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Common determinants of bond and stock market liquidity : the impact of financial crises, monetary policy, and mutual fund flows

Chordia, Tarun (contributor); Sarkar, Asani (contributor); … - 2001 - [Elektronische Ressource]

more highly correlated; moreover, at these times, money supply positively affects financial market liquidity, albeit with a … lag of two weeks. During normal times, increases in mutual fund flows enhance stock market liquidity and trading volume …, but during financial crises, U.S. government bond funds see higher inflows, resulting in increased bond market liquidity …

Persistent link: https://www.econbiz.de/10001629622

Do stock price bubbles influence corporate investment?

Gilchrist, Simon (contributor); … - 2004 - [Elektronische Ressource]

Building on recent developments in behavioral asset pricing, we develop a model in which an increase in the dispersion of investor beliefs under short-selling constraints predicts a "bubble," or a rise in a stock's price above its fundamental value. Our model predicts that managers respond to...

Persistent link: https://www.econbiz.de/10001936312

Measuring treasury market liquidity

Fleming, Michael J. (contributor) - 2001 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001590059

Are larger treasury issues more liquid? : Evidence from bill reopenings

Fleming, Michael J. (contributor) - 2002 - [Elektronische Ressource]

Persistent link: https://www.econbiz.de/10001656398

Financial Conditions and Investment during the Transition: Evidence from Czech Firms

Lizal, Lubomir; Svejnar, Jan - EconWPA - 2001

In this paper, we examine net investment during the early stages of transition using micro data on the population of medium and large industrial firms in the Czech Republic during the 1992-95 period. We examine the relevance of alternative models of investment and test if investment behavior...

Persistent link: https://www.econbiz.de/10005407697

INFORMATION TECHNOLOGY AND THE PRODUCTIVITY PARADOX:EMERGING EVIDENCE FROM THE AFRICAN ECONOMIES

NWAOBI, GODWIN CHUKWUDUM - EconWPA - 2004

Technological progress is considered as a source of growth and productivity gains for national economies. Thus, understanding the factors that determine the diffusion of new technologies across countries is important to understanding the process of economic development. This project therefore...

Persistent link: https://www.econbiz.de/10005118610

Development of Ownership Structure and its Effect on Performance: Czech Firms from Mass Privatization

Kocenda, Evzen - EconWPA - 2002

This paper works with a broad data sample of Czech voucher-privatized firms during 1996 - 1999. It analyzes the development of ownership structure and consequently its effect on a firm's performance Ownership concentration had been quite high in 1996 and steadily increased. The single largest...

Persistent link: https://www.econbiz.de/10005556293

Firms' Dynamic Adjustment to Target Capital Structures in Transition Economies

Haas, R.T.A. de; Peeters, H.M.M. - EconWPA - 2004

We study the capital structure dynamics of Central and Eastern European firms in order to get a better understanding of the quantitative and qualitative development of the financial systems in this region. The dynamic model we use endogenizes the target leverage as well as the adjustment speed...

Persistent link: https://www.econbiz.de/10005134833

Nearly Unbiased Estimationin Dynamic Panel Data Models

Carree, Martin A. - Tinbergen Instituut - 2002

This paper introduces two easy to calculate estimators with desirable properties for theautoregressive parameter in dynamic panel data models. The estimators are (nearly) unbiased andperform satisfactorily even for small samples in either the time-series or cross-section dimension.

Persistent link: https://www.econbiz.de/10011257161

Firms’ technological trajectories and the creation of foreign subsidiaries

Castellani, Davide - EconWPA - 2001

Multinational firms are traditionally considered as firms possessing some technological lead and exploiting this proprietary advantage in international markets, but a growing literature has been arguing that multinational firms set up foreign subsidiaries not only as a means to exploit their own...

Persistent link: https://www.econbiz.de/10005062587