over faster than domestic assets because the former have desirable liquidity properties, but represent inferior saving … consumption and asset home bias coupled with higher turnover rates of foreign over domestic assets …

liquidity may be related positively to the longer-term probability of default. Our empirical analysis confirms these predictions …

liquidity providers (sinks) when market valuations are high (low). Venture cash flows and performance are considerably more …

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 proposes a theory of corporate liquidity demand and provides new evidence on corporate cash policies. Firms … specification. We also find weak evidence consistent with our agency-based model of corporate liquidity …

more than long-term credit. Firms responded by cutting their short-term loans for liquidity management purposes and …, firms increase cash and cut investment. Thus, trade credit offers a substitute source of liquidity that can insulate some … firms from bank liquidity shocks …

We explore the link between liquidity and investment in a an overlapping generation model with a standard … this asynchronicity, resulting in credit rationing and a net demand for stores of value -- liquidity -- by the corporate … sector. At the heart of the model is a distinction between inside liquidity -- liquidity created within the private sector …

In this paper, we propose a bank-based explanation for the decade-long Japanese slowdown following the asset price …

transactions occur at a discount to net asset value. Buyers average an annualized Public Market Equivalent (PME) of 1.023 compared …