In this study, we examine the distribution of market liquidity for a broad sample of Real Estate Investment Trusts (REITs). While prior research has focused on the average liquidity of REITs, we extend our analysis to include both the variability and skewness of liquidity, both of which have...

Prior research has documented that the development of stocks markets, and in particular, stock market liquidity is directly associated with economic growth. However, the literature has yet to determine whether the liquidity-growth relationship disproportionately affects a particular group within...

This paper analyzes the effect of economic freedom on the liquidity of financial markets using a non-traditional approach. Using a sample of 393 American Depositary Receipts (ADRs), we examine the liquidity of these securities while conditioning on the level of economic freedom in the ADR home...

Using a unique research design, this paper examines how the level of trust in various countries affects liquidity in financial markets. In particular, we examine various measures of market liquidity in American Depositary Receipts (ADRs) while conditioning on the level of trust in the ADR's home...