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Time Varying Liquidity Trading, Private Information and Insider Trading

Lei, Qin - 2012

corporate insiders utilize their private information when the amount of liquidity trading is varying over time in a predictable … announcements increases in the amount of liquidity trading available. This pattern is more pronounced before unscheduled …

Persistent link: https://www.econbiz.de/10013115651

Is There a Link between Foreclosure and Health?

Currie, Janet M. - 2011

We investigate the relationship between foreclosures and hospital visits using data on all foreclosures and all hospital and emergency room visits from four states that were among the hardest hit by the foreclosure crisis. We find that living in a neighborhood with a spike in foreclosures is...

Persistent link: https://www.econbiz.de/10013121074

Default and Systemic Risk in Equilibrium

Capponi, Agostino - 2011

We develop a finite horizon continuous time market model, where risk averse investors maximize utility from terminal wealth by dynamically investing in a risk-free money market account, a stock written on a default-free dividend process, and a defaultable bond, whose prices are determined via...

Persistent link: https://www.econbiz.de/10013121804

Idiosyncratic Volatility vs. Liquidity? Evidence from the U.S. Corporate Bond Market

Kalimipalli, Madhu - 2011

about the relative effects of equity volatility and bond liquidity in the cross-section of corporate bond spreads. Our tests … reveal that while both volatility and liquidity effects are significant, volatility, representing ex-ante credit shock, has … the first-order impact, and liquidity represented by bond characteristics and price impact measure has the secondary …

Persistent link: https://www.econbiz.de/10013122076

Where Should General Motors Go from Here?

Maniam, Balasundram - 2011

General Motors was once the pinnacle for industrial accomplishment, leading the automobile industry in market share for over 70 years. Early business strategies paved the way for this success, including; organizational structuring, marketing, and utilizing efficient production through economies...

Persistent link: https://www.econbiz.de/10013122757

News Tone, Investor Sentiment, and Liquidity Premium

Liu, Jun; Wu, Kai; Zhou, Ming - 2022

Investor sentiment affects stock market liquidity by affecting noise trading and irrational market makers. Previous … studies have focused on this effect with the time-series variation in sentiment and liquidity. This paper utilizes firm …-specific news sentiment (FSNS) to examine its effect on stock liquidity in China stock market and show that firms with an optimistic …

Persistent link: https://www.econbiz.de/10013492675

Which Firms Die? A Look at Manufacturing Firm Exit in Ghana

Frazer, Garth - 2006

Which firms are driven out of business the African context? Given that many markets do not function efficiently in Africa, the determinants of firm exit may not be the same fundamentals that force business closure elsewhere. In particular, less productive firms may not be the ones forced out of...

Persistent link: https://www.econbiz.de/10014027093

The Bank of Japan’s Equity Purchases and Stock Illiquidity

El Kalak, Izidin; Leung, Woon Sau; Takahashi, Hidenori; … - 2022

the role of unconventional equity-based monetary policies in the market liquidity of the underlying securities. Using a … comovement in liquidity and reduces informational efficiency …

Persistent link: https://www.econbiz.de/10014030587

Bankruptcy Reforms and Corporate Debt Structure

Liu, Xiaotian; Qi, Yaxuan; Wan, Wai Yee - 2022

A growing number of jurisdictions have adopted bankruptcy law reforms in the spirit of U.S. Chapter 11 to facilitate the restructuring of distressed corporate debt. This paper evaluates the impact of these reforms on firms' choice of debt structures. Using a difference-in-differences design...

Persistent link: https://www.econbiz.de/10014239445

Testing the Exogeneity of Argentine Devaluation and Default Risks in Retrospect

Ahumada, Hildegart A.; Garegnani, Lorena - 2005

This paper studies the relationship between devaluation and default risks during Argentina's convertibility regime. Before default and devaluation occurred, a harder variant of the currency regime was under discussion. An often-suggested argument among the supporters of dollarization was that...

Persistent link: https://www.econbiz.de/10014062119