Gabrielsen, Alexandros; Marzo, Massimiliano; Zagaglia, Paolo - In: Journal of finance and investment analysis 1 (2012) 4, pp. 89-129
The liquidity of an asset in modern financial markets is a key and, yet, elusive concept. A market is often said to be liquid when the prevailing structure of transactions provides a prompt and secure link between the demand and supply of assets, thus delivering low costs of transaction....
