this switch to anonymity on market liquidity and the informational content of the limit order book. Our empirical analysis … information on future volatility is public, the informational content of the bid-ask spread and market liquidity are identical in … anonymity alters the informational content of the bid-ask spread and market liquidity. For our sample stocks, we find that the …

reduce price impact costs at the German Stock Exchange by adjusting their trading strategies to the liquidity dynamics. …

explained through substantial liquidity effects. …

chain and which accounts for default and liquidity risk. A representation of the bond price dynamics, which separates three … different types of risk, was obtained. Introducing the risk of systematic changes in the market liquidity added more risks. A …

intraday trading data to analyze liquidity effects on the cost of capital associated with the unification. In sum, the …

Do bond investors demand credit quality or liquidity? The answer is both, but at different times and for different … quality and liquidity across countries, we show that the bulk of sovereign yield spreads is explained by differences in credit … quality, though liquidity plays a non-trivial role especially for low credit risk countries and during times of heightened …