a board reform.
Buhui Qiu, Thomas Y To
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Financial Analysts Journal, 1986
(1986). Liquidity and Stock Returns. Financial Analysts Journal: Vol. 42, No. 3, pp. 43-48.
Yakov Amihud, Haim Mendelson
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(1986). Liquidity and Stock Returns. Financial Analysts Journal: Vol. 42, No. 3, pp. 43-48.
Yakov Amihud, Haim Mendelson
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Liquidity Changes Following Stock Splits
The Journal of Finance, 1979THERE HAS BEEN CONSIDERABLE empirical research on the return behavior of common stocks in calendar intervals surrounding stock splits. A partial list includes work by Barker [2]; Johnson [25]; Hausman, West and Largay [21]; Fama, Fisher, Jensen, and Roll [16]; and Bar-Yosef and Brown [1].
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Individual investor trading and stock liquidity
Review of Quantitative Finance and Accounting, 2013Recent studies suggest that individual investors may have private information and their trading can be informative. Consistent with this observation, we find that stocks that are more heavily traded by individual investors have higher liquidity, after controlling for other determinants of liquidity. The result is robust to various model specifications,
Qin Wang, Jun Zhang
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SSRN Electronic Journal, 2005
Stock liquidity is a frequent consideration for primary or secondary issuance, stock splits, share repurchases and special dividends. However, there has been very little literature or rigorous guidance around what constitutes liquidity, its impact, and potential remedies. * How To Measure Stock Liquidity * The 'Liquidity Discount' * Policy Implications
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Stock liquidity is a frequent consideration for primary or secondary issuance, stock splits, share repurchases and special dividends. However, there has been very little literature or rigorous guidance around what constitutes liquidity, its impact, and potential remedies. * How To Measure Stock Liquidity * The 'Liquidity Discount' * Policy Implications
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The effects of stock splits on stock liquidity
Journal of Economics and Finance, 2013This study examines the effects of stock splits on stock liquidity. We find that most liquidity measures increase substantially around the stock split announcement. After the announcement date, split firms’ liquidity declines, but is still above the pre-split level. However, after the ex-date, the liquidity drops below the pre-split level.
Gow-Cheng Huang +2 more
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Stock liquidity and the Taylor rule
Journal of Empirical Finance, 2010Recent theoretical models have linked stock liquidity and commonality in liquidity to the market makers’ funding availability and financial constraints from liquidity supply side. This paper establishes the linkage between stock liquidity and real time macroeconomic variables through the Taylor rule, the monetary policy rule that Federal Reserve uses ...
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Liquid stock as an acquisition currency
Journal of Corporate FinanceWe examine how stock liquidity affects acquisitions. We hypothesize that liquidity enhances acquirer stock as an acquisition currency, especially when the target is relatively less liquid. As hypothesized, we find that more liquid firms have a greater likelihood of making stock acquisitions.
Huang, S, Maharjan, J, Nanda, V
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Liquidity, Skewness and Stock Returns: Evidence from Chinese Stock Market
Asia-Pacific Financial Markets, 2010In this paper, a capital asset pricing model (CAPM) incorporating liquidity and skewness factors is proposed and tested by using the Chinese stock market data. The empirical results indicate that, under various market conditions, the liquidity-adjusted three-moment CAPM provides a better fit to the realized returns of various stock portfolios. Overall,
Langnan Chen, Steven Li, Jinan Wang
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