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

over faster than domestic assets because the former have desirable liquidity properties, but represent inferior saving …

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 …

infinitesimal amount of liquidity to the agent. We show that the most financially central agents are not only those who trade often …

We study the effect of real asset liquidity on a firm's cost of capital. We find an aggregate asset-liquidity discount … in firms' cost of capital that is strongly counter-cyclical. At the firm-level we find that asset liquidity affects firms … periods of high asset liquidity have lower cost of capital. This effect is stronger when the asset liquidity is provided by …

. The bankruptcy and liquidation of a retail chain weakens the economies of agglomeration in any given local area, reducing …