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Public News and Market Liquidity : Evidence from the CDS Market
Pan, Wei-Fong - 2019
This paper examines the effects of public news releases on the market liquidity in one of the most important OTC … quotes is larger, and the number of dealers is greater. Earnings announcements have particularly strong effects on liquidity … days and reverts to normal levels several days after news releases. Finally, the effect of news on liquidity is stronger …
Persistent link: https://www.econbiz.de/10012858085
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What drives stock market underreaction to liquidity shocks? : evidence from Korea
Jang, Jeewon - In: Asia-Pacific journal of financial studies 51 (2022) 1, pp. 44-80
Persistent link: https://www.econbiz.de/10013161902
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News Tone, Investor Sentiment, and Liquidity Premium
Liu, Jun; Wu, Kai; Zhou, Ming - 2022
Investor sentiment affects stock market liquidity by affecting noise trading and irrational market makers. Previous … studies have focused on this effect with the time-series variation in sentiment and liquidity. This paper utilizes firm …-specific news sentiment (FSNS) to examine its effect on stock liquidity in China stock market and show that firms with an optimistic …
Persistent link: https://www.econbiz.de/10013492675
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Do initial reserves signal long-term IPO stock performance?
Cheng, Peng - In: Cogent economics & finance 3 (2015) 1, pp. 1-11
This research examines the long-run Initial Public Offerings (IPO) stock performance of a large Chinese sample, and in particular the relationship between initial reserves (capital reserves and revenue reserves immediately after the IPO) and long-run IPO stock performance. In general, Chinese...
Persistent link: https://www.econbiz.de/10010492409
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The Persistence of Long-Run Abnormal Stock Returns Following Stock Repurchases and Offerings
Fu, Fangjian - 2014
investment, decreased trading costs, improved liquidity, and enhanced regulations on corporate governance and information …
Persistent link: https://www.econbiz.de/10013067342
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Corporate transactions in hard-to-value stocks
Ben-David, Itzhak; Kim, Byungwook; Moussawi, Hala; … - 2021
Hard-to-value stocks provide opportunities for managers to exploit their informational advantage through trading on their firms' and their own personal accounts. In contrast to the prediction that such transactions reflect private information about future events, they are contrarian and heavily...
Persistent link: https://www.econbiz.de/10012816430
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Environmental damage news and stock returns : evidence from Latin America
Cavallo, Eduardo A.; Cepeda, Ana; Panizza, Ugo - 2024
This paper studies the interplay between environmental performance and financial valuation of firms in Latin America and the Caribbean. We provide insights into how environmental considerations are integrated into financial decision-making and investor behavior by analyzing the stock market...
Persistent link: https://www.econbiz.de/10014534744
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Carbon Policy Surprises and Stock Returns : Signals from Financial Markets
Hengge, Martina; Panizza, Ugo; Varghese, Richard - 2023
Understanding the impact of climate mitigation policies is key to designing effective carbon pricing tools. We use institutional features of the EU Emissions Trading System (ETS) and high-frequency data on more than 2,000 publicly listed European firms over 2011-21 to study the impact of carbon...
Persistent link: https://www.econbiz.de/10014257872
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Environmental damage news and stock returns : evidence from Latin America
Cavallo, Eduardo A.; Cepeda, Ana; Panizza, Ugo - 2024
This paper studies the interplay between environmental performance and financial valuation of firms in Latin America and the Caribbean. We provide insights into how environmental considerations are integrated into financial decision-making and investor behavior by analyzing the stock market...
Persistent link: https://www.econbiz.de/10014529773
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Asymmetric Decrease in Liquidity Trading before Earnings Announcements and the Announcement Return Premium
Levi, Shai - 2015
decrease in liquidity trading before announcements is asymmetric. We analyze buy and sell orders of investors with passive …. Investors needing liquidity sell stocks at a discount relative to the post-announcement price, and these preannouncement … liquidity sales are a significant driver of the average positive returns, or return premium, known to characterize announcement …
Persistent link: https://www.econbiz.de/10013036009