Narrow search
Showing 1 - 10 of 100
Cover Image
Do firms issue more equity when markets become more liquid?
Hanselaar, Rogier M.; Stulz, René M.; Dijk, Mathijs van - 2017
issuance are significantly and positively related to lagged changes in aggregate local market liquidity. This relation is at … investor sentiment, as well as the exclusion of the financial crisis. Changes in liquidity are less relevant for firms that …
Persistent link: https://www.econbiz.de/10011962215
Cover Image
Is post-crisis bond liquidity lower?
Anderson, Mike; Stulz, René M. - 2017
Persistent link: https://www.econbiz.de/10011650411
Cover Image
Is post-crisis bond liquidity lower?
Anderson, Mike; Stulz, René M. - 2017
Price-based liquidity metrics are better in 2013-2014 for small trades and large high-yield bond trades, but not for … relative to 2010-2012. This evidence contrasts with the widely-held view among practitioners that liquidity has worsened …-crisis liquidity could be low when markets are stressed. We consider three stress events: extreme VIX increases, extreme bond yield …
Persistent link: https://www.econbiz.de/10011963317
Cover Image
Do firms issue more equity when markets become more liquid?
Hanselaar, Rogier M.; Stulz, René M.; Dijk, Mathijs van - In: Journal of financial economics 133 (2019) 1, pp. 64-82
Persistent link: https://www.econbiz.de/10012164067
Cover Image
Is Post-Crisis Bond Liquidity Lower?
Anderson, Mike - 2017
Price-based liquidity metrics are better in 2013-2014 for small trades and large high-yield bond trades, but not for … relative to 2010-2012. This evidence contrasts with the widely-held view among practitioners that liquidity has worsened …-crisis liquidity could be low when markets are stressed. We consider three stress events: extreme VIX increases, extreme bond yield …
Persistent link: https://www.econbiz.de/10012455364
Cover Image
Why Did Some Banks Perform Better during the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation
Beltratti, Andrea - 2010
Though overall bank performance from July 2007 to December 2008 was the worst since at least the Great Depression, there is significant variation in the cross-section of stock returns of large banks across the world during that period. We use this variation to evaluate the importance of factors...
Persistent link: https://www.econbiz.de/10013152303
Cover Image
Do Investors Trade More When Stocks Have Performed Well? Evidence from 46 Countries
Griffin, John M. - 2005
controls for volatility, alternative definitions for turnover, differing sample periods, and are present at both the weekly and …
Persistent link: https://www.econbiz.de/10012737324
Cover Image
Should We Fear Derivatives?
Stulz, René M. - 2004
This paper discusses the extent to which derivatives pose threats to firms and to the economy. After reviewing the derivatives markets and putting in perspective the various measures of the size of these markets, the paper shows who uses derivatives and why. The difficulties firms face in...
Persistent link: https://www.econbiz.de/10012738279
Cover Image
Globalization of Equity Markets and the Cost of Capital
Stulz, René M. - 2014
This paper examines the impact of globalization on the cost of equity capital. We argue that the cost of equity capital decreases because of globalization for two important reasons. First, the expected return that investors require to invest in equity to compensate them for the risk they bear...
Persistent link: https://www.econbiz.de/10012710601
Cover Image
International Portfolio Flows and Security Markets
Stulz, René M. - 1999
no convincing evidence that portfolio flows increase the volatility of equity returns, lead to excessive co-movement of a …
Persistent link: https://www.econbiz.de/10012743928