Share issue privatization - i.e. privatization on public equity markets - is often claimed to foster stock market development. In this paper, we provide an empirical assessment of this claim, testing the role of privatization on two market liquidity measures in a panel with monthly data of 19...

Am weltweiten Aktienmarktschwanken die Kurse, die europäischeZentralbank stellt denBanken kurzfristige Liquidität vonmehr als einhundert Milliarden Eurozur Verfügung, die US-amerikanischeNotenbank senkt den Diskontsatz.Spätestens wenn dann nochBanken wie am Wochenende dieSachsenLB auf die...

We study the dispersion of month-end valuations placed on identical corporatebonds by different mutual funds. Such dispersion is related to bond-specificcharacteristics associated with liquidity and market volatility. TRACE may havecontributed to the general decline in dispersion over our sample...