This paper investigates the impact of illiquidity on insurance company asset allocation and selling strategy. The need … effects of transaction illiquidity. Using a simplified model of a risk neutral insurance company, we examine the effect of … determined numerically. While a clear diversification benefit is evident on the basis of illiquidity, under certain market …

, market illiquidity, and impacts on dividend and interest rates are considered. Part of the BAD tax revenue may be fictitious …

the absence of consensus in empirical research about the most appropriate liquidity measure, we applied the illiquidity …

The paper analyses the impact of illiquidity of a stock paying no dividends on the pricing of European options written … on that stock. In particular, it is shown how illiquidity generates price bounds on an option on this stock, even in the …

of illiquidity and show how these measures behave. We also show that the equilibrium amount of search may be less than …

prevent illiquidity becoming insolvency and launching ‘lifeboats’ can do the same. But the vulnerability of financial systems …