Stulz, René M.; Vagias, Dimitrios; Dijk, Mathijs A. van - National Bureau of Economic Research (NBER) - 2013
This paper investigates how public equity issuance is related to stock market liquidity. Using quarterly data on IPOs and SEOs in 36 countries over the period 1995-2008, we show that equity issuance is significantly and positively related to contemporaneous and lagged innovations in aggregate...