Lee, Kuan-hui (contributor) - 2005
survey the
previous literature related to liquidity in international flnancial markets. In section 3, we review
the liquidity …
flnancial markets. In the next section, we will review the liquidity-adjusted capital asset pricing
model proposed by Acharya … market risk. Each beta has an associated economic interpretation:
† fl1;Di is similar to traditional market beta of CAPM …