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Business, Liquidity, and Information Cycles

Bostanci, Gorkem; Ordoñez, Guillermo - National Bureau of Economic Research - 2024

liquidity by quickly turning stocks into cash. We propose a trading model in which these two roles are endogenously related …: more intensive use of stocks for liquidity affects both the information and the noise about fundamentals contained in … banking system has trouble providing liquidity. We incorporate this module into a dynamic general equilibrium model to study …

Persistent link: https://www.econbiz.de/10014544779

Institutional investors and equity prices : information, behavioral bias and arbitrage

Han, Bing; Kong, Dongmin - 2017

This paper investigates how institutional investors matter for asset pricing by using daily institutional trading data and a natural experiment, the split–share structure reform in China. This reform required all listed companies to convert their non-tradable shares to tradable shares after...

Persistent link: https://www.econbiz.de/10011646414

The financial strength anomaly in the UK : information uncertainty or liquidity?

Kumsta, René; Vivian, Andrew - In: The European journal of finance 26 (2020) 10, pp. 925-957

Persistent link: https://www.econbiz.de/10012207343

Consumer attitudes, stock market liquidity, and the macro economy: A Canadian perspective

Smimou, K. - In: International Review of Financial Analysis 33 (2014) C, pp. 186-209

This study addresses the impact of equity market liquidity on Canadian economic growth and investigates how consumer … attitudes/sentiments affect the dynamic macro-liquidity relationship. Using various market liquidity proxies (e.g., illiquidity … results: we document the predictability role of liquidity on future economic growth, and we find that during periods of high …

Persistent link: https://www.econbiz.de/10011056763

Short-covering bubbles

Guimarães, Bernardo; Pannella, Pierluca - In: Journal of economic theory : JET 219 (2024), pp. 1-16

Persistent link: https://www.econbiz.de/10015070970

Stock liquidity and corporate cash holdings

Nyborg, Kjell G.; Wang, Zexi - 2013

the prediction from a standard information asymmetry perspective on stock liquidity. The effect should be amplifed by …-size decimalization as a natural experiment where liquidity is exogenously shocked. The evidence also suggests that cash holdings and … stock liquidity are mutually reinforcing. As predicted by theory, stock liquidity is affected by factors relating to …

Persistent link: https://www.econbiz.de/10010256421

Equity Markets in Transition : The Value Chain, Price Discovery, Regulation, and Beyond

Francioni, Reto (ed.); Schwartz, Robert A. (ed.) - 2017

This book underscores the complexity of the equity markets, the challenges they face, and the fact that they are still a work in process. Three interacting forces drive market change: competition, technology change, and regulatory change. The markets have one major objective in particular to...

Persistent link: https://www.econbiz.de/10012397410

How does stock liquidity affect corporate cash holdings in Japan? : a pre-registered report

Fujitani, Ryosuke; Iwata, Kiyonori; Yasuda, Yukihiro - In: Pacific-Basin finance journal 83 (2024), pp. 1-16

Persistent link: https://www.econbiz.de/10014491186

Chapter 20 Human behavior and the efficiency of the financial system

Shiller, Robert J. - In: Handbook of macroeconomics : volume 1, part C, (pp. 1305-1340). 1999

Recent literature in empirical finance is surveyed in its relation to underlying behavioral principles, principles which come primarily from psychology, sociology, and anthropology. The behavioral principles discussed are: prospect theory, regret and cognitive dissonance, anchoring, mental...

Persistent link: https://www.econbiz.de/10014024220

Investor recognition and liquidity : evidence from dual listing on the NYSE and NASDAQ

Hegde, Shantaram P.; Lin, Hao; Varshney, Sanjay B. - In: Applied economics letters 24 (2017) 4/6, pp. 229-232

Persistent link: https://www.econbiz.de/10011704418