Aragon, George O.; Strahan, Philip E. - In: Journal of Financial Economics 103 (2012) 3, pp. 570-587
Hedge funds using Lehman as prime broker faced a decline in funding liquidity after the September 15, 2008 bankruptcy. We find that stocks held by these Lehman-connected funds experienced greater declines in market liquidity following the bankruptcy than other stocks; the effect was larger for...