We examine the effects of collateral provision as a potential channel between funding liquidity tensions and the … scarcity of market liquidity. This channel consists in transferring the credit risk associated with refinancing operations … between financial institutions to market participants that bear new liquidity risk on the market associated with collateral …

financial institutions to market participants. In particular, we analyze liquidity and volatility premia on the French …; in the other, which we dub the unconventional regime, monetary policy operations lead to volatility and liquidity premia …

order book enhances liquidity and thus reduce yields. Irregularly issuing securities raises the yields government must pay … to liquidity hypothesis, yields are lower when the amount issued is large in such periods. Finally, yields are found to …

shares being used in arbitrage trades or by the indirect effect of ETF trading improving the liquidity of index stocks in the … way index traders distribute across index markets, with the ETF market absorbing the liquidity demand from some hedgers or …

adverse effect on liquidity only for the smallest and least liquid firms. …

This article examines how the introduction of an ETF replicating a stock index impacts on the liquidity of the … underlying stocks when the ETF market involves liquidity providers (LPs). We find that index stock spreads decline, relative to … those of non-index stocks, after the introduction of the ETF but this liquidity improvement is not driven by changes in …

,848 repurchases made by 352 French firms, we show that corporate share repurchases have a significant adverse effect on liquidity as … measured by bid–ask spread or depth. Our results also indicate that share repurchases largely reflect contrarian trading rather …

This paper examines the impact of market liquidity on seasoned equity offerings (SEO) characteristics in France. We … find that, besides blockholders’ takeup, liquidity is an important determinant of SEO flotation method choice. We document … higher direct equity offering flotation costs, but also improved stock market liquidity after public offerings and standby …

I propose a model in which a stock exchange can improve its liquidity by tightening its listing requirements. Because … depends on the sensitivity of the utility of investors to changes in liquidity and varies with the organization of listing and …

their poor liquidity, which often translates into an inherent smoothing process of the returns. For asset allocation …