Back, Kerry E.; Collin-Dufresne, Pierre; Fos, Vyacheslav; … - 2018
parameters can produce either positive or negative relations between market liquidity and economic efficiency, depending on the … between market liquidity and economic efficiency is independent of the activist's initial stake for a broad set of activism … technologies and (b) an increase in noise trading can reduce market liquidity, because it increases uncertainty about the activist …