This paper studies the effect of stock liquidity on blockholders' choice of governance mechanisms. We focus on hedge … measure governance intent rather than only studying instances of actual governance. We find that liquidity increases the … likelihood that a hedge fund acquires a block in a firm. Conditional upon acquiring a stake, liquidity reduces the likelihood …

Is greater trading liquidity good or bad for corporate governance? We address this question both theoretically and … information concerns her own plans for taking an active role in governance. We show that an increase in the liquidity of the firm …'s stock increases the likelihood of the large investor 'taking the Wall Street walk.' Thus, higher liquidity is harmful for …

This paper argues that if policymakers seek to enhance global liquidity, then the international community must provide …

ensuring that liquidity would be distributed to those institutions that needed it most. Conceptually, this meant America …

-Wicksellian model and then adds banks and a role for bonds in the liquidity management of households and banks. The Banks and Bonds …

We study liquidity conditions in the corporate bond market during the COVID-19 pandemic, and the effects of the … unprecedented interventions by the Federal Reserve. We find that, at the height of the crisis, liquidity conditions deteriorated … “lean against the wind” and bid-ask spreads declined. To study the causal impact of the interventions on market liquidity …

mechanism to forestall claims on U.S gold reserves under Bretton Woods to a means of extending emergency dollar liquidity during …