Global ETD Search
Search theses and dissertations gathered from participating repositories worldwide. Every result links back to the library that holds it. No account is needed.
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Showing 1 to 20 of 22 for “"stock liquidity"”.
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Three Essays on Price Discovery, Stock Liquidity, and Crash Risk
… investigate whether local religious norms affect stock liquidity for U.S. listed companies. Over the period 1997–2020, we find that firms located in more religious areas have higher liquidity, as reflected by lower bid-ask spreads. This result persists after the inclusion of additional controls, …
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The Influence of Stock Market Liquidity on Dividend Changes in Europe.
… dividend change puzzle in place by analyzing how stock market liquidity influences dividend changes for a panel of European firms from 2006 to 2014. The theoretical impact of stock liquidity on dividend changes is ambiguous: it can be either substitutive or complementary. Because the results can …
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Essays in Liquidity and Financial Markets
… presents three studies related to the effects of liquidity on financial markets. The first topic explores the relationship between funding liquidity and credit default swap (CDS) spreads. Using panel estimations, this study provides evidence that a tightening of funding liquidity increases …
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Analisis pengaruh harga saham dan volume perdagangan terhadap likuiditas saham pada perusahaan go public yang melakukan stock split di Bursa Efek Indonesia pada Periode 2013-2014
INDONESIA: Stock Split selain memperbesar jumlah saham yang beredar juga memperbesar daya beli investor karena nilai sahamnya lebih kecil sehingga likuiditasnya akan meningkat, likuiditas mengacu pada seberapa mudah investor dapat memperjualbelikan sahamnya di bursa diantaranya adalah jumlah saham- …
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Incentives and Firm Behaviors
… agency costs in modern organizations. </p> <p>Stock illiquidity raises the cost of share ownership to outside investors. The sizable adverse price impact of trading increases transactions costs and stock volatility. The reduced gains from informed trading discourages the acquisition of private …
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Essays in Behavioural Corporate Finance
… impact of directorate interlocking networks on stock liquidity. Directorate interlocking is evidenced as an efficient channel by which firms transmit their corporate governance and corporate practices. This chapter employs an approach from sociology to capture network centrality (i.e., a higher …
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Price, Liquidity, Volatility, and Volume of Cross-listed Stocks
… for the wealth of shareholders, for stock liquidity and volatility, and for the distribution of trading volumes across both the domestic and foreign stock markets where the shares are traded. For the purpose of clarity, these three issues are analysed in three empirical chapters in …
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Commonality of Liquidity around the World: Evaluation of Possible Reasons
… factors affecting the extent of commonality in liquidity and differences between different stock exchanges around the world. With a comprehensive approach, our investigation centers on presenting evidence on the existence of commonality in liquidity, effect of using different measures of market …
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Corporate Governance and Institutional Trading
… against corporate policy deviations. Using stock liquidity and mutual fund fire sales as instruments, I find that when the likelihood of hedge fund activism increases, firms respond by paying shareholder more and CEOs less, holding less cash and leveraging more, and increasing investment …
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Information dissemination and corporate bankruptcies
… informed selling was already incorporated into stock prices before the announcement. This attenuation effect of informed selling on stock market reactions is weaker for firms that receive more media coverage or adverse news sentiment. I further show that the informed trading documented is most …
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Essays in financial economics
… warns that exchange-traded funds (ETFs) harm stock price discovery, either by ``stealing'' single-stock liquidity or forcing stock prices to co-move. Contra this belief, I develop a theoretical model that investors with stock-specific information trade both single stocks and ETFs. While the …
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Two Essays on Governance in IPO Firms
… of these governance structures for long-term liquidity. This is a significant oversight, given the many benefits to IPO issuers from having a liquid stock (e.g., reduced cost of capital, increased external monitoring etc.). We find that both pre-IPO ownership structures and the degree of …
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Two Essays on Investments: Corporate and Institutional Perspective
… who trade actively (short-term) would buy the stocks of firms with a more concentrated customer base. Conversely, those institutions who trade less actively (long-term) would buy the stocks of firms with a less concentrated customer base. While the preference of long-term investors is supported …
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Essays on corporate innovation
… essay investigates the effects of aggregate stock market liquidity on innovation at both the aggregate and firm levels for publicly traded firms in the U.S., and shows a significant and positive effect at both levels of aggregation. Next, the essay provides two underlying mechanisms through …
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Passive Institutional Ownership, Firm Disclosure, and Post-earnings Announcement Drift
… a better firm information environment and higher stock liquidity. To test the hypothesis, I choose the S&P 500 addition setting to take advantage of the large variations of passive institutional ownership around the addition events. Consistent with the predictions, I find that higher passive …
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The effect of idiosyncratic and macroeconomic risk on cash holdings
… of corporate cash holding (or corporate liquidity) in South Africa in three related studies. The first study empirically investigates the sensitivity of corporate cash holdings to changes in idiosyncratic and macroeconomic risk. The analysis is carried out for a panel of South African …
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