FANG, VIVIAN W.; TIAN, XUAN; TICE, SHERI - In: Journal of Finance 69 (2014) 5, pp. 2085-2125
type="main" <title type="main">ABSTRACT</title> <p>We aim to tackle the longstanding debate on whether stock liquidity enhances or impedes firm innovation. This topic is of interest because innovation is crucial for firm- and national-level competitiveness and stock liquidity can be altered by financial market regulations....</p>