Han, Song; Huang, Alan Guoming; Madhu, Kalimipalli,; … - 2018 - This version: June, 2018
the market liquidity effects of enhanced information disclosure induced by the public registration of 144A bonds. Using …, dealer-specific effective bid-ask spreads narrow, especially for issues with higher ex-ante information asymmetry. Our … results are consistent with existing theories that disclosure reduces information risk and thus improves market liquidity …