to a permanent change in the composition of institutional ownership and a negative price and liquidity impact. We confirm …

liquidity and fire-sale shocks respond to an increase in informed trading by shifting their portfolios away from stocks with …

also increases information asymmetry and reduces stock liquidity. It also intensifies the price impact and liquidity crunch …

also increases information asymmetry and reduces stock liquidity. It also intensifies the price impact and liquidity crunch …

also increases information asymmetry and reduces stock liquidity. It also intensifies the price impact and liquidity crunch …

provides bond liquidity. Given that bond investors are segmented by regulation – i.e., insurance companies, banks, and pension … liquidity provision role of CDS to be concentrated among investment grade bonds. We test this hypothesis using a comprehensive … reduces yield spreads and increases liquidity for investment grade bonds. This effect is stronger during the financial crisis …

We study how actively managed equity mutual funds select the liquidity level of their equity portfolio and the effects … of this selection on performance. We provide evidence of five key determinants of portfolio liquidity: portfolio size …, portfolio concentration, the manager’s trading frequency, investment style, and fee structure. We also show that liquidity is a …